Looks like wasps doing similar things.
https://www.coventrytelegraph.net/news/ ... l-18210094
Another hotel for a rugby club
Moderators: Tigerbeat, Rizzo, Tigers Press Office, Tigers Webmaster
-
johnthegriff
- Super User
- Posts: 2045
- Joined: Sat Dec 20, 2008 12:37 am
Re: Another hotel for a rugby club
The facilities at a rugby ground have to earn their keep on more than about 15 match days a year, hotel and car parking makes existing rooms into practical conference, exhibition or wedding venues. Tigers, Exeter and Wasps are following the same pattern and I expect others that own their own ground will follow suit if they are able.
-
chipnchase
- Gold Member
- Posts: 1227
- Joined: Sat Jul 02, 2005 10:18 am
- Location: Leicestershire, UK
Re: Another hotel for a rugby club
Been on the cards for the last five years, as part of the original plans they wanted to build an ice rink and shopping centre.
-
kk20gb30
- Super User
- Posts: 2896
- Joined: Sun Jan 22, 2017 1:01 pm
- Location: Over The Hills & Far Away
Re: Another hotel for a rugby club
All things considered , makes perfect sense.This type of diversification will become more and more common I believe.
Seemingly heading rapidly toward senility .....Not long or far to go now , in fact, getting worse daily.....
-
GETHIN EXILE
- Senior Member
- Posts: 290
- Joined: Tue Feb 05, 2013 2:27 pm
Re: Another hotel for a rugby club
If Richardson can afford to build this then surely he should have to pay off Wasps existing debts first !!!!!!
Re: Another hotel for a rugby club
And build them a training groundGETHIN EXILE wrote: ↑Mon May 18, 2020 1:15 pm If Richardson can afford to build this then surely he should have to pay off Wasps existing debts first !!!!!!
Re: Another hotel for a rugby club
Important to note this will not benefit Wasps directly.
This is being done by a separate company also owned by Richardson, not Wasps themselves. I personally would be fairly sceptical of such an arrangement.
This is being done by a separate company also owned by Richardson, not Wasps themselves. I personally would be fairly sceptical of such an arrangement.
Goooooodeeeeeyyyyy!
-
johnthegriff
- Super User
- Posts: 2045
- Joined: Sat Dec 20, 2008 12:37 am
Re: Another hotel for a rugby club
Of course if you put a suitable business plan to a bank to borrow money to finance an investment, they examine the feasibility of the plan and agree to lend you the money satisfied that the returns will enable the repayment of the loan. Often once having secured the loan there is no commitment to spend up to that amount on the project or possibly not even continue with the project, of course banks are not stupid so may make the payments in stages as the project develops and may even insist on a representative on the Board to protect their interest,.However it can be useful if a company has to meet a large expenditure for historical debt to borrow more for a current project, and if you owe enough to the bank they really do not want your business to fail as the bank could lose too much!