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Discussion started by Gelbel (IP Logged), 10 September, 2019 10:01
MESSAGES->author
Gelbel
10 September, 2019 10:01
A message from Gary Hetherington

In full...

10/09/2019

Thanks to all who have corresponded recently asking for an update on the Clubís position and I am sorry it has taken so long, but so much activity has been going on behind the scenes and until many things have been resolved, we have been unable to comment publicly.

I am pleased to report we are now very close to putting all our recent difficulties behind us and embarking on a new challenge for the Club.

But, before we focus on the present and future, it is worth reminding ourselves about the recent past as I understand some confusion and misunderstanding still prevails.

The past 8-months have been extremely challenging. In January, the Club faced closure and liquidation, resulting from previously committed funding for the business failing to materialise. Fortunately, the Shareholders of the Clubís non-trading holding Company, YTL Ltd provided personal funds to enable all players and staff to be paid in full until 30thJune and the expiry of Contracts. However, the Club couldnít meet its liabilities for 2019/20 which included 9 contracted players and the Clubís Operating Board (LRUFC Ltd) of myself, Rob Oates, Professor Paul Smith and Sir Ian McGeechan had no alternative but to enter into a CVA (Company Voluntary Arrangement) and the YTL Ltd Shareholders provided additional, personal funds to the CVA which will enable all the Creditors to receive part-payment for their debt. The YTL Board of seven, included the 4 Directors of LRUFC Ltd and Jon Wright, Alistair da Costa and Chairman, David Dockray

On 30thJune, Sir Ian and Paul Smith resigned from both YTL and LRUFC, leaving myself and Rob Oates as sole Directors of the Operating Company, supported by YTL who were committed to maintaining Yorkshire Carnegie in the Championship. The CVA was a new experience for me and I and all our Stakeholders are indebted to the expertise and professionalism of our advisors, including Andy Smith and Begbies Traynor who managed the CVA process, which achieved 100% support from the Trade Creditors and 9 contracted players. This result satisfied the RFU Regulations and avoided a possible 28 League point penalty. We have also satisfied the RFU who have been very rigorous, but fair to maintain our Championship status and our YTL Shareholders have, once again, assisted by providing a £150,000 Bond to the RFU.

Chris Gibson was appointed as full time Managing Director along with Suzanne Oakes as Finance Director and Company Secretary and together the Board have devised a new Business Plan and Operating Model based on a breakeven budget and part time Rugby operation. Total expenditure is restricted to just under £1m, of which, the Rugby Department will spend £600K, vastly reduced from the £2.5m spent in each of the last 5-years!

The focus is now on stability and spending only what we earn, so a big emphasis on growing each of our income streams. Martyn Wood has been appointed as full time Director of Rugby to work alongside Chris Gibson to recruit a new squad and build on the very strong partnership with Leeds Beckett University, who will provide a base for the Yorkshire RFU Academy. Kirkstall will remain the Clubís training base and Emerald Headingley Stadium will host all 11 Championship home games and the partnership with Leeds Rhinos who provide facilities, amenities and management support under a Services and Management Agreement, will continue.

The Club is now through its darkest hour and ready for the challenge ahead. New appointments to the Board of the Operating Company will be announced soon. The YTL Ltd Board will also undergo change and will continue to focus solely on raising new investment. New players and rugby staff appointments will also be announced next week, along with membership and season ticket details.

The Club is extremely grateful for the support of all its Shareholders, Management, Sponsors, Members and fans and the on-going support is so essential for Yorkshire Carnegie to recover from the trauma of last season and build on its heritage and support base to deliver the best possible team and match day experience in 2019/2020.

Gary Hetherington



Edited 1 time(s). Last edit at 11/09/2019 10:05 by Gelbel.

bigfecker
bigfecker
10 September, 2019 10:57
Some news is better than no news. Bit of a smokescreen announcement really.

If I was CEO I would be wanting some news to go out at least once a week (positive news of players and moving forward), sadly the Yorkshire/Leeds supporters are being treated like mushrooms.

Carnegiette2
Carnegiette2
10 September, 2019 12:05
Thanks Gel

Better late than never- I fully understand that there are legal reasons why a lot of the CVA stuff could not be communicated, but this does feel well overdue.

Letís hope this is the start of better news- and that we can get back to just talking about the rugby........

JDH1
JDH1
10 September, 2019 12:20
Good news on the horizon. We survive and move on and up.

MESSAGES->author
leemingtyke
10 September, 2019 20:25
Best of a bad job.

Still nowt confirming what we already unofficially know about the team. And nothing about the new players.

JDH1
JDH1
10 September, 2019 21:20
That's next week.

MESSAGES->author
SideStep
11 September, 2019 01:44
A lot of words and as usual not all that much confirmed.



The first Leeds Tykes child mascot...#leedswasps0203season. #cheersbentos

Bobba
Bobba
11 September, 2019 08:45
I fail to see the reason for the secrecy surrounding the names of players we already signed. Presumably to avoid the hoo-ha following the signing of Ford being repeated. They have to be announced sooner or later, so what is the problem.

GH has told us nothing, save to inform us that C Gibson is the full time MD and Suzanne Oates becomes the Finance Director & Company Secretary. Both are also connected with Leeds Rugby / Rhinos. As are GH & Rob Oates. So I ask again, are we really an Club independent of ties?

I suppose a little information is a start, but the treatment of the supporters as mushrooms continues!

MESSAGES->author
Gelbel
11 September, 2019 10:04
Tickets now availabe to buy, inc season tickets...

Billy ba
Billy ba
11 September, 2019 10:37
According to ticket information the south stand is not open this season

MESSAGES->author
Competitive Dad
11 September, 2019 12:20
The view of Nic Mayhew
[twitter.com]

MESSAGES->author
SideStep
11 September, 2019 12:38
Replied to his post on twitter.
As I said on there the club is just soulless its unreal.
How anyone can feel positive about this 'team' is beyond me.



The first Leeds Tykes child mascot...#leedswasps0203season. #cheersbentos

Billy ba
Billy ba
11 September, 2019 12:49
Is that the same guy who played three or four times for Carnegie then got 15% of £286.000 and then signed for North Harbour in New Zesland.

MESSAGES->author
leemingtyke
11 September, 2019 12:49
Yeah, compare that tweet to the statement and it suggests that the GH truth airbrush is still in full effect.

Billy ba
Billy ba
11 September, 2019 13:19
Will this moaning ever stop.

MESSAGES->author
Wildwillie
11 September, 2019 13:35
Quote:
Billy ba
Will this moaning ever stop.

Slim chance Billy, slim chance! (Sm124)

MESSAGES->author
Gelbel
11 September, 2019 13:40
Quote:
Competitive Dad
The view of Nic Mayhew
[twitter.com]
Should've read the small print...

TykeGeorge
TykeGeorge
11 September, 2019 15:02
Bit cheeky asking us to stump up for a season ticket with only 6 officially confirmed signings.

MESSAGES->author
Beeston Lion
11 September, 2019 15:35
The new finance director is Susanne Oakes! I.e. no relation to Rob Oates and has come to Carnegie from outside of sport altogether!!

MESSAGES->author
Competitive Dad
11 September, 2019 15:55
Quote:
Billy ba
Will this moaning ever stop.
Probably and justifiably..... NO.

Guess which club in Yorkshire is, by a massive margin, most hated. It's poisonous out there in clubland. I've still not worked out how there has been no sanction.

Billy ba
Billy ba
11 September, 2019 16:07
Because they did everything by the rules

MESSAGES->author
SideStep
11 September, 2019 17:22
Carnegie did everything by the rules?
Maybe technically but morally disgraceful.



The first Leeds Tykes child mascot...#leedswasps0203season. #cheersbentos



Edited 1 time(s). Last edit at 11/09/2019 18:47 by SideStep.

MESSAGES->author
leemingtyke
11 September, 2019 17:56
Billy Ba is right, no rules have been broken hence no sanction.

Sidestep is also right, morally the club and YTL have gone to some dark places to get us here.

There it is reality fans!

MESSAGES->author
almostatyke
11 September, 2019 18:52
I'm with Leeming's interpretation: it is the real world we live in.

Personally I'm a bit fed up of "rugby moral values" being quoted as the participants of the sport have always pushed the laws to the limit, whether it be players receiving "boot money" in the so-called amateur days or the "black arts" that happen in the scrum and breakdown.

Carnegiette2
Carnegiette2
11 September, 2019 19:00
Quote:
leemingtyke
Billy Ba is right, no rules have been broken hence no sanction.
Sidestep is also right, morally the club and YTL have gone to some dark places to get us here.

There it is reality fans!

Correct. And it is up to individuals to decide if you can square those 2 things off in your head as to whether you support the club or not going forward.

Iím of the view that while I am not happy with what has gone on in the last few months, and I still feel for the players, coaches and connections involved, I do support the club and anyone who pulls on the shirt for us.

MESSAGES->author
leemingtyke
11 September, 2019 19:04
Quote:
Carnegiette2
Quote:
leemingtyke
Billy Ba is right, no rules have been broken hence no sanction.
Sidestep is also right, morally the club and YTL have gone to some dark places to get us here.

There it is reality fans!

Correct. And it is up to individuals to decide if you can square those 2 things off in your head as to whether you support the club or not going forward.

Exactly right.

MESSAGES->author
almostatyke
11 September, 2019 19:23
What is happening with regards to the "new type of supporter" status that GH mentioned earlier?

MESSAGES->author
almostatyke
11 September, 2019 19:30
Quote:
Bobba
I fail to see the reason for the secrecy surrounding the names of players we already signed. Presumably to avoid the hoo-ha following the signing of Ford being repeated. They have to be announced sooner or later, so what is the problem.
GH has told us nothing, save to inform us that C Gibson is the full time MD and Suzanne Oates becomes the Finance Director & Company Secretary. Both are also connected with Leeds Rugby / Rhinos. As are GH & Rob Oates. So I ask again, are we really an Club independent of ties?

I suppose a little information is a start, but the treatment of the supporters as mushrooms continues!

Good post Bobba, sorry for late response but it is so difficult finding time when the Greek beaches are 29 deg in the shade with the sea the same temperature as a hot bath.

I am confident that the previous management team left no stone unturned in searching for Yorkshire benefactors. We therefore have to thank the Rhino-linked team for our existence. For those who do not like this I suppose "any port in a storm" comes to mind.

MESSAGES->author
Beeston Lion
11 September, 2019 20:14
It is also up to the players concerned whether or not they are happy to sign a contract with a club who have been subject to the circumstances we have dealt with at Yorkshire Carnegie. We cannot dictate how any player concerned might exercise their right to seek work in a free economy.

JDH1
JDH1
11 September, 2019 21:40
For all the rugby morals been banded around I bet 99% of others clubs would have done the same thing if handed the circumstances.
I don't like what's happened but I will still go watch them.

Grybz
Grybz
11 September, 2019 21:58
Well I was surprised to receive the email today about season tickets, being honest I was convinced there would be no tickets as there would be nothing to watch. But before I even think about parting with my cash I, for one, would like to know what I am paying for, A handful of part timers and bunch of students? I doubt I am the only person who raised an eyebrow at seeing the price was the same as last year despite the new part time model.

Whilst i agree with those who question the morality of what has gone on, the fact is professional sport is a murky old business. Just as there are RFU regulations and rules, there are also business laws. Whether it is right or wrong morally, it would appear everything has been done within those regulations.

Before anyone jumps down my throat I do not feel the way the players and staff appear to have been treated last season was in any way right or acceptable, sadly that is the way business is. Regardless of whether it is a well run or badly run business, professional sports teams are businesses. This is not the first to hit financial difficulties, it sure as hell wonít be the last, just ask Bury FC fans.


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