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The Administration Thread


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3 minutes ago, Rampant said:

No. Feel free to sing his praises if you wish. I think he's escaping his mess lightly.

I agree, there must be a new LAW, passed where community assets can not be treated like some rich kids train set.

Before someone starts shouting he lost £200m, thats yet to be proved as he's not written off the soft loans yet, nor has he sold the stadium.

Only one person to blame for this Im afraid, I know he didn't intentionly leave us in the state we are in.  However he's left us in a right mess for the following reasons:

Bought too many overvalued players.

Wages were far to high for signing ge made, making it difficult to move underperformers on.

At one point we were soending 151% of total on players salaries, its just reckless.

Made some awfil managerial apponts and sacked too many of them.

Didn't listen to his advisors and simply drove the club at speed off a cliff.

Great job Mel!

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2 minutes ago, RAM1966 said:

I agree, there must be a new LAW, passed where community assets can not be treated like some rich kids train set.

Before someone starts shouting he lost £200m, thats yet to be proved as he's not written off the soft loans yet, nor has he sold the stadium.

Only one person to blame for this Im afraid, I know he didn't intentionly leave us in the state we are in.  However he's left us in a right mess for the following reasons:

Bought too many overvalued players.

Wages were far to high for signing ge made, making it difficult to move underperformers on.

At one point we were soending 151% of total on players salaries, its just reckless.

Made some awfil managerial apponts and sacked too many of them.

Didn't listen to his advisors and simply drove the club at speed off a cliff.

Great job Mel!

That's a great point about the soft loans and a question I have asked several times.

Still not seen an official report to say Boro claim is actually settled or just an agreement in place.

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47 minutes ago, RipleyRich said:

I genuinely believe HMRC are out to make a point with a club as a message to all others that it will never be allowed to happen again.

Hoskin told us that he did not foresee problems with HMRC, who had agreed to be pragmatic given they view the club as a community asset. 
Obviously he or someone on his team has had this from the horse’s mouth. What makes you believe the contrary?

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12 hours ago, Yani P said:

They certainly did..you obviously didn't deal with rails bookies back in the day..they would lay horses to tens of thousands over the odds available based on their knowledge and judgment - very successfully to.

Fair enough Yani P. You are right I haven't. 

 

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2 hours ago, angieram said:

Appropriately for us mods, this is the first post on page 1,000.

What page are the rest of you on? 

I’m still round about page 3 dated sometime in 1984, reading about what people think Stuart Webb is going to do about the financial stituation we find ourselves in.

Hopefully, he has a plan to save us so we never have to go through an admin type scenario again.

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1 hour ago, RAM1966 said:

I agree, there must be a new LAW, passed where community assets can not be treated like some rich kids train set.

Before someone starts shouting he lost £200m, thats yet to be proved as he's not written off the soft loans yet, nor has he sold the stadium.

Only one person to blame for this Im afraid, I know he didn't intentionly leave us in the state we are in.  However he's left us in a right mess for the following reasons:

Bought too many overvalued players.

Wages were far to high for signing ge made, making it difficult to move underperformers on.

At one point we were soending 151% of total on players salaries, its just reckless.

Made some awfil managerial apponts and sacked too many of them.

Didn't listen to his advisors and simply drove the club at speed off a cliff.

Great job Mel!

I would add Pearce in this and potentially Rush not just Mel. I agree with the rest.

The 151% is interesting, I think Reading are something like 240%. I would imagine the vast majority are well over the 100%.

Other clubs supporters look at wages and debt as a reason we went into administration but that is incorrect, we are there because the owner (Mel) stopped funding. Other clubs, Reading, Middlesbrough, Stoke et al have bigger debts but have owners that own the debt themselves and continue to fund their clubs. 

Mel (for what ever reason) took outside loans and then stopped funding the day to day expenses. Owning a football club is a very rich mans sport. 

I would like to see a new approach to sustainability and a new regulator to do it.

things that need to be improved are:

- Parachute payments (they should be for high residual wages not to give a club a clear advantage)

- FFP, clear penalties that are not reduced on the whim of the EFL. Also better business plans where clubs keep with FFP limits and a better way of implementing points (where possible they should be given in the year of the infringement).Everybody has a go at Derby for delaying accounts but Reading delayed theirs. 

- A clear structure for dealing with Administration 

- A clear and transparent method of implementing embargo's  

- Quicker tribunals and punishments

- A better way of dealing with potential acts of god. The Covid rules benefited a number of clubs and not others such as those promoted.

 

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1 hour ago, Rammeister said:

I’m still round about page 3 dated sometime in 1984, reading about what people think Stuart Webb is going to do about the financial stituation we find ourselves in.

Hopefully, he has a plan to save us so we never have to go through an admin type scenario again.

Spoiler alert, Maxwell enters the fray on page 10.

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4 hours ago, angieram said:

Appropriately for us mods, this is the first post on page 1,000.

What page are the rest of you on? 

(Not aimed at you @angieram)

Some people seem more obsessed with the number of pages in this thread than whether we have come out of Administration.

Are we there yet? I mean 1000 pages, news of the Preferred Bidder can wait ?

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