Wasps face administration as takeover talks fail

[TRF_Cymro]

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Wasps have issued an urgent appeal for potential new investors to step forward after takeover negotiations stalled, raising the ugly spectre of the club being forced to go into administration.

http://www.espnscrum.com/premiership-2011-12/rugby/story/162594.html
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Not good if they go into administration. They need to find about £2 million within the next month or so to avoid a likely 15-point deduction. Bare in mind Wasps are currently only eight points ahead of Newcastle, crunch time ahead.

 

[Aedaphon]

Oh ****

 

[smartcooky]

This must be a worrying sign for followers of the Premiership.

http://bleacherreport.com/articles/...uropean-champions-to-administration-nightmare

London Wasps is one of the "Big Five" of English Rugby, along with Tigers, Saracens, Quins and Bath. If they can go under, then it could happen to any of them. This just shows that the professional game in England could well be in trouble without the Clubs' individual Sugar Daddies to pick up the tab.

 

[welshglory]

Nah cooky. It wouldn't happen to either Tigers, Bath or Quins. They have big supporter bases and good business models for the most part. Sarries could do, but with their big game matches and success they look a lot more secure than Wasps have done.

Wasps are a particularly bad case and it doesn't say that if they go under, then it could happen to the rest of them at all.

 

[Nielsch]

Don't forget that the Tigers have got their own stadium, training grounds and a huge supporter base. Not saying it couldn't happen to the Tigers but it's a completely different case. Saracens will get their own stadium in due time, can draw huge crowds when marketed right (their move to London wil certainly help) and therefore is also a different case than Wasps. The Quins, well, they draw steady crowds to the Stoop and seem to be doing just fine in London.

 

[smartcooky]

As far as Sarries are concerned, have a look at this

http://companycheck.co.uk/company/03110665

Sarries' net worth has done nothing but plummet since 2006, and their liabilities have done nothing but sky-rocket.....and these guys WON the Premiership last year!!!!

Their net worth is MINUS 23.6 million POUNDS. How on earth do they continue to trade? How can they still be regarded as a "going concern"

If they were anything other that a sports club, the receivers would have already been called in, surely.

 

[McTallshort]

Sarries and Wasps need a ground to call their own. Sarries will get it but I think time is running out for Wasps but then why should it always be the Worcesters and Exeters going up or down?