Administration is all about trying to save the business as a going concern, rather than an assets sell-off and liquidation.



That would sort of mean that you'd need to keep the playing staff?



And anyway, the assets on a prudent basis have zero value (despite what the Hull FC accountants seem to think) because neither the club nor the administrator is free to sell the players to whom they want. The player has to agree personal terms as well for that to happen, so the playing contract is only an asset if the player chooses it to be.



Would you be happy if your employer "sold" your contract to Patagonian Enterprises of Patagonia?



And, for an indication of how much a playing contract is really worth as an asset, Ladies and Gentleman I give you Toerag.

Looks like they will be ok given the interested party... www.westyorkshirewindows.co.uk/l ... m/2011/02/ Next, Mike from Mike's carpets will be putting an offer in for the Rhino's. I could see this situation repeating itself if these bunch take control.

Looks like they will be ok given the interested party... www.westyorkshirewindows.co.uk/l ... m/2011/02/ Next, Mike from Mike's carpets will be putting an offer in for the Rhino's. I could see this situation repeating itself if these bunch take control.

Quote Jimmybull="Jimmybull"Looks like they will be ok given the interested party... www.westyorkshirewindows.co.uk/l ... m/2011/02/ Next, Mike from Mike's carpets will be putting an offer in for the Rhino's. I could see this situation repeating itself if these bunch take control.'" Buy one get one free!??? Watch out Cas!

Quote Jimmybull="Jimmybull"Looks like they will be ok given the interested party... www.westyorkshirewindows.co.uk/l ... m/2011/02/ Next, Mike from Mike's carpets will be putting an offer in for the Rhino's. I could see this situation repeating itself if these bunch take control.'" Buy one get one free!??? Watch out Cas!

Jedward in the centres?

So basically Wakefield can carry on as normal this season? Is that right? I don't really understand why this is a problem. I am not being deliberately thick.

Do they have their debts wiped out and are free to carry on as they are?

Will there be a points deduction?

there will be a points deduction.

But will the RFL go for more than four?

Can they go for more than 4? What did they base Crusaders deduction on? Surely it's the same situation and the punishment has to be the same

There £750,000 investment

Hmmmm.....well apparently they have investment, maybe not as much but we shall see.

RFL could have given Crusaders a maximum 6 point deduction. They were lenient because new owners agreed to pay back a portion of crusaders debts instead of just letting administration wipe the entire debt.

So it's looking like Wakefield will be hit for six then?

its possible although think rfl might just give them same to avoid having to make a big deal out of fact they were lenient on crusader ( which they didnt shout from rooftops at them time)

The RFL being consistent









They have to go for the four IMO otherwise it opens up a big can of worms.

I agree, I think they will give them the same punishment. If not it would look too much like favouritism IMO

Feel sorry for Wakey fans.



Not a good thing for Rugby League at all.

No way would they dare give more than a 4 point deduction, it would be bedlam.

Four points deduction is the least of their problems with the Franchise decision coming up soon

Perhaps Castleford, Wakefield Trinity and Featherstone Rovers should form Calder

I don't. Generally they are a bunch of in-bred buffoons with no idea what they are talking about. The only fans in the game I would feel less sorry for are those from Warrington.







I agree on this.

Yep two Super league clubs entering administration before a balls been kicked in anger is a brilliant advert for the sport - not - and has unsurprisingly been given more coverage in the national press than the World Cup launch.

A quick guide to administration.



1. It doesn't automatically terminate contracts of employment (unlike liquidation)



2. An administrator is free to dismiss/retain employees as he sees fit.



3. If an administrator does nothing for 14 days after his appointment he is deemed to have retained employees



4. If an administrator retains employees they now have 'super-priority' as creditiors. This means that their wages will be paid as a first slice of the company's assets (even before the administrator's own fees)



5. The administrator's job is either to (i) ensure survival of the company (rare) (ii) or get a better result for creditors than liquidation or (iii) make a distribution (payment) to secured creditors (banks)



6. The administrator usually achieves his aim by selling the assets of the company to a third party.



7. The players themselves are not assets, but the right to their services under their contracts of employment are. However, as Adey says, the fact is you cannot force someone to work for someone else, therefore the value in the accounts is zero.



8. If the assets are sold to a third party them employees transfer to the third party under TUPE rules. This means that all players are likely to be transferred to the new business



9. If the a buyer has already been found and a deal done or virtually done this is known as a 'pre-pack'



Hope this clarifies things a bit.

Brill concise summary IMO moorey. I've copied that for future use, if you don't mind, since its far more structured and concise than my usual wafflings.



I did not know about #3, so maybe I can book reading this thread as verifiable CPD...?

What about those supporters who have bought season tickets from the old set up?

You are a mean-spirited git at times.