Afternoon all. Long time lurker, first time poster. Be gentle...
Largely in agreement with the school of thought that, while there are rumours and discussions about the finances, the underlying business has to be sound. Let's not forget that a lot of the income streams were predicated on multiple large scale concerts through the close-season, along with events and conferences in the arena facilities.
That all got Covid-ed.
With a return to normality there will no doubt be work happening to attract acts to the CBSA next Summer. As proved this Summer with Rammstein, the facilities are there for big shows, and having a list of acts previously hosted including Bon Jovi, Bruce Springsteen, Spice Girls et al can't hurt. Additionally conferences and events will be being arranged and the facilities booked.
None of this helps with immediate cashflow, but taking a step back and looking at the macro picture it doesn't look too gloomy. The season starting, bums on seats - for both the football and rugby clubs - will kickstart the cashflow and hopefully unstick whatever levers are required.
You can't take the bond issue in isolation. Yes, targets weren't hit and options are no doubt being investigated and may well not be where they should be - but being realistic - Covid messed up the finances of so many businesses that one can hardly consider Wasps an outlier. Bondholders will accept the delay, because its the only way they'll see a return on their investment.
So, overall I'm optimistic that we'll have a club to support and faith that the relevant people are doing their jobs while we all chinwag about what we think they should be doing.
I promise all my posts won't be this serious.