The Administration Thread

[i-Ram]

4 hours ago, duncanjwitham said:

It's a term that seems to have been used in a similar way, by almost every single administrator of a football club in the last decade:

Wigan: https://www.skysports.com/football/news/11682/12033740/wigan-athletic-preffered-bidder-selected-by-administrators-of-stricken-club

Wigan again (different bidder): https://www.belfasttelegraph.co.uk/sport/football/wigan-administrators-reach-agreement-with-preferred-bidder-for-club-39576862.html

Bolton: https://www.manchestereveningnews.co.uk/news/greater-manchester-news/bolton-wanderers-preferred-bidder-accepted-16423526

Coventry: https://www.coventrytelegraph.net/sport/football/football-news/coventry-city-fc-administrator-selects-4317423

Aldershot Towen: https://www.bbc.co.uk/sport/football/23097932

Port Vale: https://www.independent.co.uk/sport/football/football-league/wildes-named-leading-bidder-for-port-vale-8213969.html

Portsmouth: https://www.theguardian.com/football/2012/oct/18/portsmouth-supporters-trust-bid

Hearts: https://www.bbc.co.uk/sport/football/23710037

Dunfermline: https://www.bbc.co.uk/sport/football/23198170

?. Please don’t though be putting real world facts in front of @kevinhectoring as he he is much more informed. I am beginning to think he might know more than my bloody wife.

Edited April 7, 2022 by i-Ram

[i-Ram]

15 minutes ago, angieram said:

Georgia is a political reporter but these questions and replies from Chris Poulter shed quite a bit of light on the stadium situation (and if you read further comments, Mel Morris). 

Chris Poulter is correct. The sooner Morris has nothing, absolutely nothing, to do with our football club can’t come soon enough.

If your cheques don’t bloody bounce you’re a Ram.

[Turk Thrust]

3 hours ago, r_wilcockson said:

Is this correct? No one seems to have picked up on it. I haven’t heard of this before. Anyone checked the rules?

[duncanjwitham]

1 minute ago, Turk Thrust said:

Is this correct? No one seems to have picked up on it. I haven’t heard of this before. Anyone checked the rules?

My understanding is that there would be an agreement as to how all the debt is being handled, at the point we exit admin.  We'd know if we are going to be paying 25% now, 35% later or neither. I don't see how we get to 2 years down the line and randomly decide to chuck a bit more at HMRC out of the goodness of our hearts.

[RadioactiveWaste]

5 minutes ago, Turk Thrust said:

Is this correct? No one seems to have picked up on it. I haven’t heard of this before. Anyone checked the rules?

I thought it was either 25p/£ upon exiting administration OR 35p/£ over two years were the minimum to avoid the 15 point penalties.

If its going to be over a period of time I think that has to be written into the creditors settlement documents.

 

Edited April 7, 2022 by RadioactiveWaste

[duncanjwitham]

Here's an article about Bolton hitting that (presumably) 35% mark:

https://www.business-live.co.uk/enterprise/bolton-wanderers-settle-debts-two-21473183

The key thing seems that they agreed a plan, and stuck to it, and therefore avoided the penalties.  If we just say now we're not paying 35%, we get -15.  If we say we're going to pay 35%, but don't manage it, we get -15.  If we agree to pay 35% and manage it, we get nothing.  There's no "pay 10% now and see how you feel in a few months" type deals, AFAIK.

[Curtains]

30 minutes ago, i-Ram said:

?. Please don’t though be putting real world facts in front of @kevinhectoring as he he is much more informed. I am beginning to think he might know more than my bloody wife.

No chance? lol

[Rev]

1 hour ago, Curtains said:

https://www.bbc.co.uk/programmes/p0bzszsj
 

Worth a listen

    Gerald Krasner and Simon Stone and Simon Long 

Really informative and will take minimum of 2 Months to do 

Can you sum it up, I ain't got 2 months spare to listen?

[Stive Pesley]

43 minutes ago, TuffLuff said:

With the points deduction I think it could be interesting. I think my big takeaway this season is that having teams with deductions is spoiling it somewhat. Not just for is, I mean the competition as a whole. Maybe it’s ok when everyone have something to play for, like mid season and with Sheff Wed last year, but like now there are nearly 10 clubs that it’s more or less decided for with 6 or more games to go. So we have teams that aren’t playing for anything against teams scrapping relegation or sneaking into the play offs with 18 points still up for grabs. 

It’s worth bearing in mind that we can see clubs now doing exactly what we did trying to reach the play offs and clubs spending their parachute money not achieving promotion, it’s quite likely other clubs are gonna be caught through ffp or even have to consider administration so we could be looking at season after season being disrupted by points deductions in the championship.

It wouldn’t surprise me if the EFL become very reluctant to keep handing out deductions and look at other solutions, which is probably what is happening with us now for next year that they will look at another way to hand out a punishment. The only issue is how would Derby feel if the rules change after the couple of seasons we’ve had to endure? Not to mention Bury and Macclesfield.

Spot on - and by the same logic, it's even worse for the competition if the club liquidates before the season ends. Imagine missing out on the play-offs because the 6 points you took off us got wiped. 

So the EFL and member clubs need to be careful what they wish for here 

[Curtains]

7 minutes ago, Rev said:

Can you sum it up, I ain't got 2 months spare to listen?

Basically don’t  take notice of anything on social media and if you hear anything before 3 weeks it will be CK pulling out ? lol

Edited April 7, 2022 by Curtains
Don’t or dont

[jono]

5 hours ago, Curtains said:

We have been in that territory for a while until City Council intervened on the Stadium with Mel which brought CK back to the table.  
Why Ashley and Appleby chose to stay on the fence was presumably it’s still a massive gamble 

Yep. You could well see CK or anyone like him agreeing a formal lease purchase deal with a public body like the city council but that isn’t the same as dealing with Mel and his payday loan friends at MSD which is all too vague beyond the short term. 
 

funnily enough I think it makes a lot of sense. It’s a safe long term steady income generating investment for a city council . Has to be - and it cements the community nature of the club and the asset. 

[RoyMac5]

15 minutes ago, duncanjwitham said:

Here's an article about Bolton hitting that (presumably) 35% mark:

https://www.business-live.co.uk/enterprise/bolton-wanderers-settle-debts-two-21473183

The key thing seems that they agreed a plan, and stuck to it, and therefore avoided the penalties.  If we just say now we're not paying 35%, we get -15.  If we say we're going to pay 35%, but don't manage it, we get -15.  If we agree to pay 35% and manage it, we get nothing.  There's no "pay 10% now and see how you feel in a few months" type deals, AFAIK.

?

"...Mrs Brittan said: "After a very challenging two years we are absolutely delighted to confirm that the club has reached agreement with its unsecured creditors.

This ensures that we have met our obligations, satisfied the EFL requirements and are therefore free of any embargoes and penalties."

[OoooMarkWright]

35 million was mentioned in the podcast thing with Ed Dawes. If it’s this price, surely that would cover HMRC and the football creditors and so avoiding further penalties??

Kirchner said in December that he was putting in up to 60m over 2 years in his bid. If he has those funds a 15 point punishment is not a guarantee, especially now the stadium isn’t part of the deal.

[Animal is a Ram]

52 minutes ago, angieram said:

Georgia is a political reporter but these questions and replies from Chris Poulter shed quite a bit of light on the stadium situation (and if you read further comments, Mel Morris). 

I get the distinct impression the council has been planning taking on the stadium for a bit longer than first thought... either that or they've moved far quicker than councils usually move!

[Gee SCREAMER !!]

7 minutes ago, enachops said:

35 million was mentioned in the podcast thing with Ed Dawes. If it’s this price, surely that would cover HMRC and the football creditors and so avoiding further penalties??

Kirchner said in December that he was putting in up to 60m over 2 years in his bid. If he has those funds a 15 point punishment is not a guarantee, especially now the stadium isn’t part of the deal.

Thats nice off him.  I would like to know where the hell he's getting it from though

[jono]

35 minutes ago, duncanjwitham said:

Here's an article about Bolton hitting that (presumably) 35% mark:

https://www.business-live.co.uk/enterprise/bolton-wanderers-settle-debts-two-21473183

The key thing seems that they agreed a plan, and stuck to it, and therefore avoided the penalties.  If we just say now we're not paying 35%, we get -15.  If we say we're going to pay 35%, but don't manage it, we get -15.  If we agree to pay 35% and manage it, we get nothing.  There's no "pay 10% now and see how you feel in a few months" type deals, AFAIK.

This really cheering me up. I can face L1 .. eh it’s a game and there are good teams and fans there. What was going to wound my spirit was starting another season anywhere hammered to the bottom before a ball was kicked. I am sensing we might avoid that - for a time at least? 

[hintonsboots]

25 minutes ago, Curtains said:

if you hear anything before 3 weeks it will be CK pulling out ? lol

 

[scout's dad]

52 minutes ago, Turk Thrust said:

Is this correct? No one seems to have picked up on it. I haven’t heard of this before. Anyone checked the rules?

If it is, makes last 6 matches very interesting.

[curb]

19 minutes ago, Gee SCREAMER !! said:

Thats nice off him.  I would like to know where the hell he's getting it from though

Why should any of us be told that?

[Gee SCREAMER !!]

1 minute ago, curb said:

Why should any of us be told that?

I think without getting into the nitty gritty of his incoming and outgoings, seeing a gross profit within the public domain that would equate to the management of accrued debt and the covering of some nice loan fees and free transfer wages for at least 15 players going forward would help everyone relax about us not being in the same scenario in 2 years. 

I'll get the answer if we get more points deducted to be honest.