Wasps in the mire - now in administration

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Not a jock
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Re: Wasps still in the mire

Post by Not a jock »

I'm totally confused - don't understand the structure of the various Wasps' entities. Please could someone explain what the structure is? For example, which is the parent company, who owes what to whom, where the rugby club fits in, where the stadium fits in, which entity(ies) are threatening to take action etc etc? Ta.
loretta
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Re: Wasps still in the mire

Post by loretta »

Check out the post by sk88 for a start, second from the top of page 4 in this thread.
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trendylfj
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Re: Wasps still in the mire

Post by trendylfj »

The bondholders group on Facebook are not a very happy group. Some are asking questions about if they received notice about "October 2020 consent solicitation, for changes to the bond conditions"? From my reading, what they are asking is that this notice went to their brokers, some of whom did not send it on to them and they knew nothing about the changes. Many of them are wanting to get together and have a vote on it.
Hehehehehehehehe
LE18
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Re: Wasps still in the mire

Post by LE18 »

DT today reporting that CCFC are considering sueing Wasp for loss of earnings etc, after having to move/postpone their 3rd match which should have been played there on Tuesday coming, saying Wasps have failed to initiate the repair work promised after the CW games.
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Re: Wasps still in the mire

Post by TigerFeetSteve »

https://archive.ph/zzYKa

This is the Telegraph article (but not behind a paywall)
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tigerburnie
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Re: Wasps still in the mire

Post by tigerburnie »

Were I a Wasps player I would be very concerned for my immediate future.
"If you want entertainment, go to the theatre," says Edinburgh head coach Richard Cockerill. "Rugby players play the game to win.15/1/21.
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Re: Wasps still in the mire

Post by Rugbygramps »

tigerburnie wrote: Sun Aug 14, 2022 3:12 pm Were I a Wasps player I would be very concerned for my immediate future.
You certainly have to wonder what is going through Vincent Koch’s mind after his move from Sarries
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Re: Wasps still in the mire

Post by tigerburnie »

Could well be out of the frying pan and into the fire................
"If you want entertainment, go to the theatre," says Edinburgh head coach Richard Cockerill. "Rugby players play the game to win.15/1/21.
fortysix
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Re: Wasps still in the mire

Post by fortysix »

64000$ question. Does this mean Wasps get disbanded?
And if so, who would we want to sign ?
Barbeary, Willis J ?
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Re: Wasps still in the mire

Post by kpj tiger »

fortysix wrote: Sun Aug 14, 2022 4:40 pm 64000$ question. Does this mean Wasps get disbanded?
And if so, who would we want to sign ?
Barbeary, Willis J ?
You'd imagine the vultures would be circling for Oghre, Koch, Launchbury, Barbeary, Willis x2, Atkinson and Odogwu in particular

The likes of Stooke and Bassett could be good moneyball pickups as well
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Re: Wasps still in the mire

Post by Rugbygramps »

kpj tiger wrote: Sun Aug 14, 2022 5:04 pm
fortysix wrote: Sun Aug 14, 2022 4:40 pm 64000$ question. Does this mean Wasps get disbanded?
And if so, who would we want to sign ?
Barbeary, Willis J ?
You'd imagine the vultures would be circling for Oghre, Koch, Launchbury, Barbeary, Willis x2, Atkinson and Odogwu in particular

The likes of Stooke and Bassett could be good moneyball pickups as well
If it does happen the issue will be if there is further funding made available and if the existing cap is increased
longlivethecrumbie
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Re: Wasps still in the mire

Post by longlivethecrumbie »

Rugbygramps wrote: Sun Aug 14, 2022 5:23 pm
kpj tiger wrote: Sun Aug 14, 2022 5:04 pm
fortysix wrote: Sun Aug 14, 2022 4:40 pm 64000$ question. Does this mean Wasps get disbanded?
And if so, who would we want to sign ?
Barbeary, Willis J ?
You'd imagine the vultures would be circling for Oghre, Koch, Launchbury, Barbeary, Willis x2, Atkinson and Odogwu in particular

The likes of Stooke and Bassett could be good moneyball pickups as well
If it does happen the issue will be if there is further funding made available and if the existing cap is increased
Just imagine the uproar that would occur if Wasps did go to the wall and there was no dispensation made within the cap and the players had no options for playing contracts in England.
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Re: Wasps still in the mire

Post by Dr H Flashman MBE »

If and it’s a big if (which I don’t think will happen) and wasps went to the wire, there is no club I would imagine in the Premiership who could afford to buy any of the wasps star players. The Premiership would have to make some sort of dispensation to clubs, but how would this be fair? You all get an extra £x… scary times to be a wasp fan but more for their squad players. Your Willis brothers etc can and will get picked up, the lesser known squad players may struggle.
I think that if the Premiership decide to save them or assist this would open up large amounts of litigation from other clubs who have gone to the wire.
Wait and see.
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longlivethecrumbie
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Re: Wasps still in the mire

Post by longlivethecrumbie »

Dr H Flashman MBE wrote: Sun Aug 14, 2022 7:19 pm If and it’s a big if (which I don’t think will happen) and wasps went to the wire, there is no club I would imagine in the Premiership who could afford to buy any of the wasps star players. The Premiership would have to make some sort of dispensation to clubs, but how would this be fair? You all get an extra £x… scary times to be a wasp fan but more for their squad players. Your Willis brothers etc can and will get picked up, the lesser known squad players may struggle.
I think that if the Premiership decide to save them or assist this would open up large amounts of litigation from other clubs who have gone to the wire.
Wait and see.
Would Premier Rugby be able to dish out any more cash to other clubs? Some of the clubs are to the wire financially anyway and the only way they would be able to afford to take any of these players on would be through additional cash injection.

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sam16111986
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Re: Wasps still in the mire

Post by sam16111986 »

Dr H Flashman MBE wrote: Sun Aug 14, 2022 7:19 pm If and it’s a big if (which I don’t think will happen) and wasps went to the wire, there is no club I would imagine in the Premiership who could afford to buy any of the wasps star players. The Premiership would have to make some sort of dispensation to clubs, but how would this be fair? You all get an extra £x… scary times to be a wasp fan but more for their squad players. Your Willis brothers etc can and will get picked up, the lesser known squad players may struggle.
I think that if the Premiership decide to save them or assist this would open up large amounts of litigation from other clubs who have gone to the wire.
Wait and see.
They PRL could re-distribute the Wasps proportion of the TV rights to clubs with the direction that they can only use it to pay the wages of former Wasps players. If you don't use it you lose it.

Depending on how accurate the media reports are to the value of the broadcasting deal that would take up roughly half of the Wasps squad on current value contracts, this is on the basis they are roughly up to the cap and have a marquee player. Obviously a number of the players might take reduced salaries to guarantee a contract for next season.

Not that I think it will come to that.
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