Wasps gone pop : Mon Oct 17, 2022 3:01 pm  

All staff made redundant and the stadium company has filed for administration, desperate times for them and the RFL must be hoping they don't put the padlocks on before the Aus v Scotland match Friday

Re: Wasps gone pop : Mon Oct 17, 2022 3:38 pm  

Re: Wasps gone pop : Mon Oct 17, 2022 7:08 pm  

apollosghost wrote:

All staff made redundant and the stadium company has filed for administration, desperate times for them and the RFL must be hoping they don't put the padlocks on before the Aus v Scotland match Friday

Coworker is a Coventry City fan, he was saying that the stadium reverts to council ownership due a clause in the contract when Wasps bought it.

Re: Wasps gone pop : Mon Oct 17, 2022 7:56 pm  

Lets hope they move it to Leigh

Re: Wasps gone pop : Tue Oct 18, 2022 10:47 am  

there was an article shared on facebook about 3-4 weeks ago with the level of debt in club RU

lots of comments saying it was untrue and that the business models were sound, and that its normal in business to carry that level of debt

since then, however, 2 clubs have gone bust, so there must have been some truth / relevance in the article, and the question to be asked, are there more to follow?

Re: Wasps gone pop : Tue Oct 18, 2022 11:16 am  

The pieman wrote:

there was an article shared on facebook about 3-4 weeks ago with the level of debt in club RU

lots of comments saying it was untrue and that the business models were sound, and that its normal in business to carry that level of debt

since then, however, 2 clubs have gone bust, so there must have been some truth / relevance in the article, and the question to be asked, are there more to follow?

Interesting read on RedVee (seriously) on this topic, one of the posters has pointed out Leicester RU's next two home fixtures were to be Wasps and Worcester and they (Leicester) are expecting the cancellation of those fixtures to cost them in the region of £700k in lost revenue.
Massive knock on effect for the entire league

Re: Wasps gone pop : Tue Oct 18, 2022 12:05 pm  

apollosghost wrote:

Interesting read on RedVee (seriously) on this topic, one of the posters has pointed out Leicester RU's next two home fixtures were to be Wasps and Worcester and they (Leicester) are expecting the cancellation of those fixtures to cost them in the region of £700k in lost revenue.
Massive knock on effect for the entire league

I wonder when it will happen to SL. I look at some clubs, with no real fan base or marketability, who continue to pay overs for signings. All propped up by a single owner. How long can that business model work?

Re: Wasps gone pop : Tue Oct 18, 2022 1:26 pm  

sergeant pepper wrote:

I wonder when it will happen to SL. I look at some clubs, with no real fan base or marketability, who continue to pay overs for signings. All propped up by a single owner. How long can that business model work?

We've already lost key clubs in a way.

Widnes, Bradford and Halifax are all still functioning, but their glory days are long behind them with no hope of returning.

There's no doubt that RL is also under threat. At domestic level, neither code seems capable of regularly pulling in the sort of crowds they need to pay massive wages etc. But I think it's safe to say that RU went much further than RL when it came to putting big bucks on the table.

The likes of Faz, Jason Robinson, Henry Paul and Sam Burgess would never have gone over if some of the most successful clubs in RL hadn't been easily outbid. The fact there've been very few (if any) high-level defections from Union to League in the last 25 years surely proves it too.

I just hope the IMG deal helps us get our act together in time. There is certainly no time for faffing about.

Re: Wasps gone pop : Tue Oct 18, 2022 1:32 pm  

This is the article i referred to earlier, which claimed the clubs were in debt to tune of about £500m (i tried Guardian / Telegraph and then daily mail to find it ) https://www.dailymail.co.uk/sport/rugby ... risis.html I dont think RL is that bad, but as others have alluded to the majority of clubs arent profitable / breaking even on an annual basis, so are relying on prop ups from owners to keep them viable.

This is the article i referred to earlier, which claimed the clubs were in debt to tune of about £500m (i tried Guardian / Telegraph and then daily mail to find it ) https://www.dailymail.co.uk/sport/rugby ... risis.html I dont think RL is that bad, but as others have alluded to the majority of clubs arent profitable / breaking even on an annual basis, so are relying on prop ups from owners to keep them viable.

Re: Wasps gone pop : Tue Oct 18, 2022 4:30 pm  

apollosghost wrote:

Interesting read on RedVee (seriously) on this topic, one of the posters has pointed out Leicester RU's next two home fixtures were to be Wasps and Worcester and they (Leicester) are expecting the cancellation of those fixtures to cost them in the region of £700k in lost revenue.
Massive knock on effect for the entire league

Oh dear, how sad, never mind.