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Wasps about to be stung?
Discussion started by Furriner , 10 June, 2019 16:11
Wasps about to be stung?
Furriner 10 June, 2019 16:11
I’m always slow getting through the Sunday papers and have just come across a shocker by Rod Liddle in the Times. His article is primarily about Coventry City’s problems, having failed to agree a deal to continue playing at the Ricoh next season and having to move to Brum City’s ground. But he touches in some detail on the likely knock on effects for Wasps, not just in terms of loss of ground share income. Apparently Cov City are suing them for alleged shenanigans over the purchase of the Ricoh (£28m short-changed they reckon), and they’ve got debts in excess of £55m with losses doubling to £9.7m last season.

On top of that they’re facing an inquiry into financial irregularities into legion claimed misdeameanors. Liddle concludes “.... they will be fortunate if they are in existence by this time next year.”

Wow, no wonder they’re losing so many decent players. I didn’t approve of how they muscled in on Cov’s patch, but wouldn’t want them to fold.

Re: Wasps about to be stung?
Platwell House 10 June, 2019 16:15
Not looking good for Wasps, it does have the appearance of a sinking ship with so many players going to pastures new.

Re: Wasps about to be stung?
Hercules Spoons 10 June, 2019 16:49
It’s worth reading the thread on the Wasps board- especially the links to the Guardian article before jumping to the same conclusion as Mr Lidl

Re: Wasps about to be stung?
Big Dave 10 June, 2019 19:04
That said, I feel for the fans of Coventry City.

Re: Wasps about to be stung?
Field marshall 10 June, 2019 19:23
I read that Coventry city were offered the Ricoh for a hugely reduced amount (circa £5M IIRC). I don't suppose they'd be suing themselves had they bought it?

It would be a sad day for english rugby if wasps were to go. Some don't like their move, but I admire any organisation which fights for its survival and Wasps would already be gone had they stayed at High Wycombe.

It seems that Coventry City should be shouldering a large amount of the blame. Having read the below link, Cov city/sisu make Wasps look like business masterminds!


Re: Wasps about to be stung?
TimothyQ 10 June, 2019 19:37
I don’t defend the decisions Wasps have made over the last few years (using the bond issue to sign Beale and Le Roux is like borrowing money for a house deposit and blowing it on shoes), but they are (sort of) a founding member of the RFU and it would be a tragedy if they were to go pop.

Re: Wasps about to be stung?
gran 11 June, 2019 07:55
Here is a quote from the boss of the once great Coventry RFC on helping the football club in their dilemma. It sums up the real culprit.
They are a sister club bearing the city's name with a proud old history, who have fallen from grace, just like us. We're marching back up. I sincerely hope they do too.

"We'll offer what support we can to get there, but the one thing we cannot do is have any formal arrangement with them, any groundshare, whilst they're owned by their current owners.

Re: Wasps about to be stung?
Jimeno 11 June, 2019 08:14
Forgive my ignorance but who are the current owners and what's wrong with them?

¡Vamos los osos!,file=7153

Re: Wasps about to be stung?
Gray_Lensman 11 June, 2019 08:39
Wasps should not have been allowed to move . The RFU refused to permit Wakefield to move and they went out of existence, but its one rule for a fashionable top club and another for the rest As far as I can tell they moved without the requisite permission from the constituent bodies partly by the fiction of keeping their offices in the south. They should have taken the hit and dropped down the leagues, like Coventry, London Scottish and even London Welsh who still exist as an amateur club, and rebuilt from there.

Re: Wasps about to be stung?
Hercules Spoons 11 June, 2019 09:33
Jimeno - it’s SUSI or SISU something like that who are a hedgefund based in Mayfair
Best to read on Wasps board for better details-

Re: Wasps about to be stung?
Rich. 11 June, 2019 11:11
SISU have lost their case in numerous courts and this seems their last option of going to Europe. From what I've read on this over the months and years they haven't got strong case and so no need to worry about Wasps.

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