PistoldPete Posted January 4, 2022 Share Posted January 4, 2022 17 minutes ago, Charlotte Ram said: Southampton were sold for £100 million in cash and the new buyer another east European assumed £105 million of debt so the effective sale price was £205 million, also of note was that some of that debt was owned by MSD Exactly all these figures bandied around when clubs get bought are quite random. £30 milion for Derby could mean anything but the cost to a buyer is likely to be much more than that, which is why Kirchner has been outbid. jono 1 Link to comment Share on other sites More sharing options...
atherstoneram Posted January 4, 2022 Share Posted January 4, 2022 38 minutes ago, Gee SCREAMER !! said: HMRC will agree a payment plan based on a 40% up front payment of what's agreed with a two year payment plan to follow. Other creditors -rightly or wrongly will agree less. Football creditors will push for more. 30 million will probably swing it with payment plan unless Morris wants some. Wouldn't be surprised to see a couple go for frees- big earners to make the wage bill manageable on a monthly basis and others - cash to reduce liability prior to the finalising of a sale. Think that was obvious from December though. It will be tight though and for the next few years it will be loans and frees if that's the best offer. Under HMRC rules all preferred creditors have to be paid the same and cannot choose the option of not paying one creditor in preference to another. The administrators don't have to sell to anyone unlike what some people on here think. They will also want to know in great detail the plans for payment going forward including a CVA. If the administrators don't think the proposal is workable it will be rejected If that shows that outgoings are going to exceed incomings. They will not want to see the club entering administration in the future due to lack of due diligence on their part. Link to comment Share on other sites More sharing options...
PistoldPete Posted January 4, 2022 Share Posted January 4, 2022 1 minute ago, atherstoneram said: Under HMRC rules all preferred creditors have to be paid the same and cannot choose the option of not paying one creditor in preference to another. The administrators don't have to sell to anyone unlike what some people on here think. They will also want to know in great detail the plans for payment going forward including a CVA. If the administrators don't think the proposal is workable it will be rejected If that shows that outgoings are going to exceed incomings. They will not want to see the club entering administration in the future due to lack of due diligence on their part. HMRC don't make the rules on insolvency. Link to comment Share on other sites More sharing options...
atherstoneram Posted January 4, 2022 Share Posted January 4, 2022 Just now, PistoldPete said: HMRC don't make the rules on insolvency. I suggest you read up regarding HMRC rules when HMRC are involved in the business in administration Link to comment Share on other sites More sharing options...
PistoldPete Posted January 4, 2022 Share Posted January 4, 2022 7 minutes ago, atherstoneram said: I suggest you read up regarding HMRC rules when HMRC are involved in the business in administration There are rules made up by HMRC and there is the law. They are not the same. i-Ram, GB SPORTS and atherstoneram 1 2 Link to comment Share on other sites More sharing options...
Gee SCREAMER !! Posted January 4, 2022 Share Posted January 4, 2022 (edited) 16 minutes ago, atherstoneram said: Under HMRC rules all preferred creditors have to be paid the same and cannot choose the option of not paying one creditor in preference to another. The administrators don't have to sell to anyone unlike what some people on here think. They will also want to know in great detail the plans for payment going forward including a CVA. If the administrators don't think the proposal is workable it will be rejected If that shows that outgoings are going to exceed incomings. They will not want to see the club entering administration in the future due to lack of due diligence on their part. They certainly had varying degrees of payments based on the creditors reports I worked with albeit 10 years ago. If we get an acceptable bid for any player in order to reduce liability they will go, if an entity has an asset that can reduce liability and allow payment to be reduced prior to plan being agreed, that's it. Even then, any plan will be under 3 monthly review to see if payments can be increased and this will be a caveat of any plan with HMRC debt of this size. Edited January 4, 2022 by Gee SCREAMER !! Link to comment Share on other sites More sharing options...
PistoldPete Posted January 4, 2022 Share Posted January 4, 2022 2 minutes ago, Gee SCREAMER !! said: They certainly had varying degrees of payments based on the creditors reports I worked with albeit 10 years ago. If we get an acceptable bid for any player in order to reduce liability they will go, if an entity has an asset that can reduce liability and allow payment to be reduced prior to plan being agreed, that's it. Even then, any plan will be under 3 monthly review to see if payments can be increased and this will be a caveat of any plan with HMRC of this size. Oh yes the admin team have to cut costs. We do have 16 players out of contract in the summer, which will be one way of cutting costs. jimtastic56 1 Link to comment Share on other sites More sharing options...
atherstoneram Posted January 4, 2022 Share Posted January 4, 2022 1 hour ago, PistoldPete said: There are rules made up by HMRC and there is the law. They are not the same. Mmmm lets see HMRC a government department,who makes the laws?. Link to comment Share on other sites More sharing options...
atherstoneram Posted January 4, 2022 Share Posted January 4, 2022 1 hour ago, Gee SCREAMER !! said: They certainly had varying degrees of payments based on the creditors reports I worked with albeit 10 years ago. If we get an acceptable bid for any player in order to reduce liability they will go, if an entity has an asset that can reduce liability and allow payment to be reduced prior to plan being agreed, that's it. Even then, any plan will be under 3 monthly review to see if payments can be increased and this will be a caveat of any plan with HMRC debt of this size. When i said the administrators don't have to sell to anyone i was referring to the club not players. Link to comment Share on other sites More sharing options...
PistoldPete Posted January 4, 2022 Share Posted January 4, 2022 24 minutes ago, atherstoneram said: Mmmm lets see HMRC a government department,who makes the laws?. No HMRC do not make laws. If they did they would have been preferred creditors long before now. The admin team has to act in the interests of all creditors not just HMRC. If HMRC act against the interests of other creditors or even against their own interest, then the admin team will just have to navigate around that. Link to comment Share on other sites More sharing options...
Inverurie Ram Posted January 4, 2022 Share Posted January 4, 2022 And remember kids, be careful what you wish for! Link to comment Share on other sites More sharing options...
atherstoneram Posted January 4, 2022 Share Posted January 4, 2022 20 minutes ago, PistoldPete said: No HMRC do not make laws. If they did they would have been preferred creditors long before now. The admin team has to act in the interests of all creditors not just HMRC. If HMRC act against the interests of other creditors or even against their own interest, then the admin team will just have to navigate around that. The HMRC won't act against the interest of other creditors or their own interest as for being preferred creditors that is why a change in the law came about. Yes the administrators will have to navigate around that but that may not be viable financially. Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 4, 2022 Share Posted January 4, 2022 4 minutes ago, Inverurie Ram said: And remember kids, be careful what you wish for! WTF. What utter poo. Inverurie Ram 1 Link to comment Share on other sites More sharing options...
IslandExile Posted January 4, 2022 Share Posted January 4, 2022 9 minutes ago, Inverurie Ram said: And remember kids, be careful what you wish for! Or you could dream.... (Dreams do come true) RoyMac5, Inverurie Ram and PistoldPete 1 2 Link to comment Share on other sites More sharing options...
Rev Posted January 4, 2022 Share Posted January 4, 2022 11 minutes ago, RoyMac5 said: WTF. What utter poo. Which bit is incorrect? Link to comment Share on other sites More sharing options...
GlastoEls Posted January 4, 2022 Share Posted January 4, 2022 5 minutes ago, IslandExile said: Or you could dream.... (Dreams do come true) Dunno - last three finals I’ve attended at Wembley were QPR, Aston Villa and England/Italy.. so my dreams have been battered out of me! IslandExile and Inverurie Ram 2 Link to comment Share on other sites More sharing options...
RoyMac5 Posted January 4, 2022 Share Posted January 4, 2022 5 minutes ago, Rev said: Which bit is incorrect? The history bit. Somewhat limited to say the least, gives a false impression of the Club. As for the rest, baalocks. Inverurie Ram and David Graham Brown 1 1 Link to comment Share on other sites More sharing options...
Carl Sagan Posted January 5, 2022 Share Posted January 5, 2022 Meanwhile, it's another day of waiting for the imminent announcement... Link to comment Share on other sites More sharing options...
Crewton Posted January 5, 2022 Share Posted January 5, 2022 5 minutes ago, Carl Sagan said: Meanwhile, it's another day of waiting for the imminent announcement... At least you're getting your daily exercise there, youth ? Carl Sagan and Comrade 86 2 Link to comment Share on other sites More sharing options...
Jimbo Ram Posted January 5, 2022 Share Posted January 5, 2022 So no new news then...... Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account.
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now