Just because they have a billionaire owner doesn't mean that he will necessarily cover their debt, this would depend on the legal entity of the "Toronto Wolfpack" business and how that actually works.
Plenty of wealthy people allow certain businesses that they are involved with to go pop and assumint they are some kind of "limited" company, the liability would indeed be limited and not borne by it's owner(s), usually it's the creditors that get burned and the banks.

The term is ''asset rich cash poor,'' due to his assets pre Covid, Argyle was probably valued as a billionaire. Post Covid, I would suggest his value has significantly dropped.

That's not in any way defending the way this has been handled.

Didn’t Salford have a similar problem with Koukash? Despite him being “loaded”.

I think you're looking for excuses now

Odd that Argyle isn't included in any of the lists of richest people in Canada (or Australians) and, as was the case with Koukash, has only been described as a billionaire since becoming involved in RL?

And?

As you're a man of the world and so clever I'll leave it to you to work out the significance......

Bodene Thompson now leaves Toronto, can't use the visa excuse any more as Leeds showing how it's done https://www.bbc.co.uk/sport/rugby-league/53763790 Who's next

Bodene Thompson now leaves Toronto, can't use the visa excuse any more as Leeds showing how it's done https://www.bbc.co.uk/sport/rugby-league/53763790 Who's next

I seriously hope not.
The death of one club to facilitate the promotion of another is just grubby and certainly not something to be celebrated.
After some of the dodgy "mergers" of the late 90's early 00's nothing would be a total surprise.
Surely, as a Bulls fan, after the "favouritism" over the "iconic" stadium debacle, you should want your club to progress through the proper channels and not want to arrive back in SL via some pseudo merger.

Were some of these players on holiday visas? Or student visas?!

Oh don't talk rubbish. If the Billionaire somehow dropped to a Half $Billionaire he still has more than enough money to pay the players contracts up. As for the drivel about [i"assett rich cash poor" [/i you read that crap somewhere else and copied it. If someone in big business has shares in companies they can sell them on the stock market and realise the cash in 24 hours.

TWP are a limited liability company with no assets, allowing Argyle to walk away, and walk away he has, leaving families in the lurch it's disgusting. Same for Ottwa Aces Ltd. another phoney set up with players signing on, BUT now knowing the financial risks they are taking. OK it's an adventure so these lads are taking that chance to swan about as a new wave of transatlantic RL players on an adventure. Anyway their risk, they now know what can happen......

But this has nothing to do with "Expansion" at all it's Perez just mucking about on the fringes of the game here.

Why do you think? It can't be because he cares for them? Maybe you can say this was the players look out, especially those with families, and maybe it was.