Quote: Nothus "Why is it guaranteed that players would leave during a period of administration?
Since their contracts become void they are essentially worthless, so selling them off to clear debts simply won't happen.
Is it just a case of the administrator attempting to reduce overheads of the business ie the wage bill?'"
Yes. Or of other clubs miraculously finding cap space and coming in for the best players.
Quote: Nothus "Also, if we were to go into administration and form a new company or whatever, what would happen to the funds raised so far? Would we just pay off as much of the debt as possible and then fold?'"
Yup.
But, to avoid personal liabilities and heaven knows what else, the board must be confident that if the funds ARE raised then the club will NOT go into administration, so the funds WILL get used in the future business. Albeit to replace the loans to the RFL and the bank, which is basically what the club is seeking to achieve by all this.