FORUMS > The Virtual Terrace > Magic weekend and the Relegation Question. |
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| Stadium apart (which isn’t really there fault ) Wakefield are a model most clubs should look to because the squad they’ve assembled and I believe are still under the salary cap is excellent somebody is doing good business for them in there
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Quote: dboy "And yes, by the way, our stadium is pants.
The club are doing everything they can to rectify that - they just won't spend money they don't have. That's sensible.'"
Yet they've just spent £3.15m that they don't actually have and worse still paid almost double the actual value of the land/ground? https://www.pontefractandcastlefordexpr ... -1-9703559
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Quote: dboy "And yes, by the way, our stadium is pants.
The club are doing everything they can to rectify that - they just won't spend money they don't have. That's sensible.'"
Yet they've just spent £3.15m that they don't actually have and worse still paid almost double the actual value of the land/ground? https://www.pontefractandcastlefordexpr ... -1-9703559
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| Quote: Mr Dog "Yet they've just spent £3.15m that they don't actually have and worse still paid almost double the actual value of the land/ground?
Nope.
They club have taken on the loan at 2.5% interest, for 15 years.
The payments are less than they were paying in rent. Good business, wouldn't you say?
The land is worth whatever anyone will pay for it.
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| Also, thinking laterally, I wouldn't be surprised if the "inflated" value paid acts as a kind of ring-fence of the loan/ground.
As the loan could be deemed as more than the value of the land (as it stands today), it means the owners of the club can't borrow against the land (it has no equity), and as such they can't "max the cards" and scarper.
As the loan reduces and the value of the land rises (through inflation and development), the club will be much more "wealthy".
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| Quote: fun time frankie "Stadium apart (which isn’t really there fault ) Wakefield are a model most clubs should look to because the squad they’ve assembled and I believe are still under the salary cap is excellent somebody is doing good business for them in there'"
Also take in the fact we get less TV income due to the state of our ground - a fact people forget when slagging it off, apparently Cas are the same.
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| Quote: Willzay "Also take in the fact we get less TV income due to the state of our ground - a fact people forget when slagging it off, apparently Cas are the same.'"
At least Castleford has a reasonable sized fan base. Wakefield doesn't.
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| Quote: JEAN CAPDOUZE "At least Castleford has a reasonable sized fan base. Wakefield doesn't.'"
Yet Toronto do, you’re in desperate mode.
Wakefield are the sleeping giant of SL always have been. If you wern’t such a troll you’d congratulate a club that still commands a hard core support of 4000 whilst playing out of a hole in the ground but then stuff like that isn’t teally in your agenda is it.
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| Quote: vastman "Yet Toronto do, you’re in desperate mode.
Wakefield are the sleeping giant of SL always have been. If you wern’t such a troll you’d congratulate a club that still commands a hard core support of 4000 whilst playing out of a hole in the ground but then stuff like that isn’t teally in your agenda is it.'"
Toronto have twice the attedance of Wakefield, twice the stadium, but didn’t have to pay twice the value to own it lol
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| Quote: Mr Dog "Yet they've just spent £3.15m that they don't actually have and worse still paid almost double the actual value of the land/ground?
For a start it’s not double the value of the ground is it! The Red book valuation is just that, a valuation. The owner 88m actually paid 2.25 million for it and then paid at a guess another 100k.
No developer is ever going to sell at a loss or do you not understand how business works. So that being the case it is like all transactions what buyer will pay and what the seller will accept - red book valuations are meaningless.
That being the case Wakefield paid over the odds by maybe 20%. Not ideal but it simply had to be done.
Why it had to be done is what really matter, I’d explain it if I thought it would make any difference but frankly I don’t think your bright enough for it to be worth my time.
You worry about your club and we’ll worry about ours
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| Quote: Ruune Rebellion "Toronto have twice the attedance of Wakefield, twice the stadium, but didn’t have to pay twice the value to own it lol'"
Do they chuff, and when it comes to paying attendances they have less than Lock Lane. Sometimes the level of stupidity on here is nauseating. Still it is kinda funny that you suggest they get twice the gates Wakefield get because that makes them better supported than Saints who get away fans at most games
Right that should give you time to slip back into Jean mode.
Oh and their stadium is a municipal crap hole.
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| Quote: vastman "Wakefield are the sleeping giant of SL always have been.'"
That’s pushing it quite a bit.
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| Quote: vastman "True - there is NO market for RL in America, never has been, never will be'"
Rubbish.
Prove it.
Quote: vastman "in the meantime people waste time supporting schemes that would make Charles Ponzi blush.'"
What makes it a waste of time? They're bankrolled by someone else's money. They're supported by their own fans from a completely new market that never existed until recently. They're paying full time wages and creating opportunities that were never previously there.
What a waste of time.
Quote: vastman "RL continues to die a slow death in its UK heartland at both pro and amateur level whilst the air heads on here, in the media and in the games hierarchy vainly search for that magic bullet expansion club that will put it all right. Truly depressing.'"
Who came to who? Did we seek them or did they seek us? I think you're massively confused about how this has come about. The RFL have made it pretty clear that they have no expansion strategy. If clubs can find their own money she bankroll themselves and outlay the cost of travel for the poor skint Northern clubs, then they can join. So far, a few have volunteered. It has ZERO funding. It costs the game nothing and it would be ridiculous to turn them down as, if it does fail, costs us nothing.
I really don't see the issue.
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| There’s a bigger market for RL in North America after 2 years than there is in Wakefield after nearly 150.
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| Quote: MorePlaymakersNeeded "Phew, I thought you were going to pull me up for omitting Tattooine from the list of franchises,
.'"
Tatooine?!?! With that shed of a stadium?
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| Quote: Him "There’s a bigger market for RL in North America after 2 years than there is in Wakefield after nearly 150.'"
Maybe we should start dishing out free tickets.
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