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 ???

Am I right in thinking that WTRLFC received a loan from WMDC to pay for the cost of the proposals for outline planning permission? If so, does anyone know how much this was for and the likelyhood of the local taxpayers seeing this money again (admin or not).

Am I right in thinking that Ted owns the Cats Bar and if so where does that fit with selling the ground, as it seems to be an integral part of it.
Also, who actually owns the Hospitality block? If it is owned by the club, can it be sold to realise some cash?

The Community Trust got a loan that was guaranteed by WMDC for the plans. If the development is approved & goes ahead then the Community trust will be able to repay the debt in the agreed term. WMDC Council Tax payers will only end up footing the bill if the plans for the stadium are rejected.



AFAIK the Cats Bar forms part of the "land & buildings" at BV and was therefore an asset of the club, although I'm happy to stand corrected on that front.
The hospitality block is owned by the club and in theory could be sold, however, for the time being they serve a purpose through the week housing the club offices & Learning Zone and on match days are a source of additional income (above normal gate receipts) for the hospitality sales.
Selling them now would actually be detrimental and the costs associated to dismantling, relocating & rebuilding them would mean that there is no real value in them at all. The bank certainly won't see them as any form of collateral.

Let's get something clear...Ted Richardson may have found himself falling on harder times than he (and I'm sure the vast majority of us) would have liked in recent months and I know that as a fan of Wakefield Trinity he would want to do all he could to help the club, but the constant innuendo about carving club assets out for his personal benefit is ridiculous. Do you really think that if he had these assets they would have been hidden as he was having to sort out his IVA?

The club has had very little in the form of tangible assets for years other than the ground & the BoD got the best deal they could for the club at the time it was sold. WT may be a small company by general standards, but the likes of Cala or Yorkcourt would not want to buy a large plot for redevelopment knowing that there was going to be a bar & changing room facility in one corner of the site that they needed to buy separately.

Asset stripping is something that I have seen directors of companies get sent down for.

There is only one reason why the club has fallen on hard times & that is not enough people coming through the turnstiles every other Sunday. ATEOTD RL is in the entertainment industry and when the team is performing badly it's understandable that people vote with their feet. Add to that the impact of bad weather on some occasions & people tightening their belts because of the recession and it's no real surprise that income has fallen below the levels needed to cover the expenses each month.

Not the answer I was hoping for, but thanks all the same!

What answer were you hoping for?

while i agree with most of what you say, and its good for us to have someone on here who understands the procedures if not the exact company position, believe me it is greatly refreshing.
1) the amount of inuendo that is flying around is due to one reason and one reason alone, Teds reluctance to tell anyone anything, therefore someone makes a guess, someone adds something else, someone gets the wrong end of the stick and tells someone else......... ted has created this whole inuendo problem for himself by the way he runs the club, end of.
2) it is too complex a problem to simply blame one factor, gates have been poor, but why? Apathy? Poor Stadium? Poor Product? Players Sold? Fans Disenfranchised? Poor Management etc etc
one undeniable fact is true, anyone staying away for any reason, we need you back if we are going to get out of this hole, if you want a club for the future of your kids and grandkids, get off your s this season, even if its just to bring a big "Ted Out!!!" banner and to make your protest heard. But we need the money.
One way or another this will come to a head, shortly, then we need to push on, together for the good of OUR club.

So when the administrator does step in, can we safely assume that he will continue to keep the club functioning, and that we will be able to at least start the season as a SL club, or in the possible event of there being no interested parties in stepping in to buy the club, will he just pull the plug and shut-up-shop ??
Also, when are we eligible for our next round of SL money, or have we already had it ??

Many clubs have been through Administration and come out the other side, Hull KR for one as the BBC made a documentary about it. The Administratior should keep the business trading until it can be sold.