More Wasps BS? (1 Viewer)

peaches and cream said:

Rugby doesn't have the structure of 4 leagues like football so once your out of the top league your practically on the verge of semi pro and its almost impossible to return from there as the revenue streams are so low.

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The actual match day income here isn’t much different is it?

They have also tried the same tactic with exhibitions - I.e reduced very cheap stands for clients. I did some promo work for a company and the stands were cheap. Problem is no one will pay more.

The non rugby stuff breaks even so it’s all revenue and zero profit. They have pulled a lot of events as some will be loss making.

I can’t actually see financially how they are better off

peaches and cream said:

Rugby doesn't have the structure of 4 leagues like football so once your out of the top league your practically on the verge of semi pro and its almost impossible to return from there as the revenue streams are so low.

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It just goes to show my knowledge of rugby.

SkyBlueDom26 said:

Calling himself peaches and cream proves alot tbh

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Like what?

Sick Boy said:

Like what?

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He likes 90's RnB like the rest of us.

T

The coventrian said:

Just because its wasps I suppose. If it was another club doing this would any of our fans care? Nobody really cares about what's happening at Henley its just another excuse for a wasps bash(nothing wrong with that).

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The local clubs that are being evicted as a result care very much.

The coventrian said:

Just because its wasps I suppose. If it was another club doing this would any of our fans care? Nobody really cares about what's happening at Henley its just another excuse for a wasps bash(nothing wrong with that).

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Possibly, but on the flip side if SISU were doing it, there’d be mass outrage with 5 page spreads in the telegraph.

we’re pointing out the hypocrisy of others.

Grendel said:

The actual match day income here isn’t much different is it?

They have also tried the same tactic with exhibitions - I.e reduced very cheap stands for clients. I did some promo work for a company and the stands were cheap. Problem is no one will pay more.

The non rugby stuff breaks even so it’s all revenue and zero profit. They have pulled a lot of events as some will be loss making.

I can’t actually see financially how they are better off

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even with non rugby stuff breaking even now they will believe they can make it profitable and even with the legendary free tickets the attendances are higher than before the move to Coventry, They are hoping that eventually the non rugby stuff will help fund the rugby while they build a fan base capable of supporting the club making it financially sound (thats my opinion anyway)

peaches and cream said:

even with non rugby stuff breaking even now they will believe they can make it profitable and even with the legendary free tickets the attendances are higher than before the move to Coventry, They are hoping that eventually the non rugby stuff will help fund the rugby while they build a fan base capable of supporting the club making it financially sound (thats my opinion anyway)

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Eventually? How long has it been now?

Are they the richest rugby club in the world yet or was that more bullshit?

peaches and cream said:

even with non rugby stuff breaking even now they will believe they can make it profitable and even with the legendary free tickets the attendances are higher than before the move to Coventry, They are hoping that eventually the non rugby stuff will help fund the rugby while they build a fan base capable of supporting the club making it financially sound (thats my opinion anyway)

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Let’s ignore the fact they have accumulated £50 million of debt to achieve massive losses every year which are colossal when they take out the one off sponsor payment

Even the sensible ones on drunken drivel admit the business is a basket case

Nick said:

Eventually? How long has it been now?

Are they the richest rugby club in the world yet or was that more bullshit?

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you do like to fish for a reaction don't you and in fairness quite a lot on here bite

peaches and cream said:

you do like to fish for a reaction don't you and in fairness quite a lot on here bite

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You don't like to reply to the points made....

Grendel said:

Let’s ignore the fact they have accumulated £50 million of debt to achieve massive losses every year which are colossal when they take out the one off sponsor payment

Even the sensible ones on drunken drivel admit the business is a basket case

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absolutely but they obviously believe they can turn it around, the one off payment will keep them going for a bit just like your player sales keep you afloat.

Nick said:

You don't like to reply to the points made....

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i try to answer all points in a reasonable way so if you point out any I've missed i will be happy to reply to them for you

peaches and cream said:

absolutely but they obviously believe they can turn it around, the one off payment will keep them going for a bit just like your player sales keep you afloat.

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Again, they also believed they would be the richest club in the world within 2 years....

Nick said:

Again, they also believed they would be the richest club in the world within 2 years....

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Stupid quotes made by people living in a dream word that should know better a bit like Tim Fisher claiming in 2014 that your new stadium would be ready by 2017 (stand to be corrected on the dates)

peaches and cream said:

absolutely but they obviously believe they can turn it around, the one off payment will keep them going for a bit just like your player sales keep you afloat.

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The one off payment has restrictions on usage so it’s nowhere near the same comparison

peaches and cream said:

Stupid quotes made by people living in a dream word that should know better a bit like Tim Fisher claiming in 2014 that your new stadium would be ready by 2017 (stand to be corrected on the dates)

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Difference is you and the other Wasps fans seem to swallow every last drop of it all.

Grendel said:

The one off payment has restrictions on usage so it’s nowhere near the same comparison

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Restriction is it is to be used for infrastructure not player recruitment or wages, just means that money set aside for the infrastructure has now been freed up to be used for other things like player recruitment and wages, how do you think half the teams in the league that in previous seasons haven't been able spend up to the salary cap have been able to recruit so heavily for this season.

peaches and cream said:

Restriction is it is to be used for infrastructure not player recruitment or wages, just means that money set aside for the infrastructure has now been freed up to be used for other things like player recruitment and wages, how do you think half the teams in the league that in previous seasons haven't been able spend up to the salary cap have been able to recruit so heavily for this season.

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not really as they don’t have the money anyway in the first place to set aside. Also a significant amount has to be paid back - up to 20% of turnover a season. If that’s total group turnover wasps could end up paying more back than have have received for rugby related revenue

Nick said:

Difference is you and the other Wasps fans seem to swallow every last drop of it all.

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like all clubs some supporters do some don't, if you can show me any of my posts that show I "swallow every last drop of it all" i will eat a large slice of humble pie,

peaches and cream said:

like all clubs some supporters do some don't, if you can show me any of my posts that show I "swallow every last drop of it all" i will eat a large slice of humble pie,

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Read up about how they "had to move or die".

Grendel said:

not really as they don’t have the money anyway in the first place to set aside. Also a significant amount has to be paid back - up to 20% of turnover a season. If that’s total group turnover wasps could end up paying more back than have have received for rugby related revenue

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The money isn't paid back each club receives less from the PRL each season as a percentage of revenue now goes to CVC the theory is CVC help make the premiership more profitable and increase its value so that the smaller percentage the clubs get is coming from a more valuable pot and the monetary value is actually higher

Nick said:

Read up about how they "had to move or die".

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if wasps hadn't moved and carried one in their present form they would have eventually gone bust

peaches and cream said:

Restriction is it is to be used for infrastructure not player recruitment or wages, just means that money set aside for the infrastructure has now been freed up to be used for other things like player recruitment and wages, how do you think half the teams in the league that in previous seasons haven't been able spend up to the salary cap have been able to recruit so heavily for this season.

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Infrastructure? Hate to break the news to you but all the CVC money Wasps received went on covering the losses in 2018.

peaches and cream said:

if wasps hadn't moved and carried one in their present form they would have eventually gone bust

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Give it a couple of years and the same will be said again.

peaches and cream said:

The money isn't paid back each club receives less from the PRL each season as a percentage of revenue now goes to CVC the theory is CVC help make the premiership more profitable and increase its value so that the smaller percentage the clubs get is coming from a more valuable pot and the monetary value is actually higher

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How is that not paying back?

My boss has lent me £1000 from this month's wages which are normally £2000 but I only get paid £1000 on my payday. What is that if not repaying my debt?

peaches and cream said:

The money isn't paid back each club receives less from the PRL each season as a percentage of revenue now goes to CVC the theory is CVC help make the premiership more profitable and increase its value so that the smaller percentage the clubs get is coming from a more valuable pot and the monetary value is actually higher

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that is laying back it’s a tax on future revenues in effect

peaches and cream said:

if wasps hadn't moved and carried one in their present form they would have eventually gone bust

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They lost £3m a year at Wycombe. Last year at the Ricoh they had underlying loss of £12m.

But it's OK as you "hope" eventually the "non rugby stuff" will sort it all out and they establish a foothold in the city.

What was the debt level like at High Wycombe?

Besides the bonds the other big problem coming up for Wasps is they are losing so much annually they are reaching the limit of what their owners personal wealth can sustain. What happens when he can't afford to put anymore in?

Hi P&C, fascinating reading, one question from me. Do you think it's realistic that the Wasps end up playing at Alexander Stadium once the commonwealth games are done?

Peter Billing said:

Infrastructure? Hate to break the news to you but all the CVC money Wasps received went on covering the losses in 2018.

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I thought there were caveats as to what the money could be spent on as well.

When the deal was first signed people were assuming the money would be put towards servicing the bond issue but I'm sure it transpired they wouldn't be able to use it for that.

CCFC88 said:

Hi P&C, fascinating reading, one question from me. Do you think it's realistic that the Wasps end up playing at Alexander Stadium once the commonwealth games are done?

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CCFC88 said:

Hi P&C, fascinating reading, one question from me. Do you think it's realistic that the Wasps end up playing at Alexander Stadium once the commonwealth games are done?

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I don’t because the legacy stuff has largely already been planned afaik. Birchfield Harriers are going to be located there (along with various other tenants) and it will become a multi-use community asset.

Edit: won’t let me link the article but decipher this (remove the spaces) if interested:
2nd Edit: link seems to work for me with spaces still in it...

https://www. birmingham. gov.uk/news/article/481/planning_application_submitted_for_alexander_stadium_redevelopment

BornSlippySkyBlue said:

I don’t because the legacy stuff has largely already been planned afaik. Birchfield Harriers are going to be located there (along with various other tenants) and it will become a multi-use community asset.

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Like the one at Henley................................................

ceetee said:

Like the one at Henley................................................

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Ha, good point.