The problem as I see it, is it is difficult to convince enough people that this is the better option then admin and reforming with much reduced debts and a potentially longer term future (particularly as most would accept a SL franchise for 2012 is not going to be coming our way).

As I said before, whether the money is raised or not the current BOD should leave once the matter has come to a head anyway. Their shares are worth nowt and they offer no value in running the club.

come the 31 January, either we have raised the money required and the board of directors are gone or we have failed to raise the money and the board of directors are gone along with OUR club.

OR

The club has gone into administration and the BoD have gone, along with the majority of what appears to be crippling debts and liaibilities; it can then be bought for a song and relaunched, with any investment that is secured being used for something more productive than servicing historical debt.

Clan,

Are you saying that the club would not go into administration and continue trading whilst the firm appointed as administrators sought the best possible offer to sell the club as a going concern?

I am still confused over the urgency. As the season hasn't started yet, we can't have spent our share of the Sky money, we will shortly start receiving match day revenue etc... surely this tides us over for longer than the end of Jan?

I must admit that is what I would have expected to happen.

Correct; thats what Wrexham have done.

I'd think that if it did, more investment would be forthcoming than will be attracted by this offering; giving money to the current administration seems akin to pi55ing ones pants to keep warm.

The Rugby football league have made it clear that should we enter Administration we will not be treated in the same way that Crusaders were.

In the event that we enter Administration I'm not sure what the board of directors would do, I expect that they will walk away leaving what's left of the club to hopefully be picked up by new owners. That may sound attractive but in view of the Rugby football league's attitude towards Wakefield Trinity, I'm not sure where it would leave us as a club.

Agreed. Going into admin has no bearing on our SL franchise application following the change to the rules to allow Crusaders to remain.

I have already decided that at this stage my money will stay in my pocket for now. However, I would be willing to put a grand in the pot if the current BOD were gone and as you have said the money could be used for more constructive purposes.

It would be interesting to hear a reasoned argument as to why administration is not the best way to go.

Clan, I know the RFL wont loan us the GBP 350k, but I cannot see how they can treat our going into admin any different then Crusaders. They will be able to come up with other reasons they can give for not giving us a new SL franchise, but this could in no way be one of them

The Rugby football league see the Crusaders problems as ones created by the previous owners of the club and have mitigated their response to them entering administration.

They see Wakefield Trinity and the financial problems they have in a completely different light and will throw the book at the club if they enter Administration, let's not beat around the bush here the game's authorities are licking their lips in anticipation.

I understand that you wouldn't want the current board of directors to get hold of your money and I can assure you that there is absolutely no possibility that they can. Any money pledged towards the new share scheme will be deposited in an escrow account which cannot be touched by the club its directors or anybody else. If enough money is raised Ted, Eric and Ray Barnes will walk away from the club and donate their shares to someone. There will be no payoff, there will be no directors loans repaid, no golden handshake NOTHING!

Once they have gone the money will be used the best way it can to refinance the club and return it to a position where it can function day-to-day as a going concern!

If not enough money is raised then every single penny of your money will be repaid to you if that's what you want! There is no risk that your money will not be used for the purposes of which you pledged it.

I'm convinced that no matter what happens, we're not getting a SL franchise anyway, so the Crusaders issue is a red herring in my view; the RFL will do exactly what it wants and are not obliged to explain their reasons.

Like you, I'd be happy to invest in a new entity that was divested of the liabilities, both financial and human, that currently burden WTW.

This might sound like a ridiculous statement, in fact I'm having second thoughts about saying it, but
don't give up on a super league franchise just yet!

Whatever happens about the financial position of the club, raising the money, failing to raise the money, finding a new investor or entering administration, the Rugby football league will view our financial management as very poor. We will score mediocre to poor on crowds but so will a number of other clubs, in all other aspects of the franchise proposal, marketing, community work, youth development we will score highly.

As for the stadium, we will include Newmarket as part of the application but we will be playing from a stadium which will probably be as good as any in the game and we will have a tenancy agreement which is legally binding and will cover the whole of the franchise period. The RFL will have no choice but to score highly in that category.

Here's hoping!

And there lies the problem, who ever they give their shares to will control the club, so the fans that throw their money in will have no control over the club whatsoever, it will not be like a fans trust, even if the fans have 50 % of the vote its is unlikely that they will all vote together. Who ever gets Ted an co's shares will form the new board.

Look at it like this, if the fans were running the club and Ted and co are standing aside who are they to make promises about Newmarket seats, season tickets, stadium tours, you could have as many tours as you liked. The money is just a way of clearing debts.

Also who do you think Ted and co will give there shares to? and you think they will give all these shares away and not be having some influence in the back ground.

This is being painted out to be something it is not, true fans will have their say on the new board, they are share holders after all, but their say will mean nothing because they will not have enough shares.

I would be impressed if Ted Was to give is shares to the fans or a fans trust, then maybe I would believe all this fans having a say bull.

Ted should tell you know who is is going to make king.