Toronto Wolfpack made everyone sit up and take notice on Sunday when they confirmed they had secured a multi-million pound investment into the club.
The deal will see the club boosted by a $10m CAD investment, or alternatively, £5.86m.
However, the club has confirmed a number of other things, including late payments made to players last month.
Here’s everything you need to know.
WHO IS BEHIND THE DEAL?
The new deal will see three Canadian companies become shareholders of the company.
Between them, they will invest the £5.86m. Although the identities of the companies have been withheld, this information is likely to come to light in the future.
What we do know is that as part of the deal, the Wolfpack brand will be used to launch three separate products. One is an isotonic drink, another is an alcoholic beverage and TotalRL understands the third is in the homeopathy market. These products will be distributed in the UK, Canada and Europe, while the Wolfpack will get a percentage of the revenue as part of the deal.
There is also potential for further investment.
DOES THIS CHANGE ANYTHING?
On the surface, no. David Argyle has sold a stake in the club, thought to be in the region of 25%, but will remain chairman and majority shareholder.
Inevitably, such vast investment strengthens the club financially and will open new doors for them moving forward, but what they do with the money remains to be seen.
WHY WERE THE PLAYERS PAID LATE?
Argyle explained to League Express why the issue occurred.
“While we were in the middle of the negotiations and discussions, we needed to focus on those and there were some gaps in meeting the players’ payroll.
“The players have a substantial payment already and will get the balance early next week.
“The club is not happy that there was a delay.”
It is thought players were paid around 40% of their wage last week, and will receive the rest on Monday.
THIS ISN’T THE FIRST MURMURINGS OF FINANCIAL ISSUES, IS IT?
No. Last year a winding-up order was issued against the club by the law firm representing Ryan Bailey in his UKAD case back in 2016.
However, it’s believed that has now been withdrawn.
IS THE CLUB’S LONG TERM FUTURE SECURE?
According to Argyle, most certainly.
Speaking to League Express, he said: “Sometimes we’ve been a bit creaky and it’s needed some oil in the system, but there will always be the oil there to be applied.”
