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Wasps downward spiral... (7 Viewers)

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

Well-Known Member
  • Sep 23, 2022
  • #6,931
Grendel said:
That article from Dellagio is even funnier

The forum regulars trust Lozza - I said that’s what he’s wife said once - that’s a lack of respect of someone with mental health issues which is why he spent £10 grand on Coke and hookers
Click to expand...

Is Lawrence Dallaglio even involved with Wasps or is it like the equivalent of Dennis Wise coming out with random incoming positive news about Coventry City?
 

Nick

Administrator
  • Sep 23, 2022
  • #6,932
AOM said:
Is Lawrence Dallaglio even involved with Wasps or is it like the equivalent of Dennis Wise coming out with random incoming positive news about Coventry City?
Click to expand...

He's a director.
 
Reactions: AOM

Moff

Well-Known Member
  • Sep 23, 2022
  • #6,933
Nick said:
He's a director.
Click to expand...

With his history he would have been better as a Social secretary
 
Reactions: Terry Gibson's perm, fernandopartridge, duffer and 1 other person

AOM

Well-Known Member
  • Sep 23, 2022
  • #6,934
Nick said:
He's a director.
Click to expand...

Fair enough. Wouldn't mind hearing from Dennis Wise though...
 
Reactions: wingy, duffer, vow and 2 others

Gynnsthetonic

Well-Known Member
  • Sep 23, 2022
  • #6,935
Isn't the £2m interest on the bond due shortly too, where's that coming from?
 

Kneeza

Well-Known Member
  • Sep 24, 2022
  • #6,936
Gynnsthetonic said:
Isn't the £2m interest on the bond due shortly too, where's that coming from?
Click to expand...
Piece of piss. That's the income from ACL. Have you not read the article copied above?
 

MusicDating

Euro 2016 Prediction League Champion!!
  • Sep 25, 2022
  • #6,937
More from Dallaglio in today's Sunday Times -

'I can’t comment on Worcester but I will say that I expect Wasps to find a way out of their predicament. The situation is a bit different from that of the Warriors, given there are other enterprises — all equally badly affected by the loss of revenue brought on by Covid — that are folded into the same business as the Wasps rugby club. It’s complicated because of the debt structure with which the club were bought but there is no reason it can’t be a viable business. If the move to Coventry hadn’t taken place in 2014 then the administrators might have been called in a few years ago.'

They're definitely going to play the Covid card when they go into admin then.
 
W

wingy

Well-Known Member
  • Sep 25, 2022
  • #6,938
MusicDating said:
More from Dallaglio in today's Sunday Times -

'I can’t comment on Worcester but I will say that I expect Wasps to find a way out of their predicament. The situation is a bit different from that of the Warriors, given there are other enterprises — all equally badly affected by the loss of revenue brought on by Covid — that are folded into the same business as the Wasps rugby club. It’s complicated because of the debt structure with which the club were bought but there is no reason it can’t be a viable business. If the move to Coventry hadn’t taken place in 2014 then the administrators might have been called in a few years ago.'

They're definitely going to play the Covid card when they go into admin then.
Click to expand...
That complicated structure rears its head again.
Fully expect when the event happens there will be some sacrificial element that disappears carrying no assets but plenty of debt.
 
Reactions: chiefdave and Terry Gibson's perm

Terry Gibson's perm

Well-Known Member
  • Sep 25, 2022
  • #6,939
MusicDating said:
More from Dallaglio in today's Sunday Times -

'I can’t comment on Worcester but I will say that I expect Wasps to find a way out of their predicament. The situation is a bit different from that of the Warriors, given there are other enterprises — all equally badly affected by the loss of revenue brought on by Covid — that are folded into the same business as the Wasps rugby club. It’s complicated because of the debt structure with which the club were bought but there is no reason it can’t be a viable business. If the move to Coventry hadn’t taken place in 2014 then the administrators might have been called in a few years ago.'

They're definitely going to play the Covid card when they go into admin then.
Click to expand...


The way they talk you would think they were the only company that was affected by covid
 
Reactions: duffer

tisza

Well-Known Member
  • Sep 25, 2022
  • #6,940
MusicDating said:
More from Dallaglio in today's Sunday Times -

'I can’t comment on Worcester but I will say that I expect Wasps to find a way out of their predicament. The situation is a bit different from that of the Warriors, given there are other enterprises — all equally badly affected by the loss of revenue brought on by Covid — that are folded into the same business as the Wasps rugby club. It’s complicated because of the debt structure with which the club were bought but there is no reason it can’t be a viable business. If the move to Coventry hadn’t taken place in 2014 then the administrators might have been called in a few years ago.'

They're definitely going to play the Covid card when they go into admin then.
Click to expand...
He's just repeating what he's been told to say
 
Reactions: duffer

chiefdave

Well-Known Member
  • Sep 25, 2022
  • #6,941
MusicDating said:
More from Dallaglio in today's Sunday Times -

'I can’t comment on Worcester but I will say that I expect Wasps to find a way out of their predicament. The situation is a bit different from that of the Warriors, given there are other enterprises — all equally badly affected by the loss of revenue brought on by Covid — that are folded into the same business as the Wasps rugby club. It’s complicated because of the debt structure with which the club were bought but there is no reason it can’t be a viable business. If the move to Coventry hadn’t taken place in 2014 then the administrators might have been called in a few years ago.'

They're definitely going to play the Covid card when they go into admin then.
Click to expand...
Not sure anyone is going to believe the guy that only a few days before they stated an intention to go into administration said everything was fine and there was definitely no problems with the finances.
 
Reactions: duffer

Nick

Administrator
  • Sep 25, 2022
  • #6,942
chiefdave said:
Not sure anyone is going to believe the guy that only a few days before they stated an intention to go into administration said everything was fine and there was definitely no problems with the finances.
Click to expand...
Their fans do
 
Reactions: AOM and duffer

chiefdave

Well-Known Member
  • Sep 25, 2022
  • #6,943
Nick said:
Their fans do
Click to expand...
At this stage I think the club could be shut down and cease to exist and the fans would still be saying everything was fine
 
Reactions: AOM

Gynnsthetonic

Well-Known Member
  • Sep 25, 2022
  • #6,944
chiefdave said:
At this stage I think the club could be shut down and cease to exist and the fans would still be saying everything was fine
Click to expand...

 
Reactions: MacReady and AOM

Alan Dugdales Moustache

Well-Known Member
  • Sep 25, 2022
  • #6,945
Anyone know what wasps' home attendances are so far this season, if any ?
 

MalcSB

Well-Known Member
  • Sep 25, 2022
  • #6,946
Alan Dugdales Moustache said:
Anyone know what wasps' home attendances are so far this season, if any ?
Click to expand...
Only one Prem home game, 6878. 8th highest out of 13.
 

MalcSB

Well-Known Member
  • Sep 25, 2022
  • #6,947
Nick said:
Their fans do
Click to expand...
Not all of them.
 

Kneeza

Well-Known Member
  • Sep 26, 2022
  • #6,948
Worcester have basically been shut down now, with staff being locked out, including the caretaker and wife being evicted from their apartment within the ground, and the men's and women's teams effectively barred from competition.
Not Wasps, I know, but a poor reflection on the state of top-flight rugby.
 
Reactions: vow, ccfcchris and duffer

Earlsdon_Skyblue1

Well-Known Member
  • Sep 26, 2022
  • #6,949
Kneeza said:
Worcester have basically been shut down now, with staff being locked out, including the caretaker and wife being evicted from their apartment within the ground, and the men's and women's teams effectively barred from competition.
Not Wasps, I know, but a poor reflection on the state of top-flight rugby.
Click to expand...

The same thing needs to happen to Wasps next. I would love to see them locked out of the CBS and a photo of all the ring leaders stood there in the rain wondering what the hell is going on.
 
Reactions: Sick Boy, TomRad85, torchomatic and 1 other person

chiefdave

Well-Known Member
  • Sep 26, 2022
  • #6,950
Earlsdon_Skyblue1 said:
The same thing needs to happen to Wasps next. I would love to see them locked out of the CBS and a photo of all the ring leaders stood there in the rain wondering what the hell is going on.
Click to expand...
According to a colleague who is a rugby nut the issue the RFU have with Worcester is that the business is split into multiple companies and assets that you'd expect to be under the ownership of the rugby club have been moved out of the group to other owners, sound familiar?
 
Reactions: ccfcchris, torchomatic, Peter Billing and 5 others

Grendel

Well-Known Member
  • Sep 26, 2022
  • #6,951
chiefdave said:
According to a colleague who is a rugby nut the issue the RFU have with Worcester is that the business is split into multiple companies and assets that you'd expect to be under the ownership of the rugby club have been moved out of the group to other owners, sound familiar?
Click to expand...

I don’t think it’s that - it’s a multitude of issues
 

jordan210

Well-Known Member
  • Sep 27, 2022
  • #6,952
When's the next bond payment due ?
 

SBAndy

Well-Known Member
  • Sep 27, 2022
  • #6,953
jordan210 said:
When's the next bond payment due ?
Click to expand...

Interest payment theoretically due 13th November.
 
Reactions: jordan210 and duffer

MusicDating

Euro 2016 Prediction League Champion!!
  • Sep 27, 2022
  • #6,954
SBAndy said:
Interest payment theoretically due 13th November.
Click to expand...
I suspect it'll get decided one way or another before then.
 

LastGarrison

Well-Known Member
  • Sep 27, 2022
  • #6,955
I have a confession to make.

I have just checked the BBC website in the hope that a Leicester team have won a match {shudder} and they have.
 
Reactions: duffer and pipkin73

chiefdave

Well-Known Member
  • Sep 28, 2022
  • #6,956
Probably not the best time to be trying to borrow £35m plus off someone or find an investor
 
O

oldfiver

Well-Known Member
  • Sep 28, 2022
  • #6,957
chiefdave said:
Probably not the best time to be trying to borrow £35m plus off someone or find an investor
Click to expand...

Unless overseas investor
 

Gynnsthetonic

Well-Known Member
  • Sep 28, 2022
  • #6,958
It's been week now issuing their intent to go into administration
 

Houchens Head

Fairly well known member from Malvern
  • Sep 28, 2022
  • #6,959
jordan210 said:
When's the next bond payment due ?
Click to expand...
They're bringing in Daniel Craig?? Jeez!!
 
Reactions: Hutch11

MusicDating

Euro 2016 Prediction League Champion!!
  • Sep 28, 2022
  • #6,960
Wasps Bondholders Association
 
Reactions: duffer

duffer

Well-Known Member
  • Sep 28, 2022
  • #6,961
MusicDating said:
Wasps Bondholders Association
Click to expand...

To use a technical term, I think they're getting their shit together!

Rightly so too; regardless of opinions about Wasps, the bondholders have been treated poorly by the club. The trustee also seems remarkably casual about supporting their best interests, as will any Administrator paid for by Wasps, I'd imagine...
 
Reactions: torchomatic and MusicDating
C

CCFC54321

Well-Known Member
  • Sep 30, 2022
  • #6,962
 

Nick

Administrator
  • Sep 30, 2022
  • #6,963
"Elite", is that like the "buzz" word for Wasps promotion?
 
Reactions: TomRad85, CCFC54321 and duffer

MalcSB

Well-Known Member
  • Sep 30, 2022
  • #6,964
duffer said:
To use a technical term, I think they're getting their shit together!

Rightly so too; regardless of opinions about Wasps, the bondholders have been treated poorly by the club. The trustee also seems remarkably casual about supporting their best interests, as will any Administrator paid for by Wasps, I'd imagine...
Click to expand...
I think they were getting their shit together, but have now dropped it down the pan.
 

shepardo01

Well-Known Member
  • Sep 30, 2022
  • #6,965
MalcSB said:
I think they were getting their shit together, but have now dropped it down the pan.
Click to expand...
What makes you say that Malc?
 
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