Guest Posted February 28, 2019 Share Posted February 28, 2019 3 minutes ago, Spidey said: The £10k rent is the one I'm struggling with - doesn't seem a lot in the grand scheme of things, but then why do Widnes owe circa £350k to the council? That's three years rent - must be more to it, things just don't add up (from my simple way of looking at things) Also, interesting to know if the £120k wage bill includes the outgoing directors which could be (if rumours are true) £30k-£40k per month Good points. It might be the council were a soft touch of there is a clause to reduce the rent in the event of relegation, i.e. commensurate with reduced income streams. Even if you boot the directors and assume new management will run it part time for free and then get rid of, say Gelling and Inu - you might still be looking at £60k per month. They still can't even afford that. Seems like these new investors are the key. Link to comment Share on other sites More sharing options...
GUBRATS Posted February 28, 2019 Share Posted February 28, 2019 It is highly unusual for a sports business the size of Widnes to have paid directors , yes if one was taking on the role of CEO/General manager , but normally the board will consist of one or more actually putting the cash in , quite often a soliciter who will work mostly free [ with perhaps some modest costs ] and a financial position [ again unpaid ] who will oversee the cash flow and other issues , ie the actual managing of the staff at the club Anything over a £100K salary for a CEO at that level is extortianate Link to comment Share on other sites More sharing options...
Guest Posted February 28, 2019 Share Posted February 28, 2019 6 minutes ago, GUBRATS said: It is highly unusual for a sports business the size of Widnes to have paid directors , yes if one was taking on the role of CEO/General manager , but normally the board will consist of one or more actually putting the cash in , quite often a soliciter who will work mostly free [ with perhaps some modest costs ] and a financial position [ again unpaid ] who will oversee the cash flow and other issues , ie the actual managing of the staff at the club Anything over a £100K salary for a CEO at that level is extortianate I would like to then see how the IP views that and any report into their conduct, given they would have been paid in preference to other obligations. But I wouldn't hold my breath. I don't know about Hull - but I understand there have been issues with Rule before. Link to comment Share on other sites More sharing options...
GUBRATS Posted February 28, 2019 Share Posted February 28, 2019 10 hours ago, Rupert Prince said: It's no way to fun a business when you have to negotiate with a complete out side body. A club has to negociate with plenty of ' outside bodies ' , Sponsors , corporate , advertisers , players agents , players , councils , so what is the difference ? Link to comment Share on other sites More sharing options...
JonM Posted February 28, 2019 Share Posted February 28, 2019 13 minutes ago, GUBRATS said: Anything over a £100K salary for a CEO at that level is extortianate If comments made by some people associated with the club are correct, salaries for three directors came to around £450k. I'm fairly skeptical on that, just because they'd have been better off taking money out of the club as dividends rather than paying 45% income tax. Link to comment Share on other sites More sharing options...
GUBRATS Posted February 28, 2019 Share Posted February 28, 2019 6 minutes ago, JonM said: If comments made by some people associated with the club are correct, salaries for three directors came to around £450k. I'm fairly skeptical on that, just because they'd have been better off taking money out of the club as dividends rather than paying 45% income tax. As I stated , generally you only have 1 paid director at a business at that level , I really dont understand what 2 others could have been doing for their money ? Link to comment Share on other sites More sharing options...
Dave T Posted February 28, 2019 Share Posted February 28, 2019 10 minutes ago, JonM said: If comments made by some people associated with the club are correct, salaries for three directors came to around £450k. I'm fairly skeptical on that, just because they'd have been better off taking money out of the club as dividends rather than paying 45% income tax. 1 minute ago, GUBRATS said: As I stated , generally you only have 1 paid director at a business at that level , I really dont understand what 2 others could have been doing for their money ? Could this be less a case of proper 'Directors' and more senior management roles with Director in the title? Like Director of Rugby, Commercial Director, plus CEO? Link to comment Share on other sites More sharing options...
Guest Posted February 28, 2019 Share Posted February 28, 2019 8 minutes ago, JonM said: If comments made by some people associated with the club are correct, salaries for three directors came to around £450k. I'm fairly skeptical on that, just because they'd have been better off taking money out of the club as dividends rather than paying 45% income tax. Well, if true - that will bleed a club dry. Nov 10 B/S deficiency £300k Nov 11 B/S deficiency £500k Nov 12 B/S deficiency £900k Nov 13 B/S deficiency £1.4m Nov 14 B/S deficiency £1.2m Nov 15 B/S deficiency £1.4m https://beta.companieshouse.gov.uk/company/06414112/filing-history Snedden, Beech, O'Connor and Rule appointed as Directors in July 2013 and seems allotted shares about the same time. So - to be fair - by Nov 13 they were already running a balance sheet deficit about the same as that at Nov 17 (the last filed accounts). Of course that doesn't mean that they might not have taken salaries that impacted upon squad funds without making things worse, but the problems seem to have been there already. Link to comment Share on other sites More sharing options...
Guest Posted February 28, 2019 Share Posted February 28, 2019 The accounts seem to show the new shares were purchased for their nominal value, i.e. £1 each. So £1,000 in total. They weren't putting in money via shares. I would wonder if the £370k alleged written off is unpaid salaries and not money put in? All speculation though with no basis. The above shows they certainly don't seem to have come in and paid of the debts that were around in 2012/2013 (unless they funded running costs), so it is hard to see where any "investment" came from. Link to comment Share on other sites More sharing options...
Rupert Prince Posted February 28, 2019 Share Posted February 28, 2019 2 hours ago, GUBRATS said: A club has to negociate with plenty of ' outside bodies ' , Sponsors , corporate , advertisers , players agents , players , councils , so what is the difference ? The sponsors give over the money and it's up to the club to spend as they want for one thing. The club have worked to attract the sponsors. Link to comment Share on other sites More sharing options...
tuutaisrambo Posted February 28, 2019 Share Posted February 28, 2019 So still no news then? I see my clubs PR machine is as slick as usual Link to comment Share on other sites More sharing options...
Bomb Jack Posted February 28, 2019 Share Posted February 28, 2019 I think to publicly Tweet Widnes like that, instead of either phoning or e mailing the Club, was an insensitive thing to do. Although I liked one of the reply's which said "We have 10 year olds giving their pocket money to save the Club, it seems Fev have a 10 year old in charge of their Social Media"! Widnes - Cheshire's Original Glamour Club. Link to comment Share on other sites More sharing options...
tuutaisrambo Posted February 28, 2019 Share Posted February 28, 2019 Yeah clearly they are not happy with the lack of info.......a quick look on twitter tells you if there's no takeover today then the game is off so there's a deadline to work to. the fact that they've put a grumpy emoji on there though Link to comment Share on other sites More sharing options...
tuutaisrambo Posted February 28, 2019 Share Posted February 28, 2019 6 minutes ago, Bomb Jack said: I think to publicly Tweet Widnes like that, instead of either phoning or e mailing the Club, was an insensitive thing to do. Although I liked one of the reply's which said "We have 10 year olds giving their pocket money to save the Club, it seems Fev have a 10 year old in charge of their Social Media"! You would hope they tried ringing before sending that out Link to comment Share on other sites More sharing options...
fevtom Posted February 28, 2019 Share Posted February 28, 2019 I have sympathy for the Widnes situation but that doesn't excuse the lack of communication here. If they can't get a game on at the moment I fully understand but they really should be confirming it one way or another by now. I know it's in the hands of the administrators now but surely someone has to make a decision eventually. Link to comment Share on other sites More sharing options...
JonM Posted February 28, 2019 Share Posted February 28, 2019 18 minutes ago, fevtom said: I have sympathy for the Widnes situation but that doesn't excuse the lack of communication here. Seems like they're a bit busy dealing with the people who're losing their jobs at the moment. Wigan managed to have our 2017 home fixture with them moved forward a few months at a few hours notice, so I expect Fev fans can hang on a couple more hours to see whether the game is on. I'd assume it's likely to be off if there's no white smoke in the next couple of hours. Link to comment Share on other sites More sharing options...
JonM Posted February 28, 2019 Share Posted February 28, 2019 34 minutes ago, tuutaisrambo said: You would hope they tried ringing before sending that out You would hope that James Rule didn't take the phones with him. Link to comment Share on other sites More sharing options...
tuutaisrambo Posted February 28, 2019 Share Posted February 28, 2019 The Sheffield game was officially delayed last thursday morning......presumable after discussions earlier in the week with the RFL and Sheffield.....the tweet is insensitive but i assume it's gone out because the club aren't being told anything.......which is hard to understand. i've seen on twitter Mat Shaw saying if there's no takeover today then it's off so fev should have been informed of that at least Link to comment Share on other sites More sharing options...
GUBRATS Posted February 28, 2019 Share Posted February 28, 2019 4 hours ago, Dave T said: Could this be less a case of proper 'Directors' and more senior management roles with Director in the title? Like Director of Rugby, Commercial Director, plus CEO? As I put Dave , apart from a CEO , I cannot imagine what anybody else at a club the size of Widnes could have been doing to command anything over a £ 40 K salary , and unlikely they would be classed as directors , if they were getting the figures suggested , then given Widnes's obvious lack of off field performance , they werent earning it Link to comment Share on other sites More sharing options...
Angelic Cynic Posted February 28, 2019 Share Posted February 28, 2019 1 hour ago, Bomb Jack said: I think to publicly Tweet Widnes like that, instead of either phoning or e mailing the Club, was an insensitive thing to do. Although I liked one of the reply's which said "We have 10 year olds giving their pocket money to save the Club, it seems Fev have a 10 year old in charge of their Social Media"! I've seen that the Widnes fans have taken umbrage to the tweet,but I took it as the Featherstone club responding to their supporters and trying to keep them in the loop - before,perhaps,they take time off work or book transport to a game which may be postponed;at best.Or letting their players know by the quickest means. I understand the tense feelings at the moment but I don't think Featherstone are the bad guys they are being made out to be. No reserves,but resilience,persistence and determination are omnipotent. Link to comment Share on other sites More sharing options...
GUBRATS Posted February 28, 2019 Share Posted February 28, 2019 3 hours ago, Rupert Prince said: The sponsors give over the money and it's up to the club to spend as they want for one thing. The club have worked to attract the sponsors. Irrelivant really , I would be guessing but essentially VIQI will sit on the money [ but probably inform the club how much they have ] until the club [ or whoever is deemed with running the club ] request funds off them , the committee of VIQI will then either accept the request or not as is their perogative [ normally it would be a positive response , but in this situation it might not be ] , but ultimatly the money will find its way to the club , as that is what it has been donated for Link to comment Share on other sites More sharing options...
David Shepherd Posted February 28, 2019 Share Posted February 28, 2019 Not looking good. James Gordon on Twitter just now: "It would appear that the consortium were still short of the administrators demands, staff redundancies and now sadly it seems some player exits trying to bridge that gap. Players have been called in individually for meetings now." https://twitter.com/jdgsport?lang=en Link to comment Share on other sites More sharing options...
JonM Posted February 28, 2019 Share Posted February 28, 2019 Gareth Walker (on twitter) says coach and all backroom staff have been made redundant. Sounds like most players have been told they can leave too, although he doesn't say that. Also says that there is a deadline of tomorrow lunchtime for whether the Fev game goes ahead. I struggle to see how that is possible even if a new company is formed by then. Link to comment Share on other sites More sharing options...
chuffer Posted February 28, 2019 Share Posted February 28, 2019 ffs..... Link to comment Share on other sites More sharing options...
tuutaisrambo Posted February 28, 2019 Share Posted February 28, 2019 Link to comment Share on other sites More sharing options...
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