not really sure what your point is. aren't both companies debts mainly to their owners?No the credit rating at company house shows wasps holdings at the same risk rating as Otium - unless you are saying les Reid writes for company house? Negative equity is £22 million now isn't it?
Credit ratings mean nothing. No more than an indicator. And even less than that if the business model is changing. They take a view on the last set of audited accounts; which can itself be out of date by the time they're filed. I've had what appear to be gilt-edged companies with a brilliant credit rating take my business for £200K; but equally we have some start ups to whom we shouldn't extend a credit line operating successful ledgers in excess of £500K. They really are pointless
Yep. I've no savings, have always lived within my overdraft, and yet the bank are always flinging credit card offers at me due to my excellent credit score!Credit ratings mean nothing. No more than an indicator. And even less than that if the business model is changing. They take a view on the last set of audited accounts; which can itself be out of date by the time they're filed. I've had what appear to be gilt-edged companies with a brilliant credit rating take my business for £200K; but equally we have some start ups to whom we shouldn't extend a credit line operating successful ledgers in excess of £500K. They really are pointless
So if Derek gets bored and wants his money back the credit rating means nothing?
Same can be said for our owners if they decide to get bored...
So if Derek gets bored and wants his money back the credit rating means nothing?
Sisu seem to have disappeared, as has the football club in the latest 'family tree'.
So if Derek gets bored and wants his money back the credit rating means nothing?
The football club is the company Otium.
Sisu never owned the club - they act on behalf of the shareholders.
They just manage investors money, they don't own the club.
A 250 year lease of the Ricoh is worth more than the credit rating. I believe that's what is known as an asset. Something that SISU and the myriad of companies that make up CCFC don't have.
but Derek is showing no signs of getting bored.. Same can be said for our owners if they decide to get bored...
Richardson seems to care about Wasps .
Do you now agree that Richardson is the owner then?
Shame we were never offered it then.
So in your view they could sell tomorrow and make a financial killing?
Shame we were never offered it then.
So in your view they could sell tomorrow and make a financial killing?
Shame we were never offered it then.
So in your view they could sell tomorrow and make a financial killing?
He is the main creditor. It's somewhat difficult to work out the shareholding structure of the Maltese hedge fund. Do you know it?
Out of interest why are you far more passionate defending wasps and it's ownership structure than anything else on here? Before you argue against that we can extract all your posting history if we have to.
No passion, just not blind to facts and have my eyes open. You keep insisting there is a hedge fund, from what I read it is clear there is no Maltese hedge fund. From what I also read, Richardson is the owner.
By the way, do you believe the earth is flat or round?
Surely Simon would have got an accountant to look at those figures before writing his article?
Obviously drinks in the wrong wine bars.
Aw come on; let's stop pointing to these old accounts to point to Wasps being loss-making. They have a profound change in their business; and it's much more accurate to say they they were loss-making, and now we don't know. As opposed to talking them down as loss-making in the current. They took more in F&B's at the Leinster game than they did in the whole of last season. Let's see how that - and other revenues - pan out in newer accounts before we continually dismiss their finances
What a shame Wasps got Derek Richardson, and we got bloody Bryan.
a few decent crowds supported by a fair amount of free tickets doesn't convince me that things will have changed to the tune of £4m.
Haven't the ticket prices for Wasps games also dropped from what was being charged at Wycombe?
Free tickets is something you have to be careful with, of course it helps fill the ground but you have to take care not to devalue your product. People are getting used to not paying full price with freebies, offers etc. If and when they stop the majority of that and people are faced with having to pay full price every game will it be perceived as a price hike and if so will that put a significant number of people off attending?
Yep. I've no savings, have always lived within my overdraft, and yet the bank are always flinging credit card offers at me due to my excellent credit score!
Not the same comparison, but an indicator of how these ratings are formulated. Bit like the FIFA World rankings really, that seem to think England are top 10 material.
I think the 'Impairment of Goodwill' is the cost of litigation. lolFrom the accounts I can dig out items like:
- Provisions from amounts due from group undertakings (whatever that means) - £0,75m
- Impairment of Goodwill - £2,2m
- Land & Buildings - £0,3m
Haven't the ticket prices for Wasps games also dropped from what was being charged at Wycombe?
Free tickets is something you have to be careful with, of course it helps fill the ground but you have to take care not to devalue your product. People are getting used to not paying full price with freebies, offers etc. If and when they stop the majority of that and people are faced with having to pay full price every game will it be perceived as a price hike and if so will that put a significant number of people off attending?
Plus heartache
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