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#Post#: 91977--------------------------------------------------
Wasps ask for millions of pounds of public money
DIR By: DOK
Date: June 16, 2022, 12:00 pm
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as financial strain builds on their stadium business
HTML https://www.bbc.co.uk/news/uk-england-coventry-warwickshire-61827414.
#Post#: 91989--------------------------------------------------
Re: Wasps ask for millions of pounds of public money
DIR By: Rocker
Date: June 16, 2022, 4:54 pm
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Oh dear 🙄
The splitters seem to lurch from one financial tight squeeze to
another....
#Post#: 91990--------------------------------------------------
Re: Wasps ask for millions of pounds of public money
DIR By: SwindonQuin
Date: June 16, 2022, 5:09 pm
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No professional sports club should be bailed out by the tax
payer, I'm already paying for 'the less fortunate' and those
'who can't find a job' despite record vacancies and the general
non working of the nation.
If they or their parent company can't afford their stadium/arena
too bad, sell up, move out, get repossessed I don't care as long
as me, a tax payer, isn't footing the bill.
Enough of my tax money is wasted already.
#Post#: 91992--------------------------------------------------
Re: Wasps ask for millions of pounds of public money
DIR By: Mayor West
Date: June 17, 2022, 3:07 am
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What happened with our bond issue a few years ago? Did anybody
invest in it and if so, how did it go.
#Post#: 91993--------------------------------------------------
Re: Wasps ask for millions of pounds of public money
DIR By: Nico Wilson
Date: June 17, 2022, 3:18 am
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--- Quote from: Mayor West link ---
>
> What happened with our bond issue a few years ago? Did anybody
invest in it and if so, how did it go.
>
--- End Quote ---
I did. It pays 5.5% interest. The bond was issued for 5 years in
2016 and has now rolled over. I was given the option of exiting
in 2021 but chose to continue with it.
It was woefully undersubscribed - they were initially talking of
raising £15m, then they were targeting £7.5m and eventually only
raised £3m.
Unfortunately the bonds aren't listed (this means that they
aren't transferable and so can't be held in a SIPP or ISA), and
I think this affected uptake.
Initially there were meetings/presentations for bondholders but
these seem to have petered out, and I get nothing from the club
other than an occasional letter.
#Post#: 92025--------------------------------------------------
Re: Wasps ask for millions of pounds of public money
DIR By: Mayor West
Date: June 17, 2022, 10:14 am
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5.5% interest is pretty good at the moment. Wish I’d bought some
now but I couldn’t find anybody that thought they would be a
good thing.( I asked a couple of people involved in the finance
world).
#Post#: 92029--------------------------------------------------
Re: Wasps ask for millions of pounds of public money
DIR By: Archquin
Date: June 17, 2022, 10:53 am
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5.5% on 250K isn't a bad return ;-)
#Post#: 92030--------------------------------------------------
Re: Wasps ask for millions of pounds of public money
DIR By: Nico Wilson
Date: June 17, 2022, 11:10 am
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--- Quote from: Archquin link ---
>
> 5.5% on 250K isn't a bad return ;-)
>
--- End Quote ---
Nor is 5.5% on 500k
#Post#: 92031--------------------------------------------------
Re: Wasps ask for millions of pounds of public money
DIR By: Banstead Quin
Date: June 17, 2022, 11:33 am
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Yeah the SIPP/ISA thing is an issue, shame. Still, launch
another one now and you might get more take up. Unless DOKs
butter beats us to them :-)
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