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The Wray Family
Posted by: DoubleChampions (IP Logged)
Date: 19 January, 2020 00:15

Let us face facts.

Allianz are now unlikely to hang about - a financial services company will not and simply cannot any longer be associated with such financial impropriety.

Same for CME.

Unless the Wray family stick another few million in - the club is finished.

In my view the Wrays have NO CHOICE but to ensure the survival of the club to safeguard all of the staff, 3rd parties etc

There are still feelings that there is yet more to come out!



+1

Re: The Wray Family
Posted by: myleftboot (IP Logged)
Date: 19 January, 2020 00:22

Yeah, whilst the infrastructure will help, the stench of cheating is gonna be garlic for the sponsoring vampires. Its still very raw, and with the sparsity of facts about the judgement, I am obvious guessing, but I think with hindsight the 'no breaches' ruling was a warning that the businessman in Nige saw as a weakness to exploit. Poor judgement callif I'm right, and we have to hope his undoubted love and loyalty to Sarries will caryy us through a tricky, er, 5 years?

Re: The Wray Family
Posted by: DoubleChampions (IP Logged)
Date: 19 January, 2020 01:19

Indeed mlb - it is conjecture but I would be amazed after the initial findings the following conversations did not take place:

Allianz / CME: Nige - is this it? Has a line been drawn? If so, we can ride it out ........ if not??????

Sorry sorry state of affairs.

Re: The Wray Family
Posted by: Sorry Sarrie (IP Logged)
Date: 19 January, 2020 06:34

Club finances were the first thing that came to mind when relegation was confirmed. I can cope with anything and am now looking forward to the Championship with new faces and places but if we fail financially that would cut deep....



My wife and I are on the verge of splitting up because of my obsession with rugby.
I've decided to give it one last try......

Re: The Wray Family
Posted by: Bram1ey_Road (IP Logged)
Date: 19 January, 2020 07:32

Quote:
DoubleChampions
Let us face facts.
Allianz are now unlikely to hang about - a financial services company will not and simply cannot any longer be associated with such financial impropriety.

Same for CME.

Unless the Wray family stick another few million in - the club is finished.

In my view the Wrays have NO CHOICE but to ensure the survival of the club to safeguard all of the staff, 3rd parties etc

There are still feelings that there is yet more to come out!

Not sure what your relevant experience is or your qualifications for commenting are, but I assure you that the egg is equally on the faces of PRL AND that sponsors will make calculated decisions on commercial rather than emotional factors. Lesson there?

Re: The Wray Family
Posted by: Keffer K (IP Logged)
Date: 19 January, 2020 07:44

Weíll have to wait and see on the sponsorship, but on the Wrays, even with the risk it brings they have to detach from the club completely. We need to be looking at a much longer timeline than just the next two seasons, and we canít rebuild with them or EG still hanging around.

Yes I know NW did some great things in the community and was a nice guy F2F, but it doesnít matter as heís brought the club to itís knees.

Re: The Wray Family
Posted by: GHA (IP Logged)
Date: 19 January, 2020 08:05

Quote:
Bram1ey_Road
I assure you that the egg is equally on the faces of PRL

Equally?

Re: The Wray Family
Posted by: RiponFalcon (IP Logged)
Date: 19 January, 2020 08:10

Sorry, donít want to kick the fans when they are down but surely the inland revenue will be all over this? Undeclared salary payments will potentially mean unpaid tax. Premiership rugby have been seen by some as a bit vindictive but that will seem like nothing if the tax people get their teeth into the club

Re: The Wray Family
Posted by: Convex Hull (IP Logged)
Date: 19 January, 2020 08:30

It has no tax implications, as I understand. The law and PRL regulations are not congruent on co-payments.



Regardez mon visage. Suis-je bovvered?

Re: The Wray Family
Posted by: BlackheathSarrie (IP Logged)
Date: 19 January, 2020 08:32

RiponFalcon "if" it is still only about the co-investments then I believe that HMRCs view on investment v salary won't catch those players out in the same manner that the salary cap Laws very broad, as acknowledged by Lord Dyson, definitions did.
If there is other income undeclared to PRL but declared to the taxman then the players are also fine.
There are however a fair few ifs in the above and I agree that there's a whole different world of pain if HMRC have been denied tax and I'd be surprised if this story hasn't drawn their attention and select players don't get inspections.

Re: The Wray Family
Posted by: dirtybertie (IP Logged)
Date: 19 January, 2020 08:38

As put on the salary cap thread, Allianz are not happy, Nike are off, Spurs deal is up in the air and the West Stand is also in jeopardy

Re: The Wray Family
Posted by: RiponFalcon (IP Logged)
Date: 19 January, 2020 08:43

Iím in no way saying that any tax rules have been broken. However I think there is a sufficient lack of clarity to interest HMRC. HMRC do not move quickly so you are potentially going to be under investigation for a while

Re: The Wray Family
Posted by: DoubleChampions (IP Logged)
Date: 19 January, 2020 08:44

Quote:
Keffer K
Weíll have to wait and see on the sponsorship, but on the Wrays, even with the risk it brings they have to detach from the club completely. We need to be looking at a much longer timeline than just the next two seasons, and we canít rebuild with them or EG still hanging around.
Yes I know NW did some great things in the community and was a nice guy F2F, but it doesnít matter as heís brought the club to itís knees.

And who do you expect will come in and finance this basket case?

I agree with your sentiment, however, it could only happen right now if the current board and investors put the club on a completely sound footing immediately for the next couple of seasons and then completely stepped away waiving all rights etc

The club cannot be sold in its current predicament and keep all the staff in place and everything going etc

I think the Wrays owe it to all the employees, fans etc to make sure the club does not fail because of the damage the current board etc have caused.

And Bramley, for the record, I worked for many years in Venture Capitalism & Change Management dealing with and aiding distressed businesses - I know the lay of the land and your seemingly supportive stance of the club at this time is frankly very misplaced - think of the customer service staff, the shop staff, the catering staff etc etc

Re: The Wray Family
Posted by: Keffer K (IP Logged)
Date: 19 January, 2020 09:25

Youíre probably right DoubleChampions. Iíd take any sort of comment from the club at this point

Re: The Wray Family
Posted by: Banzai1314 (IP Logged)
Date: 19 January, 2020 19:33

I was one for thinking that Nigel had the right intentions but had got the process wrong but now I feel that he has dragged us down. How someone with his business knowledge could miscalculate this is unbelievable. The club is in free fall and it will cost far more than the millions Nigel has to convince other clubs to accept us.I feel both sad and embarrassed at having tried to defend the mess we are now in only to find that it was considerably worse than we first thought.
Whilst I have no issues with playing in the Championship I feel for the players who now will most likely have to go their seperate ways and hope that Owen and the senior players will stick with the club through the tough times ahead as it will show that the club means everything to them. Time will tell.

Re: The Wray Family
Posted by: Keffer K (IP Logged)
Date: 19 January, 2020 20:04

Disappointing to see him there today.

Re: The Wray Family
Posted by: Banzai1314 (IP Logged)
Date: 19 January, 2020 20:09

I agree

Re: The Wray Family
Posted by: lechef (IP Logged)
Date: 19 January, 2020 20:21

Quote:
Keffer K
Disappointing to see him there today.

Should have stayed away. Must have a thick skin, or he is teflon coated.

Re: The Wray Family
Posted by: Harrow Sarrie (IP Logged)
Date: 19 January, 2020 20:26

Maybe he just turned up to hand over the keys.

Re: The Wray Family
Posted by: wolfgangvonb77 (IP Logged)
Date: 19 January, 2020 20:32

I think NW did it with the right intention and it went wrong and helping players with a life after rugby isn't a bad thing. Starting a school and really putting into the local community is something that shouldn't be forgotten. Players are now running successful businesses and the club always cultivate the best possible environment for the players. I'm not condoning what's happened but the club and premiership clubs aren't not making a profit apart from one which I think is Exeter. Which sane investor is going to put money Into a club that is running at a loss and the PRL is running at a loss as a whole. It will be a lesson for the club and I'm sure that we will have our house in order in the future.

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