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Featherstone in financial trouble?

(@geoffw)
Noble Member

It has been reported in the press that Investec have served a winding up order on Featherstone. However neither the club nor the RFL  have issued any statement in respect of it.

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Topic starter Posted : 04/06/2024 5:27 pm
(@sandgroper)
Noble Member

Well the flat cappers are always up for a fight - now they can fight with administrators. 

Looks like they spent a lot, and are still spending, hoping tor a rapid promotion but it didn't work out. There is always a limit on how much a 'sugar daddy' will pay out and when it stops it is hard to pick yourselves up!

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Posted : 05/06/2024 7:35 am
(@sunny)
Noble Member

The Yorkshire biased RFL won't like this!

Being very cynical, it wouldn't surprise me if the RFL didn't arrange/organise/fund/sponsor/or in some way support a survival package.

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Posted : 05/06/2024 9:48 am
Steve
(@steve)
Honorable Member

I read a post on twitter also from another member of their staff who had not received severance pay so there may be a string of creditors.

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Posted : 05/06/2024 7:40 pm
(@frankg)
Noble Member

@sunny I am not sure that the RFL will have any interest in Featherstone. A club that has always played above its weight but, with a population of about 15,000, hardly meets the IMG criteria for a "big" Club.

I hope that they can get through any current financial problems, as Club's like Featherstone are the heartbeat of rugby league. RFL/IMG have no interest in the "smaller" Clubs and will be happy to see them fail.

As others have said, if the RFL have no interest in the Championship/League 1 and grass root clubs like Featherstone, maybe the time is right for Clubs to to consider a breakaway from SL and attempt to get a separate tv deal and sponsorship. They might as well go down fighting, rather than fade away under the RFL plans.

One thing is sure, RFL will one day lose the Sky money, if they are offering a sterile brand of rugby based around a few so called "big" clubs; and these clubs may well lose there big money sponsors. Where will that leave the game?

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Posted : 07/06/2024 1:28 pm
(@lord-lucan)
Trusted Member

Just for clarity: Fev have not had a winding up order served on them, they have had a winding-up petition, there's a very big difference! A winding-up order would mean the club immediately going into liquidation.

Fev certainly do have some financial issues at the moment as a result of over-stretching themselves last season before the door to SL was slammed shut by the new IMG system. It's clearly far from an ideal situation but I think those fans from the likes of Wakefield and Castleford who were salivating on their forums at the prospect of Fev ceasing to exist because they'd then get extra catchment area points are going to be disappointed.

 

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Posted : 08/06/2024 1:13 pm
gpo1971 and Widnes77 reacted
(@ditton-donkey)
Noble Member

Well that’s good news

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Posted : 08/06/2024 3:32 pm
(@widnes77)
Estimable Member

@lord-lucan Hope that's true mate, and there's plenty in Widnes who would be happy to see a potential play off rival go to the wall. RL is dying a slow death, IMO, and i would not wish any of the remaining clubs cease to exist.

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Posted : 09/06/2024 2:29 pm
(@griffin1)
Estimable Member

It has probably been mentioned, but I read that Paddy Handley is leading a group who are going to "put significant investment" into the club.

Over fairly recent years , Featherstone have been unlucky with investors. There was Probiz and Feisal Nahaboo who were going to do great things only to disappear into the ether and I think someone else after him.

Fev have done a lot to make a visit there a much more pleasant experience, but in reality money at our level in RL is tight.

I have reservations regarding the RFL'side a to convert amateur clubs in semi professionals. l want the game to grow, but is this the way forward.

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Posted : 14/06/2024 4:16 pm
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