Ferguson to the Giants www.giantsrl.com/news/article/gi ... on-capture

Ferguson to the Giants www.giantsrl.com/news/article/gi ... on-capture

Apparantly Radio Humberside have announced that Hull FC are going to announce the signing of an up and coming British player today. Wouldn't be suprised if it's Murphy.

Gotta feel so sorry for the Wakefield fans in all this.

theres gonna be little point in them carrying on this season at this rate

If there is one coach who can turn this negative into a positive it's John Kear. Wakefield previously had some great talent in the academy ranks who hadn't make it through to senior level. I know some left but if they blood these youngsters and allow them to have a no fear attitude there may be some shocks. After all Wakefield are the team to shock the big boys.

Yes but losing less than average nuffys like Millard Jeffries and Obst won't mean they are weaker, blessing in disguise.

Horrible what is going, best of luck to them.

It's a sad state of affairs. What happened with the buy-out? Was it really wealthy people or not? I also would think a few clubs have their eye on Josh Vievers.

Millard Gone To Catalans according to a text from Ron Hill ive just recieved

There was always a danger that the system would create a lame duck and that seems to be what has happened. If I was spirit of 1873 I'd be deeply disappointed that my options and opportunities had been so limited by the adminsitrators. Why cough up for a club that is being effectively liquidated and driven ever faster towards the championships? I'd be tempted to start over from scratch now.

Chances have gone from slim to vanishing.

I agree it's a terrible for the Wakefield fans. No supporter deserves this.

The administrators have no duty towards the failed business, the supporters or the potential buyers. Their duty is towards raising funds to pay the creditors. In this case, the business has a number of saleable assets (namely the players) that can be sold. In any other business it would be things like freehold property or plant and machinery for example.

If you buy a business coming out of administration you can't realistically expect it to emerge with the same assets it went into administration with.

Oh, absolutely. But there are different ways of securing value for the creditors. If I was So1873, I'd now be cutting what I was willing to pay the creditors by roughly the transfer fees received for Obst, Ferguson et al. Or saying f' it, go ahead and liquidise, there is nothing left worth saving. This may or may not be better for the creditors.

But isn't it shortsighted and irresponsible of the administrators to sell (presumably at knockdown prices) the most necessary assets that can allow the business to run as a going concern in the future?

It's like a t-shirt business going into administration, and the administrators selling off the printing machinery to rival manufacturers and paying some money to the creditors (minus substantial administration costs, of course). After which the business can't make any t-shirts.

The only legitimate reason for doing it is if the thinking is that the business, even with its most necessary assets intact, will *never* be profitable, so in effect it's not an administration it's a winding up.