PistoldPete Posted February 27, 2022 Share Posted February 27, 2022 22 minutes ago, CBRammette said: Why dont we just wait and see? Patience? Don't you realise its mostly men on this forum? We don't do patience. CBRammette and jimtastic56 1 1 Link to comment Share on other sites More sharing options...
Ram-Alf Posted February 27, 2022 Share Posted February 27, 2022 12 minutes ago, CBRammette said: Just General Isations!! I know nothing Link to comment Share on other sites More sharing options...
I am Ram Posted February 27, 2022 Share Posted February 27, 2022 1 minute ago, PistoldPete said: Patience? Don't you realise its mostly men on this forum? We don't do patience. Yeah, we aint doctors. jimtastic56 and atherstoneram 2 Link to comment Share on other sites More sharing options...
IslandExile Posted February 27, 2022 Share Posted February 27, 2022 (edited) 15 minutes ago, CBRammette said: It is a good read. I think the word "ego" is the key isnt it. It seems to be a real "i've made it" type purchase. But if it is Ashley he's already done his "I made it" purchase so hoping he is more considered. Or he's always been a secret Derby fan, bought Newcastle because they had black and white and when he gets here he does go crazy!! Would be the Derby way These business people appear to buy clubs for different reasons. Some are genuine supporters; some want to put something back to the local community; some see it as a business opportunity - building up a club to sell it on or to fleece its revenue stream. I fear Ashley, because of his core business, wants to be involved in sport and, essentially, to have the advertising space. The (only?) positive for us is that those adverts would get more exposure if the club was in the Premier League. He also did well out of the Newcastle sale. Edited February 27, 2022 by IslandExile CBRammette 1 Link to comment Share on other sites More sharing options...
Kingpin Posted February 27, 2022 Share Posted February 27, 2022 Can’t see the likes of M. A. being that keen on renting the stadium. RAM1966 1 Link to comment Share on other sites More sharing options...
CornwallRam Posted February 27, 2022 Share Posted February 27, 2022 56 minutes ago, CornwallRam said: £30m ? The point of taking the 15 point penalty is that it will save about £30m. It will also dampen expectations and give the new owners a year where promotion isn't a possibility. jimtastic56 1 Link to comment Share on other sites More sharing options...
Big Trav Posted February 27, 2022 Share Posted February 27, 2022 42 minutes ago, hintonsboots said: Who told you, without giving names/roles etc ? Is it reliable information? Agents are king. Especially when he manages someone high up in the club. Usually he’s reliable and also earns me a few bob with betting etc?he has been wrong before when he told me we were getting terry. But he’s usually very reliable hintonsboots 1 Link to comment Share on other sites More sharing options...
kevinhectoring Posted February 27, 2022 Share Posted February 27, 2022 8 minutes ago, Kingpin said: Can’t see the likes of M. A. being that keen on renting the stadium. Depends mainly on the rent I’d think. If it’s rented I hope the club will have an option on it Link to comment Share on other sites More sharing options...
jimtastic56 Posted February 27, 2022 Share Posted February 27, 2022 1 hour ago, Tyler Durden said: You can't polish the turd which Morris left for the administrators to try and make an attractive proposition for prospective buyers to come in and throw their money at. Not sure how you attribute this as a failing of the admins. Didn’t we expect Rooney to do this? Bringing in advertising , players , shirt sales etc. That’s why he is the top paid manager in the league. Or was it another misjudgement by Mel? Tyler Durden 1 Link to comment Share on other sites More sharing options...
PistoldPete Posted February 27, 2022 Share Posted February 27, 2022 4 minutes ago, CornwallRam said: The point of taking the 15 point penalty is that it will save about £30m. It will also dampen expectations and give the new owners a year where promotion isn't a possibility. How do you work that out? If we pay 25p in the £1 to unsecured crediors (who are about £10m excluding HMRC), that costs us £2.5 million. If we pay only 24 p in the £1 that saves us about £100k. But would probably mean penalty points, so not worth considering, surely? . Link to comment Share on other sites More sharing options...
CBRammette Posted February 27, 2022 Share Posted February 27, 2022 29 minutes ago, PistoldPete said: Patience? Don't you realise its mostly men on this forum? We don't do patience. I fear if I answer this properly I will be banned unless Angie is moderator at the moment!! jimtastic56, Dordogne-Ram and archram 3 Link to comment Share on other sites More sharing options...
Chester40 Posted February 27, 2022 Share Posted February 27, 2022 17 minutes ago, CornwallRam said: The point of taking the 15 point .....to dampen expectations and give the new owners a year where promotion isn't a possibility. If this is what Mike Ashley is thinking I would be staggered and concerned. RoyMac5 1 Link to comment Share on other sites More sharing options...
Foreveram Posted February 27, 2022 Share Posted February 27, 2022 3 minutes ago, CBRammette said: I fear if I answer this properly I will be banned unless Angie is moderator at the moment!! Hope not , she’s got housework to do ? CBRammette, jimtastic56 and Mostyn6 3 Link to comment Share on other sites More sharing options...
RoyMac5 Posted February 27, 2022 Share Posted February 27, 2022 30 minutes ago, CornwallRam said: The point of taking the 15 point penalty is that it will save about £30m. It will also dampen expectations and give the new owners a year where promotion isn't a possibility. How will it save £30m? Link to comment Share on other sites More sharing options...
StarterForTen Posted February 27, 2022 Share Posted February 27, 2022 Anyone know what the lowest price DCFC could be bought for and still remain an EFL club? I'm assuming that just means paying football creditors in full and covering the cost of the Administration? I appreciate a points penalty would follow - and the EFL would demand to see proof of future funding under an imposed business plan - but it would be good to appreciate the rock bottom figure. I would be guessing at around £15m?? Link to comment Share on other sites More sharing options...
CornwallRam Posted February 27, 2022 Share Posted February 27, 2022 (edited) 42 minutes ago, PistoldPete said: How do you work that out? If we pay 25p in the £1 to unsecured crediors (who are about £10m excluding HMRC), that costs us £2.5 million. If we pay only 24 p in the £1 that saves us about £100k. But would probably mean penalty points, so not worth considering, surely? . As I mentioned earlier, it has very little to do with the unsecured creditors - the £10m appears to include some football debts, so I think the real figure is about £8m. It's all about HMRC. If they'll settle for 25%, then we might be able to get an EFL compliant CVA. However, I don't think they will. They fought for too long to get the power to demand 100% to instantly give that power away again. And if HMRC were willing to back down, I believe we'd have a preferred bidder by now and be days away from a new owner. The point is, with Boro out of the way we can do a cram down. If that's going to ruled non-compliant by the EFL, we might as well go for the minimum a court will grant, rather than 25%. We'll get a points deduction whether we pay 15% or 25%. Edited February 27, 2022 by CornwallRam Link to comment Share on other sites More sharing options...
Grumpy Git Posted February 27, 2022 Share Posted February 27, 2022 1 hour ago, PistoldPete said: Patience? Don't you realise its mostly men on this forum? We don't do patience. Neither do wimmin when the bathroom needs re-tiling. Link to comment Share on other sites More sharing options...
CornwallRam Posted February 27, 2022 Share Posted February 27, 2022 26 minutes ago, RoyMac5 said: How will it save £30m? 100% of £30m to HMRC and 25% of £8m to the unsecured is around £32m. 15% to both is £5.7m. 32-5.7 is about £30m if you squint a bit ? jimtastic56 1 Link to comment Share on other sites More sharing options...
RoyMac5 Posted February 27, 2022 Share Posted February 27, 2022 Just now, CornwallRam said: 100% of £30m to HMRC and 25% of £8m to the unsecured is around £32m. 15% to both is £5.7m. 32-5.7 is about £30m if you squint a bit ? What is this based on? Your HMRC calculations have been questioned already? Link to comment Share on other sites More sharing options...
duncanjwitham Posted February 27, 2022 Share Posted February 27, 2022 11 minutes ago, CornwallRam said: As I mentioned earlier, it has very little to do with the unsecured creditors - the £10m appears to include some football debts, so I think the real figure is about £8m. It's all about HMRC. If they'll settle for 25%, then we might be able to get an EFL compliant CVA. However, I don't think they will. They fought for too long to get the power to demand 100% to instantly give that power away again. And if HMRC were willing to back down, I believe we'd have a preferred bidder by now and be days away from a new owner. The point is, with Boro out of the way we can do a cram down. If that's going to ruled non-compliant by the EFL, we might as well go for the minimum a court will grant, rather than 25%. We'll get a points deduction whether we pay 15% or 25%. I'm not sure this is right at all (I'm not an expert etc, so fully prepared to admit I'm wrong here)... The requirement for a CVA has apparently been dropped from the EFL insolvency policy (https://www.lawinsport.com/topics/features/item/football-creditors-rule-is-the-football-league-s-new-insolvency-policy-a-step-in-the-right-direction). There's nothing stopping us using some kind of restructuring plan now, with just the requirements on minimum percentages paid etc. The issue with 'Boro wasn't that we weren't allowed to cram down as such, it was that we were using it to squash what the EFL deemed to be a potential football debt out of existence. As I understand the cram-down thing, the point is to avoid paying creditors that wouldn't receive anything anyway if we were liquidated. So I don't see how HMRC affects that at all - they're the biggest single unsecured creditor. Any cramming down would be on the smaller creditors, and would be dependant on us having an agreement with HMRC in place. Either HMRC are going to agree some percentage with a new buyer, or we get liquidated. There is no middle ground here. So we're back on @PistoldPete's point, that there's no point in a new buyer losing 15 points over maybe a couple of million. RoyMac5 1 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