I know I'm a broken record but you're saying all the things we did and it's heartbreaking to see others having to deal with the same nonsense. It's the aftermath when you finally get to see what debts were accruing and the irresponsible behaviour leading up to the demise. It's depressing. I particularly agree about trying to mitigate the impacts on your youth structure. You, like Bradford have got (or had) invaluable structures in place that are the key to a sustainable club for years to come.

Well it looks like we're keeping the majority of this squad, we'll survive, that's not a problem but we wont get anywhere near the play offs which is a shame. Dropping into a league with the likes of Bradford, Leigh, Halifax and Featherstone, it should have been a very exciting year.

You will have operating costs of £120k plus per month, if ST and sponsorship money has gone that is a big figure to service with no funding - good luck, and remember what don't kill ya makes ya

Thanks for th support of th rugby league community these last two weeks. Great win today infront of 5700 fans, looked a lot more. Onwards and upwards and hopefully put this horrible chapter behind us.

Fev have been unlucky to come up against 2 teams this season who have been at death's door and had something to prove. Mind you, Fev haven't been in wonderful shape either!

And why would they be ? They're essentially a rhinos reserve set up. And the rhinos first team are bad enough!

For the ignorant amongst us, how can you have gone into admin yet continue with pretty much the same FT squad, apart from what appears to be the injured ones that you have cut loose - is it just a way to avoid paying your debts, can’t say I really understand this kind of thing

I believe that the debts still exist.

Receivership is when creditors get paid £% in the £, administration is a "holding pattern" until a new owner takes over the entity and its debts.

This is what caught out the various owners of Bradford....they were essentially taking on debts that they couldn't service. If this new ownership have anything other than a concrete plan to raise funds, it will fail.

They cannot rely on gate takings, sponsorship coming on board and other back of a beer-mat strategies......as others have said, they have outgoings of £150,000 a month (minimum) and 5,700 a game is a great step forward......but remember Bradford had gates like that and bucket collections and summer concerts.......and no disrespect to widnes, but Bradford are a much bigger side in terms of reach.

I really hope they can come through this.......and great job beating Leeds second string

We’re in the championship and have lost Inu, Tangata and Albert who collectively must be on around £150-£200k a year. The administrators, new consortium and creditors have clearly come up with agreement, hence why Widnes can still participate in the championship.
Administration doesn’t necessarily mean all your players leave and are sold.

Before admin, the monthly wage bill was reportedly £120k! Even if those 3 were on a combined £200k pa that only drops it to a touch over £100k a month, unless the remaining players have taken a significant cut. Not sure you'll actually find that sustainable.

Administration is a formal procedure in which an insolvency practitioner is appointed as the administrator by the company directors, the company itself, its creditors of the company's debts or the Court. Once an administration order is granted, all legal actions against the insolvent company (including receivership and winding up petitions) are stayed for a period of about 8 weeks, during which time the administrator can draft a plan of action and propose it to creditors during a creditors meeting. The administrator assumes control over all assets and business operations with the goal of acting in the best interest of the company’s creditors, in order to repay as much as possible.

In short...the debts remain unless negotiated otherwise

Receivership is a process in which a creditor appoints a receiver over one or more of the insolvent companys' assets or properties specified in a legal charge within a secured loan agreement. If the charge contains a provision that allows for express appointment then receivership can happen quickly and sometimes without sufficient warning. Although the exact privileges and rights of the receiver arise from the terms of the individual loan agreement, all receivers must abide by legislation.

In short, the debts are paid if possible and often as a % of the real amount

We went into administration because of insolvency issues and the club had less than £1000 in the bank. Since then, it has been taken over by a consortium who are putting money in and are believed to be able to cover that current wage bill. We still receive £40,000 a month from the sky deal, £15,000 a month from VIQI which is an independent supporters group and there’s a chance of receiving the remaining parachute payment. I’m sure the consortium, along with on the day ticket sales can finance our team.

If all the debts are still there and the intention is to repay in full, then how come the 12 point deduction was not reduced like it was for Salford?

I think our debts were around £800k, I’d be extremely surprised if they were all still there. The administrators have probably struck a deal with the creditors and consortium, ie - 20p against the pound to be paid for all debts owed (that’s just an example)