The BOD want the shareholders to provide 500K and they will move over.

What do we owe then? We heard the club should have got 350k at the point NM was approved, (sounds a gamble to me and we lost for the early part although it may well come to fruition).
We owe the tax man how much? is it 350K or is that a guess by me and then the 150k on top for what general running of the club? If the money is raised what are the current liabilities?

What if the SL licence for the future is revoked where does that leave any investors.

What happens if the club is wound up? does it mean this season on -4 like Crus if a buyer comes along? What would be the plan then in preparation for loss of license.

I am fairly sure the club would rise from the ashes but at the moment there are many unanswered questions to slash the cash, transparency is needed and needed fast, this is heart and head stuff but for once i am using my head and sitting back at the moment.

The shareholders,fans and interested buisness partners need to raise the £500K, if sufficient funds are raised, Ted and the board will resign enblock and the shareholders will elect a new board.If the money is not raised the club wil go into administration and the RFL will kick us out of Super league,ok they may kick us ut anyway but we can't afford to give them an excuse to get rid of us by going into administration.

Can somebody confirm when the RFL will announce who is to be awarded a franchise from 2012?

I believe the club coming up will be informed in July to give them time to prep/recruit etc.
The remaining licences (i.e. any team having a licenced revoked) will be announced at the end of the season at a date yet to be announced.

I was under the impression Widnes would be given the nod in March while the rest of the applicants would find out in July.

Yep this is correct.

The long term health of the club is the only concern.
1. We have no control over the actions of the RFL and SL, they will do what they will do.
2. If the long term future of the club is best secured by admin and a drop from SL, so be it.
3. Come what may, this should be the end of the Richardson era, either through a new investor coming in following admin (there are many rumours) or a supporter led alternative.
4. Unless a major backer joins the £500K "share issue" this is dead in the water.
Attend tonight if you can, I'm sure a lot more questions will be answered.

would you prefer the club to committ to it's SL fixtures but run a real risk that is a distinct possibility that it might not be able to see out the season, or even worse, go out of business soon after the season commences -

OR

take the hit now, close down Wakey Trinity Wildcats and re-form as Wakefield Trinity (2011) Ltd competing a full season in the championship and begin the long road back to recovery??

It hurts, but not impossible - HKR, Huddersfield being recent examples

There is no need for option 2, I am certain that should we go down, other investment is close at hand, if only for this season.

The main difference being that these two were able to play their way into SL fair and square whereas we would be relying on the RFL to let us back in which i believe is unlikely due to geographical reasons.

Don't be too sure.

If the club go into admin and there is no new owner in the wings.

Three directors of WTRLFC are also directors of a Company which appears not to be trading. The Company was incorporated Mid October 2009 - Just before the first Winding Up Order

There is nothing fair and square about how Huddersfield got to where they are now.
Cas and Hull KR got in fair and square and have done a good job since.

Something I am not sure about. If £500k was found and the board did resign enblock. Who are the the shareholders who will vote for the new board?

Will shareholders still include Ted etc, as resigning from your salaried position is not the same as giving up your shares.

If it still does include Ted 'et all' how would their voting rights compare to the rights of the £500k parties?

In summary could they vote themselves (or affiliates) back in?

Anyone know the mechanics of this?

Also, when people talk about how bad the BOD are and how a supporter led board would be preferrable I only half agree.
The BOD have proved that they are not capable.....not sure whether they are all poor but the decision makers certainly are.
BUT just using this forum as an example, I'm not sure I would want supporters leading the way either. How would we decide who was in charge? The loudest voices on here are a long way from being Sir Alan.
It is usually decided by the guy with the biggest wallet taking over.....that implies he knows how to run things......which has obviously been proved to be a flawed assumption recently.

I'd like to unedrstand how people think that would work.

Did I read somewhere on your board there's a supporters meeting soon?? Has that happened?

I'm not trolling - genuinley interested in the games itself and hope you guys will be ok.

It's tonight.

The supporters are having a meeting tonight (Tue 18th) to discuss the formation of a Supporters Trust.

It has to be pointed out that the ST discussions were well underway long long before the BoD went public with the current problems.

Tonights meeting has been brought forward because of the issues surrounding the club but would have been held at some point anyway.

with respect hull kr didnt fold we went into a cva and paid our debts off i think you are confusing us with hull f c who did fold and merged with gateshead to start a new company and club.

There is no suggestion, as far as I'm aware, that a supporter led board is the aim of the ST; the two things, as I understand it, weren't even linked, until circumstances forced those people planning the ST to come forward.

To the best of my knowledge, the ST would only be looking for representation on any new board - NOT to manage the whole operation. The only way they could do that would be raise 500k and buy Ted out, and that seems extremely unlikely.

Correct

Your CVA only paid off a tiny fraction of your debt with the rest being written off, leaving your creditors in the lurch. I don't think that's an option here.

Hull FC didn't fold, although we likely would have except for the merger. The old company wasn't wound up until after the merger, and the club itself continued with new ownership. Again, not an option here.

If you want to attend and you have a spare £1000, we'll send a car for you

You could send a car for me aswell if I were 100% confident that the money would save your club, but that's the problem, I'm not. I've followed this situation closely as I have quite a few friends who are Wakey fans and nothing has been said to inspire confidence in potential investors. It just seems like the money will be added to somebodys

pension fund. Good Luck anyway I hope things work out for you, I do think the best option would be to consolidate in the Championship but unfortunately the option of playing yourself back into Super League, as we did, is not open to you.
All the best.

Awww mate sorry just booked a week for Catalan in June



Hope to see updates tomorrow though and GOOD LUCK!!!

I believe any self-respecting RL fan will feel the same,whichever club is involved.