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Deleted member 2477

Guest
AFCCOVENTRY said:
Meanwhile…

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I hope they die a painful and sorry death along with the stuck up self centred idiots who follow the cuckoos.
if/when they go bust and finally leave our city the fans need a big celebration party in the city and invite both local and national media with ceremonial burning of the wasps flag
 
R

rexo87

Well-Known Member
marcusp said:
I hope they die a painful and sorry death along with the stuck up self centred idiots who follow the cuckoos.
if/when they go bust and finally leave our city the fans need a big celebration party in the city and invite both local and national media with ceremonial burning of the wasps flag
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Awaiting the bed wetters coming and saying this is too far and you shouldn't wish that upon fellow sports fans... I completely agree with you. Can't wait for the day it happens

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Gynnsthetonic

Gynnsthetonic

Well-Known Member
rexo87 said:
Awaiting the bed wetters coming and saying this is too far and you shouldn't wish that upon fellow sports fans... I completely agree with you. Can't wait for the day it happens

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Thing is there is already a Wasps club that play in London, if they all starting following them aka Wimbledon FC they could start rising up the pyramid with all the support they'd have they'd soon be at least championship level. Also let's not forget all the coach loads of Coventry based fans that will be heading down the M1 every other Saturday also🤣
 
H

HuckerbyDublinWhelan

Well-Known Member
rexo87 said:
Awaiting the bed wetters coming and saying this is too far and you shouldn't wish that upon fellow sports fans... I completely agree with you. Can't wait for the day it happens

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giphy.gif


“They’ve got to go the taxman and get something… I tell you what, I’d love it if they go bust… love it”
 
S

sotvtoday

Well-Known Member
marcusp said:
The only thing to come out of this sorry mess whoever you blame is its clear that Wasps dont give a flying fox about ccfc and the club. We are just another income to them to keep their heads above water whilst they spend the bare minimum on the cbs so they can play their egg chasing in the cuckoo nest
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Really? What a surprise. Business looks after it's own interests.
 
Skybluedownunder

Skybluedownunder

Well-Known Member
Let’s say they file for insolvency or whatever and they have to sell off assets. Don’t shoot me if I’m wrong in my assumptions here but what if their 250 year lease of the ground was for sale? And we say bid £20m for that or arguement sake and the debt collector accepted the bid, would that then mean they’d be the one who is a club without a home? And we could then be their landlords? Or they could alternatively find elsewhere to play?

Sounds so simple I know or would the council be more heavily involved?


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Colin Steins Smile

Colin Steins Smile

Well-Known Member
Skybluedownunder said:
Let’s say they file for insolvency or whatever and they have to sell off assets. Don’t shoot me if I’m wrong in my assumptions here but what if their 250 year lease of the ground was for sale? And we say bid £20m for that or arguement sake and the debt collector accepted the bid, would that then mean they’d be the one who is a club without a home? And we could then be their landlords? Or they could alternatively find elsewhere to play?

Sounds so simple I know or would the council be more heavily involved?


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Wasps look insolvent if you take into account the liabilities that are now being reported:

1. Outstanding payments to HMRC
2. Interest payments for May - August for bond holders
3. Repayment of £35m bond
4. Loan from HM Government for Covid-19

The assets against liabilities looks in deficit if the report from the Daily Telegraph is correct:

"The most recent set of accounts for Wasps Holdings, covering the year ending June 2021, showed it recorded a loss of £18.5 million over a two-year period and had net current liabilities of £54.7 million.

The bondholder debt was initially secured against the value of the stadium, which the accounts valued at £52.4 million".

West Midlands Authority surely cannot lend Wasps any money. It would be sheer stupid waste of public funds.
 
Mcbean

Mcbean

Well-Known Member
It will be up to the receiver / administrator- they will be responsible for paying off the bond holder - the current owner is minted as an individual
 
M

martincov

Active Member
Colin Steins Smile said:
Wasps look insolvent if you take into account the liabilities that are now being reported:

1. Outstanding payments to HMRC
2. Interest payments for May - August for bond holders
3. Repayment of £35m bond
4. Loan from HM Government for Covid-19

The assets against liabilities looks in deficit if the report from the Daily Telegraph is correct:

"The most recent set of accounts for Wasps Holdings, covering the year ending June 2021, showed it recorded a loss of £18.5 million over a two-year period and had net current liabilities of £54.7 million.

The bondholder debt was initially secured against the value of the stadium, which the accounts valued at £52.4 million".

West Midlands Authority surely cannot lend Wasps any money. It would be sheer stupid waste of public funds.
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Did Pride park not go for £23 / 24 million? The CBSA wont go for more than that in whatever eventuality. The possible loan from WMCA is to a developement company owned by Richardson but for an hotel next to the stadium? that one is a different matter as it is not wasps. Could he wangle it to get his own personal stuff sorted? I am a Richardson and after the one CCFC had and now this one, deedpole calls hehe.
 
Senior Vick from Alicante

Senior Vick from Alicante

Well-Known Member
Colin Steins Smile said:
Wasps look insolvent if you take into account the liabilities that are now being reported:

1. Outstanding payments to HMRC
2. Interest payments for May - August for bond holders
3. Repayment of £35m bond
4. Loan from HM Government for Covid-19

The assets against liabilities looks in deficit if the report from the Daily Telegraph is correct:

"The most recent set of accounts for Wasps Holdings, covering the year ending June 2021, showed it recorded a loss of £18.5 million over a two-year period and had net current liabilities of £54.7 million.

The bondholder debt was initially secured against the value of the stadium, which the accounts valued at £52.4 million".

West Midlands Authority surely cannot lend Wasps any money. It would be sheer stupid waste of public funds.
Click to expand...
Wasps as a team are separate from Wasps Holdings so the team could carry on if Richardson the owner pays HMRC. The Arena business could be forced into administration by the bond holders so they can force a sale to recoup there losses. Any purchaser would have to negotiate a deal with the bond holders either way. Wasps Holdings would want the 35 million bond back so a prospective purchaser would be better to buy it out of any administration. Or Wasps could say to the bond holders the business is fucked we have an offer from X for 25 mill do you want to take it or we go bust and you get less? The tax payer would possibly take a hair cut for the COVID loan.
 
Grendel

Grendel

Well-Known Member
Senior Vick from Alicante said:
Wasps as a team are separate from Wasps Holdings so the team could carry on if Richardson the owner pays HMRC. The Arena business could be forced into administration by the bond holders so they can force a sale to recoup there losses. Any purchaser would have to negotiate a deal with the bond holders either way. Wasps Holdings would want the 35 million bond back so a prospective purchaser would be better to buy it out of any administration. Or Wasps could say to the bond holders the business is fucked we have an offer from X for 25 mill do you want to take it or we go bust and you get less? The tax payer would possibly take a hair cut for the COVID loan.
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I don’t think much of this is factually accurate
 
Earlsdon_Skyblue1

Earlsdon_Skyblue1

Well-Known Member
marcusp said:
I hope they die a painful and sorry death along with the stuck up self centred idiots who follow the cuckoos.
if/when they go bust and finally leave our city the fans need a big celebration party in the city and invite both local and national media with ceremonial burning of the wasps flag
Click to expand...

There should be an anonymous admission section on the club website.

Anyone that you know who went to go and watch wasps secretly or openly, or even tried to justify their existence in Coventry should be named and shamed.

Then they can have their membership points docked as an absolute bare minimum!
 
SHUNT31

SHUNT31

Well-Known Member
Earlsdon_Skyblue1 said:
There should be an anonymous admission section on the club website.

Anyone that you know who went to go and watch wasps secretly or openly, or even tried to justify their existence in Coventry should be named and shamed.

Then they can have their membership points docked as an absolute bare minimum!
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Shave their heads and march them through the city centre


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S

SkyBlueMatt

Well-Known Member
Earlsdon_Skyblue1 said:
There should be an anonymous admission section on the club website.

Anyone that you know who went to go and watch wasps secretly or openly, or even tried to justify their existence in Coventry should be named and shamed.

Then they can have their membership points docked as an absolute bare minimum!
Click to expand...
baddies-evil.gif


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D

Deleted member 2477

Guest
Colin Steins Smile said:
Wasps look insolvent if you take into account the liabilities that are now being reported:

1. Outstanding payments to HMRC
2. Interest payments for May - August for bond holders
3. Repayment of £35m bond
4. Loan from HM Government for Covid-19

The assets against liabilities looks in deficit if the report from the Daily Telegraph is correct:

"The most recent set of accounts for Wasps Holdings, covering the year ending June 2021, showed it recorded a loss of £18.5 million over a two-year period and had net current liabilities of £54.7 million.

The bondholder debt was initially secured against the value of the stadium, which the accounts valued at £52.4 million".

West Midlands Authority surely cannot lend Wasps any money. It would be sheer stupid waste of public funds.
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Not just stupid but also immoral. The coventry tax payer especially in the current climate would not be happy
 
S

Skybluebeliever

Well-Known Member
Sky Blue Pete said:
I can only go on what I can surmise from public statements
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Earlsdon_Skyblue1 said:
There should be an anonymous admission section on the club website.

Anyone that you know who went to go and watch wasps secretly or openly, or even tried to justify their existence in Coventry should be named and shamed.

Then they can have their membership points docked as an absolute bare minimum!
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There is a list of pubs in Warwickshire and Coventry on the wasps website that are affiliated to them
 
C

covboy1987

Well-Known Member
Senior Vick from Alicante said:
Wasps as a team are separate from Wasps Holdings so the team could carry on if Richardson the owner pays HMRC. The Arena business could be forced into administration by the bond holders so they can force a sale to recoup there losses. Any purchaser would have to negotiate a deal with the bond holders either way. Wasps Holdings would want the 35 million bond back so a prospective purchaser would be better to buy it out of any administration. Or Wasps could say to the bond holders the business is fucked we have an offer from X for 25 mill do you want to take it or we go bust and you get less? The tax payer would possibly take a hair cut for the COVID loan.
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I have not a great knowledge of liquidation or administration so appreciate someone knowledgeable thoughts - Ts the rumor in the telegraph says that CCFC will put a claim in for lost revenue and the covering of a potential large fine from the ELF - How are wasps going to pay this in there current circumstances including chipping in for the pitch ? Could CCFC put wasps into liquidation/administration ? Will CCFC ever get any of the claim back if wasps went into Liquidation/administration ? If wasps go into liquidation/administration change there name to say Wasps 2 and start again no debt - would the council dare give them another lease under a new company name if the stadium was once again up for grabs and they offered more for the stadium
 
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