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There's a bit more on this here. https://www.mkfm.com/news/business/former-wasps-chief-spearheads-bid-for-stricken-premiership-rugby-club/ Interestingly there's a bit in that report that says... "People close to the auction of Wasps say a solvent deal to buy the club and its stadium, either...

Crap game. I transferred Tom White in last season. Cost me a bloody fortune in fees and wages but now none of the other players will pass to him and my fan rating is in minus figures.

If you can show me a business that would genuinely go bust because of workers demands that have been ignored for so long that they've reverted to strike action, then please do so. Unions aren't stupid these days Strange that Royal Mail are losing a million a day when the workers want more...

OK, so genuinely, let's work this through. I'm, say, a postman who's worked in my job diligently for a good few years. I've got job security, in that I can't be sacked on a whim or made to work on a ZHC, but my pay has lagged far behind inflation for a number of years, so in effect I've taken a...

So unless it's a "worthy" cause, in your opinion, you'd remove the right to strike entirely?

It was the flag that finally sealed the deal. Every man has his price. 😁

It'd be nice to see some of them in jail for a while. It shouldn't trouble them too much, everyone who reads the Mail thinks it's like a holiday camp anyway.

There's a fair bit about a Trustee's role in the link below, if you're interested. In essence though, OSB is on the ball as usual. The only place I'd differ, is that I'd have thought at this point the Trustee would be actively organising a meeting of bondholders to share information and gauge...

In fairness, apparently their 1,500 paying fans bring at least £11m into the city every week, whereas our 20,000 or so aren't really worth the hassle.

Fair play. SBT wins the internet. 😁

There's bad PR, and then there's _bad_ PR. There's no way kicking us out of the CBS when we've got a lease and we're paying the rent would fly. Even CCC aren't that daft. Probably.

I think they might be, but I don't know for sure. This implies that it certainly could work that way.... https://www.gov.uk/government/publications/hmrc-as-a-preferential-creditor/hmrc-as-a-preferential-creditor

One last thought, and I'm happy to be corrected on this. Even if the lease does somehow move beyond the bondholders' grasp, Wasps are still in a horrible position: Wasps Holdings and ACL are guarantors of the £35m loan, if the bondholders can't sell the lease, they're surely going to come...

Agreed. It's starting to make the hunt the for the golden share look straightforward!

I don't want to be unfair to Simon Gilbert, but there's definitely a well written post on ADVFN wasps saying that legally the bondholders could step in and stop the lease being surrendered to the Council; this by dint of holding a first charge against it (a point I assumed was supported by...

Will the next big discovery be that they've found out the bondholders have a charge on the lease? FFS, we've been ahead of this story for months on here...

And in other news, Wasps are back in a recruitment freeze. It might just be me, but reading between the lines I think this is a slightly more downbeat (i.e. realistic) interview by the head coach. https://www.rugbypass.com/news/what-wasps-players-were-told-wednesday-about-second-court-filing/

And the regulations require a bond prospectus, that really long document that outlines the business structures, breaks down the accounts, the valuations, and the risks. The current one is clearly out of date, given all of the changes that have happened and the fact the bond redemption date...

It's an absolutely fair point. I'm thinking that whilst he might be able to sit on his hands during the admin process and say, "I don't know what you want me to do", he'll find that a lot more perilous if he says unilaterally "we'll take 50%" when by all accounts the lease and assets should...

Me either. Gutted.