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Post by earlybath on Nov 4, 2020 9:06:10 GMT
I just don`t understand why the creditors would have gone with CVA without the involvement of the Doctor.
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Post by bonitared on Nov 4, 2020 9:50:53 GMT
I just don`t understand why the creditors would have gone with CVA without the involvement of the Doctor. Good point. At the time,JW will have thought his money was dead. A CVA,if it produced anything,was a bonus. It didn’t. The Council/Stadium company needed a continuing tenant to preserve the site value. Smaller creditors didn’t have a say |
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Post by Astleyred on Nov 4, 2020 13:10:19 GMT
To the untrained financial eye, isn't this a very crude move by Andy Rosseler and Paul King?
Default on a CVA and take the punishment in a season where it means very little, no relegation or no chance of a GF?
Debts wiped, club starts afresh and becomes more attractive to new investors.
I would say a masterstroke, no?
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Post by earlybath on Nov 4, 2020 16:41:31 GMT
Agree Astley Red as I think I have got to the bottom of the plan.
The CVA excluded such as John Wilkinson but included the Council and HMRC.
Very clever move by our Board to suffer the penalty in this meaningless year. Just hope the Council will not harp back to the old debt when negotiating further contracts.
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Post by kilop on Nov 4, 2020 17:27:05 GMT
So is this public money we have defaulted on?
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Post by bonitared on Nov 4, 2020 17:31:35 GMT
Public and private money like virtually every cva.
John Wilkinson has every right to be regarded as a hero for this club and the majority of the debt was to him.
I think I’m right in saying that all the debts in question were run up under his ownership .
The club was never going to have the resources to pay off these debts
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Post by Deleted on Nov 4, 2020 18:32:01 GMT
So is this public money we have defaulted on? Think some of it as least. The lunatics at the Town Hall would only waste on more virtue signaling pavement art. |
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Post by JJR on Nov 4, 2020 22:33:36 GMT
The Club will effectively generate money for the City,
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Post by kilop on Nov 5, 2020 8:18:32 GMT
So is this public money we have defaulted on? Think some of it as least. The lunatics at the Town Hall would only waste on more virtue signaling pavement art. I didn’t realise it was public money, if so that’s terrible and their needs to be some sort of investigation into it. |
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Post by JJR on Nov 6, 2020 21:49:57 GMT
The 6 points gives us more stability and was the opportunity we couldn't miss
But the Hull kr match, Warrington and the 6 points and in the play off. But good season nevertheless and they look on their last legs, so mucho resto now.
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Post by Rossy on Nov 8, 2020 14:17:42 GMT
Did anyone watch Watto interview after wakefield game?
He mentioned about a few people being intrested in the club but now with this CVA gone there could be more intrest
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Post by reddevil89 on Nov 8, 2020 14:23:34 GMT
Fingers crossed, we have come a long way in recent years, think investment will take us up another gear
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Post by Deleted on Nov 8, 2020 15:12:27 GMT
Read something yesterday that Hull KR are going down a different route to find backers, think it was along the lines of an asset/wealth management group getting involved.
Found it
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Post by bonitared on Nov 8, 2020 18:59:09 GMT
Interesting.
As private equity invests,rather than donates,it’s difficult to see how this would fly
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Post by JJR on Nov 8, 2020 20:22:21 GMT
Lose total control of the Club if taken over by money vultures: Manchester Reds
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