alram

1 hour ago, StarterForTen said:

The EFL required proof of funding for the remainder of the season by March 1st. If no preferred bidder in place (and an underwriting of the  funding required) then that will mean the Admins seeking additional borrowing/external funding from elsewhere. They did seem to indicate that they had irons in the fire on that from, if required.

So tomorrow's 'deadline' may not be too sinister in once sense, but it does kick the can down the road further and - for me - the critical deadline in all of this is May 20th (or something close to that date, not too sure) when contract renewals have to be agreed before players become free agents. That's about 12 weeks away and the club will only be able to sign players if we are out of administration.

It is that clicking time bomb that I worry about.

let us be honest, the admins went all in by setting the deadline for the bidders to submit bids. i honestly fear the worst and nobody has put the money up.

if we still have no pb going forward then kicking the can down the road isnt going to solve anything apart from making the club even more expensive to buy.

19 hours ago, Wignall12 said:

Do you seriously expect a blow by blow account of what happens in the timeline ?  Social media and all the expectstions it brings has a lot to answer for. I belong to a generstion that got ghd news after it was all sorted. How can yoh possibly say that Q have been doing nothing , why would they publicise what they were doing to all and sundry ?  What right do we have to know exactly what is happening minute by minute in transactions we are not part of .....thats not how it works .

no wignall.

i expect the admins to give us an update when a deadline that THEY set passes and you hear nothing but silence. especially when a deadline set by the EFL is coming up and we all know they could run out of patience.

i dont demand minute by minute, i demand clarity when they cause confusion and anxiety.

i am just so demoralised by the whole thing you get deadlines and hope to have something to look forward too but deep down you know you will be disapointed

have Q kept their word about anything they have said so far? 

i think they are pushing their luck in thinking the efl wil continue extending until we actually get some good news. i am seriously worried about the coming days i would like somebody to tell me a reason why these guys are up to the job apart from saying they are qualified professionals . it all seems like blind faith to me.

they appear useless what has been done since arrival. no respectable journalist has said anything on the matter and that just makes me think there is no news to report which is not good 

41 minutes ago, PistoldPete said:

It's the deadline that EFL has set that worries me.

they will start to get less sympathetic to us passing the deadline if they see no progress. 

the admins need to step up now

tick tock tick tock. getting worried would it really harm the administrators to tell us whether the process is going forward even without specifics. 

if they set a deadline themselves they should tell us the progress after its been met although it hasnt stopped them before i count them saying a prefered bidder imminent about 5 times, first time in november

i would be over the moon with ashley, he will stabilise the club, either succeed with it or sell it on

what we need is to be a stable club to move forward.

sheikh mansour could take us over he wouldnt be able to spend anything nor is that what we need at a time like this

but saying all this. even if ashley is preferred bidder there is a long long way to go. as with most administrations getting the preferred bidder in is one of the first steps, which is mad as we are 6 months into administration

Let's see something from official sources rather than terrace gossip

i will believe it when i see it, this day has been shocking. i am so deflated

Despite the late goal thought we were always kept at arms length and we played to their strengths bringin CKR on

We are looking tired, the team has given so much recently hopefully they can keep going. We will play worse sides than them

50 minutes ago, jono said:

I think Alram thinks administrators are like ambulance chasing spivvy lawyers rather than court appointed professionals. ( Who will quite rightly earn a fee for their knowledge, experience and work - as in most walks of life ) 

for me the proof is always in the pudding, until i have seen genuine progression that they have made i will change my tone.

but its okay saying they know what they are doing and they are doing things behind the scenes but the reality is that is as much speculation as me saying i have seen nothing. this is the most important few months in the history of the club, i would like to see some honest and explanation of the situation from the admins instead of the token we will announce a bidder in 2 weeks which seems to never happen.

15 minutes ago, BramcoteRam84 said:

We have as much time as when the money runs out or the admins cannot borrow anymore. The admins know exactly how much time they have and will ensure a deal within it, unless the bidders walk away. No one is sleepwalking into disaster, we just don’t know the situation because it’s confidential and it’s also at the critical point of the negotiation process. 
 

The EFL deadline was based on what the admins told them on the situation. The admins are in regular touch with the EFL, if there is a serious issue we will find out next week when they meet again. EFL will give us an extension if progress being made. There are three parties still interested in buying the club it’s about securing the best deal however long it takes within timeframe to do a deal.

you are right,

but as i have said my main concern is there may be 3 interested parties but are the 3 willing to put enough money up to buy the club. that is what had me worried, because if one had cash on the table ready to go i feel like we would have had a preferred bidder a long long time ago. if the reports they put out are true both the binnies and ashley have offered bids but there seems to be no progression on either front

22 minutes ago, BramcoteRam84 said:

A preferred bidder will not be announced this week IMO. There will be a curve ball that delays it.

That doesn’t mean it’s impending doom, they could be set to name a preferred bidder and then a higher bid comes in. At some point the admins will need to call stumps and make a decision but only when they’ve squeezed out as much as they can and taken it as close to the wire on our finances. The bidders are doing exactly the same - it’s called a negotiation.
 

If you hear that all the bidders have walked away - that’s the time to panic.

we are running out of time.

if no bidder by the deadline from the efl then what?

feels like we are sleepwalking into disaster

9 minutes ago, FlyBritishMidland said:

How have you got to seven months?  We went into administration on 17th September 2021 or thereabouts.  I make that just over five months.  And this is a complex case with the size of debt, parties that we owe money to, ground ownership, claims from other clubs.  If it hadn’t been for the claims, particularly MFC as WWFC have yet to formally submit one, we would have had a PB in early January.

Since the resolution of the MFC issue the administrators have asked for formal bids and allowed seven days to submit.  That seemed reasonable.  And it’s common practice for bids to go in at the last minute.

A couple of months ago I posted this table in the “Admins chased” thread.  The average duration for a club being in administration is about 8/9 months. And our case will be more complex than average.

 

i understand the complexity and that its going to take longer than other administrations

i just dont have much faith because i have seen zero progress, lets see what happens but i am not holding my breath. reading between the lines it just looks like they havent named a preferred bidder because nobody has the money or interest to buy the club

lets be honest mel really has well and truly ducked us with the tax bill and stadium

my main worry about reading is how many goals they score. i know they concede loads but when you score it gives you a chance to win games when the opposition has an off day like when they played preston.

if ince makes them solid at the back then it could be the difference but we just have to keep winning our games, we win 9 games and we stay up it really is that simple

1 minute ago, RoyMac5 said:

Errr you have to give buyers notice of a deadline - can't just ring them up and say what's your bid?!

we will have to see, later tonight we will know if any bids come in but i am not hopeful to be perfectly honest

i just want to see some progress and it can only happen with a prefered bidder

Just now, Eddie said:

That's not, and never has been, their brief. It's purely and simply to maximise the benefits to creditors.

yes it is. they achieve benefits to creditors by selling the club. if you don't improve the chances of a sale they don't get paid

4 minutes ago, atherstoneram said:

How can they name a preferred bidder in the way you put it, First off they have to work out the amount of debt and who it is owed to. The administrators job is to sort out financial status of the club and try if possible to get the clubs finances in balance, while they are doing that they are not interested in a preferred bidder, there may be no club to bid on if it can't be saved.

sorry i just dont buy it

i know full well how administrations work. the price of the club has been common knowledge for a long time now.

i just think nobody is willing to pay the asking price for the club and the longer it goes on the more expensive the club gets. not naming a prefered bidder at this stage is extremely irregular, the stumbling block was supposed to be boro, now that is sorted whats the excuse this time? it is all we hear from the admins yet there is almost nothing visible that they have done to make the club an attractive buy. what if no bids come in tonight? what then?

look at every statement the admins have put out, they all contain no information and along the lines of we are making progress. lets see the progress. i dont buy a word of it.

all posh reading and barnsley will start to pick up points now because of managerial changes , so expect it.

but we will still pick up more points than them, it's just whether we will win 3 more games than reading that is the issue. it could completely depend on whether reading keep lucas joao fit

24 minutes ago, CBRammette said:

As the PB has on my understanding to put in a non- refundable £5m deposit you expect it to be "easy"? If only you as an insolvency practitioner had been available in September we would have been challenging for play-offs now

i tell you something i may have made attempts to make it a more attractive club to buy

on the face of it they have done nothing to make us a better club to buy. there is zero clarity about anything and i would bet the admins are making a pretty penny out of this 

35 minutes ago, Animal is a Ram said:

This seems to go against the interview from last Friday, no? There was a 7 day deadline?

that makes grim reading to be perfectly honest

3 minutes ago, atherstoneram said:

I would imagine there has been a huge amount of progress made since the administrators walked through the door into a financial minefield. Why would the preferred bidder status be the easiest bit,it is not just a case of selling to the highest bidder. If the bidders don't meet the criteria for taking over the club i.e don't offer enough to buy the club or don't meet the terms for satisfying the creditors then their offer will be turned down.

because the preferred bidder is where negotiations START

it should be one of the first things they do, as with every administration. It is extremely rare for a preferred bidder not to be in place after a couple of months, never mind what is it now 7 months?

we can believe that many are competing to buy the club but i think the reality is a bit closer to the administrators are struggling to find someone to buy the club, it is the only logical reason. just ignore all the puff from the media and look at the facts, the admins seem to pluck up a new barrier every time a deadline comes.

8 minutes ago, Crewton said:

It's easy to get a viable-looking bid from someone and call them "Preferred Bidder" : they then get exclusivity and loads of time to find ways to reduce their offers until they're no longer viable, or to find reasons why they can't compete. It's much harder to find a PB who is fully committed to complete the deal. I hope/suspect Quantuma are looking for the latter, and that's why the Boro & Wycombe claims have been such an obstacle.

Yes I agree completely

My issue is we shouldn't be taking this long to name one. For me there has to be even deeper problems than previously reported.

We need to grant exclusivity to get on with the takeover and seperate the men from the boys. If they don't meet the requirements then move on to the next bidder. Sitting around and naming no party as a preferred bidder achieves nothing for anybody. The EFL were putting pressure on us to name a bidder way back in December so we can overcome the other obsticles. It is the only thing that will let us move forward, yet still nothing

much to my surprise he has been superb this season, and i think we will see how much we miss him in the next few matches. 

rooney giving him the armband was a masterstroke as it has got another gear out of him.

Ok stupid red but hopefully we will get a boost when he comes back.

i really hope we hear some positive news friday.

i am sick to death of the administrators saying one thing and the opposite happening, how many times had it happened? i got banned a few months ago for questing the administrators (crazy but i move on) and everything i said a few months ago that got me banned has not changed at all and has been said multiple times in the meantime by others.

there has been such little progress made since the administrators have taken charge. the only thing resolved has been the boro case and that wasn't settled by the admins it was settled by mel and gibson.

the preferred bidder status should be one of the easiest bits of the process, the fact is it like pulling teeth to get one seriously worries me that none of the bidders are really willing to put up the money to buy the club which is likely why the admins gambled with results on the pitch.

Just now, Jubbs said:

The 21 point deduction the Daily Fail were predicting was our punishment for breaching FFP. They were 12 off. The 21 has only happened because of administration.

i am pretty sure the 21 included administration as it came out just before we went into admin

1 hour ago, Curtains said:

Are you for real. 
Why would you do that. 
He owns the ground 

oh, yes, maybe we should be nice to poor old mel then seeing as he sold the ground to himself