IslandExile Posted February 23, 2022 Share Posted February 23, 2022 1 minute ago, angieram said: But Friday isn't imminent, it's 48 hours! It's certainly not Wednesday. Link to comment Share on other sites More sharing options...
I am Ram Posted February 23, 2022 Share Posted February 23, 2022 What if we hear nothing friday ? Link to comment Share on other sites More sharing options...
Gaspode Posted February 23, 2022 Share Posted February 23, 2022 13 minutes ago, I am Ram said: What if we hear nothing friday ? then we wait patiently until we do hear something? rynny, atherstoneram, FlyBritishMidland and 5 others 1 7 Link to comment Share on other sites More sharing options...
I am Ram Posted February 23, 2022 Share Posted February 23, 2022 Just now, Gaspode said: then we wait patiently until we do hear something? That's fine, but we have not been waiting ten days for the news we want, it's been months. Link to comment Share on other sites More sharing options...
PistoldPete Posted February 23, 2022 Share Posted February 23, 2022 (edited) 8 minutes ago, I am Ram said: That's fine, but we have not been waiting ten days for the news we want, it's been months. If we hear nothing Friday then we wait til next week. If we hear nothing by middle of next week then I would be very surprised. Ps we have a match today to keep us occupied . Edited February 23, 2022 by PistoldPete I am Ram 1 Link to comment Share on other sites More sharing options...
Turnstile Posted February 23, 2022 Share Posted February 23, 2022 39 minutes ago, I am Ram said: After Morris and Gibson sorted out their differences, i thought the wheels would turn a little bit quicker than this. I know we need to be patient, but don't they realise a named bidder would give us all a massive lift players/staff/fans alike. Could be the difference, come the end of the season. 'Gerron wi it' ffs No one seems to be bothered!! Didn’t Morris say the target date for being out of administration was MAY.Some good that is,more administrators fees to be found and no chance of signing out of contract players. It seems the EFL aren’t the only ones doing their best to make sure we are relegated . Link to comment Share on other sites More sharing options...
PistoldPete Posted February 23, 2022 Share Posted February 23, 2022 3 minutes ago, Turnstile said: No one seems to be bothered!! Didn’t Morris say the target date for being out of administration was MAY.Some good that is,more administrators fees to be found and no chance of signing out of contract players. It seems the EFL aren’t the only ones doing their best to make sure we are relegated . We can sign out of contract players if the Pb has paid a deposit. And if the Efl let’s us. I am more concerned about renewing existing player contracts for next year and beyond. Kathcairns, Ilkestonian and Crewton 2 1 Link to comment Share on other sites More sharing options...
BramcoteRam84 Posted February 23, 2022 Share Posted February 23, 2022 The administrators know what the deadlines are. They know precisely when we will run out of money, they have other avenues to get money if needed. There are three bidders and they need to conduct a negotiation to get to the best possible position. Negotiations never follow a precise project plan and timescale and curveballs regularly happen. I think we trust the experts to do their job. If it doesn’t happen this week it’s irrelevant, it only becomes relevant if bidders are pulling out and the big L becomes a possibility again. jono 1 Link to comment Share on other sites More sharing options...
Alty_Ram Posted February 23, 2022 Share Posted February 23, 2022 I've heard that they are waiting for 1000 posts on this thread... SaffyRam and jono 2 Link to comment Share on other sites More sharing options...
Bobby Posted February 23, 2022 Share Posted February 23, 2022 Excuse my ignorance of financial law/practice but naming a PB doesn’t guarantee they will end up buying? Wigan had several before they were eventually sold, being named PB just gives the bidder a chance to scrutinise the books properly and to try and negotiate with the creditors, if say HMRC stay firm the PB can just walk away. Derby4Me, LazloW, RadioactiveWaste and 1 other 1 3 Link to comment Share on other sites More sharing options...
Curtains Posted February 23, 2022 Share Posted February 23, 2022 6 minutes ago, Bobby said: Excuse my ignorance of financial law/practice but naming a PB doesn’t guarantee they will end up buying? Wigan had several before they were eventually sold, being named PB just gives the bidder a chance to scrutinise the books properly and to try and negotiate with the creditors, if say HMRC stay firm the PB can just walk away. That’s why I’m surprised about the 5 Million non returnable deposit being stipulated! Bobby 1 Link to comment Share on other sites More sharing options...
LazloW Posted February 23, 2022 Share Posted February 23, 2022 Yes, the slightly concerning thing about naming a PB is that it might only be the end of the beginning of this whole process and might still be a long way to go before we can come out of administration. Which is frustrating, but it will take as long as it takes. I’m quite confident that we won’t disappear though (whatever the EFL might want). Need to be patient but it’s hard! Derby4Me and RadioactiveWaste 2 Link to comment Share on other sites More sharing options...
atherstoneram Posted February 23, 2022 Share Posted February 23, 2022 1 hour ago, IslandExile said: The Administrators said at the time that it would be around 10 working days - that's Friday. They didn't specify a day/date, as you yourself posted "around 10 working days" so don't be surprised if it's longer. Link to comment Share on other sites More sharing options...
Ram-Alf Posted February 23, 2022 Share Posted February 23, 2022 13 minutes ago, Bobby said: Excuse my ignorance of financial law/practice but naming a PB doesn’t guarantee they will end up buying? Wigan had several before they were eventually sold, being named PB just gives the bidder a chance to scrutinise the books properly and to try and negotiate with the creditors, if say HMRC stay firm the PB can just walk away. Most are aware of that on here, It just gives the PB the time to scrutinise the books, See what debt they are taking on and other sundries, Appleby and co i'm sure would have a good idea on what's what as he's an ex joint owner, Binnies on the otherhand are wealthy but stepping into the unknown where English "soccer" is concerned in other words a "god damn minefield" Ashley is a warhorse he'll screw the last bit of blood he can out of this situation, And if he gets it i'll be well pleased, Someone WHO KNOWS what's what in English football Bobby, Kathcairns, Derby4Me and 1 other 1 1 2 Link to comment Share on other sites More sharing options...
atherstoneram Posted February 23, 2022 Share Posted February 23, 2022 2 minutes ago, Unlucky Alf said: Most are aware of that on here, It just gives the PB the time to scrutinise the books, See what debt they are taking on and other sundries, Appleby and co i'm sure would have a good idea on what's what as he's an ex joint owner, Binnies on the otherhand are wealthy but stepping into the unknown where English "soccer" is concerned in other words a "god damn minefield" Ashley is a warhorse he'll screw the last bit of blood he can out of this situation, And if he gets it i'll be well pleased, Someone WHO KNOWS what's what in English football Somehow i don't think Ashley will be the best option from the creditors and possibly administrators view. Hasn't he just put a company called Studio into liquidation because he couldn't get any backers to help take on the debt and lost £20 odd million in the process. Link to comment Share on other sites More sharing options...
Ram-Alf Posted February 23, 2022 Share Posted February 23, 2022 11 minutes ago, atherstoneram said: Somehow i don't think Ashley will be the best option from the creditors and possibly administrators view. Hasn't he just put a company called Studio into liquidation because he couldn't get any backers to help take on the debt and lost £20 odd million in the process. Not quite https://www.chroniclelive.co.uk/news/uk-news/studio-retail-administration-mike-ashely-23160564 Link to comment Share on other sites More sharing options...
Crewton Posted February 23, 2022 Share Posted February 23, 2022 45 minutes ago, Bobby said: Excuse my ignorance of financial law/practice but naming a PB doesn’t guarantee they will end up buying? Wigan had several before they were eventually sold, being named PB just gives the bidder a chance to scrutinise the books properly and to try and negotiate with the creditors, if say HMRC stay firm the PB can just walk away. There's no reason why they won't already have a full picture of the club's finances. They'll all have signed Confidentiality Agreements, Quantuma SHOULD have put together an information room - you simply don't get anything more than a provisional expression of interest without that. From being appointed PB, there should be no material changes or surprises from the club's end : it should be more about reaching agreement with the Creditors, especially MSD, HMRC and of course MM and the EFL. If the PB falls away after this stage, it'll either be because agreement can't be reached with those parties, or Quantuma haven't done their job properly in putting together the financials etc. Bobby 1 Link to comment Share on other sites More sharing options...
Gritstone Ram Posted February 23, 2022 Share Posted February 23, 2022 42 minutes ago, Curtains said: That’s why I’m surprised about the 5 Million non returnable deposit being stipulated! It’s probably the reason they are asking for it. Curtains 1 Link to comment Share on other sites More sharing options...
atherstoneram Posted February 23, 2022 Share Posted February 23, 2022 8 minutes ago, Unlucky Alf said: Not quite https://www.chroniclelive.co.uk/news/uk-news/studio-retail-administration-mike-ashely-23160564 But they couldn't get a backer(s) to complete a £25M rescue package,other media outlets have reported if it goes under he stands to lose £20M+as he is the companys biggest shareholder Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted February 23, 2022 Share Posted February 23, 2022 Of the three, I'd like Appleby as the GSE ownership was frustrating and penny pinching but professional and diligent. Ashley I don't hate but don't love either. If it's run on a nil investment basis like Newcastle we can all get board very quickly but if it's get in the prem to advertise sports direct then it'll be fun for a while. Binnies, unknown, could be great, could be our SISU IslandExile, Anon, TuffLuff and 1 other 1 3 Link to comment Share on other sites More sharing options...
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