Just a couple of questions, firstly, were the shareholders aware before last night that BV had been sold at the end of 2007?

Secondly, the 1.7M received seems to have filled a rather large hole in the accounts - 1.2M? Does this mean that all the proceeds for the sale of BV can be used to finance the running of the club, or, is it classed as Capital, only to be used towards the financing of the new ground?

As far as I am aware shareholders did not know the ground was sold but they had given a mandate to sell the ground so must have known it was to happen.

Some money has gone to pay off all long term debts, but there was some mention of roll over capital gains tax relief so I suppose some money will go to the club infrastructure

Nope. If you don't tick that box you'll be an 8 out of 10 club, because you're within a 15 mile radius of your nearest rival.

The developer from York whatsit showed a plan of the propsed site and a plan of how the stadium and other facilities would look on the site. The main push was on achieving planning permission in time to have the stadium ready for 2012.

What was the rough plan of the stadium like in terms of style? What are the other facilities?

Was there any mention as to the size of stadium, when works may start etc?

Does this mean that we are constantly running at a loss and unless things improve we will continue to do so but without any fixed assets to sell in the future?

I understand that the average loss for a SL club is £ 350,000.

Over our time in SL we have always run at considerably less than the average loss. I seem to remember from previous share holders meetings that it is only over the last three years that we have made a loss.

Is that 350k per annum?

How does this gap get filled as I know that a constant loss is not good to keep loans going with a bank they want to see an increse in profit not a constant loss

I am not party to the clubs accounts, just asking the question regarding whether the windfall from selling BV could be used to clear the clubs debts.

I’m sure many clubs have unhealthy balance sheets, some much worse than ours, however, as you alluded to, the use of capital expenditure, which I would have thought the proceeds of BV would be, for propping up the day to day running of the club, would be very foolish. By paying off our creditors would save the club a fair few quid, but once the pantry’s empty.

However without seeing the Balance sheet, I couldn’t say, it may just be that it looks better on paper and the cash windfall has been earmarked for the new ground. I don’t know the score regarding funding the Newmarket development, nor, how much W.T.R.L.F.C. are planning / expected to be ‘putting in’.

If the amount is minimal, then hey-ho it’s all good, however, if the club are expected to put in the total sale price of BV into the pot…………..

BTW we are not an average club

.

Meaning?

I would hope that we have not used all the extra cash in that way, if you have structured debt I would personaly keep it that way rather than paying it off, I would prefer to pay an interest premium to keep it open (especially hoping it was a variable not fixed rate) as obtaining credit would be alot more difficult as it was a few years ago

I agree with your theory on debt management, however I’m neither a shareholder nor the clubs accountant, you are asking me to answer the same questions I’ve asked, but ultimately the BOD will decide and we will have to go along with it.

Regarding the ‘average club’ bit, I have never viewed Wakefield Trinity as an average club - HTH.

Buy some shares and maybe you would have seen them already. Seriously its early days with plans at this stage so we don't need to get carried away, we can wait untill we have something
concrete before we use it has a marketing tool.

I had no idea, i would imagine we can use all the money to fund the team/club.

your a damn sight more optimistic than me

And so are the other 6.77 billion inhabitants on this lovely planet we live on.

I think i will mate.

I will have some shares too

So will you describe it? or at least tell me when if ever the common fan will get to see any designs.

he'll be in bed getting his beauty sleep

I think you may have hit the nail on the head with this comment.

I'm a little lost!

In 2005ish we came out of the CVA and were supposedly debt free!

IIRC we then announced that we had made a small profit for the next two consecutive years.

Are we now saying that we have lost £1,2 Million over the last two/three years?

Also can someone explain the general design of the new stadium and site?

Shoot them .......................

Look I've just read my above post and I admit it was pretty heavy for me instead of my usual one liners.

So to try and difuse the situation with you all thinking about the above post. I thought I may try a quick one liner on you.

First thing in my head was John Wayne and a phrase "Shoot them Indians"

Absolute truth no word of a...

And that was my One Liner but I can't post it cos I'd be locked up for lesbianism or something.

p.s. I love this bold thang

Remember reading that after 2006 when when kear had his first full season in charge we were expecting to make a loss due to having a large squad and also other projects. we were also expecting to make a loss for the year after aswell.

Cant see it adding up to £1.2 million tho

I think we had a CVA for 3.5 years from October 2000. So that would take us to around March / April 2004. These accounts were for the period to 31st Dec 2007 (I think), therefore we had over 3.5 years trading in that time. During that period we knowingly invested more into the playing and community aspects of the club - otherwise the business would not have been anywhere near the required standard for a franchise. All of this was done on the back of the fact that we had an asset value in BV which has now been converted into (partly) hard cash - and yes, I think we were running at around £300k+ down per annum for a while, so that would account for the defecit.

HTH