The Administration Thread

[Eatonram]

I think we need to put the ball in the Boro/wycombe court to force them to turn down or accept an offer. Along the lines of we accept no liability whatsoever, however, to break this impasse and meet the Government's aim of finding a pragmatic solution we offer to make a donation to Charities of their choosing of £100k to each club if they agree to drop their claims. This is a one off time limited offer to draw a line under the issue.

It would simply make everyone look in their direction and ask Well? They need to be forced, publicly to make a decision on some sort of offer....if they turn it down we say we tried but, as we expected, they simply want money from us.

[kevinhectoring]

4 minutes ago, Maharan said:

I thought that if they went down the restructuring route through the courts, unsecured creditors would likely get less than 25%, and quantuma seems to be saying that’s the only route available. If they could secure 25%, then surely a CVA would be better 

Guess I’d assumed the plan involved 25% to unsecureds and peanuts to the ‘compressed’ claims by B and M 

[Crewton]

1 minute ago, Coconut's Beard said:

...but also can create new rules to close.

Absolutely - I'm just hoping that pressure from MPs, DCMS and the hugely negative publicity they are receiving will persuade them to do that.

[Hanny]

9 minutes ago, RoyMac5 said:

Surely if the EFL said they're not football creditors then even if Gibson came after them he wouldn't win?

This is my thinking. Up to this point, EFL seem to have wanted the claims (especially them pushing the claim off of them towards Derby) quiet. But with the new public scrutiny, the EFL might find as a blessing.
 

If they throw out these claims as spurious, there will be enough public sentiment (and possibly letter of the law) to protect themselves from any further spurious claims by Boro and Wyc.  ?‍♂️

[Maharan]

3 minutes ago, kevinhectoring said:

Guess I’d assumed the plan involved 25% to unsecureds and peanuts to the ‘compressed’ claims by B and M 

You may be right.I’d just assumed that if they were planning on restructuring, then that was because the bids weren’t enough to satisfy a CVA exit, (before the 2 claims are added on top). 

[strawhillram]

1 minute ago, Hanny said:

This is my thinking. Up to this point, EFL seem to have wanted the claims (especially them pushing the claim off of them towards Derby) quiet. But with the new public scrutiny, the EFL might find as a blessing.
 

If they throw out these claims as spurious, there will be enough public sentiment (and possibly letter of the law) to protect themselves from any further spurious claims by Boro and Wyc.  ?‍♂️

The real bad guy is Gibson, the efl are just inept  puppets

[td_evans]

Wonder if the council will step in with funding?

Edited January 19, 2022 by td_evans

[JuanFloEvraTheCocu'sNesta]

The EFL and Boro will not like the fact their backroom deal is being thrown in to the spotlight. Need to keep pushing on that.

[cosmic]

Finally some national news coverage

 

[RoyMac5]

Just now, StrawHillRam said:

The real bad guy is Gibson, the efl are just inept  puppets

Don't believe that, I don't believe it. They are self-serving malevolent bankers!

[kevinhectoring]

3 minutes ago, Maharan said:

You may be right.I’d just assumed that if they were planning on restructuring, then that was because the bids weren’t enough to satisfy a CVA exit, (before the 2 claims are added on top). 

I think it’s the two poxy claims that have sent them down the restructuring route. Unfortunately they didn’t spot the football creditors point 

[Maharan]

6 minutes ago, Eatonram said:

I think we need to put the ball in the Boro/wycombe court to force them to turn down or accept an offer. Along the lines of we accept no liability whatsoever, however, to break this impasse and meet the Government's aim of finding a pragmatic solution we offer to make a donation to Charities of their choosing of £100k to each club if they agree to drop their claims. This is a one off time limited offer to draw a line under the issue.

It would simply make everyone look in their direction and ask Well? They need to be forced, publicly to make a decision on some sort of offer....if they turn it down we say we tried but, as we expected, they simply want money from us.

Absolutely agree.I do think there may be a case of Gibson just wanting someone to say his claim has some validity, or admission from the administration that there is a case to answer. Not sure it’s about the money anymore. 
 

if that’s the case, I don’t care how wrong it feels, just agree. You don’t have to mean it. Cross your fingers behind your back or something. Just swallow a bitter pill and get the risk of liquidation off the table. 

[kevinhectoring]

1 minute ago, td_evans said:Wonder if the council will step in with funding?

This is the era of populist politics. There’s every chance ... 

[Derbados]

3 minutes ago, JuanFloEvraTheCocu'sNesta said:

The EFL and Boro will not like the fact their backroom deal is being thrown in to the spotlight. Need to keep pushing on that.

This needs screaming about from the rooftops

[Eddie]

45 minutes ago, CapeTownRam said:

Is there a rule in EFL handbook that states : The punishment for the governing body colluding with a member to the detriment of another member is?

Yes. Thay apply the 'Big Brother v Winston in room 101' scenario, as applicable.

"Do it to Julia! Do it to Julia! Not me! Julia! I don’t care what you do to her. Tear her face off, strip her to the bones. Not me! Julia! Not me!"

[HectorsHouse]

2 minutes ago, Derbados said:

This needs screaming about from the rooftops

I’ve been in meetings all day? what has come to light and how has it been aired..?

[Sparkle]

1 hour ago, Leeds Ram said:

If Toby Perkins reporting is accurate then the only way we're saved is if the EFL give in and change their mind. I honestly cannot see that happening given the amount of pressure we've already put on them and their unwillingness to budge. Seriously duck the lot of them. 

It’s not about giving in it’s about making a decision and making it now ! 

[Derbados]

Just now, HectorsHouse said:

I’ve been in meetings all day? what has come to light and how has it been aired..?

The Administrators met with the Council and informed them that Middlesbrough threatened to sue the EFL if they didn’t deal with us. The EFL then deflected those claims and assisted Boro in bringing their claims against us

[SBW]

The only saving grace/hope to cling on is; Admin's rejected the Sibley bid.

On the face of it, it's kind of a bonkers move if what that MP says is true re: Boro and Wycombe's standing pat = liquidation.

If that was the case, I can only assume Q would have to sell assists in one last desperate attempt (won't get into why I think it should have happened sooner) 

There's nothing to go off, outside of Q's total inaction which leaves some vague hope there is something there they're confident can at the least, see the season out.  

[Crazy]

It sounds like the administrators are confident of funding for the season. I suspect this is in the form of a loan - from one of the bidders, Mel, MSD, the council, or somewhere else. Good news: we'll not be liquidated in 2 weeks, nor do we have to sell our crown jewels for peanuts. Bad news: the takeover saga is going to drag on quite a bit longer, as there's no agreement with the EFL on that.