I understand what you're saying, but I'm absolutely convinced that we have no chance of getting a franchise anyway - I'd prefer to see us cutting our cloth for the Championship and working towards a strong bid, out of NM, for 2015. In that scenario, entering administration would have no impact on a franchise application, as there wouldn't be one.

If the finances of the club can be stabilised and we can demonstrate that we will be playing the 2012-2014 seasons in stadia that meet SL criteria, then the only significant concern from a franchising perspective is attendances.



I don't doubt that the cost of maintaining BV is a huge drain on the club's cash & the sooner we move out, the sooner we get more cash from Cala Homes to further strengthen the finances.



Perverse as this may seem, if we aren't playing in SL between 2012 & 2014 I would much prefer this to be because of the RFL's double standards than because the club made the decision for them by not applying. That way we'd be able to build a 3 year campaign in the Championship to show the RFL how wrong they were to relegate us.

Whilst the supporters trust would be a separate entity from the club and WTRLFC Ltd, it will have very much something to do with both as it will potentially give the club an opportunity to secure another super league franchise AND it may ensure the solvency of the corporate entity (i.e. WTRLFC Ltd) which currently owns the club!



I also fully appreciate that the vast majority of the £500k will be used to discharge existing HMRC/bank debt BUT the new board of directors will have to develop a sustainable business plan going forward once these arrears have been paid.



If the trust was to raise £500k then it should ensure that it has a controlling stake in WTRLFC Ltd and control over who sits on the Board before advancing any of these monies.



If not then these monies will be advanced to the same controlling individuals who have run the club towards its current precarious financial position.



Hopefully the above is clear as it should be communicated to prospective contributors to the trust that it will happen! The other matter that needs to be clarified is who will administer the collections of money into the trust...the club, WTRLFC Ltd or a 3rd party...it should be the latter.



All the above should be considered at the meeting on 18th Jan.

Fair points but we do not know at this early stage how a Trust will develop, we don't as yet even have a Trust, that the purpose of the Meeting on the 18th.



If a Trust is established any monies will be collected and administered by the Trust not WTRLFC Ttd.

=#FF0000EDIT: This thread is not going to become another tedious debate about Newmarket. There are other threads open for that. Join those, if you have anything else you desperately need to say on the subject. RR

Further proof that you can't educate pork.

Except that if the £500k is raised the "controlling individuals who have run the club towards its current precarious financial position" will be standing down & leaving whoever is nominated by the contributors of the £500k to manage the business going forward.

If the 500k is raised and if that equates to 500 new shareholders. To change anything those 500 new shareholders would all have to turn up on the same date and at the same time. If the current largest shareholders also turn up there will be no change unless they allow it and only if those put forward have the necessary experience in running a professional rugby league club.



Is it worth investing 1k I think not, donate it to a charity of your choice at least then your money will have made a difference.



The statement offers a number of things at Newmarket, one problem with that is Newmarket does not exist, so they are actually offering investors NOTHING



With current debts of over 1 Million pounds the club will be lucky to survive. Well done TR and the BOD

Why is that so difficult to grasp.

500 grand but ted still large shareholder and entitled to money from sale of bv or thats how i see it..

Money from the sale of BV is due to the CLUB as it is an asset of the CLUB.



If at any time in the future the BoD feels it is appropriate to declare a dividend to shareholders then they are entitled to do so, providing the level of dividend proposed is sustainable from the club's reserves. If such a set of circumstances arose based on the CURRENT structure of the club then Ted would be entitled to receive a dividend proportionate to his shareholding.



HOWEVER, to quote the official club statement earlier this week "The Board of Directors said they have been told repeatedly that people would support the club and come forward with financial assistance if the current Board were not involved. Therefore the Board are offering this opportunity to shareholders, supporters and new investors to come forward and create a new Board of Directors under this scheme."



Further to this, the comments on this forum about Tuesday's meeting indicate that if the £500k is raised Ted will transfer his majority shareholding to a supporters Trust. Ted would NOT receive a single penny of either the £500k OR any future dividend.

Absolutely no idea..................any suggestions how we can make it clearer???