pipkin73
Well-Known Member
Why only 2 million???
Why only 2 million???Bobby Bridge reporting interest from an overseas investor and they need to find 2M in the next however many days. They'll probably find that i'd have thought
HMRC wouldnt be asking for the full amount immediately. They'd rather get something than nothingWhy only 2 million???
But they also have to pay the bonds and they are gearing up to bring in their own administrator.HMRC wouldnt be asking for the full amount immediately. They'd rather get something than nothing
Yeah but like I said it’s a closed old boys club, Wasps are one of the established names. The RFU won’t go that farYou could say it's cheating to borrow 35m and not be able to pay it back.
It can be refuted if somebody goes through the books.
To be fair the Telegraph thinking a potential buyer is credible doesn't mean much. They don't have a great track record with potential new owners for us.
How can a tax bill from HMRC be unexpected & "blindsided" them?
"If administration does occur, under RFU rules, Wasps will be relegated at the end of the season. However, another rule states that exemptions can be made if the club can demonstrate the situation was not their fault.
Listed among the possible reasons is a 'pandemic'. All aspects of the Wasps business were rocked by Covid-19 with the rugby, hotel, exhibitions, events and conference all taking s significant hit."
He's surely missed off a sentence at the end there? Something like...
"This would be disingenous though as, whilst Covid may have exacerbated the issue, the franchise's finances have been an unsustainable shitshow ever since their disastrous move to Coventry"
It seems to me, as you say…if there is an overseas investor they’re going to have to have very deep pockets not only to bail them out but also to continue to invest for years to come in a club that not only loses lots of money…but in a sport structure that doesn’t seem sustainable.Two quick thoughts:
HMRC don't "blindside" anyone. They'll have been very clear on what they want and when they want it, and Wasps will have had plenty of time to settle up before any winding-up order would have been threatened.
If Wasps are in this spot because they can't find £2m, then they're as good as done I suspect. Their debts go far, far beyond that, and having spooked and abused the bondholders' trust I can't see any way they'll let this dangle on much longer.
To bail them out properly and keep hold of the stadium is going to cost someone £35m - £50m. I'm not sure anyone is genuinely up for that, and neither HMRC nor the bondholders are likely to take things on trust any longer.
If someone is giving them just a one off £2mil payment they might as well give it to me, for all the use it will do.
As I understand it, a structure to pay back the money owed was agreed as it had been with other clubs. Now HMRC are demanding it be paid back sooner which is why wasps were ‘blindsided’. I wonder if they have gone back on their agreement with other clubs or are just picking on Wasps
Oh yes!!!Would you spend it on coke & hookers like a certain Wasps director?
Yeah…and I waste the rest!Would you spend it on coke & hookers like a certain Wasps director?
As there is no relegation from the RPL what is to stop Wasps cutting costs to the bone, even getting rid of the playing squad and auctioning off matches in the first team for a few years to gain revenue.
The sport is a joke.
Who is going to make way for the team names after a travel agent, the team that moves every 10 minutes or one of the teams with a racist name?There is from next season in theory and they want Ealing in it somehow
And Bobby is hardly providing the scrutiny of a critical local journalist is he? He never has. Rather he acts as the conduit for whatever BS Wasps choose to spew out. In other words their useful idiot. To paraphrase the immortal Mandy Rice Davies, the standard response to their claims should be “well they would say that wouldn’t they?”To be fair the Telegraph thinking a potential buyer is credible doesn't mean much. They don't have a great track record with potential new owners for us.
As I understand it, a structure to pay back the money owed was agreed as it had been with other clubs. Now HMRC are demanding it be paid back sooner which is why wasps were ‘blindsided’. I wonder if they have gone back on their agreement with other clubs or are just picking on Wasps
Has he ever actually done anything investigative or is he just glorified Comms for them?
TBF, they appear to have been blindsided in May when they suddenly had to pay back £35m to bondholders...You are seriously suggesting that HMRC agreed an arrangement to pay, and then went back on it?
Interesting that, because I've worked both for HMRC (a very long time ago admittedly) and kind of against them, when I ran my own business, and I've never ever heard of them going back on an agreed arrangement.
Wasps might have gambled that they weren't going to take action, or made some kind of assumption, but there is no way on this planet that HMRC renege on an agreed payment plan.
If you agree one and don't stick to it though, then they'll show their teeth. Blindsided my arse.
Doesn't a rugby team need hookers?Would you spend it on coke & hookers like a certain Wasps director?
Arctic Monkeys playing the CBS next May. That's two of the major stadium touring artists playing there next summer. One more to come apparently.
Will they fuck the pitch upArctic Monkeys playing the CBS next May. That's two of the major stadium touring artists playing there next summer. One more to come apparently.
Do I Wanna Know?Will they fuck the pitch up
Sounds like Greggs....Own up which one of us has been using their vpn to fool these desperate bunch that they’ve found £2m down the back of the sofa
Ed Sheeran
Could be Dale Evans with a VPN, or maybe Preston Haskell IVOwn up which one of us has been using their vpn to fool these desperate bunch that they’ve found £2m down the back of the sofa
You will when the sun goes down...it'll be your favourite worst nightmareDo I Wanna Know?
Yeah, "share", but it's like sharing with a bunch of travellers who have camped up on one of your parks and have left a path of destruction and dirty nappies everywhere.#RugbyFamily
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?