Wasps in the mire - now in administration

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TigerFeetSteve
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Re: Wasps in the mire - now in administration

Post by TigerFeetSteve »

Hot_Charlie wrote: Mon Nov 14, 2022 4:45 pm
LE18 wrote: Mon Nov 14, 2022 4:42 pm
Hot_Charlie wrote: Mon Nov 14, 2022 4:35 pm

It's better than nothing for some. Seems like some are not going to want to let the "previous administration" get away scot-free.
I don't blame them but it was obviously a risk investing knowing Wasps history and you have to question their initial expectations?
Sold a pup by a deal that any proverbial used-car salesman would be proud of!
It seems also that some thought their P shares were additional security, but the discussion is that they can't force those to be sold (but would get the money IF they get sold) so they seem irratated by the idea the phoenix club may inherit the shares rather than help clear their debts.

Quite a lot of anger and confusion about how the stadium and rugby club have been seperated in the Administration proceedings in all this.
Used to run around with an 11, 14 or 15 on my back.
LE18
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Re: Wasps in the mire - now in administration

Post by LE18 »

Hot_Charlie wrote: Mon Nov 14, 2022 4:45 pm
LE18 wrote: Mon Nov 14, 2022 4:42 pm
Hot_Charlie wrote: Mon Nov 14, 2022 4:35 pm

It's better than nothing for some. Seems like some are not going to want to let the "previous administration" get away scot-free.
I don't blame them but it was obviously a risk investing knowing Wasps history and you have to question their initial expectations?
Sold a pup by a deal that any proverbial used-car salesman would be proud of!
Boycie. :smt046 Brill.
Hot_Charlie
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Re: Wasps in the mire - now in administration

Post by Hot_Charlie »

To the uneducated outsider (like me), yep, that's pretty much what I was getting at! :smt003
TigerFeetSteve
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Re: Wasps in the mire - now in administration

Post by TigerFeetSteve »

Used to run around with an 11, 14 or 15 on my back.
trendylfj
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Re: Wasps in the mire - now in administration

Post by trendylfj »

Quotes from members of the bondholders association who attended the court meeting:

"Sorry, we lost! Prepack has gone through, we will give you all details"

"House of Fraser position accepted and they now own the arena"

"The CCFC offer insufficiently developed at such a late stage"

"Mike Ashleigh's offer to the bondholders is 30p in the £"

Doesn't sound good for the bondholders
Hehehehehehehehe
TigerFeetSteve
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Re: Wasps in the mire - now in administration

Post by TigerFeetSteve »

https://twitter.com/Wasps_Guy/status/15 ... O7gHg&s=19

Wasps name off the side of the CBS now...
Used to run around with an 11, 14 or 15 on my back.
Scott1
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Re: Wasps in the mire - now in administration

Post by Scott1 »

Wasps interested in buying sixways but could groundshare with Wuss.
https://www.standard.co.uk/sport/rugby/ ... 43401.html
"Rugby isn't a contact sport,ballroom dancing is a contact sport. Rugby is a collision sport" Heyneke Meyer
ay2oh
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Re: Wasps in the mire - now in administration

Post by ay2oh »

Scott1 wrote: Tue Nov 29, 2022 3:49 pm Wasps interested in buying sixways but could groundshare with Wuss.
https://www.standard.co.uk/sport/rugby/ ... 43401.html
Thought they were in administration .
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ads
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Re: Wasps in the mire - now in administration

Post by ads »

Do they prefer to play in empty stadiums? cos there's no way Worcester fans are gonna start turning out to watch Wasps.
Wayne Richardson Fan Club
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Re: Wasps in the mire - now in administration

Post by Wayne Richardson Fan Club »

ads wrote: Tue Nov 29, 2022 5:30 pm Do they prefer to play in empty stadiums? cos there's no way Worcester fans are gonna start turning out to watch Wasps.
Well they were used to it....
To win is not as important as playing with style!
Wayne Richardson Fan Club
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Re: Wasps in the mire - now in administration

Post by Wayne Richardson Fan Club »

ads wrote: Tue Nov 29, 2022 5:30 pm Do they prefer to play in empty stadiums? cos there's no way Worcester fans are gonna start turning out to watch Wasps.
Well they were used to it....
To win is not as important as playing with style!
tigerburnie
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Re: Wasps in the mire - now in administration

Post by tigerburnie »

RFU REGULATION 5 – FINANCIAL (APPENDIX 2)

The RFU’s Primary Considerations
The primary considerations for the RFU if the Club wishes to transfer its membership and league position to a Phoenix Entity are:
• Will the Phoenix Entity be able to play at its current ground next season and beyond?
• Does the Phoenix Entity have sufficient financial backing to operate in its current league (and any other league specified by the RFU) for the following season and beyond?
• Will all the outstanding Rugby Creditors of the insolvent Club be paid?
• Are any new ownership arrangements for the Phoenix Entity suitable and will the new owners and management of the new entity be satisfactory to the RFU?
• The circumstances of each Insolvency Event are likely to be different, and therefore the RFU may take any other matters into consideration it sees fit.

If Wasps were to buy 6Ways, they would not be able to play there in the Championship, they would have to begin at the bottom of the leagues..............................of course that's assuming the RFU actually apply the rule.
"If you want entertainment, go to the theatre," says Edinburgh head coach Richard Cockerill. "Rugby players play the game to win.15/1/21.
speedski
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Re: Wasps in the mire - now in administration

Post by speedski »

Sixways doesn’t make sense - part of the sign over requires it to play in Coventry no?
Farmboy
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Re: Wasps in the mire - now in administration

Post by Farmboy »

The word "Considerations" is not an absolute & allows wriggle room
Scott1
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Re: Wasps in the mire - now in administration

Post by Scott1 »

Farmboy wrote: Thu Dec 01, 2022 1:28 pm The word "Considerations" is not an absolute & allows wriggle room
Absolutely,I’ve no doubt Wasps will get a pass!
"Rugby isn't a contact sport,ballroom dancing is a contact sport. Rugby is a collision sport" Heyneke Meyer
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