Worcester’s woes

[TigerFeetSteve]

https://twitter.com/MattHardyJourno/sta ... 7qa-Q&s=19

It appears one of the new Wasps Directors also has an interest in the new Worcester Warriors.

[GB72]

https://twitter.com/MattHardyJourno/sta ... 7qa-Q&s=19

It appears one of the new Wasps Directors also has an interest in the new Worcester Warriors.

There does seem to be a faint but strengthening aroma that Worcester Wasps has been in the background all along. A club that needs to ditch its ground to clear its debts (and leave everyone in the lurch) and a club with a ground that the owners wanted to cash in on. Result is Worcester Wasps, 2 clubs with debts bailed on merge to form one that owns its ground and has been give a free start in the championship/

[Wayne Richardson Fan Club]

https://twitter.com/MattHardyJourno/sta ... 7qa-Q&s=19

It appears one of the new Wasps Directors also has an interest in the new Worcester Warriors.

There does seem to be a faint but strengthening aroma that Worcester Wasps has been in the background all along. A club that needs to ditch its ground to clear its debts (and leave everyone in the lurch) and a club with a ground that the owners wanted to cash in on. Result is Worcester Wasps, 2 clubs with debts bailed on merge to form one that owns its ground and has been give a free start in the championship/

If it walks like a Duck & quacks like a Duck......

All facilitated by the RFU/Dayglo fan club.

[sam16111986]

The Wasps director is using his investment company (which I think holds some shares in Wasps, not sure) to provide a loan facility to Atlas with the Sixways site being collateral or that's what it looks like with a two minute quick read.

[Old Hob]

I agree about the whiff. If this goes ahead, where do Wasps think they'll get their supporters from? Do they think that all the old Worcester supporters will shrug their shoulders and say, "never mind" and trot along to Sixways as though nothing has happened? Or will the few in Coventry travel to their "home" match? Perhaps they'll put on buses from High Wycombe or Sunbury?

[TigerFeetSteve]

https://archive.is/FLQW7

Telegraph article with London Irish captain saying they still haven't been paid but that they'll play IF they get written proof they are insured

[PJM]

https://twitter.com/MattHardyJourno/sta ... 7qa-Q&s=19

It appears one of the new Wasps Directors also has an interest in the new Worcester Warriors.

That link has been removed, I wonder why?

[TigerFeetSteve]

https://twitter.com/MattHardyJourno/sta ... 7qa-Q&s=19

It appears one of the new Wasps Directors also has an interest in the new Worcester Warriors.

That link has been removed, I wonder why?

https://twitter.com/Mcossalifrancis/sta ... m0z1Q&s=19

Statement about this

[Old Hob]

The waters get murkier by the day.

[loretta]

https://www.bbc.co.uk/sport/rugby-union/65465381

Wasps owner Chris Holland makes loan to Worcester to secure Sixways lease

[AngusMcCoatup]

https://www.bbc.co.uk/sport/rugby-union/65465381

Wasps owner Chris Holland makes loan to Worcester to secure Sixways lease

Such a shame that Chris Holland did not repay those Wasp bond holders first.

[Offside]

I cannot find any statement of the amount loaned. If Atlas are solvent and Wasps will rent the stadium the loan should not be necessary. If the loan is to secure Atlas ability to buy the stadium I can see why the loan needs some physical security but as the Ricoh bond holders found the value on paper and what you get in a forced sale are very different things. Loaning your landlord money that they can only pay back if you pay them rent does seem a risky arrangement for both parties and the legal teams will be making plenty from both sides.

[Rugbygramps]

I cannot find any statement of the amount loaned. If Atlas are solvent and Wasps will rent the stadium the loan should not be necessary. If the loan is to secure Atlas ability to buy the stadium I can see why the loan needs some physical security but as the Ricoh bond holders found the value on paper and what you get in a forced sale are very different things. Loaning your landlord money that they can only pay back if you pay them rent does seem a risky arrangement for both parties and the legal teams will be making plenty from both sides.

This is what I find strange. Where are Wasps going to get the money for the day to day running of the club. Yes their outgoings will be less than the premiership but they will do well to get a couple of thousand into Sixways, from which they will also have to pay rent. It just doesn’t add up

[Old Hob]

According to the Mail, the loan is £1.15 million to be repaid in 21 days.

https://www.dailymail.co.uk/sport/rugby ... -loan.html

[TigerFeetSteve]

https://www.standard.co.uk/sport/rugby/ ... 79690.html