No way is the stadium valuation anything like the figures they are banding around, at least 13m worth of dilaps for a start so that will come the totally amount
Still can't believe Eastwood, Vaughan or Richhardson haven't come out with any statements these past 6 weeks, totally silent, the bond holders have only had snippets from the financial trustees.
Like I've said before Cov Rugger want to redevelop The Butts, surely an ideal time to apply for a grant, after all they are an iconic Rugby Club steeped in history. 13m should do it.
After paying back Richardson and paying the the interest out of the initial 35m what was the plan to pay it back, further loans by the look of it which may not happen as the business insolvent
Your club is basically insolvent, you've not issued the accounts, you've defaulted on the bonds and losing 10m a year, how Wasp are still allowed to trade I don't know.
Someone on another forum mentioned the August 12th deadline (again) is the last day of the Commonwealth games, could this have a bearing as they don't want the stadium operators going into receivership during this time