Worcester

[SBSam]

And the club with the biggest debt is Wasps. £112m total, £9.5m of which is to HMRC.

[Neils]

And the club with the biggest debt is Wasps. £112m total, £9.5m of which is to HMRC.

Note - unlike the rest Wasps figures are on the complex entity not the rugby club like the other clubs generally.  Big figure.

[Shugs]

Big figure if correct.

[Vespula Vulgaris]

I'm reliably informed that the figures quoted aren't accurate.

[WonkyWasp]

Someone somewhere is as bad at maths as I am.  By the sound of it a great deal worse.

[BarossaD]

Premiership clubs rack up more than £500MILLION in debt https://mol.im/a/11177209 via https://dailym.ai/android

Not looking good across the board.

Another article has the LI owner offering to give away the club for free.

Total debt without total assets is pretty meaningless - I’d be interested to see a complete table. But anyone that describes deferred tax as a ‘tax debt’ (it’s not) isn’t that savvy in that department.

[Bloke in North Dorset]

Is this the table you are after?

https://twitter.com/rreesrugby/status/1566352816796581888?s=21&t=OasKNtkCCVWpfUH_oobxEQ

If that figure is true then as the old saying goes, Wasps aren’t in trouble, the banks are.

[SBSam]

Is this the table you are after?

https://twitter.com/rreesrugby/status/1566352816796581888?s=21&t=OasKNtkCCVWpfUH_oobxEQ

If that figure is true then as the old saying goes, Wasps aren’t in trouble, the banks are.

So which bank is willing to lend to cover the bond repayments. It’s not new debt (if assuming is just the £35m) but presumably wouldn’t be interest only, as the bonds were (until redemption date). At 10% pa interest with repayment over 40 years, it would cost an additional £1.3m pa. That’s a lot of money given the current annual losses.

[Shugs]

That’s assuming the whole £35m is being borrowed. Reality is most sports teams now live way outside of their income and rely on benefactors. It’s just rugby’s turn in the spotlight.

[SBSam]

Shugs, do you think DR is going to put more money in? He has already loaned £18m.

[Vespula Vulgaris]

Firstly that figure is not accurate, not even close in reality. And yes Derek is committed to the future of the club. Or at least he was this morning.

[Shugs]

Shugs, do you think DR is going to put more money in? He has already loaned £18m.

I don’t think he’ll need to.

[WonkyWasp]

Plus 1, big time.

[SBSam]

I wonder where the balance of £35m is going to come from if not entirely a loan then. Sale of equity perhaps?

[Heathen]

Firstly that figure is not accurate, not even close in reality. And yes Derek is committed to the future of the club. Or at least he was this morning.

That is reassuring!!!!