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Shakeitup · Jun 27, 2015

CCFC said:
We will see, they have to generate 2.2 million each year for 7 years to pay the interest and then another 35 million in 7 years time. That's over 50 million they have to pay within 7 years.

Astute said:
The money taken was to cover the cost of taking over the Ricoh, the money he loaned Wasps and also nearly all the interest payments. If they are doing so well why lend money to cover repayments?

stupot07 said:
If it's such an amazing deal why didn't Richardson convert his £10m into bonds and make some easy interest, instead of paying himself back? And to be fair Sisu would be considered financial and business experts......

Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

Astute said:
Some people like to take a gamble. If it pays off they will get their money back plus 50% on top. In the bank they would be lucky to get 10%. If it is so good why didn't they get a low interest loan?

If it goes wrong they lose their money. Not bad eh?

I follow the first point. I agree, some people like a gamble and it is far more appealing than an ISA or bank investment.

Your other points are unclear. Do you mean why do individuals not take out a loan and invest this in the bond scheme?

Astute · Jun 27, 2015

Yes an astute business man. He now has control of Wasps and it hasn't cost him a penny. If they make money it is his. If it goes tits up he loses nothing. And the loan got him his money back where otherwise he wouldn't have got it.

I am not saying that they will fail. But it is a risky move for them and anyone who invested in them.

Shakeitup · Jun 27, 2015

CCFC said:
We will see, they have to generate 2.2 million each year for 7 years to pay the interest and then another 35 million in 7 years time. That's over 50 million they have to pay within 7 years.

Astute said:
The money taken was to cover the cost of taking over the Ricoh, the money he loaned Wasps and also nearly all the interest payments. If they are doing so well why lend money to cover repayments?

stupot07 said:
If it's such an amazing deal why didn't Richardson convert his £10m into bonds and make some easy interest, instead of paying himself back? And to be fair Sisu would be considered financial and business experts......

Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

Astute said:
Some people like to take a gamble. If it pays off they will get their money back plus 50% on top. In the bank they would be lucky to get 10%. If it is so good why didn't they get a low interest loan?

If it goes wrong they lose their money. Not bad eh?

Astute said:
Yes an astute business man. He now has control of Wasps and it hasn't cost him a penny. If they make money it is his. If it goes tits up he loses nothing. And the loan got him his money back where otherwise he wouldn't have got it.

I am not saying that they will fail. But it is a risky move for them and anyone who invested in them.

And a brilliant move by him!

Astute · Jun 28, 2015

Shakeitup said:
I follow the first point. I agree, some people like a gamble and it is far more appealing than an ISA or bank investment.

Your other points are unclear. Do you mean why do individuals not take out a loan and invest this in the bond scheme?

No. Why didn't Wasps take out a low interest loan? They had the same equity. It would have saved them millions.

Shakeitup · Jun 28, 2015

I'm pretty sure they wouldn't have been allowed to take out a loan to 'gamble' against themselves like this.

Astute · Jun 28, 2015

Shakeitup said:
And a brilliant move by him!

You are getting there.

A very good move for him. A good move for Wasps though?

Shakeitup · Jun 28, 2015

As I said. I believe so.

Astute, I'm sure you're lovely and not as confused in 'real life'. So I will stop replying to you so you can concentrate at work, I'm sure it's very demanding. Hence why your posts are so odd, littered with a smiley face or a hint of sarcasm in the hope to save you.

Astute · Jun 28, 2015

Shakeitup said:
As I said. I believe so.

Astute, I'm sure you're lovely and not as confused in 'real life'. So I will stop replying to you so you can concentrate at work, I'm sure it's very demanding. Hence why your posts are so odd, littered with a smiley face or a hint of sarcasm in the hope to save you.

No sarcasm meant.

He had a homeless rugger club that owed him 10m. He has got his money back.

Wasps are nearly 100 miles from their fanbase. Many will stop going. They will need to replace these. They need to keep a good side together. Otherwise they will lose and not gain supporters. This costs money.

So where are some of the interest payments and the 35m going to come from? They needed his money to keep going when they were closer to their supporters. This is why I call it a massive gamble.

Grendel · Jun 28, 2015

Astute said:
No sarcasm meant.

He had a homeless rugger club that owed him 10m. He has got his money back.

Wasps are nearly 100 miles from their fanbase. Many will stop going. They will need to replace these. They need to keep a good side together. Otherwise they will lose and not gain supporters. This costs money.

So where are some of the interest payments and the 35m going to come from? They needed his money to keep going when they were closer to their supporters. This is why I call it a massive gamble.

Richardson is still owed £10 million - the total loan was £20 million.

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