Rink Corp (Devils and Steeler) Liquidated (Merged!)

[StevenBletsoe]

True it's not the end of The Devils, but at his age it is a much easier sell when the product is so good and there is a team with a reasonable win ratio. Too many dissapointments for an 11 year old and he will look for something else.

The situation needs sorting soon that last year's team can be built on and tent is not half full.

 

[robbo2306]

Not seen it mentioned anywhere else yet:

http://www.thestar.co.uk/sport/ice-hockey/steelers_fury_over_cash_loss_1_3515041

Ragain claims that he would not have liquidated the company if he hadn't taken over the Steelers last season. And has a right pop at Ben Simon at the same time.

Steeltalk in meltdown over PR's comments about the takeover, the Ben Simon situation and other circumstances last season.

One question...where was 'due diligence' in all of this? Serious business decisions normally require thorough investigation and review before being made, don't they? :?

It's already on record that the Steelers' organisation was in serious financial turmoil before it was takeover. And it has also been stated that the Devils' business model was developing the stability of our club with the hope of a small profit being realised next season. It's not rocket science (even to the average Joe) what will happen when 2 businesses with those profiles are run by the same company.

Stability of your club, depends who you believe.......

 

[Tyke Devil]

In either case, it is still a very poor business decision.

If the Cardiff Devils were not financially sound... why risk the take over the Steelers until the Devils business model had improved..or at all?

If the Steelers were not financially sound...why take them over in the first place and put the stable Devils business model at risk?

If both clubs were trading poorly....well, again a crazy business decision to expand the empire.

None of this makes any sense to me. I wonder if PR is asked the same question at the respective forums there will be two different answers?

 

[Gospel]

And that is why I think it is important that G is there. There are rumours that we don't have the budget we want and it's not as high as Sheffields - the only person who can confirm or deny those reports really is G.

The only thing G can confirm or deny is what he has been told or assured by PR.

G may well have been fed the same brand of manure as everyone else.

From reading the article in The Star, PR blaming Ben Simon for spending money and agreeing contracts that shouldnt have been authorised, so why the need for G & Franny tonight? For me tonight isnt about the team for next season but will there actually be a team! Neither G nor Franny can comment on that as that is purely down to PR. The budget is going to be/has been set by PR with G & Franny working towards it. Seems to me that having G & Franny present will just divert the tough questions away from PR, probably something that he wants to happen.

 

[Anonymous]

I have to agree. I see little if any point to G and Franny being in attendance. It's going to be too tempting for fans to ask if "player A" is staying, why did "player B" leave, and the rumours true regarding "player C" or whatever.

Probably a ploy by PR but is he that naive? I'm sure most of us already have our questions planned so if PR is expecting an easy/easier ride, he's a bigger fool than he already looks.

 

[robbo2306]

I hope you get the truthful answers you are looking for tonight. It's time for him to stop the spin and let people know the truth about things.

You and your hockey club deserve to know the truth.

 

[TheStub]

You and your hockey club deserve to know the truth.

OUR hockey clubs deserve to know the truth.

 

[Finny]

I have to agree. I see little if any point to G and Franny being in attendance. It's going to be too tempting for fans to ask if "player A" is staying, why did "player B" leave, and the rumours true regarding "player C" or whatever.

So if Ragan says that G has a full budget and he is happy with it - will we believe him even if G is not sat next to him?
The only person who can say that G is happy with the budget, is G himself.

 

[Hynod]

I have to agree. I see little if any point to G and Franny being in attendance. It's going to be too tempting for fans to ask if "player A" is staying, why did "player B" leave, and the rumours true regarding "player C" or whatever.

So if Ragan says that G has a full budget and he is happy with it - will we believe him even if G is not sat next to him?
The only person who can say that G is happy with the budget, is G himself.

Agreed but G's body language should be a clue.

 

[DevilDom]

And that is why I think it is important that G is there. There are rumours that we don't have the budget we want and it's not as high as Sheffields - the only person who can confirm or deny those reports really is G.

The only thing G can confirm or deny is what he has been told or assured by PR.

G may well have been fed the same brand of manure as everyone else.

I agree. G will be in a very difficult position to contradict anything he has been told by PR or worse still told to say by PR in answer to particular questions.

It is however nice to see PR has finally blamed the collapse on his decison to purchase the steelers. Some of us have been saying this was a bad move from the day it was annouced!

 

[Anonymous]

I have to agree. I see little if any point to G and Franny being in attendance. It's going to be too tempting for fans to ask if "player A" is staying, why did "player B" leave, and the rumours true regarding "player C" or whatever.

So if Ragan says that G has a full budget and he is happy with it - will we believe him even if G is not sat next to him?
The only person who can say that G is happy with the budget, is G himself.

Can G answer honestly and how he would like with PR sat next to him? To me it doesn't really matter who gets asked this. There is also more important questions to ask imo.

 

[DevilDom]

What I find interesting is how Finnerty has been able to carry on recruiting regardless of what has been going on around him whilst it seems G has had his hands tied. We haven't even been linked with players.

I also find it very worrying that if we do have a team in the EIHL next year what the calibre of that team will be given all the season ticket money that has disappeared. I wonder what percentage of season ticket sales made to date have been paid for up-front as we would then have any idea how short the budget is going to be for next year.

 

[ASHIPP]

FWIW, G shouldn't have to be put in a difficult position tonight by anyone asking him awkward questions (he isn't the one responsible for this situation)....or by PR passing questions over to G to answer. :evil:

The really critical issues are not about player budget reductions/ any immediate player signings.....there are far more immediate issues than that:

1. How the Club can re-build/stabilise/secure itself and what realistic practical solutions are there to get out of the mess. Timescale?

2. Will there actually be a senior team playing next season - if so, at what level?

 

[steve]

3. What have you done with the money?

 

[Dickie Dunn]

FWIW, G shouldn't have to be put in a difficult position tonight by anyone asking him awkward questions (he isn't the one responsible for this situation)....or by PR passing questions over to G to answer. :evil:

The really critical issues are not about player budget reductions/ any immediate player signings.....there are far more immediate issues than that:

1. How the Club can re-build/stabilise itself and what practical solutions are there to get out of the mess. Timescale?

2. Will there actually be a senior team playing next season - if so, at what level?

Not directed at you, but I seem to have been told I'm a merchant of doom for saying this on another thread.

the business model is not looking good, & neither is the lack of funds now that the lump sum of season ticket money is no longer available.

I don't think G should be put into this position, either in front of the crowd or behind the scenes

 

[Anonymous]

FWIW, G shouldn't have to be put in a difficult position tonight by anyone asking him awkward questions (he isn't the one responsible for this situation)....or by PR passing questions over to G to answer. :evil:

The really critical issues are not about player budget reductions/ any immediate player signings.....there are far more immediate issues than that:

1. How the Club can re-build/stabilise/secure itself and what practical solutions are there to get out of the mess. Timescale?

2. Will there actually be a senior team playing next season - if so, at what level?

That is exactly my point when I say that there are more important Q's to ask. I agree ASHIPP, and this wouldn't be possible if G wasn't there!

 

[ASHIPP]

FWIW, G shouldn't have to be put in a difficult position tonight by anyone asking him awkward questions (he isn't the one responsible for this situation)....or by PR passing questions over to G to answer. :evil:

The really critical issues are not about player budget reductions/ any immediate player signings.....there are far more immediate issues than that:

1. How the Club can re-build/stabilise itself and what practical solutions are there to get out of the mess. Timescale?

2. Will there actually be a senior team playing next season - if so, at what level?

Not directed at you, but I seem to have been told I'm a merchant of doom for saying this on another thread.

the business model is not looking good, & neither is the lack of funds now that the lump sum of season ticket money is no longer available.

I don't think G should be put into this position, either in front of the crowd or behind the scenes

Completely agree, Dickie. This is not G's responsibility - let's not make it any more uncomfortable for him.

 

[Kipper]

It makes you wonder how the Devils can have run into financial problems.They don't pay any rent to Planet Ice which saves about £1500 per week.Also the offices are in the DCF name so as a charity they will have benefitted from favourable terms.A safe estimate on average crowds for last season would be about 1600 per game bringing in more than enough income to cover the players expenses under the cap.

The only unknown is how much was going out of the business in terms of expenditure on off ice staff.How many people were actually employed to run the Devils or were others from Ragan's various business interests subsidised from hockey income?

 

[Tyke Devil]

Totally agree regarding "G".

In respect of the season ticket money. If a lump sum of say..£100k has gone into a blackhole, never to be seen again, but the organisation had creditors to the sum of £500k. Are they not now theoretically £400k to the good?

Not saying I agree with this approach in practice but budgets may not be as badly hit as we thought if this is the case.

Appreciate that honouring the ST's mean that they will lose a revenue stream for next season though.

 

[Wannabe2]

FWIW, G shouldn't have to be put in a difficult position tonight by anyone asking him awkward questions (he isn't the one responsible for this situation)....or by PR passing questions over to G to answer. :evil:

The really critical issues are not about player budget reductions/ any immediate player signings.....there are far more immediate issues than that:

1. How the Club can re-build/stabilise itself and what practical solutions are there to get out of the mess. Timescale?

2. Will there actually be a senior team playing next season - if so, at what level?

Not directed at you, but I seem to have been told I'm a merchant of doom for saying this on another thread.

the business model is not looking good, & neither is the lack of funds now that the lump sum of season ticket money is no longer available.

I don't think G should be put into this position, either in front of the crowd or behind the scenes

Soory if i am missing something here, and this is a genuine question but where has it been stated that a lump sum of season ticket money is no longer available for team building etc, thats not a pop at you but i seem to have missed this one.