Wasps facing relegation

[NellyWellyWaspy]

It might only be the proverbial stone's throw down the road (3-4 miles as the crow files, 5 miles down the motorway), it is in Warwickshire - Rugby - for planning purposes.

[Westy68]

So supposedly we have 5 interested parties but only know of 3. Haven't the other 2 be going a lot longer and surprised we haven't heard anything about them.

Also why do coventrylive keep saying Wasps have until Monday to sort things out, I thought it was Wednesday 19th

[NellyWellyWaspy]

So supposedly we have 5 interested parties but only know of 3. Haven't the other 2 be going a lot longer and surprised we haven't heard anything about them.

Also why do coventrylive keep saying Wasps have until Monday to sort things out, I thought it was Wednesday 19th

Why? Who knows? Maybe they can't count or use a calendar? Maybe there is a critical payment that has to be made, like to HMRC?

As to why, I think that those bids we have heard of has been due to leaks from them, not from Wasps. The other two parties, if they exist, may be better at keeping mum.

[Rifleman Harris]

So supposedly we have 5 interested parties but only know of 3. Haven't the other 2 be going a lot longer and surprised we haven't heard anything about them.

Also why do coventrylive keep saying Wasps have until Monday to sort things out, I thought it was Wednesday 19th

Radio 5Live were saying this morning that there is a Winding Up petition in the court on Monday.  I guess that is why...whether it is accurate or not is another thing.

[NellyWellyWaspy]

Whilst in the current process, the Court will stay any order it makes. So, the Court can (will) make the winding up order, but stay execution until the current process is complete. Should Wasps not pay its debts by next Wednesday, or fail to go in to administration, the petitioner would come back and have that stay removed. Probably HMRC turning up the heat. It is preferable not to have that made on Monday, so Wasps now have less time. Remember, Wasps can only go in to administration (in the current circumstances if a buyer has agreed to stump up the money already, but all that is needed is time). So, if a buyer is at that point by Sunday, they would likely have to directly fund the payment on Monday to stave off that creditor. Personally, I don't see it happening. It is all too late and hurried.

Makes me wonder if CCFC will be able to play their game next Wednesday evening?

[Bloke in North Dorset]

We are in a different position to Worcester.

Firstly, apart from HMRC and the bond holders, who are still getting interest payments, there isn't a trail of unpaid suppliers and partially or unpaid paid staff and players. Our management team have, from what we can see, acted in good faith with the best interests of the business and club in mind at all times and appear to have credibility with potential buyers and financers. I also assume they've been open with PRL.

By the end the owners of Worcester had a trail of unpaid suppliers and little credibility with anyone so winding up was the only option and the company holding the players contracts was liquidated  so no longer exists and therefore no team. Nobody stepped forward immediately after wards to pick up the pieces and that meant there's nobody to fulfil the fixture list. Its too late now as the team is scattering on the wind so PRL had little option but to suspend and relegate them, whoever "them" is.

I think its doubtful they'll be in a position to play in the Championship the way things are going. They've got to put a credible plan and team together and convince TPTB that they will be able to fulfil any obligations if they are allowed in to the Championship and presumably the other clubs get a say on whether they are allowed in.

If we go in to administration the Administrator can look at the finances, he's probably doing that now, and if he decides there's still a viable operating company that can fulfil its obligation while a sale is finalised or debts restructured he could ask the judge  to allow him time to finalise whatever deal is most likely. Or of course it could be a straight forward pre-pack.

OK, those are big ifs, but going in to administration is not an automatic winding up and sacking of players and staff. Although to be fair if I was a player of member of staff I would be looking for alternative employment.

None of that is to say we won't get relegated if we come out of administration in some form or other, that's a different argument and I don't know enough to even form an opinion.

[hookender]

So supposedly we have 5 interested parties but only know of 3. Haven't the other 2 be going a lot longer and surprised we haven't heard anything about them.

Also why do coventrylive keep saying Wasps have until Monday to sort things out, I thought it was Wednesday 19th

Presume this wasn’t one of the other interested parties? No mention of wasps in purchase . Interesting that it says SISU aren’t actively looking to sell CCFC, but I guess if price was right…

https://www.bbc.co.uk/sport/football/63219478

[Shugs]

I wouldn’t worry too much about the credibility of that one to be honest.

[Skippy]

Re the Jack Wills lines earlier, a rugby tie up would seem to sit well the brand and might not do it any harm.

[Neils]

Heineken reported to have removed stock

[Neils]

https://www.rugbypass.com/news/wasps-as-we-know-it-very-unlikely-to-continue/

[Shugs]

Heineken reported to have removed stock

Every cloud. A foul brew!

[Shugs]

https://www.rugbypass.com/news/wasps-as-we-know-it-very-unlikely-to-continue/

Yeah, next 48 hours s**t or bust i think. Who knows how / if we’ll emerge.

[Andywasp50]

The sharks are circling by the looks of it and I can’t see we’re going to come out of this as Wasps as we know it. Totally gutting and I’m barely able to get my head round it.

For the RFU and Premiership to allow a famous club like Wasps to go to the wall is damning on them and quite frankly, if this happens then that’s me done with the sport - it’s a shameful reflection on the bodies and competition themselves. Any competition that loses two clubs from its elite tier in a season has something wrong with it. This is the start of the rot and we won’t be the last I fear. The RFU and GP need to own their failure in all of this.

A lot of is down to Covid and with Saracens amazingly being able to sign a couple of ex-Worcester players today, it beggars belief on how the main body and league have been so soft on cheating whilst allowing other clubs to go to the wall. I feel enraged by the way the Cheats were allowed to keep their falsely won titles which should have gone to the respective runners up, went through the motions of a relegation whilst in the meantime being allowed to loan players out for a season to prem clubs, and retain their P share when it should have been stripped from them. If we are playing in a competition that so biasedly protects the interests of one club and metes out hard and fast punishments over any of the others, then it can keep it. I wonder who is actually running the league? For ruling bodies to be a doormat to the self interest on a single entity is shocking. I don’t remember Lance Armstrong being allowed to keep his titles and sit out the tour for a year, only to return next time round and carry on. This kind of culling of clubs will ultimately hit TV revenues, gate revenues, the English game’s standing in Europe, the England team and player development and the reputation of it’s credibility here. The ultimate cull will end in a few clubs playing a minority sport - and perhaps that’s what it will deserve.

If they have any sense then they would deduct 35 points from us and let us stay in the GP and begin again next year. No one at Wasps has cheated and I feel we’ve earned the right to a second chance.

[WonkyWasp]

I feel dreadful.  Heaven knows how the players and staff all feel.