Insight into Richardson

Discussion in 'Wasps' started by dongonzalos, Jan 23, 2015.

  1. dongonzalos

    dongonzalos Well-Known Member

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    Nick its up to you. You may feel fit to move it. However repeatedly on here the subject of wasps,hypocrisy etc... comes up.

    This article is a bit about Richardson it guests me as it should be about our owner in the same manner. Although I question some if the logic in some if the comments or "tradition"

    Chief executive Nick Eastwood says Derek Richardson's decision can now help restore the two-time Heineken Cup winners to the top of the game
    Owner Derek Richardson’s “vision and courage” to move Wasps to Coventry can spur the club back to “the forefront of European rugby”, according to.

    Irish businessman Richardson has been a private figure since his April 2013 takeover saved Wasps from bankruptcy, preferring to dodge the limelight despite his rescue act.

    Richardson founded Ireland’s first online insurance broker, 123.ie, and was reported to have received almost £30million in the 2010 sale to Royal Sun Alliance.

    The Dublin native has helped revive Wasps’ fortunes, with the club hosting Leinster at their new Ricoh Arena home in today’s pivotal Champions Cup clash.


    Chief executive Eastwood believes Richardson’s stewardship can now help restore the two-time Heineken Cup winners to their “rightful place” at the pinnacle of European rugby.

    “He’s a very modest, private individual, very engaging and personable in person but doesn’t want to attract a huge amount of attention,” said Eastwood.


    Nick Eastwood (CEO, Wasps)

    “Clearly he had a real vision for the club, wanted to return the club to its rightful place in the forefront of domestic and European rugby.

    “He’s very much had the view that rugby’s a fairly traditional sport, but where we were as a club we needed to break the mould somewhat.

    “If you keep doing the same things you keep getting the same results, and obviously the club was in significant financial issues, so to change that around we had to do something pretty radical.

    “We didn’t move to Coventry because of that, but once we’d evaluated all the options this became head and shoulders above all else as the best possible option for the club. And Derek had the vision and the courage to make the best decision on behalf of the club.”


    VIEW GALLERY
    Wasps launched their move to Coventry from London in December with a record Premiership crowd for their clash with London Irish.

    A crowd nearing 25,000 is expected to flock to the stadium for Leinster’s visit, with Champions Cup quarter-final qualification on the line.

    And Wasps are closing in on securing a site for a new Coventry training ground the club hopes to have operational by 2016.

    Eastwood believes London-based Richardson has always viewed Wasps as much an engaging business challenge as a labour of love.

    While Wasps’ committed figurehead may have a Dublin background, Eastwood said there will be no split loyalties this weekend.

    “It’s hearts as much as minds, it’s obviously a huge emotional love of rugby, and the Wasps club,” said Eastwood.

    “And there’s a challenge there, a business challenge, too, in doing something difficult.

    “The nature of men of this ilk, extraordinary people in their own right, they see opportunity where everyone else sees problems. They see challenges as obstacles to be knocked over and not get in the way – and they find something they can’t resist.

    “I keep joking he’s going to have a double-sided tie with black and gold stripes on one side and blue on the other and he’ll flip it over depending on the result.

    “He’s through and through Wasps now. Put it another way, we were all cheering on Castres last weekend – native allegiances have been overtaken by club loyalty, so there won’t be any mixed feelings.”


    VIEW GALLERY
    Rugby director Dai Young famously had to dig into his own pocket for medical supplies at the peak of Wasps’ financial woes, as staff feared for their next paycheques.

    Eastwood vowed the former Wales prop can now finally focus solely on rugby matters.

    “We’re probably not even at the end of the beginning; I suppose that will be the end of the season,” said Eastwood.“And that’s probably when the hard work really starts.

    “Dai’s been an immensely important part of the club for the last two or three years, he’s stuck through it when times were difficult.

    “And now he can probably concentrate pretty much exclusively on the rugby and get us to where we all want to be which is back competing for silverware.”
     
  2. SkyBlue_Bear83

    SkyBlue_Bear83 Well-Known Member

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    Agreed, I would like to take this opportunity to applaud SISU for their vision and courage in moving us to Northampton...
     
  3. Astute

    Astute Well-Known Member

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    Wrong Richardson for me. Was all ready for a good rant then :(
     
  4. dongonzalos

    dongonzalos Well-Known Member

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    Sorry astute thought that just after I posted
     
  5. dongonzalos

    dongonzalos Well-Known Member

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    On the other Richardson. Do u know he woke up GS in his sleep (phone) and said. Name the next player you would sign who would take CCFC to the next level . GS said RK but what's the point we can't afford him...........
     
  6. Grendel

    Grendel Well-Known Member

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    I wonder what would happen to wasps if the Maltese consortium decided not to fund anymore and call the debt in.
     
  7. dongonzalos

    dongonzalos Well-Known Member

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    Is it them or is it Richardson I have heard Wasps saying it us Richardson.
    Then on here Maltese hedge fund. Did you see Dunn tonight?
     
  8. Grendel

    Grendel Well-Known Member

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    The company owns it and Richardson is the major shareholder.

    Dunn? Every dog has his day. Allsop is a better keeper as we will soon find out.
     
  9. dongonzalos

    dongonzalos Well-Known Member

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    FairPlay to the lad he deserves his moment. Hopefully we will now see his true potential flourish
     
  10. dongonzalos

    dongonzalos Well-Known Member

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    How much share does he need to be the major shareholder?
     
  11. skybluetony176

    skybluetony176 Well-Known Member

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    Probably the same as would happen to us if our anonymous consortium hedged by SISU decided not to fund anymore and call in our considerably larger debt. Only we have no asset's meaning it's more likely to happen in our case.
     
  12. Grendel

    Grendel Well-Known Member

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    The neutral fan posted something didn't he - it's over 50% isn't it? I'm not interested enough to check.
     
  13. Grendel

    Grendel Well-Known Member

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    Our debt isn't larger is it?
     
  14. dongonzalos

    dongonzalos Well-Known Member

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    So when SISU own us. Joy owns SISU but the investment itself we have no idea who has actually invested in the ownership of CCFC. Joy is just investing other people's money . She told us roughly who those people are (type not names)
    Has Richardson invested 50% of his own money into wasps?
     
    Last edited: Jan 23, 2015
  15. Astute

    Astute Well-Known Member

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    So what is our debt this week then?
     
  16. Grendel

    Grendel Well-Known Member

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    What do you think wasps debt is?
     
  17. Astute

    Astute Well-Known Member

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    What do you think our debt is?

    Yes I am more interested in CCFC than Wasps. And our debt is said to be between 30m and 70m. And we are fookin homeless.
     
  18. Grendel

    Grendel Well-Known Member

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    The debt that sisu would want recovery on is surely only that lent from the AVRO fund?
     
  19. skybluetony176

    skybluetony176 Well-Known Member

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    The debt is surely the amount that is being charged interest on. I would suggest that ARVO will just be at the front of the queue.
     
  20. dongonzalos

    dongonzalos Well-Known Member

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    ARVO just take prority.
    Anyone know my answer re Richatdson
     
  21. martcov

    martcov Well-Known Member

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    And Wasps are closing in on securing a site for a new Coventry training ground the club hopes to have operational by 2016.

    Err.........securing sites and getting operational takes a long time. Planning permission etc etc. How can anyone come to Cov, find a site and get it running in one year? Ask RFC, or TF these things take time.
     
  22. SkyBlue_Bear83

    SkyBlue_Bear83 Well-Known Member

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    They haven't got a local council actively working against them.
     
  23. Grendel

    Grendel Well-Known Member

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    Is this the same wasps that categorically assured supporters they would find a site in the south east and would never move?

    Oh well must be happening then
     
  24. Grendel

    Grendel Well-Known Member

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    I believe it's £13 million in debt before any more debt piled on for this deal.

    Is that your answer?
     
  25. dongonzalos

    dongonzalos Well-Known Member

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    No the other question I asked you directly. When you didn't answer. I assumed you did not know (when you posted in this thread) ignoring the question. So I put it out to everyone?
     
    Last edited: Jan 24, 2015
  26. Intheknow

    Intheknow New Member

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    There really is no consortium. Really.
     
  27. chiefdave

    chiefdave Well-Known Member

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    Wasps PR man has said really twice so it must be true. Was only missing FACT at the end.
     
  28. Rusty Trombone

    Rusty Trombone Well-Known Member

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    Excellent, finally someone with some new information. Please list those things that the Council have done to prevent the new stadium being built.
     
  29. Sky Blue Pete

    Sky Blue Pete Well-Known Member

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    Come on simon ask the relevant questions and give at least equal coverage to coventry rfc
     
  30. skybluetony176

    skybluetony176 Well-Known Member

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    I keep hearing that this deal was a snip so you need to pile a snip onto the existing debt. Now if only they had an asset to offset this debt against :thinking about:. The poor b'stards, I bet they'd give anything to be in our shoes.
     
    Last edited: Jan 24, 2015
  31. dongonzalos

    dongonzalos Well-Known Member

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    Maybe you know Dave?

    'So asking the question again to anyone.....
    Has Richardson actually invested his own money into the wasps set up. As oppose to I believe SISU where they are just investing other people money into CCFC?'
     
  32. chiefdave

    chiefdave Well-Known Member

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    I would guess he has invested some of his only money. Also very likely that now there are other investors involved as they were looking for investors to fund a move / new stadium.
     
  33. dongonzalos

    dongonzalos Well-Known Member

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    So its not really like a hedge fund at all then.
     
  34. chiefdave

    chiefdave Well-Known Member

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    Would depend on who the additional investors are and what vehicle they are using to provide funding.
     
  35. Intheknow

    Intheknow New Member

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    Also very likely you are wrong. Again.
     

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