Wasps in the mire - now in administration

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loretta
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Wasps in the mire - now in administration

Post by loretta »

In my defence, I was left unsupervised….
Hot_Charlie
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Re: Wasps still in the mire

Post by Hot_Charlie »

Yep, it was always a huge gamble.

And in the meantime, they've attracted far fewer fans and customers than hoped or envisaged and lost huge support locally by having made Coventry City play elsewhere for 2 or 3 seasons.

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GB72
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Re: Wasps still in the mire

Post by GB72 »

Will be interesting to see how the finance structure has been negotiated. Much of the reporting today suggests that it is only secured on the 250 year stadium lease. So, can the club default, hand over the keys to to stadium and play on as Wasps at another ground. Would not be surprised of the club and rugby operations were a different company to the stadium lease holders and the ones with the debt.

Not saying it would happen, but if Wasps default on the debenture and still play on, is that a serious financial breach as they were playing with funding they could not afford.
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Re: Wasps still in the mire

Post by jgriffin »

Go back 3 years and many saw this hour comng.
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Re: Wasps still in the mire

Post by tigerburnie »

From the outside it looks like they have never had a sound footing since the game went pro, wrong people in the wrong jobs maybe?
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GB72
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Re: Wasps still in the mire

Post by GB72 »

tigerburnie wrote: Fri Jun 17, 2022 1:06 pm From the outside it looks like they have never had a sound footing since the game went pro, wrong people in the wrong jobs maybe?
Maybe a massive assumption that rugby will fill a stadium no matter what the size. Never saw the point of a massive ground when history shows that only one or 2 clubs have significant match going support. Never seemed to accept that they needed to cut their cloth according to current revenue not some pipe dream of future income.

Sadly I can see a future involving a player exodus and an inevitable drop down the table followed by re-build at yet another ground.
Rugbygramps
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Re: Wasps still in the mire

Post by Rugbygramps »

jgriffin wrote: Fri Jun 17, 2022 1:01 pm Go back 3 years and many saw this hour comng.
Totally agree and it need dealing with now by the authorities, how they can be deemed to be a viable financial concern is beyond me
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Re: Wasps still in the mire

Post by Rugbygramps »

GB72 wrote: Fri Jun 17, 2022 1:19 pm
tigerburnie wrote: Fri Jun 17, 2022 1:06 pm From the outside it looks like they have never had a sound footing since the game went pro, wrong people in the wrong jobs maybe?
Maybe a massive assumption that rugby will fill a stadium no matter what the size. Never saw the point of a massive ground when history shows that only one or 2 clubs have significant match going support. Never seemed to accept that they needed to cut their cloth according to current revenue not some pipe dream of future income.

Sadly I can see a future involving a player exodus and an inevitable drop down the table followed by re-build at yet another ground.
From memory they used to struggle to fill Adams park when they were successful and more in their fan base
Hot_Charlie
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Re: Wasps still in the mire

Post by Hot_Charlie »

Rugbygramps wrote: Fri Jun 17, 2022 1:20 pm
jgriffin wrote: Fri Jun 17, 2022 1:01 pm Go back 3 years and many saw this hour comng.
Totally agree and it need dealing with now by the authorities, how they can be deemed to be a viable financial concern is beyond me
Any better than London Welsh were?
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Re: Wasps still in the mire

Post by Rugbygramps »

Hot_Charlie wrote: Fri Jun 17, 2022 2:00 pm
Rugbygramps wrote: Fri Jun 17, 2022 1:20 pm
jgriffin wrote: Fri Jun 17, 2022 1:01 pm Go back 3 years and many saw this hour comng.
Totally agree and it need dealing with now by the authorities, how they can be deemed to be a viable financial concern is beyond me
Any better than London Welsh were?
Probably not though I’m not sure Welsh had a wealthy independent backer.
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TigerFeetSteve
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Re: Wasps still in the mire

Post by TigerFeetSteve »

Wonder if they'll try a Leeds, and try selling their Premiership shares, I'm sure Ealing would be willing to fork out for them.
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loretta
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Re: Wasps still in the mire

Post by loretta »

GB72 wrote: Fri Jun 17, 2022 1:19 pm
tigerburnie wrote: Fri Jun 17, 2022 1:06 pm From the outside it looks like they have never had a sound footing since the game went pro, wrong people in the wrong jobs maybe?
Maybe a massive assumption that rugby will fill a stadium no matter what the size. Never saw the point of a massive ground when history shows that only one or 2 clubs have significant match going support. Never seemed to accept that they needed to cut their cloth according to current revenue not some pipe dream of future income.

Sadly I can see a future involving a player exodus and an inevitable drop down the table followed by re-build at yet another ground.
I could live with it
In my defence, I was left unsupervised….
Scott1
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Re: Wasps still in the mire

Post by Scott1 »

loretta wrote: Fri Jun 17, 2022 4:46 pm
GB72 wrote: Fri Jun 17, 2022 1:19 pm
tigerburnie wrote: Fri Jun 17, 2022 1:06 pm From the outside it looks like they have never had a sound footing since the game went pro, wrong people in the wrong jobs maybe?
Maybe a massive assumption that rugby will fill a stadium no matter what the size. Never saw the point of a massive ground when history shows that only one or 2 clubs have significant match going support. Never seemed to accept that they needed to cut their cloth according to current revenue not some pipe dream of future income.

Sadly I can see a future involving a player exodus and an inevitable drop down the table followed by re-build at yet another ground.
I could live with it
I couldn’t! Not if it means people at the bottom of the ladder perhaps being out of jobs!
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GB72
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Re: Wasps still in the mire

Post by GB72 »

loretta wrote: Fri Jun 17, 2022 4:46 pm
GB72 wrote: Fri Jun 17, 2022 1:19 pm
tigerburnie wrote: Fri Jun 17, 2022 1:06 pm From the outside it looks like they have never had a sound footing since the game went pro, wrong people in the wrong jobs maybe?
Maybe a massive assumption that rugby will fill a stadium no matter what the size. Never saw the point of a massive ground when history shows that only one or 2 clubs have significant match going support. Never seemed to accept that they needed to cut their cloth according to current revenue not some pipe dream of future income.

Sadly I can see a future involving a player exodus and an inevitable drop down the table followed by re-build at yet another ground.
I could live with it
I couldn't. Despite any rivalry, Wasps have a rich histroy at the top of the game and it is a pity that the current custodians of the club have made a right balls running it.
Rugbygramps
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Re: Wasps still in the mire

Post by Rugbygramps »

GB72 wrote: Fri Jun 17, 2022 4:51 pm
loretta wrote: Fri Jun 17, 2022 4:46 pm
GB72 wrote: Fri Jun 17, 2022 1:19 pm

Maybe a massive assumption that rugby will fill a stadium no matter what the size. Never saw the point of a massive ground when history shows that only one or 2 clubs have significant match going support. Never seemed to accept that they needed to cut their cloth according to current revenue not some pipe dream of future income.

Sadly I can see a future involving a player exodus and an inevitable drop down the table followed by re-build at yet another ground.
I could live with it
I couldn't. Despite any rivalry, Wasps have a rich histroy at the top of the game and it is a pity that the current custodians of the club have made a right balls running it.
Someone I know attended a Wasps match a while back as their guest, in the Dai Young days. He came back full of enthusiasm and admiration, for what was going on at the club behind the scenes and how this was how rugby clubs should be run moving forward.
That played out well didn’t it.
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