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Wasps downward spiral... (1 Viewer)

  • Thread starter CCFC54321
  • Start date Oct 20, 2018
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oldfiver

Well-Known Member
  • Jul 3, 2022
  • #5,426
Grendel said:
Some key council members aren’t that enthused anymore - I believe Duggins is though - but Jon Mutton is the thinking mans Duggins - the councillors are so stupid how do any of these people get elected.

Jane Innis is a hoot
Click to expand...

The problem is Martin Reeves - too much power
 
B

Brighton Sky Blue

Well-Known Member
  • Jul 3, 2022
  • #5,427
oldfiver said:
No too much embarrassment

Unless the embarrassment can come first?
Click to expand...

Is it not out of their hands now anyway?
 

chiefdave

Well-Known Member
  • Jul 3, 2022
  • #5,428
Brighton Sky Blue said:
Is it not out of their hands now anyway?
Click to expand...
The WMCA grant application technically is but given Reeves was Chief Exec for the WMCA its not a huge leap to think he still has contacts and potentially influence there.

Wasn't there also a meeting of the council after the news of the grant broke where assisting Wasps was mentioned so just because Reeves pushed Wasps to WMCA doesn't necessarily mean that is the end of the councils involvement.
 
B

Brighton Sky Blue

Well-Known Member
  • Jul 3, 2022
  • #5,429
chiefdave said:
The WMCA grant application technically is but given Reeves was Chief Exec for the WMCA its not a huge leap to think he still has contacts and potentially influence there.

Wasn't there also a meeting of the council after the news of the grant broke where assisting Wasps was mentioned so just because Reeves pushed Wasps to WMCA doesn't necessarily mean that is the end of the councils involvement.
Click to expand...

Is Street the final decision maker?
 

Nick

Administrator
  • Jul 3, 2022
  • #5,430
Andy Street, you say?

 
Reactions: Sick Boy, AOM and Sky Blue Pete
O

oldfiver

Well-Known Member
  • Jul 3, 2022
  • #5,431
Brighton Sky Blue said:
Is Street the final decision maker?
Click to expand...

Depends on what the decision is and if more than one

Duggins (eventually) said the application had been signposted to WMCA- they could pass it back for CCC to decide?
 
O

oldfiver

Well-Known Member
  • Jul 3, 2022
  • #5,432
Nick said:
Andy Street, you say?

Click to expand...

Politician!
 

Moff

Well-Known Member
  • Jul 3, 2022
  • #5,433
Grendel said:
He loaned the whole £10 million back didn’t he?
Click to expand...

Im not sure he did.
Have you details of this? I thought part of the bond payments was to pay him back his loan to the club, and not for him to give it straight back.
 

joemercersaces

Well-Known Member
  • Jul 3, 2022
  • #5,434
But the beloved city council will no doubt plead poverty when it comes to funding childrens social services, then bail out their floundering bedfellows at Wasps.
 
Reactions: Sick Boy and duffer

Liquid Gold

Well-Known Member
  • Jul 3, 2022
  • #5,435
Moff said:
Im not sure he did.
Have you details of this? I thought part of the bond payments was to pay him back his loan to the club, and not for him to give it straight back.
Click to expand...
I think he’s loaned It back into the club over the subsequent years.

One of their issues is that he isn’t infinitely wealthy and knows he’ll bankrupt himself if this path continues.
 
O

oldfiver

Well-Known Member
  • Jul 3, 2022
  • #5,436
Moff said:
Im not sure he did.
Have you details of this? I thought part of the bond payments was to pay him back his loan to the club, and not for him to give it straight back.
Click to expand...

At last June was about back to where he was.

He was repaid £10m but it has been re-lent
 

Moff

Well-Known Member
  • Jul 3, 2022
  • #5,437
oldfiver said:
At last June was about back to where he was.

He was repaid £10m but it has been re-lent
Click to expand...

Yes looking at reports he got repaid his £10 million but has loaned them much more.
They seriously are a complete basket case, without his money they would have been screwed long ago.
 

Gynnsthetonic

Well-Known Member
  • Jul 3, 2022
  • #5,438
How long do they have to issue their accounts, they can't indefinitely not show them surely
 

shepardo01

Well-Known Member
  • Jul 3, 2022
  • #5,439
Gynnsthetonic said:
How long do they have to issue their accounts, they can't indefinitely not show them surely
Click to expand...
I'm sure somebody said that Derby still hadn't filed theirs from a couple of years back.... now they are effectively a different company.
 
Reactions: Gynnsthetonic

chiefdave

Well-Known Member
  • Jul 3, 2022
  • #5,440
You've got to assume if he took £10m out of the bond he wanted his money back, his plan wouldn't have been to put it back in. Suspect its similar to the situation we have with SISU where he only puts money in as a last resort as not doing it would run the risk of wiping out his entire investment.

There was media reports that he was getting close to what he could afford to put in to the club a while back as well, which certainly ties in with using the bond to pay himself back. Why else would you saddle the club with an extra £10m debt amongst all the uncertainty of a move.

The question I've always had is what happens when he goes? We're not in a financial climate where there will be a queue of people to take over and given they've only been here a few year they will struggle to even find a Hoffman type figure locally.
 
Last edited: Jul 4, 2022
Reactions: duffer and Gynnsthetonic
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oldfiver

Well-Known Member
  • Jul 4, 2022
  • #5,441
Gynnsthetonic said:
How long do they have to issue their accounts, they can't indefinitely not show them surely
Click to expand...

They should have filed interim accounts to December 2021 by now.
 

Grendel

Well-Known Member
  • Jul 4, 2022
  • #5,442
chiefdave said:
You've got to assume if he took £10m out of the bond he wanted his money back, his plan wouldn't have been to put it back in. Suspect its similar to the situation we have with SISU where he only puts money in as a last resort as not doing it would run the risk of wiping out his entire investment.

There was media reports that he was getting close to what he could afford to put in to the club a while back as well, which certainly ties in with using the bond to pay himself back. Why else would you saddle the club with an extra £10m debt amongst all the uncertainty of a move.

The question I've always had is what happens when he goes? We're not in a financial climate where there will be a queue of people to take over and given they've only been here a few year they will struggle to even find a Hoffman type figure locally.
Click to expand...

I assume most of the loans are through his investment company in Malta surely?
 

Grendel

Well-Known Member
  • Jul 4, 2022
  • #5,443
Aston Villa seem to have had a grant for development in process with Andy street

Villa Park expansion plan to see £30m train station redevelopment

Aston Villa have entered talks over a £30 million rebuild of Witton Station as part of stadium expansion plans.
www.expressandstar.com
 
D

Deleted member 5849

Guest
  • Jul 4, 2022
  • #5,444
Grendel said:
Aston Villa seem to have had a grant for development in process with Andy street

Villa Park expansion plan to see £30m train station redevelopment

Aston Villa have entered talks over a £30 million rebuild of Witton Station as part of stadium expansion plans.
www.expressandstar.com
Click to expand...
They're agreeing to fund the station redevelopment aren't they, rather than granting Villa some cash?
 

Grendel

Well-Known Member
  • Jul 4, 2022
  • #5,445
Deleted member 5849 said:
They're agreeing to fund the station redevelopment aren't they, rather than granting Villa some cash?
Click to expand...

on his website he also says working with Villa to help extend the stadium to 50,000
 

Terry Gibson's perm

Well-Known Member
  • Jul 4, 2022
  • #5,446
Deleted member 5849 said:
They're agreeing to fund the station redevelopment aren't they, rather than granting Villa some cash?
Click to expand...


Somebody at Wasps has read this and said quick I have a plan the station looks bad let’s try to get some cash for that as well.
 

Grendel

Well-Known Member
  • Jul 4, 2022
  • #5,447
I think he will be keen to help Villa

 

fernandopartridge

Well-Known Member
  • Jul 4, 2022
  • #5,448
Grendel said:
Aston Villa seem to have had a grant for development in process with Andy street

Villa Park expansion plan to see £30m train station redevelopment

Aston Villa have entered talks over a £30 million rebuild of Witton Station as part of stadium expansion plans.
www.expressandstar.com
Click to expand...

Yeah though tbf Witton Station is public infrastructure not for the exclusive use of Aston Villa, and upgrading it will align with a lot of the WMCA objectives. It remains to be seen whatever Wasps are proposing for the £13m.
 
Reactions: djr8369 and vow
D

Deleted member 5849

Guest
  • Jul 4, 2022
  • #5,449
Grendel said:
on his website he also says working with Villa to help extend the stadium to 50,000
Click to expand...
That's a play on words though. They are, as it'd need more capacity to cope with extra fans. Extra train tickets = extra revenue to pay it back, and the mon ey isn't actually going to Villa to do it.

Now, if Wasps were to apply to demolish the station at the Arena, to cope with the decline in their fanbase, they might have some success...
 
Reactions: Mucca Mad Boys, vow, Moff and 1 other person

Terry Gibson's perm

Well-Known Member
  • Jul 4, 2022
  • #5,450
Grendel said:
I think he will be keen to help Villa

Click to expand...


Never liked him anyway always strikes me as a total knob head.
 

Grendel

Well-Known Member
  • Jul 4, 2022
  • #5,451
Terry Gibson's perm said:
Never liked him anyway always strikes me as a total knob head.
Click to expand...

They are an odd couple that’s for sure - wonder if they do each other’s hair.
 
Reactions: AOM, Moff, SlowerThanPlatt and 1 other person

Terry Gibson's perm

Well-Known Member
  • Jul 4, 2022
  • #5,452
Grendel said:
They are an odd couple that’s for sure - wonder if they do each other’s hair.
Click to expand...


I might like Street a bit more if he rejects the wasps begging bowl though.
 
Reactions: RegTheDonk, vow and Sky Blue Pete

Grendel

Well-Known Member
  • Jul 4, 2022
  • #5,453
Deleted member 5849 said:
That's a play on words though. They are, as it'd need more capacity to cope with extra fans. Extra train tickets = extra revenue to pay it back, and the mon ey isn't actually going to Villa to do it.

Now, if Wasps were to apply to demolish the station at the Arena, to cope with the decline in their fanbase, they might have some success...
Click to expand...

Wasps will argue it’s to improve infrastructure and would have to be spent anyway
 

Sky Blue Pete

Well-Known Member
  • Jul 4, 2022
  • #5,454
Grendel said:
Wasps will argue it’s to improve infrastructure and would have to be spent anyway
Click to expand...
Yeah no doubt in my mind they’ll get the money which is why wasps aren’t making statements or too worried
 

Gynnsthetonic

Well-Known Member
  • Jul 4, 2022
  • #5,455
Sky Blue Pete said:
Yeah no doubt in my mind they’ll get the money which is why wasps aren’t making statements or too worried
Click to expand...
Perhaps they aren't making statements because they genuinely don't know themselves
 

Grendel

Well-Known Member
  • Jul 4, 2022
  • #5,456
Sky Blue Pete said:
Yeah no doubt in my mind they’ll get the money which is why wasps aren’t making statements or too worried
Click to expand...

The fact they won’t make a comment Bon why they have applied is odd

Street is very public about things he’s involved in so people should ask him
 
Reactions: Hiraeth

chiefdave

Well-Known Member
  • Jul 4, 2022
  • #5,457
Grendel said:
Wasps will argue it’s to improve infrastructure and would have to be spent anyway
Click to expand...
If there was a genuine infrastructure need would there be so much secrecy? We all know they have friends in the local media, even if they couldn't release it official we'd have an article from Bridge saying 'sources tell me'.
 
O

oldfiver

Well-Known Member
  • Jul 4, 2022
  • #5,458
Terry Gibson's perm said:
I might like Street a bit more if he rejects the wasps begging bowl though.
Click to expand...

It will end up for CCCs decision
 

Gynnsthetonic

Well-Known Member
  • Jul 4, 2022
  • #5,459
Reports on Drunken Drivel the bond has been turned down while Shugs thinks its a straightforward money given grant
 
Reactions: CCFC54321 and Sky Blue Pete
C

CCFC54321

Well-Known Member
  • Jul 5, 2022
  • #5,460
Mr Gilbert’s gone very quiet recently……quiet before the storm perhaps?
 
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