Always a Wasp

The TV deal against the French league is startling.

Makes you wonder why the English clubs feel they have to compete with the French clubs for players. Comparing the Top 14 and the Premiership is like the reversal of the premier league football and Ligue 1.

One league is incredibly popular, great crowds and huge engagement nationally. The other is reliant and dictated by mega rich owners of a few clubs.

Must say I’m non plussed about the future of the premiership, I’m working out which Top14 team I will follow going forward. All I want in English rugby is for Launch to win a trophy as my god that giant of a man deserves it.

The debt on its own looks horrific but you’ve got to remember it was used to purchase an asset that still has value. If you only ever look on one side of the balance sheet you’ll only ever get half the story.

My anger is firmly directed at the other premier rugby clubs over the handling of Wasps and Worcesters P share.

Derek and the board tried to solve the big problem wasps have had for a long time, how to get us a stadium where we can reap its full rewards.

It’s a punt that hasn’t worked but to kill a rugby club other it is excessive.

In short Massie is an absolute idiot.

His whole argument makes no sense, Saracens have no debt, it all got written off by their main creditor. That’s disruption and inequality not because they are a well run rugby club but because they got lucky with who purchased them way back when.

Bath don’t really own where they play rugby rugby but get the income generated at the ground, that inequality and disruption is allowed also?

His championship point equally makes zero sense. The club owns the P share, it’s their main asset, Premier rugby saying nope, can’t have you selling your main asset at a profit that may help you is just ridiculous.

I hope this whole cabal implode in on these selves over the next 5 years and  they can watch Bath and Sarries play each other every week. Pathetic.

Quote from: Vespula Vulgaris on September 21, 2022, 09:57:34 PM

Quote from: BrackenandMacken on September 21, 2022, 09:54:16 PM

Quote from: wasps on September 21, 2022, 09:45:53 PM

The other thing is that someone interested in premiership football ownership can afford to run a rugby club without blinking.


A high number of premiership footballers earn more than £100k per week.
That £100k per week is essentially the entire annual salary cap for a rugby club.

If SISU weren't an absolute nightmare to deal with I imagine the potential of owning Wasps and CCFC would be appealing to certain people.

You get a premier league level ground, an area with fantastic footballing academy talent, you get to split the running costs with the rugby club and you would do away with al ot of the bad blood between the two clubs.

If only!

That would be my days as a Wasps fan finished.

Any owner, or SISU?

I'd certainly not be against a joint owner, but wouldn't fancy SISU. However CCFC is up for sale I believe, so a joint owner coming in could be beneficial.

Should have been clear, not SISU buy wasps, but a new owner buy both.

Absolute fantasy land but if you were wanting to buy a football club with a view to getting them to the premier league CCFC must be tempting, you then take on Wasps to get the stadium and split the operating costs.

If you were a rich potential owner, why would you write off £35m+ ?


Presumably you'd only do that if you had an affinity for the club.
So, the next question would be "where were you ~10 years ago?

I worry that there isn't a rich benefactor with enough love for Wasps to write off that kind of debt"

You do get a stadium in return for that £35m+, but your point is exactly the problem, there doesn't appear to be a person that meets the criteria of obscenely rich and loves Wasps rugby club.

It's a league of rich mens toys and you either have an ultra wealthy benefactor or you don't.

Maybe NWW or someone with better understanding of all of this can help me understand.

I appreciate I'm probably trying to find some positives in this but does this only happen when a business is well and truly done for? Or are there benefits to doing this?

Wasps are insolvent, we can't pay our debts as and when they fall due. This has been known for some time.

By filing an intent to appoint the administrator we are saying "We are looking for a solution, however if in the period of 14 days we can't find this, we will be going into administration". We are buying time, why wouldn't we? But this feels very much the last roll of the dice in the hope someone call pull a rabbit out of a hat.

If we do go into administration they will be acting in the interest of the creditors and looking to regain as much value as possible. They will have complete control. I think as soon as we go into administration that will be the end of Wasps at the Ricoh, the one asset we have will be sold to repay the creditors and there is no way we would lease the stadium to rattle around in it like we do currently, especially if Premier Rugby relegate us.

Then, anyones guess, look to merge with Cov? Worcester? Back to London? Cease to exist? All would be possible outcomes but I reckon as soon as we go into administration we won't see the likes of Willis x2, Atkinson, Barbeary, Launch etc in a Wasps shirt again.

One thing however is blinding obvious,  the market for professional rugby in this country in it's current state isn't as big as the players salaries would suggest.

That's an utter shambles all round.

Our game management, the officiating and Nicola Sturgeon in the commentary box.

Still, onto the semi final.