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We Need To Talk About Wasps

LeinsterMan (NotTigsMan)

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Surprised the Cov Telegraph picked this up, they have been pretty safe with wasps. The Cov observer being more like a pit bull.
 

TRF_Olyy

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Most clubs would disappear without the money men wouldn't they?

The falsifying documents is dodgy though
 

LeinsterMan (NotTigsMan)

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Most clubs would disappear without the money men wouldn't they?

The falsifying documents is dodgy though

Prob Glous, Tigers, Exeter and Saints are the only truly stable clubs on the whole.
Bath too but i don't like Craig.

The thing with Richardson though didn't he threaten to leave Wasps if they didn't move, because of the loses?
 

TRF_Olyy

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Wouldn't Bath die without Craig's cash?
I thought only like 3 clubs broke even?
 

LeinsterMan (NotTigsMan)

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Wouldn't Bath die without Craig's cash?
I thought only like 3 clubs broke even?

I think they have a big enough and loyal enough support base to survive.

Only Cheifs made a profit.
But then Tigers invested a **** ton in development recently so prob not far off.

tigers are pretty lucky to have a football size support base though, even with a big football team in town, it's benefited a lot form the size of the surrounding area and the strong rugby roots it has.
 

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The financials for this year will probably be slightly worse (no home semi and lower attendance), but should get better going forward with the Gallagher money and no sign of the salary cap being increased any time soon. However I did see someone point out that they were in to their overdraft at a time when they should be flush with cash due to ST sales for the following season. With cash flow problems like that it's easy to see why the players have been receiving money late and the training ground situation is dragging on.

It looks like Wasps future in Coventry will come down to Richardson's motives. If he is the passionate Wasp fan that many of their supporters claim he should be happy to soak up the losses until the debt can be refinanced in a way that the interest payments aren't so crippling. If he's just a property developer that needed a cheap sports team to get his hands on a stadium for a bargain price then he won't be willing to keep piling money in to the cause. The problem is that he can't simply reduce spending on the squad salary by a couple of million at the same time they're trying to grow a new fan base. They're already struggling as a reasonably successful top 2/4 side.
 
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Ragey Erasmus

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As has been pointed out, we need to talk about the financial structure of the prem as a whole. It is completely unsustainable and we are going to look for a MAJOR issue in the future if it isn't sorted out. You cannot run an entire league off the backs of some millionaires wanting to have fun with their toys indefinitely.
 

AM_Bokke

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It does appear that the money supply is drying up though, right? Worcester and London Irish both cutting player budgets, Saracens investor exit, Northampton is very vocal in the media about salary cap not going up, etc.

We'll see what kind of splash Sale can make but they eventually need to sell some tickets.

The AP will even out but at a permanently lower level than the Top 14. English pride will be hurt.
 

LeinsterMan (NotTigsMan)

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It does appear that the money supply is drying up though, right? Worcester and London Irish both cutting player budgets, Saracens investor exit, Northampton is very vocal in the media about salary cap not going up, etc.

We'll see what kind of splash Sale can make but they eventually need to sell some tickets.

The AP will even out but at a permanently lower level than the Top 14. English pride will be hurt.

For some clubs it is.
On the flip side
Sale Sharks, Newcastle Falcons and Gloucester though are spending more now.
Exeter making a profit.
Tigers doing well despite spending huge chunks of money on a new pitch, a new stand, buying the plot of land next to us to build a hotel and in the process of beginning to build a multi-story car park.

I think all clubs don't want the salary cup to go up.
I think Tigers CEO said in the press that he wants to take away the second marquee player to help the market.

I doubt the quality will go down TBH the prices will just become more realistic, the Top 14 isn't even that great a league IMO.
 

Which Tyler

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The cap is already too high; the 40% (?) increase in 2 years should never have happened. Without that, most clubs immediately go back into the black financially.
 

TRF_Olyy

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To be fair we're spending more but everything coming out of the club is saying were breaking even these days.
The new board has gone hell for leather on sponsorships and the corporate side of it to make up for the poor crowds.
Keep playing exciting rugby, maybe sneak an extra home game via Euro or LV= and we might sneak a profit next year
 

TRF_Olyy

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Worrying noises coming out of Coventry
Hemorrhaging money, largest debts in the league apparently (£8m more than Sarries)
 

TRF_Olyy

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Just announced they're building a rugby performance centre in Warwickshire.

While that's all well and good, surely they should be focusing on making some money first?
Considering all the members of public who sunk money into them and are expecting a return, that should be top of the agenda.
 

TRF_Olyy

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How do they double the number of events, increase hotel income by a million, and still lose more money?
 

ncurd

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How do they double the number of events, increase hotel income by a million, and still lose more money?
Same way Manchester United have in the past, owners use accounting tactics money laundering sorry I mean offset debt of other businesses they own.
 

Al Bangor

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Same way Manchester United have in the past, owners use accounting tactics money laundering sorry I mean offset debt of other businesses they own.

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