Wasps downward spiral... (6 Viewers)

Nick

Administrator
Think his logic is it shows Robinson is there for the long haul. Not sure why that would convince you to invest 25 grand though.
Its a separate company from wasps completely, doesn't mean he's in wasps for the long haul.
 

CCFC54321

Well-Known Member
Why would you invest in bonds that isn't relevant to the hotel.

I know we have some deluded fans but they have a lot more.


Has anyone seen the training ground application amount of objections

Around about 165 comments with less than 5 on wasps side (with most being from out of area people)

I don't think the public option of wasps is positive as some would think



So have wasps been telling fans to support the application.
Do you have a link(s)?
 

jordan210

Well-Known Member
Not sure if anyone saw this quote as wasn't on the Coventry Live article about the Ricoh hotel.

Councillor Jim O’Boyle, cabinet member for jobs and regeneration, added: “This is great news. A hotel has always been part of the wider plan for the whole development, so I’m glad to see this progress. I’m sure it will enable the team to secure even more brilliant events at the Ricoh and of course it will create new jobs for local people.”
 

Liquid Gold

Well-Known Member
Richardson will pay them, he has enough money to cover all of the interest payments. Not the £35m bulk return and any refinancing they get will be payday loan rates. They're losing obscene money for a Rugby club and without massive investment of the type a premier league club can dream of they're destined to go pop eventually.
 

jordan210

Well-Known Member
I have finally found the planning for the hotel

Coventry City Council: Planning Application Details

Interesting that this image doesn't line up with the plan. As the hotel takes up a lot more of carpark C

http://planning.coventry.gov.uk/portal/servlets/AttachmentShowServlet?ImageName=1522807

0_CGI-of-how-the-hotel-will-fit-in.jpg

Better image of land uses here. Interesting that the road in and out becomes part of the hotels boundary not the carparks

http://planning.coventry.gov.uk/portal/servlets/AttachmentShowServlet?ImageName=1522819
 

Brighton Sky Blue

Well-Known Member
Richardson will pay them, he has enough money to cover all of the interest payments. Not the £35m bulk return and any refinancing they get will be payday loan rates. They're losing obscene money for a Rugby club and without massive investment of the type a premier league club can dream of they're destined to go pop eventually.

Which just means another millionaire can arrive to prop them up
 

Terry Gibson's perm

Well-Known Member
Rugby seems to be a fantastic way to shrink your fortune, if I was this Richardson bloke my wife would be all over for wasting money on this car crash club.
 

Brighton Sky Blue

Well-Known Member
Someone who has £100m in the bank would be dead broke within a decade. All to be the owner of a relegation threatened rugby club and very little hope of turning it around. I don’t see it.

Same could be said for many football clubs in the Championship or even the Prem
 

Liquid Gold

Well-Known Member
Same could be said for many football clubs in the Championship or even the Prem
To nowhere near the same extent, premier league football is guaranteed huge incomes, even if the clubs don't use them properly, and the global exposure is huge. As we can see so many owners use the clubs as branding exercises because they know the power of exposure. Rugby going out ot a few thousand weirdos on BT sport just doesn't have the popularity and in Wasps case they have no hope of ever getting a return. In the Championship you lose £10m a season over 10 years and 1 promotion pays it all back, in Rugby they might get to the Champions Cup final but the money involved barely dents what they're losing.
 
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Brighton Sky Blue

Well-Known Member
To nowhere near the same extent, premier league football is guaranteed huge incomes, even if the clubs don't use them properly, and the global exposure is huge. As we can see so many owners use the clubs as branding exercises because they know the power of exposure. Rugby going out ot a few thousand weirdos on BT sport just doesn't have the popularity and in Wasps case they have no hope of ever getting a return. In the Championship you lose £10m a season over 10 years and 1 promotion pays it all back, in Rugby they might get to the Champions Cup final but the money involved barely dents what they're losing.

And if promotion doesn’t happen the club has gambled its existence. I’m not sticking up for the insects as a viable business but heart rules head in a lot of these cases.
 

Liquid Gold

Well-Known Member
And if promotion doesn’t happen the club has gambled its existence. I’m not sticking up for the insects as a viable business but heart rules head in a lot of these cases.
Yeah but what do they do? They go into administration and tumble down the leagues for a few years, us, Bolton Pompey etc.

In Rugby they just go bust.
 

Grendel

Well-Known Member
Richardson has always been primarily interested in land development
 

Grendel

Well-Known Member
The Ricoh is attached to £35m debts that are impossible to pay back and extremely difficult to refinance. I'm 95% sure that they won't have the stadium come May 2022

It’s actually a lot less than that as some if the debt is the owners loans
 

Brighton Sky Blue

Well-Known Member
The Ricoh is attached to £35m debts that are impossible to pay back and extremely difficult to refinance. I'm 95% sure that they won't have the stadium come May 2022

I hope you’re correct but sneaky suspicion a white knight will arrive as they always seem to for everyone besides us!
 

chiefdave

Well-Known Member
To nowhere near the same extent, premier league football is guaranteed huge incomes, even if the clubs don't use them properly, and the global exposure is huge. As we can see so many owners use the clubs as branding exercises because they know the power of exposure. Rugby going out ot a few thousand weirdos on BT sport just doesn't have the popularity and in Wasps case they have no hope of ever getting a return. In the Championship you lose £10m a season over 10 years and 1 promotion pays it all back, in Rugby they might get to the Champions Cup final but the money involved barely dents what they're losing.
Spot on. This is something Sepalla was correct about in her Sky interview. Wasps are maxed out, despite what they seem to have banked on their league isn't going to suddenly explode to match the Premier League.

Remember looking at the viewing figures when Italia was having one of his rants and one game of ours on Sky got higher viewing figures than all the Wasps games combined. That fact is being hammered home now as they're struggling to sell the TV rights which inevitably means the amount they receive will be a considerably lower than they were expecting.

Rugby has completely failed to learn from football and all the other sports that went before it. Its relatively new in terms of being professional and they had the opportunity to set it up in a way that made it profitable and easily sustained in the long term. Instead they saw pound signs that weren't there.
 

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