Sorry,but that sentence says everything that is wrong and has been wrong with Wakefield for years.
It would take all of 30 seconds to establish the credentials of a director.
Obviously they have not learned from past mistakes when checking the credentials of potential investors.
It really is no wonder we are in this sad,sad state!!!!!!!!!!!

I approached ted after the meeting and suggested he renegotiate the sale of belle vue at a slightly cheaper price if we could have a cash advance from the buyer of 350,000. Got a negative response and was told the money wouldn't come through in time anyway. Seems a logical solution to me.

The guy in question is our major sponsor and has been seen by many over the years as the future Messiah. He has clearly found a way around the rules - but I would be extremely worried if he were to gain control of our club - his trading history is not good, although he is currently doing well.

More worried than you are now?

If we are talking about the same person he was banned in 2004 until 2018.

That didnt take long to establish did it.

Its total incompetence.

I had dealings(securing some of my employers assets) with the club when it went into CVA and was totally dumbfounded then at how incompetent the club were,in particualr with regards due dilligence.It was one of the most unprofessionally operated businesses i have ever dealt with.

Nothing has changed 10 years on.
Certain board members should hang their heads in shame at the way they have run Wakefield.
Some people will back Ted whatever,im afraid for me his legacy for Wakefield will be that years of mismangement of the club with him in control has ultimately led/will lead to us ceasing to exist!!!!!

It is a sad,sad,soul destroying mess he has got us into.

All this talk of 'sugar daddies' - most sporting clubs have one, it just seems that ours is skint. The only thing that separates Davy from Ted is Davy still has cash in the bank.

As for making people redundant when/if a new BoD took over, if the club desperately needs this £500k, why haven't cuts been made within the club?

You must have noticed all the personel changes within the playing staff!

Of course, but off-field as well?

On that note are any other departures likely to ease the wage bill and raise a bit of quick cash? i'm thinking people like Murphy, Ferguson And Obst who probably have a bit of sale value?

Not if we find the 500!

It looks so much better without the k at the end!

So if/when we don't, yes then!

Firstly, I come in peace. I'm just trying to understand how the club comes to be in such a mess. Where has the transfer money from brough and atkins gone? Added to this the money saved on their wages, the wages of tronc and newton (RIP). Added to that the reported £1.5 million recieved from the sale of belle vue. To still have an outstanding tax bill of £160,000+ and then asking the fans for £500,000. That seems like a monumental mismanagement of finances. How har this been allowed to occur? What were the rest of the BoD doing? All this would need to be answered for me before I could part with any money. Good luck

Trying to run a Super League club on Championship crowds and Season Ticket holder numbers would probably be the short answer.

In a nutshell. I have heard rumours that some sponsors had not paid up also.

We average a gate of approx 5k and our wage bill, year on year, is a pittance. We have recieved over £200k in transfer fees and £130k in handouts in the last year alone, and we get payments from SKY for being a Super League club. And now we are asking for the fans to invest £500k? The same fans who have invested hard earned money time and time again, some even in share schemes. And for what? It's not to secure the future of the club, because we've been here before, and look where we are again.

How are we not spending within our means? I ask, where the hell does the money go?

Only if it was not true.

Top post again, you are on a roll squire! The worst thing I can imagine is finishing bottom iF they want us out they'll have to throw us out.

It's obvious with the admissions over the past few days that the club has a debt position that is at a critical stage.

1. They could release 350k from NM if full planning had been granted and not called in.
2. The RFL refused a 350k loan.
3. Now a 500k share issue.

The RFL have obviously knocked back the loan because it will be for trading/historic debts and now it's time to turn to the supporters to do so.
However hard a decision in the harsh economic light the club has to go into administration. Then and only then would potential suitors step forward to deal with the administrators instead of dealing with the present BOD. You never know this is maybe why the interested parties have stepped back at the 11th hour (it's common sense and practice for them to do so) and what if a deal has been done with the RFL with the interested parties pending the present incumbants placing the club into admin.
It does not make any sense whatsoever to buy debt.
It's a gamble either way.
Place your bets.

heard the rfl didnt give us the cash has they didnt want us owing them cash has they would have toleave us in sl

their value will plummet and it won't be down to performance

why have 3 people in the shop,lets save money, why have a head of sports science, hes a conditioner, why have jk on the bod, cut backs are easy, sack some of the bod moree savings

Good points, I asked Lord Ted all these questions myself and he did admit these are all errors he has made.
However he then pointed out there are examples when he has got it right and he did say he saved a few quid when he didn't employ you

correct