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Widnes
Post Tue Feb 19, 2019 7:24 pm
Posted by Bull Mania on Tue Feb 19, 2019 7:24 pm
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Players not getting paid tomorrow. Heartbreaking and hope they get through this.

"
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 However, at a late stage, a key member of this consortium have withdrawn from this process.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 a head."
Re: Widnes
Post Tue Feb 19, 2019 7:29 pm
Posted by Pats plastic pitch on Tue Feb 19, 2019 7:29 pm
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Absolutely gutted, lost for many words.

The outgoing board have pocketed and bled the club dry, we get relegated and the money dries up and all 4/5 directors have jumped ship.

Administration and points deduction probably on its way. Gelling, Hood, Inu plus more will be up for grabs and our fantastic academy system will fall to pieces.

Nobodies fault but the clowns who have been running us. Praying for a solution.
Re: Widnes
Post Tue Feb 19, 2019 7:39 pm
Posted by Charlie Sheen on Tue Feb 19, 2019 7:39 pm
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Marwan will step in and relocate the club to Liverpool.
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Maybe a spell in prison would do Graham good.

At least he'd lose his virginity.
Re: Widnes
Post Tue Feb 19, 2019 8:08 pm
Posted by bulls2487 on Tue Feb 19, 2019 8:08 pm
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Even if Marwan steps in, he will only do it when club is in admin. On Twitter saying debt is 500k+, no one with any sense is going to cover that.
Re: Widnes
Post Tue Feb 19, 2019 8:14 pm
Posted by Pats plastic pitch on Tue Feb 19, 2019 8:14 pm
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bulls2487 wrote:
Even if Marwan steps in, he will only do it when club is in admin. On Twitter saying debt is 500k+, no one with any sense is going to cover that.


It’s what we owe the council. They’re letting us pay it in monthly instalments and helping us but it’s still a lot of money.

As of tomorrow, we won’t be able to pay certain staff.
Re: Widnes
Post Tue Feb 19, 2019 8:22 pm
Posted by Fantastic Mr Catpiss on Tue Feb 19, 2019 8:22 pm
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Pats plastic pitch wrote:
It’s what we owe the council. They’re letting us pay it in monthly instalments and helping us but it’s still a lot of money.

As of tomorrow, we won’t be able to pay certain staff.

It's a shame, but that stadium is a bit misleading, ppl think your in a good position but like with leigh ths bloody council take the revenue and you cant make any non matchday income either to top up the bank which is bloody crucial.

Honestly it makes such a difference and was one of the first things down when the hj was planned. There's 14 home games a year, how do we make money the other 350 days a year?
Re: Widnes
Post Tue Feb 19, 2019 8:22 pm
Posted by Budgiezilla on Tue Feb 19, 2019 8:22 pm
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I thought when Steve Rule left, that was a good thing. Obviously not...
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Re: Widnes
Post Tue Feb 19, 2019 8:36 pm
Posted by Pats plastic pitch on Tue Feb 19, 2019 8:36 pm
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Fantastic Mr Catpiss wrote:
It's a shame, but that stadium is a bit misleading, ppl think your in a good position but like with leigh ths bloody council take the revenue and you cant make any non matchday income either to top up the bank which is bloody crucial.

Honestly it makes such a difference and was one of the first things down when the hj was planned. There's 14 home games a year, how do we make money the other 350 days a year?


Yeah the club don’t get any cut on the bar sales etc/corporate box revenue. They just pay a one off yearly fee to play out of the stadium, the council get everything.
Re: Widnes
Post Tue Feb 19, 2019 8:45 pm
Posted by bulls2487 on Tue Feb 19, 2019 8:45 pm
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Pats plastic pitch wrote:
It’s what we owe the council. They’re letting us pay it in monthly instalments and helping us but it’s still a lot of money.

As of tomorrow, we won’t be able to pay certain staff.


It is quite a large amount, Council Might now call in debt if Admin looming. also saw on social media that O,Neills are owed 200k too.
Re: Widnes
Post Tue Feb 19, 2019 8:53 pm
Posted by Pats plastic pitch on Tue Feb 19, 2019 8:53 pm
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A lot of hidden debt for a long long time. It’s surfacing now.
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