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

DevilDom

Well-Known Member
Wannabe2 said:
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.
It doesn't need to be said. The season ticket money paid up front was paid to RinkCorp. RinkCorp has gone into administration and therefore anything paid to RinkCorp has gone with it. That is unless PR did something very dodgy and put the season ticket money into a seperate company.
 
Wannabe2 said:
Dickie Dunn said:
ASHIPP said:
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.

Rink Corp as the operating company has sold 600 season tickets to Devils fans and in excess of 1000 tickets to Sheffield fans (Rink Corp figures). That alone should be about £120k of money for the devils alone. Where is it.

If they have moved the money, then I think the official reciever will have something to say about it. & if the the links that people are posting from company credit check sources, then Rink Corp had a final vaule net worth of £1000

Which in turn makes 1600 season ticket "holders" creditors to the collapsed company
 
Kipper said:
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?
But you were not under the cap if anybody believes the rantings on hockileaks, offshore accounts etc. May explain where some of the money has gone.
 
When Ragan first bought the IP rights to the Steelers he said we were 10% above you in wages, 6 months later and we were double your wages.

Why would anybody believe a word this man says??

Finny??

If we were double your wages, then G did an incredible job last year.
 

TheStub

Active Member
robbo2306 said:
When Ragan first bought the IP rights to the Steelers he said we were 10% above you in wages, 6 months later and we were double your wages.

Why would anybody believe a word this man says??

Finny??
He is a broken man at the moment - but I have no doubt he will rally soon enough.
robbo2306 said:
If we were double your wages, then G did an incredible job last year.
I don't think it was double, but looking at the players and the supposed deals then I do honestly think we were a good bit under you.

G did a very good job for the last few seasons - looking at the back office turmoil and the facility we play with.
 

Jones72

Active Member
One small comment re posts on here stating that 600 season tickets have been sold and that money is gone (1000 in Sheffield...frankly, I'm not interested in that side).

Not technically true.

Of those 600 season tickets, a portion will have been based on Direct Debit payments rather than full payment up-front.

OK so anything paid to RinkCorp to date under DD is under question, however that doesn't mean the remaining payments due are lost revenue to the "phoenix" organisation.

It would be interesting to find out what percentage of those 600 ST's were paid up-front and how many under DD.
 

James

Administrator
I believe Unkie Bob has confirmed you can't ring-fence the season ticket money when you go bust, he tried. So all season ticket monies so far should have gone with RinkCorp.
 
Jones72 said:
One small comment re posts on here stating that 600 season tickets have been sold and that money is gone (1000 in Sheffield...frankly, I'm not interested in that side).

Not technically true.

Of those 600 season tickets, a portion will have been based on Direct Debit payments rather than full payment up-front.

OK so anything paid to RinkCorp to date under DD is under question, however that doesn't mean the remaining payments due are lost revenue to the "phoenix" organisation.

It would be interesting to find out what percentage of those 600 ST's were paid up-front and how many under DD.

if 600 tickets were sold at full adult price then the figure would exceed £200k

the figure is an estimation based on the quantity of tickets sold against the deposits that were being asked and the reductions for paying in full to qualify for the early bird scheme

It would be very interesting to have someone clarify these figure though, but I'm sure I'm not too far wrong going by figures admitted / published in previous years. The real figure will be published by the reciever at the creditors meeting, but sadly that's way too late.
 
Tyke Devil said:
TheStub said:
Out of interest, how many paid for theirs up front on a credit card?
Paid for a 2+1 up front. Debit card, not credit card unfortunately. :(
Paid for 2 in full on debit card :?

I'll be following MNL tonight and praying for some good news and hopefully some clear answers (wishful thinking).
 
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