Non AMP
Sky Blues Talk
  • Home
  • Forums
  • Coventry City Football Club
  • Football & Other Sports
This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

Wasps downward spiral... (9 Viewers)

  • Thread starter CCFC54321
  • Start date Oct 20, 2018
Forums New posts
Prev
  • 1
  • …
  • 166
  • 167
  • 168
  • 169
  • 170
  • …
  • 211
Next
First Prev 168 of 211 Next Last

jordan210

Well-Known Member
  • Aug 3, 2022
  • #5,846
Nick said:
What the fuck?



Surely they realise this is not the stadium?
Click to expand...

Im sure Boylesport made a good profit this year. Must be all down to our shirt sponsor...........
 
C

CCFC54321

Well-Known Member
  • Aug 3, 2022
  • #5,847
What a pair of TWATS….
 
Reactions: Evo1883, djr8369, MacReady and 8 others

AOM

Well-Known Member
  • Aug 4, 2022
  • #5,848


 
Reactions: MacReady, MAFF, Terry Gibson's perm and 1 other person

Moff

Well-Known Member
  • Aug 4, 2022
  • #5,849
Is Shugs a parody of a fucking imbecile or does it just come naturally
 
Reactions: djr8369, Kneeza, CCFC54321 and 1 other person

fernandopartridge

Well-Known Member
  • Aug 4, 2022
  • #5,850
Moff said:
Is Shugs a parody of a fucking imbecile or does it just come naturally
Click to expand...

That's a bit unfair on an imbecile
 
Reactions: Skyblueweeman, Moff and Kneeza

Kneeza

Well-Known Member
  • Aug 4, 2022
  • #5,851
Moff said:
Is Shugs a parody of a fucking imbecile or does it just come naturally
Click to expand...
Utterly effortless.
 
Reactions: Moff

Kneeza

Well-Known Member
  • Aug 4, 2022
  • #5,852
They probably haven't noticed the massive upturns in the housing lending market. Nationwide for instance:

"Numbers at a glance

Financial highlights
 Underlying profit increased to £1,604m (2021: £790m) and statutory profit increased to
£1,597m (2021: £853m) primarily due to:
o Higher net interest income of £3,562m (2021: £3,146m), as a result of stronger
margins on mortgages taken out early in the pandemic, as well as growth in core
products
o Net release of £27m of credit provisions (2021: charge of £190m), reflecting an
improved economic outlook in the year
o £166m increase in other income, in part reflecting higher income from banking
products, as volumes improved after the pandemic
 Net interest margin improved to 1.26% (2021: 1.21%)
 Strong leverage ratio of 5.4% (2021: 5.4%), comfortably higher than our 4.5% minimum
target
 CET 1 capital resources grew to £12.5bn (2021: £12.0bn), although our reported CET1
ratio was lower at 24.1% (2021: 36.4%) due to changes in industry-wide regulation"

Makes CBSs figures look chickenfeed by comparison.
 

chiefdave

Well-Known Member
  • Aug 5, 2022
  • #5,853
Another article following on from The Times piece, this one just about Wasps being in a mess and defaulting. Maybe the media is starting to pick up on this.

Wasps rugby union club defaults on repaying bond investors

Wasps Finance raised £35m from investors in 2015, partly to pay back a loan linked to the purchase of an arena in Coventry, and it was due to return capital to investors in mid-May.
www.thisismoney.co.uk
 
Reactions: vow, mr_monkey, CCFC54321 and 2 others

chiefdave

Well-Known Member
  • Aug 5, 2022
  • #5,854
Bit odd as they had a grant to ensure it was a state of the art commonwealth venue, unless that was made up rubbish

Commonwealth Games: England's George Ramm announces retirement after winning wrestling bronze

England's George Ramm wins Commonwealth Games bronze and then announces he is retiring from competing at the age of 26.
www.bbc.co.uk
 

Peter Billing

Well-Known Member
  • Aug 6, 2022
  • #5,855
Very lucky it wasn't more serious.

Commonwealth Games wrestling interrupted after speaker cover falls from roof
 

shepardo01

Well-Known Member
  • Aug 6, 2022
  • #5,856
chiefdave said:
Bit odd as they had a grant to ensure it was a state of the art commonwealth venue, unless that was made up rubbish

Commonwealth Games: England's George Ramm announces retirement after winning wrestling bronze

England's George Ramm wins Commonwealth Games bronze and then announces he is retiring from competing at the age of 26.
www.bbc.co.uk
Click to expand...
CD, we know they had a Grant(s).... what we don't know (or maybe we do! ;-) ) is where the money awarded went!!
 
D

djr8369

Well-Known Member
  • Aug 6, 2022
  • #5,857
CCFC54321 said:

ADVFN

uk.advfn.com

One guys declared he stands to lose £170k on the bond!
Click to expand...
I think that guy previously said deferral was good as they’re still being paid interest and will still get all their investment back at the end. Good luck with that, fella.
 
Reactions: CCFC54321

Grendel

Well-Known Member
  • Aug 6, 2022
  • #5,858
djr8369 said:
I think that guy previously said deferral was good as they’re still being paid interest and will still get all their investment back at the end. Good luck with that, fella.
Click to expand...

There is a likelihood some will there’s many who will think they have little choice
 
O

oldfiver

Well-Known Member
  • Aug 7, 2022
  • #5,859

Financial woes force Wasps to halt recruitment

ON THE BLINDSIDE By Neil Fissler Wasps have placed a freeze on recruitment despite Lee Blackett aiming to sign another two players before the new season kicks off at Gloucester next month. The financially distressed outfit have already missed one deadline to repay the £35m retail bond they took...
www.therugbypaper.co.uk
 

chiefdave

Well-Known Member
  • Aug 7, 2022
  • #5,860
Think there could be more to the issues at Wasps than suspected. Not paying back the bond is obviously a huge red flag but now we’re seeing essential pitch maintenance not being carried out and they aren’t signing players.

Not to say they’re going bust tomorrow of course but potentially more to this than just HSBC getting cold feet.
 
Reactions: vow, AOM, duffer and 2 others

Evo1883

Well-Known Member
  • Aug 7, 2022
  • #5,861
Surely the best thing for all involved is for them to m0ve to Birmingham tomorrow forever
 
Reactions: CCFC54321, Tommo1993 and shepardo01
O

oldfiver

Well-Known Member
  • Aug 7, 2022
  • #5,862
Evo1883 said:
Surely the best thing for all involved is for them to m0ve to Birmingham tomorrow forever
Click to expand...

They have certainly checked that out
 
Reactions: Evo1883

Liquid Gold

Well-Known Member
  • Aug 7, 2022
  • #5,863
oldfiver said:
They have certainly checked that out
Click to expand...
You’ve alluded to this before and I’ve Said it makes sense.

What have you actually heard?
 
H

HuckerbyDublinWhelan

Well-Known Member
  • Aug 7, 2022
  • #5,864
oldfiver said:
They have certainly checked that out
Click to expand...
In recent times?
 

Gynnsthetonic

Well-Known Member
  • Aug 7, 2022
  • #5,865
Is the 12th August still being applied for the refinancing or has that been written off. Wasps releasing all their top players end of the season, no new signings and now no money being spent on the pitch and the total silence from them something definitely happening. Or with no relegation they could play every game with youth players and lose 60-0 and do the same next season.
 

MalcSB

Well-Known Member
  • Aug 7, 2022
  • #5,866
Gynnsthetonic said:
Is the 12th August still being applied for the refinancing or has that been written off. Wasps releasing all their top players end of the season, no new signings and now no money being spent on the pitch and the total silence from them something definitely happening. Or with no relegation they could play every game with youth players and lose 60-0 and do the same next season.
Click to expand...
12th August written off. Wasps have said they are putting together a proposal to extend the terms of the bond (a consent solicitation) to give them more time to come up with a refinance package.
 

MalcSB

Well-Known Member
  • Aug 7, 2022
  • #5,867
Their accounts (to end June 22) will be interesting given that last years cast doubt over whether they could be considered a going concern if bonds repayment not met, which they haven’t been within the 2022 accounting year.
 

Gynnsthetonic

Well-Known Member
  • Aug 7, 2022
  • #5,868
MalcSB said:
Their accounts (to end June 22) will be interesting given that last years cast doubt over whether they could be considered a going concern if bonds repayment not met, which they haven’t been within the 2022 accounting year.
Click to expand...
They won't issue them though will they, they havnt done last years yet
 

Grendel

Well-Known Member
  • Aug 7, 2022
  • #5,869
Gynnsthetonic said:
They won't issue them though will they, they havnt done last years yet
Click to expand...

The group accounts were issued
 

Gynnsthetonic

Well-Known Member
  • Aug 7, 2022
  • #5,870
Grendel said:
The group accounts were issued
Click to expand...
Is that Holdings?
 

MalcSB

Well-Known Member
  • Aug 7, 2022
  • #5,871
Yes, it’s Holdings who operate the RFC, own ACL and are major shareholders in IEC

https://www.wasps.co.uk/media/8656/whl-group-ye-30-06-2021-final.pdf
 
Reactions: Gynnsthetonic

MalcSB

Well-Known Member
  • Aug 7, 2022
  • #5,872
Their accounting year runs to June, so The last accounting year is to June 2022 which statements are due, The June 2021 statements raise doubt about going concern if bonds not repaid May 2022. I think it’s on page 28.
 
O

oldfiver

Well-Known Member
  • Aug 7, 2022
  • #5,873
MalcSB said:
Their accounting year runs to June, so The last accounting year is to June 2022 which statements are due, The June 2021 statements raise doubt about going concern if bonds not repaid May 2022. I think it’s on page 28.
Click to expand...

Strictly WH accounts do not need filing at Companies House until March 2023

However Wasps Finance due December 2022
 

MalcSB

Well-Known Member
  • Aug 7, 2022
  • #5,874
The RFU require them for inspection on or before 31 December. That will be Holdings who operate the RFC. Not sure if they are “confidential” at that point but probably are. Bondholders and/ or bond trustees may want some detail as part of the consent solicitation.

if there is a doubt about going concern, does that raise the possibility of trading whilst insolvent?
 
H

HuckerbyDublinWhelan

Well-Known Member
  • Aug 7, 2022
  • #5,875
Can we have a poll on here? Who the hell is “accepting SISU” - Shugs doesn’t get it does he. We want SISU out. But the only feasible way of ridding them is that the parasites go bump or go back to London or wherever they’re wanted.
 

Nick

Administrator
  • Aug 7, 2022
  • #5,876
HuckerbyDublinWhelan said:
Can we have a poll on here? Who the hell is “accepting SISU” - Shugs doesn’t get it does he. We want SISU out. But the only feasible way of ridding them is that the parasites go bump or go back to London or wherever they’re wanted.
Click to expand...

Because since they have been here their PR has been "but SISU" which worked a treat.
 
Reactions: AOM, Moff, duffer and 4 others
H

HuckerbyDublinWhelan

Well-Known Member
  • Aug 7, 2022
  • #5,877
Nick said:
Because since they have been here their PR has been "but SISU" which worked a treat.
Click to expand...
He’s a fucking nause. We’re aware SISU are shysters, but surely he’s not think enough to realise the club will never be bought unless they have any assets or a potential asset they can buy into.

the council shafted any chance we had of that in 2014 when they sold the Ricoh.

the council’s short sightedness lumbered us with SISU, for the foreseeable future
 
Reactions: duffer
C

CCFC54321

Well-Known Member
  • Aug 7, 2022
  • #5,878

DrunkenWasps.com - Sky BluesTalk in a forgiving mood!

DrunkenWasps.com : Unofficial Wasps news, views and message boards.
www.rugbynetwork.net

what a pair of self pompous pricks on here. Thank fuck no one’s interested in their little rugby club.
 
O

oldfiver

Well-Known Member
  • Aug 7, 2022
  • #5,879
MalcSB said:
The RFU require them for inspection on or before 31 December. That will be Holdings who operate the RFC. Not sure if they are “confidential” at that point but probably are. Bondholders and/ or bond trustees may want some detail as part of the consent solicitation.

if there is a doubt about going concern, does that raise the possibility of trading whilst insolvent?
Click to expand...

For the Bondholders they need WF accounts

The WH accounts should also include cash flow projections and show they are solvent
 
Reactions: duffer

Liquid Gold

Well-Known Member
  • Aug 7, 2022
  • #5,880
CCFC54321 said:

DrunkenWasps.com - Sky BluesTalk in a forgiving mood!

DrunkenWasps.com : Unofficial Wasps news, views and message boards.
www.rugbynetwork.net

what a pair of self pompous pricks on here. Thank fuck no one’s interested in their little rugby club.
Click to expand...
Lists a bunch of forms of protest and then says

”Some views there which would get the support of certain Russian or Chinese government autocrats!”

I think they’ll never get more idiotic but they keep finding another level.
 
Prev
  • 1
  • …
  • 166
  • 167
  • 168
  • 169
  • 170
  • …
  • 211
Next
First Prev 168 of 211 Next Last
You must log in or register to reply here.

Users who are viewing this thread

Total: 10 (members: 0, guests: 10)
Share:
Facebook Twitter Reddit Pinterest Tumblr WhatsApp Email
  • Home
  • Forums
  • Coventry City Football Club
  • Football & Other Sports
  • Default Style
  • Contact us
  • Terms and rules
  • Privacy policy
  • Help
  • Home
Community platform by XenForo® © 2010-2021 XenForo Ltd.
Menu
Log in

Register

  • Home
  • Forums
    • New posts
    • Search forums
  • What's new
    • New posts
    • Latest activity
  • Members
    • Current visitors
  • Donate to the Season Ticket Fund
X

Privacy & Transparency

We use cookies and similar technologies for the following purposes:

  • Personalized ads and content
  • Content measurement and audience insights

Do you accept cookies and these technologies?

X

Privacy & Transparency

We use cookies and similar technologies for the following purposes:

  • Personalized ads and content
  • Content measurement and audience insights

Do you accept cookies and these technologies?