ACL Updates?

[Shugs]

It isn’t very much. And that goes between all creditors including bondholders. But presumably that’s the best offer there is. The other possibility is liquidation presumably. There are going to be a lot of upset creditors.

[Bloke in North Dorset]

Selling the stadium is liquidation, unless they thought they could knock it down and the bits were worth more than the whole.

It’s a fire sale and the stadium’s worth what someone will pay for it.

[ColonelWasp]

If true, this does beg the question (even more so) as to why Derek vetoed the £60 million offer?

I know that we don't have the full facts as public knowledge and have met Derek on several occasions and thought him to be a genuine and passionate rugby/wasps man, but I don't understand some of the things that have happened if that was the case and  if the "board" could have avoided being where we are right now, why they didn't?

[Shugs]

It didn’t seem credible is the assumption. But in the absence of anything else it may have been worth exploring. Maybe Richardson knew (quite righty I think) that the match funding part wouldn’t fly in a million years and didn’t want to waste time on it.

[westwaleswasp]

His silence is still puzzling. A rugby man would surely try to explain what has happened, or at least, explain why they could not explain, to their employees, as a bare minimum.

[Andywasp50]

I must admit it does seem odd. With the club like a drowning man the offer was substantially more than a straw to clutch, at so surely being thrown a decent lifeline was worth exploring - especially if the rest of the board thought it was a no brainer.

[Bloke in North Dorset]

If that consortium was serious why aren't they bidding now?

[WonkyWasp]

Like a drowning man I'm rapidly losing hope, but still looking for the glimpse of a lifebelt

[NellyWellyWaspy]

This guy says his consortium offered £20m:

https://twitter.com/BBCCWR/status/1592553687683153920

With the bondholders owed £35m, that suggests they will receive under 50p on the £1.

[Vespula Vulgaris]

The Administrators' job is to get the best deal they can, and so if they aren't going for the biggest offer there is a reason.

And if there is a reason someone utterly objective isn't going for the bigger money then maybe there was just as good a reason Derek didn't jump at a big figure being waved around.

[ColonelWasp]

Or was he trying to hold out for bigger offer and that wasn't credible and then it was too late?

I don't think any "offers" were cut and dried, but I still don't understand why if something was on the table, all the board didn't vote to go down that line and try to seal the deal even if it ended up not happening for whatever reason?

There seems to be a lot of "anger" amongst some senior figures behind the club on this and other frustrations also.

As a fan, supporter, season ticket holder and sponsor all I want too know is the truth and hopefully a way forward of some description.

The longer we go on without this, the more speculation there will be which probably isn't "healthy" for anyone (apart from certain parts of the press maybe)?

[baldpaul101]

As a fan, supporter, season ticket holder and sponsor all I want too know is the truth and hopefully a way forward of some description.

Don't disagree colonel, but for me the critical piece is the way forward.
The longer this goes on without further news & rumours of missed opportunities & angry senior figures, the more unlikely it seems to me that a way will be found for Wasps to survive.

[Neils]

I would think there is an embargo on anyone saying anything until it is finally sorted. Doesn't stop disgruntled bids (as above) mouthing off though.

[Marlow Nick]

I agree there's something not quite right with the rumoured £60m bid. If it was real they could jump in now with a mere £16m, buy the P share for £9m, and have £35m to rebuild a squad. So why aren't they bidding or why isn't the administrator taking their bid seriously.?

[Vespula Vulgaris]

Or was he trying to hold out for bigger offer and that wasn't credible and then it was too late?

I don't think any "offers" were cut and dried, but I still don't understand why if something was on the table, all the board didn't vote to go down that line and try to seal the deal even if it ended up not happening for whatever reason?

There seems to be a lot of "anger" amongst some senior figures behind the club on this and other frustrations also.

As a fan, supporter, season ticket holder and sponsor all I want too know is the truth and hopefully a way forward of some description.

The longer we go on without this, the more speculation there will be which probably isn't "healthy" for anyone (apart from certain parts of the press maybe)?

I've spoken to Derek about telling the story, he's quite keen, but understandably quite busy right now. I'll start nagging him a little in a week or two.