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Wasps/Worcester
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Paul10 View Drop Down
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Points: 916 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Paul10 Quote  Post ReplyReply Direct Link To This Post Posted: 25 Apr 2024 at 18:25
Owners of Worcester Warriors enter administration.

Still talk of re-entering elite rugby.

I haven't got the energy to read it all
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Kimbo View Drop Down
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Points: 6605 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Kimbo Quote  Post ReplyReply Direct Link To This Post Posted: 25 Apr 2024 at 19:33
Originally posted by Paul10 Paul10 wrote:

Owners of Worcester Warriors enter administration.

Still talk of re-entering elite rugby.

I haven't got the energy to read it all



You couldn't make this s**t up.
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Robb View Drop Down
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Points: 1679 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Robb Quote  Post ReplyReply Direct Link To This Post Posted: 25 Apr 2024 at 19:51
Originally posted by Paul10 Paul10 wrote:

Owners of Worcester Warriors enter administration.

Still talk of re-entering elite rugby.

I haven't got the energy to read it all




Sold off all the family silver and still spunk it all? Unbelievable. I think that's the warriors dead and buried then.
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islander View Drop Down
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Points: 7872 		Post Options Post Options   Thanks (0) Thanks(0)   Quote islander Quote  Post ReplyReply Direct Link To This Post Posted: 25 Apr 2024 at 20:29
Originally posted by Paul10 Paul10 wrote:

Owners of Worcester Warriors enter administration.

Still talk of re-entering elite rugby.

I haven't got the energy to read it all



I read it, but barely understood it - was left with an even stronger conviction about how unwise it would be to touch this cr0ck of $h1t with a bargepole
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FHLH View Drop Down
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Points: 5575 		Post Options Post Options   Thanks (0) Thanks(0)   Quote FHLH Quote  Post ReplyReply Direct Link To This Post Posted: 25 Apr 2024 at 21:12
(1) want to help Wasps to Kent and Championship
(2) want bring Worcester back into Championship
(3) can only do that will an Admintration (carry on) rather than Liquidation (give up) 
(4) can two clubs be owned by the same entity (Loxwood Holdings) under RFU regs?

Or have I read this wrongly?

("Atlas Worcester Warriors have fallen into administration with Loxwood Holdings, the group company that owns Wasps, stepping in to take over the former Sixways-based Gallagher Premiership" ) 


Edited by FHLH - 25 Apr 2024 at 21:15
"My father told me big men fall just as quick as little ones, if you put a sword through their hearts."
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Kimbo View Drop Down
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Points: 6605 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Kimbo Quote  Post ReplyReply Direct Link To This Post Posted: 25 Apr 2024 at 22:19
Originally posted by FHLH FHLH wrote:

(1) 
(4) can two clubs be owned by the same entity (Loxwood Holdings) under RFU regs?

Or have I read this wrongly?

World Rugby Regulation 14 seems to say 'no'.
(Similar for FA Prem, UEFA etc, and rightly so, imo).
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Paul10 View Drop Down
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Points: 916 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Paul10 Quote  Post ReplyReply Direct Link To This Post Posted: 26 Apr 2024 at 08:00

[/QUOTE]

I read it, but barely understood it - was left with an even stronger conviction about how unwise it would be to touch this cr0ck of $h1t with a bargepole
[/QUOTE]

I'm glad you said that. I'm an accountant with years of experience in sport but this word spaghetti made no sense to me.
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Camquin View Drop Down
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Points: 12017 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 26 Apr 2024 at 09:55
For now, it is OK.
Neither Wasps nor Worcester are clubs in a league.

Sweeney Delenda Est
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WEvans View Drop Down
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Points: 1456 		Post Options Post Options   Thanks (0) Thanks(0)   Quote WEvans Quote  Post ReplyReply Direct Link To This Post Posted: 26 Apr 2024 at 15:31
Originally posted by Camquin Camquin wrote:

For now, it is OK.
Neither Wasps nor Worcester are clubs in a league.


Sadly I doubt this latest news will in any way stall the RFU's plans to have these "top brands" in the highest level of professional rugby they can get away with.
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Ex-Worcester co-owners upset by new administration

Quote
The American-based medical company involved in the original bid to rescue Worcester Warriors from administration has condemned the latest development in the troubled Sixways club’s ownership battle.

Total Compliance Solutions (TCS) said fans "are right to be very concerned" at a new consortium called Junction 6 Ltd taking over ownership of the stadium, associated chattels and the Warriors' brand.

TCS also claim that former Warriors owners Jason Whittingham and Colin Goldring remain involved, although both have strenuously denied this, saying that the TCS statement was "ridiculous and can’t go unanswered".

Along with Jim O’Toole, James Sandford and Atlas Sportstech, TCS were 3% shareholders when Atlas Worcester Warriors Ltd were announced in February 2023 by administrators Begbies Traynor as the preferred bidders.

But, when Atlas failed to repay a loan by the due date in May 2023, Loxwood Holdings - owned by Chris Holland, the owner of fellow defunct Premiership club Wasps - became 97% owners by default.

Ten months later, Loxwood then put Atlas into a pre-pack administration on 26 March, re-emerging that same day under the name of Junction 6, a company entirely owned by Holland's Loxwood.

'Leaving the taint of the past behind'

While questions remain unanswered, particularly about the return of professional rugby union to Sixways, the local feeling among fans and interested parties was that the Junction 6 takeover finally freed up a log jam that had threatened to immerse the club in total inertia.

"The last few years have been pretty traumatic for everyone connected with the club," Worcester Warriors Foundation CEO Carol Hart told BBC Hereford and Worcester. "It’s wonderful to be able to finally engage with a credible ownership that wants to support a way back."

Steve Lloyd, chairman of neighbours Worcester RFC - the city’s amateur club, said "it’s hugely positive".

"It’s about the future, moving forward and reigniting the passion for rugby in Worcester. It’s about leaving the taint of the past behind,’ he added.

But TCS told BBC Hereford and Worcester: "A lot of fans and community members have raised questions and concerns. They are right to be very concerned.

"We have witnessed and endured improprieties and what we deem as gross negligence from several parties and institutions in this transaction.

"This includes but is not limited to the previous owners Colin and Jason’s continued involvement and financial gain at the cost of this community, team and staff.

"We have discovered that some of the land has been stripped and isn’t a part of the sale. A certain payment for a period of 10 years has been applied to this site so that no matter who purchases this, the cowboys continue to benefit financially."

When approached for their response, as well as dismissing the suggestion of any continued involvement, Whittingham and Goldring also denied allegations of land stripping and financial gain.

They told BBC Hereford and Worcester: "The statement from TCS is completely untrue. Nothing more than a fabrication.

"For clarity, we do not have any continuing involvement in the club and we do not receive any financial benefit from it.

"Before the administration, when we were working to keep the club going, a substantial seven-figure cashflow loan was delayed because of uncertainty in the economy. We had to raise funds in the meantime to pay wages.

"A parcel of land over the canal was sold to Worcester Capital Investment Ltd. Every penny from that sale went into the club along with our own money. We did not receive any financial gain from this sale and do not receive any payments from it.

"As a part of the sale we negotiated a 10-year lease back in favour of the rugby club to ensure that they could continue to use and generate income from the land.

"The ground rent payable under that lease is payable to Worcester Capital Investments.

"WCI is nothing at all to do with either Bond Group or us personally and we do not receive any benefit from it. Ownership can be confirmed on both Land Registry and Companies House."
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Robb View Drop Down
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Points: 1679 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Robb Quote  Post ReplyReply Direct Link To This Post Posted: 11 May 2024 at 00:51
P-up brewery. 

Absolute joke they've even consider allowing this shower that owns a dead club's rights the chance to resurrect the zombie in the 2nd tier without earning it.
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WEvans View Drop Down
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Points: 1456 		Post Options Post Options   Thanks (0) Thanks(0)   Quote WEvans Quote  Post ReplyReply Direct Link To This Post Posted: 11 May 2024 at 14:55
So the TCS mob failed to pay money owed (where have we heard that before?) to Loxwood who then went into administration (where have we hear that before?) before emerging as J6 another wannabe owner (where have we heard that before?) who the long-suffering supporters desperately hope might actually have some money and some integrity. What can possibly go wrong?
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Points: 5575 		Post Options Post Options   Thanks (0) Thanks(0)   Quote FHLH Quote  Post ReplyReply Direct Link To This Post Posted: 11 May 2024 at 16:11
Originally posted by WEvans WEvans wrote:

. What can possibly go wrong?

You clearly have no understanding of business management 😎
"My father told me big men fall just as quick as little ones, if you put a sword through their hearts."
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WEvans View Drop Down
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Points: 1456 		Post Options Post Options   Thanks (0) Thanks(0)   Quote WEvans Quote  Post ReplyReply Direct Link To This Post Posted: 12 May 2024 at 13:45
Originally posted by FHLH FHLH wrote:

Originally posted by WEvans WEvans wrote:

. What can possibly go wrong?

You clearly have no understanding of business management 😎

Nonsense. Do you want to buy a bond?
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FHLH View Drop Down
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Points: 5575 		Post Options Post Options   Thanks (0) Thanks(0)   Quote FHLH Quote  Post ReplyReply Direct Link To This Post Posted: 12 May 2024 at 18:01
Originally posted by WEvans WEvans wrote:

Originally posted by FHLH FHLH wrote:

Originally posted by WEvans WEvans wrote:

. What can possibly go wrong?

You clearly have no understanding of business management 😎

Nonsense. Do you want to buy a bond?

Two for the price of three?
"My father told me big men fall just as quick as little ones, if you put a sword through their hearts."
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Raider999 View Drop Down
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Points: 4536 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Raider999 Quote  Post ReplyReply Direct Link To This Post Posted: 13 May 2024 at 15:44
Originally posted by WEvans WEvans wrote:

Originally posted by FHLH FHLH wrote:

Originally posted by WEvans WEvans wrote:

. What can possibly go wrong?


You clearly have no understanding of business management 😎


Nonsense. Do you want to buy a bond?


A good way to turn an amount of money into a smaller amount - just ask the Wasps bond holders
RAID ON
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WEvans View Drop Down
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Points: 1456 		Post Options Post Options   Thanks (0) Thanks(0)   Quote WEvans Quote  Post ReplyReply Direct Link To This Post Posted: 13 May 2024 at 15:53
Originally posted by Raider999 Raider999 wrote:

Originally posted by WEvans WEvans wrote:

Originally posted by FHLH FHLH wrote:

Originally posted by WEvans WEvans wrote:

. What can possibly go wrong?


You clearly have no understanding of business management 😎


Nonsense. Do you want to buy a bond?


A good way to turn an amount of money into a smaller amount - just ask the Wasps bond holders

That was rather my point!
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Points: 905 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Scrumtime Quote  Post ReplyReply Direct Link To This Post Posted: 06 Sep 2024 at 18:42
Word hot off the press and on the street in Saf East Ldn  is Wasps have agreed a deal with Charlton FC to use the Valley next season and be entered into Premier II ... They will use Charlton Park  RFC as a training ground and play home matches at the Valley when Charlton are not using it  ... They have already had this as good as rubber stamped Im told bt the RFU .....no smoke without fire as they say and groundsman tend to know what they are talking about!!!!
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Already commented on in other threads - an article in the Times said this but no corroboration from other sources yet.
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Charlton park president said today, no one has spoken to them. Plus I believe Charlton were none to happy when London Broncos played there a few years ago and they didn’t do proper scrums 
So many Christians not enough Lions
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