Wasps must 'find £2 million in 20 days' to avoid administration.

[Rossm]

overseas buyer interest reported

Further details have emerged regarding Wasps' financial predicament

From Bobby Bridge.

https://www.coventrytelegraph.net/sport/rugby/wasps-must-find-2-million-25088354

[Rossm]

For the first time in ages, I've bought a lottery ticket £169 million in the Euro jackpot this evening.

[WonkyWasp]

Ross - I and our daughter have been doing that for several years for the same reasons as you!  Good luck buddy     

[NellyWellyWaspy]

That article said Wasps were blindsided by the HMRC decision to file for a winding up order.

In one of my replies a few weeks ago, I wondered at what Wasps meant by 'good relationship' with HMRC. I said at the time, you only have a good relationship with them if you pay up on time. If you don't, they quickly turn to Court action. Always. No exceptions. I wondered how Wasps thought they would be an exception. Turns out, I was right, they are not.

What is an overseas buyer? Someone born outside the UK, or someone living outside the UK? If it is a business, I presume based outside the UK, but then so many are, in places like Bermuda (like SISU). almost all uber rich Britons live abroad to avoid tax. So, I gues it COULD be a Brit living abroad. Either way, an overseas buyer is a really big pool to choose from.

[Neils]

For the first time in ages, I've bought a lottery ticket £169 million in the Euro jackpot this evening.

I am sitting in the Eastern Med and got a won ticket on Tuesday but I don't think £3.20 will do. But maybe tonight.

[Raggs]

Aren't our debts meant to be something ridiculous in total? Sure the euro millions would cover it, but for how long?

[Neils]

Aren't our debts meant to be something ridiculous in total? Sure the euro millions would cover it, but for how long?

Might get a game or two more.

[Heathen]

Aren't our debts meant to be something ridiculous in total? Sure the euro millions would cover it, but for how long?

£60.5M was the number being quoted.

Now more info seems to be forthcoming, I fancy that we will be OK.

[Vespula Vulgaris]

Finding £2M is a lot more achievable than finding £60M. I suspect we'll manage that, but is it just kicking the can a little way down the road...

[baldpaul101]

No one is going to buy wasps, lend Wasps money or otherwise invest in wasps without seeing some kind if business plan that shows some ability to function without huge losses as some point in the future.
If that plan doesn't exist or is unrealistic then why would anyone other than a super fan wanting an ego project or someone who can see a potential money making opportunity no one else has seen will want to get involved.
We had Steve Hayes who thought he saw a way of forcing a property deal through, that didn't work out well. Then we had Derek who thought he saw a way to finance the rugby with other businesses. Again that hasn't really gone to plan has it? ( although if no rows about CCFC use & the pandemic, I guess it might of done, we'll never know)

[Rugbyintheblood]

Thinking about generating income from concerts …..

Anybody know how much income/profit we got from the Rolling Stones concert a few years ago?

I went with a bunch of mates and it looked like there were 40k people there, as we were all on the pitch and all the seats taken.

[Rugbyintheblood]

Look I know it didn’t end well (pitch gate) but having the Commonwealth Games 7’s running was a great idea as a Summer income generator.

We clearly need more events in the CBSA, alongside the rugby and footie.

I’m sure without COVID things would not hv been as bad.

[Vespula Vulgaris]

Thinking about generating income from concerts …..

Anybody know how much income/profit we got from the Rolling Stones concert a few years ago?

I went with a bunch of mates and it looked like there were 40k people there, as we were all on the pitch and all the seats taken.

I remember reading something a while ago that revenue from a decent concert was well into 6 figures.

[Westy68]

Pretty sure the arena was losing money before Covid. Also doesn’t the stadium need money spending on it, I heard it from some where, not sure where.

Hopefully the arena will generate enough money

[Bloke in North Dorset]

Look I know it didn’t end well (pitch gate) but having the Commonwealth Games 7’s running was a great idea as a Summer income generator.

We clearly need more events in the CBSA, alongside the rugby and footie.

I’m sure without COVID things would not hv been as bad.

With CCFC now playing there the closed season is even shorter and with what happened after the Commonwealth Games they can’t risk a concert too close the the soccer season starting. It’s a very narrow window for concerts now.

Hopefully the guaranteed income from CCFC more than offsets any windfalls from concerts.