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Worcester winding up order
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Camquin View Drop Down
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Points: 12087 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2022 at 14:45
I thought your ambition was the same as last year, have as much fun as possible.
Why scale that back?
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Points: 5122 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Big Eddie Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2022 at 15:35
Originally posted by Camquin Camquin wrote:

I thought your ambition was the same as last year, have as much fun as possible.
Why scale that back?


You are correct Camquin......we will not be scaling back on the fun bit, but we probably should scale back on Bob Cooke's plans for a 10,000 seater stadium........
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Points: 1936 		Post Options Post Options   Thanks (0) Thanks(0)   Quote CJB1 Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2022 at 15:55
Originally posted by Big Eddie Big Eddie wrote:

Originally posted by Camquin Camquin wrote:

I thought your ambition was the same as last year, have as much fun as possible.
Why scale that back?


You are correct Camquin......we will not be scaling back on the fun bit, but we probably should scale back on Bob Cooke's plans for a 10,000 seater stadium........
Go share Prenton with the 'Mere.
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islander View Drop Down
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Points: 7954 		Post Options Post Options   Thanks (0) Thanks(0)   Quote islander Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2022 at 16:17
Worcester have just confirmed that they won't be travelling to play Friday's pre-season match v Glasgow Warriors, citing the uncertainty about the club's position and the risk of playing and sustaining injury while on the verge of unemployment. Can see their point, altho' shame their post came an hour or 2 after Glasgow posted footage of their squad getting on coach for 170-mile journey to Inverness, where the match was due to have been played...
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Points: 3034 		Post Options Post Options   Thanks (0) Thanks(0)   Quote gerg_861 Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2022 at 16:30
Originally posted by Big Eddie Big Eddie wrote:

Originally posted by Camquin Camquin wrote:

I thought your ambition was the same as last year, have as much fun as possible.
Why scale that back?


You are correct Camquin......we will not be scaling back on the fun bit, but we probably should scale back on Bob Cooke's plans for a 10,000 seater stadium........

I would love to see Caldy just set up 10000 folding chairs  around the pitch 20 deep.
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Points: 5122 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Big Eddie Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2022 at 17:26
Originally posted by gerg_861 gerg_861 wrote:

Originally posted by Big Eddie Big Eddie wrote:

Originally posted by Camquin Camquin wrote:

I thought your ambition was the same as last year, have as much fun as possible.
Why scale that back?


You are correct Camquin......we will not be scaling back on the fun bit, but we probably should scale back on Bob Cooke's plans for a 10,000 seater stadium........

I would love to see Caldy just set up 10000 folding chairs  around the pitch 20 deep.

With Bob Cooke and Mark Loughran extensively remodelling Caldy's famous bank during this dessicating summer there is a chance that Caldy may be able to get a few thousand chairs on the terracing
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Points: 3449 		Post Options Post Options   Thanks (0) Thanks(0)   Quote kingsheathlad Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2022 at 17:45
Originally posted by islander islander wrote:

Worcester have just confirmed that they won't be travelling to play Friday's pre-season match v Glasgow Warriors, citing the uncertainty about the club's position and the risk of playing and sustaining injury while on the verge of unemployment. Can see their point, altho' shame their post came an hour or 2 after Glasgow posted footage of their squad getting on coach for 170-mile journey to Inverness, where the match was due to have been played...

If they were due to fly to Inverness for the game rather than coach that money they have lost on fare unless insured. 
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Points: 1722 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Robb Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2022 at 19:10
Originally posted by islander islander wrote:

Worcester have just confirmed that they won't be travelling to play Friday's pre-season match v Glasgow Warriors, citing the uncertainty about the club's position and the risk of playing and sustaining injury while on the verge of unemployment. Can see their point, altho' shame their post came an hour or 2 after Glasgow posted footage of their squad getting on coach for 170-mile journey to Inverness, where the match was due to have been played...

They're going bust aren't they?
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Camquin View Drop Down
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Points: 12087 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2022 at 20:37
Going?

The Warriors fans are clinging to the statement that there are three credible buyers and the players will be paid within a week.

I think I may have a bridge to sell them.

There are at least £20 million in debts.
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Points: 7954 		Post Options Post Options   Thanks (0) Thanks(0)   Quote islander Quote  Post ReplyReply Direct Link To This Post Posted: 31 Aug 2022 at 22:11
Reports this evening of a reprieve, for the time being at least, involving last-minute funding, with players being paid today + other staff within 5 days...

Reports also claim Prem has drawn up a contingency fixture list, with 12 clubs, but still hopes to utilise the original schedule, with 13...
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Points: 12087 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 01 Sep 2022 at 00:02
It came two hours after they cancelled the trip to Inverness, which in turn was two hours after Glasgow set off.

And days after SD tweeted that funding had been found for the trip from the shirt sponsor.

And the players are 60 of 286 staff.

Can they find a mug saviour to buy the club before time runs ou?
How do you trim the staff down or find other income streams to a point it breaks even?
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Points: 3135 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Steve@Mose Quote  Post ReplyReply Direct Link To This Post Posted: 01 Sep 2022 at 18:48
Players now attempting to quit troubled Premiership club over unpaid wages

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Several Worcester Warriors players have handed in their notice over 'breach of contract' issues, in the wake of their salaried wages still being unpaid.

On a day when Warriors director of rugby Steve Diamond attended the Premiership media launch in London, it was confirmed that Worcester will start the season as planned on 10 September.

But BBC Hereford & Worcester have been told that no wages have been paid.

This is despite assurances from owners Jason Whittingham and Colin Goldring.

They insisted that players would receive their August wages by midnight on Wednesday, while non-playing staff would be paid 65% of their salaries on Thursday.

The club has yet to comment publicly, but staff have been told that a bank is holding up money transfers.
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Points: 1230 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Runitback Quote  Post ReplyReply Direct Link To This Post Posted: 01 Sep 2022 at 21:28
A very sad situation for all concerned, players, staff and suppliers  . ..  and fans too!!! That said where are 60 odd players going to go? Premiership Clubs will have sorted their squads few will have spare budgets . .the same in France, who in the Championship can afford any of these players?  I expect some awful temporary fix to resolve the immediate crisis . . ie kick the can down the road!
Run with it
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cheshire exile View Drop Down
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Points: 2667 		Post Options Post Options   Thanks (0) Thanks(0)   Quote cheshire exile Quote  Post ReplyReply Direct Link To This Post Posted: 01 Sep 2022 at 22:09
Apparently the club has 280 employees, including 60 players. 220 coaching/commercial/admin staff; really ?
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Camquin View Drop Down
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Points: 12087 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 01 Sep 2022 at 22:35
As of June 2020, the last accounts:

126 of those are part time/ casual, bar staff, stewards etc.
65 are full time admin staff.
35 coaches - I assume this includes S&C and physios etc.
60 players, of whom 14 are in the academy.
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Points: 202 		Post Options Post Options   Thanks (0) Thanks(0)   Quote 373 Quote  Post ReplyReply Direct Link To This Post Posted: 02 Sep 2022 at 07:46
But Steve Diamond said they'd get paid.

I, for one, am shocked that this appears to have been a porky.

In other news, grass is green, water is wet, Pope is Catholic.
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Originally posted by 373 373 wrote:

But Steve Diamond said they'd get paid.

I, for one, am shocked that this appears to have been a porky.

In other news, grass is green, water is wet, Pope is Catholic.
Not following the story very closely, then?
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Camquin View Drop Down
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Points: 12087 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 02 Sep 2022 at 09:23
No grass is brown and water has yet to be seen - at least not falling from the sky.
I have also not been observing the toilet behaviour of the Bristol side. 
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Points: 3135 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Steve@Mose Quote  Post ReplyReply Direct Link To This Post Posted: 02 Sep 2022 at 09:25
Worcester Warriors players threaten strike with club unable to buy kit or food

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A core of Worcester Warriors players are unwilling to play against London Irish in the opening game of the new Gallagher Premiership season if Colin Goldring and Jason Whittingham are still co-owners of the club.

Worcester have amassed £25 million in debts and face a winding-up court hearing on October 6 at which HM Revenue & Customs (HMRC) is expected to demand full and immediate payment of a £6 million tax bill.

Goldring and Whittingham told the squad on Wednesday that they had secured emergency funding and would pay their August wages in full and on time — but last night the players were still waiting for their money.

It is understood that most players, if not the whole squad, submitted breach-of-contract letters to the club yesterday morning, which will allow them to leave within 28 days unless the pay situation is rectified.

Even if the money were to be deposited today, a number of players would still be unwilling to play for the owners. The club blamed a payroll issue for the delay, but trust has been eroded; the excuses have worn thin.

The lack of job security beyond next month and the risk of injury that comes with playing have contributed to some players considering their position. “No one has been paid and, even if they are, a number of players aren’t prepared to play for them [the owners],” a source said.

With their accounts frozen the club have been unable to: cover operating costs before the opening game on September 10; pay for a bus to take the squad to London Irish; buy medical tape or strapping; or provide players’ food at the training ground on Monday. Given that all non-rugby staff were told to stop working more than a fortnight ago, there may be no one available to cook it either.

Ted Hill, the captain, was at the launch event for the Premiership season yesterday wearing last season’s kit. Worcester, who cannot afford to personalise jerseys, have asked Premiership Rugby Limited (PRL) for special dispensation to play without names on the back of their shirts so they can reuse them.

The club need to access new funds to cover all these costs, and more, in advance of the new season. The owners, who owe money to suppliers, to player agents, to a rival club, to HMRC and to the government, have assured PRL and the RFU that they will have that money in place.

It was on that basis that PRL confirmed the Premiership would at least begin as a 13-team competition. “It definitely is a crisis for Worcester,” Simon Massie-Taylor, the PRL chief executive, said. “Worcester are able to take the pitch and start the season but they are not out of the woods yet.

“The next month or so is key for them in finding a long-term solution. There’s still a lot of work that needs to be done by them in the next few weeks.”

There are two parties interested in buying Worcester. Jim O’Toole, the club’s former chief executive, is leading one consortium but will buy only if Worcester are placed into administration. Goldring and Whittingham are determined not to go down that road and want to sell only to a buyer prepared to “clear all creditors”.

Steve Diamond, the director of rugby, said it would be a “tragedy” if Worcester folded but he was bullish about their prospects of making it to London Irish a week on Saturday and of completing the season. After the opening game, Worcester return to Sixways Stadium for two home fixtures.

“I’m 100 per cent confident that we will do that [complete the season],” he said. “If we do manage to get through this, then money does start coming in through the turnstiles.”

The fear is that Worcester may not be the only club to find themselves in dire financial straits this year, given they almost all run at a loss and will now have to brace themselves for their energy bills increasing by 400 to 500 per cent. “There are other clubs in a precarious position,” Diamond said.

Wasps had to navigate some choppy financial waters during the summer, leading to a proposal, swiftly rejected, that they and Worcester should merge.

“We will move towards a more sustainable model,” Massie-Taylor said. The question is: what does that model look like? There are voices around boardroom tables contemplating the merits of a ten-team Premiership.

Massie-Taylor admitted the RFU’s process of vetting owners and directors would need to be more robust to ensure a long-term funding model is in place.
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Camquin View Drop Down
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Points: 12087 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 02 Sep 2022 at 10:28
Start with 13, finish with ...
The deadline for Wasps to sort out the bond has passed, with a whooshing sound as it went by.
The bondholders are slowly organizing.

For both clubs, the biggest asset is £13million worth of P-shares - with the associated distribution of TV money, followed by their stadiums.

Any administrator/liquidator will be required to get best value.
The stadiums are probably only worth money as building sites.
But the shares are valuable - and I could see a bidding war - though not from rugby clubs from investment funds.
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