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Ouch!
Discussion started by Blanchefleur , 16 March, 2020 14:41
Ouch!
Blanchefleur 16 March, 2020 14:41
Wasps interim losses as just reported amount to 5m
Bond (6.5% coupon) trading at a 40% discount to par to be repaid in 2022.
Richardson owed 18m
Revenues from non rugby activities account for nearly 50% of total sales and with the stadium closing for an indefinite period the financial model to sell the bonds is non existent and losses will increase.
I suspect many other clubs are in a similar position which is a problem that some may not recover from.
Will CVC step in to acquire more equity in Premiership Rugby to bail out some of the clubs?

Re: Ouch!
Sarriebone 16 March, 2020 14:48
Quote:
Blanchefleur
Will CVC step in to acquire more equity in Premiership Rugby to bail out some of the clubs?
In a word... No. They bought to make money, not to sink more in to it.

Re: Ouch!
AP 16 March, 2020 15:50
If Wasps go bust before the season ends are we still relegated?

Or does the Premiership just have eleven clubs in it next season?



Successful hills are here to stay
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Re: Ouch!
Innings 16 March, 2020 16:20
As Exeter seem to be the only club that can make a profit, it's clear that they will soon be able to form a Premiership of one club, play each other as Chiefs v Braves as often as they like, win the play-offs and qualify for Europe. Their owner will then be able to declare that Exeter are perpetual champions by right, (or hasn't he said that already?) and look forward to perpetual glory.

Unfortunately, Exeter will also come bottom of the Premiership and therefore be relegated every other year. Being unable to qualify for Europe in the Champinoship, they will also never qualify for Europe again, because in alternate years they will be in the Championship and ineligible, and in the in-between years, in the Premiership, they will have only just been promoted and will therefore not have qualified in the previous season.



Innings

Points win matches: tries win hearts and minds.

Re: Ouch!
Dave Berko 16 March, 2020 16:38
Quote:
Innings
As Exeter seem to be the only club that can make a profit, it's clear that they will soon be able to form a Premiership of one club, play each other as Chiefs v Braves as often as they like, win the play-offs and qualify for Europe. Their owner will then be able to declare that Exeter are perpetual champions by right, (or hasn't he said that already?) and look forward to perpetual glory.
Unfortunately, Exeter will also come bottom of the Premiership and therefore be relegated every other year. Being unable to qualify for Europe in the Champinoship, they will also never qualify for Europe again, because in alternate years they will be in the Championship and ineligible, and in the in-between years, in the Premiership, they will have only just been promoted and will therefore not have qualified in the previous season.

At last a sensible post. Been a long time coming!!

(Sm22)(Sm22)

Re: Ouch!
Cereal Killer 16 March, 2020 16:44
How likely is it they wont be playing? Genuine question for somebody more knowledgable on thing like this than me.

Would be awful to loose a club like Wasps from the sporting landscape.

Re: Ouch!
Primavesi2 16 March, 2020 16:52
Quote:
Innings
play each other as Chiefs v Braves as often as they like,

Presumably ex Flybe employees will be entitled to tickets but only in the Braves seating allocation

Re: Ouch!
wolfgangvonb77 16 March, 2020 17:56
This was coming for a long time and there have been reports in a Coventry newspaper talking about Wasps and their finances. They cant afford to pay back their owner back. It's a shame for rugby on the whole that a club could go under because of debts.


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