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Wasps downward spiral... (6 Viewers)

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

Well-Known Member
  • Jul 14, 2022
  • #5,601
Grendel said:
what if a parent company of ACL 2006 isn’t insolvent or the asset distribution transfers between the group means ACL 2006 isn’t insolvent?

This is a SBSL and Otium entertainment scenario isn’t it?
Click to expand...


Not sure what Asset Distribution Transfers you mean? Can you clarify?

ACL and ACL2006 have guaranteed the Wasps Finance borrowings secured on their interest in the Arena. So if the Bond Holders call on the Security it will depend on what ACL can raise to pay the debt

I would need to look at the other 2 accounts to see what the position is
 

Gynnsthetonic

Well-Known Member
  • Jul 15, 2022
  • #5,602
I think I've been barred from posting on Drunken Drivel, nothing abusive just trying to put my point of view across, anyone else had this trouble
 

Grendel

Well-Known Member
  • Jul 15, 2022
  • #5,603
Gynnsthetonic said:
I think I've been barred from posting on Drunken Drivel, nothing abusive just trying to put my point of view across, anyone else had this trouble
Click to expand...

Im still there
 

Gynnsthetonic

Well-Known Member
  • Jul 15, 2022
  • #5,604
Grendel said:
Im still there
Click to expand...
I've been trying to post replies last 2 days but nothing shows up, it was OK either on in the week, I only joined on Sunday as had enough of some of these waffle, some new posters starting to appear from older wasp fans slating the move and the current regime. Some now follow Ealing
 

Gynnsthetonic

Well-Known Member
  • Jul 15, 2022
  • #5,605
Tossers have barred me, not abusive or anything just trying to put over a constructive view
 

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Reactions: vow

Grendel

Well-Known Member
  • Jul 15, 2022
  • #5,606
I don’t think they like the username
 
Reactions: You'll Never Beat McPake, Terry Gibson's perm, Razzle Dazzle Dean Gordon and 3 others

chiefdave

Well-Known Member
  • Jul 15, 2022
  • #5,607
Gynnsthetonic said:
I think I've been barred from posting on Drunken Drivel, nothing abusive just trying to put my point of view across, anyone else had this trouble
Click to expand...
Yep I had the same. Signed up when they first came here as they were posting stuff about the stadium situation that was wildly inaccurate. Tried posting a bit of the background info and immediately got kicked off.
 
Reactions: Gynnsthetonic

fernandopartridge

Well-Known Member
  • Jul 15, 2022
  • #5,608
Grendel said:
what if a parent company of ACL 2006 isn’t insolvent or the asset distribution transfers between the group means ACL 2006 isn’t insolvent?

This is a SBSL and Otium entertainment scenario isn’t it?
Click to expand...

The what if doesn't matter here though does it, it defines what insolvent means in this context
 

ccfcchris

Well-Known Member
  • Jul 15, 2022
  • #5,609
Someone needs to ask that idiot shugs how long Wasps have been playing at the CBS stadium. If the stadium is going to save them financially why hasn't it so far?
 

Grendel

Well-Known Member
  • Jul 15, 2022
  • #5,610
ccfcchris said:
Someone needs to ask that idiot shugs how long Wasps have been playing at the CBS stadium. If the stadium is going to save them financially why hasn't it so far?
Click to expand...

they just need a few extra concerts apparently
 
Reactions: Kneeza, Terry Gibson's perm and Gynnsthetonic

fernandopartridge

Well-Known Member
  • Jul 15, 2022
  • #5,611
ccfcchris said:
Someone needs to ask that idiot shugs how long Wasps have been playing at the CBS stadium. If the stadium is going to save them financially why hasn't it so far?
Click to expand...

Well quite, the stadium is 17 years old now and has not turned any sustainable profit yet, not helped by the fact that its operating company has never been debt free. The lease premium YB loan / the CCC replacement loan / the bond. It's not going to get any better if they can refinance the bond.

Whether it was realistic or not I don't know, but SISU were on the right track to distress and discharge the YB loan in 2012.
 
Reactions: SkyBlueZack

chiefdave

Well-Known Member
  • Jul 15, 2022
  • #5,612
Looking at the work going on for the Commonwealth Games is this going to end up like the Olympics where the setup and breakdown time meant they couldn't run other events and they lost money. Possibly why other venues pulled out and they ended up here.
 
Reactions: Terry Gibson's perm

Philosoraptor

Well-Known Member
  • Jul 15, 2022
  • #5,613
"...all they need is a boyzone out of retirement weekend and problems all sorted apparently..."

Corker of a line. Made me smile
 
Reactions: vow

Grendel

Well-Known Member
  • Jul 15, 2022
  • #5,614
Philosorapter said:
"...all they need is a boyzone out of retirement weekend and problems all sorted apparently..."

Corker of a line. Made me smile
Click to expand...

Who said that?
 

ccfctommy

Well-Known Member
  • Jul 15, 2022
  • #5,615
fernandopartridge said:
Well quite, the stadium is 17 years old now and has not turned any sustainable profit yet, not helped by the fact that its operating company has never been debt free. The lease premium YB loan / the CCC replacement loan / the bond. It's not going to get any better if they can refinance the bond.

Whether it was realistic or not I don't know, but SISU were on the right track to distress and discharge the YB loan in 2012.
Click to expand...

Nearly old enough to drink.
 
Reactions: fernandopartridge

Kneeza

Well-Known Member
  • Jul 15, 2022
  • #5,616
ccfctommy said:
Nearly old enough to drink.
Click to expand...
So's Shugs.
 
C

CCFC54321

Well-Known Member
  • Jul 23, 2022
  • #5,617
Have these bastards been liquidated yet?
 
Reactions: clint van damme

Kneeza

Well-Known Member
  • Jul 23, 2022
  • #5,618
CCFC54321 said:
Have these bastards been liquidated yet?
Click to expand...
Patience.
 
Reactions: CCFC54321, Gynnsthetonic and duffer
O

oldfiver

Well-Known Member
  • Jul 23, 2022
  • #5,619
Kneeza said:
Patience.
Click to expand...

Martin Reeves will do his best to stop that
 
Reactions: Sky Blue Pete

shepardo01

Well-Known Member
  • Jul 23, 2022
  • #5,620
Kneeza said:
Patience.
Click to expand...
Any rumours on the Rugby circuit Kneeza?
 

Gynnsthetonic

Well-Known Member
  • Jul 23, 2022
  • #5,621
Isn't it the big update on Friday 29th, supposedly
 
Reactions: shepardo01

Flying Fokker

Well-Known Member
  • Jul 23, 2022
  • #5,622
oldfiver said:
Martin Reeves will do his best to stop that
Click to expand...
just Wondering? Have you met him? I have and have to say, he is a horrible man. Seriously weird comment came my direction. Very weird.
 
Reactions: mr_monkey
C

CCFC54321

Well-Known Member
  • Jul 23, 2022
  • #5,623
Flying Fokker said:
just Wondering? Have you met him? I have and have to say, he is a horrible man. Seriously weird comment came my direction. Very weird.
Click to expand...
Tell us more!
 

Sky Blue Pete

Well-Known Member
  • Jul 23, 2022
  • #5,624
CCFC54321 said:
Tell us more!
Click to expand...
I’ve met him he was ok. Annoyingly didn’t want to do anything to support us coming back to Coventry though was just awful and wrong
 

Flying Fokker

Well-Known Member
  • Jul 23, 2022
  • #5,625
It was a weird, not an approach, more one Upmanship. Stupid prat, word in my ear, reminded me of someone who may have been educated at public school. I dislike man.
 

Kneeza

Well-Known Member
  • Jul 23, 2022
  • #5,626
shepardo01 said:
Any rumours on the Rugby circuit Kneeza?
Click to expand...
Nothing I'd attach any credence to, but hope springs eternal.
 
C

CCFC54321

Well-Known Member
  • Jul 24, 2022
  • #5,627

Wasps in the mire - now in administration - Page 5 - Leicester Tigers

forum.leicestertigers.com

Not much sympathy to wasps down the M69….
 
Reactions: duffer

Kneeza

Well-Known Member
  • Jul 24, 2022
  • #5,628
CCFC54321 said:

Wasps in the mire - now in administration - Page 5 - Leicester Tigers

forum.leicestertigers.com

Not much sympathy to wasps down the M69….
Click to expand...
Never has been.
Tigers can fuck right off too though. They raped Coventry for talent for too many years, taking so many from the club, the city, and the county.
However, at least they're a localish club, and I almost regard them warmly nowadays given the presence of the invading filth.
Almost.
 
Reactions: vow, Moff, Deleted member 5849 and 2 others
O

oldfiver

Well-Known Member
  • Jul 24, 2022
  • #5,629
Kneeza said:
Never has been.
Tigers can fuck right off too though. They raped Coventry for talent for too many years, taking so many from the club, the city, and the county.
However, at least they're a localish club, and I almost regard them warmly nowadays given the presence of the invading filth.
Almost.
Click to expand...

They have sent a few loanees to BPA over past few season?

There is quite a close connection between both teams
 

Kneeza

Well-Known Member
  • Jul 24, 2022
  • #5,630
oldfiver said:
They have sent a few loanees to BPA over past few season?

There is quite a close connection between both teams
Click to expand...
And most of them, apart from Richardson, were a waste of space.
Having lifted Grindal, Balding, England internationals Goode, Cockerill and many others from the club*, plus Lloyd, Garforth, Hamilton, and many more international standard players from the city and county, I consider one loan of a reasonable academy player in return as very poor payback indeed.
Fuck 'em.

(Edit: and of course, very recently, Nic Dolly, who has also gone on to be selected for the England squad).
 
Last edited: Jul 25, 2022
Reactions: Moff

Covkid1968#

Well-Known Member
  • Jul 25, 2022
  • #5,631
Kneeza said:
And most of them, apart from Richardson, were a waste of space.
Having lifted Grindal, Balding, England internationals Goode, Cockerill and many others from the club, plus Lloyd, Garforth, Hamilton, and many more international standard players from the city and county, I consider one loan of a reasonable academy player in return as very poor payback indeed.
Fuck 'em.
Click to expand...
Yep this is where I am….so frustrating that we should have been in Tigers position now given our status in English Rugby back in the day.
 
D

Deleted member 5849

Guest
  • Jul 25, 2022
  • #5,632
Covkid1968# said:
Yep this is where I am….so frustrating that we should have been in Tigers position now given our status in English Rugby back in the day.
Click to expand...
Can also blame Rugby Lions for poaching a bunch of players in the 80s.
 

Kneeza

Well-Known Member
  • Jul 25, 2022
  • #5,633
Deleted member 5849 said:
Can also blame Rugby Lions for poaching a bunch of players in the 80s.
Click to expand...
True. But look where they are now.
 
D

Deleted member 5849

Guest
  • Jul 25, 2022
  • #5,634
Kneeza said:
True. But look where they are now.
Click to expand...
That's as much the fantasist who promised them a 20k stadium etc though, isn't it. I know they'd slipped, but he just finished them off.

Shame, I quite like Webb Ellis Road!
 

Kneeza

Well-Known Member
  • Jul 25, 2022
  • #5,635
Deleted member 5849 said:
That's as much the fantasist who promised them a 20k stadium etc though, isn't it. I know they'd slipped, but he just finished them off.

Shame, I quite like Webb Ellis Road!
Click to expand...
Also true.
Yes, Webb Ellis Rd is a nice little ground. A friend played for them when they were in the top division (and propped Brainy!). He still plays for Banbury vets' side. Too fat, too old, but some people just don't know when to retire!
When I met my missus she lived on the road behind WER, Johnson Ave, and we used to go occasionally.
Nice clubhouse too.
 
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