FORUMS > Wakefield Trinity > £500k supporters trust = only 50% ownership? |
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| Quote: The Clan "its my understanding that none of the three directors of the company wish to stay on in any capacity other than spectators on the terrace!'"
They could stand next to Mopsey.
The questions you raised above are the fundamental ones, I think, and the ability to get through the rest of the season intact is the main one.
If we do go enter a period of administration, do existing liabilities continue to be met, because it doesn't sound like an arrangement just for a weekend or so. I'm thinking of the players' wages, because I can't see them performing for nothing (and who can blame them?).
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| Quote: Slugger McBatt "They could stand next to Mopsey.
The questions you raised above are the fundamental ones, I think, and the ability to get through the rest of the season intact is the main one.
If we do go enter a period of administration, do existing liabilities continue to be met, because it doesn't sound like an arrangement just for a weekend or so. I'm thinking of the players' wages, because I can't see them performing for nothing (and who can blame them?).'"
The administrator would effectively take over the running of the club.
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| Quote: Slugger McBatt "They could stand next to Mopsey.
The questions you raised above are the fundamental ones, I think, and the ability to get through the rest of the season intact is the main one.
If we do go enter a period of administration, do existing liabilities continue to be met, because it doesn't sound like an arrangement just for a weekend or so. I'm thinking of the players' wages, because I can't see them performing for nothing (and who can blame them?).'"
I'm no Insolvency expert but I think RDM has summed it up pretty well earlier.
If there is sufficient working capital the Administrator can continue to run the Club and pay wages until he can find a buyer for the Club and pay creditors whatever he can. If he cannot find a buyer he will liquidate the Club.
I believe its imperitive that we know the full picture of the debts before anyone invests another penny and we are working on this. If the Club is beyond saving that investment will be required to buy the club and continue to run it.
I'm happy to put in £1,000 if it secures us a sustainable future but not if all we are doing is papering over cracks - rather like your analogy of £100 and the homeless person.
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| Quote: Sandal Cat "I'm happy to put in £1,000 if it secures us a sustainable future'"
That's pretty much where I am. "Saving the club on 31st January" is not the same as "securing the future of the club".
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| Quote: Catwoman1 "Well you've been told wrong Mopsey
The ground belongs to Wakefield Trinity RLFC - end of!'"
who owns wakefield trinity rlfc ?.
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| Quote: j.c "who owns wakefield trinity rlfc ?.'"
The shareholders as its a Limited Company, the major shareholder being Ted Richardson but he is not the sole shareholder indeed many supporters including myself own a few.
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| Quote: Sandal Cat "The shareholders as its a Limited Company, the major shareholder being Ted Richardson but he is not the sole shareholder indeed many supporters including myself own a few.'"
so who owns the ground and who is entitled to the rest of the money owed
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| Quote: MOPSEY LIVES ON "so who owns the ground and who is entitled to the rest of the money owed'"
Don't know but we need to know all those details and the debts and we are trying to find out.
I will hapilly invest £1,000 but only if I'm made aware of the facts and that investment ensures a sustainable future for the Club. I will not invest a penny until we are told who owns the ground and are given details of all the assets and liabilities of the Club - only then can we decide if there is any point to it.
If the Club is so far in debt Administration may be the only answer and then start again but we don't know.
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| What's that song? There are more questions than answers.........
I think should we go into admin, an investor will soon step in, we won't have to worry about finding £500K.
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| Quote: MOPSEY LIVES ON "so who owns the ground and who is entitled to the rest of the money owed'"
another one of the pertinent points is, if as catwoman1 says its wtrlfc, who owns wtrlfc???
good luck Sandal Cat ill throw a beer over you again if you find out enough!
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| Quote: Sandal Cat "Don't know but we need to know all those details and the debts and we are trying to find out.
I will hapilly invest £1,000 but only if I'm made aware of the facts and that investment ensures a sustainable future for the Club. I will not invest a penny until we are told who owns the ground and are given details of all the assets and liabilities of the Club - only then can we decide if there is any point to it.
If the Club is so far in debt Administration may be the only answer and then start again but we don't know.'"
and until the club openly tell the Wakefield fans the full details it puts many off,
the clocks ticking the longer they delay the harder it will get
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| That they are expecting people to fork out without providing fundamental information quite frankly beggars belief
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| You as loyal fans are being treated with contempt by your owners, i hope you pull through this, as i have always had good times with the trin army and have always been welcomed at belle vue. you have some of the best supporters in the game. if the worst comes to the worst i am sure you will rise again out of the championship hopefully without this board of directors and THEIR debt.
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| Quote: widvik2001 "You as loyal fans are being treated with contempt by your owners, i hope you pull through this, as i have always had good times with the trin army and have always been welcomed at belle vue. you have some of the best supporters in the game. if the worst comes to the worst i am sure you will rise again out of the championship hopefully without this board of directors and THEIR debt.
Thanks, your support is appreciated
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| So as season ticket holders we are counted as "creditors"? Suppose all the ugly details will come out in time to us then, if and when we enter administration.
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