Why is it ridiculous for people to hate the team that shoe horned themselves into the stadium that was built for our football club?
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Yes. But then we get into the argument of who are the biggest shitcunts. Which has been done a million times.It’s not ridiculous, however I do it find it a bit odd when some seem to have more anger towards Wasps for taking advantage, than they do towards those who created the opportunity for Wasps in the first place.
Just my opinion. I know some will assume I mean the Council but I am mainly referring to our owners.
I don't see as much anger towards Wasps as.I do SISU. What I do see is many hope that their move to Coventry fails. And if you look at the finances it wouldn't be a shock.It’s not ridiculous, however I do it find it a bit odd when some seem to have more anger towards Wasps for taking advantage, than they do towards those who created the opportunity for Wasps in the first place.
Just my opinion. I know some will assume I mean the Council but I am mainly referring to our owners.
I read it as the figures were up to December 2016.
It says they are allowed to refinance in 2019 and it looks like they are suggesting they will.
I have no idea how it has gone since they were in profit of 1.5 million 11 months ago.
I don’t take really any interest in them or their finances, I assume by your response you no longer think they are making a profit?
I read it as the figures were up to December 2016.
It says they are allowed to refinance in 2019 and it looks like they are suggesting they will.
I have no idea how it has gone since they were in profit of 1.5 million 11 months ago.
I don’t take really any interest in them or their finances, I assume by your response you no longer think they are making a profit?
So Coventry City FC is a white elephant. No real assets and the previous and current owners have ran it at a loss?
All football clubs run at a loss. The losses are funded by its owners.
Every Premier League team ranked by profit or loss: Shock results for Arsenal and Chelsea
12 out of 20 prem clubs earned a profit last year
They went down the bond route as they would never be lent that sum by a bankSee, from this I cannot quite get my head around why they took the option of a bond issue at 6.5% interest as the best method of raising capital. Could they be looking at higher interest if they look to refinance via a bank? If so, that poses a very clear picture of the anticipated risk involved and with all seemingly not going completely to plan, I sense they could end up chasing their debt round in circles whilst never being able to repay.
They went down the bond route as they would never be lent that sum by a bank
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They screwed up on the interest they pay, the bond was over subscribed so I believe they could have got away with a 5% rate.They went down the bond route as they would never be lent that sum by a bank
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Secured BondsSee, from this I cannot quite get my head around why they took the option of a bond issue at 6.5% interest as the best method of raising capital. Could they be looking at higher interest if they look to refinance via a bank? If so, that poses a very clear picture of the anticipated risk involved and with all seemingly not going completely to plan, I sense they could end up chasing their debt round in circles whilst never being able to repay.
Secured Bonds
Don't click on any links. Just scroll down to the part that says 'key risks' That should explain it for you.
It looked dodgy from the start. Richardson taking an extra 10m in bonds so he could have the money himself and also a few million extra to make the first few interest payments said a lot. About half of the money raised by the bond issue was nothing to do with the cost of taking the arena over. If it was just for that it would have been more affordable.That is essentially what I'm getting at. A decision like that does not exude confidence in the business' decision.
He laughed when I said Wasps were in the frame to buy it.
I read it as the figures were up to December 2016.
It says they are allowed to refinance in 2019 and it looks like they are suggesting they will.
I have no idea how it has gone since they were in profit of 1.5 million 11 months ago.
I don’t take really any interest in them or their finances, I assume by your response you no longer think they are making a profit?
Why is it ridiculous for people to hate the team that shoe horned themselves into the stadium that was built for our football club?
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Its simple for me. Everything SISU did, as bad as they have been, could be undone with new owners up until the point Wasps turned up.It’s not ridiculous, however I do it find it a bit odd when some seem to have more anger towards Wasps for taking advantage, than they do towards those who created the opportunity for Wasps in the first place.
So, does the academy deal run out at the end of the season?
Will be interesting to see the length of any deal if we go back there, considering we are supposed to be building our own and AHC will probably want as long as possible.
Of course with so little info coming out the club we could (and do) read into Fishers beard for all the good it’ll do us.
He’s not wrong though is he? Some of the hate is verging on the ridiculous. Live and let live FFS.
Its simple for me. Everything SISU did, as bad as they have been, could be undone with new owners up until the point Wasps turned up.
The sale of ACL to Wasps massively decreased the chance of us getting new owners anytime soon and massively decreased the chance of us being a sustainable club in the long term unless someone will basically gift the club a ground.
You take no interest in their finances but try and claim they are in profit when they are not
Right
Take no interest in their finances googled Wasps finances as I don’t know a lot about it and read this thread where people on here are saying they are fucked so wanted to see what the score is.
The above article was the most recent thing to come up.
Where several experts reviewed their accounts which said they turned a 1.5 million profit in December 2016 (11 months ago) apparently this is very good in the circumstances.
It also says Wasps intend to refinance when they are allowed to in 2019.
Posted the article
You say the experts are wrong.
That’s pretty much it for me.
Your posting history in which you get most things wrong. Tells me to listen to the experts then see what the experts say next time Wasps release their accounts.
No disrespect but you were adamant we would move to Northampton. That no one would buy the Ricoh. That there is a smoking gun. That SISU wanted to lose the legal action.
That we should never have agreed a rental deal.
That Wasps were not affected in anyway by the legal action.
So I take most of what you with a pinch of salt these days.
You also have to factor in that they borrowed money to make the first few interest payments on the bonds so on top of turning round that loss they also need to find the money to make the interest payments.It was a loss
Yes. But then we get into the argument of who are the biggest shitcunts. Which has been done a million times.
I hate sisu. They're useless fuckers.
I hate wasps they're stadium stealing cretins.
I hate the council. They fucked our football club over for years. Then sold the ground that was built for our football club to the stadium stealing cretins.
Everyone are cunts except for every single one of our long suffering fans. The ones that followed us to Sixfields. The ones who boycotted because of Sixfields. The NOPM'ers. The ones that still go now to follow the dross that's served up. We've been royally fucked over and it stinks.
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Agree with all of that but SISU are still the ones who forced that situation.
If they had just bid when they were repeatedly asked to instead of continuing drive the price down. Even when they are warned bid by January or someone else will be coming in and that is your opportunity gone. They still continued to try and drive the price down further.
It’s kind of like someone punching someone to the floor intending to rob them of their wallet. As they go to grab the wallet the victim swings one last punch defending himself and they both begin to struggle.
In the struggle the wallet flies across the floor to the feet of a bloke who was walking past.
The victim shouts at that bloke take my wallet I would rather you have it than this idiot who attacked me.
The 3rd bloke sees his chance takes advantage of the situation and runs off with the wallet.
The 3rd bloke is still out of order.
However to hold him as the person to be the most hated as he took advantage over the bloke who tried to rob the victim in the first place.
I don’t teally get.
It’s quite clear SISU are the most to blame in this. Then the council for allowing it to escalate.
Then Wasps for shafting their own fans (Not us)
Yet on here for many Wasps take the most flack, followed by the council, then the Higgs charity, then the CET, fellow fans and then finally SISU.
The only person who doesn’t get shit is Cov Rugby club
It’s quite clear SISU are the most to blame in this. Then the council for allowing it to escalate.
Then Wasps for shafting their own fans (Not us)
Yet on here for many Wasps take the most flack, followed by the council, then the Higgs charity, then the CET, fellow fans and then finally SISU.
The only person who doesn’t get shit is Cov Rugby club
They haven’t bought it - they’ve piled debt against it - you know the thing a certain other hedge fund were going to apparently do.
Then it was a community asset that should be protected from such beastly activity.
What changed?
Wasps submitted their plans around development of the site SISU wouldn't.
Genuine question, how much of that has been achieved?Wasps submitted their plans around development of the site SISU wouldn't.
I think they spent some money on pitch improvements.And that has amounted to.........?
I think they spent some money on pitch improvements.
Wasps submitted their plans around development of the site SISU wouldn't.
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