Always a Wasp
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2
Wasps Rugby Discussion / Re: The Future
« on: September 22, 2023, 10:14:29 AM »
VV,
I'd be interested to know why you are sceptical about the long lease being controlled by CH
I'd be interested to know why you are sceptical about the long lease being controlled by CH
3
Wasps Rugby Discussion / Re: The Future
« on: September 21, 2023, 09:25:18 AM »
VV,
As per my post above, I think CH already controls (97%) of the company that holds the long lease. 999 years is very akin to a freehold.
As per my post above, I think CH already controls (97%) of the company that holds the long lease. 999 years is very akin to a freehold.
4
Wasps Rugby Discussion / Re: The Future
« on: September 19, 2023, 04:55:43 PM »
As I understand it, Loxwood controls 97% of the company that holds the long lease on the stadium. Since Roy Rogers and Trigger didn't repay CH's ?2 million loan to CH, that long lease (and whatever goes along with it) is his. I'm not sure when the long lease runs from but usually they are expressed to be for 999 years in my experience.
I'm only a beancounter so the above may be a load of dingo's kidneys!
I'm only a beancounter so the above may be a load of dingo's kidneys!
5
Wasps Rugby Discussion / Re: England squad to face Ireland - No Farrell
« on: August 17, 2023, 05:53:24 PM »
With Ben Youngs' snail-like delivery, Ford's going to be kicking everything away. So tackling all day for Marchant and Tuilagi.
6
Wasps Rugby Discussion / Re: Farrell cleared
« on: August 17, 2023, 05:46:19 PM »
FWIW Shaun Edwards has come out as agreeing with the decision to rescind the red card, arguing that the other tackler (Jamie George) affected the height of the tackled player and OF had nowhere else to go.
7
Wasps Rugby Discussion / Re: Administrators
« on: August 12, 2023, 09:51:37 AM »
Just for information, our P shares were bought back (by PRL I think) for ?9.8 million. The first charge Derek had over all assets for his loan of ?20 million to the club was decided by the judge to be subordinate to the charge held by the bondholders and so the ?9.8 million (plus I think other funds) was made available to part-repay the bondholders.
That repayment was 33p/? and presumably totalled ?11.6 milion. According to the administrator's latest report, a further ?2.8 million (8p/?) may become available to repay the bonds.
That repayment was 33p/? and presumably totalled ?11.6 milion. According to the administrator's latest report, a further ?2.8 million (8p/?) may become available to repay the bonds.
8
Wasps Rugby Discussion / Re: PRL start date - if anyone is interested.
« on: July 12, 2023, 09:42:05 AM »
RossM,
That got me laughing out loud.
PS I can't seem to add an emoji for some reason. Any ideas or is it just down to my browser - Microsoft Edge?
That got me laughing out loud.
PS I can't seem to add an emoji for some reason. Any ideas or is it just down to my browser - Microsoft Edge?
10
Wasps Rugby Discussion / Re: Worcester - Atlas have until 2nd May to complete purchase
« on: May 04, 2023, 04:28:40 PM »
Bigad,
There's a difference between having an interest in a club (ie owning shares in it) and holding a debenture against assets of that club. Chris Holland does not, for example, have any voting rights in Atlas Worcester's dealings.
The way I see this is that Atlas could not raise the finance from USA, at least in part because the RFU said they couldn't carry out their "right and proper" persons checks. 6ways in the meantime was largely gathering dust. It's a wasted rugby resource.
CH has, it seems, lent (some of) the money to Atlas to buy from the administrator and that has enabled us to rent the otherwise disused 6ways.
I see nothing "morally wrong" or distasteful in this whatsoever.
There is no evidence I've seen that Wasps persuaded Atlas to let WW go under - as mentioned above. There is also no evidence that Wasps are intent on buying 6ways by the back door. If they wanted to buy it, they could have done the deal with Begbies directly.
All I see in this is that we've got some sort of proposed rental deal (yet to be approved by RFU) and the benefit of a debenture over a loan made. All the conspiracy theory being banded around is just ill-founded nonsense in my book. (Sorry NWW - I just don't agree)
I say thank you to Chris Holland and the Legends for rescuing us and giving us the chance of playing in the Championship in September.
There's a difference between having an interest in a club (ie owning shares in it) and holding a debenture against assets of that club. Chris Holland does not, for example, have any voting rights in Atlas Worcester's dealings.
The way I see this is that Atlas could not raise the finance from USA, at least in part because the RFU said they couldn't carry out their "right and proper" persons checks. 6ways in the meantime was largely gathering dust. It's a wasted rugby resource.
CH has, it seems, lent (some of) the money to Atlas to buy from the administrator and that has enabled us to rent the otherwise disused 6ways.
I see nothing "morally wrong" or distasteful in this whatsoever.
There is no evidence I've seen that Wasps persuaded Atlas to let WW go under - as mentioned above. There is also no evidence that Wasps are intent on buying 6ways by the back door. If they wanted to buy it, they could have done the deal with Begbies directly.
All I see in this is that we've got some sort of proposed rental deal (yet to be approved by RFU) and the benefit of a debenture over a loan made. All the conspiracy theory being banded around is just ill-founded nonsense in my book. (Sorry NWW - I just don't agree)
I say thank you to Chris Holland and the Legends for rescuing us and giving us the chance of playing in the Championship in September.
12
Wasps Rugby Discussion / Re: Wasps plan new ?Wasps Nest Stadium? and return to Premiership by 2025-26
« on: April 13, 2023, 04:10:53 PM »
Same here, Heathen!
13
Wasps Rugby Discussion / Re: ERC 1/4s
« on: April 10, 2023, 10:54:25 AM »
Not so sure about the TMO - Joy Neville? Mind you, she was probably hampered by the television editor not showing her what she needed to see. Brace was OK, as were the ARs.
Delighted to see that Foxtons were well beaten.
La Rochelle are going to be very hard to beat.
Delighted to see that Foxtons were well beaten.
La Rochelle are going to be very hard to beat.
14
Wasps Rugby Discussion / Re: Saracens announce Foxtons to become official partner
« on: April 02, 2023, 10:23:35 AM »
From now on, I shall refer to Saracens as Foxtons.
PS Nice one, Skippy. Thanks.
PS Nice one, Skippy. Thanks.
15
Wasps Rugby Discussion / Re: Time for positivity.
« on: March 25, 2023, 08:57:20 AM »
The hoarding behind them - James Timms - refers to a transport firm based in Gloucester.