Wasps in the mire - now in administration

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Nofrontteeth
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Re: Wasps still in the mire

Post by Nofrontteeth »

Is it for this thread or the Wocester one?
Whichever the dier state of rugby finance has at last made national TV.

Bad news makes work for the journolistic scribes/transmitters. As I asked previously
"will this be another nail in the coffin of rugby and its PR image?"
Smudge
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Re: Wasps still in the mire

Post by Smudge »

https://www.ruck.co.uk/wasps-enter-admi ... Iy_cTxSEqA

As much as I dislike the insects, I am saddened by this. It isn't great for the Premiership and we could be playing Redruth and Esher next season.....
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peteD
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Re: Wasps still in the mire

Post by peteD »

You half expect premiership rugby to think that once Sarries are back in the top league they can ‘restructure’ to a more sustainable league and invite trailfinders / pirates etc as required
Dr H Flashman MBE
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Re: Wasps still in the mire

Post by Dr H Flashman MBE »

According to that Ruck top 10 players Sarries have 3? How is that sustainable? That is the reason clubs are in trouble. Gates are down and players want more money. Something has to give.
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speedski
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Re: Wasps still in the mire

Post by speedski »

Dr H Flashman MBE wrote: Sat Sep 24, 2022 4:03 pm According to that Ruck top 10 players Sarries have 3? How is that sustainable? That is the reason clubs are in trouble. Gates are down and players want more money. Something has to give.
Saffas have never had the gate attendance for the warriors squad let along their own superstars…
SthrnTiger
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Re: Wasps still in the mire

Post by SthrnTiger »

Am I right in thinking that the latest batch of economic policies is going to make refinancing the bonds much harder for wasps?
jgriffin
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Re: Wasps still in the mire

Post by jgriffin »

SthrnTiger wrote: Wed Sep 28, 2022 10:29 am Am I right in thinking that the latest batch of economic policies is going to make refinancing the bonds much harder for wasps?
Guess so, but think it is more likely, as with agriculture and much else in this rapidly-approaching-penury country, a fire sale with hedge funds slamming in to bleed assets after.
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aslongaswebeatsaints
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Re: Wasps still in the mire

Post by aslongaswebeatsaints »

It’s very easy with Wasps to say told you so. Many had already called the inevitable outcome of the move (gamble) from London. But I desperately hope Wasps can find a way out of this as losing one of our fellow heavyweights is almost unthinkable. In the meantime I have the deepest sorrow and empathy for another set of players, coaches and back room staff who will be trying their best in such uncertainty - all people who will be going through the miserable uncertainty of whether they will have jobs in the near future - and with it worries over mortgages, food on the table for the family etc. All people who didn’t create this but could pay the greatest cost. A league without Worcester or the Insects is a disaster on so many levels.

What needs doing to ensure the future of rugby will make many unhappy. But it’s pretty clear that the stack of cards we have now is the worst of most scenarios.
Rugbygramps
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Re: Wasps still in the mire

Post by Rugbygramps »

aslongaswebeatsaints wrote: Wed Sep 28, 2022 3:48 pm It’s very easy with Wasps to say told you so. Many had already called the inevitable outcome of the move (gamble) from London. But I desperately hope Wasps can find a way out of this as losing one of our fellow heavyweights is almost unthinkable. In the meantime I have the deepest sorrow and empathy for another set of players, coaches and back room staff who will be trying their best in such uncertainty - all people who will be going through the miserable uncertainty of whether they will have jobs in the near future - and with it worries over mortgages, food on the table for the family etc. All people who didn’t create this but could pay the greatest cost. A league without Worcester or the Insects is a disaster on so many levels.

What needs doing to ensure the future of rugby will make many unhappy. But it’s pretty clear that the stack of cards we have now is the worst of most scenarios.
Excellent post. In the bit I saw of the Lawrence interview one of the points he makes is that not all players have savings to rely on, there are a few that are living month to month.
There are going to have to be some very unpopular decisions made if the game is to survive in any sort of recognised format.
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Re: Wasps still in the mire

Post by TigerFeetSteve »

https://www.begbies-traynorgroup.com/ar ... iquidation.

Now obviously Worcester have gone into administration, but on Wednesday (I think) the 10 working days from Wasps filing their NOI (notice of intent) is up. At that point without the funds (or proving to a court that funds are almost there) Wasps also will be in administration.
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loretta
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Re: Wasps still in the mire

Post by loretta »

TigerFeetSteve wrote: Mon Oct 03, 2022 8:26 pm https://www.begbies-traynorgroup.com/ar ... iquidation.

Now obviously Worcester have gone into administration, but on Wednesday (I think) the 10 working days from Wasps filing their NOI (notice of intent) is up. At that point without the funds (or proving to a court that funds are almost there) Wasps also will be in administration.
That’s my understanding of the timing for Wasps too. Curiously though, BTsport commentary mentioned a different date at the weekend.
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sk 88
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Re: Wasps still in the mire

Post by sk 88 »

loretta wrote: Tue Oct 04, 2022 8:16 am
TigerFeetSteve wrote: Mon Oct 03, 2022 8:26 pm https://www.begbies-traynorgroup.com/ar ... iquidation.

Now obviously Worcester have gone into administration, but on Wednesday (I think) the 10 working days from Wasps filing their NOI (notice of intent) is up. At that point without the funds (or proving to a court that funds are almost there) Wasps also will be in administration.
That’s my understanding of the timing for Wasps too. Curiously though, BTsport commentary mentioned a different date at the weekend.
Quite a few people are acting as if the extension is automatic.
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loretta
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Re: Wasps still in the mire

Post by loretta »

BBC sport now reporting that a second NOI has been filed. Presumably the extension.
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wormus
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Re: Wasps still in the mire

Post by wormus »

loretta wrote: Tue Oct 04, 2022 4:30 pm BBC sport now reporting that a second NOI has been filed. Presumably the extension.
I attach the details just issued from the BBC. https://www.bbc.co.uk/sport/rugby-union/63135751
TigerFeetSteve
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Re: Wasps still in the mire

Post by TigerFeetSteve »

wormus wrote: Tue Oct 04, 2022 5:44 pm
loretta wrote: Tue Oct 04, 2022 4:30 pm BBC sport now reporting that a second NOI has been filed. Presumably the extension.
I attach the details just issued from the BBC. https://www.bbc.co.uk/sport/rugby-union/63135751
Intresting is says they have applied for more time, not that it's been granted
Used to run around with an 11, 14 or 15 on my back.
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