From London Wasps a wee trip up the road to Coventry
Club Statement
Wasps are delighted that Coventry City Council have unanimously approved the sale of their shares in ACL to Wasps. Final details of the agreement will be confirmed tomorrow morning.
It is no secret that the Club has been searching for a permanent home for many years. We are very excited to be in a position to fulfil this ambition and to be able to move to the Ricoh Arena; it is an outstanding Arena in a truly fantastic City.
We understand this is an unsettling period for our supporters and we will be holding a series of meetings for our Season Ticket Holders, starting this week, where we can speak face-to-face to explain our decision and to address their concerns. We are also writing to each of our Season Ticket Holders.
This decision has not been taken lightly, it has been a very thorough and detailed process and we truly believe this is the best option to secure a successful long-term future for the Club.
It’s important to us to make clear that we see the Ricoh as the home of Coventry City Football Club and are committed to it staying that way, and that we are already working with Coventry Rugby Club to ensure both clubs thrive and grow.
Our priority now is to work with our players, staff and fans on what this will mean for them. Once we have communicated to our supporters and staff we will be very happy to answer any questions the media may have at a press conference tomorrow. We will also issue a full media statement at 10am tomorrow morning.
“That made me feel very special and underlined to me that Ulster is more than a team, it is a community and a rugby family" Rory Best
Maybe they have hired Anscombe for his undoubted ability to communicate effectively and explain this move to their fanbase...................... no? OK
NEVER MOVE ON. Years on, I cannot ever watch Ireland with anything but indifference, I continue to wish for the imminent death of Donal Spring, the FIRFUC's executioner of Wee Paddy & Wee Stu, and I hate the FIRFUCs with undiminished passion.
BaggyTrousers wrote:Maybe they have hired Anscombe for his undoubted ability to communicate effectively and explain this move to their fanbase...................... no? OK
BaggyTrousers wrote:Maybe they have hired Anscombe for his undoubted ability to communicate effectively and explain this move to their fanbase...................... no? OK
They have a fanbase?
Yes - but many of them stopped going to games when they moved to Wycombe.
BaggyTrousers wrote:Maybe they have hired Anscombe for his undoubted ability to communicate effectively and explain this move to their fanbase...................... no? OK
They have a fanbase?
Yes - but many of them stopped going to games when they moved to Wycombe.
And those that are left will stop now.
Seems to be a feeling that the money men see a good chance of making cash from a property deal out of this move and will sell out in a few years
“That made me feel very special and underlined to me that Ulster is more than a team, it is a community and a rugby family" Rory Best
Wasps appear to have come to the conclusion that you need to have your own ground for long term success so it was pointless looking for another ground share. Building a new ground in the SE of England isn't easy so they have gone and bought somewhere else.
Wasps have been very cynical regarding their existing fan base. They don't have a lot of fans anyway and not many will make the journey to Coventry so they are basically ditching them and will look to build a new fan base from scratch. It's just like a NFL franchise wanting to make more money so upping sticks from one city and moving to another.
And if they can't build a fan base and the team flops, the owners will still have some valuable property.
Wasps owner (Derek Richardson) is Irish so there is some irony in an English team being fecked over by an Irishman but that it what you get if you sell out to money men.
mikerob wrote:Wasps appear to have come to the conclusion that you need to have your own ground for long term success so it was pointless looking for another ground share. Building a new ground in the SE of England isn't easy so they have gone and bought somewhere else.
Wasps have been very cynical regarding their existing fan base. They don't have a lot of fans anyway and not many will make the journey to Coventry so they are basically ditching them and will look to build a new fan base from scratch. It's just like a NFL franchise wanting to make more money so upping sticks from one city and moving to another.
And if they can't build a fan base and the team flops, the owners will still have some valuable property.
Wasps owner (Derek Richardson) is Irish so there is some irony in an English team being fecked over by an Irishman but that it what you get if you sell out to money men.
They already have debts of £14M
“For the liespotter who knows how to listen well, the random words, sounds, and phrases in a person's speech are never as random as they seem. They offer a clear sightline into the liar's psyche.”
My only hope is that the associated businesses are being purchased with the intention of funding Wasps into the future, rathe rthan Wasps being used as a mechanism for purchasing the associated business for the benefit of the investors.
Feel for any real fans they have left. In their shoes I'd feel deeply hafted. The only good thing you could say from our perspective is that if we ever draw them in any European competition in the future that Coventry is easier to get to than High Wycombe.
mikerob wrote:Wasps appear to have come to the conclusion that you need to have your own ground for long term success so it was pointless looking for another ground share. Building a new ground in the SE of England isn't easy so they have gone and bought somewhere else.
Wasps have been very cynical regarding their existing fan base. They don't have a lot of fans anyway and not many will make the journey to Coventry so they are basically ditching them and will look to build a new fan base from scratch. It's just like a NFL franchise wanting to make more money so upping sticks from one city and moving to another.
And if they can't build a fan base and the team flops, the owners will still have some valuable property.
Wasps owner (Derek Richardson) is Irish so there is some irony in an English team being fecked over by an Irishman but that it what you get if you sell out to money men.
They already have debts of £14M
The new stadium will give them immediate income from Coventry City FC rental payments and other events at the stadium. Apparently with the stadium income, Wasps will have the highest turnover of any AP team. So Wasps will turn over more than Leicester who have about 4 times the support.
I don't know the finances but I'm guessing the stadium income will service their debts.
I hope that is the idea. The Casino pays for the rugby. The turnstyles are no longer considered as a significant revenue stream for many teams in this age.
BR wrote:My only hope is that the associated businesses are being purchased with the intention of funding Wasps into the future, rathe rthan Wasps being used as a mechanism for purchasing the associated business for the benefit of the investors.
After reading a good bit about it the investors using Wasps to make cash in a few years seems to be the aim
“That made me feel very special and underlined to me that Ulster is more than a team, it is a community and a rugby family" Rory Best
Ricoh's naming rights for the stadium are up in 2015 so that will be another ker-ching when they flog the stadium name to somebody for another 10 years.
