Wakefield Trinity Wildcats enter administration

[Patorick]

http://news.bbc.co.uk/sport2/hi/rugby_league/super_league/wakefield/9383611.stm

Wakefield Wildcats have announced they will go into administration in order to avoid a winding-up petition brought by Her Majesty's Revenue and Customs.The club are thought to owe more than £300,000 in unpaid tax and, despite talks with four potential buyers, no deal has been reached. The Wildcats are the second Super League club to go into administration in a little over two months.
And they could now start the new season with an automatic six-point penalty.
That is the statutory punishment, under Rugby Football League rules, for any club entering administration.
But Super League rivals Crusaders received only a four-point penalty when they sought protection from creditors in November, as they agreed to take on some of their existing debt.
This is the third time that the Wildcats have averted a winding-up order in the last two years.
And the Yorkshire club, one of the founder members of the game in 1895, will be hoping that this latest development will not do irreparable damage to their bid to land a new Super League licence in July.
An appeal to fans to raise half a million pounds by the end of January fell well short of the target. And, ahead of Wednesday's deadline, a Wakefield club statement read: "We have not been able to secure the funds necessary to pay the amounts due to HMRC.
"We have no choice but to seek the appointment of an administrator."
The appointment of Peter O'Hara as administrator is expected to be confirmed next Monday (7 February), just five days before the start of the new Super League season.
The club have already expressed their confidence at being able to resolve the current crisis ahead of this season's opener game against local rivals Castleford at the Millennium Stadium on Saturday week.
And this optimism was reiterated in Tuesday's statement.
"We are working with a number of parties who have already expressed an interest in securing the future of the club," it added.
"We wish to see the future of the club resolved as quickly as possible so that the Wildcats can enter the 2011 Super League season with stable financial and commercial foundations.
"With the right ownership and support from the fans and local community we are confident that the club will have a bright and successful future."
Wakefield had hoped to move into a new stadium in 2012.
But plans have been referred to a public inquiry which will force a lengthy delay, casting further doubt over the club's ability to secure a new Super League licence.
With their current Belle Vue home failing to meet the minimum standards, the Wildcats are making plans to share at Oakwell, Barnsley in 2012, in the hope of moving into their new home some time in 2013.

:?

 

[1 Eyed TEZZA]

So its official now, damn.

 

[RedVee]

Why do the English based competitions have a ladder points penalty for entering administration? It is also the case in the soccer I believe.
Isn't going broke enough of a penalty in itself?

 

[Mike_Jets]

It was created to try and stop clubs living outside their means, some football clubs were getting players that were in all honesty too good for the club and paying them too much, then going bankrupt and writting off a large sum of debt.
You get more severe points removal depending on the state of the club and how you come out of admin also.
If they find new buyers and pay off the debt then I dont think points will be deducted, but if they pay nothing (and therefore have been seen to have gained an advantage by not paying) they will be deducted points.

 

[RedVee]

thank you

 

[Goldfields_Titans]

IMO the Wildcats would be best spending their time in the CHampionship and build for years and get a stadium sorted before reapplying for a franchise in 2015.

 

[CC_Roosters]

http://www.superleague.co.uk/article.php?id=21054

http://news.bbc.co.uk/sport2/hi/rugby_league/super_league/wakefield/9394711.stm

Wakey out of administration. Hopefully, the new owner clears out the cobwebs and gives the club a shakeup. I think he is mad to continue the push for a new stadium, sharing with Cas at their new stadia is a chance to reduce both clubs operating costs instead of 2 new stadia a mile down the M62 from each other!

 

[Lambretta]

Why do the English based competitions have a ladder points penalty for entering administration? It is also the case in the soccer I believe.
Isn't going broke enough of a penalty in itself?

Points deductions for entering administration can be a death knell for a club especially where relegations are concerned

Luton Town copped successive penalties in successive years and got relegated each time. They went from 1st division to non league in a few years and whilst their first relgation was because of the poor play on the field because they couldnt afford good players, the other two were a direct result of points deductions. One year they lost 30 points. They got relegated by a margin of about 6 points.

Had they not had the points deductions, chances are they would have stabilised. As it is they were virtually kicked out of existance. It doesn't make a whole lot of sense to me.

Some clubs are forced to sell cheaply to balance their books and long term this means they have to keep finding new talent. A two or three year lean spell and the club is doomed unless you have a massive or rich supporter base to keep you going.

 

[WireMan]

IMO the Wildcats would be best spending their time in the CHampionship and build for years and get a stadium sorted before reapplying for a franchise in 2015.

That will be there plan, but its going to be difficult for them. Widnes look like they will get a franchise but there was an obvious hole for them to come into.

Due to the location of teams especially the amount in Yokshire they would need to replace one of them. I guess if Cas don't build there stadium they may be at risk, or Hull KR if they keep signing Aussies and playing in the caravan park.

There is also Halifax around there who may want a say in any future promotions of Yorkshire teams.

Its going to be tough, but at least there will be a team for fans to support. It looked for a while like there wouldn't be.

 

[Goldfields_Titans]

That will be there plan, but its going to be difficult for them. Widnes look like they will get a franchise but there was an obvious hole for them to come into.

Due to the location of teams especially the amount in Yokshire they would need to replace one of them. I guess if Cas don't build there stadium they may be at risk, or Hull KR if they keep signing Aussies and playing in the caravan park.

There is also Halifax around there who may want a say in any future promotions of Yorkshire teams.

Its going to be tough, but at least there will be a team for fans to support. It looked for a while like there wouldn't be.

Widnes will be dead certs. Can't see Fax replacing another Yorkie club IMO. They Championship needs to be made a bigger spectacle somehow. They could do with their own proper tv contract as well.

 

[RedVee]

Points deductions for entering administration can be a death knell for a club especially where relegations are concerned

Luton Town copped successive penalties in successive years and got relegated each time. They went from 1st division to non league in a few years and whilst their first relgation was because of the poor play on the field because they couldnt afford good players, the other two were a direct result of points deductions. One year they lost 30 points. They got relegated by a margin of about 6 points.

Had they not had the points deductions, chances are they would have stabilised. As it is they were virtually kicked out of existance. It doesn't make a whole lot of sense to me.

Some clubs are forced to sell cheaply to balance their books and long term this means they have to keep finding new talent. A two or three year lean spell and the club is doomed unless you have a massive or rich supporter base to keep you going.

Yes, that is why I was questioning the practice.