European Club Rugby
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@rapido heart bleeds...
All the clubs are losing millions and it is a false number in the Premiership.
A lot of rugby clubs are losing money, we are losing a bit still, so we need to get that right and run it like a business.
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Been rumours about Wasps finances after the owner injected 1.1m back into the club and falsified* it as profits so that they wouldn't breech the terms of a bond issue taken out when they bought Ricoh Arena and moved to Coventry.
A google search looks quite gloomy,
Dec 21, 2017: Wasps overstates profits amid accounting 'irregularities' - The Telegraph
Dec 21, 2017: Wasps breach rules of £35million bonds schemeDec 22, 2017: Price of Wasps bonds falls after it breaches financial rules of ...
Jan 13, 2018: Wasps seeks bondholders agreement after covenants are breached
Jan 19, 2018: Wasps bondholders agree to waive breaches in financial rules ...
23/03/2018: Wasps Group says accounts will be filed by end of March
13/04/2018: Wasps Group accounts now more than three months late
2/05/2018: PwC offside as Wasps auditor after £1.1m profit overstatement
3/05/2018: Irish owner reveals PwC given 'falsified evidence' in Wasps audit
but .... looks OK?
20 hours ago: Wasps owner slashes losses
The group that owns Premiership rugby club Wasps, who play their home games at Coventry's Ricoh Arena, has slashed its pre-tax losses, according to new figures.
Newly filed accounts with Companies House for Wasps Holdings have revealed that the group made a pre-tax loss of £3.7m in the year to 30 June 2017, down from £9.3m in 2016.
The documents have also confirmed that PwC, during its auditing enquiries, was presented with evidence which was revealed to have been falsified.
Following the presentation of PwC's findings, the board conducted a review of its financial processes, systems and controls across the group.
The directors have said this was an "isolated instance" and "consider that the measures put in place provide additional controls to prevent such an occurrence."
The group, which also owns the Ricoh Arena and a netball team, announced its turnover for the year, a rise from £30.9m to £33.6m, in December 2017.
Regarding the cut in losses, a statement signed off by the board said: "This is a result of returns form our improvements in ticketing, hotel, entertainment and business revenues, together with the non-reoccurrence of exceptional items and bond issue costs.
"The Wasps rugby team performed exceptionally well throughout the year, reaching the Premiership final for the first time since 2008.
"In addition, the newly launched Wasps Netball won the Vitality netball Super League, a wonderful result for the team in its very first year.
"The group continues to seek to maximise its use of the Ricoh. The continued engagement with new fans, businesses, clubs and schools resulted in another year of record attendances for Wasps and business activities at the arena.
"The investment in the DoubleTree by Hilton hotel during 2015/16 provided further significant returns with hotel income up by 29 per cent for the year.
"This year saw us staging a number of events including international rugby league, Robbie Williams in concert, Wasps Netball in the Ericsson Arena and we look forward to hosting more sport and entertainment in the future years."
Bond price:
- allegedly and apparantly ......
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Leinster out-French the French in the Champions Cup final in Bilbao.
Leinster 15-12 Racing92
Yee haa!
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Poxy final decided in multiples of 3. Teddy Thomas with a schoolboy error allowing himself to be bundled into touch after Racing steal the line out. From resulting play Leinster get the winning penalty.
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@billy-tell said in NH club rugby:
Poxy final decided in multiples of 3. Teddy Thomas with a schoolboy error allowing himself to be bundled into touch after Racing steal the line out. From resulting play Leinster get the winning penalty.
Yep.
Last night's match was far better viewing
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@bovidae said in NH club rugby:
I recorded the game but as DC didn't play and I already know the scoring I won't bother.
I only half watched it after realising it wasn't going to be DCs 'serious rugby' swansong. Probably not far of in speculation that DCs absence was the losing of the game. Firstly I very much doubt he would have made the stupid offside error his replacement did that gifted Leinster the win. Secondly, I'd back him to make the drop goal at the end to equalise.
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Game was rubbish. It wasn't anywhere near as intense as journalists will try and make you believe. It was a classic example of two teams playing well within themselves to try and avoid making a mistake.
The semi finals were both much much better. Taking the show piece to non rugby country for game growth is a good idea, but then having both teams play a sport which was about as entertaining as watching paint dry worked against it.
The whole mic'ing up of referees needs a rethink too when Barnes is in charge. He doesn't shut up, ever. At one point he shouted at the teams "fair contest from both 7's, fair contest from both 7's". Why does that need to be done?? If it's a fair contest just bloody say nothing.
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@bovidae said in NH club rugby:
@crucial Lambie went off injured early too.
Yep, so I suppose it could be argued that DC would have been replaced by that other numpty by the pointy end of the game anyway.
Flip side is that DC may have (like he did in other games) created the opportunities for points earlier.
I was pissed off that he wasn't playing after all the stupid press about whether he was better than Sexton.
Sexton was very average. -
@majorrage said in NH club rugby:
The whole mic'ing up of referees needs a rethink too when Barnes is in charge. He doesn't shut up, ever. At one point he shouted at the teams "fair contest from both 7's, fair contest from both 7's". Why does that need to be done?? If it's a fair contest just bloody say nothing.
That won't wash if you have aspirations to take Steve Walsh's title of Celebrity Ref.
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@majorrage said in NH club rugby:
Game was rubbish. It wasn't anywhere near as intense as journalists will try and make you believe. It was a classic example of two teams playing well within themselves to try and avoid making a mistake.
The semi finals were both much much better. Taking the show piece to non rugby country for game growth is a good idea, but then having both teams play a sport which was about as entertaining as watching paint dry worked against it.
The whole mic'ing up of referees needs a rethink too when Barnes is in charge. He doesn't shut up, ever. At one point he shouted at the teams "fair contest from both 7's, fair contest from both 7's". Why does that need to be done?? If it's a fair contest just bloody say nothing.
Thank you majorrage. Well done majorrage. Or if you play for racing merci majorrage. Bien joué majorrage.
Thought Barnes was decent. But as always on first names terms with the players...
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@catogrande said in NH club rugby:
That won't wash if you have aspirations to take Steve Walsh's title of Celebrity Ref.
Think Owens has already taken that hasn't he?
@billy-tell said in NH club rugby:
Thought Barnes was decent. But as always on first names terms with the players...
No problems with his decision making. Just the constant sound of his bloody voice. Maybe he was trying to add interest to what was a bloody dull game.
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@billy-tell said in NH club rugby:
@majorrage said in NH club rugby:
Game was rubbish. It wasn't anywhere near as intense as journalists will try and make you believe. It was a classic example of two teams playing well within themselves to try and avoid making a mistake.
The semi finals were both much much better. Taking the show piece to non rugby country for game growth is a good idea, but then having both teams play a sport which was about as entertaining as watching paint dry worked against it.
The whole mic'ing up of referees needs a rethink too when Barnes is in charge. He doesn't shut up, ever. At one point he shouted at the teams "fair contest from both 7's, fair contest from both 7's". Why does that need to be done?? If it's a fair contest just bloody say nothing.
Thank you majorrage. Well done majorrage. Or if you play for racing merci majorrage. Bien joué majorrage.
Thought Barnes was decent. But as always on first names terms with the players...
One day I'd love to hear....'If I call you Sir, you could at least call me Mr Franks, not Owen'
Or after a call of 'leave it Sam' a reply of 'sure Wayne'. -
@majorrage said in NH club rugby:
Would the likes of Davies, Hernandez, Rutherford (no idea who this guy is) been as highly lauded if playing for the Crusaders and All Blacks?
A reasonable 10 for Scotland in the early 80s. Good enough to be backup to Ollie Campbell on the 83 Lions tour.
Edit: I see I'm late to this argument ...
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@crucial said in NH club rugby:
@billy-tell said in NH club rugby:
@majorrage said in NH club rugby:
Game was rubbish. It wasn't anywhere near as intense as journalists will try and make you believe. It was a classic example of two teams playing well within themselves to try and avoid making a mistake.
The semi finals were both much much better. Taking the show piece to non rugby country for game growth is a good idea, but then having both teams play a sport which was about as entertaining as watching paint dry worked against it.
The whole mic'ing up of referees needs a rethink too when Barnes is in charge. He doesn't shut up, ever. At one point he shouted at the teams "fair contest from both 7's, fair contest from both 7's". Why does that need to be done?? If it's a fair contest just bloody say nothing.
Thank you majorrage. Well done majorrage. Or if you play for racing merci majorrage. Bien joué majorrage.
Thought Barnes was decent. But as always on first names terms with the players...
One day I'd love to hear....'If I call you Sir, you could at least call me Mr Franks, not Owen'
Or after a call of 'leave it Sam' a reply of 'sure Wayne'.That's 'Black 3'. Only the captain gets addressed by name.
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@booboo said in NH club rugby:
@crucial said in NH club rugby:
@billy-tell said in NH club rugby:
@majorrage said in NH club rugby:
Game was rubbish. It wasn't anywhere near as intense as journalists will try and make you believe. It was a classic example of two teams playing well within themselves to try and avoid making a mistake.
The semi finals were both much much better. Taking the show piece to non rugby country for game growth is a good idea, but then having both teams play a sport which was about as entertaining as watching paint dry worked against it.
The whole mic'ing up of referees needs a rethink too when Barnes is in charge. He doesn't shut up, ever. At one point he shouted at the teams "fair contest from both 7's, fair contest from both 7's". Why does that need to be done?? If it's a fair contest just bloody say nothing.
Thank you majorrage. Well done majorrage. Or if you play for racing merci majorrage. Bien joué majorrage.
Thought Barnes was decent. But as always on first names terms with the players...
One day I'd love to hear....'If I call you Sir, you could at least call me Mr Franks, not Owen'
Or after a call of 'leave it Sam' a reply of 'sure Wayne'.That's 'Black 3'. Only the captain gets addressed by name.
Not according to Wayne.
