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Are we better off because Wasps have gone bump? (1 Viewer)

  • Thread starter JAM See
  • Start date Oct 13, 2022
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Ccfcsj

Well-Known Member
  • Oct 14, 2022
  • #36
Skyblueweeman said:
Who knows how this will shake out in the long term.

The one positive for us (as I see it) the I'm delighted with, is that our landlord will no longer be a nomadic, sh!tty, rugby club who shouldn't be in our city.

Granted, we don't know who our new landlords will be but as long as it's not Wasps, that's a better situation than the last few years for me.
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I wouldn't count your chickens yet - they might still somehow get out of all this still as our landlords. Hopefully not and if they survive it will be back in London, but stranger things have happened
 
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HuckerbyDublinWhelan

Well-Known Member
  • Oct 14, 2022
  • #37
Covkid is keen to bring SISU into every argument isn’t he on drunken wasps.

literally the case of “well SISU can’t either”

expecting him to pop up on a thread about petrol prices saying “yeah the prices have gone up to £1.80 but let’s face it SISU wouldn’t pay them prices
 
Reactions: duffer

Liquid Gold

Well-Known Member
  • Oct 14, 2022
  • #38
HuckerbyDublinWhelan said:
Covkid is keen to bring SISU into every argument isn’t he on drunken wasps.

literally the case of “well SISU can’t either”

expecting him to pop up on a thread about petrol prices saying “yeah the prices have gone up to £1.80 but let’s face it SISU wouldn’t pay them prices
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Emblematic of the turncoats that abandoned us because they saw sisu as the boogeyman now can't get their head around Wasps' owners being worse.
 
Reactions: duffer

Skyblueweeman

Well-Known Member
  • Oct 14, 2022
  • #39
Ccfcsj said:
I wouldn't count your chickens yet - they might still somehow get out of all this still as our landlords. Hopefully not and if they survive it will be back in London, but stranger things have happened
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I don't see how they can continue to be our landlords when they cannot even afford the interest on the £35m they owe to pay for the initial purchase 8 years ago.
 

duffer

Well-Known Member
  • Oct 14, 2022
  • #40
Ccfcsj said:
I wouldn't count your chickens yet - they might still somehow get out of all this still as our landlords. Hopefully not and if they survive it will be back in London, but stranger things have happened
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Well never say never, but to do that they're going to have to find investors with somewhere north of 50-60m to settle all the debts and pay off the bondholders, and they'll have to step up before administration is entered if they want to be sure of being a Premiership team next year.

Given where things are, that seems somewhat unlikely, imho.
 
Reactions: Skyblueweeman

Gynnsthetonic

Well-Known Member
  • Oct 14, 2022
  • #41
Skyblueweeman said:
I don't see how they can continue to be our landlords when they cannot even afford the interest on the £35m they owe to pay for the initial purchase 8 years ago.
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Maybe not Wasp as our landlord but Derek Richardson and a new company as he looks likely the biggest creditor not counting the bondholders
 

duffer

Well-Known Member
  • Oct 14, 2022
  • #42
Gynnsthetonic said:
Maybe not Wasp as our landlord but Derek Richardson and a new company as he looks likely the biggest creditor if not counting the bondholders
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Possible, but I'm not sure. The bondholders want 35m and they are first in line. Then it's HMRC.

There might be that kind of money in the stadium lease if it's sold, but if Richardson had those kind of funds and that kind of desire, I would've thought he'd have stepped up by now and avoided administration and likely relegation, and a possible bidding war for the lease.

I think the talk of boardroom splits is because he wants out now with the most he can get. Guess we'll soon see.
 

Old Warwickshire lad

Well-Known Member
  • Oct 14, 2022
  • #43
SkyB said:
Don't we have the Rugby League world cup being played on it over the next month? Shambolic
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No scrums,no rucks or lineouts. Pitch should hold up fine to one game of RL.
 

Skyblueweeman

Well-Known Member
  • Oct 14, 2022
  • #44
Gynnsthetonic said:
Maybe not Wasp as our landlord but Derek Richardson and a new company as he looks likely the biggest creditor not counting the bondholders
Click to expand...

He'd still need to find £35m (plus interest) to pay the bondholders back before a new company took over it. Then he'd have to finance a loss making rugby club. Given the fact that he's losing millions each year, I'd suggest this won't be the case (but happy to be proven wrong).

I'd also suspect the RFU would (or definitely should) be asking questions if he were to be the new defacto owner of Wasps, given the way they've been run, that's lead them to this situation.
 

NortonSkyBlue

Well-Known Member
  • Oct 14, 2022
  • #45
Who ends up with the stadium is the answer to the question “what will it mean for us?”
if it’s still Wasps then I hope they haven’t dipped into this forum.
if it’s the council then I hope the players have changed in the interim years
if it’s SISU then we are sentenced to life with no get out of jail free card
if it’s a billionaire I hope they have a pound more than Manchester City
if it’s Ashley I hope he wants to finish a place above Newcastle in the years to come
 
Reactions: Amcoventry

Gynnsthetonic

Well-Known Member
  • Oct 14, 2022
  • #46
Skyblueweeman said:
He'd still need to find £35m (plus interest) to pay the bondholders back before a new company took over it. Then he'd have to finance a loss making rugby club. Given the fact that he's losing millions each year, I'd suggest this won't be the case (but happy to be proven wrong).

I'd also suspect the RFU would (or definitely should) be asking questions if he were to be the new defacto owner of Wasps, given the way they've been run, that's lead them to this situation.
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I meant him and a new company as our landlord, nothing to do with owning Wasp, they'll be gone elsewhere
 

chiefdave

Well-Known Member
  • Oct 14, 2022
  • #47
Not sure why Richardson would stick around unless there's a very easy route to getting his money back. The idea that he gives a shit about Wasps is nonsense.

He moved them across the country to make himself money, part of the reason they're saddled with so much debt is because he loaded an extra £10m on the bond to pay himself back. Add to that media reports going back a few years now that his personal wealth was dwindling and he couldn't afford to keep putting money into Wasps and it all points to him grabbing back as much as he can and getting out.
 
Reactions: RegTheDonk and ccfcmad1

rob9872

Well-Known Member
  • Oct 14, 2022
  • #48
 

slowpoke

Well-Known Member
  • Oct 14, 2022
  • #49
Calista said:
That’s a fate worse than death, so I hope somebody has deep enough pockets to make her an offer she can’t refuse.
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Perhaps we should be giving Vito Corleone a ring
 

COVKIDSNEVERQUIT

Well-Known Member
  • Oct 15, 2022
  • #50
SkyB said:
Don't we have the Rugby League world cup being played on it over the next month? Shambolic
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Gynnsthetonic said:
One match
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And then a woman's rugby international match.
 

Mcbean

Well-Known Member
  • Oct 15, 2022
  • #51
Rugby league is much more a running game - scrums are rare - should do less damage the pitch
 
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Ashdown

Well-Known Member
  • Oct 16, 2022
  • #52
If SISU don’t step up to the plate now and make an offer for the Arena, it will just demonstrate once and for all that they were just trying to get their hands on it for next to nothing with all those court cases. I suppose the sharks will start bleating about new stadium never never land again though……
 
Reactions: Incognitocov

fatso

Well-Known Member
  • Oct 16, 2022
  • #53
Ashdown said:
If SISU don’t step up to the plate now and make an offer for the Arena, it will just demonstrate once and for all that they were just trying to get their hands on it for next to nothing with all those court cases. I suppose the sharks will start bleating about new stadium never never land again though……
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They will certainly never have a better chance.
 

shmmeee

Well-Known Member
  • Oct 16, 2022
  • #54
Ashdown said:
If SISU don’t step up to the plate now and make an offer for the Arena, it will just demonstrate once and for all that they were just trying to get their hands on it for next to nothing with all those court cases. I suppose the sharks will start bleating about new stadium never never land again though……
Click to expand...

Or even better let the club and the arena go to someone competent and rich enough for Championship football
 
Reactions: KAB, Sky_Blue_Dreamer, Ashdown and 4 others
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