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Worcester & Wasps
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KnightsBoy View Drop Down
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Points: 2738 		Post Options Post Options   Thanks (0) Thanks(0)   Quote KnightsBoy Quote  Post ReplyReply Direct Link To This Post Posted: 19 Dec 2022 at 12:26
Originally posted by Kimbo Kimbo wrote:

"They don't pass the test" Nick Johnston, CEO of Coventry Rugby Club responds to Wasps return to the Championship.

Wasps have been given approval to play in the Championship, if they adhere to a number of conditions.
The club was first suspended, then removed from the Premiership after going into administration.

They've been given the green light to return to the Championship, the second tier of pro-rugby in England, after the RFU approved the sale of the collapsed club to a group headed by the Wasps Legends charity.

However it's rumoured the club will play at Solihull Moors ground and not the CBS Arena, although they'll play Cov at the Butts Park Arena at least once next season. So how's this going down with Coventry Rugby?

Phil Upton spoke to Nick Johnston, the CEO of the Butts Park club.

Release date:

Great statement from Coventry, I hope this encourages other championship club too make their stance clear.


Edited by KnightsBoy - 19 Dec 2022 at 12:26
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OldNick View Drop Down
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Points: 3414 		Post Options Post Options   Thanks (0) Thanks(0)   Quote OldNick Quote  Post ReplyReply Direct Link To This Post Posted: 19 Dec 2022 at 13:47
While everyone has sympathy for the players, staff, and creditors of both the two failed clubs, there is no doubt that in both cases their financial management prior to administration crossed the line between astute conduct and Lovelyion. Actions such as not paying PAYE for their employees, transferring properties between subsidiary companies to move them outside the scope of administration, dissolving trusts put in place to ensure separation of assets from operating failures, and other si.ilar measures all occurred, and all fall outside the bounds of proper financial conduct.

So, what happens when the applications are made to allow the names, and high tier status of the two clubs to survive as Phoenix clubs?The Worcester phoenix throws it's teddy out of the pram when it appears that the RFU is going to require a level of ongoing scrutiny of their affairs that we can all see is necessary for not just them, but every Premiership club, present or future.
With Wasps it is even worse - they blackmail the RFU with the threat that as they have no viable plan to comply with regulation 5.1 regarding staying in the same ground for 3 years they will fold (with all the bad publicity from their Legends group of popular former players), unless the RFU breaks their own rules to allow them (first) to play at an alternative ground ten miles down the A45  from Coventry, and even then to not be required to commit to playing there for the minimum three seasons required by the regulations.

In response to which the RFU bends, breaks its own rules (designed to ensure financial probity) and allows Wasps to set up shop a short 15inutes drive from Coventry rugby club.

I wonder how many players' agents at 3rd placed Coventry have already been contacted to recruit the Wasps team for promotion next season.

This action by the RFU stinks of Lovelyion, doing deals with the d  oys former players network to ensure survival of one of the cartel, by disregarding their own rules, put in place to ensure financial probity. They have put themselves in the same bracket as the spivs and shysters who brought down these two clubs .
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Thatbloke View Drop Down
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Points: 1721 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Thatbloke Quote  Post ReplyReply Direct Link To This Post Posted: 19 Dec 2022 at 14:03
Old Nick - keep watching these spaces - much is going on behind the scenes to bring the RFU to account. Can't say more at this stage! 
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WEvans View Drop Down
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Points: 1375 		Post Options Post Options   Thanks (0) Thanks(0)   Quote WEvans Quote  Post ReplyReply Direct Link To This Post Posted: 19 Dec 2022 at 18:48
Originally posted by tigerburnie tigerburnie wrote:

After the way that Wasps have fleeced their fans and it seems the new owners will not be re paying them in full, I will be surprised if many will show up in Solihull to watch Brummijum Pests.

That's LondonWycombeCoventryBirmingham Defaulters to you tigerburnie!

Or let's just call them LWCB Defaulters for short.


Edited by WEvans - 19 Dec 2022 at 18:49
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Thatbloke View Drop Down
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Points: 1721 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Thatbloke Quote  Post ReplyReply Direct Link To This Post Posted: 19 Dec 2022 at 19:26
Can someone explain to me how relegation to the Championship is a relevant sanction when that is something that could have happened anyway - even to well run financially viable Prem clubs (if there are any?)
How does that send a message to others that gross mismanagement and financial shenanigans won't be tolerated? Disregarding their own rules and regulations is surely against their constitution and therefore by definition unlawful. Tell you what let's make it a mandatory £10 fine for murder that'll put people off!
Disgrace beyond compare - action from the rest of the Community game is required to bring these cowboys to account and get ourselves a capable and equitable governing body that looks after all its members, not just the top table


Edited by Thatbloke - 19 Dec 2022 at 19:27
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Moseleyfan View Drop Down
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Points: 13 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Moseleyfan Quote  Post ReplyReply Direct Link To This Post Posted: 19 Dec 2022 at 23:13
I sense revolution in in the air. Revenge is a dish best served cold. Time to bring the whole Lovely edifice down. 
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Kimbo View Drop Down
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Points: 6202 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Kimbo Quote  Post ReplyReply Direct Link To This Post Posted: 19 Dec 2022 at 23:19
I wonder why the word 'corrup t' needs to be corrup ted by this board?
How ridiculous.
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ParkBench View Drop Down
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Points: 152 		Post Options Post Options   Thanks (0) Thanks(0)   Quote ParkBench Quote  Post ReplyReply Direct Link To This Post Posted: 20 Dec 2022 at 17:46
More info on the Worcester takeover:


Key quotes pasted below (but it's taken from the post linked above) - note the mention of a new PRL creditor :

Administrators entered into a preferred bidder agreement with Atlas to acquire the club, together with the stadium and surrounding land, in October.

A statement from the administrators at Begbies said they are "willing to re-enter into discussions with any interested parties, although they will first need to satisfy the RFU's takeover process given the conditions being placed on any proposed purchase".

It added: "We await confirmation from the RFU on the relevant timelines for them to reach this position given the urgency of the matter. This must include total clarity on the rugby creditor position given the very late notice of an additional material claim from the PRL which other interested parties were not aware of.

"The joint administrators' statutory duty is to maximise the return to creditors. Therefore, any offer from interested parties must equal or exceed the offer made by Atlas Worcester Warriors.

"We urge the relevant stakeholders to work collaboratively and in a timely manner with all interested parties (including Atlas Worcester Warriors) to ensure that elite rugby remains in Worcester."
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Fly Half View Drop Down
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Points: 105 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Fly Half Quote  Post ReplyReply Direct Link To This Post Posted: 22 Dec 2022 at 10:04
Wasps?  Am I correct in believing that the new owners of Wasps need to clear all rugby related debts, in order to take their position in the Championship next season? I believe the total debt amounts to approx £100 mill - quite unbelievable - how much of that is 'rugby related'? i.e. essentially how much do the new owners have to fork out, in order to be in the Championship next season?

The latest story in the Telegraph is even more worrying, particularly for Irish and Harlequins, whilst it has also emerged that Sales attempt to buy the Stadium has fallen through and ownership will remain with the Council.
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rugbychris View Drop Down
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Points: 141 		Post Options Post Options   Thanks (0) Thanks(0)   Quote rugbychris Quote  Post ReplyReply Direct Link To This Post Posted: 22 Dec 2022 at 11:04
And how has the closely scrutinised business plan from the new incarnation managed to raise year on year income by such a significant level to create a solvent entity? 
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WEvans View Drop Down
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Points: 1375 		Post Options Post Options   Thanks (0) Thanks(0)   Quote WEvans Quote  Post ReplyReply Direct Link To This Post Posted: 22 Dec 2022 at 14:57
Originally posted by Fly Half Fly Half wrote:

Wasps?  Am I correct in believing that the new owners of Wasps need to clear all rugby related debts, in order to take their position in the Championship next season? I believe the total debt amounts to approx £100 mill - quite unbelievable - how much of that is 'rugby related'? i.e. essentially how much do the new owners have to fork out, in order to be in the Championship next season?

The latest story in the Telegraph is even more worrying, particularly for Irish and Harlequins, whilst it has also emerged that Sales attempt to buy the Stadium has fallen through and ownership will remain with the Council.

I think you will find that "rugby related" covers a very small proportion of the money Wasps extracted from very many different individuals and businesses who will be left wondering why this disreputable club will be allowed to carry on as though they had done almost nothing wrong at all. 
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