For those interested this is the link to the stock exchange summary of the Wasps Holdings 2016 financials
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/WAS1/13018904.html
There is also a link to the full accounts here
http://www.wasps.co.uk/docs/default-source/Bonds/wasps-financial-results-2016.pdf?sfvrsn=4
· Railway station open and operating for match days
Not huge losses on that turnover though, are they?
They were supposed to have a revaluation of the Arena this year but have relied on a Management valuation instead. It happens to be the same as last year!
Moonstone Holdings Debt of £9m seems to have been replaced by Richardson?
£17.5m in wages over 216 employees (57 players) at an average of £80.6k
3 directors renumeration £905k,
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£14.5m in admin fees, not sure what thats about.Losing money and paying management fees? Who would have thought it!
£2.3m interest on the retail bond - not sure if that's full year or not, think it was only issued about a year ago wasn't it?
(This isn't a complaint) but very little mention of CCFC in the accounts, wonder if next year would mention any potential impact of no long term agreement with CCFC. It's a loss of 23 event days a year out of 139 (though I am not quite sure what the methodology is for calculating event days).
And people think that wasps will want to buy a football club who needs significant finance in order to get up and stay up in the championship.
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Still losses though. What a shame
The Valuation is future income based and your note would have to be considered in a longer term view - as would the lack of a long agreement for naming rights
Is the naming rights that much of an issue? Or was it mentioned in the bond prospectus?
Can't pretend I understand but as Stu mentioned £14.5M admin fees?If I'm honest I'd fully expect them to run at a loss for this set of accounts, maybe one or two more.
The bigger question is whether they can turn that around with their strategy, in time.
According to Italia JLR are champing at the bit and it's only ccfc and the legal dispute that's preventing them signing.
Food and drink expenses of £5.6mil seems *enormous*
Is that indicative of the Compass deal?Food and drink expenses of £5.6mil seems *enormous*
The year before it was nearly £4mil.Is that indicative of the Compass deal?
If so wasn't there a rumour on here that they'd bought a larger stake in IEC?
If I'm honest I'd fully expect them to run at a loss for this set of accounts, maybe one or two more.
The bigger question is whether they can turn that around with their strategy, in time.
Equally one underperforming event could cause issues. When we talk about losing our income we shouldn't just assume they can grab another event and it will automatically be successful.One decent concert could cover everything we contribute over a whole season and more.
Equally one underperforming event could cause issues. When we talk about losing our income we shouldn't just assume they can grab another event and it will automatically be successful.
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