Super. Thanks for the info.

Yorkcourt are coming out of this one quite nicely.

I would be very surprised if we didn't play in SL this season. Another club (presumably Widnes) wouldn't be able to assemble a squad able to play in SL in less than 4 weeks & if the RFL prevented us from playing in SL while under the control of the Administrator, they'd possibly be opening themselves up to claims from the club's creditors that the Administrator wasn't able to get the best value for the club.

So the prospect of administration is even more attractive then, as we were only going to get a third of the amount owed on the ground anyway through this deal. A bit naughty of the club not to reveal this information to shareholders though before agreeing it with YC. Just makes my signature seem all the more appropriate.

I thought at the stadium meeting at Belle Vue that Ted once said it was not Cala who had bought the ground, or was I mistaken ? Have they already paid us £1.1m why would they now not want the ground ?

I reckon we will go into administration at the end of the month then we just have to hope there is someone out there who is willing to take the club on, possibly one of the three previously interested parties.

It's just over half of what was left.



I don't know the full details of the negotiations, but if Cala wanted out & knew that WT didn't have the money spare to push them through the courts for the full amount of the contract the BoD have probably done the best thing possible by introducing YC to get them to take the land on instead. A little bit of something is better than a whole lot of nothing.

Its al very confusing if it was Cala who bought the ground and paid half to date ( well some time ago ) when was the other half due ? when we vacated Belle Vue ? So have Yorkcourt paid Cala their money back or some of it and do they now own BV but owe us some money ? In fact am really confused as to who does own the ground now or is it half way between someone who has paid us some money and the club.

More than that I think. Given the way the construction market has changed since they bought the ground in 2007/8 the construction industry has been turned on its head. What may have been a financially viable site then may not be now & it could well be cheaper for Cala to take a hit now rather than build the whole development & find that it costs them more in the long run.

Presume the contract was drawn up by Ted's Solicitor then. Because any half decent Solicitor would have made the deal watertight, so that Cala would not risk going to court, if we wanted to enforce it. Also, surely the Bod should have explored the propsect of Cala being allowed to walk away (but out of pocket for what they had paid to date) if they did not want to pay the total o/s and then the club could have looked to selll it to someone else for more than the 350k YC were going to provide

Ok thans will sleep on it see if understand it better tomorrow

As I understand it the £600k was due when we vacated, but this was to be replaced with £350k when NM got planning permission & therefore (in theory) before we vacated BV. As for who owns BV - "the land is not in the ownership of the club" - the asset value on the balance sheet is among the debtors (i.e. owed cash by) rather than fixed assets (i.e. what we can sell).

I am getting really confused now. I thought we had sold the ground for over GBP 2m (can't recall the exact figure) and had half to date, so how is the balance owed only GBP 600k? Did Ted take some to repay Directors Loans?

Simply because we'd had more than half the money & that had gone to repay the bank and cover some costs in the meantime.

The one thing the club has not had is Directors Loans (unlike a lot of other clubs who have far grater losses than we do). I'm sure that if Ted could have afforded to make such loans he would have done long ago & we wouldn't have had to sell Ryan Atkins to pay part of the original tax bill.

So the club have not been straight with people then, because I can't recall them ever saying they had had more than half.

Also, if Ted has not provided any Directors Loans, then that would tend to smash this urban myth that he has put all his cash into the club and now he is skint can't afford to anymore. So really not much to thank him for at all.

16th December
Speaking earlier Managing Director Diane Maskill saidI am pleased to confirm that the Wakefield and District Community Trust, formed by Sir Rodney Walker in 2008, has already been able to utilise some of this funding source which was first made available by Wakefield Council in 2009.]



One question that also needs answering here which seems to have passed people by is; How much of the funding has been used and for what ???