Trinity board offers support to chairman

The West Yorkshire outfit, one of those believed to be under threat when the next round of Super League licences are issued for 2012, are hopeful the news will not affect them directly or their plans to build a new ground.

Chief executive James Elston said: "The board of directors and the Rugby Football League are fully informed and Ted has the full support and backing of the club during these difficult times."

After selling a piece of land in the city to Sainsburys a few years ago, Richardson revealed he has received only 80,000 from a deal he thought a contract stated would eventually earn him 1m.

He used that contract as equity with his bank to borrow funds as an advance on the 1m and has subsequently been unable to repay the money.

Richardson said: "As the development in Wakefield continued we spoke to our solicitors to see if a date was set for the contract to come to fruition and were told that the contract had been settled at just over 80,000, some 920,000 less than expected.

"We took this matter to the bank and the solicitors and whilst we have been informed we have a strong legal case against the solicitors for wrongful advice the contract will only settle at 80,000."

In an open letter to shareholders and supporters, he added: "I hope the shareholders and supporters of this club, will understand that this has not been done lightly."