Wasps facing relegation

[Neils]

Does anyone know if they have actually removed the P Share from Warriors?

Not yet. However they valued it at £9.8m to allow the taxman to be paid off if more funds are needed (and they appear to be needed)

[DanJester]

Hearing there are increasing concerns about two more Prem clubs financial situation.

If TPTB step in, surely they'd have to step in for all of those affected? Might be some hope. Of what, I'm not sure yet.

[Bloke in North Dorset]

Does anyone know if they have actually removed the P Share from Warriors?

Not yet. However they valued it at £9.8m to allow the taxman to be paid off if more funds are needed (and they appear to be needed)

They might be valued at £9.8m but they only worth what someone will pay for them and you’ve got to wonder who’ll pay that money? PRL to get them back? The other clubs jointly and severally to increase the book value of theirs and to ensure nobody else joins the cosy club?

That’s probably why there’s been no rumours about the PRL “taking them back”.

[Neils]

Does anyone know if they have actually removed the P Share from Warriors?

Not yet. However they valued it at £9.8m to allow the taxman to be paid off if more funds are needed (and they appear to be needed)

They might be valued at £9.8m but they only worth what someone will pay for them and you’ve got to wonder who’ll pay that money? PRL to get them back? The other clubs jointly and severally to increase the book value of theirs and to ensure nobody else joins the cosy club?

That’s probably why there’s been no rumours about the PRL “taking them back”.

It was said the joint clubs, thus PRL, would purchase them. This to keep an enclosed product.

[Bloke in North Dorset]

Does anyone know if they have actually removed the P Share from Warriors?

Not yet. However they valued it at £9.8m to allow the taxman to be paid off if more funds are needed (and they appear to be needed)

They might be valued at £9.8m but they only worth what someone will pay for them and you’ve got to wonder who’ll pay that money? PRL to get them back? The other clubs jointly and severally to increase the book value of theirs and to ensure nobody else joins the cosy club?

That’s probably why there’s been no rumours about the PRL “taking them back”.

It was said the joint clubs, thus PRL, would purchase them. This to keep an enclosed product.

Where are they getting £20m for Wasps and Worcester P shares from? And if rumours are true they'll need another £20m soon.

If they've got that sort of money they should have been helping clubs out and investing in the product of rugby. The phrase no honour amongst thieves sprang to mind as I typed that, can't think why.
 

[Rifleman Harris]

Who can actually buy the P shares. Does it have to be a rugby club (why anyone else would want them I have no idea)?  If it's only rugby clubs then it is doubtful that they are worth much...who would want one?

[Andywasp50]

I think another couple of clubs going to the wall would suit Baxter and co perfectly if they want a reduced league. I bet they can’t wait to take our P share away and ringfence their new clique.

I fear their self interest is at the expense of the wider game in England. I wonder if they’ve considered reduced TV revenues and a niche sport where internationals at Twickenham become corporate jamborees with no atmosphere.

The French Top 14 doesn’t seem to suffer as a result of club numbers and such elitism. If we found a buyer and got ourselves on a proper footing I wonder what would happen if we managed to join the Celtic competition, maybe with the likes of Worcester and others. That would put the cat amongst the pigeons…

[Rossm]

I don't know if this has already been posted (afraid I can't keep up). The article below shows the sort of knock on financial effect that losing two sides from the league can bring.

11-team league leaves Leicester without a home game for 50 days

https://www.rugbypass.com/news/11-team-league-leaves-leicester-without-a-home-game-for-50-days-premiership/

Ominously, Tigers next home game after this break is Irish on Sunday, November 27th.

[Rifleman Harris]

 I suspect if you have 4 clubs going into admin then very quickly there will be others.  Gloucester said they would lose $350k from the missed Worcester game, that is a potential £1.4m loss in revenue for teams that haven't played any of the 4 teams in trouble.  That would be a serious setback for anybody's finances and could put others in difficulty.  I can see Baxter's idea of a 10 team Premiership being a bit of a dream. 

[jamestaylor002]

For what my opinion is worth, it's easy for Baxter to make such comments when your club is sitting cosy financially because owner and sponsor are one and the same.

[St Bruno]

Rifleman Harris,
The £350k loss was of match-day revenue, not an overall loss. They'd save on avoiding match-day operating costs, which would be substantial.

[Heathen]

I think another couple of clubs going to the wall would suit Baxter and co perfectly if they want a reduced league. I bet they can’t wait to take our P share away and ringfence their new clique.

I fear their self interest is at the expense of the wider game in England. I wonder if they’ve considered reduced TV revenues and a niche sport where internationals at Twickenham become corporate jamborees with no atmosphere.

The French Top 14 doesn’t seem to suffer as a result of club numbers and such elitism. If we found a buyer and got ourselves on a proper footing I wonder what would happen if we managed to join the Celtic competition, maybe with the likes of Worcester and others. That would put the cat amongst the pigeons…

Could we do that? As an affiated RFU club they would probably veto it.

[Rifleman Harris]

Rifleman Harris,
The £350k loss was of match-day revenue, not an overall loss. They'd save on avoiding match-day operating costs, which would be substantial.

Ahh I misread that.  I thought it was a loss of profit.  Even so I guess there will be longer periods where there is no income and still expenditures so that won't help...unless they do what used to happen in football (and may well still do in the lower leagues) and only pay the players through the season and then compress the season.

[Westy68]

For what my opinion is worth, it's easy for Baxter to make such comments when your club is sitting cosy financially because owner and sponsor are one and the same.

It would be interesting to hear his comments if Exeter were in trouble

[Neils]

For what my opinion is worth, it's easy for Baxter to make such comments when your club is sitting cosy financially because owner and sponsor are one and the same.

It would be interesting to hear his comments if Exeter were in trouble

Or if Exeter were last men standing