Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 6:48 am  

Kettykat wrote:

Our new incumbent is obviously an excellent business man running a hugely successful kitchen company , but imo would be foolish to not have Minards onboard in some capacity ,as he know the clubs dealings inside and out ,and running a successful RL club ,as we all hope it will be in the not too distant future is a far cry from a kitchen company I think we’ll all agree . Johns contacts in and around the game with prove invaluable I’m sure in the coming years .

Success?

What success exactly has the club had really, since John Minards came in at the end of 2018, besides the ground improvements

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 7:41 am  

Eastern Wildcat wrote:

Success?

What success exactly has the club had really, since John Minards came in at the end of 2018, besides the ground improvements

Those ground improvements could well be the difference in being a SL club and a Championship club after the IMG gradings take effect.
Our only on field "success" has been not getting relegated.

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 8:01 am  

wrencat1873 wrote:

Those ground improvements could well be the difference in being a SL club and a Championship club after the IMG gradings take effect.
Our only on field "success" has been not getting relegated.

But what have the Romans ever done for us?

[PopTart]

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 8:17 am  

wrencat1873 wrote:

Those ground improvements could well be the difference in being a SL club and a Championship club after the IMG gradings take effect.
Our only on field "success" has been not getting relegated.

After this year, the IMG score is more valuable than anything else at the club.
If we can get to a 15 it allows us to develop without fear of relegation. It allows us to plan for a longer term rather than only half a season at a time.

And Minards has taken us closer to this than anyone has ever done, including Carter.

Players will be more inclined to come to a club that isn't nailed on for relegation, doesn't have to train at a nother club's facilities and can put the heating on in winter.


Even if we were champions this year, without the ground development and the work with other partners behind the scenes, we'd have still been behind the Leigh and Featherstones and probably Toulouse and London.

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 8:37 am  

Eastern Wildcat wrote:

Success?

What success exactly has the club had really, since John Minards came in at the end of 2018, besides the ground improvements

You could argue that’s been the case though since we entered super league .
We’ve been battling relegation and financial incompetence ever since promotion . At least the appalling situation we found ourselves in with the ground has been brought under control…
John Minards would definitely be an asset to this club moving forward..

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 9:15 am  

this post, I just want to make clear this isn't a attack or on our any individual and I respect anyone who puts their hand up to be involved and support our club.

Having attended shareholders meetings it is abundantly clear that our overall indebtedness off Circe £4 million pounds plus this season estimated losses which sounds to be substantial can only be met by substantial funds been injected by either the present incumbents all new investment.

The rationale of money spent on the stadium balancing the indebtedness is totally wrong and is in fact the opposite stadiums need enormous amount of funds and money to keep updated and two operate so the argument of asset against liability is incorrect.

If my understanding of above is correct then the narrative coming from the club is not substantiated by the reality of the position where we find ourselves Reality is we don't know which division we will operate in next year we don't know the central funding amount which will be delivered to each club and the reality is the only way to meet the indebtedness east reduced costs, which means moving not from Super League into the championship that perhaps even lower Conclusion take over essential if we have a in our lifetimes want to see success at Wakefield Trinity.

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 9:30 am  

suportrclub wrote:

this post, I just want to make clear this isn't a attack or on our any individual and I respect anyone who puts their hand up to be involved and support our club.

Having attended shareholders meetings it is abundantly clear that our overall indebtedness off Circe £4 million pounds plus this season estimated losses which sounds to be substantial can only be met by substantial funds been injected by either the present incumbents all new investment.

The rationale of money spent on the stadium balancing the indebtedness is totally wrong and is in fact the opposite stadiums need enormous amount of funds and money to keep updated and two operate so the argument of asset against liability is incorrect.

If my understanding of above is correct then the narrative coming from the club is not substantiated by the reality of the position where we find ourselves Reality is we don't know which division we will operate in next year we don't know the central funding amount which will be delivered to each club and the reality is the only way to meet the indebtedness east reduced costs, which means moving not from Super League into the championship that perhaps even lower Conclusion take over essential if we have a in our lifetimes want to see success at Wakefield Trinity.

I think most people posting on this subject (including myself) want the club takeover to go ahead..
however the benefits of having someone like John Minards on board dealing with IMG , RFL , the council, the Rollin shack project etc all areas that he has experience in. Would be beneficial..

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 10:15 am  

It's undeniable that JM's IP and history with the East Stand development is of great value, plus relationships with IMG, RFL etc. But, you'd have to be daft to believe that he would stay on as an employee. As dirty as it sounds, you wouldn't blame him if he, as we do in our world of the daily grind, wanted "a piece of the pie"... JM doesn't need a salary. He wants a raison d'etre. A meaningful purpose. And thats to finish what in his mind he started.

There could be some tough decisions currently on the table. So not delaying things as such, but "negotiations" as stated by the man himself.

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 10:36 am  

Pop Tart you seem like a person in the know: The highlighted £ 4 million plus debt is I presume the loan from the council to purchase the ground and the Covid loan, these need repaying and will be incurring interest. They are short term loans, perhaps typically I am guessing to be repaid over a five year period. Then we are told of trading losses that will need to be covered. Over the last few years the trading losses have been covered by director loans. So cash will be needed urgently to repay the loans and cover the trading losses. This idea that the ground is now worth £ 15 million does not generate cash. Firstly who has valued it at that figure, why stop at 15 million why not say its worth 100 million. I cant see a bank lending money against the ground as firstly according to Companies House the council already has two charges on the ground, secondly would the directors / owners want to risk the ground again, thirdly in all honesty can you see a company valuing the ground on behalf of a bank at any more than any buyer would be prepared to buy the club for which is no where near £ 15 million. The debts need paying, cash is required. So what the club needs is a successful person to buy it, again looking on companies house you can see the last posted accounts of our proposed buyer show a turn over of £ 92 million, an operating profit of £ 25.64 million which after tax showed a net profit of £ 20.44 million. That's one successful and wealthy company. That would be plenty of due diligence for me !!!!

[PopTart]

Re: Member Shareholders Meeting Tonight : Wed Aug 16, 2023 10:37 am  

suportrclub wrote:

this post, I just want to make clear this isn't a attack or on our any individual and I respect anyone who puts their hand up to be involved and support our club.

Having attended shareholders meetings it is abundantly clear that our overall indebtedness off Circe £4 million pounds plus this season estimated losses which sounds to be substantial can only be met by substantial funds been injected by either the present incumbents all new investment.

The rationale of money spent on the stadium balancing the indebtedness is totally wrong and is in fact the opposite stadiums need enormous amount of funds and money to keep updated and two operate so the argument of asset against liability is incorrect.

If my understanding of above is correct then the narrative coming from the club is not substantiated by the reality of the position where we find ourselves Reality is we don't know which division we will operate in next year we don't know the central funding amount which will be delivered to each club and the reality is the only way to meet the indebtedness east reduced costs, which means moving not from Super League into the championship that perhaps even lower Conclusion take over essential if we have a in our lifetimes want to see success at Wakefield Trinity.

I was at the meeting and don't draw the same conclusions you.
The asset, bought with the loan, is an earning asset. That's what pays for the loan.
Clearly, everybody gets that an influx of money is beneficial if we want to move forward, but that's not the same as being needed to pay the bills.