Wasps Finance 6.5% bond

[SteveTodd]

I think Derek's plan was simply to help move Wasps so they didn't go bankrupt (Apparently Dai was paying for the diesel for the team bus towards the end of the High Wycombe days) and raise the necessary money by any means and then face whatever crops up after that.

I'm presuming the TV/PRL money and also sponsorship money is the biggest revenue stream but that is going to be pretty much constant and Wasps don't really have control over that.

It would be fantastic to have 30k people at each game but that's never going to happen. Hoping for a season average of about 14k is pretty decent considering Wasps have moved to a new area.

Unlike most other clubs Wasps have other revenue streams plus the proposed new hotel on car park C.

As long as investors (you) are still receiving a return I think most will accept a new proposal.. if investors (you) don't like what's being offered then you can sell up and move your money elsewhere and not worry about Wasps.

BTW.. if you're new to rugby.. how did you find out about the investment opportunity?

Wow! Things were really bad then, the reports that I read about Wasps nearly going into extinction were obviously not exaggerating.

I am always looking for investment opportunities, especially individual corporate bonds, and the Wasps corporate bond was listed on the Hargreaves Lansdown (it's an investment platform) website.

The problem Wasps have is that the bond needs to be repaid in May 2022, if that does not happen the ricoh stadium will be forfeited as collateral secured to the bond. So it needs to be done by raising the £35m (although I did read the other day that it was only £33.1m, I'm not sure which figure is correct) by May 2022. If they could find a partner to sell a half share in the stadium that would probably solve their problems. I know that isn't ideal and falls short of their dreams. But it would get rid of most of the problematic debt, and having half of something (almost debt free) is better than ending up with nothing.

[Sting]

SteveTodd
Are you a Sisu or Coventry investor or employee?

[SteveTodd]

SteveTodd
Are you a Sisu or Coventry investor or employee?

What on earth are you on about? No, I'm actually an investor in the Wasps corporate bond (as far as I know there are no Coventry or Sisu corporate bonds), even if there was I can tell you now that I would not invest in Coventry City, they don't own their own ground so nothing to secure the bond too. I'm also a Sunderland supporter, so I am not exactly a friend of Coventry City! I don't have many individual corporate bonds (only Wasps and 3 different provident financial bonds 2020, 2021 and 2023). Most of my investments are in equities and investment property, where is your money invested or saved?

I'm a quantity surveyor by profession, but currently work as a university lecturer. Why do you want to know?

[Rossm]

Apologies, Steve. We're a bit paranoid. If you are not aware of the history then a quick google with the subject 'sisu, ccfc, ricoh' will give you hours of unpleasant reading.

[SteveTodd]

Apologies, Steve. We're a bit paranoid. If you are not aware of the history then a quick google with the subject 'sisu, ccfc, ricoh' will give you hours of unpleasant reading.

I only care about 2 rugby teams, Wasps (because I have invested in them, so started following them and of course England). I definitely want Coventry City to finish below Sunderland because they are promotion rivals to us.I really do not get why Sisu are behaving the way that they are/did, if they were smarter they would have realised that Wasps are in a financial situation, if I was Sisu would have courted Wasps and eventually proposed buying a share in the stadium (when the time was right) that way both teams have a stadium at half price. But instead they behaved like pratts and ended up having to play their home games in another city, what idiots!

[BG]

SteveTodd
Are you a Sisu or Coventry investor or employee?

I'm a quantity surveyor by profession, but currently work as a university lecturer. Why do you want to know?

Have you moved on from SMM 7?

[SteveTodd]

SteveTodd
Are you a Sisu or Coventry investor or employee?

I'm a quantity surveyor by profession, but currently work as a university lecturer. Why do you want to know?

Have you moved on from SMM 7?

Yeah we did so years ago, before any measurement books were published using the NRM vol2, so I had to convert all my lectures myself, but they are quite similar. Most of the measurement books have some errors in them anyway, so I would have had to do everything myself anyway, just to be safe. Sounds like you too are a QS or at least a construction professional?

[BG]

QS degree.. but never worked as one

[Neils]

I started on SMM 6 for my sins. Actually started using the SMM where the S stood for Scottish! Several life times ago it seems.

[SteveTodd]

I started on SMM 6 for my sins. Actually started using the SMM where the S stood for Scottish! Several life times ago it seems.

I also started on SMM6 too, the lecturer that I share an office with started on SMM5.