Worcester’s woes

[Rugbygramps]

The Tigers' model of running the club as a business (i.e . living within your income) was successful at first but then swiftly overtaken by the "sugar daddy" model which is why the game is in such a pickle. Massive wage inflation, far beyond what the clubs can really bear, is, I believe, the primary reason.

Excuse my ignorance but dont both Worcs and Wasps have Sugar Daddies, if so why are they not paying off these debts, Worcs is only small compared to Wasps?

Wasps sugar daddy is not rich enough to pay it off

Richardson has never been in the mega wealthy bracket. His was more a plan based on investment and bond issues, which has since proved to be a very bad one.

[teds]

I hope this can be resolved although the rumours do not sound encouraging, however, what ever the out come of this, both Wuss and the Wasps situation need investigating and precautions, or a system to help, must be put in place. It seems nothing was learnt from the previous similar problems, of which London Welsh is but one example, rugby is now a business and it has to learn and be run properly.

The Tigers' model of running the club as a business (i.e . living within your income) was successful at first but then swiftly overtaken by the "sugar daddy" model which is why the game is in such a pickle. Massive wage inflation, far beyond what the clubs can really bear, is, I believe, the primary reason.

Excuse my ignorance but dont both Worcs and Wasps have Sugar Daddies, if so why are they not paying off these debts, Worcs is only small compared to Wasps?

I hadn’t realised that Cecil Duckworth, the Worcester owner who built the club up had passed away about 18 months ago. It seems the new owners might not be as committed to the future of the club.

It’s very sad for any business to go under, but particularly for the non playing non coaching staff who simply won’t have the option to stay in work albeit with a massive pay cut at a different club.

[chappie]

Interesting read in the Telegraph today

Premiership considers salary cap exemption to allow Worcester players to join rivals?

[sam16111986]

Interesting read in the Telegraph today

Premiership considers salary cap exemption to allow Worcester players to join rivals?

How many clubs have spare cash though? Most clubs are skint after the Covid nightmare, unless they are going to take the Wuss TV rights and pass those around the clubs still able to fulfill fixtures then it's just clubs with wealthy owners being allowed to reinforce their squads.

[markharbtiger]

Hopefully for the sake of the players, both Worcester and Wasps can find a way forward. But in my opinion it does underline the need for a sufficiently large fan base for a premiership rugby team, and certain teams struggle in this regard.

[sam16111986]

The Times suggesting that the cap won't be increased and that Wuss could avoid a points deduction if they go into administration.

https://www.thetimes.co.uk/article/play ... 53de1935cf

[RagingBull]

Honestly could see a few going to France even just for a season as a medical joker.
Sutherland and DVDM could go back to Scotland

[KUSADASI TIGER]

Worcester now on the verge of administration according to the BBC
https://www.bbc.co.uk/sport/rugby-union/62630861

[sam16111986]

Worcester now on the verge of administration according to the BBC
https://www.bbc.co.uk/sport/rugby-union/62630861

Includes this section.

"The day after Warriors were hit by legal action for unpaid taxes, the directors used another of their companies to purchase the club's car park, for just £50,000.

As well as being directors of WRFC Trading Limited, Colin Goldring and Jason Whittingham are also directors of a number of other companies, including Mq Property Ltd.

On Wednesday, 17 August Mq Property Ltd completed the purchase of the freehold of the club's car park. This was paid for with a loan from another company, Triangle Estate & Petroleum Ltd.

Separately in June, training pitches owned and used by Warriors were sold to a newly-created real estate company, Worcester Capital Investments Ltd, for £350,000.

The car park and pitches are sizeable parts of the Sixways site.

Warriors' accounts for 2020 state that as a whole the site had been independently valued at £16.7m. That estimate includes Sixways stadium; the freehold of which also now belongs to Mq Property Ltd.

Unlike indebted WRFC Trading Ltd, Mq Property Ltd is not known to face a winding-up petition, yet it now owns the bulk of the land the club sits on.

It's unclear whether the £50,000 purchase of the car park was an undervaluation. Its value - and that of the training pitches - will depend on what restrictions are in place on the land, as well as how easy it is to develop.

Warriors' 2020 accounts describe how the planning potential for the Sixways site had been 'significantly improved'."

[kpj tiger]

Ollie Lawrence tweeting out "Cowboys" isn't a good sign in terms of the supposed meetings happening today

[TigerFeetSteve]

Well Ollie Lawrence has just tweeted a emoji

One assumes this is directed at the owners of Worcester...

This is post the players being briefed about the situation..

https://twitter.com/OLawrence1/status/1 ... qtPag&s=19

[RagingBull]

Interesting that Lawrence is big mates with Ashton.

[speedski]

So with the bbc saying other clubs reportedly in trouble too - if this is fan base related..

Newcastle….Sale….anyone else?

[TigerFeetSteve]

So with the bbc saying other clubs reportedly in trouble too - if this is fan base related..

Newcastle….Sale….anyone else?

Think that is based on the fact that TRP stated there were two others close to the edge, one northern club and one west county club (I think it said)

Given Falcons inability to pay England players their match fees in Jan occured after one cancelled game, cashflow in the off season may have worsened, you have to suspect they are tight...

[fentiger]

West Country? Bristol? Surely not Glaws or Barf?