Re: AGM/EGM tonight : Thu Jan 06, 2011 11:06 am  

The Trip wrote:

I'n not sure but I believe that the ground has already been sold and the monies have been drawn down and used (!!) so effectively apart from a blow up pussy the club does not have any assests. I stand to be corrected though.

You could be right however I believe the public line is that they have only recieved 50% of the value. I do find it strange that the people with connections at the club are not answering this question.

I would also like to say on the subject of the crusaders that, when teams were exempt from relegation, thus allowing them constants access to the sky money at the detriment of others, this was the thin end of the wedge, and people voted for it at the time and have not had an issue whilst cocooned within a 3 year franchise.

[tb]

Re: AGM/EGM tonight : Thu Jan 06, 2011 12:15 pm  

Sandal Cat wrote:

I personally would like the see some form of incentive given to new shareholders to enourage the purchase of shares. Not thought it through yet but say for an investment of £1,000 you be given in addition to your 1000 shares say a season ticket at Newmarket for a period of time so that you feel that you are getting something tangible as well as shares.

Someone may have listened to you

Your club site wrote:

When the figure of £500,000 is reached a Shareholders meeting will take place and you will have the opportunity to nominate and vote a new Board to run the club going forward

· First option to pick your seat at the Newmarket Stadium, with exclusive Season membership packages for Share holders

· Exclusive access to the shareholders supporter bar at Newmarket Stadium

· Invitation to an exclusive Stadium tour for Share holders at Newmarket before the stadium opens

Re: AGM/EGM tonight : Thu Jan 06, 2011 12:23 pm  

Id be interested to know exactly what assurances the rfl, sl and the stadium developers were giving to the previous potential investors. If they were told what they are will the potential new investors?

Re: AGM/EGM tonight : Fri Jan 07, 2011 10:20 am  

TRB wrote:

You are correct - there is a share option available and details will be sent out to all existing shareholders imminently. The gist is - are there 500 people willing to invest £1k to raise £500k and re-capitalise the club - by the 31st January. If that can be achieved - the BoD will resign en masse and offer new people the opportunity to step forward and take over the running of the club.

The money would be paid into an ESCO (?) account, which is a holding account, and should an insufficient amount be raised, then the money would automatically be returned. If the target is reached, the money will be converted into shares, with Ted's existing shares transferred into a Trust or similar.

Failure is not an option, although efforts continue to try and entice an investor into the club.

As a general comment, please do not confuse the frustration of not knowing details with bad management. The club are inbetween a rock and a hard place on these matters - they have been heavily criticised by many for not having a shareholders meeting, now they have and, quite rightly I'm afraid to say, the shareholders are entitled to first dibs on new details about the club - they do own it!

Those that were there were given an honest and full account of all the ongoings over recent months, which partly explained the delay in holding a shareholders meeting. We were told the details of 2 major investors (one is our sponsor) who spent weeks each going through the books and then surprising everyone by pulling out. Part of the reason for their withdrawal lies with the situation created by the RFL and Crusaders!

More energy needs to be directed as to why the new Welsh club have a £700k loan from the RFL, yet we were refused £350k - even when granted security against the NM site.

I'm not quite sure how or when the club will reveal more details from last nights meeting, but I've set the ball rolling here - maybe prematurely - so the question is - are we willing to pay up to secure RL in Wakefield and, for all those Ted bashers, here is your chance!

Altough i do not agree with the RFL supporting Crusaders in any way shape or form, why should the RFL help Wakefield out ? we cannot blame the RFL for our shortfalls can we ? we have failed to attract investers for years does that not tell you something ? either we are not a good investment or the current BOD were not very good at their job ?. The RFL did nowt to help Blackpool what makes Wakefield any different ?

Re: AGM/EGM tonight : Fri Jan 07, 2011 12:50 pm  

Yes I agree we shouldn't be blaming the RFL for the mess that we as a club are in. The ground was a dump when I started watching 20 years ago so why did we wait so long to try and sort a new ground out?

Ted said he would have gone in 2001 if someone would have come forward to take over, I wonder what would have happened if the 500,000 share offer was available back then and the fans took it up? Where would we be now?

Re: AGM/EGM tonight : Fri Jan 07, 2011 12:54 pm  

scudley wrote:

Altough i do not agree with the RFL supporting Crusaders in any way shape or form, why should the RFL help Wakefield out ? we cannot blame the RFL for our shortfalls can we ? we have failed to attract investers for years does that not tell you something ? either we are not a good investment or the current BOD were not very good at their job ?. The RFL did nowt to help Blackpool what makes Wakefield any different ?

I'm not excusing the BoD of anything but the RFLs decision to support Crusaders move into Administration has had serious repercussions for Wakefield and many other clubs, they are negligent in their actions for failing to anticipate the HMRCs reaction.

Re: AGM/EGM tonight : Fri Jan 07, 2011 12:59 pm  

Sorry for being a bit thick but can someone clarify. Because Crusaders opted for administration this made HMRC rip up all superleagues clubs repayment plan agreements..? If so is this liable to affect a number of other clubs now and in the future. If so if clubs had to vote to keep them in Superleague it looks like it's back fired big style. Is Superleague going to consist of Rich backers only in the future..?

Re: AGM/EGM tonight : Fri Jan 07, 2011 1:02 pm  

The Clan wrote:

I'm not excusing the BoD of anything but the RFLs decision to support Crusaders move into Administration has had serious repercussions for Wakefield and many other clubs, they are negligent in their actions for failing to anticipate the HMRCs reaction.

this is the part that morally makes me think this share offer is wrong, and on another point the chronology of all this is disturbing, when did all these events take place?

the investor meeting with rfl
the letter to clubs from the rfl re tax bills
what did sir rw's cash actually cover in months and years

not one single person to blame in all this but quite a few in reality, going to be a tough decision for me re the 1k, i can afford it but frankly i cant see it happening, and i certainly would not advise others to do so if asked.

Re: AGM/EGM tonight : Fri Jan 07, 2011 1:11 pm  

supercat wrote:

Is Superleague going to consist of Rich backers only in the future..?

Does any club in Football's Premier League, Union's Premiership, even the Elite League of Ice Hockey in this country have any other kind of business model? Top level sport is a rich man's plaything, it's hard to make money from these things, only throw it away. The owners are in it for prestige and philanthropic nature of the beast, or they are fools!

Re: AGM/EGM tonight : Fri Jan 07, 2011 1:19 pm  

chapster wrote:

this is the part that morally makes me think this share offer is wrong, and on another point the chronology of all this is disturbing, when did all these events take place?

the investor meeting with rfl
the letter to clubs from the rfl re tax bills
what did sir rw's cash actually cover in months and years

not one single person to blame in all this but quite a few in reality, going to be a tough decision for me re the 1k, i can afford it but frankly i cant see it happening, and i certainly would not advise others to do so if asked.

The decision whether to back the share offer is yours and yours alone...obviously, but don't confuse it with anything else. It's the fans who are going to have to drive this NOT the BoD, they will have nothing to do with it other than publicising the plight of the club and any initiatives that might help.

The fans, like you, me and many others have to decide whether to build this fighting fund/share issue/investment/donation call it what you will. If and when we have enough we can decide what to use it for or it can be repaid, IN FULL with nothing lost, to each and every contributor.