Here's an odd proposition for you... (sorry by the way, the Rodney Walker thing is fresh in my mind and I'm trying to get my head around possible scenarios)

Rodney Walker donates 165000 to Wakefield to pay the tax bill, upon the share thing being announced it gets turned into a loan - If 500000 is raised to own 50% of the club, then this effectively values the club at 1 million. Rodney Walker does not then take the cash out of the club but instead converts that loan into shares and at no further cost to himself he gets 16.5% of the company.

I'll stop now

Maybe there could be options explored on the 18th regarding a fighting fund?

Here's a thought.

If we accept the reality that the RFL are not going to give us a franchise, we will be a National League side next year. In which case, wouldn't £500K be much better put behind a National League team. It would go a lot further, might help us win something (which we have to do to get back into the top flight again), by which time hopefully Newmarket will be sorted and the future will look brighter.

So is the solution to go into administration, drop down, get a fighting fund for down there and so do more with it?

Perhaps someone with knowledge of company law can provide some info though, because my understanding of the Crusaders situation is that they went into administration, which of itself doesn't cleanse the debts, I think. All it does, I think, is ring-fence the assets as the administrator tries to come to agreements with creditors to sort out the debts. The Crusaders company then went bust (which is different to administration), and the new Crusaders company was set up in its place. In our case, would administration work, ie, the HMRC is not going to go away, and so we would have to do what the Crusaders did, and go bust and restart as a new limited company. But the principal asset related to our club, Belle Vue, is owned by someone else, with a payment pending on that, and so how would that work? The new club would not be allowed to say "give the money to us instead", I assume, as the money would be payable to the old company, not the new one.

What I'm trying to get round to is what would happen to Belle Vue? Would the buyer get it by default and we would have to come to a rental arrangement, and did the Crusaders avoid the tax and old debts not by going into administration, but by going bust?

It's my opinion that we should continue to fight for our super league status to the very last second, we fought really hard to win promotion into this division and even then we have to kick the door down to obtain access. Once in, we had to operate without super league funding for a period of time and have then battled against the odds to retain our place.

There are no guarantees!
If we drop a division and then over the next three years we win grand finals, get the new stadium built, create a solid financial foundation and tick all the other boxes we may still be denied a super league franchise in 2015 because of the geographical location of the club.

It's my suspicion that this is what was said to the potential investor who walked away after his meeting with the Rugby football league.

=#0000BF[size=150Faith Hope and Trinity[/size

In the absence of all the relevant details, which have quite reasonably been requested by a number of the club's supporters on this forum, it might help to try and summarise what we do know and what we can confirm as fact.

The shareholding offer, whilst publicised by the club will not be controlled by the club and neither will the money

Investments/donations will be paid into an ESCROW account which is secure from access by anyone from the club, the board of directors etc

Andrew Wright & Co, while acting as the club's solicitors are not under the employ of the club or the board of directors. They are a long-established firm of accountants whose impartiality in this matter can be relied upon

Any money paid into the ESCROW account will be refundable to each and every investor until such a time as the new shareholders decide how best to use the funds for the benefit of the club. That decision could be a number of things but the most likely are:

* Pay the club's immediate debt to HMRC
* Leave the money in the ESCROW account until further clarity is established
* Refund the money to each individual investor if that is what they wish
* In the event of the club entering Administration the funds could be used to purchase the club from the Administrator
* Use the money as a fighting fund to help rebuild the club along with any new investor

The vitally important thing to remember is that it is you/us/the supporters who will decide what happens with the money

What is clear is that if no such fund exists we as supporters will have no choices to make, no influence to bear and we will have to sit by and watch OUR club be torn apart

Ted has indicated publicly that, in the event that the £500,000 is raised, he will transfer his shares probably to the Supporters Trust

Finally!
please do not see this as a mechanism to bail out the current board of directors
Change at the top is now an inevitability, either through a positive outcome of the shareholding or because of Administration!
[size=150=#FF0000Do you want to have a say![/size

I think the options are more limited than that. There are two options available:
1. Monies raised are used to pay off HMRC.
2. It isn't and we go bust.

In relation to option 2, that is when the other choices kick in;ie, do people want their money back or is it used as a fighting fund for the new company.

In relation to the first option, and this is where the lack of information is frustrating, the worry is that we save the club on 31st January but then get another big bill on 31st July, we have no money to pay it, and we go bust. No 500k fighting fund for the new company.

before we go to the supporters trust meeting on the 18th we hope to fill some of the information gaps and get some assurances about the club's position going forward

Thats my view on this, i can see the other side of the coin but we should fight for what we have earned, you have my full support Clan.

if ted walks away and transfers his shares,ive been told that he would stll be entitled to the rest of the ground money,leaving us in a state like crystal palace were under ron noads and mark goldberg

are we as fans allowed to speak with the rfl and ask them what is going on. you cant play against a stacked deck

what are the fans ambitions. mine is to play in the top flight but not at the expence of the club, if we cant generate enough income to compete then what is the point in carrying on like this.

is there enough money to pay the players and staff at the end of the month.

Without answers to the many questions being asked we are going in totally blind. No point putting any money in until we know exactly what we are dealing with.

i agree jt no one wants to answer any and imo this is just the tip of the ice berg.