Wasps in the mire - now in administration

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jgriffin
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Re: Wasps in the mire - now in administration

Post by jgriffin »

Wayne Richardson Fan Club wrote: Fri Dec 16, 2022 5:33 pm & at present the UK Taxpayer is out of pocket.
Nonsense. Our taxes return to the Treasury fund. 'taxpayer' is a myth. Any monies used in any of the process is either private bank created or government created/recycled. Doesn't stop this being a stitch up though.
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Rugbygramps
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Re: Wasps in the mire - now in administration

Post by Rugbygramps »

I agree with Northern tiger. It all smacks of Dayglo pounding the corridors of power with steam coming out of his nostrils, ranting about the clubs wonderful heritage and how it mustn’t be lost. Sweeney will have been wined and dined to the nth degree.
jgriffin
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Re: Wasps in the mire - now in administration

Post by jgriffin »

Rugbygramps wrote: Fri Dec 16, 2022 7:06 pm I agree with Northern tiger. It all smacks of Dayglo pounding the corridors of power with steam coming out of his nostrils, ranting about the clubs wonderful heritage and how it mustn’t be lost. Sweeney will have been wined and dined to the nth degree.
This!
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Scott1
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Re: Wasps in the mire - now in administration

Post by Scott1 »

jgriffin wrote: Fri Dec 16, 2022 7:06 pm
Rugbygramps wrote: Fri Dec 16, 2022 7:06 pm I agree with Northern tiger. It all smacks of Dayglo pounding the corridors of power with steam coming out of his nostrils, ranting about the clubs wonderful heritage and how it mustn’t be lost. Sweeney will have been wined and dined to the nth degree.
This!
+ infinity
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northerntiger
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Re: Wasps in the mire - now in administration

Post by northerntiger »

Rugbygramps wrote: Fri Dec 16, 2022 7:06 pm I agree with Northern tiger. It all smacks of Dayglo pounding the corridors of power with steam coming out of his nostrils, ranting about the clubs wonderful heritage and how it mustn’t be lost. Sweeney will have been wined and dined to the nth degree.
He did try that argument before they went pop didn’t he? I like Worcester, been to many mini and junior matches there, always good. Wasp involvement in the mids was limited to giving out free tickets......
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Re: Wasps in the mire - now in administration

Post by Scott1 »

northerntiger wrote: Fri Dec 16, 2022 7:40 pm
Rugbygramps wrote: Fri Dec 16, 2022 7:06 pm I agree with Northern tiger. It all smacks of Dayglo pounding the corridors of power with steam coming out of his nostrils, ranting about the clubs wonderful heritage and how it mustn’t be lost. Sweeney will have been wined and dined to the nth degree.
He did try that argument before they went pop didn’t he? I like Worcester, been to many mini and junior matches there, always good. Wasp involvement in the mids was limited to giving out free tickets......
And having an awful atmosphere,The Ricoh was a dreadful ground for rugby
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loretta
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Re: Wasps in the mire - now in administration

Post by loretta »

I can’t see Wasps getting back up until they develop the ground, if it’s possible. 5,500 capacity won’t cut it, even though they still won’t fill it. Of course that rule could always be ignored too!
In my defence, I was left unsupervised….
Scott1
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Re: Wasps in the mire - now in administration

Post by Scott1 »

loretta wrote: Sat Dec 17, 2022 9:14 am I can’t see Wasps getting back up until they develop the ground, if it’s possible. 5,500 capacity won’t cut it, even though they still won’t fill it. Of course that rule could always be ignored too!
Hasn't the capacity been dropped to 5k already anyway? 🤔
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Scott1
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Re: Wasps in the mire - now in administration

Post by Scott1 »

Scott1 wrote: Sat Dec 17, 2022 9:56 am
loretta wrote: Sat Dec 17, 2022 9:14 am I can’t see Wasps getting back up until they develop the ground, if it’s possible. 5,500 capacity won’t cut it, even though they still won’t fill it. Of course that rule could always be ignored too!
Hasn't the capacity been dropped to 5k already anyway? 🤔
Only for a season,but it wouldn't surprise me if Free Pass Wasps get a free pass!
https://www.bbc.co.uk/sport/rugby-union/62928613
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mol2
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Re: Wasps in the mire - now in administration

Post by mol2 »

Isn’t the inland revenue a priority in terms of distribution of assets in event of bankruptcies or administration? They get paid first if any funds remain when the assets have been liquidated.
The others get paid out of the remainder.

Covid loans may differ as they are are not tax.
Hot_Charlie
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Re: Wasps in the mire - now in administration

Post by Hot_Charlie »

northerntiger wrote: Fri Dec 16, 2022 6:38 pm I don’t even pretend to understand the financial ins and outs. But it smacks horribly of the old established side being treated much better than the upstarts who had the temerity to dine at the top table
If the upstarts you're referring to a Worcester, and the prospective new owners, it might be worth digging deeper into who they are.

A consortium led by a former chairman (was he in charge when the other two bought the club?), with an ex-rugby playing, city "client relationship manager" and reality tv star (Made in Chelsea) with the other "active" directors apparently being the European arm of a US company that's office looks like the set of Saul Goodman's office in Breaking Bad/Better Call Saul. A consortium who the RFU don't think are willing to guarantee a long-term rugby future if they buy the business (which the administrator won't have as a priority). The RFU regulations they will only back a bid that doesn't do that if there are no other bids forthcoming which, as Steve Diamond made a very deliberate point of making, there are. It now makes sense that he did that the day or so before Atlas were confirmed as the preferred bidder; they knew that this might well happen.
teds
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Re: Wasps in the mire - now in administration

Post by teds »

jgriffin wrote: Fri Dec 16, 2022 7:05 pm
Wayne Richardson Fan Club wrote: Fri Dec 16, 2022 5:33 pm & at present the UK Taxpayer is out of pocket.
Nonsense. Our taxes return to the Treasury fund. 'taxpayer' is a myth. Any monies used in any of the process is either private bank created or government created/recycled. Doesn't stop this being a stitch up though.
Surely, any loan from a private bank would need to be underwritten by the government. Any debt incurred by the government is in effect a liability against the taxpayer. Put simply, because of Wasps, the tax payer would have to pay an additional sum to maintain the same level of services.

That’s not to mention the bond holders who appear to have been defrauded.
MrG2
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Re: Wasps in the mire - now in administration

Post by MrG2 »

Coventry RFC not happy and who can blame them
https://www.bbc.co.uk/sport/rugby-union/64026368
TigerFeetSteve
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Re: Wasps in the mire - now in administration

Post by TigerFeetSteve »

MrG2 wrote: Mon Dec 19, 2022 8:26 pm Coventry RFC not happy and who can blame them
https://www.bbc.co.uk/sport/rugby-union/64026368
Not gonna lie. Since Cov have signed some of the free agents from Worcester, they've been on a roll. They're 3rd atm in the league, would love it if they got promoted. I hear there's a Prem Rugby approved ground in Cov, would be a real kicker to Wasps...
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thebearisstilldeano
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Re: Wasps in the mire - now in administration

Post by thebearisstilldeano »

More on Rugby Pass
https://www.rugbypass.com/news/its-not- ... nt-happen/

The Old Farts are clearly still in charge at the RFU, forty years or so after Will Carling called them out. :smt013
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