Always a Wasp

Author Topic: Worcester  (Read 25760 times)

Neils

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Re: Worcester
« Reply #180 on: October 06, 2022, 10:05:38 AM »
In The Guardian.

Worcester Warriors: the inside story of a rugby club’s demise


https://www.theguardian.com/sport/2022/oct/05/worcester-warriors-the-inside-story-of-a-rugby-clubs-demise

Reading this, I am so happy I never wanted to be a 'business man'. The convoluted devious minds these people have :o :o :o

This is a sad read.
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Neils

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Re: Worcester
« Reply #181 on: October 06, 2022, 10:28:38 AM »
From today's Telegraph



Steve Diamond, Worcester Warriors' director of rugby, denounced "English rugby's darkest day" on Wednesday as the company responsible for paying the West Midlands club's players was liquidated in a brutal 22-second High Court hearing.

On a day of high emotion, during which the stricken club were left on the brink of expulsion from the Gallagher Premiership, Diamond, alongside Worcester captain Ted Hill, took aim at the game's administrators, accusing Premiership Rugby and the Rugby Football Union of standing idly by as “a tragedy of professional rugby” unfolded.

In response to a 58-word statement from Simon Massie-Taylor, the Premiership Rugby chief executive, Hill simply said: "Your 'thoughts' aren’t what was needed."

“This is the darkest day for English rugby," Diamond added. "We thought we could turn the tanker around but it’s ended up like the Titanic, sadly.

“The ship has sunk, the captains are nowhere to be seen. The RFU/PRL band played in the background. There are a privileged few who have jobs but there are so many left without them.

“Players, coaches, commercial staff I am sorry. I said a while back that this could be a tragedy of professional rugby union and that is where we are.” Nick Easter, the Warriors' defence coach, also accused the club's co-owners, Colin Goldring and Jason Whittingham, of being "cowards".

Worcester's liquidation at the the High Court, for which the club had no representation, was finalised in 22 seconds on Wednesday afternoon, after which the RFU confirmed that it will "continue to speak to the administrators, and potential buyers, over the next 24 hours to understand the possibility of a buyer taking over the club in time for the men’s team to participate in the Premiership during the 2022-23 season."

It is understood, however, that this remains unlikely, with Worcester's best-case scenario seemingly reintegrating into the Championship at the beginning of next season, with definitive clarity expected in the next few days. Premiership chiefs were locked in long negotiations with the administrators on Wednesday night.

"We are also liaising with the administrators in relation to discussions with potential funders, which may enable the University of Worcester Warriors women’s team to continue in the Allianz Premier 15s even if the men’s team cannot continue to participate this season," Bill Sweeney, RFU chief executive, added.

"This is a very sad day for rugby in England. Our thoughts are with all of the Worcester Warriors players, staff and supporters."


Should Worcester, as expected, be expelled from the Premiership, then a fresh row over their lucrative P share, worth £9 million, will be triggered.

That share entitles them to a percentage of top-flight revenues, including television money, even if they are in the Championship, but their rivals could now seek to strip them of it.

Telegraph Sport understands that preliminary investigations are ongoing among clubs to determine whether a clause in the Premiership’s regulations would allow Worcester's P share to be redistributed among the clubs for a symbolic £1 due to Worcester's administration status, although it is understood that the shares have a set rate and that any re-sale would go towards the repayment of HMRC debt.

A number of Worcester players, some of whom assembled at Sixways on Wednesday for one final training session, have already attracted the interest of other Premiership clubs, while Duhan van der Merwe, the Scotland wing, has agreed a move to Edinburgh. Joe Batley, Andrew Kitchener and Alex Hearle are thought to be subject to interest from London Irish, with both Saracens and Northampton looking at hooker Curtis Langdon.

 The Saints have also explored the possibility of fly-half Fin Smith expediting his move which was due to start at the beginning of the 2023-24 season. Prop Santiago Medrano has also been courted by several Premiership clubs.

"A ridiculously emotional day," Batley said after the final training session at Sixways. "We had seen it coming but with it actually being here now... it's a whole different story, isn't it.

"It still hit just as hard. We arrived at 9am on Wednesday morning and we stayed until 12. The mood changed massively when the news came in. Being together again, we did some fitness so that we're still sharp for whatever happens next. It was a sombre atmosphere by the end; a lot of high-fives, handshakes and hugs.


"We're not sure what this means for each individual. After going through everything together we each now have to go our separate ways and do what's best for each of us. That's us done. We have nothing to go in for."

Massie-Taylor said on Wednesday: “The thoughts of everyone at Premiership Rugby are with the players, staff and fans of the Warriors on what is another distressing day for everyone involved with the club.

“This is a sad day for rugby – the Warriors have been a huge part of the Premiership since Cecil Duckworth CBE led them to their first promotion in 2004.”

Earlier on Wednesday, Telegraph Sport revealed that Julie Palmer, of Begbies Traynor, the joint administrators of Worcester, had admitted that a takeover was “unlikely” to be concluded in the coming days.

Takeover talks for Worcester Trading Ltd will continue but Palmer conceded any transaction was “sufficiently complex” to prevent a deal being struck in time for the club to retake the field for their Premiership Rugby Cup fixture against Exeter Chiefs on October 19 and their Premiership game at Bristol three days later.

Telegraph Sport understands, too, that hopes of the land situated on the outskirts of Sixways being included in any takeover deal are growing, a stipulation that was considered vital to Jim O'Toole's consortium.
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mike909

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Re: Worcester
« Reply #182 on: October 06, 2022, 11:06:05 AM »
In The Guardian.

Worcester Warriors: the inside story of a rugby club’s demise


https://www.theguardian.com/sport/2022/oct/05/worcester-warriors-the-inside-story-of-a-rugby-clubs-demise

Reading this, I am so happy I never wanted to be a 'business man'. The convoluted devious minds these people have :o :o :o
+1

It seems it must be a well worn road - the pissing about with a multitude of companies to make finding a true position for an "entity" as hard as possible. Whilst presumably, aiming to obtain max tax advantage.

hookender

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Re: Worcester
« Reply #183 on: October 06, 2022, 11:26:02 AM »
What is this fuss about P shares?. As I see it , if a club is not in the Premiership for a certain time, they can be made to sell , if a club replacing them ,can afford them at the normal market rate. So whoever is next promoted should have first call on them. If they can’t afford them then whichever company owns them keeps them until a club can, as has happened in past. Possibly a charge could be put on the shares so that the dividend goes to Creditors?

 If Hmrc / administrators wants to force an early sale, they would want market value ,so how can this talk of selling back to Other shareholders at a nominal price be correct? Which of the many companies actually has ownership? Is it the one in  administration?

jamestaylor002

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Re: Worcester
« Reply #184 on: October 06, 2022, 06:29:36 PM »
So, it's been announced on BBC Sport that Worcester have now been suspended from this season and will be relegated.

Assuming the situation with us improves, where does this leave us for our Christmas game!? I assume it doesn't happen now.

Westy68

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Re: Worcester
« Reply #185 on: October 06, 2022, 06:36:50 PM »
From the BBC

Financially stricken Worcester Warriors have been suspended for the rest of the Premiership season and will be relegated from the top tier.

The decision was taken by the Rugby Football Union's (RFU) club financial viability group to give time to find an investor and the "best chance for a long-term sustainable future".

Worcester players and staff had their contracts terminated on Wednesday when part of the club was wound up.

The club can appeal their relegation.

To be successful, the Warriors would need to show there was no fault for the insolvency event.

As well having their Premiership campaign ended, the suspension sees them kicked out of the Premiership Rugby Cup.

"As the club no longer has staff and players on contract, and with many seeking alternative employment, the decision has been made to focus on how the club can be viable over the long term," the RFU said in a statement.

It added that the club's administrators, Begbies Traynor, "are in discussions with several potential investors and it is expected they will also be planning for long-term sustainability".

The RFU also said work is ongoing with an unnamed potential investor to ensure the University of Worcester Warriors women's team can continue competing in the Premier 15s for the remainder of the season.

Westy68

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Re: Worcester
« Reply #186 on: October 06, 2022, 06:39:31 PM »
Will the league really not redo the fixture list, do Exeter and Irish have the 5 points taken away from them

MarleyWasp

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Re: Worcester
« Reply #187 on: October 06, 2022, 07:13:15 PM »
Will the league really not redo the fixture list, do Exeter and Irish have the 5 points taken away from them

I think the remaining fixture list will need to be redone and previous matches removed.

NellyWellyWaspy

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Re: Worcester
« Reply #188 on: October 06, 2022, 07:29:39 PM »
Will the league really not redo the fixture list, do Exeter and Irish have the 5 points taken away from them

I think the remaining fixture list will need to be redone and previous matches removed.
Re-doing the fixture list would cause chaos, with a few teams already having had bye weeks, and those who have played or had their matches with Worcester already 'played'.

It may end up with teams getting 4 byes this year, but two clubs getting only three. An utter mess.

Neils

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Re: Worcester
« Reply #189 on: October 06, 2022, 08:08:27 PM »
Sounds like they might be re-doing the league. You would think they would wait for us to go too.
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Vespula Vulgaris

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Re: Worcester
« Reply #190 on: October 06, 2022, 09:24:55 PM »
And what of any injuries that happened playing against a club that no longer exists?

Will a club be compensated for losing a player in a game that gained them nothing?
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Heathen

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Re: Worcester
« Reply #191 on: October 06, 2022, 10:31:53 PM »
Just looked the table. Newcastle, with the Wuss result expunged, will now go above us in the table on points difference

DGP Wasp

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Re: Worcester
« Reply #192 on: October 06, 2022, 11:41:21 PM »
And what of any injuries that happened playing against a club that no longer exists?

Will a club be compensated for losing a player in a game that gained them nothing?

Not sure how that would make a difference. Injuries happen in the game, whether or not that game is ultimately meaningful or not. The club will be covered by its own insurance regardless, so the future viability of that opponent is irrelevant.

What if a player is injured in a pre season game? Or a dead rubber at the end of the season? Or a Barbarians match?

DGP Wasp

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Re: Worcester
« Reply #193 on: October 06, 2022, 11:44:06 PM »
Will the league really not redo the fixture list, do Exeter and Irish have the 5 points taken away from them

I think the remaining fixture list will need to be redone and previous matches removed.

I think any decision on rejigging the season and removing points from matches already played will be on hold until Wasps' plight becomes a little clearer.

wasps

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Re: Worcester
« Reply #194 on: October 07, 2022, 02:49:03 AM »



They won't rejig the league games.
As suggested, if we go under they'd have to do it again
There's supposedly 2 other clubs in a similar financial position, so there may be a need for further rejigging too.




In the end, I suspect the powers that be will spin it as player welfare and say that clubs will get more off weeks when they were scheduled to play Worcester (and maybe us)