The Administration Thread

[Gee SCREAMER !!]

5 minutes ago, Curtains said:

You are digging it out. 
Do you want this takeover to fail 

No one wants anything to fail, unfortunately this chap isn't the normal ' I have an international company and you can see I make 80 million profit a year' investor which leads to far less questions.  I have a jet worth 22 million and made money from crypto raises concern after the last two years and seeing the Wigan debacle unfold.  No point hounding him over where he has money from if that's all he's willing to say but while Alonsos crib was a bit of a giggle, we're now a club that has too satisfy a committee to move forward,  bring in at least 15-20 players under restriction, settle debt,  accept largely reduced levels of tv money, golden share money and sponsorship and he has to negotiate with Morris who has publicly lambasted over the stadium, as well as fund an entity by x amount of millions on an annual basis. The only reason he's interested is that the council involvement may make it easier and we're still talking about a 15 point deduction on top despite that initial funding relief of having to find 20 plus million to secure the stadium.  I'd also point out that most of the questions he appears to get are genuine questions apart from one fella with a bee in his bonnet, idiots from down the road and Preston fans who have got all riled up.

He's getting this attention based on track record and willingness to publicly answer questions and could at any time thank people for the questions and say nowt.  That's his choice.  

 

[BramcoteRam84]

2 hours ago, MackworthRamIsGod said:

Was Cook responsible for finding the consortium that took over Wigan, who then put them into admin the next day?

Genuine question, it rings a bell.

No

[Curtains]

2 minutes ago, Gee SCREAMER !! said:

No one wants anything to fail, unfortunately this chap isn't the normal ' I have an international company and you can see I make 80 million profit a year' investor which leads to far less questions.  I have a jet worth 22 million and made money from crypto raises concern after the last two years and seeing the Wigan debacle unfold.  No point hounding him over where he has money from if that's all he's willing to say but while Alonsos crib was a bit of a giggle, we're now a club that has too satisfy a committee to move forward,  bring in at least 15-20 players under restriction, settle debt,  accept largely reduced levels of tv money, golden share money and sponsorship and he has to negotiate with Morris who has publicly lambasted over the stadium, as well as fund an entity by x amount of millions on an annual basis. The only reason he's interested is that the council involvement may make it easier and we're still talking about a 15 point deduction on top despite that initial funding relief of having to find 20 plus million to secure the stadium.  I'd also point out that most of the questions he appears to get are genuine questions apart from one fella with a bee in his bonnet, idiots from down the road and Preston fans who have got all riled up.

He's getting this attention based on track record and willingness to publicly answer questions and could at any time thank people for the questions and say nowt.  That's his choice.  

 

I’m at the end of my tether with all this 

I want to give them a chance to takeover.

I don’t see any other options out there.

Quantuma think it’s the best option as they said so in their statement.

Many fans were wrong about Rooney and I remember having to defend him along with RoyMac5 

Posters get it wrong sometimes 

[MackworthRamIsGod]

28 minutes ago, Rammy03 said:

In 2018 the Whelan family sold the club to the Hong Kong-based International Entertainment Corporation (IEC). In a letter to the fans chairman David Sharpe confirmed that he along with Matthew Sharpe and non-executive director Garry Cook would resign from the board upon completion of the ownership transition. 

It was then in 2020 that IEC sold to Hong Kong-based Next Leader Fund. A few weeks later the club went into administration as as Next Leader Fund had refused to invest promised money. 

Gary Cook was there as the club got promoted from league one to the championship in 17/18. After that he resigned so from what I can see he is not responsible for anything that happened afterwards.

Brill, thanks for clarifying.

I can go back to thinking that Cook is a good indicator that Kirchner may well be the real deal.

[Boycie]

@Curtains I think your early idea to take a break was a good idea mate.

Check your blood pressure too?   stressing about others opinions on here won’t do you any good.

Also, any articles “dug up” on here will not scupper any deal. We aren’t that important.

The takeover will go through when the monies in the bank and the EFL’s satisfied.

Chill my friend.

[RoyMac5]

21 minutes ago, MackworthRamIsGod said:

Brill, thanks for clarifying.

I can go back to thinking that Cook is a good indicator that Kirchner may well be the real deal.

Or thinking about Nixon's article from last May where Cook was touted as the man to find the money to buy Mel out, plus he's said to be the man who was "instrumental in bringing in Sheikh Mansour’s money" to Man City. Maybe at Wigan too - according to their fans.

Maybe Cook is the one one finding CK the money?  

[FlyBritishMidland]

3 hours ago, RoyMac5 said:

So why didn't he just say that?

Probably because he’s bound by a confidentiality agreement not disclose the details and has chosen an everyday analogy to explain why.

[Jimbo Ram]

1 hour ago, Curtains said:

You are digging it out. 
Do you want this takeover to fail 

How do you get from someone asking pertinent questions about our prospective new owners………….to wanting the takeover to fail. How? ?

[RoyMac5]

2 minutes ago, FlyBritishMidland said:

Probably because he’s bound by a confidentiality agreement not disclose the details and has chosen an everyday analogy to explain why.

He's only got one analogy then? ?

Yeah whatever. Perhaps he didn't want to say.

[kash_a_ram_a_ding_dong]

41 minutes ago, Curtains said:

I’m at the end of my tether with all this 

I want to give them a chance to takeover.

I don’t see any other options out there.

Quantuma think it’s the best option as they said so in their statement.

Many fans were wrong about Rooney and I remember having to defend him along with RoyMac5 

Posters get it wrong sometimes 

We do have to give him a chance,he's our only lifeline and personally i think he's the right man for the job....we need new ideas and massive changes in our infrastructure to move on and succeed.

Not sure the comparisons with rooney are entirely fair though,i still don't think he's the right guy for us long term even though i admire his loyalty and ability to motivate the players through this crisis....it doesnt mean his doubters are completely wrong but theres no alternative and there hasn't been since Mel threw the club to the wolves..... .so theres no point in speculating about it any more.

 

 

Edited April 11, 2022 by kash_a_ram_a_ding_dong

[jono]

4 hours ago, RamBeauIV said:

Excellent Questions!!!! 

Quite a few people have been suggesting that the Council can turn a profit on renting to us for £1M or £2M per season!  Fantasy Island.

A fair rent might actually be over £5M per season if the Council is not going to be increasing our council tax further.   

The cost of running a football stadium for 12 months (the Boro costs from a few years ago):

• Business Rates = £1.2M
• Utility Bills (Gas, Water, Electricity) = £760K
• Fire, Theft, Liability Insurance = £380K
• Police Costs = £300K
• Other Security, Surveillance, CCTV = £300K
• Medical Presence (Paramedics etc.) = £400K
• VAT = £1.4M
• Ticket Office, Hospitality & Kiosks = £2.5M plus £300K N.I.
• Stewards & PT Staff = £400K
• Ground Maintenance = £400K
• Stadium Cleaning = £345K
• Cleaning Equipment & Sundries = £250K

Who's going to pay these costs? Mel, the council?  The income from tickets, matchdays and sponsorship will soon get swallowed up.  We need the new owner to buy PPS as well as the club.

Your talking about the costs to run a football club. The Council would buy a building and renting it out. A different matter entirely. That’s where the smaller figure comes from. Of course that presupposes a certain value for the stadium but all those other costs have nothing to do with it. Those costs would be the tenants obviously. 
 

The key issue with the stadium is what Mel will accept .. does he just want to get out of MSD’s pocket so it’s 20 million and easily done or does he want significantly more which could be problematic. I would reckon The council can comfortably find or fund - at a profit for council tax payers - the lower range of figures. If Mel isn’t budging from the valuation of  80 million then it’s a much more serious problem.

[CBRammette]

1 hour ago, RamBeauIV said:

I'm not saying that the club would have to pick up the tab for everything, but it's a lot of extra expense for the council taxpayers otherwise.  And opens up a can (or pitch) of worms, e.g. Pitch repairs after egg-chasing / boxing / concerts - who pays or who decides what's an acceptable state of a football pitch?  There's a lot of hidden costs with running a football club which we all take for granted.  Council ownership of the stadium might be a short-term (cheap) fix, but PPS should be an asset of the club which we take pride in. I'm sure we have 100% faith in the council!

You misunderstood. The club would cover the costs for those things as they do now. Then they can maximise income from it

[Mostyn6]

Council owned ground can he a dangerous thing if not properly agreed. This is what destroyed Coventry. The council wanted a cut of everything from matchday revenue and that left the owners in trouble with income. SISU get bad press, but it was the council convoluting things. 

[RadioactiveWaste]

6 minutes ago, Mostyn6 said:

Council owned ground can he a dangerous thing if not properly agreed. This is what destroyed Coventry. The council wanted a cut of everything from matchday revenue and that left the owners in trouble with income. SISU get bad press, but it was the council convoluting things. 

There was a lot wrong with the Coventry stadium. My main understanding was effectively the financial viability of the project depended a lot on consistent big crowds and other income.

The council, SISU, there's plenty of blame to go round with Coventry City.

Pride Park is probably a slightly different prospect, but you're right, leasing the stadium from the council isn't magically immune from future problems.

[Ghost of Clough]

1 hour ago, RamBeauIV said:

I'm not saying that the club would have to pick up the tab for everything, but it's a lot of extra expense for the council taxpayers otherwise.  And opens up a can (or pitch) of worms, e.g. Pitch repairs after egg-chasing / boxing / concerts - who pays or who decides what's an acceptable state of a football pitch?  There's a lot of hidden costs with running a football club which we all take for granted.  Council ownership of the stadium might be a short-term (cheap) fix, but PPS should be an asset of the club which we take pride in. I'm sure we have 100% faith in the council!

How many people have to tell you before you read what's said?

It will be the club who directly pay all of the costs you listed. These costs will be the same whether the club own the stadium, rent from the council, rent from Mel, or rent from anyone else.

[jono]

29 minutes ago, Mostyn6 said:

Council owned ground can he a dangerous thing if not properly agreed. This is what destroyed Coventry. The council wanted a cut of everything from matchday revenue and that left the owners in trouble with income. SISU get bad press, but it was the council convoluting things. 

Yes, if the agreement is fair and sustainable it can work well. If people are greedy or stupid, It won’t. 

[StarterForTen]

1 hour ago, RoyMac5 said:

Or thinking about Nixon's article from last May where Cook was touted as the man to find the money to buy Mel out, plus he's said to be the man who was "instrumental in bringing in Sheikh Mansour’s money" to Man City. Maybe at Wigan too - according to their fans.

Maybe Cook is the one one finding CK the money?  

Or maybe Cook is the one who found the money in CK?

[Boycie]

Didn’t SISU demand the council sell them the ground at a price that they set. Then threatened to leave if the council didn’t do as they wanted?

That worked out well for them, not.

of course I could be totally wrong, there’s always a first.

[rsmini]

3 hours ago, PistoldPete said:

He has already spent a lot of time answering some stupid questions from Andy Derbyshire.. more than I would have bothered with. 
 

he doesn’t want his social media cluttered up with disaffected Preston North End fans responding to misinformation they have read in the daily Mail. 

Who is this Andy Derbyshire chap on twitter? He is constantly digging up stuff from unknown sources. He certainly stirred up CK over the weekend 

[AndyinLiverpool]

2 minutes ago, rsmini said:

Who is this Andy Derbyshire chap on twitter? He is constantly digging up stuff from unknown sources. He certainly stirred up CK over the weekend 

It's  not me