Should we be worried by this?

[Heathen]

https://uk.advfn.com/stock-market/london/wasps-22-WAS1/share-chat?page=21

Simon Gilbert was the Political Correspondent for the Coventry Telegraph. A mate of Les Reid.

[Neils]

https://uk.advfn.com/stock-market/london/wasps-22-WAS1/share-chat?page=21

Simon Gilbert was the Political Correspondent for the Coventry Telegraph. A mate of Les Reid.

Saw it earlier somewhere else and caused me to stop and think. All doesn't seem quite right.

[Shugs]

Given that he was asking bond holders what was happening it may be that the article may not be too insightful. We certainly could do with clarity on this but I do think it will end up sorted.

[InBetweenWasp]

…and a CCFC fan.

Clearly it’s not all rosy.  On top of the economic situation where lending is being tightened up, the group companies have suffered tremendously from both COVID and Brexit with the latter impacting staffing significantly.

But let’s see what he has to say before deciding whether there’s any further concern needed.

[NellyWellyWaspy]

…and a CCFC fan.

Clearly it’s not all rosy.  On top of the economic situation where lending is being tightened up, the group companies have suffered tremendously from both COVID and Brexit with the latter impacting staffing significantly.

But let’s see what he has to say before deciding whether there’s any further concern needed.

Should I be concerned? No. It doesn't affect me at all. Should WE, as fans, be concerned, not really. Should those of us that are also bond holders be concerned? Maybe, if you can't afford to lose the gamble that was implicit in buying the bonds. But, only a little maybe.

[InBetweenWasp]

Here's the update:

https://www.bbc.co.uk/news/uk-england-coventry-warwickshire-61827414?

We have supposedly requested a grant of £13m.  It's unclear whether this to help with the Bond Repayment, or because of the rumoured delapidations.  If the latter, it might make sense to be applying to the Council for this if the structural issues are due to poor design or construction.

Of course, a stadium that requires £xm of repairs wouldn't hold the same value of a Stadium without the need for repair - which consequently impacts the ability to repay the bond via re-financing.

It would also explain why there was a reasonably late notice of the bond not being repaid.

That being said, if we need £13m to pay-off the Bond because we can't get financing, that's a much bigger issue.

[Rossm]

Just beat me to it, IBW.

Surely if it directly affected the bond, the the LSE should have been informed first.

[Trevs Big Tackle]

The "analysis" from Simon Gilbert is interesting, in that it doesn't analyse the current situation at all but just seems to moan about the stadium not being sold to ccfc.

[ardenwasp]

The problem is in the absence of any information people will fill in the gaps any way they see it. The club really need to give an update to help this blow over. People are not going to be keen to handover season ticket monies until there is more certainty.

[Heathen]

Just beat me to it, IBW.

Surely if it directly affected the bond, the the LSE should have been informed first.

Indeed. Any info in the public domain will come after a 07.00 statement at the SE.

[Shugs]

My take which may well be wrong = company impacted by the pandemic seeks funds from the WMCA, along with countless others.

[Rossm]

My take which may well be wrong = company impacted by the pandemic seeks funds from the WMCA, along with countless others.

If you don't ask, you don't get

[Neils]

In answer to the question - kind of yes!

[Vespula Vulgaris]

That is such a terrible article. Stuffed full of isolated statements placed next to each other in order to create an illusion of connection.

What do we actually know?

We know the bond issue is hoped to be finalised by the end of the month. And that is 2 weeks away.

We know HSBC is involved in that process or it certainly wouldn't have been stated publically.

We know Wasps are not legally allowed to make statements about the bond whenever they feel like it, so no comment from them should be pretty much expected.

We know someone at Wasps is good at finding funding opportunities and applying.

I don't think we know anything else for sure.

We can probably say that Wasps have seen an opportunity to apply for a grant that they believe they meet the criteria for.

We certainly don't know if this is in any way connected to the bond. There are many pots of cash out there, like the Commonwealth games money for example.

We can probably say that based on SV's statement earlier this year that revenue may be down, but profit should be up. But also that the stadium company has some big events booked in.

On a personal note I can also confidently state that the powers that be are not worried about the situation

[Vespula Vulgaris]

Oh, and one more thing.

We can say confidentally that Wasps have gone out of their way to build constructive and positive relationships with local and regional government since day one. Rather than trying to screw them over.

So if those officials are willing to work with Wasps we shouldn't really be surprised.

Regardless of how much that infuriates the idiots at SISU and their cronies.