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The Administration Thread


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1 hour ago, LERam said:

Can someone explain why Q have even hosted those two in hospitality.

I've backed them all the way to do a job, but I don't see how them hosting celebs (or even attending themselves) helps them do their job??? Unless said celebs are involved and adding some value in any way?

Genuine question, why?

Probably so they can get autographs for their grand children.

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3 hours ago, angieram said:

Of course, their pocket is funded through our collective pockets so it really doesn't matter if they do. I suspect though that each club is given so many schmoozing places at away venues and vice versa. Is Jack O'Connell more deserving of that experience than Lisa or Rachel or B4, who spend every penny of their spare money following their club?

And why if he has got time isn't Andrew Hoskin standing in the cramped terrace with the rest of us finding out what supporting a club is really about?

Steve, you want to hear what my gang of mainly female home and awayers think of this whole process.

Wherever we look  there are affluent men with all the power and influence playing out their roles in our saga (owners, administrators, EFL) with an arrogant complacency about their absolute rights and abilities to be the ones to do so. No matter what happens to clubs and communities, they roll on through to their next appointments. 

We are collectively very sceptical of all of them  and whatever happens to us, we need to change the way that football 'business' is conducted. It stinks of corrupt power.

No matter what we hope will happen fans don't stand a chance of getting football "business" changed. It is a business not a sport anymore or more like a sport in name only. There will be a lot of talk and proposals to do this and that making it look as if an effort is being made but while fans keep forking out for season tickets,match day tickets,club merch etc nothing will happen.People keep moaning about how fans are being treated but they keep turning up week after week.

Yes, you are going to reply with we support the team,that doesn't matter to owners/directors,while fans are doing that they will seem no need to change anything.

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35 minutes ago, Macintosh said:

On the radio today, a caller phoned in with a proposal to end the Russia–Ukrainian war. Noting that Putin is a huge Beatles fan he suggested McCartney and Ringo do a free concert at the Kremlin if they agree to pull out. Maybe something similar is being planned to soften the deal with Ashley, meet Angelina and One Direction get back together for a one-off Pride Park concert.

Strangely, I thought similar but rather than this rather abstract suggestion an appeal by them to the Russian population.  An odd one that seems out there but the love of the Beatles in Russia, particularly the older ones with influence, is absolutely obsessive. 

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7 minutes ago, Warwick Ram said:

In reference to the news about Mike Ashley we have been here before. It was just over three weeks ago that he was ‘walking away’ from any deal.

I have so far not seen anything else to back this news up that a deal has collapsed.

Nope me neither.

Lets asume it did collapse on Friday, Ukraine/Russia maybe, Funding Studio circa £25million, MA having 2nd thoughts at the last minute, Today we've read that the EFL have now seen evidence of PB situation and a funding plan through to the end of the season from Simon Stones twitter at 18.13 today.

The PB situation can be read in so many ways.

No wonder some fans get frustrated

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1 hour ago, PistoldPete said:

I am sure they didn't use the word "collapsed". Only that they were seeking confirmation on some details.   

One problem with that - it’s not a headline that gets millions of clicks.  It like the DET headline tonight “Mike Ashley takeover plans collapsed as fresh claims made”.  It’s obviously the Percy article rehashed but the headline is scaremongering.  In some way I can understand the national press but this local ‘journalists’ - I use the term loosely!!

This causes anxiety for the supporters but imagine how the people who work for the club feel.  We know we have our jobs to go in the morning and can keep a roof over our heads.  I can only imagine what it’s like reading headlines like this that affect the future of your employer and whether you have a job or not.

Rant over!!

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I remember when we first went into administration that lots of Wigan fans felt sorry for us and that our naive optimism would be severely tested. They pointed out that administration is a series of disappointments and false dawns as the professional optimism of the administrators is constantly shown up as complete rubbish by events.

I probably didn't quite appreciate it at the time, but it's so true. I think the point that many of us have missed is that the administrators are basically second hand car salesmen trying to shift that 2017 Vectra with 320k miles on the clock and dodgy weld lines across the floor. It's their job exaggerate the positives and gloss over the negatives.

Until the day we exit administration, things will be worse than Quantuma are saying.

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18 minutes ago, FlyBritishMidland said:

One problem with that - it’s not a headline that gets millions of clicks.  It like the DET headline tonight “Mike Ashley takeover plans collapsed as fresh claims made”.  It’s obviously the Percy article rehashed but the headline is scaremongering.  In some way I can understand the national press but this local ‘journalists’ - I use the term loosely!!

This causes anxiety for the supporters but imagine how the people who work for the club feel.  We know we have our jobs to go in the morning and can keep a roof over our heads.  I can only imagine what it’s like reading headlines like this that affect the future of your employer and whether you have a job or not.

Rant over!!

And none of these scaremongering headlines would have happened if the EFL hadn't leaked a story to Percy. And they wonder why Quantuma do not want to talk to them? 

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15 minutes ago, CornwallRam said:

I remember when we first went into administration that lots of Wigan fans felt sorry for us and that our naive optimism would be severely tested. They pointed out that administration is a series of disappointments and false dawns as the professional optimism of the administrators is constantly shown up as complete rubbish by events.

I probably didn't quite appreciate it at the time, but it's so true. I think the point that many of us have missed is that the administrators are basically second hand car salesmen trying to shift that 2017 Vectra with 320k miles on the clock and dodgy weld lines across the floor. It's their job exaggerate the positives and gloss over the negatives.

Until the day we exit administration, things will be worse than Quantuma are saying.

I know what you are saying here, I mean the bit in bold, but the legal reality is they will be doing neither of those two things. They have to accurately present the position of the Club, warts and all. To be anything but totally honest and transparent would leave them potentially open to being sued by the buyer. 

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1 hour ago, Tyler Durden said:

Morris should do the decent thing and follow Abramovichs lead and not expect a penny back from the club

But that’s what he’s done - he doesn’t expect a penny back. In fact, after drawing the line, he’s put more in to pay off Gibson. His current battle is to avoid putting even more in. But the signs are he’s going to lose that battle 

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3 minutes ago, i-Ram said:

I know what you are saying here, I mean the bit in bold, but the legal reality is they will be doing neither of those two things. They have to accurately present the position of the Club, warts and all. To be anything but totally honest and transparent would leave them potentially open to being sued by the buyer. 

As a general rule insolvency practitioners don’t assume any liabilities under sales contracts. Their contracts typically contain a provision that says the purchaser has done their own DD and that they are not relying on any warranties etc from the IP. We don’t know whether MM has agreed to give any warranties - that could happen. I doubt we’ll ever know 

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6 minutes ago, kevinhectoring said:

But that’s what he’s done - he doesn’t expect a penny back. In fact, after drawing the line, he’s put more in to pay off Gibson. His current battle is to avoid putting even more in. But the signs are he’s going to lose that battle 

So in your opinion, he's not looking for anything for the stadium?

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2 minutes ago, kevinhectoring said:

Only funds that go directly to MSD. 

Are you sure about that? not that i am questioning your post. MM has said that he will sell the ground for £20M is that additional to the loans made by MSD against the ground. I haven't seen anything confirming things one way or the other unless  i have missed something.

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1 hour ago, Tyler Durden said:

Morris should do the decent thing and follow Abramovichs lead and not expect a penny back from the club

So far as we know MM is being as generous as Abramovich.

Abramovich is offering the 'net proceeds' of the sale to help war victims (including or perhaps mainly Russian victims). Important word is 'net' in this case as it suggests strongly that any donations will only happen after all costs of sale are accounted for. That won’t be cheap, probably more than £20m.

He's also suggesting that he won’t ask for loans to be repaid. I don’t think Mel is asking for any of the money he’s spent back either.

perhaps Mel did the decent thing first. Perhaps that’s where Abramovich got the idea from.

 

Edited by ilkleyram
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