Uncomfortable question

[hookender]

According to this prospectus both

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjJ2dyfoPT6AhXMNcAKHWRjBF0QFnoECDcQAQ&url=https%3A%2F%2Fportfolio-adviser.com%2Fwasps-secured-retail-bond%2F&usg=AOvVaw0YLOLytpKUKspUO4aWgpM_

[andermt]

So again it poses the question of what debt sits where. With comments of Wasps having £100M debt that has to be all the debt surely, unless there is a lot more than people think, as £100M was a lot more than people thought anyway.

Also the comments from Vaughan was that ACL was profitable, you would think that if they were servicing a huge debt then being profitable would be much more difficult.

Still doesn't answer the questions around the training ground value, costs and ownership.