Always a Wasp
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46
Wasps Rugby Discussion / Re: 36 Provisiomal England Squad - If Anyone's Interested.
« on: October 17, 2022, 11:43:53 AM »
Not really...but thanks for taking the time to post anyway.
47
Wasps Rugby Discussion / Re: Missed opportunity
« on: October 17, 2022, 11:43:19 AM »I don't think anyone is saying Wuss shouldn't be afforded the same, but this is a Wasps board, so I guess, strangely, people are focussing on what the PRL / RFU can do to help us.
Of course, but my point is another club had already had its P share removed. To then allow another to keep it despite clearly being insolvent just wasn't an option.
Maybe it's just a bit much to expect people to say '..and Wuss have their share returned' each time our P share is mentioned. I think you are wilfully looking for negatives.
48
Wasps Rugby Discussion / Re: Missed opportunity
« on: October 17, 2022, 11:21:40 AM »
I don't think anyone is saying Wuss shouldn't be afforded the same, but this is a Wasps board, so I guess, strangely, people are focussing on what the PRL / RFU can do to help us.
49
Wasps Rugby Discussion / Re: Telegraph - Dave Walder Comments (I had forgotten he was still with us)
« on: October 17, 2022, 11:19:33 AM »Yes, but a business losing money doesn't mean it doesn't have a good plan for the future. Amazon lost money for years, and I don't see anyone telling Jeff Bezos he's incompetent and didn't have a clue.
We had a known deadline for repaying the £35 million bond issue on top of significant annual losses. I'm sure the original plan was to get bumper crowds every week, bring in lots of events and so on. But once the crowds started to fall away and the events weren't as frequent or lucrative, did we have a plan B? Derek very generously underwrote the losses for years, but beyond relying on that generosity I don't see what plan we had for turning things around.
I would have said that the Plan A didn't account for the sudden and total cessation of all income streams due to a global pandemic. I am not sure many businesses as complex could pivot quickly enough. That said, taking on such a huge debt was very high risk.
50
Wasps Rugby Discussion / Implications of P Share Value...or otherwise
« on: October 17, 2022, 10:11:29 AM »
I'm not an accountant, but I've seen the P share valued at about £9m. It is clearly worthless and so surely should come off the balance sheet of all the clubs, shouldn't it? That will leave a £9m hole in everyone else's accounts won't it? And any club looking to get finance will consequently have more difficulty and so less likely to dig themselves out of a hole? Maybe someone with more knowledge of these things could explain what the impact of the P shares becoming effectively worthless would be for others?
51
Wasps Rugby Discussion / Re: Mirror - pinch of salt - Cheetahs hit with 700 k loss
« on: October 14, 2022, 11:19:12 AM »Financial transparency won’t sit well with Saracens given their willingness to take relegation over opening their books. Lots of skeletons in that closet I would imagine.
They will arrange an amnesty and confidentiality agreements so the information is kept under wraps and nothing done about it....meanwhile they will continue as they are.
52
Wasps Rugby Discussion / Re: Telegraph - 10 Team Offering
« on: October 14, 2022, 09:52:56 AM »
What's the betting that if they do open their books, it will only be on the proviso of an amnesty against anyone found to be breaching teh rules. I can't see it anyway, as a Cheetah doesn't change its spots, and financial doping will carry one regardless of the set up.
53
Wasps Rugby Discussion / Re: HMRC - Going in Tough
« on: October 14, 2022, 09:46:50 AM »
They will be fine...at least until the 8th November hopefully!!
54
Wasps Rugby Discussion / Re: Some Press - Sorry if duplicated (only those Nationals I can Access)
« on: October 13, 2022, 04:34:09 PM »Yep I agree, I wouldn't go to a club game, unless it was corporate and I wasn't paying. Will go to twickenham as I'm going twice next month.
Not sure I will stop BT, would like to keep an eye on the x wasps players especially Joe, Willis x2, Alfie and a few more. What would really get me if they played for Sarries or Tigers
I would imagine both will be able to find space in their salary caps to take them on. I'm not sure how many others will have enough space though!
55
Wasps Rugby Discussion / Re: Wasps facing relegation
« on: October 13, 2022, 11:38:05 AM »For what my opinion is worth, it's easy for Baxter to make such comments when your club is sitting cosy financially because owner and sponsor are one and the same.
It would be interesting to hear his comments if Exeter were in trouble
Or if Exeter were last men standing
Exeter vs Cheats ad nauseum!!
56
Wasps Rugby Discussion / Re: Wasps facing relegation
« on: October 13, 2022, 11:27:48 AM »Rifleman Harris,
The £350k loss was of match-day revenue, not an overall loss. They'd save on avoiding match-day operating costs, which would be substantial.
Ahh I misread that. I thought it was a loss of profit. Even so I guess there will be longer periods where there is no income and still expenditures so that won't help...unless they do what used to happen in football (and may well still do in the lower leagues) and only pay the players through the season and then compress the season.
57
Wasps Rugby Discussion / Re: Wasps facing relegation
« on: October 13, 2022, 10:53:04 AM »
I suspect if you have 4 clubs going into admin then very quickly there will be others. Gloucester said they would lose $350k from the missed Worcester game, that is a potential £1.4m loss in revenue for teams that haven't played any of the 4 teams in trouble. That would be a serious setback for anybody's finances and could put others in difficulty. I can see Baxter's idea of a 10 team Premiership being a bit of a dream.
58
Wasps Rugby Discussion / Re: Wasps facing relegation
« on: October 13, 2022, 10:49:32 AM »
Who can actually buy the P shares. Does it have to be a rugby club (why anyone else would want them I have no idea)? If it's only rugby clubs then it is doubtful that they are worth much...who would want one?
59
Wasps Rugby Discussion / Re: Wasps facing relegation
« on: October 13, 2022, 09:48:28 AM »
Baxter wants a 10 team Premiership.
60
Wasps Rugby Discussion / Re: Wasps facing relegation
« on: October 12, 2022, 04:12:14 PM »
I see from the BBC that an American billionaire is looking to buy the stadium and CCFC. I wonder if that is one of the other interested parties?
I guess it is irrelevant now.
I guess it is irrelevant now.