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Gallagher Premiership 2022-2023 Season

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Comments

  • Registered Users, Registered Users 2 Posts: 8,644 ✭✭✭lawrencesummers


    Interesting to get more background on it, the move to coventry was never seen as a good idea, it might not have been hailed as a bad one but at the time nobody felt it was a great idea.

    Rugby clubs the world over are parochial, they are community based with underage structures a major part of that and thats a big part of their success with few exceptions. The stade francais merger debacle of a few years ago is the perfect example.



  • Posts: 0 [Deleted User]


    This is the bond indenture here - https://www.rns-pdf.londonstockexchange.com/rns/3422L_-2015-4-26.pdf

    It's all laid out on pg 51 - Derek Richardson gave a shareholder loan of c. £20m to the club (which likely financed the Coventry stadium acquisition), and was receiving £10m of that back as part of this transaction.

    The Restricted Payments provision of the indenture restricted his ability to get anymore of his £10m back except in very limited circumstances, and he specifically restructured his shareholder loan to rank subordinate to the bond.

    I think Jim Hamilton is putting two and two together here and getting £15m, and it looks wrong based on that. It's a pretty scandalous thing for him to say on a rugby podcast even though he admits he doesn't know. This bond indenture is publicly available, and the info is right there in black and white.


    FYI: This is what the £35m went on: (from pg 57 - Use of Proceeds).

    Use of Proceeds The proceeds from the issue of the Bonds will be used by Wasps Holdings and ACL for the following purposes:

    (a) to repay in full the facility provided to ACL by CCC;

    (b) to repay in full the Close Leasing Facility;

    (c) to part repay to Derek Richardson an amount of up to £10 million on or after the Issue Date pursuant to the Shareholder Loan. If £10 million is repaid, this will leave a remaining balance of £10,361,658 under the Shareholder Loan;

    (d) to fund the Interest Service Reserve Account, as detailed in the terms and conditions of the Bonds and under Section 3 (Information About the Bonds – How will the Bonds be secured?”); and

    (e) for general working capital purposes of ACL and Wasps Holdings. All existing security granted by the Group to CCC and Close Leasing Limited in relation to the facilities described above will be released on the date that the Bonds are issued.



  • Registered Users, Registered Users 2 Posts: 8,733 ✭✭✭Dubinusa


    Holy ****!



  • Registered Users, Registered Users 2 Posts: 8,733 ✭✭✭Dubinusa


    What a mess. Covid did not help either! A perfect storm. Wasps moving away from London struck me as strange. As a business decision, it looks now like a disaster. To salvage the club, could they have sold the stadium? Surely they'd have cleared their debts and stayed solvent?

    Wasps are a big name in English rugby. What a shame to see this happen.



  • Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Wasps probably would have gone bankrupt if they stayed in London.


    It was move or die.


    No they couldn't have sold the stadium. They didn't really own it. They had a very long term lease that restricted what they could do with the stadium.


    Any sale made by the administrator will probably be at discount rates for this reason.


    Like the P shares on all the clubs balance sheet an asset that can never be sold may as well have no value.



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  • Registered Users, Registered Users 2 Posts: 7,169 ✭✭✭Pete_Cavan


    I notice Leicester don't have a game this weekend, or next weekend, or the following weekend. They last played 16 Oct, next game 11 Nov, then 27 Nov. One game in 6 weeks (not including cup), that's a bit crap.



  • Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Its a pity they couldn't rearrange the cup game from midweek to this weekend. Newcastle who they played midweek in the cup don't have a fixture this weekend.


    They are also playing a friendly with Italy A in a few weeks to fill the gaps in and keep people match fit iirc.


    It's worth noting that Leicester had a mini cash flow crisis losing 2 home games in a row after Wasps and Worcester collapsed.



  • Posts: 0 [Deleted User]



    Kidney and Kiss's "Irish" go down to Gloucester 21- 22 in an interesting game. Three tries by Argentinian hookers and the winning score was a DG by Hastings from about 55 metres.



  • Registered Users, Registered Users 2 Posts: 6,224 ✭✭✭OldRio


    From what I could gather, a meeting of representatives from the remaining teams took place this week.

    They couldn't agree on a new fixture list. Everyone fighting their own quarter. Noone thinking of the bigger picture. (I'd hazard a guess at too many egos)



  • Registered Users, Registered Users 2 Posts: 7,169 ✭✭✭Pete_Cavan


    It's ridiculous, only 4 games each weekend, that means only 8 teams playing and 3 not. Obviously the odd number of teams mean one won't be playing each weekend but having two others sitting out is just stupid and must undermine sponsorship and tv deals.

    They should recast the fixture list from Christmas. Bristol were due to host Wasps on NYE, surely that is one of the most commercially attractive matchdays so they should play someone else instead. The inability to agree something further damages the leagues credibility.



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  • Registered Users, Registered Users 2 Posts: 6,224 ✭✭✭OldRio




  • Moderators, Arts Moderators Posts: 35,618 Mod ✭✭✭✭pickarooney


    They'd burn through the fixtures quicker playing 5 games a week, I suppose.



  • Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    I think if they realigned the fixture list one of the goals would be to give weekends to the cup.


    Maybe there would be some more value in the cup competition if the games were on weekends rather than mid week between fixtures.


    That said there is an argument that fitst teamers would be used in the cup and doing that sort of move would punish those with a deeper squad and a weaker first team.



  • Registered Users, Registered Users 2 Posts: 7,169 ✭✭✭Pete_Cavan


    They could have fewer games clashing with internationals, surely that would be good for all concerned.



  • Registered Users Posts: 11,790 ✭✭✭✭Burkie1203


    Owen Farrell having a mare


    Causing a penalty to be reversed followed by YC for a trip



  • Registered Users, Registered Users 2 Posts: 8,644 ✭✭✭lawrencesummers


    I dont think i would ever have an ounce of sympathy for sarries but it looked like they are being rode sideways by this ref



  • Posts: 0 [Deleted User]



    Based on that debatable penalty against McFarland? I assume you've no problem with Mako's yellow card and penalty try?


    In other news, Van Graaaaaaaaannnnnn may be about to get his first win since the 1840's. (Bath 14 - 0 up V Saints at HT)



  • Posts: 0 [Deleted User]



    Problem there is that it appears that the clubs with fewer international players want to play the teams that will be depleted during the international season!



  • Registered Users, Registered Users 2 Posts: 8,644 ✭✭✭lawrencesummers


    mako clearly wrong and farrell doing a terrible job talking with the ref



  • Registered Users Posts: 11,790 ✭✭✭✭Burkie1203


    Itoje leading with elbow there?



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  • Registered Users, Registered Users 2 Posts: 8,644 ✭✭✭lawrencesummers


    Normally doesnt get pinged unless the arm comes out from the body, itoje tucked the ball and kept his arms tight.



  • Posts: 0 [Deleted User]


    Inevitable finish - Exeter aren't going to win much unless they can stop giving away scrum penalties.

    Tom Foley seems to have improved as a referee this season now that he's getting the bigger games. (I wonder has Karl Dickson been relegated to the lower leagues, if so, I'm not surprised. He was rubbish in the Saints - Leicester game.)

    And van Graaaaaaan has done it! Bath 27 - 14 Saints.



  • Registered Users Posts: 11,790 ✭✭✭✭Burkie1203


    Jackman in indo reckons one more premiership club are about to to bust



  • Posts: 0 [Deleted User]


    Unbeaten Sale were stuffed by Quins this afternoon! FT 13 - 29.

    The quins pack plus Care and Smith played the Sharks off the park. It's hard to describe how poor Sale were, so suffice to say that Manu was about as useful as a spare wheel on a tank.



  • Registered Users, Registered Users 2 Posts: 1,197 ✭✭✭PMC83


    if so that could be it for the prem in its current form.



  • Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    I wouldn't be surprised. Especially as so many people have been arguing for a 11 team premiership. No one has been arguing for relegation.


    The number of teams in the premiership can't be cut unless all p share holders agree. If a club goes into administration they can be forced to sell their p shares to the league.


    It never struck me as likely that someone would vote to relegate themselves.



  • Registered Users Posts: 11,790 ✭✭✭✭Burkie1203




  • Subscribers Posts: 42,004 ✭✭✭✭sydthebeat


    trimming to make way for a couple or few of ex wasps / worcesters surely



  • Registered Users, Registered Users 2 Posts: 8,733 ✭✭✭Dubinusa


    Wow! Who would come in? The premiership needs a rethink! There needs to be some kind of way to promote it and attract more supporters.

    Good for Biggar. Fine player and a competitor.



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  • Registered Users, Registered Users 2 Posts: 4,242 ✭✭✭Lost Ormond


    What would you suggest as a rethink and change to attract more supporters?



  • Registered Users, Registered Users 2 Posts: 8,733 ✭✭✭Dubinusa


    Obviously the answer is not with me. But in its current state the premiership appears to be a financial cripple. Rugby is not a very popular sport, compared to others. I believe there's the biggest number of registered players worldwide in England and yet they struggle to keep their heads above water.

    Maybe a system like ours would work. Perhaps a semi union run league with the union owning part of each team. Filling stadiums is a must! There's got to be ways to keep fans coming and to attract more.

    Maybe auction off England tickets for each match? Meet and greet with the players and fanzines? In it's current condition, the premiership is a mess. Maybe better business and advertising people should be involved?

    I think rugby needs an enema and a reboot. Oz can't fill their stadiums for international matches! The business end needs help.



  • Registered Users, Registered Users 2 Posts: 4,242 ✭✭✭Lost Ormond


    Well you put out these big statements so surely you must back them up sometimes...

    Rugby isnt a popular sport compared to what?

    I dont think England want to run a system like ours. England is a big enough country to run 12 or so top level teams and has the population base to cover that number of teams in a top division but do they want to fund all those sides and have to substantially reduce their money going towards amateur rugby to pay for pro rugby then?

    You have to get across a very good product to get stadiums full.. I dont think what works in Ireland will work in England. Theyre not comparable

    Australia is for another thread but sport is too much for people from a certain background and hasnt done enough to get beyond those people to get money in...



  • Registered Users, Registered Users 2 Posts: 8,733 ✭✭✭Dubinusa


    Compared to football. Compared to basketball, Compared to the nfl, baseball etc...

    I said I don't know what the answer is. But, it's in current condition, the premiership is a joke. They've got to do something to make it more attractive. The premiership has been around for a while and yet it's finances are precarious.

    Biggar off to Toulon, the Saints can't afford him. Simmonds leaving for a better league. They need people that can market the clubs and good business people.



  • Registered Users, Registered Users 2 Posts: 8,644 ✭✭✭lawrencesummers


    Im always amazed at the kick off times for games in the GP And how they clash and never seem to attempt anything different like a late saturday game.



  • Registered Users, Registered Users 2 Posts: 8,644 ✭✭✭lawrencesummers


    There is a complete disconnect between premiership rugby fans and english rugby fans.

    The typical fan at games in twickenham doesnt go to premiership games and the typical fan at premiership games doesn't go to twickenham.



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  • Posts: 0 [Deleted User]



    Worst piece of refereeing I've seen for a long time by Craig Maxwell-Cheats this afternoon. Did everything in his power to ensure that Harlequins could beat London Irish. It took him until the 85 minutes to achieve his aim, but he managed it in the end. Quins 26 - 24 L Irish. I feel sick.



  • Registered Users, Registered Users 2 Posts: 2,250 ✭✭✭Boscoirl


    He blew quins off the pitch in the first half



  • Posts: 0 [Deleted User]



    Probably more accurate to say that Quins blew themselves off the pitch in the first half. They were woeful. But he still let them away with a couple of blatant forward passes. He turned up expecting quins to win, and, when it became obvious that they couldn't do it by themselves, he helped them.



  • Registered Users, Registered Users 2 Posts: 6,054 ✭✭✭Yeah_Right


    What a load of crap. If you honestly believe a professional ref goes into a game with a plan to make sure one team wins then you're a moron.



  • Registered Users, Registered Users 2 Posts: 4,242 ✭✭✭Lost Ormond


    Nonsense. Premiership isnt a joke. How do you make it more attractive then. Many sports have risky finances having been around a while.



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  • Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    I'd be in favor of a French style financial commissioner that gets to review the budgetes of all clubs.


    The one thing I would say is that too many teams are in small towns or cities. Without a franchise system that can't be changed but I think a lot of teams should attempt to expand their catchment areas. Running supporters buses to nearby towns and cities.


    The big city teams should imo all put on an "event" or two a season. That is to say move a big clash to a bigger stadium, offer tickets cheaply and try and bring new fans to rugby. €10 ticket with an international ticket, Season ticket holders bring a friend for €10, junior tickets for cheap. 40-50K showing up for a big event could be good for developing additional casual support. Harlequins have a game in Twickenham every year. Let the others try.


    The Premiership cup varies in importance from season to season. At the moment its at a low point and attended by a few hundred a game. This is because the games are scheduled mid week. The teams are completely second tier. Now its hard to find a spot in the season for the premiership cup when there's a 13 or 14 team league. If there's a ten or eleven team league you can focus the Premiership weekends away from the international windows. Play the Premiership cup during international windows with a mix of squad players and development players and draw a few thousand for each game.


    Every team needs to look at what they can do. The league is struggling but so is every professional rugby league really. Every team needs to consider their options.



  • Registered Users, Registered Users 2 Posts: 8,733 ✭✭✭Dubinusa


    If you say so, your opinion. It's a shitfest! Wasps, Warriors going under. Biggar shown the door, yawn!! It's beyond belief.

    It's got 11 teams now. How many are in the black? The French seem to run their leagues better.

    How to fix it? I don't know. It needs an enema.



  • Registered Users, Registered Users 2 Posts: 4,067 ✭✭✭Digifriendly


    Just out of interest what is your evidence for these statements particluarly for the second one?



  • Registered Users, Registered Users 2 Posts: 6,224 ✭✭✭OldRio


    I see the EPL have games this weekend. An International weekend. Utter madness.



  • Posts: 0 [Deleted User]



    The moron in this particular situation was Craig Maxwell-Cheats.



  • Registered Users, Registered Users 2 Posts: 8,644 ✭✭✭lawrencesummers


    of course this isnt a hard and fast rule, there are people who attend both, but rugby isnt supported in england the same way it is here, twickenham is a corporate fest, a day out for toffs, ive been to plently of games there and its more gucci handbags and pimms than tetleys and pies that you get at welford road or any of the other traditional grounds around the league, ive talked to friends who live in the UK, would go to twickenham but wouldnt have their own local club.

    The average attendance at a league game in the GP is less than 9k, twickenham sells out at 80odd k for internationals.



  • Registered Users, Registered Users 2 Posts: 771 ✭✭✭Ben Bailey


    Average attendance in 2018 was 14.5k. Some drop to 9k !



  • Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Attendance in 2021/2022 was 12,564. That counts league semis but not league finals (neutral venue in twickenham).



  • Registered Users, Registered Users 2 Posts: 7,169 ✭✭✭Pete_Cavan


    Mad to think that they actively undermined the European Cup because they thought they could make more money from their domestic league. Lucky for them they got Gallagher to extend the sponsorship deal last year, I'm sure the value would be down were it being negotiated this year.



  • Registered Users, Registered Users 2 Posts: 6,533 ✭✭✭Former Former Former




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