Possible news?

[Vespula Vulgaris]

It's a tricky situation, Derek cannot reclaim any money for or on behalf of Wasps. He no longer owns it. Chris Holand does.

The figure he is claiming I suspect is a combination of actual tangible losses, and lost future profits based on him losing ownership of the business.

I could be wrong though, I'm no legal expert. I have no doubt it will all come out soon. What I do know is that Deeek has been wanting to make this public for a long time. But has not been in a position to be able to do so. We have spoken a number of times about getting the truth out there, but legal advice has always been to hold fire for the time being.

[St Bruno]

AFAIK the bondholders' only security was the long lease of the arena, which was sold to Ashley.
They have been paid out about 40% of their holding from the sale proceeds and I read somewhere that they're likely to get another 3-5%.
DR's action against Dawbarn centres around the value of his Wasps Holdings' shares, both present and future, together with the ?20 million loan he made. I don't think the shortfall on the bonds is involved in that action.

Any money DR gets from the action goes to him and of course his lawyers!
(I am a bondholder, btw)

[RogerE]

I have  managed to talk to several of the "lesser" players since the demise, and one of the things that has been consistant is that none of them seem to blame Derek.
There is one person who everyone seems to blame, and it is someone rarely mentioned on sites like this, but he, basically, was one of the main people involved iin the move and was high up in Wasps holdings.

[westwaleswasp]

Shorter post than normal.
Who?

[Andywasp50]

As a club Wasps seemed to have been courting the Ricoh/CBS for a few years prior to DR taking over by playing significant Heineken Cup home games there, so maybe someone who had been involved in the club during that time as well?

Feels like the end game was always to get the stadium and land, DR came aboard and provided the finance expecting some kind or ROI but got diddled, and the rugby side was just the cover for the whole thing.

[St Bruno]

RogerE,
I've heard that a number of people rated Nick Eastwood as about as useful as a 3-speed trouser poultice, but it can't be him you're referring to because, IIRC, he was recruited after the move to Coventry.
So, to repeat WWW's question, who?

[RogerE]

Nick Eastwood was at the meeting that Wasps held for supporters at Marlow when the  move was first announced, so was involved before the move happened, and yes he is the person most mentioned. Another name who has been mentioned to me as culpable is David (?) Armstrong, but I don't know what his role in Wasps was.

[Heathen]

Eastwood joined in 2102 as CEO : https://www.sportsmanagement.co.uk/Sports-features/sports-management-magazine/Nick-Eastwood/29740

[Neils]

Eastwood joined in 2102 as CEO : https://www.sportsmanagement.co.uk/Sports-features/sports-management-magazine/Nick-Eastwood/29740

2012 methinks

[Neils]

Nick Eastwood was at the meeting that Wasps held for supporters at Marlow when the  move was first announced, so was involved before the move happened, and yes he is the person most mentioned. Another name who has been mentioned to me as culpable is David (?) Armstrong, but I don't know what his role in Wasps was.

Agreed - he was quite persuasive at Marlow.

[St Bruno]

I stand corrected.

Wasn't he an RFU cast-off?

[WonkyWasp]

Has anyone else read the D. Tel. ''Features'' pages  6 and 7,  ''A stadium bigger than the 02 in our tiny village?  No way''.  I have to agree about the 28,000 seater  size, and also  if someone wanted to build any sort of stadium in our tiny village I too would object.  Defo feeling of deja vue.

[Neils]

Has anyone else read the D. Tel. ''Features'' pages  6 and 7,  ''A stadium bigger than the 02 in our tiny village?  No way''.  I have to agree about the 28,000 seater  size, and also  if someone wanted to build any sort of stadium in our tiny village I too would object.  Defo feeling of deja vue.

Somebody started another thread with the article! Reading the comments shows little support either. Slight sniff of CCFC?

[WonkyWasp]

Thanks Neils;  thought it felt familiar.  The D. Tel has presumably lifted it for today's  article.

[baldpaul101]

Its shown in full on the DT Today thread.

'A stadium bigger than the 02 in our tiny village?

This is a slightly disingenuous comment. Its proposed to build this within spitting distance of the M25 & M20. Anything within the M25 is a suburb of London these days not not a rural part of the Garden of England.
That said, pretty much the rest of the article is justified objections, especially the traffic issues. Although you do wonder if some of the objections are focusing on Wasps rather than the huge new build estate planned for the rest of the site which will have a daily impact on the area. Easier to object about a stadium than supposed affordable housing!