Things got a bit clearer/more muddied depending which way you look at it this morning. Gareth Dean it turns out has a 19% holding of the total shares and is willing to sell these and give anything he makes on top of his original outlay (approx 30k) back to the club. He says he will accept 40p per share which is what he paid for them but unless I am missing something there is no way that anyone in their right mind is going to pay 40p per share for something that was almost worthless just a couple of days back. In reality even as low as 5p a share seems a bit of a reach.

Is this a bad take or am I completley losing my mind as to what is going on here?

No, looking at the time lines that happened much much earlier.

Where have you got that info from GFB?

On the Facebook forum. Can't get my head around it. He said himself that he would not give up his shares previously because the financial situation was not as bad as the board made out but now when we were within hours of going out of business he feels the shares are still worth what he paid for them.

Just seem this thread and read it through. You all are more in the know than Bongser, but let it be said that no GENUINE RL fan wants to see an historic club go to the wall (whup their asses on the field yes, but not the former). All the best for a/the future.

Not sure I can get my head around all this, might have to join Hudds/Shay and sink a few. Firstly, Fax have been in dire financial trouble, the current BoD turned a bind eye( if ever both were open and focused) over several months, then face a winding up order from HMRC, put out a plea for financial help, gather a few grand together, hey presto enough to have a stay of execution, monies offered then withdrawn. Secondly Shareholder(s)wanting to cash in their share and expecting at least as much as they paid for them, are we in Wayne’s World? No real explanation I have seen from BoD as to just what is happening, if they need help transparency has to be paramount. Thank you to those on here who have given an insight as to goings on trying to explain to the rest of us what is fact or fiction. Finally previous BoD members names are banded around giving their view, (unless I have misread/ misunderstood which is quite probable) and do Directors have to ‘pass’ Due Diligence or can any one say I have a few quid to throw into the pot and are welcomed with open arms?

I think (and this is a personal opinion) the troubles are far from over, I understand that while the HMRC bill has been settled, wages are still not fully paid. And we're now almost half way through another month so another payday looms in a few weeks. The HMRC bill may have been a quarterly VAT bill or similar.

The figure of £130-150k to get to the end of the season was mentioned. Still a lot of money to be found. Especially when we have 1 home game left and limited income. Season ticket sales will likely be down because of how this season has gone, and the expectation that the playing budget will be cut further meaning a mediocre season next season as well.

As for due diligence on people, the RFL have a "fit and proper persons test". Although the only person I have ever seen named publicly as failing it was that Ryan Whitcut who was at Bradford when Omar Khan owned it and tried to move it onto him. Quite what the test involves I do not know, but it usually appears to be a formality when a club is taken over.

What gets me is last week from the club was need help, please send money, attend the game (which I did all) and I’m sure many of you did. Enough money raised to pay HMRC and the nothing from the club. They should be keeping us informed event by event now we have handed over more money to the BOD.

It’s only a maybe and said some of it before.

We keep mentioning the board but many of the original consortium have left, Lee Kenny joined later and he’s been the one front and centre of late and obviously heavily involved in sorting it all out.

Not sure what else he’s on with but must have a life and other commitments away from the club.

It’s only been a week so as frustrating as it is, maybe have to have a bit of patience.

Again not likely to find out what went on in the past and the future will all unravel one way or another.

So Lee Kenny has now left and the post talks about new leadership so apart from the coach coming in who's going to be this new person / people doing the leading ?

Companies House now only lists:

Steven Bonfield - Secretary
Mark Bannister - Director
Ian Uttley - Director

Strange reason for retiring, that the club's vision for the future doesn't align with Kenny's. I thought being the Chair of a small BOD, that Kenny IS the club (for the time being).

As I've said before, I've lost trust in the current BOD anyway so I'll welcome a complete change. I didn't like how the huge tax bill all of a sudden landed on the door step, and I certainly didn't like the claim that other clubs had been granted extensions whereas Fax hadn't which made no sense at all. Also that 6 figure sum which never happened ..... and so on and so on and so on ......

All probably bona fide but just my perception.

Certainly going to be an interesting off season, with Kenny resigning and finn leaving , now I've just read one of the directors suffered a collapsed lung at the weekend and has previously had a heart attack , can't imagine his family being too enthusiastic about him being heavily involved Certainly in the immediate future.

Why anyone would want to become involved in taking over any rugby league club is beyond me never mind one in the Championship with debt issues, ground issues etc etc but I suppose someone will be doing so at Fax.

Talking about the ground whatever happened to the rumour that the Shay was going to be taken over by some large local businesses and a new trust from a few weeks back, or was it just another pie in the sky idea doing the rounds?

The bit about Kenny leaving saying that his vision for the club doesn't align with the clubs. Who is it that he doesn't agree with, he was interim chairman there is hardly anyone left on the board it would be interesting to know.