samwcave Posted September 17, 2021 Share Posted September 17, 2021 1 minute ago, Half Fan Half Biscuit said: Lots of people who are owed money by the club will lose money. The administrators will make lots of money. I see. But what happens to the club? Do we completely collapse eventually, or do we remain a club just with no owner and no money? Link to comment Share on other sites More sharing options...
Philmycock Posted September 17, 2021 Share Posted September 17, 2021 All this and Mel's personal worth is still half a billion, starting to think he's a Bamford Rev 1 Link to comment Share on other sites More sharing options...
Ram-Alf Posted September 17, 2021 Share Posted September 17, 2021 1 minute ago, samwcave said: Apologies this might sound stupid, but can someone explain what exactly is going to happen IF we go into administration? I know it is bad, but specifically, what could happen? Administration -12 points, P&S Possible -9 points, Administrator takes over the company sells what he can pays the wages takes their fee, Gate receipts used for the running of the business, Possible buyers waiting in the wings? to take over Link to comment Share on other sites More sharing options...
Kernow Posted September 17, 2021 Share Posted September 17, 2021 3 minutes ago, TomTom92 said: Why would we fail to agree a 9 point deduction and then take a 12 point one? Is there a business reason to this? My complete guess would be that people at the Club may not share the same confidence as Rooney that a -9 deduction wouldn't spell out our fate this season. If we go down with a -9 deduction, they may as well add another 12 to the deduction because it means the exact same thing. Added to the fact that we're on a month-by-month tightrope where we can have another 3 deducted if we miss any payments. My guess would be that it's of the opinion that putting us in to administration would make us sellable and allow the Club to finally move on. If we are going to end up in League One regardless, I'd much rather have it with a debt-free Club and new owners with an ambition and desire to own the Club and take us places. That's the only minor positive I can manage to drag out of what is looking like a bleak and quite frankly saddening situation. Tamworthram 1 Link to comment Share on other sites More sharing options...
duncanjwitham Posted September 17, 2021 Share Posted September 17, 2021 Just now, Van der MoodHoover said: Does that mean we'll settle keoghs back pay in academy players, cones and bibs? That’s probably classed as a “football debt” so we’ll end up paying it in full, while local businesses get pennies on the pound of what they’re owed. Van der MoodHoover 1 Link to comment Share on other sites More sharing options...
Orphanram Posted September 17, 2021 Share Posted September 17, 2021 14 minutes ago, Heisenberg said: Confirmed by Percy. Christ, when I shared the link earlier I thought it was probably one of these Twitter claim to know but no nothing types Link to comment Share on other sites More sharing options...
DCFC Kicks Posted September 17, 2021 Share Posted September 17, 2021 Ramarena 1 Link to comment Share on other sites More sharing options...
ossieram Posted September 17, 2021 Share Posted September 17, 2021 Maybe Mel got wind of the protests people have been going on about and thought he'd give them a bigger reason to protest. Tyler Durden 1 Link to comment Share on other sites More sharing options...
atherstoneram Posted September 17, 2021 Share Posted September 17, 2021 4 minutes ago, Van der MoodHoover said: Does that mean we'll settle keoghs back pay in academy players, cones and bibs? Be cheaper to give him the club Van der MoodHoover 1 Link to comment Share on other sites More sharing options...
Tyler Durden Posted September 17, 2021 Share Posted September 17, 2021 2 minutes ago, Kernow said: My complete guess would be that people at the Club may not share the same confidence as Rooney that a -9 deduction wouldn't spell out our fate this season. If we go down with a -9 deduction, they may as well add another 12 to the deduction because it means the exact same thing. Added to the fact that we're on a month-by-month tightrope where we can have another 3 deducted if we miss any payments. My guess would be that it's of the opinion that putting us in to administration would make us sellable and allow the Club to finally move on. If we are going to end up in League One regardless, I'd much rather have it with a debt-free Club and new owners with an ambition and desire to own the Club and take us places. That's the only minor positive I can manage to drag out of what is looking like a bleak and quite frankly saddening situation. Have read some Tweets from Bolton fans saying exactly the same thing....might as well take both hits in one lump rather than 9 points this season and then potentially another 12 if we're in League 1 next...... Link to comment Share on other sites More sharing options...
Rosythram Posted September 17, 2021 Share Posted September 17, 2021 9 minutes ago, TomTom92 said: Why would we fail to agree a 9 point deduction and then take a 12 point one? Is there a business reason to this? Maybe some people want to make a point with the efl, “I told you what I would do if you pushed me, so now sort it” A matter of principle maybe! Link to comment Share on other sites More sharing options...
OoooMarkWright Posted September 17, 2021 Share Posted September 17, 2021 @David May as well spill the beans about what happened at the meeting now. The club hasn’t a pot to pee in so cana sue! Rev, Ramarena and Norman 2 1 Link to comment Share on other sites More sharing options...
Van der MoodHoover Posted September 17, 2021 Share Posted September 17, 2021 2 minutes ago, duncanjwitham said: That’s probably classed as a “football debt” so we’ll end up paying it in full, while local businesses get pennies on the pound of what they’re owed. Indeed I fear you're right. This is the EFL looking after "the interests of the game" whilst screwing wider society. Be an interesting bun fight between them and hmrc who also rank highly in an insolvency. Link to comment Share on other sites More sharing options...
ramsbottom Posted September 17, 2021 Share Posted September 17, 2021 Just now, Tyler Durden said: Have read some Tweets from Bolton fans saying exactly the same thing....might as well take both hits in one lump rather than 9 points this season and then potentially another 12 if we're in League 1 next...... IF?? Tyler Durden 1 Link to comment Share on other sites More sharing options...
Tamworthram Posted September 17, 2021 Share Posted September 17, 2021 3 minutes ago, ossieram said: Maybe Mel got wind of the protests people have been going on about and thought he'd give them a bigger reason to protest. Maybe Mel got wind of the protests and thought “sod you then. I’m out” (n.b. I don’t really think that’s the case). Link to comment Share on other sites More sharing options...
Half Fan Half Biscuit Posted September 17, 2021 Share Posted September 17, 2021 (edited) 19 minutes ago, samwcave said: I see. But what happens to the club? Do we completely collapse eventually, or do we remain a club just with no owner and no money? Hard to say, but either a) a deal has already been done to sell the club, or b) the administrators will run the club with a view (hopefully) to finding a buyer. The directors will have no say in the running of the business as this power goes to the administrators. Just seen club statement - was hoping for a) but we've actually got b). Edited September 17, 2021 by Half Fan Half Biscuit Just seen club statement samwcave 1 Link to comment Share on other sites More sharing options...
atherstoneram Posted September 17, 2021 Share Posted September 17, 2021 7 minutes ago, Unlucky Alf said: Administration -12 points, P&S Possible -9 points, Administrator takes over the company sells what he can pays the wages takes their fee, Gate receipts used for the running of the business, Possible buyers waiting in the wings? to take over But which wing East wing Chinese. Left wing American. Link to comment Share on other sites More sharing options...
Tyler Durden Posted September 17, 2021 Share Posted September 17, 2021 (edited) 3 minutes ago, enachops said: @David May as well spill the beans about what happened at the meeting now. The club hasn’t a pot to pee in so cana sue! This. Would be very interested to know how what was said stacks up to our current plight. Edited September 17, 2021 by Tyler Durden Link to comment Share on other sites More sharing options...
BramcoteRam84 Posted September 17, 2021 Share Posted September 17, 2021 My understanding (and I may be wrong) is we will get an automatic 12 point deduction (which could be as much as -21 by the time the EFL have had their way with us) but if we can be bought before the transfer window re-opens we can keep all our talent. If not and we’re still in the hands of the administrators at that point, then we will lose all our players for nothing like Wigan did. The hope is now we will be free of the debts (which will rightly piss several people off and potentially cause financial hardship for some) a buyer will come in and we can stabilise. But we would need to all prepare for league 1 as -12 will be extremely difficult, -21 will be impossible, although we could be telling the EFL to duck off now and see them at the DC. Link to comment Share on other sites More sharing options...
Ramarena Posted September 17, 2021 Share Posted September 17, 2021 10 minutes ago, Tyler Durden said: All I need now is CharlotteRam to come on and start indiscriminately trying to defend Morris despite utterly ruining the club and my evening will be complete It’s all your fault as well! Tyler Durden 1 Link to comment Share on other sites More sharing options...
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