alram Posted February 23, 2022 Share Posted February 23, 2022 24 minutes ago, CBRammette said: As the PB has on my understanding to put in a non- refundable £5m deposit you expect it to be "easy"? If only you as an insolvency practitioner had been available in September we would have been challenging for play-offs now i tell you something i may have made attempts to make it a more attractive club to buy on the face of it they have done nothing to make us a better club to buy. there is zero clarity about anything and i would bet the admins are making a pretty penny out of this atherstoneram, Wolfie20, Gritstone Tup and 1 other 1 3 Link to comment Share on other sites More sharing options...
atherstoneram Posted February 23, 2022 Share Posted February 23, 2022 5 minutes ago, alram said: because the preferred bidder is where negotiations START it should be one of the first things they do, as with every administration. It is extremely rare for a preferred bidder not to be in place after a couple of months, never mind what is it now 7 months? we can believe that many are competing to buy the club but i think the reality is a bit closer to the administrators are struggling to find someone to buy the club, it is the only logical reason. just ignore all the puff from the media and look at the facts, the admins seem to pluck up a new barrier every time a deadline comes. How can they name a preferred bidder in the way you put it, First off they have to work out the amount of debt and who it is owed to. The administrators job is to sort out financial status of the club and try if possible to get the clubs finances in balance, while they are doing that they are not interested in a preferred bidder, there may be no club to bid on if it can't be saved. FlyBritishMidland 1 Link to comment Share on other sites More sharing options...
Eddie Posted February 23, 2022 Share Posted February 23, 2022 20 minutes ago, scout's dad said: How does he know this? Have the admins got an internal leak Perhaps the administrators have to inform the colander factory - sorry, the EFL - of any progress? jono 1 Link to comment Share on other sites More sharing options...
atherstoneram Posted February 23, 2022 Share Posted February 23, 2022 5 minutes ago, alram said: i tell you something i may have made attempts to make it a more attractive club to buy on the face of it they have done nothing to make us a better club to buy. there is zero clarity about anything and i would bet the admins are making a pretty penny out of this Give them a call and offer your assistance,for free of course,we don't want any more debt. May Contain Nuts and CBRammette 1 1 Link to comment Share on other sites More sharing options...
alram Posted February 23, 2022 Share Posted February 23, 2022 (edited) 4 minutes ago, atherstoneram said: How can they name a preferred bidder in the way you put it, First off they have to work out the amount of debt and who it is owed to. The administrators job is to sort out financial status of the club and try if possible to get the clubs finances in balance, while they are doing that they are not interested in a preferred bidder, there may be no club to bid on if it can't be saved. sorry i just dont buy it i know full well how administrations work. the price of the club has been common knowledge for a long time now. i just think nobody is willing to pay the asking price for the club and the longer it goes on the more expensive the club gets. not naming a prefered bidder at this stage is extremely irregular, the stumbling block was supposed to be boro, now that is sorted whats the excuse this time? it is all we hear from the admins yet there is almost nothing visible that they have done to make the club an attractive buy. what if no bids come in tonight? what then? look at every statement the admins have put out, they all contain no information and along the lines of we are making progress. lets see the progress. i dont buy a word of it. Edited February 23, 2022 by alram LazloW and Patrick Rams 1 1 Link to comment Share on other sites More sharing options...
Eddie Posted February 23, 2022 Share Posted February 23, 2022 7 minutes ago, alram said: i tell you something i may have made attempts to make it a more attractive club to buy on the face of it they have done nothing to make us a better club to buy. there is zero clarity about anything and i would bet the admins are making a pretty penny out of this That's not, and never has been, their brief. It's purely and simply to maximise the benefits to creditors. Crewton, atherstoneram and FlyBritishMidland 3 Link to comment Share on other sites More sharing options...
alram Posted February 23, 2022 Share Posted February 23, 2022 Just now, Eddie said: That's not, and never has been, their brief. It's purely and simply to maximise the benefits to creditors. yes it is. they achieve benefits to creditors by selling the club. if you don't improve the chances of a sale they don't get paid Link to comment Share on other sites More sharing options...
atherstoneram Posted February 23, 2022 Share Posted February 23, 2022 20 minutes ago, R@M said: Actually…it would be common practice to have a minimum acceptable amount due to administrator’s pre negotiations with creditors…they would then inform the potential bidders of current bids in order to drive the price up with a deadline set for last possible bids. Just like EBay….in fact has anyone checked if we are listed? Yes we are but it cost's a grand to access the other bids. Link to comment Share on other sites More sharing options...
RoyMac5 Posted February 23, 2022 Share Posted February 23, 2022 5 minutes ago, alram said: i just think nobody is willing to pay the asking price for the club and the longer it goes on the more expensive the club gets. not naming a prefered bidder at this stage is extremely irregular, the stumbling block was supposed to be boro, now that is sorted whats the excuse this time? Errr you have to give buyers notice of a deadline - can't just ring them up and say what's your bid?! r_wilcockson, RamuelLJackson and Crewton 3 Link to comment Share on other sites More sharing options...
atherstoneram Posted February 23, 2022 Share Posted February 23, 2022 4 minutes ago, alram said: sorry i just dont buy it i know full well how administrations work. the price of the club has been common knowledge for a long time now. i just think nobody is willing to pay the asking price for the club and the longer it goes on the more expensive the club gets. not naming a prefered bidder at this stage is extremely irregular, the stumbling block was supposed to be boro, now that is sorted whats the excuse this time? it is all we hear from the admins yet there is almost nothing visible that they have done to make the club an attractive buy. what if no bids come in tonight? what then? look at every statement the admins have put out, they all contain no information and along the lines of we are making progress. lets see the progress. i dont buy a word of it. The simple answer is, if nobody is willing to pay the asking price then the club goes into liquidation. The ball (excuse the pun) is in the bidders hands,take it or leave it. alram and jimtastic56 1 1 Link to comment Share on other sites More sharing options...
alram Posted February 23, 2022 Share Posted February 23, 2022 1 minute ago, RoyMac5 said: Errr you have to give buyers notice of a deadline - can't just ring them up and say what's your bid?! we will have to see, later tonight we will know if any bids come in but i am not hopeful to be perfectly honest i just want to see some progress and it can only happen with a prefered bidder Link to comment Share on other sites More sharing options...
RoyMac5 Posted February 23, 2022 Share Posted February 23, 2022 Just now, alram said: we will have to see, later tonight we will know if any bids come in but i am not hopeful to be perfectly honest i just want to see some progress and it can only happen with a prefered bidder We all want that, including believe it or not, the Administrators. There's a lot of debt and baggage with the Club, it was never going to be easy to sell. RamuelLJackson, Crewton, FlyBritishMidland and 2 others 2 2 1 Link to comment Share on other sites More sharing options...
atherstoneram Posted February 23, 2022 Share Posted February 23, 2022 3 minutes ago, alram said: we will have to see, later tonight we will know if any bids come in but i am not hopeful to be perfectly honest i just want to see some progress and it can only happen with a prefered bidder But if nobody will offer what the administrators want to satisfy the creditors then you don't get a preferred bidder, it is not a case of sell at any price. RamuelLJackson 1 Link to comment Share on other sites More sharing options...
IslandExile Posted February 23, 2022 Share Posted February 23, 2022 1 hour ago, Animal is a Ram said: Ram-Alf, Animal is a Ram and Mostyn6 3 Link to comment Share on other sites More sharing options...
FlyBritishMidland Posted February 23, 2022 Share Posted February 23, 2022 40 minutes ago, alram said: because the preferred bidder is where negotiations START it should be one of the first things they do, as with every administration. It is extremely rare for a preferred bidder not to be in place after a couple of months, never mind what is it now 7 months? we can believe that many are competing to buy the club but i think the reality is a bit closer to the administrators are struggling to find someone to buy the club, it is the only logical reason. just ignore all the puff from the media and look at the facts, the admins seem to pluck up a new barrier every time a deadline comes. How have you got to seven months? We went into administration on 17th September 2021 or thereabouts. I make that just over five months. And this is a complex case with the size of debt, parties that we owe money to, ground ownership, claims from other clubs. If it hadn’t been for the claims, particularly MFC as WWFC have yet to formally submit one, we would have had a PB in early January. Since the resolution of the MFC issue the administrators have asked for formal bids and allowed seven days to submit. That seemed reasonable. And it’s common practice for bids to go in at the last minute. A couple of months ago I posted this table in the “Admins chased” thread. The average duration for a club being in administration is about 8/9 months. And our case will be more complex than average. RamuelLJackson, jimtastic56, The Scarlet Pimpernel and 4 others 5 2 Link to comment Share on other sites More sharing options...
kevinhectoring Posted February 23, 2022 Share Posted February 23, 2022 2 hours ago, Unlucky Alf said: Most are aware of that on here, It just gives the PB the time to scrutinise the books, See what debt they are taking on and other sundries, Appleby and co i'm sure would have a good idea on what's what as he's an ex joint owner, Binnies on the otherhand are wealthy but stepping into the unknown where English "soccer" is concerned in other words a "god damn minefield" Ashley is a warhorse he'll screw the last bit of blood he can out of this situation, And if he gets it i'll be well pleased, Someone WHO KNOWS what's what in English football I think all the due diligence will have been done. Way back when they were appointed Q told us there was a data room already assembled because of past efforts to sell. So I’d guess the main remaining conditions are executing the creditor compromise as per Q’s proposal (including HMRC) and fit and proper approval by EFL. Be interested to know how the business plan is addressed. Maybe the PB has the discussions with EFL on that and agrees in advance to live with whatever can be agreed ? Ram-Alf 1 Link to comment Share on other sites More sharing options...
Crewton Posted February 23, 2022 Share Posted February 23, 2022 It ultimately comes down to the Adminstrator's judgement as to whether a better return can be achieved for Creditors through selling the club at a lower price, or through liquidation. Preserving the club for its supporters is not, sadly, one of their legal responsibilities. jimtastic56 1 Link to comment Share on other sites More sharing options...
MackworthRamIsGod Posted February 23, 2022 Share Posted February 23, 2022 The admins are buttering us up nicely for another 'unforseen' extension. It's coming. alram 1 Link to comment Share on other sites More sharing options...
alram Posted February 23, 2022 Share Posted February 23, 2022 9 minutes ago, FlyBritishMidland said: How have you got to seven months? We went into administration on 17th September 2021 or thereabouts. I make that just over five months. And this is a complex case with the size of debt, parties that we owe money to, ground ownership, claims from other clubs. If it hadn’t been for the claims, particularly MFC as WWFC have yet to formally submit one, we would have had a PB in early January. Since the resolution of the MFC issue the administrators have asked for formal bids and allowed seven days to submit. That seemed reasonable. And it’s common practice for bids to go in at the last minute. A couple of months ago I posted this table in the “Admins chased” thread. The average duration for a club being in administration is about 8/9 months. And our case will be more complex than average. i understand the complexity and that its going to take longer than other administrations i just dont have much faith because i have seen zero progress, lets see what happens but i am not holding my breath. reading between the lines it just looks like they havent named a preferred bidder because nobody has the money or interest to buy the club lets be honest mel really has well and truly ducked us with the tax bill and stadium RadioactiveWaste 1 Link to comment Share on other sites More sharing options...
Mucker1884 Posted February 23, 2022 Share Posted February 23, 2022 50 minutes ago, IslandExile said: I think the 7 day deadline for bids has been mentioned before. Apologies though, I am not going to trawl back through 840 odd pages to find the reference. Oh stop being a drama queen! You and I both know there's no need to trawl all the way back to the start. That info is clearly somewhere in the last 275 pages! Eddie, jimtastic56, IslandExile and 1 other 4 Link to comment Share on other sites More sharing options...
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