FORUMS > Wakefield Trinity > Another franchise rumour |
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| Quote: vastman "I agree and as I said they are unlikely to be called but to dismiss them as not proper debt as the two posters did is wrong. They could be lethal in certain scenarios. IMHO they would be better off without them, certainly not such a high percentage as it does leave them very exposed especially in the current climate where many apparently wealthy individuals are going under. I mean that's pretty much how we lost control of BV.'"
I agree with you(amazing i know).
I understand Harlequins have circa £5m/£6m subordinated debt.Which just shows that the business model quite simply isnt viable,when someone is having to pump in millions each year just to keep them afloat.What happens when someone like David Hughes at Harlequins decides he doesnt want to put money in anymore!!
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International Board Member | 332 | No Team Selected |
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| About time we gave Mohammed bin Hammam and Jack Warner jobs at the club.
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Player Coach | 147 | No Team Selected |
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Sep 2005 | 19 years | |
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17603_1281784956.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_17603.jpg |
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| Quote: fat faced fan "they may have to defend it in an employment tribunal. we don’t know the facts just yet. let’s wait and see.
regardless of this, somebody will take him for next season even if hkr get rid or don’t renew at the end of the season.
we signed tevita leo-latu afterall.'"
It all depends on the outcome, but if he has breached club rules and that is deemed serious enough to be classed a gross miscounduct he would expect to be dealt with same as any other employee in any other profession, which could lead to dismissal, then Mr cockayne would have to go down the appeal process, that's if he has breached Club rules, usually all parties involved are suspended as routine to allow a fact-finding investigation to take place.
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15993_1515231183.jpeg [color=#400000:2dasnjxb]"Wakefields Sporting Crusader"[/color:2dasnjxb]
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| Quote: vastman "I can't see why not, that's simply bizarre IMHO. If a director calls in his loan and it's not paid he will apply to have the company wound up the same way a bank or anyone else would. The only difference is he wouldn't be a preferred creditor like the HMRC and Banks are.
In fact as far as I'm aware and TRB may be able to confirm this, the RFL do not like Directors loans and prefer clubs not to have them,'"
I don't think it's a case that the RFL don't like directors loans, more that they prefer clubs to be able to finance their activities from their operational activities - i.e. to be self-funding and not sustainable. A business which is unable to service it's loans is not sustainable and there is a danger that any business which relies on 'loans' being used as a bail out, even without the immediate requirement to re-pay, may one day be re-payable and could therefore render a club insolvent in an instant.
It would be exactly the same with us if Parkin had bought the club. He would have 'loaned' the club money to pay our ways, initially at least, but we wouldn't care at the time because we would be succesful - probably.
So unless the loans are required for payback now, or that the lender himself is struggling, then it shouldn't be a problem - for now!
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'when my life is over, the thing which will have given me greatest pride is that I was first to plunge into the sea, swimming freely underwater without any connection to the terrestrial world'
Yves Le Prieur, the real inventor of the aqualung: |
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| Quote: Wildthing "Agreed. I wouldnt want him anywhere near a Trinity shirt!
Don't worry, he is better than Championship level
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'when my life is over, the thing which will have given me greatest pride is that I was first to plunge into the sea, swimming freely underwater without any connection to the terrestrial world'
Yves Le Prieur, the real inventor of the aqualung: |
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| Quote: vastman "Are you talking us or HKR? Applies to both I suppose. Directors loans are messy, but when they make up allegedly 80% of the loans that really messy.
Imagine if one of those Directors went bust, his creditors I believe would be in a position to call that loan as an asset? In which case they could take temporary stand or the car park for all I know. It's a nightmare scenario if you are a HKR fan or any fan.'"
They would get done for theft in our case, we only lease the ground
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2358_1651040874.jpg Wakefield TRINITY:d7dc4b20b2c2dd7b76ac6eac29d5604e_2358.jpg |
Moderator
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| Quote: rover49 "Don't worry, he is better than Championship level
Indeed. But who will want him now? He's an idiot.
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'when my life is over, the thing which will have given me greatest pride is that I was first to plunge into the sea, swimming freely underwater without any connection to the terrestrial world'
Yves Le Prieur, the real inventor of the aqualung: |
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| Quote: Wildthing "Indeed. But who will want him now? He's an idiot.'"
I agree, I was one who wanted him out after the beating up of the bloke on CCTV. To be fair, on the field he is a good, solid player who always gives 100% for 80 mins, even when the others gave up (after 20 mins against Wire), but he has become a liability to the club and should go. He will get a new club though, someone will have him as he will be cheap on the cap and covers several positions.
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Player Coach | 459 | No Team Selected |
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39966_1297619742.gif when no-one else can understand me
when everything i do is wrong
you give me hope and consolation
you give me strength to carry on ]:d7dc4b20b2c2dd7b76ac6eac29d5604e_39966.gif |
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| he's a thug, simple as
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50836_1298143372.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_50836.jpg |
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| Quote: wildcatowl "he's a thug, simple as'"
I agree.
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39966_1297619742.gif when no-one else can understand me
when everything i do is wrong
you give me hope and consolation
you give me strength to carry on ]:d7dc4b20b2c2dd7b76ac6eac29d5604e_39966.gif |
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| my mate shouted to him "do that again and i'll smack you myself" when he played against us. needlees to say i moved away from him for a while.
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| Another 3 rumours today 1 we're deffo getting a SL licence as RL impressed with app new owners ,NM & youth set up plus potential of Wakefield as a RL city. 2 quins voluntary going down relocating and changing name. 3 us and cas going down due to lack of stadium development but both been let back up when stadiums sorted. No doubt new rumours every day until franchise is announced. Ps has there been any sporting side ever been not awarded a franchise and relegated unvoluntary?
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41301_1618663057.jpg Wakefields roller coaster ride continues.:d7dc4b20b2c2dd7b76ac6eac29d5604e_41301.jpg |
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| Quote: M62 J30 TRINITY "Another 3 rumours today 1 we're deffo getting a SL licence as RL impressed with app new owners ,NM & youth set up plus potential of Wakefield as a RL city. 2 quins voluntary going down relocating and changing name. 3 us and cas going down due to lack of stadium development but both been let back up when stadiums sorted. No doubt new rumours every day until franchise is announced. Ps has there been any sporting side ever been not awarded a franchise and relegated unvoluntary?'"
Don't know about that, but we were not bottom and relegated when SL formed.
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Mar 2010 | 15 years | |
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50836_1298143372.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_50836.jpg |
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| Quote: M62 J30 TRINITY "Another 3 rumours today 1 we're deffo getting a SL licence as RL impressed with app new owners ,NM & youth set up plus potential of Wakefield as a RL city. 2 quins voluntary going down relocating and changing name. 3 us and cas going down due to lack of stadium development but both been let back up when stadiums sorted. No doubt new rumours every day until franchise is announced. Ps has there been any sporting side ever been not awarded a franchise and relegated unvoluntary?'"
I have heard number 2 myself and it makes sense so is therefore very unlikely to happen.
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Rank | Posts | Team |
Player Coach | 50 | No Team Selected |
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Black Backgrounds/Kermit%20the%20Frog.gif NORMANTON'S NUMBER 1 13..............:Black Backgrounds/Kermit%20the%20Frog.gif |
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| Quote: wildcatowl "he's a thug, simple as'"
do you know him....?
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