Always a Wasp
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1
Wasps Rugby Discussion / Re: How sustainable are we??
« on: September 11, 2022, 10:27:33 AM »Apologies, my natural assumption was that it was a relevant issue you were raising. Just so we have a balance though and not supposition masquerading as facts. We have no idea how many bondholders agreed to it. We have no idea if and how much CCFC paid for the pitch and there is zero chance of third party ownership in reality, outside of Wasps.They’ve not issued the consent solicitation Sam. They’re
working on it concurrently. Question for you Sam. If Wasps fail what do you think the outcome for CCFC will be? However balanced you try to portray yourself (not sure why) it’s obviously the outcome you want - I’m just not sure why. It would be disastrous for CCFC.
Oh dear Shugs, didn’t you notice the word “previous”. I was talking about the consent solicitation which was issued on 6 October 2020 which sought to release Wasps from certain financial covenants in the original bond agreement and which was approved by a small number of bondholders, with what seems like a significant number of them not having had it brought to their attention by their brokers.
Third party ownership of the stadium would be fine by me, with the third party providing a decent pitch without the football club, with its own cash flow issues, having to stump up the cost up front.
It is a relevant issue in that, having been bypassed previously and not trusting Wasps, the bondholders are organising themselves so that they can act as and when they deem fit.
The fact that insufficient bondholders voted at the first opportunity to do so on that consent solicitation, such that it had to go to a meeting where no quorum was required, is reasonable evidence that a minority voted for it.
Boddy has confirmed that the upfront costs were met by the football clubs, with the money to be recouped from future invoices.
Are you seriously suggesting that nobody would buy the arena if the bondholders forced a sale?
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Wasps Rugby Discussion / Re: Stephen Jones in the Sunday Times
« on: September 11, 2022, 10:18:40 AM »
Where do they get these statistics from? 2,000,000 people attending premier rugby matches would require an average attendance of over 83,000 per match The actual average was 12,300 (Wasps so unless the attendances are made up of people who only go to one match per season the number who regularly attend is going to be more like 150,000 people - less than EFL League One.
Given the above, the potential 9,000,000 is almost certainly an inflated figure.
Given the above, the potential 9,000,000 is almost certainly an inflated figure.
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Wasps Rugby Discussion / Re: How sustainable are we??
« on: September 11, 2022, 08:30:25 AM »https://www.investegate.co.uk/wasps-finance-plc--was1-/rns/update-on-consent-solicitation/202010300700076897D/
I fail to see the relevance of this as it is dated October 2020.
It was for Shugs, he must have missed it at the time.
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Wasps Rugby Discussion / Re: How sustainable are we??
« on: September 10, 2022, 11:37:30 PM »They’ve not issued the consent solicitation Sam. They’re working on it concurrently. Question for you Sam. If Wasps fail what do you think the outcome for CCFC will be? However balanced you try to portray yourself (not sure why) it’s obviously the outcome you want - I’m just not sure why. It would be disastrous for CCFC.
Oh dear Shugs, didn’t you notice the word “previous”. I was talking about the consent solicitation which was issued on 6 October 2020 which sought to release Wasps from certain financial covenants in the original bond agreement and which was approved by a small number of bondholders, with what seems like a significant number of them not having had it brought to their attention by their brokers.
Third party ownership of the stadium would be fine by me, with the third party providing a decent pitch without the football club, with its own cash flow issues, having to stump up the cost up front.
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Wasps Rugby Discussion / Re: How sustainable are we??
« on: September 10, 2022, 11:30:54 PM »
PS VV as a bondholder, perhaps you too should join the Facebook group and also contact Laurence Griffiths at US Bank Trustees with proof of holding so your contact details can be shared with others, in order that you will be able to see and participate directly in the communications between that group. Unless you already have, of course.
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Wasps Rugby Discussion / Re: How sustainable are we??
« on: September 10, 2022, 11:14:13 PM »A tweet of a screen capture of a Facebook post stating an unknown number of people are looking to meet to vote on whether to act.
While I have no doubt some people are looking to try to force the rest of us into action I'm not convinced that's actually much different from a Facebook group being set up, or a website...
Well, you can believe what you like, but that is the situation. They don’t have to force the rest of you in to action (by “us” I’m assuming you mean other bondholders. If they get sufficient value, they can force action without the rest of “you” being able to stop it.
Unlike the previous Wasps actions in respect of the bonds, including the consent solicitation releasing them from certain requirements but which many/ most bondholders knew nothing about, they certainly seem prepared to act as a cohesive unit if the arrangements for repayment aren’t forthcoming imminently.
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Wasps Rugby Discussion / Re: How sustainable are we??
« on: September 10, 2022, 06:16:53 PM »Link?
https://twitter.com/RobOMalley8/status/1568543114524073984
My original post referred to the first paragraph on the attachment. I think if they get 25% they can initiate some action without the need for an EGM, which is what the second paragraph refers to.
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Wasps Rugby Discussion / Re: How sustainable are we??
« on: September 10, 2022, 04:00:17 PM »Apparently doesn't cut it, SBSam.Ok then, I will rephrase for accuracy and precision. A small group but of the largest bond holdings are initiating a meeting to enforce the bonds. Will take a few weeks but patience is running out. At least LD has reassured you all a few days ago that everything will be sorted out in a few days. Obviously if they get their money back there will be no harm done.
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Wasps Rugby Discussion / Re: How sustainable are we??
« on: September 10, 2022, 03:17:22 PM »
Apparently a small group but of the largest bond holdings are initiating a meeting to enforce the bonds. Will take a few weeks but patience is running out. At least LD has reassured you all a few days ago that everything will be sorted out in a few days. Obviously if they get their money back there will be no harm done.