In the sales blurb for the bond it states that Wasps own the arena outright, would seem to be a odd thing to get wrong. Also says the Arena has been valued at £48m.
Which link is that on?
Why is asking for money from supporters clever?
So realistically, if it all went to pot what would happen?
They would have to try and flog the lease / ACL to pay people back?
Which link is that on?
Surely they wouldn't get away with blatantly trying to deceive?
Where have you seen it?Some interesting(?maybe?) figures in the prospectus, needs OSB to have a look at really, shows that ACL also made a loss for the six months to Nov 14. The money they raise from the bond will repay the Council, and up to £10m to repay loans given by Richardson, some other loans, and then fund ACL running costs and wasps running costs.
Where have you seen it?
Do you need to be signed up? Is there a direct link to the prospectus?
shows that ACL also made a loss for the six months to Nov 14. The money they raise from the bond will repay the Council, and up to £10m to repay loans given by Richardson, some other loans £4m, and then fund ACL running costs and wasps running costs.
You must have that wrong RustyAfter all Richardson is a huge Wasps fan and definitely not interested in the money. And we've been told ACL is hugely profitable with massive increases in business so clearly they won't need money to cover losses by ACL and Wasps.
What seems odd is Wasps must know what SISU are like and the ongoing JR(s?). This seems like ideal fuel for SISU to drag everyone back into court again.
Where do I hand over my £2k?
Well if we went and borrowed more money than any other club in the country then we'd have the highest revenue in the UK as well, question is can they pay it back or do they even have any intention of paying it back?
Do they actually have any chance of hitting there £35 million target? Is this bond idea actually an attractive prospect to serious investors? (forget fans for the moment)
What really struck me was the fear of SISU doing something like this was exactly why people were against CCC selling to them. Sure now it's Wasps doing this we will see it is fine and nothing to worry about.
Where is in the know when you need him?
No signing up, yep fairly direct link, just one more click.
http://www.wasps.co.uk/the-club/bonds/secured-bonds
then click prospectus towards the bottom.
To me that would say the bricks and mortar of the place which the hypocritical council obviously didn't sell to them.The Bonds will be secured over Wasps Holdings and Arena Coventry Limited, including the Ricoh Arena.
You must have that wrong RustyAfter all Richardson is a huge Wasps fan and definitely not interested in the money. And we've been told ACL is hugely profitable with massive increases in business so clearly they won't need money to cover losses by ACL and Wasps.
What seems odd is Wasps must know what SISU are like and the ongoing JR(s?). This seems like ideal fuel for SISU to drag everyone back into court again.
Surely they wouldn't get away with blatantly trying to deceive?
If you were a potential investor alarm bells would ring straight away. They say they will pay back the bond in 5 years but need the cash to cover the running of ACL and Wasps for the next few years. Unless I'm missing something obvious (which is quite possible!) doesn't that require them to average £5m profit a year for the next 5 years just to pay back the bonds?
Maybe Michael mcindoe is there financial adviser ...does it not imply that they will use 10 million to fund the reserve pot to service the 6% interest they promise ..sounds like a really low paying Ponzi scheme
Oooooo. Another smoking gun. I'm salivating.
Isn't that like me buying a house for 50k and trying to re mortgage for 500k?Didn't say it was a smoking gun did I? We know SISU like to drag everyone into court, we know councils and charities are required to get best value. Wasps paid less than £6m a few months later they're saying its been valued at £48m, seems to be a bit of a discrepancy there.
Isn't that like me buying a house for 50k and trying to re mortgage for 500k?
The house seller openly admitted when the last person interested wanted to buy in their offer was way over value. So nowhere near the value I'm mortgaging at.Seems that way, so either you've got the house very very cheap or you're lying to the bank about how much it is worth when you're applying for your mortgage.
Didn't say it was a smoking gun did I? We know SISU like to drag everyone into court, we know councils and charities are required to get best value. Wasps paid less than £6m a few months later they're saying its been valued at £48m, seems to be a bit of a discrepancy there.
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