Dont forget we still have the image rights bill to pay as well, once the outcome of the Leeds test case is known.

Sorry but I am still waiting for a logical reason not to go into admin (the franchise application imo is not one, cos they need at least one club to go to make way for Widnes, and that will be us)

I came out of Tuesday's meeting thinking OK I'll stump up £1000 to help keep the club alive. The more I think about it the more I wonder if my £1000 might be more use after we go bust?
Undecided!

it would be easy to say the left hand does not know what the right hand is up to, in our case it appears the left hand does not know the right hand even exists or perhaps does not want to. They are wanting 500 idiots to come across with a grand apiece and I choose the term idiots' carefully because that is what they would be if they buy into this plea from the board. Without them at least having the decency to explain the urgent need for the cash, they just shows how much contempt the board hold the fans in when asking them to stump up by using emotional blackmail instead of telling the truth outright and drip feeding us little bits by its lieutenants on here, perhaps they ought to respect the fans intelligence instead of insulting it they might have found them more responsive to the situation.

Dont forget the newspaper and milk bill

Don't worry about the Image Rights bill, if Leeds lose the test case with the sums involved all SL Clubs will be going into administration.

I fear that we will end up in administration and yes there are logical reasons to go into administration but we need to look at every avenue open to us - if that leads to administration so be it but we can't give up yet.

Wasn't it mentioned by someone at Tuedays meeting that the RFL have this in mind if the test case fails?

If the test case fails we are in one of the better positions out of all the SL clubs.

Some would owe well into 7 figures ours is nothing like that.

Is it not the case that if the club goes into administration then HMRC could force the club into liquidation ?

Yep I know. Someone said that there would be a planned mass move to liquidation and rebirth to allow all clubs to get rid of the tax burden.

Apologies to you Clan if you thought my post was aimed at you, I can assure you it was'nt, I am sure that you were in the dark as much as what most of us on here was, its probably that you are more alert than me and realised before the penny dropped for me

Slugger, the investors of the £500k would decide whether they felt the club would be safe with the £500k invested. If they felt it still was in the clag then they would not invest the money, let the club go into Administration and then posibbly buy it with the £500k and have working capital to spare.

The share offer is not to secure the existing Board, its to secure the future of Wakefield Trinity and that future may well involve Administration or not and it may be a future in SL or the Championship.

I will be investing £1,000 and there isn't a tighter git than me but before the cash is converted into shares I and any other investor will be looking for some certainty that it will secure the club. If it isnt then I'm sure we will allow it to go into Administration.

Yes.

One club not far from us is alleged to owe £2m if the test case fails and I'm sure there will be others of equal magnitude. Apparantly ours is tiny in comparison but we never have had much of an image.

Not my field of expertise but don't you have to have some assets to liquidate in order to pay creditors.

Perhaps someone with knowledge of Insolvency could answer this.

If this really is a cunning plan by the RFL to get round the tax issue, then they're far more stupid than the morons I thought they were.

We still do. The unpaid remainder of the money for the ground (asuming this hasn't already been accounted for).

I would not be surprised if this is what they did. Remember, "Never Underestimate the Predictability of Stupidity"

Al Capone thought he could avoid paying tax and look what happened to him.

Seriously the game whould lose what little credibility it still is hanging on to.

I'm not sure how the govenrment would view an organised en masse move into admin in order to avoid paying 10s of millions in back taxes. I'm pretty sure that Sport England etc.. would be reviewing their backing of the sport.

Well finally we can agree on something, the RFL have cocked this sport right up.

Mind you I thought that Sir Rod had paid your tax bill I remember a statement from the clubs saying it had been paid and that the future was bright.

I was under the impression that this was for the backdated image rights, turns out I was incorrect although I’ve been informed it was still historic debt. Perhaps this bill is for last year’s tax, and apparently the agreement the club had with HMRC to pay in instalments has been ripped up and they are now demanding payment in full.

As they are with every other club in the game that had such pay plan agreements, the RFLs actions has undermined the stability of many clubs with this irresponsible act.

If the actions of the RFL in propping up the Wrexham club now mean that we potentially face going out of existence, rather than 'merely' into administration, then the share issue is a pretty straightforward choice, and has nothing to do with a SL future or a Championship future, just a future full stop.

Putting aside my view about the fact we should not have yet more unpaid tax bills, what I don't understand is that the HMRC are running the risk of getting much less than they are owed by this act. They had agreed a deal with the club on a payment schedule and should not renege on that agreement because of the RFL's shennigans.

Is it purely the tax man that has put us in this dire position or are there other things as well. This is what the club need to be open about

Well if that is the case really the club still only have themselves to blame for being so in debt to the tax man in the first place, it is always going to be a risky game owing that much money and there is always a chance they will demand it back.

Also the RFL could not really stop the Crusaders going into administration and I would have thought it is the fact that they did not the RFL letting them that has down graded the credit rating of RL teams. I suppose the other option would be for the RL to have paid their debts for them, and Im sure every one would have loved that. The 700,000 grand loan that every one is moaning about is a result of them stopping them going into administration the first time.

The RFL have been fools in giving special treatment to expansion teams, but this started long ago with no relegation and as many imports as you like.

No the clubs have undermined themselves buy being in debt, and if it effects every one why could they all not have spent within their means.