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They are supposed to be issuing a consent solicitation by the end of August which will basically be asking the bondholders to agree to a change to the terms of the bonds. Doesn’t necessarily mean they will have the refinance in place though: if they did presumably they would redeem the bonds...

Richardson is the ultimate guarantor, he could put his hand in his own pocket for the interest payment I suppose, as it would protect the other £18 m he is owed.

It all depends on the bondholders response to Wasps revised plan to, presumably, extend the repayment deadline whilst they pursue alternative financing options. Given the trajectory of interest rates, refinancing is only going to get more expensive. Given the inflation trajectory, there is the...

Thanks, I was getting confused - I thought they were the timelines but interpreted your post as saying already filed (for 2022)

Have they file June 2022 accounts, if so where are they to be found?

Yo would bloody well hope they can access it if they are paying for it!!

You would almost think it was part of a cunning plan.

Snap

If so, it’s odd that (a) it was never wholly owned by Wasps and (b) is now wholly owned by a third party company (since the day of the bonds default).

From the daily Mail today Coventry could lose points Coventry City could be hit by a points deduction with their Championship rivals furious that their opening three home games of the season have been postponed due to the pitch at their ground being deemed unsafe. Huddersfield Town’s...

I thought that the bond money had paid that back, along with paying back Richardson and paying the first 3 years bonds interest.

Wasps holdings operate the RFC and are guarantors of the bonds.

I think the points deduction would be 35 at least. I am not sure that relegation for financial impropriety can be entirely ruled out in these particular circumstances. It is still a sanction in RFU regulations and would address the issue the Premiership has in that their are 13 teams, not 12, in...

Showing your age, Otis. Wonder you can get to any games.

It’s gone very quiet over there.

Is the £180k a reliable figure? Or just picked up from the bondholders forum?

I hate predictive text.

It is what was said in July, the key point here is that the information has only just been sent to the bondholder, weeks after the event. There have been several posts about bondholders not having been kept appraised of events, but they are all on it now. Presumably the CEO of Hargreaves...

Whoever it is, been signed up to that site since August 2008

Post on Wasp bondholders forum that the cost of the repair will be paid initially by CCFC and Wasps will have to repay the £180,000 or so by agreement. Boils down to wasps hoping to get away with it because they haven’t got a pot to piss in.