BB - Administrator Confident

[NellyWellyWaspy]

... and there you go ...

Wasps WILL be sold, for a relatively small sum. Because, with what will be remaining in a month, that will be all it will be worth.

Nobody will buy it until the CBS is sorted one way or the other, and I expect that to take weeks. In any case, what's the rush? We can't play any pro matches now until next season.

Find a new owner is task #1. It will have to be cheap, and the new owner will have to have deep pockets even for a team to play in the Championship. If the CBS Arena isn't available to us, and I doubt it will be, it will take quite a few years to find/build a new home, so I am not sure we could even play in the Championship. We may end up a long way down, giving the club plenty of time to grow and build.

From a lion to a mouse.

Serious question, what's being sold? I can't think of any serious assets other than the name and I'm not convinced that has any brand value at the moment. Maybe there's some kit and other stuff and that might have some memorabilia value but I don't understand what's for sale if there's no P share.

The name, yes. And the possible position in the Championship (with an opportunity to get back to the Premiership). Pretty sure some Championship side are up for sale for peanuts though, which is why, without the P share, any sale price will be very low.

[InBetweenWasp]

If a deal is concluded quickly, you also have the nucleus of the squad and so have a much more competitive squad than buying a cheap Championship club and having to build.

Would require deep pockets though (for rugby).

[Marlovian]

I believe (and am happy to be corrected) that Ealing are the only fully professional team in the Championship.

[NellyWellyWaspy]

If a deal is concluded quickly, you also have the nucleus of the squad and so have a much more competitive squad than buying a cheap Championship club and having to build.

Would require deep pockets though (for rugby).

For the players that want to stay, yes, but some will leave just to stay in the Premiership (anybody who has England hopes). Plus, no new owner will pay big bucks. Especially not for the remainder of this season, where the only games will be 'friendlies'.

[Bloke in North Dorset]

If a deal is concluded quickly, you also have the nucleus of the squad and so have a much more competitive squad than buying a cheap Championship club and having to build.

Would require deep pockets though (for rugby).

They're all out of contract. If you have the money just go direct.

Steven Vaughn indicated that they are offering some players the option of a contract next year with them being free t find a team in the interim.

[Bloke in North Dorset]

... and there you go ...

Wasps WILL be sold, for a relatively small sum. Because, with what will be remaining in a month, that will be all it will be worth.

Nobody will buy it until the CBS is sorted one way or the other, and I expect that to take weeks. In any case, what's the rush? We can't play any pro matches now until next season.

Find a new owner is task #1. It will have to be cheap, and the new owner will have to have deep pockets even for a team to play in the Championship. If the CBS Arena isn't available to us, and I doubt it will be, it will take quite a few years to find/build a new home, so I am not sure we could even play in the Championship. We may end up a long way down, giving the club plenty of time to grow and build.

From a lion to a mouse.

Serious question, what's being sold? I can't think of any serious assets other than the name and I'm not convinced that has any brand value at the moment. Maybe there's some kit and other stuff and that might have some memorabilia value but I don't understand what's for sale if there's no P share.

The name, yes. And the possible position in the Championship (with an opportunity to get back to the Premiership). Pretty sure some Championship side are up for sale for peanuts though, which is why, without the P share, any sale price will be very low.

That's what I find confusing. Presumably the Administrator is talking about selling them "if" they get the P share. I suppose he is legally obliged to try but he's wasting creditors' money from what we can tell.

[Shugs]

He’s obliged to sell anything he can for the best price he can get to service creditors. The P share won’t be part of that as it defaults back to the PRL on administration. A bigger slice of a smaller pie for “the 11”. We’re really looking at someone wanting to buy us for the love of the club. It’s a tough sell. Rest of this season - inactivity. Next season - championship. No guarantee of finishing top and let’s not forget there is no guarantee promotion will even be a thing. Season after - you’re potentially back in the top tier - where those without a benefactor regard breaking even as a real achievement. As a business opportunity it’s not attractive. As s labour of love it’s possible.

[wasps]

He’s obliged to sell anything he can for the best price he can get to service creditors. The P share won’t be part of that as it defaults back to the PRL on administration. A bigger slice of a smaller pie for “the 11”. We’re really looking at someone wanting to buy us for the love of the club. It’s a tough sell. Rest of this season - inactivity. Next season - championship. No guarantee of finishing top and let’s not forget there is no guarantee promotion will even be a thing. Season after - you’re potentially back in the top tier - where those without a benefactor regard breaking even as a real achievement. As a business opportunity it’s not attractive. As s labour of love it’s possible.

And then we're back to square 1.
Who loves Wasps enough and has deep enough pockets to make it work?


There wasn't anyone 8 years ago.
If there is some white knight to save us, where were they last time?

[Vespula Vulgaris]

If a deal is concluded quickly, you also have the nucleus of the squad and so have a much more competitive squad than buying a cheap Championship club and having to build.

Would require deep pockets though (for rugby).

They're all out of contract. If you have the money just go direct.

Steven Vaughn indicated that they are offering some players the option of a contract next year with them being free t find a team in the interim.

This puzzles me more than anything else.  Vaughan was made redundant too, how can he offer anyone anything?

[hookender]

If a deal is concluded quickly, you also have the nucleus of the squad and so have a much more competitive squad than buying a cheap Championship club and having to build.

Would require deep pockets though (for rugby).

They're all out of contract. If you have the money just go direct.

Steven Vaughn indicated that they are offering some players the option of a contract next year with them being free t find a team in the interim.

This puzzles me more than anything else.  Vaughan was made redundant too, how can he offer anyone anything?

Has he ?. Wasn’t there mention of a few staff being retained to assist. May still be involved with the companies still operating.

[Shugs]

If a deal is concluded quickly, you also have the nucleus of the squad and so have a much more competitive squad than buying a cheap Championship club and having to build.

Would require deep pockets though (for rugby).

They're all out of contract. If you have the money just go direct.

Steven Vaughn indicated that they are offering some players the option of a contract next year with them being free t find a team in the interim.

This puzzles me more than anything else.  Vaughan was made redundant too, how can he offer anyone anything?

Exactly. My assumption is we have no one doing anything as we have no staff. But collective terms are being used. Notice periods?? Not at all sure.

[Bloke in North Dorset]

If a deal is concluded quickly, you also have the nucleus of the squad and so have a much more competitive squad than buying a cheap Championship club and having to build.

Would require deep pockets though (for rugby).

They're all out of contract. If you have the money just go direct.

Steven Vaughn indicated that they are offering some players the option of a contract next year with them being free t find a team in the interim.

This puzzles me more than anything else.  Vaughan was made redundant too, how can he offer anyone anything?

Exactly. My assumption is we have no one doing anything as we have no staff. But collective terms are being used. Notice periods?? Not at all sure.

When it happened to me, twice, no notice periods. You’re contract is ended because there’s no money to pay you the notice period. All you get is statutory redundancy payments.

[hookender]

Some admin staff have been retained.

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjshumhyur6AhUaQEEAHePwA9AQFnoECA4QAQ&url=https%3A%2F%2Fwww.sportspromedia.com%2Fnews%2Fwasps-administration-premiership-rugby-hmrc-rfu%2F&usg=AOvVaw2RIdroHNP6YaQBCpd12cDU

[HDAWG]

"Martyn Phillips, the chairman of Premiership Rugby (PRL), explained last week that the league could not endorse a situation where clubs were able to shed debt in administration but retain full access to central funding, arguing it would create inequality and act as a bad precedent."

Whereas persistent cheating and largely getting away with it creates no inequality and acts as an excellent precedent of course.  All clubs are equal, but some are more equal than others.

.

We can't pay our players. Saracens paid their players too much. Clearly different situations. Ones cheating and another is complete collapse of a company.

Saracens were punished and in my opinion aren't cheating anymore. They are still unlikable as hell and I hate them. I think the prem have treated both situations correctly.

Clearly Saracens should've been stripped for assets and banned indefinitely. And our debt should've magically paid off. But sadly people, that isn't realistic!

[JF]

If a deal is concluded quickly, you also have the nucleus of the squad and so have a much more competitive squad than buying a cheap Championship club and having to build.

Would require deep pockets though (for rugby).

They're all out of contract. If you have the money just go direct.

Steven Vaughn indicated that they are offering some players the option of a contract next year with them being free t find a team in the interim.

I suppose it's too much to hope that this is all an elaborate ploy to have our players play for other teams for half a season then return to a phoenix-like Wasps armed with our opponents' tactics.