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The Administration Thread


Boycie

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14 minutes ago, Gritstone Ram said:

I’m only saying because I had some money laundering check done on me when as a carefree  youth I took part in a company sharesave scheme and from the start of the scheme to the end the share price had tripled if not more. I then turn up at the bank with a wad of cash and based upon my previous history the bank didn’t believe where I got the money from and had to go through a series of checks which meant contacting the company and making sure the shares were genuine etc. It felt like it went on forever.

I blew the most of it on fast women and drink. The rest I just wasted.

It happens all the time. So no-one would think anything about CK saying the money was held up by AML. Who can really say that the money was sent, rather than just in his account?

I had £11k disappear on me - I was transferring from a Building Soc mortgage account to a different bank account. It left the mortgage account but never turned up at the bank. F... me that was scary, over a weekend too. Took some time to find out was was happening, but eventually it reappeared in the mortage account and the Building Soc told me why!

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3 minutes ago, LERam said:

So what happened.....

Who had lied to us? Because Efl/Q did checks and were convinced the money had been sent, Nixon also say proof

So why pull out?

Were they convinced it was sent or convinced it was in his account do we know. Listening to Dawes this morning he didn't seem too clear on that point.

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2 hours ago, Gritstone Ram said:

My thoughts are that CK deals isn’t completely dead he has pulled out due to the length of time it is taking to clear the money. If the money clears and he is good to go and nothing has been agreed with any other party then he may well be back. I suspect the admins have said the deal mus come off unless you have the funds and we are seeking alternatives. I still think CK will be the best bid.

Ck withdraws his bid...the clue was in...CK withdraws his bid.

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23 minutes ago, PistoldPete said:

Whilst time is important the Efl fixture list should absolutely not be the determining factor. We need to be able to renew player contracts so the deal needs to be closed very quickly. But closing a deal in two weeks just because the Efl are worried about their fixture computer is ridiculous . We need a proper owner who will pay enough for creditors and not an asset stripper . 
 

the Efl deadline can be dealt with by some form of guarantee by local benefactors. Clowes has already got a deal for the stadium soo that can be part of the business plan so that we are financed for the season or until the new owner takes over. 
 

Sorry mate, the fixture list IS the determining factor as we won’t be on it unless we have a credible business plan and funds. Which means a buyer. No two ways about it. And regarding your “asset stripper” comment - you’ve been watching too many movies buddy, we don’t have ANY tangible assets. Maybe a stapler, but that’s about it. We have nothing to stip. 

Edited by Phuket Ram
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2 minutes ago, Phuket Ram said:

Sorry mate, the fixture list IS the determining factor as we won’t be on it unless we have a credible business plan and funds. Which means a buyer. No two ways about it. And regarding your “asset stripper” comment - you’ve been watching too many movies buddy, we don’t have AND tangible assets. Maybe a stapler, but that’s about it. We have nothing to stip. 

didn’t they do two lists last season?

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16 minutes ago, GenBr said:

I know its not part of dcfc or administration. My question is has the sale of the stadium gone through yet or was it reliant on the takeover? If the club is liquidated the stadium becomes useless and i would rather that fall on mel rather than whoever decided to help us out by buying it.

 

Ah sorry, well It’s prime development land, he’d (or whoever owns it) have no problem selling it for £23m or more. Nobody will lose [much] money on the stadium.

except Mel of course.

Edited by Phuket Ram
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1 hour ago, RipleyRich said:

Depends what "finders fee" he can achieve.

 

Sorry,  just my cynical head. I just have the feeling that there are too many vultures hanging around now looking how they can benefit themselves from a dire situation.

Any football club (not just dcfc) will only attract “vultures”.The modern name is “entrepreneur” but vulture is nearer the mark,from the very beginning it’s been “how little can we buy them for”.The days of Jack Walker,Lionel Pickering and Sir Jack Hayward are long gone.

Edited by Turnstile
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19 minutes ago, Tamworthram said:

Given the administrators primary job is to recover as much money as they can for the creditors, I assume they’d be duty bound to accept the second offer (assuming it could be completed within an acceptable period of time) but, presumably with some deadline for completion so that if the second bidders mates reneged on their promise, the administrators could revert back to the first offer. 

 

 

Just to add (too late to edit), if you meant literally just 1p extra in total (and not 1p in the pound), then this wouldn’t make any difference to creditors so the two offers are effectively identical. I’m which case, you’d expect the administrators to accept the first offer from MA I would imagine.

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1 hour ago, jimtastic56 said:

Wages have got to be paid again in 2 weeks. We probably won’t have a Preferred Bidder by then. Is there any compensation coming from Blackpool for Rosenior ? That would help ?

I’d be amazed if Blackpool were paying anything more than a token amount 

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20 minutes ago, RoyMac5 said:

What nonsense. Ask the manager who he wants to buy the Club? ?

Not nonsense Roy, cold hard logic. Rooney and Stretford are too powerful to ignore.

Rooney obviously did some sort of deal with CK (for all we know he or Stretford might have had a piece of the deal) and Rooney is key to assembling next year’s squad.  if Rooney won’t replicate the CK deal for other bidders, and if he won’t support those bidders, then those bidders bid less and creditors are worse off 

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Feel relived he’s out, was very underwhelmed when he was announced preferred bidder, just had a feeling this would happen, now it’s important can Appleby find a new backer in the time we have? Will Ashley just wait and hope he’s the only option left so he can get it as cheap as possible, is Morgan still in? The other 2 interested parties who are they? Ed Dawes said they want to be named Incase after due diligence they don’t fancy it, how long will that take? Honestly feels like the 11th hour but no idea which way its going to go! Reckon it may be pretty quiet this week whilst bidding or talk goes on’ 

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11 minutes ago, Phuket Ram said:

Ah sorry, well It’s prime development land, he’d (or whoever owns it) have no problem selling it for £23m or more. Nobody will lose [much] money on the stadium.

except Mel of course.

I doubt it would be easy to sell unless very cheap. The cost to demolish something the size of pride park would be astronomical and thats only if the council lets it be redeveloped in the first place. 

Mel might be able to hold concerts, etc there, but even then i dont think that will be as easy as he thinks.

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