Wasps 22 Discussion Threads

[fastcat99] 17/8/2022 10:36

Yes, Simon Jordon does HAVE serious money, AND previous experience (disastrous !) in ownership of a middling-good Football Club (Crystal Palace 2000-2008#9/10)
He can also use his daily slot on Talk Sport to keep the pot boiling

[cardsurfer] 17/8/2022 10:06

Interesting dynamic emerging re potential sale of Coventry City and looking at lease purchase of ground - driven by WASPS financial instability. Could represent a better way out for bondholders :... hxxps://www.coventrytelegraph.net/sport/football/football-news/coventry-city-sale-simon-jordan-24769939

[fastcat99] 17/8/2022 09:21

Better news

hxxps://www.coventrytelegraph.net/sport/football/football-news/coventry-city-wasps-stadium-pitch-24775651?utm_source=coventry_live_newsletter&utm_campaign=breaking_ccfc_newsletter2&utm_medium=email

Exec summary - CCFC recently triggered dispute resolution in their 10 year ground-ahsring contract; the Mayor mediated; agreement has been reached (involving relaying of the pitch)

[fastcat99] 17/8/2022 09:11

I don't think there was any sort of MEETING in January 2018.
Sorry if I have caused any confusing, as I have been referring to that occasion in previous posts (it gives the precedent for Wasps Finance making a payment to bondholders for breach of covenants: ie the events leading up to resignation of the Auditors, etc)

[bigfish1] 17/8/2022 06:39

Apparently as well as the consent solicitation in October 2020 there was a bondholders meeting in January 2018 to wave covenants that had been broken. Did anyone hear about that one?

[stevros] 16/8/2022 21:55

Wasps Community Foundation now shut down due to not filing accounts.

[barondene] 15/8/2022 13:50

PUSB : But "they" have not done that for nothing and the asset is outside of WH.

It is also outside of the original intentions when the Arena was bought

The WASPS supporters clearly dont mind but if I had taken on the positive blurb about this Company when investing - I would be upset

[barondene] 15/8/2022 13:47

The original terms of the Arena Sale stated WASPS would build a training facility there. They ended up in Henley and the site not in WASPS Holdings name

They were due to build the Hotel on Car Park C and given a 2 year building licence - with a view of being ready for the CWG. That lapsed and a further building licence granted - but that was not WH name - again for the CWG. A £2m fee was due on planning but that agreement has also lapsed ( although the publicity stated it was hoped to be ready for the CWG )

If you are on the Companies House search route follow this trail back to the Chargor

[pusb] 15/8/2022 13:33

Barondene They spent £4 million buying the land and developing the training centre.

[pusb] 15/8/2022 13:32

Full details of Shareholders
The details below relate to individuals/corporate bodies that were shareholders during the review period or that had ceased to be shareholders since the date of the previous confirmation statement.
Shareholder information for a non-traded company as at the confirmation statement date is shown below
Shareholding 1: Name:
Shareholding 2: Name:
50 transferred on 2022-05-13
0 ORDINARY shares held as at the date of this confirmation statement MOONSTONE HOLDINGS LTD
100 ORDINARY shares held as at the date of this confirmation statement
LOXWOOD HOLDINGS LIMITED

[barondene] 15/8/2022 13:29

hxxps://stratfordobserver.co.uk/news/conflict-of-interest-denied-over-wasps-henley-green-belt-plan-as-petition-tops-2000-names-16178/

The twitter feed says it all. There was reported to be a pre-purchase "understanding" the LA would also grant planning for residential

I assume the Rugby Club must be paying something for the use of the facilities?

[bigfish1] 15/8/2022 13:29

I believe he is trying to asset strip before any possible administration proceedings.

[pusb] 15/8/2022 13:28

The Orchards should read Richardson.

[pusb] 15/8/2022 13:27

What I saw was that The orchards on and Loxwood had 50 shares each (total 100). Loxwood now have 100 shares since 13 May 2022.

[cc2014] 15/8/2022 12:23

Actually I looked again and there what is says is that Derek Richardson has no signficant control not that he sold it.

Later filings show that some of the shares got transferred to Moonstone which IIRC is owned by Richardson so he "sold it to himself" or at least partly to himself.

Also some involvement by Loxwood who is Chistopher Holland

My guess it's going to be developed and the shares have been moved around for tax reasons or Holland is taking a bigger part of the shareholding as he is putting in the capital for the redevelopment. A bit of a guess and I'm stretching.

[cc2014] 15/8/2022 12:17

Looks like sold to Christopher Holland who is also a director of Wasps Holdings Ltd

[barondene] 15/8/2022 11:44

It looks like a private sale by DAR so nothing in the public domain. It does mean that something that was thought to be a WASPS asset - is not

The Hotel site which is often referred to as an asset is similar. The building licence has lapsed but was not WH name anyway

[ozzie_dog] 15/8/2022 10:40

Does anyone know what the shares in the new training ground were worth? I am just wondering if DR might have sold them to use the released equity to help with the bond issue.

[dandigirl] 15/8/2022 08:53

barondene: thank you. A good article. Hard to disagree with Paul Smith’s assessment.

With every day that passes, the problems appear to mount up.

[barondene] 14/8/2022 15:25

hxxps://www.rugbypass.com/news/how-wasps-lost-the-battle-for-coventrys-hearts-and-minds/

[barondene] 13/8/2022 15:35

hxxps://www.msn.com/en-gb/sport/football/exclusive-coventry-city-could-sue-landlords-wasps-after-unsafe-pitch-forces-second-postponement/ar-AA10CQly