Re: Would the club go to a community Stadium : Sun Jan 06, 2013 4:50 pm  

Wakefield have never been in the sort of debt (director or otherwise) that Cas are in now.

When we went into administration our level of debt was well below the £2.5M you owe the Fultons.
Debts is debt, it doesn't matter if he's been nice enough to prop you up, you'll still have to pay back one day. He may have kept you afloat but the debt is just one reason why a remortgage of WR wouldn't be on the cards. There's a huge line waiting for you to cash your asset. Carlsberg too.

Not sticking up for Richardson, or whitewashing our historic problems, just stating a fact about financial mismanagement.

Re: Would the club go to a community Stadium : Sun Jan 06, 2013 5:53 pm  

your talking daft, if we have to share at NM,whether we all like it or not, and we sell up we have no debt, and the club would be in the black, Waky went in to admin, so the debts out wade the assets, so your in the red, if i have £100 in the bank & spent £90, i would still be in the black, but if i had £100 & spent £110, i would be in the red & thats why your comment is wrong Cas still have the assets to pay their debt But wakydidn't,... and im not having a go at Waky, it's TWF2 who is having a dig at Cas

Re: Would the club go to a community Stadium : Sun Jan 06, 2013 6:03 pm  

You'd be in the black I have no doubt, not by more than £1M IMO.
There are debts to pay before the monies yours, all of which are growing year on year, 350K was the figure Al stated a few months back. Then there are other companies to pay, taxes ect.
The value of WR will have taken a serious hit over the past few years & won't be the golden egg is once was.
Let's say you get £5M, you'll be sitting pretty with just below £1M in the black, not a position to turn your nose up, but not the multi-millions some may expect.

I'm not having a dig at Cas, just stating a fact. When we went into admin it was for much, much less than your outstanding debts. For the reason we didn't have anymore resources (ground/owners money) through our own (or teds) mismanagement. But the fact remains the debt was much less than £1M & Ted's dream went pop.

CT have been propped up by Fultons money, 2.5M+ & still a viable & runnning business, but is that sustainable in the long term? (On a smaller scale) Is that any different from The Giants & Mr Davey? Which we all accept is unsustainable. - On that note well done with the membership scheme, good work Ferris & Foz!
But what about when Fulton wants his money back in some way. Either from the ground sale or repayment, either will cost you in the long run.

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Re: Would the club go to a community Stadium : Sun Jan 06, 2013 6:26 pm  

I'm not sure why you are banging on about this Trin.

Effectively you are saying we went into admin because we were in debt to an amount that was more than we can pay.
Yet you seem to be implying Cas are worse off because they'll be in the black but but only by a million pounds, as if that is worse.

Don't see your point at all.

It is true that having debts you can manage is better than having a small amount of cash you can't but I'm not sure this is the case here. Cas have a chance to mess this up if they manage things badly but they haven't quite yet.

We did manage things badly but luckily Mr Glover has steadied the ship. We are in no position to preach about good management yet though.

Re: Would the club go to a community Stadium : Sun Jan 06, 2013 6:30 pm  

i under stand what your saying but if we sell were debt free, even if it's a few quid, and like you said im not sticking up for bad management because it's happened on both sides, we are two different teams & have very hot rivalry, if GH comes of ?? it would be great if NM comes of ?? it would be great, but if their is only one and both clubs had to share, it would not be the end of the world for me, their would have to be compromise on both sides, both clubs would be debt free, and both clubs could take off, some fans would raver see both clubs suffer before share, but why at the end of the day the fans would only see each other twice a year, but thats my opinion and it is not shared by every one, i would rather see two top six west Yorkshire teams rather than two scraping to make the play offs

Re: Would the club go to a community Stadium : Sun Jan 06, 2013 9:07 pm  

TrinitarianWF2 wrote:

Wakefield have never been in the sort of debt (director or otherwise) that Cas are in now.

When we went into administration our level of debt was well below the £2.5M you owe the Fultons.
Debts is debt, it doesn't matter if he's been nice enough to prop you up, you'll still have to pay back one day. He may have kept you afloat but the debt is just one reason why a remortgage of WR wouldn't be on the cards. There's a huge line waiting for you to cash your asset. Carlsberg too.

Not sticking up for Richardson, or whitewashing our historic problems, just stating a fact about financial mismanagement.

You've missed the bit about WTW making a 1.2 million loss for 2011 in the first year under new ownership.
Correct debt is debt and I have no doubt Mr Glover (does anyone on here call him Andrew ?) is nice enough to prop you up also. You will have to pay this back one day too I'm sure.

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Re: Would the club go to a community Stadium : Mon Jan 07, 2013 7:44 am  

frank5613 wrote:

i under stand what your saying but if we sell were debt free, even if it's a few quid, and like you said im not sticking up for bad management because it's happened on both sides, we are two different teams & have very hot rivalry, if GH comes of ?? it would be great if NM comes of ?? it would be great, but if their is only one and both clubs had to share, it would not be the end of the world for me, their would have to be compromise on both sides, both clubs would be debt free, and both clubs could take off, some fans would raver see both clubs suffer before share, but why at the end of the day the fans would only see each other twice a year, but thats my opinion and it is not shared by every one, i would rather see two top six west Yorkshire teams rather than two scraping to make the play offs

Actually that is a good point. Wakefield will not be debt free if we share the stadium.
In fact I can't see any advantage for Wakefield Trinity to share.

Any saved costs would probably not be passed on but there wouldn't be much anyway.
Cas would benefit greatly as they'd keep any money from sale of WR.

Re: Would the club go to a community Stadium : Mon Jan 07, 2013 2:56 pm  

Dont get me wrong i would rather keep both clubs as totally separate business you in your ground, an us i our ground, but if any thing happens it wont be down to us, we can all kick and scream and refuse to follow the club, but it will all be up to the people who run the clubs, on both sides their are hardened fans with their views but like i say their is no new stadiums built hopefully you will get sorted and we will get sorted, but i see no future for any SL, club what goes into the CH,ship,

Re: Would the club go to a community Stadium : Mon Jan 07, 2013 3:18 pm  

Tigerade wrote:

You've missed the bit about WTW making a 1.2 million loss for 2011 in the first year under new ownership.
Correct debt is debt and I have no doubt Mr Glover (does anyone on here call him Andrew ?) is nice enough to prop you up also. You will have to pay this back one day too I'm sure.

To be fair that figure also includes substantial payments to certain creditors of the old regime, upholding ST's in the first year and potentially construction costs of the new roofs.

Re: Would the club go to a community Stadium : Mon Jan 07, 2013 3:51 pm  

Tigerade wrote:

You've missed the bit about WTW making a 1.2 million loss for 2011 in the first year under new ownership.
Correct debt is debt and I have no doubt Mr Glover (does anyone on here call him Andrew ?) is nice enough to prop you up also. You will have to pay this back one day too I'm sure.

plus is their a loan from WYW