Worcester - Atlas have until 2nd May to complete purchase

[Neils]

Nice to see some "friends" from Coventry have published their view -

https://www.bbc.co.uk/sport/rugby-union/65533658

[baldpaul101]

As others have said, this is going to cause the same issues the club faced in Coventry. You would have hoped that Wasps would have learnt a lesson there?
Seem ridiculous to be going into a fractious local situation that may drag on for years & potentially affect success if any Phoenix venture.

[jamestaylor002]

As others have said, this is going to cause the same issues the club faced in Coventry. You would have hoped that Wasps would have learnt a lesson there?
Seem ridiculous to be going into a fractious local situation that may drag on for years & potentially affect success if any Phoenix venture.

I don't think Wasps really have the choice if they want to continue. Much the same for the move to Coventry (though buying the Ricoh was probably not the right move in hindsight).

This doesn't discount the idea that, without facts, it does appear to be a shady bit of business.

[baldpaul101]

I don't think Wasps really have the choice if they want to continue.

I'm not so sure. According to the RFU statement Wasps had alreday discussed playing at Solihull so that must have been considered a viable option at some point?

Much the same for the move to Coventry

With hindsight I do wonder whether the move to Cov was the only option for Wasps survival that it was painted at the time.
Were other options really adequately explored or was a move rushed through because someone was hoping to make money on the deal?
Maybe the whole truth will come out one day

[MarleyWasp]

I heard that Coventry Rugby Club kicked off at the RFU when Wasps got approval for Solihull on the basis that it's close to them (albeit still further than Ampthill is to Bedford and Ealing is to Richmond & London Scottish) and could lose them fans. Eventually the RFU asked Wasps to find a plan B, which was when Sixways came up.

[Neils]

Big oops -

https://www.standard.co.uk/sport/rugby/worcester-warriors-takeover-latest-news-doubts-b1079690.html

[wasps]

Much the same for the move to Coventry

With hindsight I do wonder whether the move to Cov was the only option for Wasps survival that it was painted at the time.
Were other options really adequately explored or was a move rushed through because someone was hoping to make money on the deal?
Maybe the whole truth will come out one day

I doubt we'll ever know.
However we were led to believe that the Met Police wouldn't allow another professional sports team within their area, which sounds very likely.


I also knew someone who worked at St Alban's council who said that there were discussions to move to a facility there but the council blocked it. She made it sound like one person in particular at the council ensured it was rejected.


I remember someone else saying something similar about another council.


So at the very least, that suggests to me that there was some genuine investigation into various other options

[NellyWellyWaspy]

Big oops -

https://www.standard.co.uk/sport/rugby/worcester-warriors-takeover-latest-news-doubts-b1079690.html

Is it possible that Begbies split the assets up in to tranches? The First tranche being the club (name etc) and the ground, and the ?500k and the loan from Holland, plus some more wonga got sorted and thus transferred, but the other assets yet to be paid for, as they are far more valuable as potential real estate (car park and land). Holland could not have registered a debenture on the stadium unless it was fully transferred. Anyone want to bet that Wasps get a time limited 'Yes' to playing at Sixways before the 21 days is up? And that the loan from Holland then becomes a long term loan decreasing by a set amount per match played? Atlas will then be able to get similar deals and loans on the other parts as developers come on board. The site will get developed, and 3-4 years from now an application to knock down the stadium after the five years has elapsed will be made. Wasps will have moved out, and the stadium will lie empty, unloved and start to fall apart as no maintenance will get done.

[westwaleswasp]

I don't think Wasps really have the choice if they want to continue.

I'm not so sure. According to the RFU statement Wasps had alreday discussed playing at Solihull so that must have been considered a viable option at some point?

Much the same for the move to Coventry

With hindsight I do wonder whether the move to Cov was the only option for Wasps survival that it was painted at the time.
Were other options really adequately explored or was a move rushed through because someone was hoping to make money on the deal?
Maybe the whole truth will come out one day

I think we had to move, but certainly with hindsight, the Cov plan only works if Derek R had the money to fund it himself. Were there other options? A very valid question. If Derek didn't have the cash for Cov, he certainly would not have had it for a scratch stadium build closer to home. In hindsight he was not the man we needed and still do need, because we need someone who doesn't have to borrow cash. We need someone with deep pockets.
A stadium share a la Irish in London might have gotten a few happy, myself included, in terms of ease, but they are reportedly being given the boot in two seasons and I am fed up of being at the mercy of football clubs. I think we fail in London, Kent, Anglia, Essex, wherever.

In hindsight Chris Wright's departure led us down a dark path that ended with no Wasps.
I guess we could, if we had money back then, have looked at a permanent ground share and scratch stadium build with Irish who also wanted home.
I think only a rugby groundshare works and with equal partners. That was never going to happen.

It is all back to the usual point. We need a rich owner, and if we get one we can play anywhere, if we don't then we are kicking about looking for vacant stadia, like the littlest hobo without the happy ending.

[Shugs]

To be quite frank I?m really no longer interested in what this never ending line of entitled nimbies want. CCFC, CRFC, Worcester etc. They should focus on their own business. Maybe if they did that there businesses might not be in such a state. I?m not bothered if we?re not welcome - there?s always going to be someone objecting to whatever you do.

[HDAWG]

Irrespective of how emotional WW fans are, I completely agree.

It's very distasteful to use a fellow team's ground who went bust the same season you did, in your own comeback. It just doesn't sit right. If it was another active prem club I'd have issues, but consider it. However, not WW, I just don't agree with it.

But we're going to have far bigger problems beyond this, to try and be sustainable.

[Brandnewtorugby]

It doesn't sit well with me. Why does supporting Wasps always have to come with so much baggage? I was cautiously looking forward to the Solihull Moors ground share as it seemed realistic.

[backdoc]

New in the Times:


Wasps? new life in Championship at risk as RFU deadline looms
Club have no director of rugby, while Worcester Warriors supporters group say Sixways proposal would break regulations
new
Alex Lowe, Rugby Correspondent
Tuesday May 09 2023, 9.00pm, The Times
Rugby union
Former Wasps head coach Blackett has taken a role as assistant coach at Bath
Former Wasps head coach Blackett has taken a role as assistant coach at Bath
DENNIS GOODWIN/PROSPORTS/SHUTTERSTOCK
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Wasps are in a race against time to secure a place in the Championship for next season ? and their future as a viable professional rugby club. At present they have no director of rugby and no players, while the chief executive, Andy Scott, left a month ago, with no replacement appointed. Wasps are a club who exist on paper only and the clock is ticking.

The new owners have until the RFU?s board meeting this month to demonstrate that they can fulfil up to eight criteria ? ranging from governance to building a competitive squad ? or their licence to compete in the Championship next season will be revoked.

Wasps, the champions of England on six occasions and twice conquerors of Europe, were suspended from the Gallagher Premiership by the RFU in October after going bust with ?95 million of debt, and then relegated to the second tier as punishment.

Halo22 Ltd, a company owned by Christopher Holland, lifted the club out of administration in December when it bought the intellectual property, history and memorabilia of Wasps RFC for ?150,000. The Wasps Legends Charitable Foundation, which includes Kenny Logan, Peter Scrivener and Mark Rigby, is thought to have provided working capital to the phoenix operation.

Jack Willis, who will remain at Toulouse next season, leaves the field against Northampton in October ? Wasps currently have no players on their booksJack Willis, who will remain at Toulouse next season, leaves the field against Northampton in October ? Wasps currently have no players on their books
Jack Willis, who will remain at Toulouse next season, leaves the field against Northampton in October ? Wasps currently have no players on their books
DAVID ROGERS/GETTY IMAGES
The RFU announced in December that Wasps would be permitted to take their place in the Championship after the governing body had conducted ?extensive due diligence?, including a background check on Holland, who already owned the club?s training centre at Henley-in-Arden, Warwickshire, and an examination of the business plan.

However, this licence approval was subject to a series of specific conditions being met and there is understood to be some concern at Twickenham over the progress Wasps have made. The RFU wants to be certain that the club will be able to participate next season so it can push ahead with restructuring the Championship, hence the looming deadline.

? Jack Willis: Staying in France was right decision despite England rule

The Championship this season comprised 12 clubs; it was won by Jersey, with Richmond set to be relegated and replaced by Cambridge. The inclusion of Wasps would make it a 13-team league. Some provisional fixture lists show the division could feature 14 teams, which would mean a stay of execution for Richmond.

On a sporting front, Wasps have much to do. They must demonstrate to the RFU that a new director of rugby is at least close to being appointed and provide evidence of a recruitment plan that would deliver a squad capable of competing in the Championship.


Wasps made initial inquiries about rehiring Lee Blackett, who was head coach when the club went bust, but he has now joined Bath as an assistant coach. With no director of rugby in place, Wasps have not recruited any players. The board have not been responding to inquiries from agents. The club will need to sign upwards of about 30 players before pre-season training begins in August.

? Stephen Jones: Losing Wasps and Worcester makes this the worst season ever

It is uncertain at present what the club?s playing budget would be. Having had to sell their Premiership share back to the league for ?9.8 million after going into administration, Wasps no longer have access to those top-flight revenue streams and Championship funding from the RFU is about ?100,000.

Meanwhile, Ealing Trailfinders, who finished second in the league to Jersey Reds, have strengthened for next season with the recruitment from Gloucester of Billy Twelvetrees, the former England centre, and Jordy Reid, the flanker.

Wasps have made progress on a potential stadium, although that tale exposes further the cruel and continuing mismanagement of Worcester Warriors, the first club who went into administration this season.

The best location in the country for the establishment of a new professional rugby club would be Canterbury in Kent, according to research, because of the potential for converting a strong rugby community into followers of a Premiership team.

However, Wasps are set on remaining in the Midlands, near the training centre, and they have requested permission from the RFU to play at Sixways, Worcester?s home ground, for the next three years.

The Worcester Warriors Supporters Trust has told the RFU it would be ?unforgivable? to grant Wasps permission to play at SixwaysThe Worcester Warriors Supporters Trust has told the RFU it would be ?unforgivable? to grant Wasps permission to play at Sixways
The Worcester Warriors Supporters Trust has told the RFU it would be ?unforgivable? to grant Wasps permission to play at Sixways
DAVID DAVIES/PA
Last week it emerged that Holland, via another of his companies, Loxwood Holdings Ltd, had loaned Worcester?s new owners, Atlas WWRFC, ?1.15 million.

The arrangement was described by Wasps as ?a means of securing our agreement to enter a three-year lease for Sixways?.

With the Wasps training centre being rented by Birmingham City FC at present, the club could relocate fully to the Sixways site ? using it for matches, training and as a headquarters for all rugby operations at a cost of ?600,000 a year.

But the whole arrangement has provoked strong opposition from the Worcester Warriors Supporters Trust (WWST), which has told the RFU it would be ?unforgivable? to grant Wasps permission to play at Sixways.

The WWST claimed the tenancy proposal and the loan arrangement breached multiple RFU regulations, including rules that state no party can hold direct or indirect influence over a second club.

?It would be unforgivable if a club without any stadium or facilities, which has left behind vast debts and misery in Coventry, was given preferential treatment over our long-established club,? the WWST said in a statement to the RFU.

?Wasps have no history in our local area; we believe they are intent on effectively poaching a ?ready-made? fanbase.?

If the Sixways plan is rejected by the RFU ? or if Atlas WWRFC cannot pay back the loan and the stadium has to be sold ? then Wasps will play their home games next season at Solihull Moors FC, which has already been signed off.

 
To be granted their provisional licence back in December, Wasps had to commit to settling all debts with rugby creditors, including players, club employees and agents who went unpaid before the previous incarnation of the club hit the wall.

This is believed to be one of the bigger stumbling blocks, especially if Derek Richardson, the former owner, who is owed ?28 million from loans to the club, is also considered a rugby creditor. The club are understood to be arguing that the image rights portion of a player?s income should not be included.

The RFU has governance demands too. Under the terms of the insolvency agreement, Wasps must demonstrate that the majority of the board is independent. There has been no public confirmation of appointments but it was reported in December that the Wasps board includes: Dame Inga Beale, a former chief executive of Lloyd?s of London, Simon Morris, chief creative officer worldwide at Amazon, and Chris Braithwaite, a former head of Apple?s global real-estate division.

The board must hold its first meeting by May 31, to which an RFU observer must be invited to attend. Wasps must also demonstrate they have established an audit and risk committee and provide their most recent accounts.

?We have been given certain criteria to meet a deadline set by the RFU and will submit a detailed written response to them by the due date,? a Wasps spokesperson said.

The future of Wasps rests on whether the RFU board is satisfied by that submission. The clock is ticking.

[Shugs]

Crikey - a few interesting nuggets in there. And a hell of a long way to go!

[baldpaul101]

If all of that is correct, it doesn't look promising does it?
the a LOT to get done in a very short space of time.