Hope?

[mike909]

It's like not being well - it really is the hope that really makes things hurt. I'm not sure I care where, just so long as.....I'm over 2 hours away - assuming all goes well - so most prospective stadiums are going to be some distance - a train line would be great....

[Rossm]

Where ever we play, we need to stay in relatively close distance to the EPIC. Either that or find something else entirely.

[Skippy]

I would have thought that the ex owner is most likely to be Chris Wright. If memory serves me right, we’ve only ever had three owners since the members owned the club. The most recent, DR, saw us enter administration. The one before him, Steve Hayes, cut us loose once we no longer served his purpose. That would seem to leave Chris Wright as the possible interested party.

[Westy68]

Just need confirmation please, we are in administration not insolvency, therefore we don’t need to follow the phoenix entity and therefore have to stay at CBS arena

[Neils]

Consortium of former Wasps players close to takeover deal
An offer has been accepted to save Wasps and the aim is now to compete in the Championship next season

By
Charles Richardson,
 RUGBY REPORTER
29 October 2022 • 9:26pm
Consortium of former Wasps players close to takeover deal
The chances of Wasps returning in the Championship next season grew significantly on Saturday as the joint administrators of the suspended club confirmed that a takeover offer had been accepted by a consortium which includes former players.

FRP Advisory, the joint administrators of Wasps Holdings Limited, have confirmed that, subject to contract, an offer has been accepted for both the men's rugby team and its accompanying academy. That offer was made by a consortium comprising members of the Wasps Legends, a charity foundation that is linked to the club. The group expect to hire a number of senior coaching staff in the coming days "with the aim of building a squad capable of competing at the top level next season".

Andrew Sheridan, Joint Administrator and Partner at FRP Advisory, said: “The consortium knows that it still has to meet all of the RFU requirements, including the fit and proper owners test and the presentation of a 3-5 year business plan with supporting robust financial forecasts, and that this needs to completed as soon as is practical in order to be in a position to play next season. However, this deal is a significant step forward, and one that we all hope will allow Wasps Rugby to live on.

“We have informed the RFU about this development and the consortium is fully aware of the rugby creditors rules as set out in Regulation 5 by the RFU. We understand that the consortium will seek to work with the RFU, the RPA and their members to reach a reasonable conclusion on those matters.”

Advertisement

The Rugby Football Union on Friday announced that Wasps had been suspended from the Premiership for the rest of the season, after the club entered administration and made 167 players and staff redundant earlier this month. The West Midlands club's results were expunged and the RFU added that they had been relegated from English rugby's top tier.

Even before the joint administrators' announcement, however, the RFU's statement did paint an optimistic picture: "The RFU’s Club Financial Viability Group is encouraged by the progress made by the administrators and it has taken the decision to suspend the team in order to support the prospect of securing a deal with the right investor and giving the club the best chance for a long term sustainable future."

The joint administrators added that separate discussions are ongoing in regards to Wasps Women and Wasps Netball and further updates will be provided in due course.

[Shugs]

In terms of the “where” debate I imagine they’ll want to be close to the EPIC. The coaches and players they will approach will likely be from the existing group who presumably live locally and also they’ll have ambition to progress back to the top flight with its criteria having to be met. Tenant at the CBS is logical but seems likely midlands.

[Bloke in North Dorset]

Would stadium debts be classed as rugby debts.

For me it has to be away from Coventry, I will never go there again. I would love it to be about 45 minutes away from where I live, in a stadium that holds no more then 12,500 - perfect.

I appreciate we just need to come back as a team but we don’t need to make silly mistakes again.

I'd like to think they aren't. They ran the stadium as a separate business and it didn't go in to administration as part of the club.

My guess, or what I'd like to think, is that rugby related debts refers to things like paying players and staff, any back rents and other creditors related directly to playing rugby. If the HRMC bill is for things like income tax and employer and employee NI that probably falls in to the category of rugby debt and would need a plan to be paid off.

But this is the RFU so who knows what they'll make up on the spot how they'll interpret their own rules.

[JWasp]

I wonder if a ground share with someone like Birmingham City FC would be on the cards. Closer to the EPIC and I would have thought better transport links from outside the midlands. Still 29,000 capacity though

[COYW15]

I’ve personally never been, but the Birmingham City fans I know don’t speak kindly of St Andrews - not sure it’s somewhere we would want to end up!

[jamestaylor002]

Not sure if much has changed (I doubt it) but St Andrews is falling apart. Some sections of the ground were blocked off due to structural issues.

[Pompeyman]

I've not watched a single game since Wasps folded, as I can't bring myself to. Frankly I don't care as long as it happens, I've supported them from London and Wycombe to Cov and will in Timbuktu if necessary...just as long as there is a club. If we can keep the core squad together as well,- even better. Everything is crossed this is not a false dawn !

[RogerE]

If Oxford United do build their new stadium at Kidlington, there's always the Kassam.

[SteveTodd]

We could really do with keeping that P Share. That'd help pay for one or two decent players.

Are the P shares not also secured against the bond? If so, presumably it means that the bond would have to be redeemed in order for for Wasps to keep their P shares?

[Neils]

BBC eventually  -

Wasps: Offer to buy Premiership club accepted by joint administrators - https://www.bbc.co.uk/sport/rugby-union/63447055

[Rossm]

The RFU requirements: paper scissors stone, best of three.