Thanks, gamble and lost

you could of put towards for a boob job for the mrs

Gold membership no less. Feel like a right gold member now!

Nope and there is!

There is still a club to fight for, the task ahead is a difficult one, almost impossible its not been made any easier by all the naysayers and I told you so's.



We know the club could have been managed a lot lot better, believe me I've seen it first hand

Mopsey, you're not telling me anything I didn't already know and I'll hazard a guess that I have suffered because of it far more than you!



The current board of directors will not benefit one iota from this share scheme!

If this scheme fails the money will be repaid to each and every individual contributor however, if it is successful the board of directors will be no more, they will not benefit at all, they will have zero influence within the club and how the money is spent, they will be gone for good.



What's past is past, if we want a better future or indeed any future for this club then we all have to get behind this initiative!

the guy reminds me of the inspector from the pink panther who blamed all his problems on cluseau and was convinced that everything in his life that was bad was because of him. he seems to hold jk and ted in the same way and thinks his rantings are something that no one else knows, but in truth we all more or less know the same. i read on another thread that he thinks he has been treat shodderley by someone at the club. mate, i think he should try and get over this. we all have our cross to bear and it sounds to me as time goes on he is getting worse. maybe there are a few mental health issues going on there.

Exactly.



There has been people on here calling for the Board to resign and now you have the opportunity to see that become a reality if you are prepared to see it through. If there is sufficient interest in this share offer a new Board will take over the club and the old Board will be no more. Surely thats what many on here have been calling for.



I know time has made people cynical (no more than me) but what will it take to convince people that this is an opportunity for a new start at the club and maybe put it back into the hand of the fans.



As the Clan has said the share monies will not in any way benefit the existing Board only the new Board and the Club going forward. What does it take for people to believe and support this initiatve - genuine honest question looking for honest answers.

The problem as I see it, is it is difficult to convince enough people that this is the better option then admin and reforming with much reduced debts and a potentially longer term future (particularly as most would accept a SL franchise for 2012 is not going to be coming our way).



As I said before, whether the money is raised or not the current BOD should leave once the matter has come to a head anyway. Their shares are worth nowt and they offer no value in running the club.

come the 31 January, either we have raised the money required and the board of directors are gone or we have failed to raise the money and the board of directors are gone along with OUR club.

OR



The club has gone into administration and the BoD have gone, along with the majority of what appears to be crippling debts and liaibilities; it can then be bought for a song and relaunched, with any investment that is secured being used for something more productive than servicing historical debt.

Clan,



Are you saying that the club would not go into administration and continue trading whilst the firm appointed as administrators sought the best possible offer to sell the club as a going concern?



I am still confused over the urgency. As the season hasn't started yet, we can't have spent our share of the Sky money, we will shortly start receiving match day revenue etc... surely this tides us over for longer than the end of Jan?

I must admit that is what I would have expected to happen.

Correct; thats what Wrexham have done.

I'd think that if it did, more investment would be forthcoming than will be attracted by this offering; giving money to the current administration seems akin to pi55ing ones pants to keep warm.

The Rugby football league have made it clear that should we enter Administration we will not be treated in the same way that Crusaders were.



In the event that we enter Administration I'm not sure what the board of directors would do, I expect that they will walk away leaving what's left of the club to hopefully be picked up by new owners. That may sound attractive but in view of the Rugby football league's attitude towards Wakefield Trinity, I'm not sure where it would leave us as a club.

Agreed. Going into admin has no bearing on our SL franchise application following the change to the rules to allow Crusaders to remain.



I have already decided that at this stage my money will stay in my pocket for now. However, I would be willing to put a grand in the pot if the current BOD were gone and as you have said the money could be used for more constructive purposes.



It would be interesting to hear a reasoned argument as to why administration is not the best way to go.

Clan, I know the RFL wont loan us the GBP 350k, but I cannot see how they can treat our going into admin any different then Crusaders. They will be able to come up with other reasons they can give for not giving us a new SL franchise, but this could in no way be one of them

The Rugby football league see the Crusaders problems as ones created by the previous owners of the club and have mitigated their response to them entering administration.



They see Wakefield Trinity and the financial problems they have in a completely different light and will throw the book at the club if they enter Administration, let's not beat around the bush here the game's authorities are licking their lips in anticipation.



I understand that you wouldn't want the current board of directors to get hold of your money and I can assure you that there is absolutely no possibility that they can. Any money pledged towards the new share scheme will be deposited in an escrow account which cannot be touched by the club its directors or anybody else. If enough money is raised Ted, Eric and Ray Barnes will walk away from the club and donate their shares to someone. There will be no payoff, there will be no directors loans repaid, no golden handshake NOTHING!



Once they have gone the money will be used the best way it can to refinance the club and return it to a position where it can function day-to-day as a going concern!



If not enough money is raised then every single penny of your money will be repaid to you if that's what you want! There is no risk that your money will not be used for the purposes of which you pledged it.

I'm convinced that no matter what happens, we're not getting a SL franchise anyway, so the Crusaders issue is a red herring in my view; the RFL will do exactly what it wants and are not obliged to explain their reasons.



Like you, I'd be happy to invest in a new entity that was divested of the liabilities, both financial and human, that currently burden WTW.

This might sound like a ridiculous statement, in fact I'm having second thoughts about saying it, but

don't give up on a super league franchise just yet!



Whatever happens about the financial position of the club, raising the money, failing to raise the money, finding a new investor or entering administration, the Rugby football league will view our financial management as very poor. We will score mediocre to poor on crowds but so will a number of other clubs, in all other aspects of the franchise proposal, marketing, community work, youth development we will score highly.



As for the stadium, we will include Newmarket as part of the application but we will be playing from a stadium which will probably be as good as any in the game and we will have a tenancy agreement which is legally binding and will cover the whole of the franchise period. The RFL will have no choice but to score highly in that category.



Here's hoping!

Well thats a step in the right direction, whatever next, eating with a knife and fork maybe

And there lies the problem, who ever they give their shares to will control the club, so the fans that throw their money in will have no control over the club whatsoever, it will not be like a fans trust, even if the fans have 50 % of the vote its is unlikely that they will all vote together. Who ever gets Ted an co's shares will form the new board.



Look at it like this, if the fans were running the club and Ted and co are standing aside who are they to make promises about Newmarket seats, season tickets, stadium tours, you could have as many tours as you liked. The money is just a way of clearing debts.



Also who do you think Ted and co will give there shares to? and you think they will give all these shares away and not be having some influence in the back ground.



This is being painted out to be something it is not, true fans will have their say on the new board, they are share holders after all, but their say will mean nothing because they will not have enough shares.



I would be impressed if Ted Was to give is shares to the fans or a fans trust, then maybe I would believe all this fans having a say bull.



Ted should tell you know who is is going to make king.

But they wont. I know its a tall order but if we issue 500,000 shares Ted & Co even with their current shareholding will own nowhere near enough shares to control the club. Also what if Ted gifts his shares to a Trust as he has said he will do then he has no voting rights at all.



To answer the points raised about Administration. That may become inevitable particularly if the share offer fails. The money for shares will be put in an Escrow Account and cannot be touched by the current Board. If, and its a big if £500,000 was to be placed in the Escrow then a meeting of the existing and potential new shareholders will be called and they will decide whether the £500,000 will be put into new shares and whether that money will be used to pay of debts. They may decide that the Club is bust anyway and not proceed with the share offer and everyone gets their money back. Or they may decide to put the Club in Administration, wait for new investors to come long or even but the Club themselves and run the Club as a trust with the £500,000.



There seems to be an obsession that this share offer is to line the pockets of the current Board and its up to you whether you believe that or not. Believe it and let the Club go under and HOPE someone saves it for the future bit they may not or support the share offer with the protection of the Escrow and decide how to proceed if the target is reached.



If the target is not reached any monies paid into the Escrow will be returned. If you can affored the £1,000 (and I appreciate that there are many who cannot who support the Club in other ways) then you may save the Club - what competition in I don't know but there will still be a Wakefield Trinity which is I believe ultametely what we all want.

Do you not think it is a bit condescending to be offering potential owners of the club a Free stadium tour. If he offerd this to any of the potential investors that pulled out, they would have laughed at him, and said dam right we will have a stadium tour and first dibs on seats its our bloody club.



I wonder who will form this trust.



And once again, are the club owed any money on the ground or have they spent it?



And are there any un-issued shares in the club already and how many? If there is and they amount to a greater percentage than those the trust would own then this would still leave the door open to somebody taking over lock stock and barrel leaving the trust where?



I am only making these points as I believe it would be a good idea for the fans to take over the club, but only if that is what would actually happen. And if their is potential for shares to be sold to a new Investor other than those that are going to the fans, then in truth they would get little real say. Admit idly the club would on the whole benefit financially, but it would dilute the fan power. Also say the fans buy the shares and debts are cleared and there are other shares available then could and a buyer come in after the debts have been written off and buy the the club debt free.



Now I am not saying any of this is the case, what I am saying is these are questions the fans need to be asking. As I said before the Free stadium tours, and first dibs on seats, suggests that the fans investment as a means of influence is not been taken seriously.

You seem he'll bent on painting the share offer as negative!



There's been enough assurances and explanation for anyone to see that their £1K will either help the club survive or they can have it refunded in full if that's what they want.



Some people asked if there could be a tangible benefit to th offer and the club responded with a package of benefits.



As for a Trust being formed, who knows? I'm sure every avenue available is being investigated.



One thing for definite is that if the share issue is successful the current BoD will have ZERO, NILL, ZIP, NADA, NO INFLUENCE NONE!