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Club Coach | 2990 | No Team Selected |
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May 2005 | 20 years | |
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| Quote Sandal Cat="Sandal Cat"To try and answer the questions on debts and why investors pulled out based on what I heard last night. If I heard wrong I'm sure someone will correct me.
One of the investors after spending weeks on due dilligence pulled out but was later found to be a former bankrupt Director who was unable to hod office in any event.
The over investor was a multi-millionaire (worth £150m I seem to recall). He examined the books and the Clubs debts did not frighten him off, indeed the debt was "small potatoes" to him. He was keen to take over and the Club requested that the RFL see him so as to see the calibre of investor who was looking to take over the Club. Initially the RFL refused to meet him stating that the process had already started - what process, franchise applications are not to be submitted until March unless they were referring to the process with NL Clubs applications.
They were however persuaded to meet with the Investor and following the meeting with the RFL/SL he said that the investment no longer fitted in with his current portfolio/plans.
This is what I find particularly worrying. He was keen (having seen the books) until he met with the RFL/SL. What did they say to him that made him change his mind ? Did they say anything about who would be getting franchises in 2012 ? Did they say anything at all ? Did he just change his mind ? Who knows ?
If I've got this wrong then please put me straight.'"
Sorry,but that sentence says everything that is wrong and has been wrong with Wakefield for years.
It would take all of 30 seconds to establish the credentials of a director.
Obviously they have not learned from past mistakes when checking the credentials of potential investors.
It really is no wonder we are in this sad,sad state!!!!!!!!!!!
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Rank | Posts | Team |
Player Coach | 4291 | No Team Selected |
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Aug 2006 | 19 years | |
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| Quote rugbyball="rugbyball"I have a serious question. As it seems likely that the club are going to move to Barnsley and indeed this is what was voted for last night, why does the club not cash in on Belle vue now? As you know I am not a believer in Newmarket but other seem confident and what ever the future holds it would seem that at some point it will be away from Belle vue. So why not got to Barnsley early releasing the money for Belle vue or at the very least borrow the money that is needed against the money owed on Belle vue?'"
I approached ted after the meeting and suggested he renegotiate the sale of belle vue at a slightly cheaper price if we could have a cash advance from the buyer of 350,000. Got a negative response and was told the money wouldn't come through in time anyway. Seems a logical solution to me.
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Rank | Posts | Team |
Club Coach | 10926 | No Team Selected |
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Jun 2005 | 20 years | |
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| Quote TURFEDOUT="TURFEDOUT"Sorry,but that sentence says everything that is wrong and has been wrong with Wakefield for years.
It would take all of 30 seconds to establish the credentials of a director.
Obviously they have not learned from past mistakes when checking the credentials of potential investors.
It really is no wonder we are in this sad,sad state!!!!!!!!!!!'"
The guy in question is our major sponsor and has been seen by many over the years as the future Messiah. He has clearly found a way around the rules - but I would be extremely worried if he were to gain control of our club - his trading history is not good, although he is currently doing well.
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Player Coach | 15521 | No Team Selected |
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Mar 2010 | 15 years | |
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May 2020 | May 2020 | LINK |
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| Quote TRB="TRB"but I would be extremely worried if he were to gain control of our club - his trading history is not good, although he is currently doing well.'"
More worried than you are now?
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Club Coach | 2990 | No Team Selected |
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May 2005 | 20 years | |
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| Quote TRB="TRB"The guy in question is our major sponsor and has been seen by many over the years as the future Messiah. He has clearly found a way around the rules - but I would be extremely worried if he were to gain control of our club - his trading history is not good, although he is currently doing well.'"
If we are talking about the same person he was banned in 2004 until 2018.
That didnt take long to establish did it.
Its total incompetence.
I had dealings(securing some of my employers assets) with the club when it went into CVA and was totally dumbfounded then at how incompetent the club were,in particualr with regards due dilligence.It was one of the most unprofessionally operated businesses i have ever dealt with.
Nothing has changed 10 years on.
Certain board members should hang their heads in shame at the way they have run Wakefield.
Some people will back Ted whatever,im afraid for me his legacy for Wakefield will be that years of mismangement of the club with him in control has ultimately led/will lead to us ceasing to exist!!!!!
It is a sad,sad,soul destroying mess he has got us into.
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Club Coach | 4809 | No Team Selected |
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Jun 2005 | 20 years | |
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Mar 2016 | Nov 2015 | LINK |
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| All this talk of 'sugar daddies' - most sporting clubs have one, it just seems that ours is skint. The only thing that separates Davy from Ted is Davy still has cash in the bank.
As for making people redundant when/if a new BoD took over, if the club desperately needs this £500k, why haven't cuts been made within the club?
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Club Coach | 10926 | No Team Selected |
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Jun 2005 | 20 years | |
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| Quote t-r-i-n-i-t-y="t-r-i-n-i-t-y"All this talk of 'sugar daddies' - most sporting clubs have one, it just seems that ours is skint. The only thing that separates Davy from Ted is Davy still has cash in the bank.
=#BF0040As for making people redundant when/if a new BoD took over, if the club desperately needs this £500k, why haven't cuts been made within the club? '"
You must have noticed all the personel changes within the playing staff!
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Club Coach | 4809 | No Team Selected |
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| Quote TRB="TRB"You must have noticed all the personel changes within the playing staff!'"
Of course, but off-field as well?
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Club Coach | 5507 | No Team Selected |
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| Quote TRB="TRB"You must have noticed all the personel changes within the playing staff!'"
On that note are any other departures likely to ease the wage bill and raise a bit of quick cash? i'm thinking people like Murphy, Ferguson And Obst who probably have a bit of sale value?
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Club Coach | 10926 | No Team Selected |
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| Quote Theboyem="Theboyem"On that note are any other departures likely to ease the wage bill and raise a bit of quick cash? i'm thinking people like Murphy, Ferguson And Obst who probably have a bit of sale value?'"
Not if we find the 500!
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Player Coach | 4163 | No Team Selected |
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Feb 2009 | 16 years | |
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| Quote TRB="TRB"Not if we find the 500!'"
It looks so much better without the k at the end!
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Club Coach | 5507 | No Team Selected |
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| Quote TRB="TRB"Not if we find the 500!'"
So if/when we don't, yes then!
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Club Coach | 1196 | No Team Selected |
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| Firstly, I come in peace. I'm just trying to understand how the club comes to be in such a mess. Where has the transfer money from brough and atkins gone? Added to this the money saved on their wages, the wages of tronc and newton (RIP). Added to that the reported £1.5 million recieved from the sale of belle vue. To still have an outstanding tax bill of £160,000+ and then asking the fans for £500,000. That seems like a monumental mismanagement of finances. How har this been allowed to occur? What were the rest of the BoD doing? All this would need to be answered for me before I could part with any money. Good luck
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International Chairman | 10601 | No Team Selected |
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Aug 2002 | 23 years | |
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| Quote steadygetyerboots-on="steadygetyerboots-on"Firstly, I come in peace. I'm just trying to understand how the club comes to be in such a mess. Where has the transfer money from brough and atkins gone? Added to this the money saved on their wages, the wages of tronc and newton (RIP). To still have an outstanding tax bill of £160,000+ and then asking the fans for £500,000. That seems like a monumental mismanagement of finances. How har this been allowed to occur? What were the rest of the BoD doing? All this would need to be answered for me before I could part with any money. Good luck'"
Trying to run a Super League club on Championship crowds and Season Ticket holder numbers would probably be the short answer.
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