Brighton Sky Blue
Well-Known Member
Agreed it's just an unwanted necessity.
Yes, I agree it's just the thought of giving them any financial help sticks in the throat. Being realistic a deal will have to be done.
Looks like the Prem rugby has massively shot themselves in a foot. As they rejected a 30% increase in TV rights in Jan from BT and Sky got wind and offered less than current contract.
Doesn't look like anything has been agreed. But im guessing BT sport won't pay more than they are now. With the value of some sports dropping drematicly due to CV19.
Had this argument with Italia when he used to spin the Wasps line that Premiership rugby had the potential to be as big a brand as Premier League football. Remember looking up the figures and in one appearance on Sky we had more viewers than every Wasps game combined.Looks like the Prem rugby has massively shot themselves in a foot. As they rejected a 30% increase in TV rights in Jan from BT and Sky got wind and offered less than current contract.
Doesn't look like anything has been agreed. But im guessing BT sport won't pay more than they are now. With the value of some sports dropping drematicly due to CV19.
The sticking point in an exit strategy will be the bond. Is it known what they actually spent it on?They need a exit strategy quick as we all know where this will end up. If they haven’t got one or don’t think they need one then fine.... I hope they haven’t. Just feel for the genuine London supporters in all this when their club finally goes Into liquidation.
They said they were using the bond money to pay the interest on the bond, at 6.5% a year that's £16m to start off with. Add in paying Richardson back and paying the council loan off and that's the bond money gone.About £10m of it went to the owner to pay off debts.
It also paid off the purchase and the pay off and the council loan didn't it?
They said they were using the bond money to pay the interest on the bond, at 6.5% a year that's £16m to start off with. Add in paying Richardson back and paying the council loan off and that's the bond money gone.
Next time round they will have years of actual trading history rather than just being able to claim that putting together a loss making Wasps and a loss making ACL was going to create a profitable company. Crowds in freefall, smaller share of central payments thanks to sale to CVC, central payments pot smaller anyway thanks to decreased value of TV contract, conference & exhibition business struggling thanks to covid-19. All while we are likely to be in the biggest recession in living memory. Doesn't sound an attractive investment to me.
Italia will buy loads to help his beloved wasps, I miss his madness sometimes
They said they were using the bond money to pay the interest on the bond, at 6.5% a year that's £16m to start off with. Add in paying Richardson back and paying the council loan off and that's the bond money gone.
Next time round they will have years of actual trading history rather than just being able to claim that putting together a loss making Wasps and a loss making ACL was going to create a profitable company. Crowds in freefall, smaller share of central payments thanks to sale to CVC, central payments pot smaller anyway thanks to decreased value of TV contract, conference & exhibition business struggling thanks to covid-19. All while we are likely to be in the biggest recession in living memory. Doesn't sound an attractive investment to me.
So that's £3.5m on interest, £10m to Richardson, £13.4m to repay the council loan. Whats the other £8m gone on, covering losses?The Interest Bond only covered the first 3 payments
Have you included the purchase of £5.5MSo that's £3.5m on interest, £10m to Richardson, £13.4m to repay the council loan. Whats the other £8m gone on, covering losses?
On the face of it seems they've taken out what is essentially a loan for £35m and having spent it all have nothing much to show for it.
Have you included the purchase of £5.5M
Plus the bond interest is£2.5M per annum?
So that's £3.5m on interest, £10m to Richardson, £13.4m to repay the council loan. Whats the other £8m gone on, covering losses?
On the face of it seems they've taken out what is essentially a loan for £35m and having spent it all have nothing much to show for it.
Keep saying this. Club rugby overrates its appeal to large audiences.Had this argument with Italia when he used to spin the Wasps line that Premiership rugby had the potential to be as big a brand as Premier League football. Remember looking up the figures and in one appearance on Sky we had more viewers than every Wasps game combined.
Someone on here made the comparison to cricket recently. International cricket is popular but that does flow down to the county game, same seems to happen in rugby. I would class myself as a cricket fan but besides international players I would struggle to name more than a handful of county cricketers.
Keep saying this. Club rugby overrates its appeal to large audiences.
Were there matchdays this season where we got a bigger crowd than them? I'm fairly certain it happened at least once.
Only Wasps can make it sound like they should be praised for cancelled events.The Group's management had prepared for the possibility of lockdown and therefore was able to implement its closedown plan effectively and efficiently.
Needs super spinning Nick... takes time!!..... although some things can just not be "spun" so may just fall by the wayside.... a la "Director/coke/brothel-gate"Telegraph not mentioned it?
Have the Killers been officially cancelled yet?Only Wasps can make it sound like they should be praised for cancelled events.
Telegraph not mentioned it?
What are the remedies for breaking a bond covenant?Not mentioned on Drunken Wasps?
Can they change the terms like last timeWhat are the remedies for breaking a bond covenant?
In the circumstances, it is as positive as it can be. I think Derek and Stephen have to be congratulated.
Bond holders have to agree. From what I was told when they last breached them it is usual for the bond holders to request something in return, for example an increased interest rate, they could also refuse to the change which would presumably be more serious.Can they change the terms like last time
Yeah moved to a Saturday next year I’m July (I think).Have the Killers been officially cancelled yet?
Bond holders have to agree. From what I was told when they last breached them it is usual for the bond holders to request something in return, for example an increased interest rate, they could also refuse to the change which would presumably be more serious.
According to the person I spoke to the way it was waved through last time led him to believe most of the bonds were owned by fans. He said regular investors wouldn't act that way.
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