Always a Wasp

The financial support from the council will ensure we keep our P share, then the takeover will go ahead. No need to worry

How's that different from the takeover money is money regardless of where it comes from. Hell, Armstrong could offer bridging money.
I'm not buying your theory

Quote from: Vespula Vulgaris on October 13, 2022, 03:15:38 PM

Quote from: JF on October 13, 2022, 02:53:09 PM

Club rugby has to be
self-financing (from funds generated within the game), it cannot be funded at the whim of very wealthy people. There needs to be a re-balancing, but you suspect that even if that happens some clubs may try and play the system.

Which is all well and good, but when a club tries to do exactly that and is shut down for 2 years because of a pandemic they are pilloried for not having £100M in the bank.

The more I think about that the more it seems insane that the “non cause clause” can’t be satisfied. The cash from govt was just loans so really just a bridging device. Diversifying income streams rather than being dependent on an individual is where all teams should try and get to. We did and, as you say, have suffered for it. Not that I imagine anyone with a semblance of power in the game will reflect on that - those funding their playthings with huge sacks of cash have too much influence for that to happen.

Isn't that too simplistic.
Given the business model was reliant on cash generation to pay back/refinance all the money borrowed, you'd have to display that prior to covid, the model was in fact sound. The fact that financials markets have contracted due to economic pressure, I'm not sure that is a sellable narrative.
I believe covid fckd us in the shorter term..but I do wonder where the refinancing would have come from in the current climate regardless.

I'm just gutted. Been flagging this for years with our incredible £10m annual losses since 2014, been shot down every time. Gives me no pleasure to say it's been coming a long time.
I'm not sure if we are still banned from saying anything negative abut Wasps, but if I am banned it doesn't matter now anyway.
My point is I am amazed no-one here is angry with the useless incompetant Wasps board who has presided over this debacle, Eastwood Vaughan and Richardson in particular.
They have watched the disaster unfurl. £60M losses in 6 years. Waited until we hit the buffers and screwed the bond holders and loyal suppliers, with no plan B in 7 years of clear sight Coventry did and could not work.
Lied to people - quote Richardson recent statement
https://www.coventrytelegraph.net/sport/rugby/wasps-owner-derek-richardson-breaks-24747475
So 160 years of history thrown under the bus. Yes we were going under in 2014, but all we have done is extend the pain whilst ruining our reputation with the financial community and rugby community, and taken money from good people with false promises - virtually nothing in the 2014 bond prospectus came to fruition
I was interested to see what hey had to say tonight, but the Wasps website is down
It's not over, possible we can rise but not with the current 3 bids I am aware of. All three want the stadium and not the  rugby club, even Armstrongs backers are venture capitalists who will be out for a fast buck
For me if we can find a proper rugby backer soon, who can honour the debts to the bondholders, sell the stadium and retain some staff and players, then get us back to within the M25 or near as hell, we can get back into premiership rugby with a future. And an 18,000 capacity stadium

Apart from disagreeing with almost every word you wrote...a couple of things.
Your claiming foresight of which almost every rugby supporter already knows, they all run at huge losses, so you're foresight isn't unique as much as you claim it to be.
I am not sure we'd be here if Covid hadn't gutted our financial model for 2 years, not just in in-flow but decemated in out-flow..
Related to the taking money from good people - purchasing a staggering 6.5% return bond is no different to buying ultra high risk stocks. If you know anything about finance, you'll know what I am saying.

Quote from: baldpaul101 on September 26, 2022, 09:42:11 AM

If I remember correctly, Odendaal was described prior to his arrival by a poster on here as a "bang average saffa"...

I recall that post.

Let's not get ahead of ourselves, he had an ok game, a decent offload mixed with a couple of defensive lapses. Being in someone's TOTW doesn't mean you need to get you're T-shirts printed yet boys, he didn't make the last two TOTW's...
You clearly haven't watched any of his final season in SA hence your hollow sarcasm..had you bothered, you'll understand my comment as he was actually 'Bang Average' and wasn't even a starter on occasions..or maybe you wouldn't, rugby IQ varies.
I hope he has a storming career at Wasps and as I have already, I'll continue to judge with my eye's.
I thought Spink was actually the better of the centers, after a terrible game last week.

Quote from: Hymenoptera on September 17, 2022, 05:38:31 PM

Scrum penalties or not, it's kind of irrelevant, because we'd have squandered possession anyway.

Potentially but in the knowledge that at the scrum it could have been got back!

Scrum may be a problem, but we have many bigger problems.

Quote from: Hymenoptera on September 17, 2022, 05:05:15 PM

Hopwood. You and the boards other resident apologists have been saying the same thing for 2 seasons now..
Noting unexpected here, a standard Wasps rugby match. Substandard, no guile, no rugby IQ, no anything
Two things I'm really glad of, Bristol having so much unavailable talent and the training dedicate to our core skills over the close season.
Next,  4 pages of positives to take away...

A lot of the time your posts make sense but you just can't resist the personal digs and sneers at other posters. Every time. You really ought to pull your neck in. No wonder nobody likes you.

What personal dig Ross..please elaborate? I  don't see one...which is ironic because that's exactly what you have done.
Or better still, demote yourself as the social police and offer some rugby insight.

Shugs growing nicely doing what? I really don't mind Spink he has been relatively solid but I like my 13 to be a great attacking threat, bursting through the gain line making well timed runs. I'm just not seeing that from him in the last few games, he has been fairly quiet.

He is only young and I'm sure will improve but I'm sorry i can't remember the last game where I thought he was one of our top 5 players. I'm only going on what Paolo did before his injury, where he was a real threat, he may play and have a stinker. Spink needs to start improving or I can see him losing his place.

Time to look past Paolo's purple patch...it isn't a constant. He's was average before and has been average since...he isn't even a starting winger, which is his better position. He offers very little at 13 and is a defensive liability.
Spink at the end of last season was playing better than any other 13 candidate..one ball fumble in one game doesn't mean anything.