Wakey to get new ground maybe

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Re: Wakey to get new ground maybe

Post by mart0042 » 22 Mar 2019, 10:54

Am I missing something in this matter?

Wakey secure loan to council to buy back ground without collateral and get land around it as well for one relatively small cost?

Who is paying for the upgrades, they aren't going to be cheap?

Where is the money coming from (for the upgrade) , I recall they couldn't get a loan due to previous issues?

The bloke with the benidorm flats got royally done over, who's going to do the work? Will the council have to guarantee that?

Can the council stand to lose the money should it not, be repaid, let's say on relegation?

Wakey, like us, are pretty much at their peak rugby standing wise. We are top 4 but not likely to win 8 grand finals in the next 10 years, we know other clubs will spend big, get it together and we'll drop.

Is it right to gamble so much on 4000 supporters, when they are cutting its services which will cause potential suffering for many more?

Would be interested to see the figures to see if we can make a quality training centre for our cheap loan if required.

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Re: Wakey to get new ground maybe

Post by duke street 10 » 22 Mar 2019, 11:42

mart0042 wrote:Am I missing something in this matter?

Wakey secure loan to council to buy back ground without collateral and get land around it as well for one relatively small cost?

Who is paying for the upgrades, they aren't going to be cheap?

Where is the money coming from (for the upgrade) , I recall they couldn't get a loan due to previous issues?

The bloke with the benidorm flats got royally done over, who's going to do the work? Will the council have to guarantee that?

Can the council stand to lose the money should it not, be repaid, let's say on relegation?

Wakey, like us, are pretty much at their peak rugby standing wise. We are top 4 but not likely to win 8 grand finals in the next 10 years, we know other clubs will spend big, get it together and we'll drop.

Is it right to gamble so much on 4000 supporters, when they are cutting its services which will cause potential suffering for many more?

Would be interested to see the figures to see if we can make a quality training centre for our cheap loan if required.
This is a guess, but i think they will continue to chase Yorkcourt for the money,and with this Wakefield F.C coming on board they could secure some funding for the upgrade through the F.A and the Football trust?

You would hope before handing over the money the council will have written in plenty of clauses,and penalties if they default.

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Re: Wakey to get new ground maybe

Post by WallTiger » 22 Mar 2019, 17:46

Apparently Rodney Walker is involved in Wakefield FC in some capacity!? If this is true then wouldn’t be surprised if he’s behind securing the loan and no doubt will be tapping up his vast array of contacts to secure grants/funds for redevelopment.

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Re: Wakey to get new ground maybe

Post by lurcher » 23 Mar 2019, 15:32

duke street 10 wrote:
mart0042 wrote:Am I missing something in this matter?

Wakey secure loan to council to buy back ground without collateral and get land around it as well for one relatively small cost?

Who is paying for the upgrades, they aren't going to be cheap?

Where is the money coming from (for the upgrade) , I recall they couldn't get a loan due to previous issues?

The bloke with the benidorm flats got royally done over, who's going to do the work? Will the council have to guarantee that?

Can the council stand to lose the money should it not, be repaid, let's say on relegation?

Wakey, like us, are pretty much at their peak rugby standing wise. We are top 4 but not likely to win 8 grand finals in the next 10 years, we know other clubs will spend big, get it together and we'll drop.

Is it right to gamble so much on 4000 supporters, when they are cutting its services which will cause potential suffering for many more?

Would be interested to see the figures to see if we can make a quality training centre for our cheap loan if required.

This is a guess, but i think they will continue to chase Yorkcourt for the mone
y,and with this Wakefield F.C coming on board they could secure some funding for the upgrade through the F.A and the Football trust?

You would hope before handing over the money the council will have written in plenty of clauses,and penalties if they default.
i'm sure i read awhile ago that MC's idea was to borrow the money but only pay the interest on it and in the meantime chase yorkcourt for the lump sum.
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Re: Wakey to get new ground maybe

Post by lurcher » 23 Mar 2019, 15:38

"we continue to be in active discussions with a number of other parties" = we have numerous begging bowls out there ;)
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Re: Wakey to get new ground maybe

Post by mart0042 » 25 Mar 2019, 10:37

duke street 10 wrote:
mart0042 wrote:Am I missing something in this matter?

Wakey secure loan to council to buy back ground without collateral and get land around it as well for one relatively small cost?

Who is paying for the upgrades, they aren't going to be cheap?

Where is the money coming from (for the upgrade) , I recall they couldn't get a loan due to previous issues?

The bloke with the benidorm flats got royally done over, who's going to do the work? Will the council have to guarantee that?

Can the council stand to lose the money should it not, be repaid, let's say on relegation?

Wakey, like us, are pretty much at their peak rugby standing wise. We are top 4 but not likely to win 8 grand finals in the next 10 years, we know other clubs will spend big, get it together and we'll drop.

Is it right to gamble so much on 4000 supporters, when they are cutting its services which will cause potential suffering for many more?

Would be interested to see the figures to see if we can make a quality training centre for our cheap loan if required.
This is a guess, but i think they will continue to chase Yorkcourt for the money,and with this Wakefield F.C coming on board they could secure some funding for the upgrade through the F.A and the Football trust?

You would hope before handing over the money the council will have written in plenty of clauses,and penalties if they default.
The new football club will be starting at the bottom. They won't be bringing much in certainly fans. I can't see the fa pumping the millions into the ground it needs four a startup, when they are only tenants.

If yorkcourt go bust, they owe nothing, I'm pretty sure they owe nothing as its not hit the percentage to make therm build the ground. So they've broken no agreement. That leaves the loan and payments to be paid.

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Re: Wakey to get new ground maybe

Post by mart0042 » 25 Mar 2019, 10:39

WallTiger wrote:Apparently Rodney Walker is involved in Wakefield FC in some capacity!? If this is true then wouldn’t be surprised if he’s behind securing the loan and no doubt will be tapping up his vast array of contacts to secure grants/funds for redevelopment.
Can't believe wakey would want him anywhere near.

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Re: Wakey to get new ground maybe

Post by mart0042 » 25 Mar 2019, 10:42

The chances are they'll get nowt from YorkCourt unless they want something in return like greenbelt land and planning permission.

This leaves the question, where is the money coming from to upgrade the stadium?

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Re: Wakey to get new ground maybe

Post by HuddsTigers » 10 Apr 2019, 13:47

In the spirit of the final Blackadder episode - Goooodbyeee!

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Re: Wakey to get new ground maybe

Post by TT Tiger » 10 Apr 2019, 14:21

So if trinity default and the council don’t get their money they are left with some not worth the value of the loan. I believe these are called ‘sub prime’ also known as irresponsible lending and what lead to to the last resession. Including the collapse of northern rock and others. Well done WMDC

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Re: Wakey to get new ground maybe

Post by Tigerade » 10 Apr 2019, 14:24

HuddsTigers wrote:Just going to leave this here....

https://www.wakefieldexpress.co.uk/news ... -1-9703559
Interesting that Hudds. Quick fag-packet calculation I get is 288K (inc Interest) paid back to WMDC every year over 15 years. That's a huge amount to pay. Still no word on where the actual money is coming from for the re-build.

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Re: Wakey to get new ground maybe

Post by tigerfeat » 10 Apr 2019, 14:32

Oh aye ..who can hazard at a guess how this will all end up ?
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Re: Wakey to get new ground maybe

Post by JIN JER » 10 Apr 2019, 15:32

tigerfeat wrote:Oh aye ..who can hazard at a guess how this will all end up ?
Wishful thinking tigerfeat?:)

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Re: Wakey to get new ground maybe

Post by duke street 10 » 10 Apr 2019, 16:00

Tigerade wrote:
HuddsTigers wrote:Just going to leave this here....

https://www.wakefieldexpress.co.uk/news ... -1-9703559
Interesting that Hudds. Quick fag-packet calculation I get is 288K (inc Interest) paid back to WMDC every year over 15 years. That's a huge amount to pay. Still no word on where the actual money is coming from for the re-build.
Sounds a lot, but we aren't sure how much rent they were paying to 88m or The Bank of Ireland before that. Also they have the deeds now.

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Re: Wakey to get new ground maybe

Post by lurcher » 10 Apr 2019, 22:47

JIN JER wrote:
tigerfeat wrote:Oh aye ..who can hazard at a guess how this will all end up ?
Wishful thinking tigerfeat?:)
maybe based on previous history though jinj, different regime i know but thats exactly what a lot of people will be thinking. you can't really blame them if they do even though i know you've been at pains before to try and explain things. mud sticks.
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Re: Wakey to get new ground maybe

Post by JIN JER » 11 Apr 2019, 09:19

lurcher wrote:
JIN JER wrote:
tigerfeat wrote:Oh aye ..who can hazard at a guess how this will all end up ?
Wishful thinking tigerfeat?:)
maybe based on previous history though jinj, different regime i know but thats exactly what a lot of people will be thinking. you can't really blame them if they do even though i know you've been at pains before to try and explain things. mud sticks.
As you say Lurcher we've been here before, but, I've a lot more faith in Carter than past owners. In his first season in charge he cut costs to the bone, running with a very weak squad with potential relegation. If it goes [REMOVED] up it's ce la vie, it is after all only a game/sport/pastime. But I don't think it will.

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Re: Wakey to get new ground maybe

Post by casjunction » 11 Apr 2019, 16:35

Still doesn't sit well.
Local authority loaning money to a private company
Repayments at what amounts to less than the inflation rate.
I presume it is fixed for the term of the loan.
Interest rate lower than the increase in Council tax.
If l has a business in WMD and needed a loan.
I would be around at the Council office in a flash for a loan on similar terms and conditions.
Can't blame Trinity for snapping their hands off.

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Re: Wakey to get new ground maybe

Post by Tigerade » 11 Apr 2019, 17:55

A positive way of looking at it is if we don't get the move to Glasshoughton - then a loan of a similar amount and same interest rate over a similar pay-back period would be available to us. I recon we would only need the main stand re-building and a seating area at the railway end. A loan of 3.15 million would cover most of that IMO.

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Re: Wakey to get new ground maybe

Post by mart0042 » 12 Apr 2019, 09:41

With teams rarely making money, £268k.before upkeep of the ground, nevermind any rebuilding will put them in a perilous position. The upgrade of contracts will make it harder. Fifita for one.

They will need a couple of thousand extra supporters maybe to just break even. They are a likely to be at the top of their game at the moment, like us, where is that going to come from? If there's little support when times are good.then there's going to be panic later.

I'm struggling to see that the people who passed the agreement, won't be held to account later. Lending money they haven't got, against a stadium that only covers half the loan amount and to a private company that can't get a loan from normal sources due to previous bad management and no collateral. It sets a dangerous precedent.


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