Wasps won't make same mistakes as Worcester but situation is perilous - Andy Goode
Wasps won’t make the same mistakes as Worcester but there’s no hiding from the perilous situation they find themselves in.
Meetings have been held today with players and staff, with communication key to what happens moving forwards, and a number of options are on the table but time is very definitely of the essence.
Wasps have not gone into administration, although that remains a possibility, but they have taken the decision to enter a Notice of Intention to Appoint an Administrator (NOI) after HMRC announced their intention to issue a winding-up order against the club.
That buys them time, 10 working days initially with the potential of another 10 working days if things are proceeding well, to “secure the long-term future” of the club and negotiations to that end have been going on for quite some time already with various interested parties.
Wasps’ hand has been forced by HMRC asking for a payment into the millions of pounds, despite the two parties having previously agreed to a payment plan, but action was needed and now only time will tell how it will all play out.
The side of the business that includes the arena, hotel and casino is reportedly performing well, after a period where it was clearly hit very hard by the pandemic, but the rugby element is certainly not.
That will come as no surprise to anyone and Bristol owner Steve Lansdown summed up the problem facing the sport on BBC Radio 4’s Today programme earlier by describing rugby as “its own worst enemy” and as a “black hole” for investment.
“For people to invest into it, it’s a passion. It’s not one you can point to and say you can invest into it and make a return on your money,” Lansdown added.
“We had the deal with CVC but to date that’s been a little bit disappointing. Hopefully we’ll see that improving in the future.”
We’ve heard nothing at all about what CVC make of all this after they invested in the Six Nations, URC and other rugby products, as well as Premiership Rugby, so it’d be a very opportune moment for them to raise their head above the parapet.
Ploughing more money in isn’t the answer but their plan is certainly of interest and the RFU needs to decide too whether it is prepared to be lenient on clubs, especially given there is currently no relegation anyway, or whether they agree with Rob Baxter that there are too many clubs.
There is a ‘no-fault’ clause in its rules if clubs can demonstrate that the financial issues were not their fault but the consequence of insolvency occurring after a season has started is relegation.
In Wasps’ case, some people will point to the relocation to Coventry, the bond scheme and some of the bold claims that were made and take a pot shot at the club but it has over 150 years of history and some excellent people involved and you have to hope that a positive outcome can be reached.
For what it’s worth, there weren’t a lot of alternatives to the move to the Midlands at the time and the bond did raise a much-needed £35 million, with investors still receiving 6.5% interest while the club is attempting to refinance debt.
All rugby clubs have suffered as a result of the pandemic and Wasps and Worcester won’t be the only ones looking over their shoulder with HMRC seemingly chasing payments but they are the ones firmly in the firing line for now.
Things are looking bleak for the Warriors as things stand and there’s nothing to say Wasps won’t end up in administration but, knowing the people involved at the club and having spoken to chief executive Stephen Vaughan, I’m confident the situation will be handled and communicated better.
Rugby’s finances have been a ticking time bomb for a long time and explosions are now going off. A lot of livelihoods are at stake and Wasps have a bit more time on their hands than Worcester but we’ll have to wait and see whether a solution can be found.
Comments on RugbyPass
Big difference from the Saders. Forwards really muscled up and laid a solid platform. Scooter brought some steel and I liked the loosie combination. Newell has been rather disappointing this season but stepped up big time - happy also to see Franks dot down. He should do that more often! Reihana had a good game and there seems to be more flair and invention with him in the saddle. McNicoll plays well from the back and is reliable plus inventive when he joins the line. Keep it up chaps!
3 Go to comments🤦♂️🤣 who cares who’s the best . All I know is the All Blacks have the star coach but have few star players now …
30 Go to commentsJe suis sûr que Farrell est impatient de jouer avec Lopez et Machenaud et d’être entraîné par Collazo… 🤭
1 Go to commentsAn on field red (aka a full red) in SRP must surely carry a bigger suspension than a red card given by the bunker as that carries a 20 minute team punishment. Had Damon Murphy abdicated his responsibility as a ref and issued both Drua players a yellow, which would have been upgraded to a 20 minute red by the bunker, that would have killed Australia and New Zealand’s push for the 20 minute red to be trialled globally from July this year.
11 Go to commentsEver so often you all post a Danny Care story that isn’t the announcement that he has finally re-signed for one more, victory tour season at Quins and I’m just like, “well you fooled me again!” My absolute favorite player ever, we need to make his final year at the Stoop (and Twickers) official already. I know he supposedly snubbed France but I won’t feel better until he signs.
1 Go to commentslate hit what late hit it wasn’t at all late and can clearly see he was committed before the tackle
1 Go to commentsChristian Lio -Willies 2 try perfomance was a standout. As was captain Scott Barrett. Up front was where the boys won it.They are a great team and players. Fantastic Crusaders , you can keep going.
3 Go to commentsI don't know how the locals feel about that? I guess if you call yourselves the Worcester Wasps that might be appease. But really we need more teams in the Premiership in my view so they are not padding it out as they are at the moment. It might curtail so many players going abroad as well
5 Go to commentsNZ 😭😭😭is certainly rivaling England for best whingers cup!😭😭😭 !!!
30 Go to commentsYup. New Zealand won 3 out of 10 world cups played. SA 4 out of 8 attempts 30 Vs 50 per cent.🤔🤔
30 Go to commentsShould've done this years ago. Change Saturday kick off times to around 11am. Up and off and back home before 3pm, limit travel time too. Allows players to actually do something else with their Saturday that's family oriented or being rugby fans they could ‘watch’ pro rugby. Increases crowds etc. How can anyone that enjoys grassroots and pro rugby have to choose between the two on Saturdays?
9 Go to commentsI bet he inspired those supporters just as much.
1 Go to commentsBen Smith Springboks living rent free in his head 😊😂
67 Go to commentsGood to hear he would like to play the game at the highest level, I hadn’t been to sure how much of a motivator that was before now. Sadly he’s probably chosen the rugby club to go to. Try not to worry about all the input about how you should play rugby Joey and just try to emulate what you do on the league field and have fun. You’ll limit your game too much (well not really because he’s a standard athlete like SBW and he’ll still have enough) if you’re trying to make sure you can recycle the ball back etc. On the other hard, you can totally just try and recycle by looking to offload any and everywhere if you’re going to ground 😋
1 Go to commentsThis just proves that theres always a stat and a metric to use to justify your abilities and your success. Ben did it last week by creating an imaginary competition and now you did the same to counter his argument and espouse a new yardstick for success. Why not just use the current one and lets say the Boks have won 4 world cups making them the most successful world cup team. Outside of the world cup the All Blacks are the most successful team winning countless rugby championships and dominating the rankings with high win percentages. Over the last 4 years statistically the Irish are the best having the highest win rate and also having positive records against every tier 1 side. The most successful Northern team in the game has been England with a world cup title and the most six nations titles in history. The AB’s are the most dominant team in history with the highest win rate and 3 world cups. Lets not try to reinvent the wheel. Just be honest about the actual stats and what each team has been good at doing and that will be enough to define their level of success.
30 Go to commentsHow is 7’s played there? I’m surprised 10 or 11 man rugby hasn’t taken off. 7 just doesn’t fit the 15s dynamics (rules n field etc) but these other versions do.
9 Go to commentsPick Swinton at your peril A liability just like JWH from the Roosters Skelton ??? went missing at RWC
14 Go to commentsLike tennis, who have a ranking system, and I believe rugby too, just measure over each period preceding a world cup event who was the longest number one and that would be it. In tennis the number one player frequently is not the grand slam winner. I love and adore the All Blacks since the days of Ian Kirkpatrick when I was a kid in SA. And still do because they are the masters of running rugby and are gentleman on and off the field - in general. And in my opinion they have been the majority of the time the best rugby team in the world.
30 Go to commentsHaving overseas possessions in 2024 is absurd. These Frenchies should have to give the New Caledonians their freedom.
21 Go to commentsBell injured his foot didn’t he? Bring Tupou in he’ll deliver when it counts. Agree mostly but I would switch in the Reds number 8 Harry Wilson for Swinton and move Rob Valentini to 6 instead. Wilson is a clever player who reads the play, you can’t outmuscle the AB’s and Springboks, if you have any chance it’s by playing clever. Same goes for Paisami, he’s a little guy who doesn’t really trouble the likes of De Allende and Jordie Barrett. I’d rather play Carter Gordon at 12 and put Michael Lynagh’s boy at 10. That way you get a BMT type goalkicker at 10 and a playmaker at 12. Anyways, just my two cents as a Bok supporter.
14 Go to comments