Casforum • The Leading Castleford Tigers Community

From what is being said.
If l were a share holder, l would be quite annoyed if my shares became devalued to profit someone else via a reallocation effectively taking control without consultation.
The answer does not lie on these pages.
Perhaps it could be raised at the next Q&A if there is no other avenue.
As a mere fan what concerned me was what was alluded to about the new stadium having no safeguards for its future use.
Suggesting it seemed not Cas RFL the stadium becomes owned by the Fultons what a great incentive!!!!
Have l misinterpreted earlier posts.

casjunction wrote: ↑12 Dec 2019, 18:50 From what is being said.
If l were a share holder, l would be quite annoyed if my shares became devalued to profit someone else via a reallocation effectively taking control without consultation.
The answer does not lie on these pages.
Perhaps it could be raised at the next Q&A if there is no other avenue.
As a mere fan what concerned me was what was alluded to about the new stadium having no safeguards for its future use.
Suggesting it seemed not Cas RFL the stadium becomes owned by the Fultons what a great incentive!!!!
Have l misinterpreted earlier posts.

In the other project at glasshoughton, the trust got the ground but the club. Tbh, I thought this was the same.

I sincerely hope that is the case.

Just asking the question, if the fultons did want to sell, do we have a local millionaire to buy us or even a consortium ready to move in?

casjunction wrote: ↑13 Dec 2019, 11:37 I sincerely hope that is the case.

Hudds will know more definitely.

One thing I’m sure of is that Jack Fulton will be turning in his grave he loaned the club lots of money, partly because of his poor over seeing of the club whilst he was at the helm and partly because His Wife and himself loved being part of the club. He was always clear that the money he gave to the club was a loan, but was also very clear that he would take no interest on the loan.
Since Ian as taken over he bent the shareholders over a barrel and they had little choice in handing over all outstanding shares to Ian for a minimal sum. He is now taking interest on the loan around £160000 per year that at the end of the day is father was partly at fault for racking up.
For one I will always be great full to Jack and Bradie for the money they loaned to the club and I am convinced both will be looking down disappointed that Ian is now taking interest on this.

When IF took over from his dad he made a point of saying anyone who thinks i would do anything to the detriment of CTRLFC knowing how much the club meant to my mam and dad are very much mistaken
Maybe if there is a AGM or at the next QandA someone will push him on this

Some good posts there.
I am not sure the interest is 160 k a year and again without an AGM we cannot ask the question.
The accounts shared ( not been sent them yet ) are the filed copy with little detail.
Offence has been taken to me calling an EGM and that’s why he issued a controlling stake.
At the very least buy out the holders so we can move on.

I think it’s very sad.
Robbo

I understand there is a valid reason why the AGM has not been called.
Under the circumstances I am happy that it’s delayed further.
However there should be one at some point in the future.
Robbo

Out of curiosity.
How did you find out about the valid reason.
I presume it must be some form of official channel or private email.
Does the author or originator of the message have some senior official capacity.
If this is the case should future questions on aricles, practice and proceedures be addressed to them.
Not being from or ever having lived in Cas l am not aware of the politics of the club.
I can understand your frustration but it does in my opinion harm rather than help your cause using the forum in this way.
So Seasons Greetings.
Not a great deal to be merry about after yesterday's outcome.
Bah Humbug

casjunction wrote: ↑14 Dec 2019, 10:07 Out of curiosity.
How did you find out about the valid reason.
I presume it must be some form of official channel or private email.
Does the author or originator of the message have some senior official capacity.
If this is the case should future questions on aricles, practice and proceedures be addressed to them.
Not being from or ever having lived in Cas l am not aware of the politics of the club.
I can understand your frustration but it does in my opinion harm rather than help your cause using the forum in this way.
So Seasons Greetings.
Not a great deal to be merry about after yesterday's outcome.
Bah Humbug

There is a very valid reason, nothing sinister, can we leave it there please.

Casmania
I hax left it there.
I did not ask what the valid reason was
However yoyr response would maje me even more curious.
However l am not that concerned.
Until either get their kit on or come up with game plans at their AGM l have little interest just idling away a few out of season minutes.
Seasons Greetings

tigerfeat wrote: ↑13 Dec 2019, 12:35 When IF took over from his dad he made a point of saying anyone who thinks i would do anything to the detriment of CTRLFC knowing how much the club meant to my mam and dad are very much mistaken
Maybe if there is a AGM or at the next QandA someone will push him on this

I recall this being said and he has done exactly what he said he wouldn’t do. If he believes he hasn’t then he is very deluded.

Would also like to know who decided on what the interest would be paid at. Was this just IF telling the club what he wanted or was it done by people who know what they are doing?

Would the club be in the position it is if Jack was still with us? By this I mean paying interest on loans and demanding more shares. I think not.

Also how can all the additional shares be given yet the loans still be in place? We’re the shares given to pay the loans back? If not then why were the shares given in the first place?

mart0042 wrote: ↑13 Dec 2019, 12:14

casjunction wrote: ↑13 Dec 2019, 11:37 I sincerely hope that is the case.

Hudds will know more definitely.

My understanding is that the freehold of the land will be transferred to the club for £1.

In essence, the Fulton family do own the club through shareholding but the ground will be an asset of the club.

Like Wheldon Road at the moment, if the Fulton's called in their debt it would be serviced towards covering debts. That is the same for bank loans or any other creditors. Obviously secured creditors will come first.

I think it is being made more of a fuss than it needs to be. I wouldn't be surprised IMO, as soon as the new stadium is built, that WR will be used to service the debt owed. The plan as far as I know it is that WR will be converted into a training facility but there's no need for the land around it, which could be sold off.

HuddsTigers wrote: ↑15 Dec 2019, 15:01

mart0042 wrote: ↑13 Dec 2019, 12:14

casjunction wrote: ↑13 Dec 2019, 11:37 I sincerely hope that is the case.

Hudds will know more definitely.

My understanding is that the freehold of the land will be transferred to the club for £1.

In essence, the Fulton family do own the club through shareholding but the ground will be an asset of the club.

Like Wheldon Road at the moment, if the Fulton's called in their debt it would be serviced towards covering debts. That is the same for bank loans or any other creditors. Obviously secured creditors will come first.

I think it is being made more of a fuss than it needs to be. I wouldn't be surprised IMO, as soon as the new stadium is built, that WR will be used to service the debt owed. The plan as far as I know it is that WR will be converted into a training facility but there's no need for the land around it, which could be sold off.

Initially, the new stadium was planned to run as a C. I. C (community interest club) however Castleford RLFC was then a public limited company. As I understand due to share allocation and the club now being a private limited company IF will own both WR and the new stadium. Due to the untimely death of both Jack and Bridie Fulton, the club had to work through a difficult process with the executors of the Fulton Estate to secure the clubs future.

I have to say that if that’s correct (and I have no reason to assume that it isn’t) , I’m stunned that the Council would grant a planning permission for a major green belt development with no requirement that the main community gain ( the Stadium) would be safeguarded long term as a community asset. I hope that the stadium site has covenants on to guarantee its long term use for sport

Does anyone really think a new retail park will open there?
Retail as you will see (post Christmas ) in the traditional way is in serious decline.
Funding will never be found to build retail as we stand.
Bad timing again but the cycle is against us.
Let’s hope there is a plan B

Robbo

Robbo wrote: ↑15 Dec 2019, 22:05 Does anyone really think a new retail park will open there?
Retail as you will see (post Christmas ) in the traditional way is in serious decline.
Funding will never be found to build retail as we stand.
Bad timing again but the cycle is against us.
Let’s hope there is a plan B

Robbo

At last years agm, it was stated that a 'plan b' would be looked at, however there was no information/indication of how serious or to what that option may be.

Unfortunately shareholders will not be able to ask about this as I understand there will be NO AGM this year.

I'd be interested to know what any plan B could be
Other than spending a shed load of money trying to get the ground upgraded I can't see what other viable options there would be

I am rather confused not being a shate holder.
But Robbo obviously is and uses the forum to in my opinion vent his spleen as no formal avenue appears available.
If l have misunderstood it's a few years since an AGM was held..
Casmania whom l assume is also a shareholder seemed to indicate an AGM was held last year.
He also seemed to admonish me for mentioning that there was a valid reason for the delay, cancellation, deferment of the AGM
If people post on this forum surely it is there for comment and or debate.
Not for the mods who in general l respect to act as some Orwellian thought police.
I have always wanted the dream to be true but in the real world doubted why anyone would chose to invest millions in such a disadvantaged area.
It never made commercial sense but then again Turkeys have recently voted for Christmas.
So now Brexit will happen
That obstacle is no longer there will the development go ahead.
About as likely as Eton having Rugby League on the curriculum.
It's time to spend money, harness volunteers or whatever.
We are going to be at Wheldon Road for the foreseeable future.
Let's hope the club make a statement soon and action not ling after.
Season Greetings and here to 2020 and many more years at Wheldon Road.
Perhaps we should approach Time Team for Sponsorship.