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| Quote ="Mr Dog"They went into the CVA agreement in 2000 (it ended in 2004) so outside the 'licencing' period. They did go into administration in 2011 and came out of it in 2013, slap in the middle of 'licencing''"
Came out of administration in 2011 not long after entering it when Andrew Glover bought us. Turned out he was also useless and we were on the brink again in 2013 but thankfully Michael Carter is much more capable and managed to make us debt free whilst avoiding admin. |
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| Quote ="Mr Dog"They went into the CVA agreement in 2000 (it ended in 2004) so outside the 'licencing' period. They did go into administration in 2011 and came out of it in 2013, slap in the middle of 'licencing''"
They went into admin at start of 2011 and came out of it on 17/2/2011.
Wakefield never went into admin in 2013. They sold all their players, and every single last penny owed by that club was repaid in full. |
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| Quote ="j.c"Entering administration is going bust to me but fair do if thats not correct.
Suppose Mr Carter is the only one who can answer the loan question as it was at the time he took over the club iirc'"
We got a loan to satisfy an imminent winding up petition. I had to sign over the deeds to my family home( unlike others who have received loans in the last 18 months) and it was repaid in full, with interest, in 6 months. |
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| Quote ="Cokey"Wrong!
1.Would you turn 500k down?
2.Here's the last paragraph on DB statement on 25th July
I am committed to ensuring the Club reaches the end of the season and hope during that time a new investor or group of investors can be attracted to take the Club forward. I will be making a more detailed statement at the beginning of next week and until then will not be in a position to comment further.[u I apologise to our loyal fans and sponsors for this failing which ultimately has to rest with me.[/u'"
1. Yes.... If it was at a rate of interest I knew was putting everything I own at risk
2. Read the whole thing..... He blames everyone....its like Mark Anthony's speech in Julius Caesar...... "I come to Bury Caesar, not to praise him" ...... Before spending 15.minutes praising him....... |
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On form educating the masses tonight Mr Chairman (including me)!
Thanks for the clarity and openness - it's refreshing and reassuring. Many others in leadership of the sport could take note of your principled methods and communication.
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Quote ="Daddycool"Quote ="Mr Dog"They went into the CVA agreement in 2000 (it ended in 2004) so outside the 'licencing' period. They did go into administration in 2011 and came out of it in 2013, slap in the middle of 'licencing''"
They went into admin at start of 2011 and came out of it on 17/2/2011.
Wakefield never went into admin in 2013. They sold all their players, and every single last penny owed by that club was repaid in full.'" Quote ="jakeyg95"Came out of administration in 2011 not long after entering it when Andrew Glover bought us. Turned out he was also useless and we were on the brink again in 2013 but thankfully Michael Carter is much more capable and managed to make us debt free whilst avoiding admin.'"
if you read my post it says came out of administration in 2013. 28th January 2013 to be exact according to Companies House, or are the official government agency wrong? https://beta.companieshouse.gov.uk/comp ... insolvency |
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Quote ="Daddycool"Quote ="Mr Dog"They went into the CVA agreement in 2000 (it ended in 2004) so outside the 'licencing' period. They did go into administration in 2011 and came out of it in 2013, slap in the middle of 'licencing''"
They went into admin at start of 2011 and came out of it on 17/2/2011.
Wakefield never went into admin in 2013. They sold all their players, and every single last penny owed by that club was repaid in full.'" Quote ="jakeyg95"Came out of administration in 2011 not long after entering it when Andrew Glover bought us. Turned out he was also useless and we were on the brink again in 2013 but thankfully Michael Carter is much more capable and managed to make us debt free whilst avoiding admin.'"
if you read my post it says came out of administration in 2013. 28th January 2013 to be exact according to Companies House, or are the official government agency wrong? https://beta.companieshouse.gov.uk/comp ... insolvency | |
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| Quote ="Daddycool"We got a loan to satisfy an imminent winding up petition. I had to sign over the deeds to my family home( unlike others who have received loans in the last 18 months) and it was repaid in full, with interest, in 6 months.'"
Thanks for that,im glad for you that the risk payed off.Top chairman |
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I don't know the ins and outs of the truth about this point (or whether it even matters in fact), but you do know that's the Wakefield owner, Michael Carter, who you would assume knows his onions.
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I don't know the ins and outs of the truth about this point (or whether it even matters in fact), but you do know that's the Wakefield owner, Michael Carter, who you would assume knows his onions.
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That’s not the company’s that owns Wakefield trinity though is it?
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That’s not the company’s that owns Wakefield trinity though is it?
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| Quote ="dboy"On form educating the masses tonight Mr Chairman (including me)!
Thanks for the clarity and openness - it's refreshing and reassuring. Many others in leadership of the sport could take note of your principled methods and communication.'"
IM sure i educated you first on the loan thingy |
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| Quote ="Daddycool"That’s not the company’s that owns Wakefield trinity though is it?'"
It was at the time of going into administration |
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| Quote ="dboy"It allows you to put schedules in place and you're right, it may only be a % of the debt that's paid back.
Mr Carter has said on many occasions e.g. at fan's forums, but also in the open media, that all debts were repaid in full - it was a matter of principle for him. Again, happy for someone better placed to correct me on that.
Of course, this doesn't fit with some people's narrative (for example, Trinity NEVER said they would redevelop BV and play all TV games at Oakwell, while that happened - it's another well-repeated urban myth...and well before Carter's time anyway).'"
The official administrator (of the CVA) in his final report states that preferential creditors received a total of 22.5p in the £ with all other creditors receiving nothing. Not quite paying the debts off in full as might be interpreted by most but likely a play on words as they had met their obligation to pay what had been agreed.
oh, almost forgot, the initial agreement was for 33p in the £....... |
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| Quote ="j.c"IM sure i educated you first on the loan thingy'"
Eh? Oh, "Wakefield went bust and would have done so for a second time if the rfl hadnt chucked a large loan their way".
Well, it remains that they did not go bust even once. They went into administration twice.
The second one can't have involved that "large" an RFL loan, secured on Mr Carter's house - he lives in an ex-council semi in Wrenthorpe!
Well, maybe he doesn't...
I'm amazed that you are trying to find any negative in the way Michael Carter has repositioned the business.
I have no doubt 99 out of a 100 others would use the CVA to avoid paying their dues, rather than risking their own family home and acting with great dignity and responsibilty! He must have been crackers! |
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| Quote ="Mr Dog"It was at the time of going into administration'"
Ok here’s goes....
A company called Spirit of 1873 LTD bought the assets of the rugby club on 17 feb 2011. This is the company that has run the rugby club ever since. The administrator obviously took until 2013 to wind up the affairs of OLDCO.
In July 2013 spirit of 1873 ran into financial hardship. They did not however enter administration. Instead they sold players, took a loan, and traded their way out of trouble, repaying every single creditor along the way.
Does that help? |
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Quote ="Call Me God"1. Yes.... If it was at a rate of interest I knew was putting everything I own at risk
[u2. Read the whole thing.[/u.... He blames everyone....its like Mark Anthony's speech in Julius Caesar...... "I come to Bury Caesar, not to praise him" ...... Before spending 15.minutes praising him.......'"
Father
1. No one would turn down 500k,so don't be silly.
2. You HAVE NOT read any of the statement i was alluding to. I did say on 25th July.......Not Sunday's statement.
It's here.
Leigh Centurions owner Derek Beaumont has issued the following statement:
It was with a heavy heart and tear in my eye that the realisation sunk in that we would not make the Qualifiers. I have said publicly on numerous occasions and privately to the group that my position as owner of the Club would become untenable should that happen.
The Club will receive circa £200k in 2019 from £1.25m this year and circa £1.7m in 2017 and that is a drop too far to sustain the Club in its current form. To that end I must act in the best interests of the Club’s ability to survive going forward and in the short term to fulfil this season’s fixtures and also to reduce its commitments to make it more attractive to any party that may express an interest in taking it forward.
This week is deadline week and therefore an ideal opportunity for players to be able to secure their futures elsewhere and at the same time reduce the Club’s obligations. I can confirm there will be a large number of exits and that may bring some opportunities for others but that will be ongoing this week right up until deadline.
I am committed to ensuring the Club reaches the end of the season and hope during that time a new investor or group of investors can be attracted to take the Club forward. I will be making a more detailed statement at the beginning of next week and until then will not be in a position to comment further. [uI apologise to our loyal fans and sponsors for this failing which ultimately has to rest with me.[/u
Or here.
https://leighrl.co.uk/wp/blog/2018/07/2 ... atement-2/ |
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Quote ="Call Me God"1. Yes.... If it was at a rate of interest I knew was putting everything I own at risk
[u2. Read the whole thing.[/u.... He blames everyone....its like Mark Anthony's speech in Julius Caesar...... "I come to Bury Caesar, not to praise him" ...... Before spending 15.minutes praising him.......'"
Father
1. No one would turn down 500k,so don't be silly.
2. You HAVE NOT read any of the statement i was alluding to. I did say on 25th July.......Not Sunday's statement.
It's here.
Leigh Centurions owner Derek Beaumont has issued the following statement:
It was with a heavy heart and tear in my eye that the realisation sunk in that we would not make the Qualifiers. I have said publicly on numerous occasions and privately to the group that my position as owner of the Club would become untenable should that happen.
The Club will receive circa £200k in 2019 from £1.25m this year and circa £1.7m in 2017 and that is a drop too far to sustain the Club in its current form. To that end I must act in the best interests of the Club’s ability to survive going forward and in the short term to fulfil this season’s fixtures and also to reduce its commitments to make it more attractive to any party that may express an interest in taking it forward.
This week is deadline week and therefore an ideal opportunity for players to be able to secure their futures elsewhere and at the same time reduce the Club’s obligations. I can confirm there will be a large number of exits and that may bring some opportunities for others but that will be ongoing this week right up until deadline.
I am committed to ensuring the Club reaches the end of the season and hope during that time a new investor or group of investors can be attracted to take the Club forward. I will be making a more detailed statement at the beginning of next week and until then will not be in a position to comment further. [uI apologise to our loyal fans and sponsors for this failing which ultimately has to rest with me.[/u
Or here.
https://leighrl.co.uk/wp/blog/2018/07/2 ... atement-2/ | |
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| Quote ="dboy"Eh? Oh, "Wakefield went bust and would have done so for a second time if the rfl hadnt chucked a large loan their way".
Well, it remains that they did not go bust even once. They went into administration twice.
The second one can't have involved that "large" an RFL loan, secured on Mr Carter's house - he lives in an ex-council semi in Wrenthorpe!
Well, maybe he doesn't...
I'm amazed that you are trying to find any negative in the way Michael Carter has repositioned the business.
I have no doubt 99 out of a 100 others would use the CVA to avoid paying their dues, rather than risking their own family home and acting with great dignity and responsibilty! He must have been crackers!'"
Thats a bit of a ramble about nothing tbh.
First of all i didnt know the club had gone into admin twice,i never mentioned going into admin twice.
The club went into administration when the scrap metal merchant lost control of the club,yeah ?
Then the double glazing man took over, the club plodded on for a couple of years before he found himself out of his depth.It was at that point the club was about to crash and burn again until Mr Carter stepped in and barrowed a wedge of money against his house.
Fair do's if thats wrong but thats how i remember it |
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| Quote ="j.c"Thats a bit of a ramble about nothing tbh.
First of all i didnt know the club had gone into admin twice,i never mentioned going into admin twice.
The club went into administration when the scrap metal merchant lost control of the club,yeah ?
Then the double glazing man took over, the club plodded on for a couple of years before he found himself out of his depth.It was at that point the club was about to crash and burn again until Mr Carter stepped in and barrowed a wedge of money against his house.
Fair do's if thats wrong but thats how i remember it'"
The scrap metal man (Eric France) didn’t own the club he was a sponsor, and was still a sponsor when double glazing man ( A Glover) took over.
Up the Trin |
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If you'd bothered to read the thread, Mr Carter has since laid all the details out (including that there was only 1 admin).
I think the "scrap metal man", did play a big part in the club's woes, but he was only a sponsor. Interestingly, he is now at Her Majesty's Pleasure, through his dodgy business dealings.
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| Quote ="Wakefield City"The scrap metal man (Eric France) didn’t own the club he was a sponsor, and was still a sponsor when double glazing man ( A Glover) took over.
Up the Trin'"
Thanks.Who owned the club at that time ? |
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| Quote ="j.c"Thats a bit of a ramble about nothing tbh.
First of all i didnt know the club had gone into admin twice,i never mentioned going into admin twice.
The club went into administration when the scrap metal merchant lost control of the club,yeah ?
Then the double glazing man took over, the club plodded on for a couple of years before he found himself out of his depth.It was at that point the club was about to crash and burn again until Mr Carter stepped in and barrowed a wedge of money against his house.
Fair do's if thats wrong but thats how i remember it'" the sad thing is your rambling on about Wakefield Trinity when its all about Leigh and Derek Beaumont.
his statement is a fact that clubs can go quite easily to the wall shows how hard it can be in the lower end |
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| Quote ="j.c"Thanks.Who owned the club at that time ?'" Ted Richardson |
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| Quote ="snowie"Ted Richardson'"
Thanks for that.
I'll ignore your other post and just assume your like the bloke in your avatar picture.
Back to bagging Beaumont now. |
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| Quote ="snowie"the sad thing is your rambling on about Wakefield Trinity when its all about Leigh and Derek Beaumont.'"
Yorkies feeling left out so they bring another basket case club to balance things mate. |
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I just hope that if a new partner/consortium can be found for Leigh RLFC that proper due diligence by the RFL & not the previous blind eye/tunnel vision of the RFL is used as was at Bradford.
I followed the dealings of the last Bulls debacle with interest & I stress *as I have done before* not for car crash RL but in genuine sympathy for their plight & further stress how welcoming & informative the Bulls fans are on their boards when genuine concern can be seen.
I would hate for Leigh to be dragged through the same $#!T Fest they endured & would be as supportive for Fax, Fev, Salford, Wakey etc etc.
What should bring perspective & some meaning to RL fans is that last Friday I was more than happy to see fans of Fev & Fax at a Leigh fans funeral, having made the journey to say farewell to one of their friends born from the union of Rugby League. Indeed it is easy to separate those who love RL as a whole opposed to those who delight in the plight of others when the RL Family is called upon.
FWIW I like the way that Michael Carter appears to have run his Club & hope for similar at Leigh in future.
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Blame rests with Beaumont. Yes he put money into the club but the mismanagement has left them in the brown stuff.
It was all about Derek - if he was made of chocolate he’d have eaten himself
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