Judicial Review 3 incoming
Can't see the bond refinancing going to allow stadium to be used as security for another loanthe face of it, it looks well governed, very low risk, and turns a profit. I can't see them loaning just to keep Wasps afloat, and they don't loan without security.
andy street does like to be seen as a riding to the rescueYeah - it’s referred to as a publicly funded asset, it isn’t anymore. Besides they’ll get it, Boris and his chums are all over protecting rugby
And the argument would be Wasps' stadium company is not Wasps Rugbythat was to acl and not ccfc though who apart from a rental agreement were separate
yeah but the article implies it was ccfc that the council bailed outAnd the argument would be Wasps' stadium company is not Wasps Rugby
What never ceases to amaze me is the head in the sand attitude Wasps supporters have. They get constantly lied to and misled yet laud their owners and never believe there to be the slightest thing to be concerned about. Its a very odd attitude.
Their current situation is they are unable to pay a £35 million debt and are once again going cap in hand to the taxpayer. You would have to have at least the slightest concern that something was up yet looking at their forums you'd think this is how all business operates and anyone who suggests otherwise is a jealous CCFC fan. Its very strange.
What made you start posting just before this information became public knowledgewhy not go over there and engage with them instead of some who just post stupid comments …. Other than Grendel nobody posts anything remotely constructive.
Out of interest have you posted anything constructive that’s been shot down as jealousy ? …. Give us an example ?
Christ, it must be a low bar!Other than Grendel nobody posts anything remotely constructive.
What made you start posting just before this information became public knowledge
Don't think anybody's concerned around here, other than if they get paid the cash, anyway.I’m just as appalled / concerned as anyone else.
Christ, it must be a low bar!
Don't think anybody's concerned around here, other than if they get paid the cash, anyway.
So you're hoping they don't get the cash?That’s what I meant.
Well luckily the bar was set very low on here for your insect scum mates yet they all seem to manage to limbo under itYeah it is generally from SBT posters.
Could they request as part of stadium upkeep/repair? (Or something of the like??)Not sure the WMRA lends to private companies to pay historical debt. Don't know for sure. I would have thought such arrangements are for capital projects.
If the purpose is to finance bond debt and repay investors or trade creditors then they should turn it down. No ifs buts or maybes.
Wasps get to live with the consequences of that. Administration at best looming in that case. They got themselves in to this mess No sympathy for rank bad arrogant management and all the smoke & mirrors they have engaged in. It stinks
Am still puzzled how they can sign off the accounts for wasps holdings & wasps finance which effectively deal with the bond but can't file other members of the group who are guarantors to the bond. Can't help thinking I am missing something in the bond details and amendments
Sure I read somewhere that there is no Rugby related penalty for going into admin... would that therefore be desirable for them to do?... question - what would implications be OSB?I wonder if Appleton or someone of his ilk is going to rock up and miraculously wasps regain the lease and business via administration and get rid of millions in debt at some point
So you're hoping they don't get the cash?
No way they should get a penny of tax payers money. Completely different situation from last time, they’re 100% a private entity, have no history in the city so can’t be classed as a local asset. Fuck em, they made their bed.
Been there done that and it didn't get a very positive response! Back when this all began there was a lot of incorrect information about the Ricoh saga being posted on there, to be fair it was a very long and complicated situation that most of us on here who have been following closely struggle to keep track of. Tried posting some background to correct some of the common mistakes but was immediately shot down. Managed a couple of posts before being banned.why not go over there and engage with them instead of some who just post stupid comments …. Other than Grendel nobody posts anything remotely constructive.
Out of interest have you posted anything constructive that’s been shot down as jealousy ? …. Give us an example ?
I wonder if Appleton or someone of his ilk is going to rock up and miraculously wasps regain the lease and business via administration and get rid of millions in debt at some point
Sure I read somewhere that there is no Rugby related penalty for going into admin... would that therefore be desirable for them to do?... question - what would implications be OSB?
On here - not many seem worried!
If Wasps go bust doesn’t the lease on the Ricoh return to the council?I wonder if Appleton or someone of his ilk is going to rock up and miraculously wasps regain the lease and business via administration and get rid of millions in debt at some point
Wasn't there something in the bond prospectus where there could be other claims to the lease in the event it all went tits up.If Wasps go bust doesn’t the lease on the Ricoh return to the council?
We don't believe you, coincidence???pointless me saying its coincidence but it is !
look at it another way …. What would I gain by posting if I knew anything? I’m just as appalled / concerned as anyone else. I’m a 60+ Wasps supporter not some PR guru or spin doctor.
I said at the start when they were initially raising the bonds, that they had been greedy and bitten off more than they could chew with the £35m. They didn't need £35m, they only needed c£15m to pay odd the loan. Richardson paid himself £10m back then they spunked the other £10m for very little return.
They'd have been better off keeping the ACL loan, now they are having to borrow pretty much the same amount to keep them afloat.
The WMA would be ridiculous to give them the loan, you're giving someone £35m in debt to the bonds, plus their addition debts another £13m to add to the debt. If they were a football club they would be forced into administration, why do wasps think they are so special
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