Wasps facing relegation

[Shugs]

Disagree. I actively think we should be treated differently to Worcester. There will be plain evidence that we operate in several different sectors to them. They weren’t unable to do half the things we couldn’t. I’m not interested in being noble and taking the fall because Worcester have. The fact is, as clubs, we’re in hugely different scenarios and that should be recognised.

[Covguy]

I don’t think we should be treated differently to Worcester we should be treated as per rules. Rules which state don’t get relegated if issues linked to COVID. Worcester were run by cowboys, wasps I don’t think is the same. COVID clearly derailed the situation.

[WonkyWasp]

Agreed Covguy.  Is it possible to have a little positivity,  a scrap of hope here gentlemen??  Those trying to prevent a disaster for Wasps etc damned if they do and damned if they don't.  At least they are trying. 

[Shugs]

Agree Wonky - some of the language and insinuation around today is a bit defeatist. Linked to the manner of the defeat I think/hope. We’re far from done and it’s entirely possible we have a way forward.

[Raggs]

If we go into admin, Coventry Council are going to take the stadium back. They've got an interested buyer (two technically if Wasps are rescued) and the rights to sell the lease again. Why would they have any interest in leaving it with Wasps?

[Shugs]

Who is the non wasps interested party?

[Raggs]

Just had it pointed out to me that if Cov Council take the stadium back, there's a rugby stadium that may well have just opened up and will be for sale down the road...

[Shugs]

You’ll have to join the dots for me Raggs.

[Shugs]

Understand it’s Wuss but don’t see a possibility of buying it solvent?

[Marlovian]

According to Sky Sports one bid is headed by David Armstrong. I've met him several times at Adams Park and again in Toulon and La Rochelle. He always came across as a genuine person and I have no doubt that he could a beneficial owner.

wasps-former-chief-david-armstrong-spearheads-bid-for-stricken-premiership-rugby-club

david-armstrong-appointed-as-new-chair-of-the-england-netball-board/

Whether we get relegated or docked 35 points is a different question but our case is different to Worcester in that we have continued to meet our fixture commitments and have, thus far, paid our players and staff. Time will tell....

[wasps]

Can someone remind me of the details behind his departure from Wasps?

[InBetweenWasp]

I don’t think we should be treated differently to Worcester we should be treated as per rules. Rules which state don’t get relegated if issues linked to COVID. Worcester were run by cowboys, wasps I don’t think is the same. COVID clearly derailed the situation.

Hang on, can someone clear up the rules? I thought it was relegation to the deepest, darkest depths of the leagues unless you can prove a no-fault (or whatever the term is) administration.  But that was changed recently to a 35 point in season reduction?

Secondly, are there legal/financial benefits of a team going into Administration prior to a deal being closed? - Jim O'Toole wanted Warriors to get into Admin to get the deal done and I thought i'd read somewhere that one of the bidders/interested parties for us had asked for the same?

[Shugs]

On the first point a 35 point deduction is available if we can prove admin was, in effect, not a consequence of simple poor management. In the second buying in admin may mean you don’t have to “acquire” as much of the debt and also that you may want to pick bits of the business but not others.

[NellyWellyWaspy]

On the first point a 35 point deduction is available if we can prove admin was, in effect, not a consequence of simple poor management. In the second buying in admin may mean you don’t have to “acquire” as much of the debt and also that you may want to pick bits of the business but not others.

But the downside to buying it from an administrator is that all prior contracts are likely to have a termination clause, meaning a lot of legal work to start new contracts. They often cannot be rolled over. That would take weeks, if not months.

The other issue is that the assets (the arena lease, the training site, the player contracts) may be held in different places, meaning you might be able to buy the name, but not the pitch, not the training ground, nor the players.

[Covguy]

I don’t think we should be treated differently to Worcester we should be treated as per rules. Rules which state don’t get relegated if issues linked to COVID. Worcester were run by cowboys, wasps I don’t think is the same. COVID clearly derailed the situation.

Hang on, can someone clear up the rules? I thought it was relegation to the deepest, darkest depths of the leagues unless you can prove a no-fault (or whatever the term is) administration.  But that was changed recently to a 35 point in season reduction?

Secondly, are there legal/financial benefits of a team going into Administration prior to a deal being closed? - Jim O'Toole wanted Warriors to get into Admin to get the deal done and I thought i'd read somewhere that one of the bidders/interested parties for us had asked for the same?

My understanding is that penalties can be avoided if club can demonstrate administration is directly linked to the pandemic.