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12 hours ago, Gaspode said:

This certainly needs a club statement first thing tomorrow morning - everyone needs to know where the club stands and whether these threats of administration are genuine or simply leaked to out the potential buyers under pressure.

I could wait (fairly patiently) for the deal to be completed without getting too upset but this is a whole new ball game....

if it is tactic, telling us sort of undermines it doesnt it?

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24 minutes ago, kevinhectoring said:

Under their loan deal I don’t think MSD gets to buy the club for 30m. I think they have to pay market value (not that that’s easy to quantify these days)

Have a read through the charge documents at Companies House

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7 hours ago, JfR said:

 

If that is the case, would it also be the case that Mel would not be able to do anything other than wait for the transaction to complete? If BZG are insisting that they have every intention of closing the transaction and that the money has been sent, then wouldn't it mean that we're obligated to sell to them? If Mel were to now instead start looking for other parties, one would assume that there could be the potential of legal ramifications from BZG as this deal wouldn't have been fulfilled. You can't sell something you've already sold.

 

I agree with your whole post, this bit worries me however. If Mel is touting another potential buyer, that would suggest that money has not been exchanged and the deal is not as DONE as everyone is led to believe. Or as you say there would be legal ramifications. 

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10 minutes ago, CornwallRam said:

Have a read through the charge documents at Companies House

Uhhh? He gave them an option to buy the club and the academy and the rest for the value of the loan?????? 
Or are you just saying that is the effect of the charge over the club’s shares 
 

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41 minutes ago, Gaspode said:

You’re missing the point (or don’t understand) that it’s not Mel’s responsibility to pay the wages - it’s the club that is responsible (the owner and the club are separate entities). 

Mel has been putting his own money in in order to keep the club afloat but with the takeover being delayed, Mel would be foolish to keep putting money in with almost no chance of getting it repaid (it would also take any pressure off the potential owners to complete the deal).

However much you dislike Mel (and we all agree he’s made some huge mistakes during his tenure), it’s only his personal money being put into the club that has kept us afloat over the past couple of seasons. He’s now got to the point where he doesn’t want to/can’t keep doing that and so is selling up. The club is now (allegedly) taking a bridging loan to cover the wages - the alternative is most certainly administration as it’s still spending way more than it earns....

Any why is the club spending way more than it earns ? Who is responsible for bringing in high wage earners and spending millions on transfer fees chasing the PL dream.

Wigan had a problem last year when the owners came in, then didn't have enough funds or didn't want to spend them to cover the outgoings and the rest is history.

What we appear to have now is the same, albeit on a larger time scale. I would argue that he has a moral responsibility to pay the wages, given he is mainly responsible for where we are today. 

 

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Let's say it is £12m we need to find down the back of the sofa to get us through to the end of the season - transfer fees or savings on wages. Who do you sell?

Goalkeepers
Marshall
Roos
Carson
Ravas
Mitchell

Defenders
Byrne
Wisdom
te Wierik
Evans
Davies
Forsyth
Buchanan
Malone
McDonald

Midfielders
Bielik
Bird
Knight
Sibley
Shinnie
Holmes
JBrown
Watson

Wingers
Lawrence
Jozwiak
Ibe
Whittaker
Jozefzoon
Mitchell-Lawson
Gordon

Forwards
Waghorn
Kazim
Marriott
Trialist
Stretton

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6 minutes ago, kevinhectoring said:

Uhhh? He gave them an option to buy the club and the academy and the rest for the value of the loan?????? 
Or are you just saying that is the effect of the charge over the club’s shares 
 

I'll give you a clue. If you don't pay the mortgage on your house, what happens?

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3 minutes ago, BIllyD said:

Any why is the club spending way more than it earns ? Who is responsible for bringing in high wage earners and spending millions on transfer fees chasing the PL dream.

Wigan had a problem last year when the owners came in, then didn't have enough funds or didn't want to spend them to cover the outgoings and the rest is history.

What we appear to have now is the same, albeit on a larger time scale. I would argue that he has a moral responsibility to pay the wages, given he is mainly responsible for where we are today. 

 

Due to Covid. I'm certain we'd be posting a profit in the accounts for 20/21 otherwise.

Wages should now be at a sustainable level in non-Covid times, less than 100% of income.

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I doubt you can fund a promotion bid without parachute payments without making a loss.

Sure, some teams did it, Billy did it, but the mind set of the players and wages paid were different, they were hungry to succeed, wanted to succeed for each other.

Last team of ours like that was Clough/Mac 1. That fine margin of loss started all this, chasing the dream with money.

Sometimes high wages and transfer fee’s aren’t enough.

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3 minutes ago, BIllyD said:

Any why is the club spending way more than it earns ? Who is responsible for bringing in high wage earners and spending millions on transfer fees chasing the PL dream.

Wigan had a problem last year when the owners came in, then didn't have enough funds or didn't want to spend them to cover the outgoings and the rest is history.

What we appear to have now is the same, albeit on a larger time scale. I would argue that he has a moral responsibility to pay the wages, given he is mainly responsible for where we are today. 

 

Simple really- Mel is a fan and wanted the club to get in the PL....There were very few dissenting voices when we were splashing the cash and I’m pretty sure Mel would have done things differently if he could have foreseen the issues we are having now (though even then COVID would have screwed up any plans). Easy to take potshots with the benefit of hindsight.....

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1 minute ago, Boycie said:

I doubt you can fund a promotion bid without parachute payments without making a loss.

Sure, some teams did it, Billy did it, but the mind set of the players and wages paid were different, they were hungry to succeed, wanted to succeed for each other.

Last team of ours like that was Clough/Mac 1. That fine margin of loss started all this, chasing the dream with money.

Sometimes high wages and transfer fee’s aren’t enough.

We made a £12.5m loss in that season

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7 minutes ago, Ghost of Clough said:

I'll give you a clue. If you don't pay the mortgage on your house, what happens?

if the debt is 125 and the house is worth 200, it is not the case that on default the bank gets the property for 125. 75 needs to be returned to the borrower.  Broadly speaking 

 

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10 minutes ago, Ghost of Clough said:

Let's say it is £12m we need to find down the back of the sofa to get us through to the end of the season - transfer fees or savings on wages. Who do you sell?

Goalkeepers
Marshall
Roos
Carson
Ravas
Mitchell

Defenders
Byrne
Wisdom
te Wierik
Evans
Davies
Forsyth
Buchanan
Malone
McDonald

Midfielders
Bielik
Bird
Knight
Sibley
Shinnie
Holmes
JBrown
Watson

Wingers
Lawrence
Jozwiak
Ibe
Whittaker
Jozefzoon
Mitchell-Lawson
Gordon

Forwards
Waghorn
Kazim
Marriott
Trialist
Stretton

The club doesn't get the choice. It's not a seller's market.

The answer to the question is whoever is desirable to any club that has disposable income. There are not many of the former and even fewer of the latter.

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6 minutes ago, Ghost of Clough said:

Due to Covid. I'm certain we'd be posting a profit in the accounts for 20/21 otherwise.

Wages should now be at a sustainable level in non-Covid times, less than 100% of income.

Certain based upon what ? It would need to be a big turnaround for that to happen, I would also assume the sacking of PC and his team for example would have to been minimal cost. The legal fee for the court battle as well, I'm sure that wasn't very much. Rooney's wages, all covered by Bet32 ? 

I could go on, but I would be very surprised if we were anywhere near a profit, neither of us know.

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