New Poster and Cas fan here.

Genuinely gutted to see this happen and hope everything works out for you guys.

Best of luck and let us hope that this marks the start of the new Wakefield Trinity.

On a side note, if a club goes into admin, don't they have to agree to pay a certain amount in the pound to creditors and you can't come out of admin until 75 percent of creditors have agreed.

If HMRC are your major creditor, does this mean they can keep Wakey in admin until they recover as much of their money as possible?

sadly you will find no such comments form me on any Crusader board as i have only recently taken an interest (regular poster) in the site as it is my only means of keeping tabs on the world of RL whilst i am living in Dubai.

secondly, non i have not wrote to any local MP as what is the point in the scheme of things.

thirdly, you have clearly never been caught up, taken for, or affected by a company entering administration before. the affects can be far reaching. i can give you a numbe rof exmaples form the construction industry where small sub-contractors have lost their homes, wordly possessions and will to live on the back of being taken for a few quid by some rather large construction firms. the feelings are world ending and leave many unable to sleep at night, but your right thats just business!! rediculous!! i bet you went to private school and fed with a silver spoon with an attitude like that?! maybe you are the one who needs to grow up?

i do agree re credit insurance and to be fair most companies i know do have it although with the ever increasing number sof companies bailing out the cost of premiums are soaring and they are reaching unaffordable levels for many, hence why they are not mandatory!!

and as for being a troll, i think not! bitter, maybe?

You are wrong on all counts, I have indeed been caught up and affected by companies entering administration (I did say this mate!) on BOTH sides of the fence. I have lost my job by a company entering administration and worked for companies who are owed money by companies going down. I know first hand how volatile the construction industry can be, but it is all about Risk and Reward, and as someone who often has the final decision on whether we do or do not enter a sub-contract then you always have this at the back of your mind. I said no to a sub-contract a few weeks ago for this reason... it was just not worth the risk IMO... but other people have different opinions and one of our competitors did as he signed! I am wrong or is he wrong? You tell me? He was prepared to take the risk (we could not get sufficient credit insurance) , I wasn't... that is business!

As for credit insurance making is compulsory is a waste of time and would just feed the insurance industry... when you are a new/smaller business you make the call, but you choose to be in business and make that call and benefit from the rewards... which have risks!

No, I didn't go to public school... although it is an Academy now!

Finally, having done some business in the UAE I do find it odd that anyone who chooses to live and work in Dubai would be pontificating about UK company law and moral trading... don't you!

If we're talking about franchises in purely business terms I think both clubs should be excluded from the next bidding round and it would be outrageous if just the Crusaders were 're-elected'. However if we remain sighted on RL as a sport it seems right that finances should not in themselves be knock-out factors but then again neither should be stadia conditions yet you can bet there'll be no leniency for Wakey/Cas in that respect.

There is no way in a milion years though that you would ever get any credit insurance whatsoever on pretty well any RL club. Maybe on Leeds if you were lucky, and perhaps on the stadium owning companies at Wire and Hudds, but usually forget it. Even most banks will not lend to most RL clubs. They are seen as terrible credit risks, and the succession of RL clubs becoming insolvent over the years justifies that stance.

And I say that having had precisely this discussion (albeit informally!) with Euler Hermes, Atradius and several of the big banks.

Sad news for RL but hopefully clears the way for a future for you.

Hopefully you are treated the same as Crusaders when it comes to points and franchise applications. Hopefully now the people of Wakefield can get behind the club

Thanks ted for all the bad memories and broken promises now is the time for you to keep one of your promises and get out of the club and leave us honest supporters with a little hope for a bright future.Heres hoping we now have something to look forward to

This is true... I think you would get lower amounts on some of the bigger clubs but you are right about Wakefield. But like I said, that is the risk and reward of business and is one of the obstacles to growing a business.... but you take the risk to get the reward!

Good luck folks. Hope you can emerge from this with an owner and a future.

Sad that it came to this but lets just hope now there is a smooth transition to new ownership and that we have a bright future. Everything will cross, is crossed!

As for those people saying that the poor small companies who will lose out, and then the club continues as if nothing had changed.... think about this...

If small company 'chooses' to give credit terms instead of payment up front, that is their choice whether to do that deal. They can choose to build in any risk involvement into the price. They can choose not to do future transactions if they feel they are having difficulty getting payment.

If they feel the club may be in difficulties, they can choose to put the club on stop until payment is received.

If the club after admin want to re-engage the supplier, they can pretty much expect a higher price which would recoup any previous losses. New club will not get the same terms as old club if there has been a loss.

With all business transactions with credit, there is the element of risk. You get some winners, some losers, some prepare for that with increased prices for the risk, some don't. With all business, there is the element of choice (no monopolies) so small companies cannot put ALL the blame at a club if they choose administration route.

Thats our super league licence up the swanny thanks ted.