The Administration Thread

[cosmic]

I know this doesn't mean much yet, but after the week we've had I'm going to enjoy this moment of optimism. 

[MaltRam]

36 minutes ago, DarkFruitsRam7 said:

I haven’t really seen any pics or videos of her since she was ill. To see her looking so well at the end is brilliant. 

I'm in absolute shreds. This club cannot, must not, die.

[LauraH]

1 minute ago, Malty said:

I thought there had been multiple bids? Kirchener, Ashley, Appleby, ANOther (maybe these guys??).

I suspect this may accelerate eliminating the Middlesbrough /Wycombe issue from the negotiations. So great news.

But it still leaves the rest of the creditors. We still don’t know where quantuma really are with them.

From what i've read they are interested parties but no formal bids from them as yet. Maybe Kirchner did, not sure.

 

[RadioactiveWaste]

1 minute ago, Malty said:

I thought there had been multiple bids? Kirchener, Ashley, Appleby, ANOther (maybe these guys??).

I suspect this may accelerate eliminating the Middlesbrough /Wycombe issue from the negotiations. So great news.

But it still leaves the rest of the creditors. We still don’t know where quantuma really are with them.

My guess is a lot of "understanding" and "on the basis that X means y subject to c" sort of agreements that are not solid and won't solidify until things are formalised - hence the deranged demands form Gibson and Couhig to know what they are / imply they're not agreed at all.

[May Contain Nuts]

3 minutes ago, JuanFloEvraTheCocu'sNesta said:

Actually, I already know what him and the EFL will do. They will put up so much additional new red tape and nonsense as part of the fit and proper test that the deal will collapse. That's what they'll do.

They'll probably demand proof of cash in a bank account right now to cover the eventuality of Boro & Wycombe winning their claims, rather than just proof of the money to take us over. They'll say they're just ensuring that we don't end up in administration again in 12 months time.

Edited January 21, 2022 by Coconut's Beard

[CBRammette]

Ok hopes up too many times. I am ignoring this totally. Not happening

[PistoldPete]

Are these the guys in Charlotte USA? 

[Abu Derby]

It’s happenin guys & girls!

[Animal is a Ram]

3 minutes ago, Malty said:

I thought there had been multiple bids? Kirchener, Ashley, Appleby, ANOther (maybe these guys??).

I suspect this may accelerate eliminating the Middlesbrough /Wycombe issue from the negotiations. So great news.

But it still leaves the rest of the creditors. We still don’t know where quantuma really are with them.

The wording would suggest that there's a difference between expressing interest, and actually going in with a bid.

Sort of like watching an item on a popular auction site vs. clicking bid now.

Happy that the offer seems to want to ignore the club claims and be willling to deal with that further down the line. They must be confident in their assessment of the outcome to take the risk.

[RadioactiveWaste]

Just now, PistoldPete said:

Are these the guys in Charlotte USA? 

Home of NASCAR isn't it?

 

[AndyinLiverpool]

1 minute ago, Abu Derby said:

It’s happenin guys & girls!

Steady on

[ram59]

1 minute ago, RadioactiveWaste said:

Let's not get carried away. "Full asking price" means matches what's agreed with creditors at present, i.e. matches current best bid in terms of creditors.

Leveraged buyout - you don't need to be worth £60m to borrow £60m

Taking on the WW/Boro liabilities is significant though - either they've had word on the price to get them to bog off and decided it's acceptable, or, are very very confident in their legal advice.

The thing is with the potential WW/Boro liabilities, is that if the new owners were to say 'see you in court', they should be in a 'no lose' situation. Obviously win the case and get your costs paid and also have a case for frivalous prosecution, but should we lose, we would have a cast iron case to bring against QPR, because a dangerous president would have been set, dangerous for football that is.

[Sparkle]

30 minutes ago, David said:

Whilst I would prefer the EFL to push Boro and Wycombe out the way, this has to be the next best solution, someone willing to accept the claims and take them on head to head. 

Just hope that the offer is one that covers everything to avoid the further -15 point penalty. 

Absolutely agree 

[RoyMac5]

Just now, Animal is a Ram said:

The wording would suggest that there's a difference between expressing interest, and actually going in with a bid.

Sort of like watching an item on a popular auction site vs. clicking bid now.

Happy that the offer seems to want to ignore the club claims and be willling to deal with that further down the line. They must be confident in their assessment of the outcome to take the risk.

Hopefully it might get some of the others to make their minds up, I'm sure Q would like a bidding war! ?

[Bald Eagle's Barmy Army]

Just got this from their Twitter account as they take-off to the UK to sign the deal just before we smash Forest. 

[Day]

9 minutes ago, duncanjwitham said:

My concern with just shutting it down would be that there seems to be (to me anyway) no way under EFL rules to actually do that. If we exit admin and shut those claims down as part of it, what's to stop them just filing new claims? We know full well that there seems to be no vetting process at all over claims, you can file what you like. So we're gambling on a LAP saying that this claim has already been decided (when it kind of hasn't) to shut it down, and I wouldn't stake £50m on that happening.

Let's see get it settled finally, if we can IMO.

The EFL can't just dismiss the claims, but they can consider them not to be football creditors, which sends them down to the bottom of the pile next to myself and once the sale goes through it's settled. 

Anyhow, leave all that for the other topic than get in the way of everyones Friday party in here, the administrators would be foolish not to take this offer on the table now, pack their bags before they change their mind on the bid than go down that path. They would be just as stubborn as Gibson which you would assume is highly unlikely.

Never expected anyone just to take them on head to head, unfortunately though it doesn't give us the clear slate we all wanted, we would be in for months of headlines as it goes back and forth.....but we will have a club and thats the main thing right now. 

[Gritstone Tup]

31 minutes ago, Shuff264 said:

Yep buddy this is precisely what happens every half an hour. Who is this guy on Twitter, I saw it 45mins ago and totally ignored it!

[Animal is a Ram]

 I'd be interested to know what their plan is with the stadium in the longer term, if this is true then I'd assume they would be content with paying the rent.

Edited January 21, 2022 by Animal is a Ram

[JuanFloEvraTheCocu'sNesta]

2 minutes ago, David said:

The EFL can't just dismiss the claims, but they can consider them not to be football creditors, which sends them down to the bottom of the pile next to myself and once the sale goes through it's settled. 

Anyhow, leave all that for the other topic than get in the way of everyones Friday party in here, the administrators would be foolish not to take this offer on the table now, pack their bags before they change their mind on the bid than go down that path, they would be just as stubborn as Gibson which you would assume is highly unlikely.

Never expected anyone just to take them on head to head, unfortunately though it doesn't give us the clear slate we all wanted, we would be in for months of headlines as it goes back and forth.....but we will have a club and thats the main thing right now. 

Fine by me. It'll be all the sweeter when we take their claims on and they get laughed out of the room.

[duncanjwitham]

So that's £28m to cover HMRC/other creditors, and then they presumably pay Morris £20m for the stadium which clears the MSD debt?  *If* that's the case, it sounds pretty good to me.