| FORUMS > Wakefield Trinity > Member Shareholders Meeting Tonight |
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| Quote: Dunkirk Spirit "I think you’ll find the directors (spirit of 1893) put £1.3 million into the redevelopment, some money was spent on the large screen @ north west corner, new roof on Rollin shack and the new pitch. You may argue that’s only 10% that’s been spent elsewhere on the ground but that other 90% was delivered by mainly JM and MC, why is that so difficult for you to understand? Why do you have so much hate for our directors and the club, it really isn’t healthy for you.'" so I'm assuming if they did there would be proof of this somewhere. So would I be right in saying these are directors loans which if you add on to the council loan and the covid loan amount somewhere in the region of over 5.4 million pound of debt and that's without a balance sheet which is forecast to show a massive loss. Is that correct or did the floodlights, roof and screen come from the 2 million gift money from the council |
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Quote: MOPSEY LIVES ON "so I'm assuming if they did there would be proof of this somewhere. So would I be right in saying these are directors loans which if you add on to the council loan and the covid loan amount somewhere in the region of over 5.4 million pound of debt and that's without a balance sheet which is forecast to show a massive loss. Is that correct or did the floodlights, roof and screen come from the 2 million gift money from the council'" t
The figures I quoted were documented in the council documents planning permission also relating to the funding for redevelopment. Unfortunately, those documents are no longer showing on the planning portal. Perhaps Pop Tart can confirm what JM quoted on Monday night, the £8.2 million from York Court, £2 million from Council (Cas & Fev also got 2 million each) and £1.2 million from the directors.
I will search on planning websites again for the said documents, or we can trawl through the Stadium planning threads from the past 3 years, I know I posted links for all to see.
I don’t know where you get the figures of £5.4 million from. From memory I recall council loan £3.2 million, Covid loan around £900,000 = £4.1 million. I believe JM said on Monday night, Directors loans would not be reclaimed.
If anyone on here was at the meeting on Monday, can they confirm or correct me. Thanks
Edit, I’ve located some documents dated 15th June 2022. It would appear I underestimated the directors contribution.
BELLE VUE DELIVERY PLAN REPORT
Second row down, click on documents tab at end of row
https://planning.wakefield.gov.uk/onlin ... 7D2QQJOS00 |
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Quote: MOPSEY LIVES ON "so I'm assuming if they did there would be proof of this somewhere. So would I be right in saying these are directors loans which if you add on to the council loan and the covid loan amount somewhere in the region of over 5.4 million pound of debt and that's without a balance sheet which is forecast to show a massive loss. Is that correct or did the floodlights, roof and screen come from the 2 million gift money from the council'" t
The figures I quoted were documented in the council documents planning permission also relating to the funding for redevelopment. Unfortunately, those documents are no longer showing on the planning portal. Perhaps Pop Tart can confirm what JM quoted on Monday night, the £8.2 million from York Court, £2 million from Council (Cas & Fev also got 2 million each) and £1.2 million from the directors.
I will search on planning websites again for the said documents, or we can trawl through the Stadium planning threads from the past 3 years, I know I posted links for all to see.
I don’t know where you get the figures of £5.4 million from. From memory I recall council loan £3.2 million, Covid loan around £900,000 = £4.1 million. I believe JM said on Monday night, Directors loans would not be reclaimed.
If anyone on here was at the meeting on Monday, can they confirm or correct me. Thanks
Edit, I’ve located some documents dated 15th June 2022. It would appear I underestimated the directors contribution.
BELLE VUE DELIVERY PLAN REPORT
Second row down, click on documents tab at end of row
https://planning.wakefield.gov.uk/onlin ... 7D2QQJOS00 | |
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| Quote: MOPSEY LIVES ON "so I'm assuming if they did there would be proof of this somewhere. So would I be right in saying these are directors loans which if you add on to the council loan and the covid loan amount somewhere in the region of over 5.4 million pound of debt and that's without a balance sheet which is forecast to show a massive loss. Is that correct or did the floodlights, roof and screen come from the 2 million gift money from the council'"
It's all in the accounts as either loans or assets.
But you didn't answer his question. |
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| Quote: Dunkirk Spirit "I think you’ll find the directors (spirit of 1893) put £1.3 million into the redevelopment, some money was spent on the large screen @ north west corner, new roof on Rollin shack and the new pitch. You may argue that’s only 10% that’s been spent elsewhere on the ground but that other 90% was delivered by mainly JM and MC, why is that so difficult for you to understand? Why do you have so much hate for our directors and the club, it really isn’t healthy for you.'"
I've tried to stay out of all this but they didn't put that in, they did though source it! A £1.8 million contribution came from the club, the vast majority of which was through grant funding with the rest coming from the clubs cash reserves. It's a big reason why we wanted a football club at BV asap as they have plenty of grants available to them and they used a bid writer to give them the best chance of success. It didn't come from the directors pockets though, hence why it doesn't show as a debt on the accounts. |
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| Quote: Sacred Cow "I've tried to stay out of all this but they didn't put that in, they did though source it! A £1.8 million contribution came from the club, the vast majority of which was through grant funding with the rest coming from the clubs cash reserves. It's a big reason why we wanted a football club at BV asap as they have plenty of grants available to them and they used a bid writer to give them the best chance of success. It didn't come from the directors pockets though, hence why it doesn't show as a debt on the accounts.'"
Good work all the same.
It's frustrating that it is taking so long and I can't imagine there is much left to negotiate. If Ellis wants a SL club he's chosen the wrong season to come to the table, if the current directors want their loans back then they're on a hiding to nothing. What else is there to dicuss? |
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| Quote: Khlav Kalash "Good work all the same.
It's frustrating that it is taking so long and I can't imagine there is much left to negotiate. If Ellis wants a SL club he's chosen the wrong season to come to the table, if the current directors want their loans back then they're on a hiding to nothing. What else is there to dicuss?'"
OMG! How many times does this have to be said.
They are not asking for their loans back. |
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| Quote: PopTart "OMG! How many times does this have to be said.
They are not asking for their loans back.'"
It a question what their loans actually amounts to because no accounts since Nov 2021 have been declared I believe. |
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| Quote: PopTart "OMG! How many times does this have to be said.
They are not asking for their loans back.'"
Exactly, so what else is there to negotiate? |
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| Quote: Khlav Kalash "Exactly, so what else is there to negotiate?'"
Well just off the top of my head
How much money are they actually intending to put in?
Who from DIY Kitchens is going to make the decisions?
What structure are they going to implement to run the club?
What are they going to do about the part completed projects?
What are they going to do with current employees.
Ellis will want to know what is expected from RFL. What the IMG rules will be.
How much will he have to invest to get what he wants out of the club.
Who is available to recruit to his team.
What division will we be playing in.
Etc etc etc. |
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| Quote: Khlav Kalash "Exactly, so what else is there to negotiate?'"
Lots of things that both parties would need assurances on…what are the new owners plans to protect the clubs foundation, academy set up, community work, how long are they committed for, why do they want to own the club, where’s the money coming from, who will actually own the club, what happens if we get relegated, who will run it day to day…what are their credentials(!!!!). Now you might say many of those points are nothing to do with the current board but if due diligence is being done properly and to ensure the long term future of the club then it’s right those should be answered. Also Mr Ellis would have lots of questions and evidence needed from the current board. |
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| Quote: PopTart "Well just off the top of my head
How much money are they actually intending to put in?
Who from DIY Kitchens is going to make the decisions?
What structure are they going to implement to run the club?
What are they going to do about the part completed projects?
What are they going to do with current employees.
Ellis will want to know what is expected from RFL. What the IMG rules will be.
How much will he have to invest to get what he wants out of the club.
Who is available to recruit to his team.
What division will we be playing in.
Etc etc etc.'"
Exactly,, off the top of your head ... non of us on here know the nitty gritty of this... all we know is that we have a very wealthy person wanting to buy the club and our chairman is still not satisfied that he is a suitable person. |
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| Quote: PopTart "Well just off the top of my head
How much money are they actually intending to put in?
Who from DIY Kitchens is going to make the decisions?
What structure are they going to implement to run the club?
What are they going to do about the part completed projects?
What are they going to do with current employees.
Ellis will want to know what is expected from RFL. What the IMG rules will be.
How much will he have to invest to get what he wants out of the club.
Who is available to recruit to his team.
What division will we be playing in.
Etc etc etc.'"
Yep all fair points. but 8 weeks? I wiuld imagne allt gat was covered in the first week or so. This isn't a multi million pound, multi faceted business were talking about. |
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| Rank | Posts | Team |
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| Quote: AMI "Lots of things that both parties would need assurances on…what are the new owners plans to protect the clubs foundation, academy set up, community work, how long are they committed for, why do they want to own the club, where’s the money coming from, who will actually own the club, what happens if we get relegated, who will run it day to day…what are their credentials(!!!!). Now you might say many of those points are nothing to do with the current board but if due diligence is being done properly and to ensure the long term future of the club then it’s right those should be answered. Also Mr Ellis would have lots of questions and evidence needed from the current board.'"
Again 8 weeks of talks shiuld be enough to cover most aspects noted above. I work for a developer who go through a 4-6 week period of DD before pumping crica £20m into a 300 unit site. |
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How much money are they actually intending to put in?
We intend to invest whatever finances are needed to make Trinity regular challengers for CC Finals, Play Offs & GFs
Who from DIY Kitchens is going to make the decisions?
Matthew Ellis will be Chairman but we’ll scour the sports world for the best CEO available
What structure are they going to implement to run the club?
We’ll take our lead from the best sporting structures there is, NRL Clubs, Premier League etc
What are they going to do about the part completed projects?
Complete them, without compromise!
What are they going to do with current employees.
We’ll assess everyone individually on an ongoing basis but new Director of Rugby, Operations Director may wish to make new appointments and/or changes
Ellis will want to know what is expected from RFL. What the IMG rules will be.
Already touched base with RFL & IMG re post take over meetings
How much will he have to invest to get what he wants out of the club.
How long is a piece of string? Time will tell but ME has deep pockets
Who is available to recruit to his team.
That’s a process which will take time but in the meantime we’ll bring in an interim CEO
What division will we be playing in.
Get the take over completed and we will invest enough to ensure it’s SL
The only real questions are
Is Matthew Ellis a reputable individual befitting of the station
Are Matthew Ellis’s intentions genuine and robust
Is Matthew Ellis committed for the long term
Do the new owners have the financial resources to achieve their goals
Can the new ownership progress the club beyond where the incumbents can
If yes to these questions then get out of the way
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| Quote: Khlav Kalash "Yep all fair points. but 8 weeks? I wiuld imagne allt gat was covered in the first week or so. This isn't a multi million pound, multi faceted business were talking about.'"
That's exactly what it is. |
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