Re: Bulls Takeover : Wed Oct 16, 2019 12:01 pm  

Mr Dog wrote:

Wakefield owe WMDC over £3m, hardly debt free.

This is one of the most multifacetedly stupid comments I’ve seen for a long while!

Debt, particularly toxic debt, is not the same as a loan!

The LOAN puts an asset in Wakefield’s possession that is in fact worth more than the £3million.

The loan repayments are less than the annual rent for the ground thus improving Wakefield’s financial position

Owning the ground allows Wakefield to develop income streams within the new developments

Holding title to such an asset makes Wakefield more creditworthy

There are many more positives to taking that loan but these are the immediately apparent financial ones.

Re: Bulls Takeover : Wed Oct 16, 2019 12:07 pm  

nestegg wrote:

Spot on Bully. There is to a large extent no meaningful comparison between the two businesses in regard to the incoming income streams.

Of course there is, the philosophy is exactly the same even if the scale is much smaller!

While the funding is smaller so too are the outgoings.

Re: Bulls Takeover : Wed Oct 16, 2019 12:14 pm  

Mr Dog wrote:

Wakefield owe WMDC over £3m, hardly debt free.

You seem to know a whole heap of what other clubs owe to who!

Stones and glass houses come t mind when you support a club that paraded a massive cheque around before redevelopment of the east stand that never came to fruition. Then also while a non league team of a different sport always up to date with rent etc and you lot got locked out for the opposite!

Seems some fax fans cant have reasoned discussion without spouting your club owes etc! We all know we are in the poop. On the other hand Greg Florimo comes on and posts with reason

Re: Bulls Takeover : Wed Oct 16, 2019 12:17 pm  

MicktheGled wrote:

I still stand by the term I used which was asset-stripping but what else can CB, KH and MS do?

Mick, who are KH and MS?

Re: Bulls Takeover : Wed Oct 16, 2019 12:28 pm  

paulwalker71 wrote:

Mick, who are KH and MS?

Kathryn Harrison and Mark Sawyer, you'll get to meet them next week at the fans forum.

I must stress again that Mark's position in the new ownership of the club is purely an advisory role to help and assist with the 12-month move to Dewsbury.

Re: Bulls Takeover : Wed Oct 16, 2019 12:30 pm  

Kath Hetherington and Marwan Soukash

Re: Bulls Takeover : Wed Oct 16, 2019 12:39 pm  

MicktheGled wrote:

Kathryn Harrison and Mark Sawyer, you'll get to meet them next week at the fans forum.
.

Thanks Mick

Who is Kathryn Harrison, and what's her pedigree in the sport, if any?

Also, are those three the totality of 'the consortium', or are there others?

Re: Bulls Takeover : Wed Oct 16, 2019 1:47 pm  

The Avenger wrote:

This is one of the most multifacetedly stupid comments I’ve seen for a long while!

Debt, particularly toxic debt, is not the same as a loan!

The LOAN puts an asset in Wakefield’s possession that is in fact worth more than the £3million.

The loan repayments are less than the annual rent for the ground thus improving Wakefield’s financial position

Owning the ground allows Wakefield to develop income streams within the new developments

Holding title to such an asset makes Wakefield more creditworthy

There are many more positives to taking that loan but these are the immediately apparent financial ones.

It will show as debt (loans are debts however you paint them) on the accounts and the Council could call the full amount in at anytime. Indeed there is a leaked document stating that that is what must be done if Wakefield fail to keep up with repayments, particularly as the asset was only valued at £1.8m a few months previous to the loan been made. Had WT been relegated that loan would have been a massive millstone around their necks.

Re: Bulls Takeover : Wed Oct 16, 2019 1:59 pm  

thepimp007 wrote:

You seem to know a whole heap of what other clubs owe to who!

Stones and glass houses come t mind when you support a club that paraded a massive cheque around before redevelopment of the east stand that never came to fruition. Then also while a non league team of a different sport always up to date with rent etc and you lot got locked out for the opposite!

Seems some fax fans cant have reasoned discussion without spouting your club owes etc! We all know we are in the poop. On the other hand Greg Florimo comes on and posts with reason

I know we have some OTT fans at Fax but in our defence, I don't believe Mr Dog is a Fax fan.

Re: Bulls Takeover : Wed Oct 16, 2019 2:04 pm  

Mr Dog wrote:

It will show as debt (loans are debts however you paint them) on the accounts and the Council could call the full amount in at anytime. Indeed there is a leaked document stating that that is what must be done if Wakefield fail to keep up with repayments, particularly as the asset was only valued at £1.8m a few months previous to the loan been made. Had WT been relegated that loan would have been a massive millstone around their necks.

Why are you discussing Wakefield’s finances on the Bradford forum. This Bradford thread is difficult enough to follow without adding Wakefield’s financial history to it.
Thank you