Gynnsthetonic
Well-Known Member
We'd be back at Sq1 though, the council with a stadium that Sisu won't pay for, Wasps didn't buy it really did they though, they just mortgaged it to pay off the councils loan if I'm correct.
Two?!Mate you should get back on the wasps forum - the other two posters need you
But that isn't going to happen is it?of course this all goes away if they start getting decent crowds of paying customers which then gives them a secure foothold in the city, which none of us want.
Nibble nibble
But that isn't going to happen is it?
Wasps could trundle along for longer than that is my worry if they refinance the bonds, Owning Wasps is Derek Richardsons hobby and if he's prepared to lose millions every year what can anyone do about itWe all know the end game here by SISU. They are simply waiting for London wasps to go under in the next couple of years and then attempt to pick up the stadium as we all know that nobody else or any other franchise will touch it. CCFC are and will be the only game in town that will take on the stadium.
We all know the end game here by SISU. They are simply waiting for London wasps to go under in the next couple of years and then attempt to pick up the stadium as we all know that nobody else or any other franchise will touch it. CCFC are and will be the only game in town that will take on the stadium.
Richardson isn't the mega billionaire that people think he is. Funding this pile of shite can’t carry on forever. I don’t see what’s in it for him or his family at all. When Richardson eventually says times up or sadly passes away then they are absolutely finished?Wasps could trundle along for longer than that is my worry if they refinance the bonds, Owning Wasps is Derek Richardsons hobby and if he's prepared to lose millions every year what can anyone do about it
We all know the end game here by SISU. They are simply waiting for London wasps to go under in the next couple of years and then attempt to pick up the stadium as we all know that nobody else or any other franchise will touch it. CCFC are and will be the only game in town that will take on the stadium.
You love being controversial don’t you?that’s just rubbish
Richardson isn't the mega billionaire that people think he is. Funding this pile of shite can’t carry on forever. I don’t see what’s in it for him or his family at all. When Richardson eventually says times up or sadly passes away then they are absolutely finished?
Richardson isn't the mega billionaire that people think he is. Funding this pile of shite can’t carry on forever. I don’t see what’s in it for him or his family at all. When Richardson eventually says times up or sadly passes away then they are absolutely finished?
You love being controversial don’t you?
Fuck off and stop falling with out with everyone princess it’s boring. Discuss and influence people on this chat room, even people like myself. Call me this and that but I’ve read some of the some of the stuff you argue with other posters and I just think why? Just debate and influence for once.even more rubbish
It’s not what this bloke thinks
Fuck off and stop falling with out with everyone princess it’s boring. Discuss and influence people on this chat room, even people like myself. Call me this and that but I’ve read some of the some of the stuff you argue with other posters and I just think why? Just debate and influence for once.
Educate us then instead of rowing all the time then!Ok what’s the actual wording then in the case of insolvency?
Educate us then instead of rowing all the time then!
Grendel how many people use your account because you change your mind like the wind, for years you have been going over to drunken wasps telling them that if they default on the debt the lease goes back to the council, now all of a sudden it’s changed. You said the only reason Richardson got wasps was so he could get the stadium on the cheap as he is a “property developer at hart” and if wasps go bust that means Coventry will why? In that case Richardson would have a break even stadium without a loss making wasps.
I was replying to the message “The notion it reverts to the council is a myth” when you’ve been saying the opposite for yearsI haven’t changed by opinion see comment 18 months ago?
Could this be good news for us to return to the Ricoh?
Very good news, hopefully they fuck off asap and we’re back at the Ricoh within weekswww.skybluestalk.co.uk
Obviously “defaulting on the debt” means no refunding in reality. The point is if they do refund then it’s obvious the whole group won’t be liquidated
The default position is return to the council but Richardson will separate the businesses if he has to.
It’s a disaster in reality if they did go under as we would never afford stadium operating costs
It won’t happen now though will it? The lease will remain valued as such even with our sub tenancy I would have thought - I’ve said on there site they will in all probability get refunding and probably more on a mortgage basis which has obvious benefits
the default condition is vague but the ultimate owners would have a say - Sisu aren’t buying the lease that’s for certain
I was replying to the message “The notion it reverts to the council is a myth” when you’ve been saying the opposite for yearsView attachment 23540View attachment 23541View attachment 23542View attachment 23543View attachment 23544View attachment 23545View attachment 23546View attachment 23547View attachment 23548View attachment 23549
Wasps going bust isn't the issue is it, isn't the stadium lease held by another company in the group so unless the whole group goes bust the ownership of the lease won't change and our current agreement will remain valid.
Is it not more likely that, if they were in that much trouble and desperately needed money or Richardson wanted to get some of his money back, they look to sell the company holding the lease or the lease itself. Not sure that anyone who took over a stadium would want to kick out a football club getting 20K turning up every week.
To be fair it's what everyone was saying before the franchise arrived.You love being controversial don’t you?
To be fair it's what everyone was saying before the franchise arrived.
I disagree. For personal gratfication, I’d love to see them go bust, so their presence no longer taints the cityThere seems to be a notion on here that wasps are going to go under.
There seems to be no indication of that anyway. As long as the funding is in place next year it will be pretty much secured due to the length of lease. I assume a mortgage would allow some capital repaid as well.
The view is it will revert back to the Council and we will grab it as that is the default position if ACL went bust. The valuation of the lease remains comfortably in the realms of allowing the them I would think to borrow funds. If the fall down scenario did happen then I cannot see in reality how that would benefit us at all anyway given the relationship and a tiny lease. It would make us highly vulnerable.
The irony is our returned presence will in all likelihood strengthen the valuation and offer security to the Wasps group of companies. No one knows what we are paying but it would be interesting to know as my suspicion is it will be very little different to the original lease charge we broke (though
Wasps I do not see going anywhere. It may be failed in terms of its objective of taking supporters in the area and its grandiose claims of being the biggest club on the planet are not much better than our notion we are building a new stadium. I suspect it will look to reduce wages further on the Rugby side to balance costs as best it can
Wasps going under is of zero benefit to us.
They are still making massive losses to around 10m a year, if Richardson is prepared to keep bailing them out he's going to run out of money sooner or laterThere seems to be a notion on here that wasps are going to go under.
There seems to be no indication of that anyway. As long as the funding is in place next year it will be pretty much secured due to the length of lease. I assume a mortgage would allow some capital repaid as well.
The view is it will revert back to the Council and we will grab it as that is the default position if ACL went bust. The valuation of the lease remains comfortably in the realms of allowing the them I would think to borrow funds. If the fall down scenario did happen then I cannot see in reality how that would benefit us at all anyway given the relationship and a tiny lease. It would make us highly vulnerable.
The irony is our returned presence will in all likelihood strengthen the valuation and offer security to the Wasps group of companies. No one knows what we are paying but it would be interesting to know as my suspicion is it will be very little different to the original lease charge we broke (though
Wasps I do not see going anywhere. It may be failed in terms of its objective of taking supporters in the area and its grandiose claims of being the biggest club on the planet are not much better than our notion we are building a new stadium. I suspect it will look to reduce wages further on the Rugby side to balance costs as best it can
Wasps going under is of zero benefit to us.
They are still making massive losses to around 10m a year, if Richardson is prepared to keep bailing them out he's going to run out of money sooner or later
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