Wasps facing relegation

[Rifleman Harris]

What I find interesting is the different treatment of rugby to football.  If it were CCFC in administration there is no doubt that (unless they are a complete basket case like Bury) the administrator would find a buyer.  The rumours are that Morecombe will go into administration soon (as collateral damage from Worcester going bust), but there is no doubt in the minds of fans that they will just be sold and carry on, albeit with a points deduction.  Nowhere does anyone think they will be wound up, but here we are being wound up but with probably more prospects on or off the field than a club like Morecombe.  I guess there must be different laws applying to football clubs than normal businesses. 

[jamestaylor002]

I've just messaged my wife saying that I feel like a friend has died, I'm glad there's others feel the same and that I'm not being melodramatic. No, I'm not glad, but you know what I mean!

I did the exact same! Apart from my local grassroots club, I don't think I can follow another club again if Wasps don't come out of this.

[Neils]

Saved in 2014 to fail in 2022.

[DGP Wasp]

I've just messaged my wife saying that I feel like a friend has died, I'm glad there's others feel the same and that I'm not being melodramatic. No, I'm not glad, but you know what I mean!

I did the exact same! Apart from my local grassroots club, I don't think I can follow another club again if Wasps don't come out of this.

Same here.  But I will miss those European weekends.

[DGP Wasp]

Saved in 2014 to fail in 2022.

Alienating a huge number of supporters in the process.  I envy those that turned their backs on Wasps when we headed to Coventry.  It was put to us as move or oblivion.  Turns out it was move and oblivion.

[Garuda]

I'm hearing that our game at Exeter is off.

[Bloke in North Dorset]

I feel more like a good friend has gone in to hospital and the prognosis is not good. All we we can do is sit around and wait for the close family to confirm the expected bad news.
 :'(

[Rifleman Harris]

I'm hearing that our game at Exeter is off.

It is.  We have played our last match.

[JF]

As much as I feel for those whose livelihoods gave disappeared and for myself and fellow Waspies whose rugby needs will no longer be met, I can't help but feel anger at those who have had control of the club going back 25 years or more.

It's been one calamity after another.

[Rifleman Harris]

I see from the BBC that an American billionaire is looking to buy the stadium and CCFC.  I wonder if that is one of the other interested parties?
I guess it is irrelevant now.

[Gaz]

As much as I feel for those whose livelihoods gave disappeared and for myself and fellow Waspies whose rugby needs will no longer be met, I can't help but feel anger at those who have had control of the club going back 25 years or more.

It's been one calamity after another.

A book could be written, if there is to be one let's hope it is done by a supporter rather than let one of the people who 'ran' the club profit.

Very sad day indeed. I tried to follow to Coventry, couldn't for logistical reasons, decided to turn my back on Wasps in about 2015 ish - but have learnt that you just can't switch it off.

Very sad day. Fingers crossed the whole shebang is bought from administration and resurrected by someone who knows what they are doing, with the money to do it.

[DGP Wasp]

As much as I feel for those whose livelihoods gave disappeared and for myself and fellow Waspies whose rugby needs will no longer be met, I can't help but feel anger at those who have had control of the club going back 25 years or more.

It's been one calamity after another.

Let's not forget that despite all of that (and I certainly don't disagree), there have been many, many phenomenally good times thrown in in those years too.

[Sussex Wasp]

I'm just gutted. Been flagging this for years with our incredible £10m annual losses since 2014, been shot down every time. Gives me no pleasure to say it's been coming a long time.
I'm not sure if we are still banned from saying anything negative abut Wasps, but if I am banned it doesn't matter now anyway.
My point is I am amazed no-one here is angry with the useless incompetant Wasps board who has presided over this debacle, Eastwood Vaughan and Richardson in particular.
They have watched the disaster unfurl. £60M losses in 6 years. Waited until we hit the buffers and screwed the bond holders and loyal suppliers, with no plan B in 7 years of clear sight Coventry did and could not work.
Lied to people - quote Richardson recent statement
https://www.coventrytelegraph.net/sport/rugby/wasps-owner-derek-richardson-breaks-24747475
So 160 years of history thrown under the bus. Yes we were going under in 2014, but all we have done is extend the pain whilst ruining our reputation with the financial community and rugby community, and taken money from good people with false promises - virtually nothing in the 2014 bond prospectus came to fruition
I was interested to see what hey had to say tonight, but the Wasps website is down
It's not over, possible we can rise but not with the current 3 bids I am aware of. All three want the stadium and not the  rugby club, even Armstrongs backers are venture capitalists who will be out for a fast buck
For me if we can find a proper rugby backer soon, who can honour the debts to the bondholders, sell the stadium and retain some staff and players, then get us back to within the M25 or near as hell, we can get back into premiership rugby with a future. And an 18,000 capacity stadium

[Peej]

For me if we can find a proper rugby backer soon, who can honour the debts to the bondholders, sell the stadium and retain some staff and players, then get us back to within the M25 or near as hell, we can get back into premiership rugby with a future. And an 18,000 capacity stadium

If doing a lot of heavy lifting there.

This looks like it is it, the professional club is effectively dead. There've been a lot of great times, but what a way for it all to end.

[Hymenoptera]

I'm just gutted. Been flagging this for years with our incredible £10m annual losses since 2014, been shot down every time. Gives me no pleasure to say it's been coming a long time.
I'm not sure if we are still banned from saying anything negative abut Wasps, but if I am banned it doesn't matter now anyway.
My point is I am amazed no-one here is angry with the useless incompetant Wasps board who has presided over this debacle, Eastwood Vaughan and Richardson in particular.
They have watched the disaster unfurl. £60M losses in 6 years. Waited until we hit the buffers and screwed the bond holders and loyal suppliers, with no plan B in 7 years of clear sight Coventry did and could not work.
Lied to people - quote Richardson recent statement
https://www.coventrytelegraph.net/sport/rugby/wasps-owner-derek-richardson-breaks-24747475
So 160 years of history thrown under the bus. Yes we were going under in 2014, but all we have done is extend the pain whilst ruining our reputation with the financial community and rugby community, and taken money from good people with false promises - virtually nothing in the 2014 bond prospectus came to fruition
I was interested to see what hey had to say tonight, but the Wasps website is down
It's not over, possible we can rise but not with the current 3 bids I am aware of. All three want the stadium and not the  rugby club, even Armstrongs backers are venture capitalists who will be out for a fast buck
For me if we can find a proper rugby backer soon, who can honour the debts to the bondholders, sell the stadium and retain some staff and players, then get us back to within the M25 or near as hell, we can get back into premiership rugby with a future. And an 18,000 capacity stadium

Apart from disagreeing with almost every word you wrote...a couple of things.
Your claiming foresight of which almost every rugby supporter already knows, they all run at huge losses, so you're foresight isn't unique as much as you claim it to be.
I am not sure we'd be here if Covid hadn't gutted our financial model for 2 years, not just in in-flow but decemated in out-flow..
Related to the taking money from good people - purchasing a staggering 6.5% return bond is no different to buying ultra high risk stocks. If you know anything about finance, you'll know what I am saying.