Wasps downward spiral... (5 Viewers)

Deleted member 5849 · Feb 14, 2023

Fingers crossed for the right result.

napolimp · Feb 15, 2023

The RFU can confirm, following yesterday’s deadline related to Championship applications, that Wasps has met the conditions and will have a place in next season’s Championship. Rugby Football Union (@RFU)

napolimp · Feb 15, 2023

"Payment of rugby creditors is an integral part of our insolvency regulations, and we cannot approve the takeover of a club without agreement that rugby creditor payments will be made.

I'm sure that gives all the local businesses Wasps stiffed a warm, fuzzy, feeling inside.

Grendel · Feb 15, 2023

napolimp said:
"Payment of rugby creditors is an integral part of our insolvency regulations, and we cannot approve the takeover of a club without agreement that rugby creditor payments will be made.

I'm sure that gives all the local businesses Wasps stiffed a warm, fuzzy, feeling inside.

The same applies to football as well

Terry Gibson's perm · Feb 15, 2023

Grendel said:
The same applies to football as well

That would be what they would say but it doesn’t make it right in either case.

ccfc922 · Feb 15, 2023

napolimp said:
"Payment of rugby creditors is an integral part of our insolvency regulations, and we cannot approve the takeover of a club without agreement that rugby creditor payments will be made.

I'm sure that gives all the local businesses Wasps stiffed a warm, fuzzy, feeling inside.

So does that mean they'll back pay the rugby related debts but not pay debts owed to outside businesses etc?

Or have they got a clean slate owing nothing?

Sky Blue Harry H · Feb 16, 2023

ccfc922 said:
So does that mean they'll back pay the rugby related debts but not pay debts owed to outside businesses etc?

Or have they got a clean slate owing nothing?

They owe CCFC don't they?

On a side note, I find it galling that the CET website has a link to Wasps RFC, yet has nothing to Coventry RFC, who are our local club and now in the same league as those shysters. Time to update the website?

Kneeza · Feb 16, 2023

Sky Blue Harry H said:
They owe CCFC don't they?

On a side note, I find it galling that the CET website has a link to Wasps RFC, yet has nothing to Coventry RFC, who are our local club and now in the same league as those shysters. Time to update the website?

Good luck with that.

Sky Blue Pete · Feb 16, 2023

Kneeza said:
Good luck with that.

They haven’t got any players or a ground have they?

Kneeza · Feb 16, 2023

Sky Blue Pete said:
They haven’t got any players or a ground have they?

Not that we've been told, no.

shepardo01 · Feb 16, 2023

Kneeza said:
Not that we've been told, no.

They still have their training ground, which isn't their training ground .... which really is their training ground!....

.....and they have the hypocrisy to continue to refer to Saracens as "the cheats" on their forum....

Nick · Feb 16, 2023

It is quite funny how they say "The cheats" after they have literally gone bust from doing the same thing.

Nick · Feb 18, 2023

Confirmed in Worcester but cwr were still wanking over it. Give it up.

chiefdave · Feb 18, 2023

Nick said:
Confirmed in Worcester but cwr were still wanking over it. Give it up.

They've gone full on Tim Fisher. Its a short term deal 'aligned to allow them to build new home'

Also sounds like there's a clause that if the new Worcester team get prompted to the championship Wasps are out

chiefdave · Feb 18, 2023

jordan210 · Feb 18, 2023

If they have no stadium how can RFU even take them seriously

Paul Anthony · Feb 18, 2023

So, all of a sudden Wasps think they're going to be building their own ground? I don't buy it.

shepardo01 · Feb 18, 2023

Somebody on Worcester forum saying "Wasps 2 are not responsible for any of Wasps 1's repayment of debt," and only have Championship entry fee to initially worry about.
If true, another disgrace!

shepardo01 · Feb 18, 2023

.........
Re: Questions to be answered
Posted by: A38 (IP Logged)
Date: 18 February, 2023 08:47

Wasps 2 will not have to pay any of Wasps 1's creditors including their DCMS Covid loan.

That said, to get entry into the Championship , they have to pay the "fee" - the rugby creditors need settling.

And when they take on the tenancy at Sixways they will, as you say, have a hefty rent to pay as Atlas will need all of it to cover the servicing costs of their Covid loan.

How much all that adds up to I don't know - but it be a significant amount of initial outlay.

Re: Questions to be answered
Posted by: Faithful_City (IP Logged)
Date: 18 February, 2023 09:11

What about the bond holders or has that £30million disappeared as well?

Tigers £1million annually to DCMS will be massively reduced fr us as we have paid a large amount off from the sale of the "P Share"

JP

Re: Questions to be answered
Posted by: A38 (IP Logged)
Date: 18 February, 2023 09:55

I don't know anything about the bond situation or what security there was for it but that would be for the Administrator of Wasps 1 to deal with. Wasps 2 will not be responsible.

In very round figures the original DCMS loan was I think £16m to which interest will have to be added.

If we say that the P shares realised, give or take, half of that there still remains a whopping loan outstanding.

Re: Questions to be answered
Posted by: Abmatt (IP Logged)
Date: 18 February, 2023 10:04

I’m sure I read somewhere early on that the bond would not be repaid.

HuckerbyDublinWhelan · Feb 18, 2023

Ffs they’re gonna take our pie in the sky stadium at warwick now ain’t they

tisza · Feb 18, 2023

Rugby a mess. Leicester (Supposed biggest club in English rugby) needs a 13 million owners cash injection to stave off admin apparently. Supposedly loss of 2 home games made all the difference

wingy · Feb 18, 2023

tisza said:
Rugby a mess. Leicester (Supposed biggest club in English rugby) needs a 13 million owners cash injection to stave off admin apparently. Supposedly loss of 2 home games made all the difference .

Sure a local derby against an 70/80's giant would do them.

Sky Blue Pete · Feb 18, 2023

Nick said:
Confirmed in Worcester but cwr were still wanking over it. Give it up.

Why do cwr give a shit?

AndreasB · Feb 19, 2023

Actually Clive couldn’t have sounded more embarrassed reading out the Wasps Sixways news at half time. “In case some people are interested” and then moved on very quickly. Would have thought that Wasps being outside CWR broadcast area solves a problem for the station and won’t need to provide any coverage.

Sent from my iPhone using Tapatalk

CCFC54321 · Feb 19, 2023

Cwr and the Cov telegraph need to stop the reporting on the shit bags and remove and banners or links to them asap.

AOM · Feb 19, 2023

AndreasB said:
Actually Clive couldn’t have sounded more embarrassed reading out the Wasps Sixways news at half time. “In case some people are interested” and then moved on very quickly. Would have thought that Wasps being outside CWR broadcast area solves a problem for the station and won’t need to provide any coverage.

Sent from my iPhone using Tapatalk

Someone messaged into the phone in on Friday asking if CWR would still be covering Wasps and Clive kinda skirted around it and pretty much just said they covered only local sports teams so "I'll let you decide..." or something along those lines.

Think they'll just just being amicable and will move on once Wasps are officially based elsewhere

Grendel · Feb 19, 2023

AOM said:
Someone messaged into the phone in on Friday asking if CWR would still be covering Wasps and Clive kinda skirted around it and pretty much just said they covered only local sports teams so "I'll let you decide..." or something along those lines.

Think they'll just just being amicable and will move on once Wasps are officially based e elsewhere

depends where they play

Flying Fokker · Feb 19, 2023

Paul Anthony said:
So, all of a sudden Wasps think they're going to be building their own ground? I don't buy it.

SISU involved?

Paul Anthony · Feb 19, 2023

Flying Fokker said:
SISU involved?

What a plot twist that would be!

Kneeza · Feb 19, 2023

Shugs still being Wasps' greatest ambassador.
(Worcester forum)

Worcester Warriors - Think the unthinkable

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m.rugbynetwork.net

FFS.

tisza · Feb 19, 2023

Kneeza said:
Shugs still being Wasps' greatest ambassador.
(Worcester forum)

Worcester Warriors - Think the unthinkable

Worcester Warriors discussion board : Unofficial Worcester Warriors news and views

m.rugbynetwork.net

FFS.

Some of it is cut and paste of his comments about CBS,SISU and CCFC

HuckerbyDublinWhelan · Feb 21, 2023

Kneeza said:
Shugs still being Wasps' greatest ambassador.
(Worcester forum)

Worcester Warriors - Think the unthinkable

Worcester Warriors discussion board : Unofficial Worcester Warriors news and views

m.rugbynetwork.net

FFS.

I really love that they’re already discussing how their presence will be beneficial to Worcester.

just like how they were beneficial to QPR, Wycombe and us…. Ohhh and Solihull. They’re a fucking right arrogant bunch

Brighton Sky Blue · Feb 21, 2023

They resemble the actual insect so well. And are somehow less popular

AOM · Feb 21, 2023

HuckerbyDublinWhelan said:
I really love that they’re already discussing how their presence will be beneficial to Worcester.

just like how they were beneficial to QPR, Wycombe and us…. Ohhh and Solihull. They’re a fucking right arrogant bunch

Comes to mind in terms of the benefits they give their hosts

Nick · Feb 21, 2023

HuckerbyDublinWhelan said:
I really love that they’re already discussing how their presence will be beneficial to Worcester.

just like how they were beneficial to QPR, Wycombe and us…. Ohhh and Solihull. They’re a fucking right arrogant bunch

They seem oblivious to how many companies they fucked over.

Wasps downward spiral... (5 Viewers)

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