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Red's for sale!


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130 replies to this topic

#21 OttO

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Posted 09 May 2013 - 10:00 AM

thing is derwent park aint a world cup stadium,the reds ground would be alot better for both clubs to share and invest in. 

 

Get over it, Derwent Park is a World Cup stadium thanks to our neighbours down the road. :lol:


"i hate workington town fans with a passion they are the biggest cry babies in rl and boy do they get jealous easy"- Choccy 2012

"if it wernt for me they would have nowt at all to talk about" - Choccy 2012

#22 rockerlad

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Posted 09 May 2013 - 10:20 AM

But those shares will be a paper value and won't be worth that in reality unless the club makes bumper profits.

Is the grandstand fully funded or do reds need to make a contribution? If they do how much is that contribution and do they have that sitting in their bank account?

Reds have to contribute £100k we get a grant for just being members of the conference and I believe the rest had been obtained from the energy coast fund.
As some one else has said the new stadium is gone dead a burried. It's like mentioning the war to a German talking about the shared stadium on here.
We will see what happens in the coming weeks.
Best of luck for Sunday. Do Cumbria proud!

#23 havenhater

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Posted 09 May 2013 - 11:14 AM

Hahahaven at least we have a World Cup stadium, jampots was a crayon drawn plan which cost some many hundred thousand quid

#24 town4me

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Posted 09 May 2013 - 11:54 AM


thing is derwent park aint a world cup stadium,the reds ground would be alot better for both clubs to share and invest in.

oh dear another jampot username. DP is a WC stadium as we are hosting it because you lot failed miserably again.

#25 dkw

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Posted 09 May 2013 - 12:09 PM

oh dear another jampot username. DP is a WC stadium as we are hosting it because you lot failed miserably again.

And once again we as a club had to uphold the honour and integrity of the game in our ara, and to save us from more shameful failure of Whitehaven RLFC/Whitehaven 2010/2014 or whatever it will be next year.



#26 Keith T

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Posted 09 May 2013 - 05:09 PM

It seems a bit melodramatic in tonights N & S saying that Reds could go out of business in weeks if a new investor isn't found.    I thought the direcxtors were staying on until an investor was found!!!!!


I remember when .............................

"It is impossible not to feel a twinge of sympathy for Workington Town, the fall guys this season for the Super League's determination to retain it's European dimension, in the shape of Paris. While the French have had every assistance to survive, the importance of having a flagship in a heartland area like West Cumbria has been conveniently forgotten." - Dave Hadfield - Independent 25th August 1996.


#27 rockerlad

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Posted 09 May 2013 - 05:12 PM

Nope Keith, they are stepping down in 2 weeks. Either current share holders forum a BOD or the club is wound up.

#28 GeordieTownie

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Posted 09 May 2013 - 05:14 PM

Why do they need anyone to invest if they have so much money?

#29 rockerlad

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Posted 09 May 2013 - 05:19 PM

HD is stepping down due to ill health. And the other two guys have had enough. Between the Three of them I don't think they own that many shares. It will be a case of if none of the other share holders form a BOD they will wind they club up.
Personally I can't see dale brotherton just letting the club fold he had somewhere between 50-60,000 tied up in shares

#30 GeordieTownie

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Posted 09 May 2013 - 05:31 PM

So they're looking for new directors not new investors?

#31 rockerlad

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Posted 09 May 2013 - 05:35 PM

Both really. They money in the bank will only last for so long.

#32 GeordieTownie

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Posted 09 May 2013 - 06:24 PM

If that's the case it must be losing money is it?

And if so, why would an 'investor' put anything in as he is sure to have to foot the bill when the existing cash is spent.

Is it a case that the existing board have got their money back from the bridge money and are getting out before they lose it again?

#33 rockerlad

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Posted 09 May 2013 - 06:32 PM

I don't know GT I am not a share holder so don't know.
What I do know is that they are old men, who should now be sat Witt their feet up not running a
Football club.

#34 Keith T

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Posted 09 May 2013 - 06:42 PM

Going by what Alec Graham says in tonight's N & S they need £300,000 per year just to break even.    That's a tidy sum to have to find each season.


I remember when .............................

"It is impossible not to feel a twinge of sympathy for Workington Town, the fall guys this season for the Super League's determination to retain it's European dimension, in the shape of Paris. While the French have had every assistance to survive, the importance of having a flagship in a heartland area like West Cumbria has been conveniently forgotten." - Dave Hadfield - Independent 25th August 1996.


#35 rockerlad

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Posted 09 May 2013 - 06:48 PM

Certainly is Keith, I think romar sponsor £15k a season. At the fans forum at the start of this season HD told the fans he had wrote the
Club a cheque for £25k to pay the travel costs for the season.

#36 GeordieTownie

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Posted 09 May 2013 - 07:04 PM

And with the average attendance being so low it's hard to see how long the existing cash could last before the club needs another cash injection.

Very sad situation but not a very attractive proposition for an investor.

#37 town4me

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Posted 09 May 2013 - 07:05 PM


Both really. They money in the bank will only last for so long.

all the more reason for one multi use stadium in workington staging events as well as footy and RL.

#38 GeordieTownie

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Posted 09 May 2013 - 07:06 PM

Agreed

#39 rockerlad

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Posted 09 May 2013 - 07:16 PM

It has never been ran like a buisiness tho. Real business men could make it viable.
There is teams in our league with lower gates than us.

#40 Keith T

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Posted 09 May 2013 - 07:46 PM

It has never been ran like a buisiness tho. Real business men could make it viable.
There is teams in our league with lower gates than us.

 

I don't know about that rockerlad, it certainly looks as if it has been run like a business going by the figures on Company Check website.

 

In May 2012 - cash at bank £110,000; liabilities £16,000;  net worth £166,000 and assets of £115,000.

 

http://companycheck....ompany/00176420


I remember when .............................

"It is impossible not to feel a twinge of sympathy for Workington Town, the fall guys this season for the Super League's determination to retain it's European dimension, in the shape of Paris. While the French have had every assistance to survive, the importance of having a flagship in a heartland area like West Cumbria has been conveniently forgotten." - Dave Hadfield - Independent 25th August 1996.





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