Alan Nixon Breaks Silence on American Billionaire Bid

[Reggie Greenwood]

6 minutes ago, Crewton said:

?LETTING THE DAYS GO BY... ?

The same as it ever was 

[PistoldPete]

1 hour ago, Rev said:

IF we were to go under, the players would be worth nothing to the creditors, would they?

Clubs only own the right to use those players for the duration of their contracts, which would be null and void upon liquidation, I'd have thought.

True unless we sold players first. We won’t go under I don’t think and certainly not before the summer window. 

[Curtains]

I repeat we don’t know how much of the HMRC debt is preferred creditors status and how much before the new rule will be at 25 percent .

Its a crucial point 

[PistoldPete]

19 minutes ago, Barney1991 said:

I’m guessing msd get first dibs on that then so hmrc in there case where are they going to get any money from the stadium and training ground doesn’t belong to the club. They will get a pittance back if we fold 

Msd have first dibs , then arsenal etc footballing creditors , then Hmrc and then the rest. Oh and then Mel. And finally Gibson and the Wycombe guy. At which point well those last three can go whistling in the wind.

[Betty Swollocks]

3 minutes ago, PistoldPete said:

As far as I know Wigan only paid 25% to all non football creditors. 

Hmrc now has preferred status over some other creditors but there is no reason to expect they would  necessarily get any better outcome from Derby’s administration than they did from Wigan’s.

As a preferred creditor they are entitled to more than normal creditors.

Generally in football admins 25% is the usual payout so theoretically we could offer HMRC 26% and we are still within the rules as "Preferring" them

[PistoldPete]

1 minute ago, Curtains said:

I repeat we don’t know how much of the HMRC debt is preferred creditors status and how much before the new rule will be at 25 percent .

Its a crucial point 

Most of it preferred I think. About £2m not. But I don’t actually think it makes that difference. Hmrc can only get what’s left .

[Crewton]

4 minutes ago, PistoldPete said:

Msd have first dibs , then arsenal etc footballing creditors , then Hmrc and then the rest. Oh and then Mel. And finally Gibson and the Wycombe guy. At which point well those last three can go whistling in the wind.

See the other responses - post liquidation the players have zero value in realising the assets of the company. 

[Shipley Ram]

16 minutes ago, Betty Swollocks said:

Generally in football admins 25% is the usual payout so theoretically we could offer HMRC 26% and we are still within the rules as "Preferring" them

Ken Bates tried to pay 1% in Leeds admin, and was forced to raise it to 8%. With him being the winning bidder after putting the club into admin. Don't take any lip from Leeds fans saying we are trying to mug the taxpayer.

[Crewton]

38 minutes ago, Crewton said:

See the other responses - post liquidation the players have zero value in realising the assets of the company. 

Rules 66.1 & .2 for reference, and after checking, it's all Player and Scholar registrations. 

[The Scarlet Pimpernel]

1 hour ago, i-Ram said:

Oh yes; perhaps I wasn't making myself clear. He may not now have a pot to piss in. Does he still have a dwelling in Sandbanks? (by which I mean house not caravan) ?

Yes he does have a very nice house in Sandbanks and I understand what you are saying but we are talking about if he still has significant millions (cash or readily disposable assets) for the club. I'm doubtful. 

[Macintosh]

I wonder if it is possible to call off administration? It just seems a bigger mess now than it was a month ago, and the administrator's costs are killing us.

There are three, maybe four interested parties now to talk to that weren't around before, nearly all the debt has to be paid anyway, so would it make sense for Mel to start afresh, call off administration, get the 12 points back and increase our chances of staying up? Put everyone out of their misery, him especially. 

He could offer a percentage of the stadium to Dell for that debt, pay off HMRC with his own money, even try a deal still, and then one of the interested parties takes on the rest, they get the club for approx £30million-ish? That would make it a more interesting proposal for all. Morris saves face and still has a part share in the stadium. Surely, somewhere, there is a low-interest loan for £28million to be found?

Or even a share issue, offered to all parties, discounted to Dell.

Is that allowed, you can backtrack, call the whole thing off? The EFL did on Jack Marriott, and the Maikel Kieftenbeld transfer from Birmingham. All those owed money would then get paid in full, including this site.

Edited December 3, 2021 by Macintosh

[Crewton]

If that was remotely feasible, he wouldn't have called in the Administrators in first place. Now, we have to exit Administration to the satisfaction of the EFL and I highly doubt they'd be open to giving Mel a 2nd chance at passing the "fit and proper" test. He's no Peter Ridsdale ? 

 

[Ram-Alf]

5 minutes ago, Macintosh said:

I wonder if it is possible to call off administration? It just seems a bigger mess now than it was a month ago, and the administrator's costs are killing us.

There are three, maybe four interested parties now to talk to that weren't around before, nearly all the debt has to be paid anyway, so would it make sense for Mel to start afresh, call off administration, get the 12 points back and increase our chances of staying up? Put everyone out of their misery, him especially. 

He could offer a percentage of the stadium to Dell for that debt, pay off HMRC with his own money, even try a deal still, and then one of the interested parties takes on the rest, they get the club for approx £30million? That would make it more a more interesting proposal for all. Morris saves face and still has a part share in the stadium. Surely, somewhere, there is a low-interest loan for £28million somewhere to be found?

Or even a share issue, offered to all parties, discounted to Dell.

Is that allowed, you can backtrack, call the whole thing off? The EFL did on Jack Marriott, and the Maikel Kieftenbeld transfer from Birmingham. All those owed money would then get paid in full, including this site.

Who's typing for you?

[Ambitious]

3 minutes ago, Crewton said:

If that was remotely feasible, he wouldn't have called in the Administrators in first place. Now, we have to exit Administration to the satisfaction of the EFL and I highly doubt they'd be open to giving Mel a 2nd chance at passing the "fit and proper" test. He's no Peter Ridsdale ? 

 

In classic Mel Morris style, I think he believed he could get the administrators to blame covid and hit admin without the point deduction, hence why they appealed it in the first place. When they realised he's just a daft, shady bloke they called the appeal off. 

He didn't need to put us into admin, that much I'm certain of, but he tried to be clever again IMO. 

[i-Ram]

20 minutes ago, The Scarlet Pimpernel said:

Yes he does have a very nice house in Sandbanks and I understand what you are saying but we are talking about if he still has significant millions (cash or readily disposable assets) for the club. I'm doubtful. 

I take it the lawn hasn’t been mowed since September.

[PistoldPete]

4 minutes ago, i-Ram said:

I take it the lawn hasn’t been mowed since September.

Maybe his garden has had more attention since September than anytime in last seven years. 

[Ram-Alf]

13 minutes ago, PistoldPete said:

Maybe his garden has had more attention since September than anytime in last seven years. 

Mels neighbours looking for MM as he digs for the last few Millions he has left.

[Barney1991]

2 hours ago, Crewton said:

No, they don't, because on liquidation, the players cease to be contracted to the club and can in principle sign for anyone. The EFL regulations simply provide some guarantee that football creditors get some of the money due to them, because otherwise they're simply unsecured creditors if there's no Phoenix club wanting EFL approval. 

I thought I’d seen msd have guarantees on players aswell in there contract as collateral 

[Tamworthram]

2 hours ago, Betty Swollocks said:

As a preferred creditor they are entitled to more than normal creditors.

Generally in football admins 25% is the usual payout so theoretically we could offer HMRC 26% and we are still within the rules as "Preferring" them

I thought “preferential” means they have to be paid first not that they have to be paid a higher % than other creditors.

As I understood it, if they agree, and there are sufficient funds, all creditors could get 25%. None preferred creditors don’t have to settle for a lesser percentage than HMRC.

I could be wrong of course.

[kevinhectoring]

17 hours ago, Curtains said:

Is this stuff all being put out pre HMRC talks to focus minds .

 How much of this HMRC debt is secured creditor status .

Maybe some of the HMRC debt is at 25 percent as it is prior to the new  secured creditors status rule   ! 

The HMRC debt won’t all be new ! 

According to the gov.uk site it’s the date of the insolvency that matters, not the date the debt is incurred. Don’t think there is a limit on the preferred amount - it seems to cover all of the following :

Value Added Tax (VAT)

Pay As You Earn (PAYE) Income Tax

employee National Insurance contributions (NICs)

plus a few other things that aren’t relevant to a football club