The RFL "tried' to help Quins RL in the past.......Just the problem was Paul Blanchard and his marketing person that he had "worked with before' at Surrey Cricket thought they knew better.. The person I met with who was employed by the RFL and was 'trying' to assist at THE STOOP (FFS.....don't give bazza anything to be proud of

) came across as very knowledgeable about both Marketing RL as well as getting exposure in the local press in London. More's the pity that the management at Quins RL didn't take the advice on offer.

If Wakey do receive 500k from the RFL to ensure they see out the 2011 season, then working on a tenner income per ticket, they need 50,0000 more fans than last year....so 128,000 all told. That's 10,000 a game........or 60% up on 2010.
The last thing they need is to see less than 6k average....make the same losses AND owe the RFL 500k.

The RFL will be happy with a 500 K loss to have everything neat and tidy , no chance of a parachute payment for them though I'd have thought

i think the immediate tax bill is only 350thou.

but they have asked for 500k AFAIK.

That's to cover immediate debts and put the club in a position to go forward

if i understand it right 'off these boards' there are two train of thought on this.

one of them is this,someone has already payed a 160thou tax bill but it was only a loan so the rest of the 500k would go to repaying him.

secondly the remaining 150k is for immediate running costs of the club.
thats how i'm understanding it at the moment.

The tax bill isnt £350k or £500k, we havent been told about the tax bill.

Wakey were expecting a payment of £350k from the developers which feel through(or delayed) when the stadium was called in.

They have since asked for a share issue (in some strange form) to bring in £500k.

They probably dont need either immediately. In fact a I doubt that Wakefields immediate debts are that big, or massively different form the usual costs they incur.

However they do have some immediate debts and are losing Circa £200k a season with a chairman in IVA who wants out. It seems like a sensible option that they have taken the opportunity to sell part of the business, Bring in some money to cover outstanding debts, and cover the expected losses throughout this season.

I would be surprised (and frankly outraged) if this money they are asking for is to cover historic debts and not future running costs to at least the end of this season.

It is unthinkable that Wakefield wont finish the season let alone start it.

it sounds like a brilliant idea.the only problem is,they're trying to sell it to five hundred individual people were money and share issuse can be made to disappear.unlike trying to sell it to one big investor who's got his head screwed on proper in these matters.

Well they should sell it all. The Chairman doesnt want it, he has no money, the business is losing money, its finding someone to buy it that is the problem

£500k, whilst a large amount to an individual, isnt a huge amount to a business, and it seems there are real structural problems with Wakefield that means a loan is out of the question.

Its strange because surely the sale of these shares will only make it more difficult to sell the business as a whole, so it looks as if all other avenues have been exhausted and the medium to long term future is very very dark. But there is no reason to expect the immediate future is a real issue.

One of the big problems Wakefield have, perversely, is that they own a huge asset in Belle Vue. Which you would expect would, if sold, cover the majority if not all of debts, which prevents a pre-pack ala Crusaders

But if all is to be believed they have already had a large proportion of the sale of BV paid to them , basically Wakey are knackered

i can only go off reading these boards and it sounds like belle veiw is sold and it sounds like there is an outstanding payment of £350thou owed to wakefield and then thats it.

Belle Vue is sold subject to certain things happening. If the entire payment for that has been made to them by whichever development wanted it. Then that developer is mental so i would doubt it is that simple

i would also suggest that £500k is an awful lot of money to most businesses,

It is if you could essentially get the club for a tenth of that in 12 months time

I believe they got half up front, with half to be paid when they leave belle view iirc.

It would be as a loss or an additional outlay for a company of Wakefield's size.

But if this is what is being asked for, then it is disgusting and shameful for the BOD of Wakefield to attempt and for the RFL to allow. It would be nothing more than the owners of Wakefield asking the fans to pay off part of the debts of a company they know is pretty much insolvent.

The best case scenario is that Wakefield are using this offering to help cash flow issue's future debts and some immediate debts. If there is any point to it, then at the end of this season Wakefield will have made a profit (if we include the £500k in the P+L this season) and have lower debts for next year. Worst acceptable case is Wakefield break even this year and have a lower debts for next years (and as such lower repayments and a more sustainable business model)

If Wakefield lose money this year with this investment, and havent paid off some outstanding debt and restructured their business model then the whole effort is pointless and a waste of money for the people putting it in.

I thought there were sport England conditions on having somewhere else for Wakefield to play before the stadium could be demolished?

I think thats correct, and they have a clause in the contract that they can stay there till they sort a new home, so if they did drop down they would at least have a home, and a chance to get newmarket sorted for the 2015 franchises.

whats P+L ?

I don't think you are far off the mark here, I am sure somebody will be on that knows a bit more, but as debts go they are negligable, Walkers gift is now a loan in view of the posibilities of going into administration which as one of the biggest creditors gives him a bigger say than most. I think a number of factors are causing our downfall, the dire rugby we played at the latter half of the season put fans off, coupled with the plans getting called in, our poor recruitment as well, all this and other things has resulted in a dismal response for ST which I'm sure you are well aware of is essential to the day to day running costs of a club in the off season, as for the tax bill nobody seems to have a clue if there is or isnt one, or if they do they are not saying, the likelyhood being that once everything has died down it will rear it ugly head and once again put us in the headlines for the wrong reasons, its the way our BoD seem to operate.

Profit and loss , doesnt mea a great deal in reality as they can be messed about with , as in Widnes's case

thanks.

A week or so ago I asked for the informed wakey fans to address 2 simple questions. One was about wakey seeking advances from RFL/SLE and the other about wakey not settling debts with other sl clubs. None of the wakey experts seemed able to answer. In the last week we are told they sought a £350K 'loan' from the RFL and danny Lockwood reports that wakey are dreadful, unreliable payers of their debts. Imagine my surprise! The striking thing about the Lockwood article is that wakey have chosen fiddle and faff around with payments to a dedicated rugby weekly paper. These people are either chronically stupid and /or absolutely desperate. If wakey will treat a rugby paper in this way...who would they not mess around? If wakey wil treat a supplier (who has wages to pay and bills to pay) such as RLW like s**t over a few hundred pounds why would anyone be mug enough to put £1000 in? And the change from this: www.wakefieldwildcats.co.uk/2010 ... -now-open/ to this: www.wakefieldwildcats.co.uk/2011 ... -to-close/ would be hilarious if it were not so tragic. Once again the notion of handing over £1K is beyond belief.

A week or so ago I asked for the informed wakey fans to address 2 simple questions. One was about wakey seeking advances from RFL/SLE and the other about wakey not settling debts with other sl clubs. None of the wakey experts seemed able to answer. In the last week we are told they sought a £350K 'loan' from the RFL and danny Lockwood reports that wakey are dreadful, unreliable payers of their debts. Imagine my surprise! The striking thing about the Lockwood article is that wakey have chosen fiddle and faff around with payments to a dedicated rugby weekly paper. These people are either chronically stupid and /or absolutely desperate. If wakey will treat a rugby paper in this way...who would they not mess around? If wakey wil treat a supplier (who has wages to pay and bills to pay) such as RLW like s**t over a few hundred pounds why would anyone be mug enough to put £1000 in? And the change from this: www.wakefieldwildcats.co.uk/2010 ... -now-open/ to this: www.wakefieldwildcats.co.uk/2011 ... -to-close/ would be hilarious if it were not so tragic. Once again the notion of handing over £1K is beyond belief.

[url=http://www.redpassion.co.uk/forums/wrexham/68490-rugby-football-league-charge-racecourse-ground.htmlIt Doesn't Appear As Though The RFL Trust Crusaders To Honour Their Debts Either[/url

No, what it effectively says is that the RFL have loaned Crusaders £700k with proper security - just as we would have to do when we want a loan. Perhaps the reason that Wakey can't get any money off the RFL is that they haven't anything to secure a loan with.