Wasps (4 Viewers)

[Briles]

Interesting in depth article regarding their situation. I think they genuinely could fold

Wasps rugby union club defaults on repaying bond investors

Wasps Finance raised £35m from investors in 2015, partly to pay back a loan linked to the purchase of an arena in Coventry, and it was due to return capital to investors in mid-May.

www.thisismoney.co.uk

 

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[shepardo01]

Interesting in depth article regarding their situation. I think they genuinely could fold

Wasps rugby union club defaults on repaying bond investors

Wasps Finance raised £35m from investors in 2015, partly to pay back a loan linked to the purchase of an arena in Coventry, and it was due to return capital to investors in mid-May.

www.thisismoney.co.uk

Mate works "in the city" and restructures/shuts down struggling businesses. He's done some big ones including football administration.
Here's what he said,
"It’s not good for wasps but not the end of the road either. Usually ends with a restructuring of the debt and everyone carries on rather than complete collapse but who knows. I’ll see what I can find out!!!"

 

[PUSB-We_are_going_up]

I fucking hope so Briles. Hate them boring cunts, I would never wish any club of any sport to fold, other than these piss pots, everything about them I fucking hate. We should look to get our own stadium and sue them for all they’re worth

 

[PUSB-We_are_going_up]

I hope Joy gets as many handbags as she wants out of the money made from suing them, every penny to go on her collection and I wouldn’t care if they died, she would be a hero in my eyes (for a day or two)

 

[PUSB-We_are_going_up]

Time to bring back the fuck the wasps song but remive sisu and insert clubs name we are playing?

 

[Hobo]

The people who bought bonds should have known they were high risk.

The bonds holders are annoyed because of the way Wasps have handled the situation in recent months and have left them between a rock and a hard place. They will probably just have to accept whatever....

It has certainly damaged Wasps reputation. Hence them finding it hard to refinance the package. I dont think it will send them under. But they are going to have to restructure and sell off assests. Their last set of accounts recognised that if the bonds could not be refinanced.

They are heading into a very tough time and a lot of uncertainty

 

[chiefdave]

The people who bought bonds should have known they were high risk.

They should have but a suspect a decent percentage were sold to supporters who didn’t really know what they were getting into and fell for the richest and most successful club in the world stuff. Wouldn’t have crossed their minds they could get to this stage and have no way of getting their money out.

 

[Samo]

Mate works "in the city" and restructures/shuts down struggling businesses. He's done some big ones including football administration.
Here's what he said,
"It’s not good for wasps but not the end of the road either. Usually ends with a restructuring of the debt and everyone carries on rather than complete collapse but who knows. I’ll see what I can find out!!!"

Wait a second... don't SISU buy struggling businesses?

 

[CCFCSteve]

The people who bought bonds should have known they were high risk.

The bonds holders are annoyed because of the way Wasps have handled the situation in recent months and have left them between a rock and a hard place. They will probably just have to accept whatever....

It has certainly damaged Wasps reputation. Hence them finding it hard to refinance the package. I dont think it will send them under. But they are going to have to restructure and sell off assests. Their last set of accounts recognised that if the bonds could not be refinanced.

They are heading into a very tough time and a lot of uncertainty

To be fair to bondholders I presume most invested believing that even if the rugby club didn’t remain viable, the stadium was of sufficient value to more than cover the outstanding bonds and/or enable a refinance. I’m not sure it is

 

[Hiraeth]

To be fair to bondholders I presume most invested believing that even if the rugby club didn’t remain viable, the stadium was of sufficient value to more than cover the outstanding bonds and/or enable a refinance. I’m not sure it is

Won't the stadium have sufficient value now that the South Pavilion Entrance renovation has been completed for the Commonwealth Games?

Hangabouts, the South Pavilion Entrance renovation for which Wasps received government grant funding was completed, wasn't it?

 

[slowpoke]

Not sure how this will end, I think Wasps selling the Arena to a third party is a possibility they then might move elsewhere Alexander Stadium Birmingham perhaps that would be good riddance but they won’t sell to sisu and we, ccfc will be piggy in the middle unfortunately.

 

[ajl]

Time to bring back the fuck the wasps song but remive sisu and insert clubs name we are playing?

Could just do the build a bonfire song with wasp/council

Sent from my Pixel 6 Pro using Tapatalk

 

[Hobo]

To be fair to bondholders I presume most invested believing that even if the rugby club didn’t remain viable, the stadium was of sufficient value to more than cover the outstanding bonds and/or enable a refinance. I’m not sure it is

They might have assumed that? But the value of the stadium is only part of the equation. The are entering a high risk investment, hence the above average interest rate. Like stocks and shares they can go up and down in value.

Fans would be stupid to put their money in without seeking proper financial advice. Wasps history of financial losses were well documented before this scheme and should have been taken into consideration when evaluating the risk. You would be really stupid to just assume goodwill.

Investing in this type of scheme to try and win a higher than average return should be part of a spread of investments with a lower risk to try and ensure you don't lose money.

 

[Happy_Martian]

Wait a second... don't SISU buy struggling businesses?

Not sure how this will end, I think Wasps selling the Arena to a third party is a possibility they then might move elsewhere Alexander Stadium Birmingham perhaps that would be good riddance but they won’t sell to sisu and we, ccfc will be piggy in the middle unfortunately.

There is an easy out for this problem. We do a Robert Jarni on them. They won't sell to us so get a third party to offer the stadium valuation + 10% to get the asset. Then a week later, SiSu pops up and buys from the third party. Overson likes throwing his money and name around so surely he could organise a consortium to buy ?