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Wasps
Coughie (IP Logged)
23 December, 2017 12:02
Naughty naughty!



~ You never knowingly let the facts get in the way of the story. ~

 
Re: Wasps
Highbury Saracen (IP Logged)
23 December, 2017 12:15
Yes Coughie!
I read this on their forum & then on Tigers forum where theres a slightly different take on it!



European champions 2016 & 2017

 
Re: Wasps
tpr's headmistress (IP Logged)
23 December, 2017 13:48
Probably best to leave them alone - casting stones and all that. I read the Tigs forum too - such glee at someone else's discomfort. Human nature I suppose.

 
Re: Wasps
RustySword (IP Logged)
23 December, 2017 16:53
Plenty

 
Re: Wasps
RustySword (IP Logged)
23 December, 2017 16:54
Plenty of rumours that Pests are in deep doo-doo. Cooking the books ain't gonna make the bondholders feel any more accommodating.

 
Re: Wasps
F-F-F-FEZ (IP Logged)
23 December, 2017 22:05
Never good to see another club in trouble for whatever reason. I have no idea about the reality of our finances but am tempted to use the "people in glass houses" metaphor - I could be wrong and usually am.........

 
Re: Wasps
ukms (IP Logged)
23 December, 2017 22:09
Quote:
RustySword
Plenty of rumours that Pests are in deep doo-doo. Cooking the books ain't gonna make the bondholders feel any more accommodating.

Embarrassing errors but doesnt really affect what the accounts say , certainly not in the ‘doo-doo’

 
Re: Wasps
Highbury Saracen (IP Logged)
23 December, 2017 22:18
Quote:
ukms
Quote:
RustySword
Plenty of rumours that Pests are in deep doo-doo. Cooking the books ain't gonna make the bondholders feel any more accommodating.

Embarrassing errors but doesnt really affect what the accounts say , certainly not in the ‘doo-doo’

Agree ukms ....but nice to have a bit of a wind up after stick we get on your forum!!
Good win for you today smiling smiley



European champions 2016 & 2017

 
Re: Wasps
RustySword (IP Logged)
23 December, 2017 22:43
Quote:
ukms
Quote:
RustySword
Plenty of rumours that Pests are in deep doo-doo. Cooking the books ain't gonna make the bondholders feel any more accommodating.

Embarrassing errors but doesnt really affect what the accounts say , certainly not in the ‘doo-doo’

"Rumours" I said, accurately. You, of course, know otherwise for a fact.

I have to say that, when an "error" of this scale occurs to the detriment of the bondholders, hard on the heels of the rumours, a distinct pong of seafood can be detected.

And yes, I know Saracens' finances are not a pretty sight by any objective measure, but when it comes to the commitment of rugby-loving men like Nigel Wray and Johann Rupert there's nothing objective about it. As Nigel likes to put it "I owe the money to myself, so where's the problem?".

At least they've never tried to sell out the rugby (and the supporters) for a pretty bauble (and perhaps white elephant) such as the Cuckoo's Nest.

 
Re: Wasps
ukms (IP Logged)
23 December, 2017 22:56
Quote:
RustySword
Quote:
ukms
Quote:
RustySword
Plenty of rumours that Pests are in deep doo-doo. Cooking the books ain't gonna make the bondholders feel any more accommodating.

Embarrassing errors but doesnt really affect what the accounts say , certainly not in the ‘doo-doo’

"Rumours" I said, accurately. You, of course, know otherwise for a fact..

Calm yourself winking smiley

I don’t know anything other than reading the published accounts ..... which I suppose you could say are fact ?

I didn’t mention Sarries finances, you did quite defensively ! to be perfectly honest I’m not really interested in Sarries financial affairs and certainly have no reason to criticize them.

 
Re: Wasps
RustySword (IP Logged)
23 December, 2017 23:11
Quote:
ukms
I don’t know anything other than reading the published accounts ..... which I suppose you could say are fact ?

Evidently not. That is the entire point at issue is it not?

 
Re: Wasps
ukms (IP Logged)
23 December, 2017 23:49
Quote:
RustySword
Quote:
ukms
I don’t know anything other than reading the published accounts ..... which I suppose you could say are fact ?

Evidently not. That is the entire point at issue is it not?

There is a point at issue of course there is but it doesn’t really affect the fundamentals of business (turnover etc) unless you are suggesting everything about the business is fabricated ..... it is what it is and it’s out in the open, as I said it’s embarrassing. Have you read the accounts or just focused on the error and the rumors you’ve heard/read ?

 
Re: Wasps
ukms (IP Logged)
23 December, 2017 23:58
Quote:
Highbury Saracen
Quote:
ukms
Quote:
RustySword
Plenty of rumours that Pests are in deep doo-doo. Cooking the books ain't gonna make the bondholders feel any more accommodating.

Embarrassing errors but doesnt really affect what the accounts say , certainly not in the ‘doo-doo’

Agree ukms ....but nice to have a bit of a wind up after stick we get on your forum!!
Good win for you today smiling smiley

I know and no issues with a wind up smiling smiley ...... was a good win and a bloody enjoyable game to watch although last two tries were gifted from glaws chasing the game, should have been a little closer. I’m looking forward to some Xmas eve entertainment tomorrow, hopefully you’ll get that monkey off your back, albeit wasps would drop a place...... long way to go yet, Wasps and Sarries have both had a bad patch ..... just waiting for chiefs to hit theirs !

 
Re: Wasps
Convex Hull (IP Logged)
24 December, 2017 10:43
This would be known to the Board long before it became public. The Board members would be well advised to take a look at the terms of their Errors and Omissions insurance, they may need it down the line.



Regardez mon visage. Suis-je bovvered?

 
Re: Wasps
boomer! (IP Logged)
27 December, 2017 10:39
Quote: "It has set out a series of revised terms it is hoping bondholders will agree to at a meeting on Jan 19.

Should bondholders agree to those terms, in future Wasps will be able to class shareholder contributions as income."

Unquote.



I am not an accountant, but does this not read as rather unusual?

I'd have thought, like equity, that ALL money received from debt issuance is a liability on the balance sheet of any company.

 
Re: Wasps
derbyshire fan (IP Logged)
27 December, 2017 12:13
Boomer - the point that Wasps are asking for permission from the bond holders is that money 'given' to the company by shareholders (legally a 'contribution') can be added to 'profits' for the purposes of all of the covenants in the bond agreement. It is a highly unusual request, but since the alternative for the bond holders is to go through a messy and painful process of enforcing their security, I doubt they will refuse


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