The only person to emerge with any credit whatsoever from the whole sorry mess is John Dixon.Not only did he have to use players in National League 2,National League 1 and then Super league but he overcame health issues while in Wales and now we learn he is/was owed 30k.
An absolute gentleman.

Best wishes to the genuine Wakefield supporters.

merci.

always a hard thing to do

your happy now are ya ?.

The curusaders paid £16,000 to buy the club from the administrators.

When they went into administration the debts were £2,048,504 including the following 3 unsecured creditors :-

The RFL £701,425

Taxman £440,353

Staff Pension Fund £424,352

Other debts were:-

Brewery Field Ltd £61,000

Kukri Sportwear £41,041

John Dixon £30,000

It is thought the owners have assumed responsibility for the majority of the Rugby league related debts of the former company.



[uSource: League Express[/u

Staff Pension Fund £424,352

That is a truly shocking amount :yikes: so is the rest tbh, 30k to Dixon how on earth has that mounted up? Circa 3mill in what 5years. Crazy. Tb will be happy he has proof for RFL supporting expansion clubs mind you!

If the RFL were hell-bent on bailing out Crusaders come what may, they would have just written off the £700k. It was unsecured anyway. Instead they've now got it secured against the Racecourse Ground and being paid back in regular instalments. Seems like good business TBH.

But if Wrexham fans manage to get stadium transfer to Wrexham Village blocked they have / had nothing?

I'll bet a lot of clubs are similar or even worse situations, but there is little or no chance of finding the truth!!!

Doesn't matter. The mortgage is in the name of Wrexham FC who already own the ground, and Wrexham Village own Wrexham FC. It's perfectly legal, watertight, and already lodged with Companies House. What the fans are trying to block only affects whether Wrexham FC remain owners or become tenants. It has no effect on the deal with the RFL whatsoever.

So the new club are already £700k in debt before they're even a month old. Bodes well......

How much does it cost Leigh to rent the stadium given you feel £150k is worthy of comment and given that the asset is owned by the group that own both the RL & FC do you still maintain the asset cannot be used as security for the loan?

With regards to Moss and Roberts the club appears much more professionally run than in 09 whether that says more about Samuels or them being worse I wouldn't know, the difference is that this year all issues will lie at their door with no-one else to blame.

Wrexham Village own Wrexham FC who own ground but Wrexham FC is up for sale. If ownership doesn't cone under Wrexham Village LTD it would be lost with any sale. So Wrexham Village can't keep stadium & sell Football club in the scenario as mentioned!

Wakefield has put up a FAQ for the share scheme: www.wakefieldwildcats.co.uk/2011 ... questions/ Quote What will my money be spent on? The money will be used to allow the club to continue to trade within its expected cash flow for the foreseeable future. One of the primary purposes for the majority of this money is to settle an outstanding debt with HMRC.'" Yet only 3 months ago they announced this HMRC debt was cleared: www.wakefieldwildcats.co.uk/2010 ... -revealed/ Am I missing something here? Is this an additional debt or did the club lie to their fans about the debt being paid to create a 'feel good factor' and sell more Season Tickets?

Wakefield has put up a FAQ for the share scheme: www.wakefieldwildcats.co.uk/2011 ... questions/ Quote What will my money be spent on? The money will be used to allow the club to continue to trade within its expected cash flow for the foreseeable future. One of the primary purposes for the majority of this money is to settle an outstanding debt with HMRC.'" Yet only 3 months ago they announced this HMRC debt was cleared: www.wakefieldwildcats.co.uk/2010 ... -revealed/ Am I missing something here? Is this an additional debt or did the club lie to their fans about the debt being paid to create a 'feel good factor' and sell more Season Tickets?

This is EASY to solve

Get Muldaur & Scully to investigate.

Job done!!!

Unlikely.

I believe it was paid by Sir Rodney Walker but this has turned out to be a loan.It appears he expected to be reimbursed once the new stadium got the go-ahead but obviously this delay has complicated matters.
It always impresses me how much of their own money these ever so rich individuals put into sports clubs while those with considrably lesser finances put in a massive percentage of their disposable cash.

Still it's mildly amusing to learn about the debts amassed in North Wales and the Wrexham area by the rich individuals taking Crusaders in and out of administration.Equally amusing are the gullible people who believe these ever so rich individuals.

I think the Wakefield fans are waiting to establish the provenance of the latest debt to HMRC given as they have recently made last minute payments to stave off winding-up petitions

Thankfully you understood my point.

Quote ="Wadski"Wakefield has put up a FAQ for the share scheme: www.wakefieldwildcats.co.uk/2011 ... questions/ Yet only 3 months ago they announced this HMRC debt was cleared: www.wakefieldwildcats.co.uk/2010 ... -revealed/ Am I missing something here? Is this an additional debt or did the club lie to their fans about the debt being paid to create a 'feel good factor' and sell more Season Tickets?'" Good grief, will this club ever get a grip with their finances. How many times have the taxman chased them for money? It is no wonder the RFL refused them a loan.

Quote ="Wadski"Wakefield has put up a FAQ for the share scheme: www.wakefieldwildcats.co.uk/2011 ... questions/ Yet only 3 months ago they announced this HMRC debt was cleared: www.wakefieldwildcats.co.uk/2010 ... -revealed/ Am I missing something here? Is this an additional debt or did the club lie to their fans about the debt being paid to create a 'feel good factor' and sell more Season Tickets?'" Good grief, will this club ever get a grip with their finances. How many times have the taxman chased them for money? It is no wonder the RFL refused them a loan.

Eh?

[iIn order to obtain a loan you must first prove that you don't need it.[/i

Could anyone summarise the situation for me as i cannot be parched looking through all the drivel on here




( or maybe someone could just copy and paste the two or three intelligent and knowledgable posts that are probably on here)

Thats all so true, just for the record ask your chairman how much debt you have, then come back and ask about gettin a grip.

Whether or not Wrexham Village sell Wrexham FC, the mortgage is valid. It even names two of the directors of Wrexham Village just to be extra sure. There's no way the RFL can lose out on the deal regardless of what goes on with the sale or otherwise of the soccer club.

The ground is mortgaged to the RFL, and a change of ownership won't alter that.

As I understand it, the debt to HMRC was covered under a staged payments arrangement which HMRC have suddenly decided to withdraw. Hence the entire debt is now due to be paid off in one hit rather than being spread out over a period of time. Clearly that has major cash flow implications.

Quote ="Wadski"Wakefield has put up a FAQ for the share scheme: www.wakefieldwildcats.co.uk/2011 ... questions/ Yet only 3 months ago they announced this HMRC debt was cleared: www.wakefieldwildcats.co.uk/2010 ... -revealed/ Am I missing something here? Is this an additional debt or did the club lie to their fans about the debt being paid to create a 'feel good factor' and sell more Season Tickets?'" AFAIK the tax bill last year was historic, ie the taxman going through the old paper work and finding additional taxable items. The current threat is HMRC withdrawing an agreed option to pay last years tax bill in installments. This action is thought to be attributed to RFL's compliance with the Crusaders in their administration, an act which lost HMRC a fair whack of money.

Quote ="Wadski"Wakefield has put up a FAQ for the share scheme: www.wakefieldwildcats.co.uk/2011 ... questions/ Yet only 3 months ago they announced this HMRC debt was cleared: www.wakefieldwildcats.co.uk/2010 ... -revealed/ Am I missing something here? Is this an additional debt or did the club lie to their fans about the debt being paid to create a 'feel good factor' and sell more Season Tickets?'" AFAIK the tax bill last year was historic, ie the taxman going through the old paper work and finding additional taxable items. The current threat is HMRC withdrawing an agreed option to pay last years tax bill in installments. This action is thought to be attributed to RFL's compliance with the Crusaders in their administration, an act which lost HMRC a fair whack of money.