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Board Update
Posted by: WPL (IP Logged)
Date: 12 June, 2019 09:33

I guess this means the wheels in motion...

Link

Not sure how long the process is likely to take or is it a case of how long is a piece of string...

Is it to be read there is a bit of money, but not the whole amount we needed and not much else has changed. I suspect the bit about presenting to the RFU was when Melville was in town

Re: Board Update
Posted by: NOM (IP Logged)
Date: 12 June, 2019 09:55

The money will be to pay the administrators fees and associated costs along with a ‘pot’ that will be offered to creditors. Usually this is a fraction of what is owed and is a ‘take it or risk getting nothing if CVA is not agreed’.

How the RFU view it is another matter. A CVA is a clear declaration of financial failure so would normally come with a penalty (points deduction from last season - forcing relegation - or starting next on minus points or relegation down one or more leagues).

The next step will depend on whether creditors accept the terms and then how the RFU see it.

Re: Board Update
Posted by: Wildwillie (IP Logged)
Date: 12 June, 2019 10:11

"A new operational, break even plan for the 2019-20 season has been presented to the RFU with the Yorkshire Carnegie club continuing to stage matches at Emerald Headingley Stadium and the team operating from the Leeds Rugby facilities at Kirkstall."

No mention of a coach or what the team might consist of. If you don't have any staff then it should be quite easy to break even.

Re: Board Update
Posted by: opuscoitus (IP Logged)
Date: 12 June, 2019 10:18

points deduction forcing relegation while not ideal gives a chance to rebuild in a lower league and not fall right down the league pyramid,

from my point of view swap us with Richmond gives us a year or 2 in N1 to strengthen miles better than no relegation in champ and us getting humped every week,

ultimately it is what it is and we have to take the medicine, we clearly dont have the organisation skills for Prem at this current time so forget we are a prem club nonsense and rebuild from a decent level and for gods sake to all involved learn from this i beg you

Re: Board Update
Posted by: almostatyke (IP Logged)
Date: 12 June, 2019 10:29

I though that only administration brought a points deduction? If the creditors agree to the CVA terms then we carry on, or should that be, struggle on, without further penalty IMHO.

Still at lot to do though.

Re: Board Update
Posted by: Albert Fishwick (IP Logged)
Date: 12 June, 2019 10:34

Some earlier posts indicated that a CVA may not result in a points deduction if agreement is made with creditors but I am no expert.

I don't know how we would survive relegation to level three. Without the £550k from the RFU how would we pay the £100k for Headingley, never mind the rest of the running costs?



If I had all the money I've spent on drink ..... I'd spend it on drink.

Re: Board Update
Posted by: Wildwillie (IP Logged)
Date: 12 June, 2019 10:44

Quote:
Albert Fishwick
I don't know how we would survive relegation to level three. Without the £550k from the RFU how would we pay the £100k for Headingley, never mind the rest of the running costs?

We are stuffed.

Re: Board Update
Posted by: WPL (IP Logged)
Date: 12 June, 2019 10:44

Quote:
Albert Fishwick

I don't know how we would survive relegation to level three. Without the £550k from the RFU how would we pay the £100k for Headingley, never mind the rest of the running costs?

My thoughts exactly

Re: Board Update
Posted by: SideStep (IP Logged)
Date: 12 June, 2019 10:45

The hangman is slowly getting ready...



The first Leeds Tykes child mascot...#leedswasps0203season. #cheersbentos

Re: Board Update
Posted by: Feeding (IP Logged)
Date: 12 June, 2019 12:18

As the statement says they propose 'to operate' in the Championship,one can only assume that a CVC(if accepted) does not trigger a points deduction,whilst Administation would result in a deduction?

Re: Board Update
Posted by: Wharfedale1985 (IP Logged)
Date: 12 June, 2019 13:03

I don't know how we would survive relegation to level three. Without the £550k from the RFU how would we pay the £100k for Headingley, never mind the rest of the running costs?[/quote]

Given how reliant the club seem to be on the £550k from the RFU paying £100k to rent a stadium is diabolical. Then again with Hetherington in charge of matters I imagine the decision is concrete.

Re: Board Update
Posted by: JDH1 (IP Logged)
Date: 12 June, 2019 13:40

At least it mentions next season. I take that as a positive.

Re: Board Update
Posted by: Billy ba (IP Logged)
Date: 12 June, 2019 14:13

I reckon £100k to rent a stadium like Headingley and all the training facilities at Kirkstall plus all the extras on match day is a good deal

Re: Board Update
Posted by: Wharfedale1985 (IP Logged)
Date: 12 June, 2019 15:36

Quote:
Billy ba
I reckon £100k to rent a stadium like Headingley and all the training facilities at Kirkstall plus all the extras on match day is a good deal

A good deal if you can afford it, as I say given how reliant they seem on the £550k that is ridiculous sum to spend.

Re: Board Update
Posted by: Tower (IP Logged)
Date: 12 June, 2019 15:47

Quote:
Wharfedale1985
Quote:
Billy ba
I reckon £100k to rent a stadium like Headingley and all the training facilities at Kirkstall plus all the extras on match day is a good deal

A good deal if you can afford it, as I say given how reliant they seem on the £550k that is ridiculous sum to spend.

I totally agree with you Billy ba this is a great deal. I want to support my club at a great venue.


Wharfedale1985 if we carry on where do propose we play?

Re: Board Update
Posted by: Albert Fishwick (IP Logged)
Date: 12 June, 2019 15:48

Maybe so but it's not as if we have a spare ground we could use instead. It's a lot less than it used to be.



If I had all the money I've spent on drink ..... I'd spend it on drink.

Re: Board Update
Posted by: almostatyke (IP Logged)
Date: 12 June, 2019 16:14

Gary Hetherington said at the fans' meeting that if anyone knows a cheaper alternative to the £100k Headingley offer, please let him know.
The £100k includes the training facilities, offices and certain backroom functions. I know other clubs operate on a volunteer basis for many functions (e.g ticket sales on match day) but if we do survive, there is little time to set that up for next season.


The high level facilities might just be enough to tempt loanees and players to join us at short notice, too.


Only if we survive our financial problems of course.

Re: Board Update
Posted by: bspa2 (IP Logged)
Date: 12 June, 2019 16:14

I suspect that there are more players than we realise who will be glad to play good rugby and develop their careers at the same time. I would be surprised if there haven't been a lot of conversations already.

At least the CVA offers continuity.

Re: Board Update
Posted by: knightandday (IP Logged)
Date: 12 June, 2019 16:23

100k is a bargain price to pay to run a club at this level. Castle park probably costs twice as much. The difference is that any monies taken goes to DRFC where as monies taken at Headingley probably goes to Rhinos.

Good luck for the future (except when you play us)

Re: Board Update
Posted by: Feeding (IP Logged)
Date: 12 June, 2019 16:56

If Wharfedale go bust,clearly they will expect to play and train at Skipton,free of charge.

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