Wasps owner Derek Richardson explains Coventry move and rejects "franchise" tag (4 Viewers)

[SkyBlue_Bear83]

No , on the graphs shown we need to generate £5M in the championship to be competitive. Not an additional £5M.
If a successful CCFC in the Championship with 20K + crowd can"t make £5M from commercial revenues then those responsible need sacking.

Has anyone actually seen our accounts from the championship relegation year considering they were filed about 12 months late? All I've seen is that our total revenue was approx 10.5 million, for all we know 5 million (or close) of that COULD have came from commercial revenues could it have not?

Coventry aren't included on the graph because we hadn't filed our accounts, we're just comparing other clubs on the graph to the revenue that was reported that year from several news outlets?

 

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[italiahorse]

Did they?

Yes

 

[SkyBlue_Bear83]

If you assume 5 million was media revenue in line with the other clubs then that means 5.5 million approx. was from ticket sales and commercial revenue.

 

[Grendel]

Didn't they also want It unencumbered ?

No not the Higgs share.

 

[italiahorse]

No not the Higgs share.

They wanted to put their own management company in so effectively ACL and its contracts would be voided.

 

[Nick]

Yes

Got a link?

 

[italiahorse]

If you assume 5 million was media revenue in line with the other clubs then that means 5.5 million approx. was from ticket sales and commercial revenue.

I need to get the graph out of my round metal filing system..

 

[italiahorse]

Got a link?

http://www.google.co.uk/url?sa=t&so...oICwDQ&usg=AFQjCNHboHYNYCrJKgqSIhPXnwwdCyey3g

 

[Nick]

http://www.google.co.uk/url?sa=t&so...oICwDQ&usg=AFQjCNHboHYNYCrJKgqSIhPXnwwdCyey3g

Which bit is it on?

 

[Grendel]

They wanted to put their own management company in so effectively ACL and its contracts would be voided.

No you are getting confused. That would be impossible on buying half a share. It was the reason (never proved) that Lucas said they could not sell the council share to sisu.

Also given one contract has already fallen.....

 

[italiahorse]

Which bit is it on?

4th paragraph up from bottom.
Some people need to re read the whole article again.

 

[Grendel]

4th paragraph up from bottom.
Some people need to re read the whole article again.

Yes you do - that was for the purchase of the council share.

 

[Moff]

. The bitterness towards Wasps is pointless and a little bit sad really.

I know it might be a bit much for you to understand, but aside from your CCFC bubble, some people dont like them as they dont agree with franchising, some people disagree with the affect on Coventry Rugby Club, whilst others support other local Rugby Clubs and dont agree with a London Club just muscling into another area.

I would suggest perhaps what is sad is your inability to accept or grasp that it is a bigger issue than just the CCFC scenario, and to see that actually people arent always bitter they just dont like the PR, spin and bullshit from wasps the same as they cant abide it from Waggott, Fisher and SISU.

 

[chiefdave]

Didn't they also want It unencumbered ?

The £2m was the offer for Higgs share from memory. That wouldn't have been unencumbered, how would that have worked? If you buy 50% of a company that's exactly what you buy. It was much further down the line when they started banging on about unencumbered wasn't it?

 

[chiefdave]

Another Wasps piece up on the CT now. They're looking to play on games on Saturdays having previously said they wouldn't do that so as not to impact CRFC. Now they just want to 'minimize impact' on CRFC whatever that means.

 

[italiahorse]

The £2m was the offer for Higgs share from memory. That wouldn't have been unencumbered, how would that have worked? If you buy 50% of a company that's exactly what you buy. It was much further down the line when they started banging on about unencumbered wasn't it?

Who knows.
Evidently the fly on the Sisu boardroom wall has been swatted.

 

[italiahorse]

Another Wasps piece up on the CT now. They're looking to play on games on Saturdays having previously said they wouldn't do that so as not to impact CRFC. Now they just want to 'minimize impact' on CRFC whatever that means.

Perhaps a 1pm kick off and then we all trolley over to the butts for 4pm ?

 

[chiefdave]

Perhaps a 1pm kick off and then we all trolley over to the butts for 4pm ?

Wouldn't have thought so. They'll want them in for as long as possible before and after the match spending money.

 

[Terry Gibson's perm]

Wouldn't have thought so. They'll want them in for as long as possible before and after the match spending money.

Why don't they just move Coventry Rugby to the Ricoh and it saves all of the travelling as they could play straight after the other game

 

[chiefdave]

Why don't they just move Coventry Rugby to the Ricoh and it saves all of the travelling as they could play straight after the other game.

They could change their kit and be called Wasps Reserves

 

[Terry Gibson's perm]

They could change their kit and be called Wasps Reserves

Only a matter of time. maybe then we could move to the Butts!

 

[Grendel]

Who knows.
Evidently the fly on the Sisu boardroom wall has been swatted.

Who knows? It said it in the timeline on the article you posted!

 

[Nick]

4th paragraph up from bottom.
Some people need to re read the whole article again.

What's that got to do with trying to buy the Higgs share?

 

[italiahorse]

What's that got to do with trying to buy the Higgs share?

You questioned unencumbered so that can't happen without Higgs share being involved.

 

[Moff]

Now they just want to 'minimize impact' on CRFC whatever that means.

Perhaps if they just pissed off, impact would be completely minimal.

 

[italiahorse]

Only a matter of time. maybe then we could move to the Butts!

Except a major point of buying the Ricoh evidently was that they require a stadium of over 15000 for European matches.

 

[Nick]

You questioned unencumbered so that can't happen without Higgs share being involved.

My point being there was no talk of encumbered at the time of that Higgs offer that you said was a condition.

 

[italiahorse]

Who knows? It said it in the timeline on the article you posted!

So you think Sisu decided later to go for unencumbered. I suggest they decided from the start and only mentioned it later as negotiations heated up.
Don't forget in the same sentence they said they would never rent again.

 

[Nick]

So you think Sisu decided later to go for unencumbered. I suggest they decided from the start and only mentioned it later as negotiations heated up.
Don't forget in the same sentence they said they would never rent again.

So they didn't have it as a condition on the Higgs bid and that link doesn't prove they did?

 

[Grendel]

So you think Sisu decided later to go for unencumbered. I suggest they decided from the start and only mentioned it later as negotiations heated up.
Don't forget in the same sentence they said they would never rent again.

The article states that PWKH said that there was an offer of £5.5 million which Chris West described as "significantly above market value" - this could not have been unencumbered freehold that would be impossible.

The cash offer then was "around" £2.5 million - which was never put to the trustees

So what are you implying -- West is a liar?

 

[stupot07]

Has anyone actually seen our accounts from the championship relegation year considering they were filed about 12 months late? All I've seen is that our total revenue was approx 10.5 million, for all we know 5 million (or close) of that COULD have came from commercial revenues could it have not?

Coventry aren't included on the graph because we hadn't filed our accounts, we're just comparing other clubs on the graph to the revenue that was reported that year from several news outlets?

http://www.skybluestalk.co.uk/showthread.php?t=42971

c£3.5m matchday revenues (15k average)

c£7.2m commercial. That will include the c£5m for being in the championship (PL payment and tv rights), so leaves c£2.2m player sales, merchandise sales, sponsorship, hospitality. And that is with a fully stocked shop at the Ricoh...

Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

 

[SkyBlue_Bear83]

http://www.skybluestalk.co.uk/showthread.php?t=42971

c£3.5m matchday revenues (15k average)

c£7.2m commercial. That will include the c£5m for being in the championship (PL payment and tv rights), so leaves c£2.2m player sales, merchandise sales, sponsorship, hospitality. And that is with a fully stocked shop at the Ricoh...

Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

So by my reckoning we've got to make another 5 mill, taking our total revenue to around 15 million. Which would take our commercial revenue up to 7 million all without access to stadium revenues. Better get promoting them half an half Wasps/CCFC scarves.

 

[Terry Gibson's perm]

Except a major point of buying the Ricoh evidently was that they require a stadium of over 15000 for European matches.

Sorry Italia you have lost me with this one, when I say we I only mean the football club and we are never going to have to worry about nights in Europe.

 

[chiefdave]

Sorry Italia you have lost me with this one, when I say we I only mean the football club and we are never going to have to worry about nights in Europe.

What you talking about, all we need to do is open up a used car lot and shift a few dodgy motors and we'll be playing Barcelona in no time

 

[Intheknow]

I could have sworn people on here insisted that Wasps was owned by a hedge fund and told me I was wrong when I said Richardson owned Wasps. So is the thread title misleading?