Wasps

Briles

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Aug 8, 2017
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Interesting in depth article regarding their situation. I think they genuinely could fold

 

shepardo01

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Jul 16, 2011
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Interesting in depth article regarding their situation. I think they genuinely could fold

Mate works "in the city" and restructures/shuts down struggling businesses. He's done some big ones including football administration.
Here's what he said,
"It’s not good for wasps but not the end of the road either. Usually ends with a restructuring of the debt and everyone carries on rather than complete collapse but who knows. I’ll see what I can find out!!!"
 

PUSB-We_are_going_up

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Jun 5, 2020
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I fucking hope so Briles. Hate them boring cunts, I would never wish any club of any sport to fold, other than these piss pots, everything about them I fucking hate. We should look to get our own stadium and sue them for all they’re worth
 

PUSB-We_are_going_up

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Jun 5, 2020
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I hope Joy gets as many handbags as she wants out of the money made from suing them, every penny to go on her collection and I wouldn’t care if they died, she would be a hero in my eyes (for a day or two)
 

Hobo

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May 13, 2013
11,199
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Coventry
The people who bought bonds should have known they were high risk.

The bonds holders are annoyed because of the way Wasps have handled the situation in recent months and have left them between a rock and a hard place. They will probably just have to accept whatever....

It has certainly damaged Wasps reputation. Hence them finding it hard to refinance the package. I dont think it will send them under. But they are going to have to restructure and sell off assests. Their last set of accounts recognised that if the bonds could not be refinanced.

They are heading into a very tough time and a lot of uncertainty
 

chiefdave

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Sep 27, 2008
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The people who bought bonds should have known they were high risk.
They should have but a suspect a decent percentage were sold to supporters who didn’t really know what they were getting into and fell for the richest and most successful club in the world stuff. Wouldn’t have crossed their minds they could get to this stage and have no way of getting their money out.
 

Samo

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Jul 6, 2012
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Mate works "in the city" and restructures/shuts down struggling businesses. He's done some big ones including football administration.
Here's what he said,
"It’s not good for wasps but not the end of the road either. Usually ends with a restructuring of the debt and everyone carries on rather than complete collapse but who knows. I’ll see what I can find out!!!"
Wait a second... don't SISU buy struggling businesses?
 

CCFCSteve

Well-Known Member
Aug 11, 2011
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The people who bought bonds should have known they were high risk.

The bonds holders are annoyed because of the way Wasps have handled the situation in recent months and have left them between a rock and a hard place. They will probably just have to accept whatever....

It has certainly damaged Wasps reputation. Hence them finding it hard to refinance the package. I dont think it will send them under. But they are going to have to restructure and sell off assests. Their last set of accounts recognised that if the bonds could not be refinanced.

They are heading into a very tough time and a lot of uncertainty
To be fair to bondholders I presume most invested believing that even if the rugby club didn’t remain viable, the stadium was of sufficient value to more than cover the outstanding bonds and/or enable a refinance. I’m not sure it is
 

Hiraeth

Well-Known Member
Jun 12, 2019
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To be fair to bondholders I presume most invested believing that even if the rugby club didn’t remain viable, the stadium was of sufficient value to more than cover the outstanding bonds and/or enable a refinance. I’m not sure it is
Won't the stadium have sufficient value now that the South Pavilion Entrance renovation has been completed for the Commonwealth Games?

Hangabouts, the South Pavilion Entrance renovation for which Wasps received government grant funding was completed, wasn't it?
 
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slowpoke

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Apr 24, 2015
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Not sure how this will end, I think Wasps selling the Arena to a third party is a possibility they then might move elsewhere Alexander Stadium Birmingham perhaps that would be good riddance but they won’t sell to sisu and we, ccfc will be piggy in the middle unfortunately.
 

Hobo

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May 13, 2013
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Coventry
To be fair to bondholders I presume most invested believing that even if the rugby club didn’t remain viable, the stadium was of sufficient value to more than cover the outstanding bonds and/or enable a refinance. I’m not sure it is
They might have assumed that? But the value of the stadium is only part of the equation. The are entering a high risk investment, hence the above average interest rate. Like stocks and shares they can go up and down in value.

Fans would be stupid to put their money in without seeking proper financial advice. Wasps history of financial losses were well documented before this scheme and should have been taken into consideration when evaluating the risk. You would be really stupid to just assume goodwill.

Investing in this type of scheme to try and win a higher than average return should be part of a spread of investments with a lower risk to try and ensure you don't lose money.
 
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Happy_Martian

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Jan 1, 2013
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Wait a second... don't SISU buy struggling businesses?

Not sure how this will end, I think Wasps selling the Arena to a third party is a possibility they then might move elsewhere Alexander Stadium Birmingham perhaps that would be good riddance but they won’t sell to sisu and we, ccfc will be piggy in the middle unfortunately.
There is an easy out for this problem. We do a Robert Jarni on them. They won't sell to us so get a third party to offer the stadium valuation + 10% to get the asset. Then a week later, SiSu pops up and buys from the third party. Overson likes throwing his money and name around so surely he could organise a consortium to buy ?