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Widnes
Post Tue Feb 19, 2019 6:37 pm
Posted by Bull Mania on Tue Feb 19, 2019 6:37 pm
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Tweet from Gary Carter

"I’m told no player or member of staff at Widnes will be paid tomorrow after the collapse of a takeover bid. If investment is not secured by Feb 25, the club risks falling into administration. Club will meet players and staff tomorrow."

Isn't sounding or looking good. Hope they get through it.
Re: Widnes
Post Tue Feb 19, 2019 7:15 pm
Posted by Bull Mania on Tue Feb 19, 2019 7:15 pm
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Now confirmed by Widnes staff won't be paid tomorrow.


Widnes Vikings would like to update members, supporters and partners on the club’s current financial situation.

Widnes Vikings have been facing a significant cash-flow gap, which must be resolved in the coming days.

Throughout the past three months, Widnes Vikings’ Board of Directors and senior staff members have made extensive efforts to engage business leaders and individuals to secure investment to stabilise the club and overcome the potential threat of administration. This has included the Board writing off more than £370,000 worth of loans that they had provided to the club throughout their tenure.

It had appeared likely that a consortium of investors would take ownership of the club today, providing the necessary investment to secure the club’s future stability. However, at a late stage, a key member of this consortium have withdrawn from this process. As a result, the club has, as yet, failed to secure the necessary investment and is unable to make its payroll commitments for all employees tomorrow.

Efforts to secure investment remain ongoing and we will continue to pursue all available avenues. The club continues to invite other expressions of interest from individuals or groups that may wish to support Widnes Vikings at this time.

The club is taking advice in response to this matter. Widnes Vikings continue to trade and, at this stage, our scheduled fixture against sheffield will go ahead
Re: Widnes
Post Wed Feb 20, 2019 8:17 am
Posted by Bullseye on Wed Feb 20, 2019 8:17 am
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Thought they got a parachute payment on relegation?

Feel for the Widnes fans, players and staff. Hopefully they can avoid administration.
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Re: Widnes
Post Wed Feb 20, 2019 8:36 am
Posted by zapperbull on Wed Feb 20, 2019 8:36 am
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Makes you wonder where the parachute payment went with problems this early on in the season.
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Re: Widnes
Post Wed Feb 20, 2019 9:05 am
Posted by Bullseye on Wed Feb 20, 2019 9:05 am
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Just wondered if the £370k write off of debt was done using the parachute payment?
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Re: Widnes
Post Wed Feb 20, 2019 3:46 pm
Posted by rugbyreddog on Wed Feb 20, 2019 3:46 pm
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It mentions that they are taking advice. I hope for their sake it's not from the RFL.
Hope it works our for them because if I remember correctly they were one of the few sides that really helped us out when we were in trouble.
Re: Widnes
Post Wed Feb 20, 2019 5:23 pm
Posted by Highlander on Wed Feb 20, 2019 5:23 pm
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zapperbull wrote:
Makes you wonder where the parachute payment went with problems this early on in the season.


Was there a parachute payment? I seem to remember it isn't guaranteed and has to be voted on by the remaining 11 as it comes out of their central funds?
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Re: Widnes
Post Wed Feb 20, 2019 6:22 pm
Posted by thepimp007 on Wed Feb 20, 2019 6:22 pm
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rugbyreddog wrote:
It mentions that they are taking advice. I hope for their sake it's not from the RFL.
Hope it works our for them because if I remember correctly they were one of the few sides that really helped us out when we were in trouble.


Definitely, thought O'Conner gave us 10k
Re: Widnes
Post Wed Feb 20, 2019 8:13 pm
Posted by Molsk111 on Wed Feb 20, 2019 8:13 pm
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Yes he did give £10,000 I remember
Re: Widnes
Post Wed Feb 20, 2019 10:01 pm
Posted by Fr13daY on Wed Feb 20, 2019 10:01 pm
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thepimp007 wrote:
Definitely, thought O'Conner gave us 10k


Jeez, they won't want it back now will they?

Maybe we could give them £10k of those Lightbox 'http://www.bradfordbulls.co.uk/article/50770/bradford-bulls-lightbox' things in lieu of payment?
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