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Wasps current finances & hope (1 Viewer)

  • Thread starter oldskyblue58
  • Start date Nov 19, 2017
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Nick

Administrator
  • Apr 26, 2018
  • #421
"Exclusive sit down with Wasps - They commit to not getting rid of Sausage Rolls at half time, even though their advisors say they don't make enough money. They know the people of Coventry love Sausage Rolls so want to make them happy"
 
Reactions: Moff, ccfchoi87 and chiefdave

Liquid Gold

Well-Known Member
  • Apr 26, 2018
  • #422
Fantastic news.
 
Reactions: Moff, I_Saw_Shaw_Score, Terry Gibson's perm and 1 other person

Grendel

Well-Known Member
  • Apr 26, 2018
  • #423
Some worried comments on drunken drivel
 
Reactions: Moff, I_Saw_Shaw_Score, Ian1779 and 2 others

Terry Gibson's perm

Well-Known Member
  • Apr 26, 2018
  • #424
oldfiver said:
Wasps mutiny! England stars Elliot Daly and Joe Launchbury set to leave over 'broken promises' on training facilities and contracts
  • Wasps resume their Premiership title challenge against Northampton on Sunday
  • But Coventry-based side face growing threat of an exodus of their leading stars
  • Players unhappy as they were promised state-of-the-art training facilities in 2014
By Chris Foy for the Daily Mail

View comments

Wasps face the growing threat of an exodus of their leading stars, with a mutinous mood in the squad over ‘broken promises’ relating to late payments and new facilities.

Coventry-based Wasps resume their Premiership title challenge on Sunday when they meet Northampton at the Ricoh Arena but there is serious unrest behind the scenes.

Patience is thin, caused by a lack of anticipated investment against a backdrop of financial turmoil. This jars with the perception that the club are enjoying a new era of prosperity.


+4
Wasps face the growing threat of an exodus of their leading stars like Elliot Daly

Sportsmail has learned that marquee players such as Elliot Daly, Joe Launchbury and Christian Wade are expected to leave when their contracts expire unless Wasps address their grievances. Sources have indicated that the discontent and resentment have become so heightened that some fear there will be a flashpoint before most of those deals run out.

The primary gripes among players and coaching staff relate to inadequate training facilities and the backlog in image-rights payments, which are thought to account for about 15 per cent of overall salaries.


Share this article
Share
200 shares

Wasps moved to Coventry at the end of 2014, and owner Derek Richardson pledged that they would have to use a temporary training base for only six months, before a new, state-of-the-art HQ was ready.

Three years on, two sites which were identified have been ditched and a new location is being sought. The message from the hierarchy is that it will be at least another two years before they no longer have to act as reluctant squatters in the basic surroundings at Broadstreet RFC.


+4
Players were promised state of the art training facilities when they moved to Coventry in 2014


There, the supposedly wealthy club have portable cabins serving as offices in the car park. They share changing rooms with Broadstreet teams and use the clubhouse for lunch — ‘It’s like eating in a pub every day we are training,’ said one player.

Outside, Wasps have only one pitch and players have voiced concerns that the tired surface is contributing to a run of injuries.

Misgivings have also been expressed about the state of the pitch at the Ricoh Arena but nothing had been done about it. Instead, urgent work had to be carried out when cracks were found in the walls of the stadium last month.

Sportsmail has been told that image-rights payments were not made to Wasps players for two years. That problem was addressed earlier this season but now it is understood payments are six months in arrears again.


+4
Players could leave when their contracts expire unless Wasps address their grievances

There is a widespread feeling that all areas of expenditure are under pressure and that the academy is being denied vital investment in favour of ‘window dressing’.

Another grievance within the squad was the handling of Sam Jones’s premature retirement. The flanker, who suffered career-ending injuries performing judo drills training with England in 2016, was upset that his wages were halted immediately he announced he had to stop playing.

Team-mates were angry but the board argued that he had been paid in full for 17 months while rehabilitating, when a contract only requires wages to remain at normal levels for six months of inactivity. Still, the saga served to further strain morale — not helped by poor communication between the powers-that-be and the players.

Unrest behind the scenes comes at a time of financial turbulence. Wasps launched a bond scheme in 2015, which yielded £35million, but they owe £2m in interest each year and must settle the debt in full in four years’ time.


+4
Players have voiced concerns that the tired surface is contributing to a run of injuries

Doubts have been expressed by independent experts about their ability to do so, with claims that the club will need to refinance.

At the end of last year, Wasps were forced to seek permission from bond holders to break the terms of the deal after Richardson made a personal payment to make up for a shortfall in the scheme.

Last month, it was reported that Wasps’ financial statements were three months overdue and that Companies House were taking enforcement action against what amounts to a criminal offence.

While the public see a club riding high, with a viable home of their own at last, a title-chasing team and box-office appeal, the reality is that all is not well. It has been suggested that Wasps are at a crossroads and that without the right investment, the feared exodus will happen.


Read more: England stars Daly and Launchbury set to leave Wasps over 'broken promises' | Daily Mail Online
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Click to expand...


I wonder when this story will appear in the local rag
 
Reactions: stupot07

Nick

Administrator
  • Apr 26, 2018
  • #425
Has anybody seen what James Haskell has been saying? Apparently has been slating Wasps on social media.

On another note, I read that he goes magnet fishing in canals. Pretty random but kind of interesting.
 
Reactions: ccfchoi87
W

wingy

Well-Known Member
  • Apr 26, 2018
  • #426
Tits Up .
Who's been talking?
The Ex FD.
Nick Eastwoods covering around three roles now.
 

stupot07

Well-Known Member
  • Apr 26, 2018
  • #427
Great news! Its clear to anyone that all is not well at wasps hq.

Theres been plenty of broken promises, but I can't remember us ever failing to pay wages. Wasps are as much a bunch of chancers as sisu.

Sent from my SM-G930F using Tapatalk
 
Reactions: Captain Dart, Moff, duffer and 4 others

Nick

Administrator
  • Apr 26, 2018
  • #428
Grendel said:
Some worried comments on drunken drivel
Click to expand...

Apparently it's SISU's fault all of the accounts are late and the training ground didn't happen.
 
Reactions: duffer and ccfchoi87

jimmyhillsfanclub

Well-Known Member
  • Apr 26, 2018
  • #429
Ha ha ha ha ha......Sweet as......

heres hoping they fail in a big enough way to ensure all the greedy bond holders lose their cash too.....
 
Reactions: Moff, pastythegreat, fernandopartridge and 1 other person

fernandopartridge

Well-Known Member
  • Apr 26, 2018
  • #430
Terry Gibson's perm said:
I wonder when this story will appear in the local rag
Click to expand...
It'll appear as a counter story. Nothing to worry about as Wasps wanted rid of Daly etc anyway
 
Reactions: Moff, duffer and Terry Gibson's perm

Esoterica

Well-Known Member
  • Apr 26, 2018
  • #431
Plot Twist: Dale Evans to get introduced as a potential new Wasps investor after his numerous CCFC takeover attempts have been thwarted.
 
Reactions: Captain Dart, Moff, duffer and 3 others

SkyblueBri

Well-Known Member
  • Apr 26, 2018
  • #432
If the story on the Wasps side of this forum is true. If it is we can expect SiSU to carry on as long as possible with appeal after appeal with the objective putting them under more financial pressure. Then pounce it’s what they do to firms in trouble!
 
Reactions: eastwoodsdustman and Skyblueweeman

Terry Gibson's perm

Well-Known Member
  • Apr 26, 2018
  • #433
Esoterica said:
Plot Twist: Dale Evans to get introduced as a potential new Wasps investor after his numerous CCFC takeover attempts have been thwarted.
Click to expand...


Why would they need investors I thought they are the richest rugby team in the universe
 

fernandopartridge

Well-Known Member
  • Apr 26, 2018
  • #434
Apparently Haskell has been scathing on instagram about the non appearance of the £7m state of the art training facility. Not that I have any sympathy with that wanker.
 
Reactions: eastwoodsdustman

pastythegreat

Well-Known Member
  • Apr 26, 2018
  • #435
Nick said:
Has anybody seen what James Haskell has been saying? Apparently has been slating Wasps on social media.

On another note, I read that he goes magnet fishing in canals. Pretty random but kind of interesting.
Click to expand...
I magnet fish, pull up mostly shit. Hardly anything of interest but keeps the kids busy for a day or 2 during the holidays.
 

fernandopartridge

Well-Known Member
  • Apr 26, 2018
  • #436
Bloody hell, somebody on DrunkenWasps is blaming SISU for the release of the story....it did cross my mind but it appears the ridiculous conspiracy theories are not limited to this board.
 
Reactions: Moff, duffer, ccfchoi87 and 2 others

stupot07

Well-Known Member
  • Apr 26, 2018
  • #437
fernandopartridge said:
Bloody hell, somebody on DrunkenWasps is blaming SISU for the release of the story....it did cross my mind but it appears the ridiculous conspiracy theories are not limited to this board.
Click to expand...
Lol, Gaz who used to post on here as a 'cov fan'. No way this has come from sisu. Lol

Sent from my SM-G930F using Tapatalk
 

italiahorse

Well-Known Member
  • Apr 26, 2018
  • #438
Grendel said:
Italia is being briefed as we speak
Click to expand...
Already briefed on this 6 months ago.
The only frothing at the mouth is on here and London papers.
Can’t say more than that.
 

skybluetony176

Well-Known Member
  • Apr 26, 2018
  • #439
oldfiver said:
Wasps mutiny! England stars Elliot Daly and Joe Launchbury set to leave over 'broken promises' on training facilities and contracts
  • Wasps resume their Premiership title challenge against Northampton on Sunday
  • But Coventry-based side face growing threat of an exodus of their leading stars
  • Players unhappy as they were promised state-of-the-art training facilities in 2014
By Chris Foy for the Daily Mail

View comments

Wasps face the growing threat of an exodus of their leading stars, with a mutinous mood in the squad over ‘broken promises’ relating to late payments and new facilities.

Coventry-based Wasps resume their Premiership title challenge on Sunday when they meet Northampton at the Ricoh Arena but there is serious unrest behind the scenes.

Patience is thin, caused by a lack of anticipated investment against a backdrop of financial turmoil. This jars with the perception that the club are enjoying a new era of prosperity.


+4
Wasps face the growing threat of an exodus of their leading stars like Elliot Daly

Sportsmail has learned that marquee players such as Elliot Daly, Joe Launchbury and Christian Wade are expected to leave when their contracts expire unless Wasps address their grievances. Sources have indicated that the discontent and resentment have become so heightened that some fear there will be a flashpoint before most of those deals run out.

The primary gripes among players and coaching staff relate to inadequate training facilities and the backlog in image-rights payments, which are thought to account for about 15 per cent of overall salaries.


Share this article
Share
200 shares

Wasps moved to Coventry at the end of 2014, and owner Derek Richardson pledged that they would have to use a temporary training base for only six months, before a new, state-of-the-art HQ was ready.

Three years on, two sites which were identified have been ditched and a new location is being sought. The message from the hierarchy is that it will be at least another two years before they no longer have to act as reluctant squatters in the basic surroundings at Broadstreet RFC.


+4
Players were promised state of the art training facilities when they moved to Coventry in 2014


There, the supposedly wealthy club have portable cabins serving as offices in the car park. They share changing rooms with Broadstreet teams and use the clubhouse for lunch — ‘It’s like eating in a pub every day we are training,’ said one player.

Outside, Wasps have only one pitch and players have voiced concerns that the tired surface is contributing to a run of injuries.

Misgivings have also been expressed about the state of the pitch at the Ricoh Arena but nothing had been done about it. Instead, urgent work had to be carried out when cracks were found in the walls of the stadium last month.

Sportsmail has been told that image-rights payments were not made to Wasps players for two years. That problem was addressed earlier this season but now it is understood payments are six months in arrears again.


+4
Players could leave when their contracts expire unless Wasps address their grievances

There is a widespread feeling that all areas of expenditure are under pressure and that the academy is being denied vital investment in favour of ‘window dressing’.

Another grievance within the squad was the handling of Sam Jones’s premature retirement. The flanker, who suffered career-ending injuries performing judo drills training with England in 2016, was upset that his wages were halted immediately he announced he had to stop playing.

Team-mates were angry but the board argued that he had been paid in full for 17 months while rehabilitating, when a contract only requires wages to remain at normal levels for six months of inactivity. Still, the saga served to further strain morale — not helped by poor communication between the powers-that-be and the players.

Unrest behind the scenes comes at a time of financial turbulence. Wasps launched a bond scheme in 2015, which yielded £35million, but they owe £2m in interest each year and must settle the debt in full in four years’ time.


+4
Players have voiced concerns that the tired surface is contributing to a run of injuries

Doubts have been expressed by independent experts about their ability to do so, with claims that the club will need to refinance.

At the end of last year, Wasps were forced to seek permission from bond holders to break the terms of the deal after Richardson made a personal payment to make up for a shortfall in the scheme.

Last month, it was reported that Wasps’ financial statements were three months overdue and that Companies House were taking enforcement action against what amounts to a criminal offence.

While the public see a club riding high, with a viable home of their own at last, a title-chasing team and box-office appeal, the reality is that all is not well. It has been suggested that Wasps are at a crossroads and that without the right investment, the feared exodus will happen.


Read more: England stars Daly and Launchbury set to leave Wasps over 'broken promises' | Daily Mail Online
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Click to expand...

Never mind. Just need people to start boycotting them now and going to watch CRFC or us instead and hopefully that will push them over the edge.
 
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O

oldfiver

Well-Known Member
  • Apr 26, 2018
  • #440
italiahorse said:
Already briefed on this 6 months ago.
The only frothing at the mouth is on here and London papers.
Can’t say more than that.
Click to expand...


Have you also been briefed why WASPS Finance accounts are 4 months late ?
 
Reactions: Moff, duffer, Terry Gibson's perm and 2 others

jimmyhillsfanclub

Well-Known Member
  • Apr 26, 2018
  • #441
skybluetony176 said:
Never mind. Just need people to start boycotting them now and going to watch CRFC or us instead and hopefully that will push them over the edge.
Click to expand...

The jonny-cum-latelys will all drift away soon enough......now the penny has dropped that wasps are not going to be the new dominant world beaters that the glossy sales brochure promised.....

...fuck all....you're gonna win fuck all.
 
Reactions: Moff, ccfchoi87, Greggs and 2 others

Esoterica

Well-Known Member
  • Apr 26, 2018
  • #442
italiahorse said:
Already briefed on this 6 months ago.
The only frothing at the mouth is on here and London papers.
Can’t say more than that.
Click to expand...
Textbook!
a) Bat it away as old news.
b) Make out that no-one else is really bothered anyway.
c) Hint that there's more that could be said but hands are tied.
 
Reactions: Moff, covmark, duffer and 6 others

fernandopartridge

Well-Known Member
  • Apr 26, 2018
  • #443
Esoterica said:
Textbook!
a) Bat it away as old news.
b) Make out that no-one else is really bothered anyway.
c) Hint that there's more that could be said but hands are tied.
Click to expand...

 
Reactions: eastwoodsdustman, Rusty Trombone, Moff and 13 others

Nick

Administrator
  • Apr 26, 2018
  • #444
italiahorse said:
Already briefed on this 6 months ago.
The only frothing at the mouth is on here and London papers.
Can’t say more than that.
Click to expand...

 
Reactions: Moff, duffer, stupot07 and 2 others

Nick

Administrator
  • Apr 26, 2018
  • #445
2 Could the DM article have been encouraged (even written) by SISU (do they have any influence there - they seem to be a shady bunch), or a disgruntled CCFC supporter?
Click to expand...

Yep, an annoyed ccfc fan has gone undercover as a rugby reporter for years just for this moment.
 
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Liquid Gold

Well-Known Member
  • Apr 26, 2018
  • #446
on Drunken Wasps

"This will be a controversial view but I'm afraid none of this surprises me. The move to Coventry was so, so wrong on so many levels and was always going to lead to this. It was financially unsustainable and you can't just rip a club out of its heartland, start somewhere new with no roots, no academy, no local links, no training facilities, a huge stadium to look after on your own and not enough cash. Time for the current owners or someone else to do the right thing and move the club back to London, sharing with either Brentford or AFC Wimbledon in their new stadiums."
 
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chiefdave

Well-Known Member
  • Apr 26, 2018
  • #447
As bad as things have ever got for city have we every not paid players for 2 years. Unbelievable even for the CT that this sort of thing has been going on for so long with them claiming everything is fantastic.

Negative post about Wasps and Italia turns up to make his first post for a couple of weeks. Its like clockwork. The alarm must have sounded at Italia towers.
wingy said:
Nick Eastwoods covering around three roles now.
Click to expand...
Pointed this out a while back. Senior people are 'leaving' and not being replaced. It was glossed over as Fisher-esque 'normal business practice'.

​
Nick said:
Has anybody seen what James Haskell has been saying? Apparently has been slating Wasps on social media.
Click to expand...
Makes a change from having a go at our fans outside the Ricoh.
jimmyhillsfanclub said:
now the penny has dropped that wasps are not going to be the new dominant world beaters that the glossy sales brochure promised
Click to expand...
Not to mention if you're in the 'just want to watch rugby' brigade CRFC are on the up and I bet the beer is cheaper.​
​
 
Reactions: Moff, Terry Gibson's perm, stupot07 and 3 others

chiefdave

Well-Known Member
  • Apr 26, 2018
  • #448
Liquid Gold said:
The move to Coventry was so, so wrong on so many levels and was always going to lead to this.
Click to expand...
As much as it was presented as a bright future for Wasps its never stacked up for me how you take a loss making stadco, a loss making rugby club, put them together, add in the need for millions in new facilities and a massive new debt load and claim its plain sailing moving forward.

Would be funny if they ended up having to groundshare in London. Maybe that new stadium right by where they were located for decades that's looking for a rugby club as a tenant, the one they claimed was impossible for them to move to as rugby was prohibited there.

The only downside would be Fisher being right, can you imagine how smug he'll look then.
 
Reactions: duffer

Nick

Administrator
  • Apr 26, 2018
  • #449
chiefdave said:
As much as it was presented as a bright future for Wasps its never stacked up for me how you take a loss making stadco, a loss making rugby club, put them together, add in the need for millions in new facilities and a massive new debt load and claim its plain sailing moving forward.

Would be funny if they ended up having to groundshare in London. Maybe that new stadium right by where they were located for decades that's looking for a rugby club as a tenant, the one they claimed was impossible for them to move to as rugby was prohibited there.

The only downside would be Fisher being right, can you imagine how smug he'll look then.
Click to expand...

Even better, he could phone up Appleton and they could both be smug.



 
Reactions: Moff and duffer

Nick

Administrator
  • Apr 26, 2018
  • #450
Predictable stuff from the Telegraph

We understand the accounts will be submitted in the next few days and, while containing far from ideal figures, their content is not as damning as is being speculated.
Click to expand...

Interesting that the Telegraph have seen the accounts.
 
Reactions: duffer
S

Suffolk sky blues

Well-Known Member
  • Apr 26, 2018
  • #451
Sisu never wanted the stadium & it' a white elephant. Get well soon.
 

Nick

Administrator
  • Apr 26, 2018
  • #452
Suffolk sky blues said:
Sisu never wanted the stadium & it' a white elephant. Get well soon.
Click to expand...

Is the bot getting mixed up?
 

jordan210

Well-Known Member
  • Apr 26, 2018
  • #453
Nick said:
Predictable stuff from the Telegraph



Interesting that the Telegraph have seen the accounts.
Click to expand...

 
Reactions: covcity4life, Moff, stupot07 and 1 other person

Ian1779

Well-Known Member
  • Apr 26, 2018
  • #454
stupot07 said:
Great news! Its clear to anyone that all is not well at wasps hq.

Theres been plenty of broken promises, but I can't remember us ever failing to pay wages. Wasps are as much a bunch of chancers as sisu.

Sent from my SM-G930F using Tapatalk
Click to expand...

Just with a better PR department.
 
Reactions: Moff, duffer, Skyblueweeman and 2 others

pastythegreat

Well-Known Member
  • Apr 26, 2018
  • #455
Ian1779 said:
Just with a better PR department.
Click to expand...
Dave Boddy is doing a decent Job since his arrival.

Sent from my SM-G955F using Tapatalk
 
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