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The Administration Thread


Boycie

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My view is, deadline probably 17-00 for example. 15 minutes before 3 sets of proposals will be handed over to the admin. Tonight and tomorrow the admin along with legal teams will examine the bids, tomorrow afternoon they will engage with the preferred bidder and his respective legal team. Work it all through, present to EFL on Friday. EFL agree and preferred bidder announced.

 

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2 hours ago, alram said:

yes it is. they achieve benefits to creditors by selling the club. if you don't improve the chances of a sale they don't get paid

Unless liquidation would bring in more - and seeing as the playing staff are saleable assets, that still remains a (albeit unlikely) possibility.

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So we think today is supposed to be the deadline, I'd imagine that means a 5pm cut off, but the administrators aren't going to go "oh Ashley was a minute late with the bid, he's discounted"

It's if there's no noise to the effect of "we're reviewing the bids and will reach a determination shortly" by the weekend I'll start to get a bit glum.

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A preferred bidder will not be announced this week IMO. There will be a curve ball that delays it.

That doesn’t mean it’s impending doom, they could be set to name a preferred bidder and then a higher bid comes in. At some point the admins will need to call stumps and make a decision but only when they’ve squeezed out as much as they can and taken it as close to the wire on our finances. The bidders are doing exactly the same - it’s called a negotiation.
 

If you hear that all the bidders have walked away - that’s the time to panic.

Edited by BramcoteRam84
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20 minutes ago, Jimbo Ram said:

Yep, delighted that no formal offers have yet been submitted....

 

25 minutes ago, DCFC27 said:

My view is, deadline probably 17-00 for example. 15 minutes before 3 sets of proposals will be handed over to the admin. Tonight and tomorrow the admin along with legal teams will examine the bids, tomorrow afternoon they will engage with the preferred bidder and his respective legal team. Work it all through, present to EFL on Friday. EFL agree and preferred bidder announced.

 

 

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22 minutes ago, BramcoteRam84 said:

A preferred bidder will not be announced this week IMO. There will be a curve ball that delays it.

That doesn’t mean it’s impending doom, they could be set to name a preferred bidder and then a higher bid comes in. At some point the admins will need to call stumps and make a decision but only when they’ve squeezed out as much as they can and taken it as close to the wire on our finances. The bidders are doing exactly the same - it’s called a negotiation.
 

If you hear that all the bidders have walked away - that’s the time to panic.

we are running out of time.

if no bidder by the deadline from the efl then what?

 

feels like we are sleepwalking into disaster

Edited by alram
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I think we all need to calm the fook down.  Today is the deadline, today there will be 3 offers from the interested parties.  How do I know this, its simple, we hard 3 parties interested in buying the club but wanyed Boro settled.  Its settled, therefore the interested parties will submit thier offers today.

Q will review and present PB to EFL on Mon and announce late Mon or early Tues would be a realistic timeline in my view....  It could be quicker, but at the speed these negotiations have gone, I'd very much doubt it....

Edited by RAM1966
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3 hours ago, alram said:

yes it is. they achieve benefits to creditors by selling the club. if you don't improve the chances of a sale they don't get paid

I think there is zero chance, regardless of the outcome, that the administrators won’t get paid if that’s what your suggesting.

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It's also probably the case the bids aren't going to be directly comparable.

The headline number obviously matters most bit all the details can make a difference.

Unless the administrators had detailed a line by line costing to he returned and tight requirements on the form of the bid, the assumptions, limitations and Ts and C's on all the offers will need looked at.

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24 minutes ago, Tamworthram said:

I think there is zero chance, regardless of the outcome, that the administrators won’t get paid if that’s what your suggesting.

I think Alram thinks administrators are like ambulance chasing spivvy lawyers rather than court appointed professionals. ( Who will quite rightly earn a fee for their knowledge, experience and work - as in most walks of life ) 

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