Worcester - Atlas have until 2nd May to complete purchase

[baldpaul101]

If, and this is a massive IF, all the conjecture is true (I fully agree its entirely possible) then I cannot see many die hard Wasps fans feeling they can be part of it.
I cannot also see many Wasps legends feeling that they can be either.
The much heralded management layer with experience in big business should also be looking to get out.
I am genuinely not sure I could support a club that had gone about their business in this way.


All that said, I will wait & see what happens between now & September. Its very easy to make 2+2 equal more than 4 when all the facts are not clear.

[Bloke in North Dorset]

The problem I see with the conspiracy theory is that it relied on Derek to swallow a massive loss in all this. If anyone was motivated to act in this way it was him and he doesn?t appear to be involved.

[bigad82]

Are there any rules in having a financial interest in 2 clubs?

Well, as Warriors no longer exist ... if they do, it is in the bottom most league, and I do not think dual interests of that nature are barred.

Thanks.

[Vespula Vulgaris]

The problem I see with the conspiracy theory is that it relied on Derek to swallow a massive loss in all this. If anyone was motivated to act in this way it was him and he doesn?t appear to be involved.

Exactly. I can categorically say Derek is not behind this.

When he sold the remainder of the training centre to Chris Holland it was to get liquid cash to pay the bond debt and keep the club going. He absolutely would not have definitely killed one club and possibly two in order to maybe make some money. He had bigger plans that that.

The story will come out soon enough.

[NellyWellyWaspy]

The problem I see with the conspiracy theory is that it relied on Derek to swallow a massive loss in all this. If anyone was motivated to act in this way it was him and he doesn?t appear to be involved.

Derek had already lost all that money. I have little doubt Wasps was going down regardless of what happened at Warriors. Purely conjecture, but one might think that, with Warriors going under, it gave the Wasps board an excuse, #metoo as it were.

I have a feeling that, should Irish also go under (I hope they don't), then all this current brinkmanship will have been theatre to say, we did all we could, but, like Wasps and Warriors ... I think Irish are hanging on to get the season done, and so fall in next season and be given a year to resurrect themselves, rather than a few months. It does make you wonder whether Falcons will follow? Summer must be a terrible strain on cashflow, once there are no more gate receipts, but with wages still going out? My hitlist at the start of the season was Warriors, Wasps, Irish, Falcons and Tigers. 13 becomes 8.

[WonkyWasp]

For what it's worth, I am afeared that you could be correct NWW.  I still absolve Derek from any shady dealing at all.  If the conspiracy theory is correct I personally could not support my beloved Wasps in the New Wasps form.

[Neils]

Confirmation -


Wasps owner Chris Holland makes loan to Worcester to secure Sixways lease
By Ged ScottBBC Sport

Last updated on

14 minutes ago14 minutes ago.From the section Rugby Union

Wasps owner Chris Holland has made a loan to new Worcester Warriors owners Atlas to help secure a lease to play Championship rugby at Sixways from next season onwards.

Warriors have taken out a debenture through Companies House from Loxwood Holdings Limited, of whom Holland is a director along with two family members.

The agreement is secured against land and the stadium at Sixways.

Wasps confirmed in a statement that playing at Sixways is an option.

But the club insists it has "no interest at all in the property other than a lease to play first-class rugby in the stadium."

"Our loan to Atlas, secured by the debenture, is simply a means of securing our agreement to enter a three-year lease for Sixways," the statement added.

Warriors co-owner Jim O'Toole told BBC Hereford & Worcester: "It is a security of tenure deposit for Wasps to play at Sixways".

    Atlas Group complete takeover of Worcester Warriors
    Worcester owners say agreement struck for Wasps to play at Sixways

Wasps have lain dormant since being relegated from the Premiership in late October, other than to be told that they had satisfied Rugby Football Union financial checks and were free to return to playing professionally in the Championship next season.

They already have RFU permission to use Solihull Moors' home at Damson Park.

There has also been the option of using the training ground at Henley-in-Arden, but their application for Sixways now suggests that they will be heading to Worcester, as Atlas first claimed at their public meeting in Feburary.

A decision on the proposed move will be made when the RFU meets at the end of the month.

"It's just Sixways they've applied for," said an RFU spokesman. "At the moment the permission is for Solihull Moors."

It is understood Wasps will move the rugby operation to Sixways four days a week - both for training and playing home games there - and find another use for their Henley site.


As for Worcester, to have any chance of being allowed to operate in the Championship again, the new owners would have to commit to paying off rugby debts and also pass the RFU's fit and proper persons test.

As yet, the RFU says that Atlas have not committed to pay off debts or passed the fit and proper test.

The governing body says it is up to the Worcester owners to approach them with details of how they propose to participate in rugby.

[Vespula Vulgaris]

In all of this there is an unanswered question that is nagging at me.

If our new owners have the money available to secure a nice Premiership standard stadium for another company, why is it that we don't currently have a squad, or coaches?

We've been lead to believe it was due to lack of funds. Clearly that isn't the case...

[JF]

Would you sign up with a club that's just a name at the moment?

I think there could well be a seismic shift in the game this summer, financially. A smaller Prem could force the hands of the broadcasters, and there are too many players chasing too little money at that level.

[NellyWellyWaspy]

Would you sign up with a club that's just a name at the moment?

I think there could well be a seismic shift in the game this summer, financially. A smaller Prem could force the hands of the broadcasters, and there are too many players chasing too little money at that level.

It would likely mean players having to accept less money, and players staying on at clubs until the clubs did not want them.

In a way, look at Premiership footie. How many English born players are actually playing each week? Very few. Which, in turn, means becoming a professional footie player should be less attractive to youngsters, but it is not. Our national footie team is probably poorer for that lack of representation at Premiership level, but lower league footie, where budgets are realistic, is probably the better for it. It is more like a real sport (not ruined by big money).

The same may well apply in rugby. With the Premiership shrinking, lower leagues may end up being better.

As for that statement. Well, he would say that, wouldn't he? I doubt any of us will know the truth, until Atlas pay back the loan in full, or Wasps move on. But, whatever Holland may hope, the Warriors fans are going to paint him, and Wasps, as the villains. And Wasps will be playing in their back yard.

[Vespula Vulgaris]

Would you sign up with a club that's just a name at the moment?

No, but I might sign for a club that had a glorious history, a state of the art training centre, full agreement from the RFU to play at a passable ground and ambitious plans to own a much better one.

[Neils]

Would you sign up with a club that's just a name at the moment?

No, but I might sign for a club that had a glorious history, a state of the art training centre, full agreement from the RFU to play at a passable ground and ambitious plans to own a much better one.

+1 - also if the number of quality players being released at the moment is correct (100+ in the PRL only) then a ream will not be too much of a problem BUT getting it together will be.

[NellyWellyWaspy]

So, we are asked to understand that the debenture is, in effect, an advance payment of rent, for three years. So, what, 40 games? Plus, we can use the ground to train. Maybe for other games as well (like the academy, maybe the ladies team?). What would Wasps use Henley for then? It has a big farmhouse and converted barn buildings that has been (or was being) converted to apartments for academy players to live in.

[Bloke in North Dorset]

In all of this there is an unanswered question that is nagging at me.

If our new owners have the money available to secure a nice Premiership standard stadium for another company, why is it that we don't currently have a squad, or coaches?

We've been lead to believe it was due to lack of funds. Clearly that isn't the case...

My guess - spinning plates. I'm not convinced Solihull was ever a real option or at least a preferred option, as NWW kept pointing out that ground was needed for a factory extension or similar.

Now they have a ground, once the RFU gives the go ahead, they can confirm to investors its not smoke and mirrors and they'll release funds so that the building of a squad and all the backroom staff can start.

[bigad82]

What the hell are they going to be using Henley for?
It's getting more bizarre by the day.