Re: So what is the situation : Tue Jan 18, 2011 12:17 pm  

kinleycat wrote:

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.

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

[PopTart]

Re: So what is the situation : Tue Jan 18, 2011 12:26 pm  

altofts wildcat wrote:

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.

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.

Re: So what is the situation : Tue Jan 18, 2011 12:31 pm  

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?

TrinnyFan wrote:

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.

[PopTart]

Re: So what is the situation : Tue Jan 18, 2011 12:32 pm  

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.

Re: So what is the situation : Tue Jan 18, 2011 1:12 pm  

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.

Re: So what is the situation : Tue Jan 18, 2011 1:15 pm  

-Tracie- wrote:

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.

Re: So what is the situation : Tue Jan 18, 2011 1:22 pm  

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.

Re: So what is the situation : Tue Jan 18, 2011 2:08 pm  

Rotherham Fev Fan wrote:

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

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.

Re: So what is the situation : Tue Jan 18, 2011 2:20 pm  

PopTart wrote:

Also, when people talk about how bad the BOD are and how a supporter led board would be preferrable I only half agree.

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.

Re: So what is the situation : Tue Jan 18, 2011 2:39 pm  

bren2k wrote:

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