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The Administration Thread


Boycie

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8 hours ago, atherstoneram said:

I don't think it's the administrators who are stalling,i think the bidders are expecting the administrators selling the club now as a league 1 club and have put in derisory offers to match which doesn't go anywhere near enough to settle the bills, that wouldn't be acceptable to the administrators who have managed to arrange funds to see the season out. If we go down i can see the potential bidders walking away especially Ashley who won't get the television coverage a championship club gets.

We are still odds on to go dow 1/8, we also have a depleted squad.  All you are buying is a handful of players and the golden share.  Bottom of Lg2 phoenix club may well appeal, no -15pts lots of money to then invesr getting us back to the championship.....

 

Edited by RAM1966
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1 hour ago, CornwallRam said:

I think liquidation and restarting as a pheonix must be under discussion. Especially if we really can start in League 2.

Unless we can find a bidder to pay the full amount to get a CVA and avoid a points deduction, I reckon pheonixing looks a better option.

Next season in League 1 with a points deduction, 6 players and a two year business plan imposed by the EFL for £25m. Or League 2, no players, but no business plan or points deduction for £5m.

The figures are obviously guesses, but you can see the basis for a discussion at least. 

seems to come down to when we would be in L2 - next year as Phoenix or year after as a taken over DCFC 

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1 hour ago, CornwallRam said:

I think liquidation and restarting as a pheonix must be under discussion. Especially if we really can start in League 2.

Unless we can find a bidder to pay the full amount to get a CVA and avoid a points deduction, I reckon pheonixing looks a better option.

Next season in League 1 with a points deduction, 6 players and a two year business plan imposed by the EFL for £25m. Or League 2, no players, but no business plan or points deduction for £5m.

The figures are obviously guesses, but you can see the basis for a discussion at least. 

Don’t need a CVA or to pay 25% in one go either to avoid a points deduction.

choices are 

25% in one go

OR

agreement that repays 35% over three years

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8 minutes ago, FlyBritishMidland said:

Isn’t the supporters group meeting tomorrow?  I’m sure I read that somewhere.  Maybe we’ll find out a bit more on Thursday.

Personally I’m happy with the silence.  Just because no ones talking about it doesn’t mean nothing is happening.  We had lots of noise last week and all it did was create mass hysteria.

Just because no ones talking about it doesn’t mean anything is happening

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46 minutes ago, CornwallRam said:

From the answer that Q gave to Rams Trust

The position with HMRC remains unchanged and has been covered in multiple previous meetings. They have requested an update which we will provide shortly. However, as we have previously advised, we have shared our draft proposal with HMRC which covered various scenarios. They were happy with the principles in that draft proposal. As previously advised, HMRC will not give formal approval to any proposal before it is in final form. We will provide that proposal once the preferred bidder is chosen and the exit strategy is confirmed.

Doesn't say what the proposal is though or if any bidders are willing to meet it.

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18 minutes ago, The Scarlet Pimpernel said:

I don't think we are, but really have no idea, BUT, if we were liquidated I certainly hope its before the season end. Just to take points off Boro if nothing else.

Been saying it for ages, if we go down lets duck the table and make sure the efl and all the opposition fans singing about us remember it was Derby County that Ducked them right up.

 

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24 minutes ago, The Scarlet Pimpernel said:

I don't think we are, but really have no idea, BUT, if we were liquidated I certainly hope its before the season end. Just to take points off Boro if nothing else.

They’d probably try to sue us for having all the points expunged a season too early. ?

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1 hour ago, PistoldPete said:

Wigan were liquidated and only paid unsecured creditors including Hmrc 25%. They didn’t suffer any further penalties from EFL apart from the original 12 point penalty for going into admin and even that they contested. 
 

I don’t see that Hmrc preferred creditor status ( which they didn’t have at the time of Wigan) should really affect things . Provided we pay unsecured creditors 25% Efl should not punish us anymore .

Wigan were not liquidated,the club changed ownership and then the original company went into liquidation.At no time ever were Wigan FC liquidated.

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42 minutes ago, Boycie said:

If you think we’ll find out more tomorrow then that’s being deluded.

They'll just say the same words just in a different order, or find some new ones from the Thesaurus in the study.

The've been and bought a new one,the old one was a bit dog eared with pages missing.

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8 minutes ago, atherstoneram said:

Wigan were not liquidated,the club changed ownership and then the original company went into liquidation.At no time ever were Wigan FC liquidated.

Wigan football club Ltd were liquidated. After the “club” ie the Brand, was sold to a Phoenix Company. I suspect the same will happen to Dcfc Ltd .

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3 hours ago, atherstoneram said:

So they could say we are insolvent and issue a winding up order.

Which won’t happen because if that happens the HMRC will get little or nothing. HMRC don’t care (and nor should they) whether we get another points deduction. They want dosh .. nothing else. 
 

My concern as a fan is to avoid the -15 because that will mean league 2 in all likelihood. I could stomach relegation but having accepted that as a sad outcome of the EFL’s poisonous management of its rule book .. The kick while you’re down and “fighting against the odds again” scenario would be sickening., wrong, and unjust. 
 

Sad thing is .. I can see it coming. We will get -15 next season regardless. It’s what they do. Sport ? Fair Play ? Decency ? Proportionate ? The EFL is nasty, vindictive, hypocritical, self serving, pompous, ineffective, weak, self serving and … pretty effing useless all things considered. 
 

Well that’s me off to a good start after my red card and free holiday granted by @David and @GboroRam  I probably deserved it but I was thinking more along the lines of Monaco, St Tropez or Sardinia. I ended up in Skegness ! Don’t do it …ever ! … jeez… Parry and Gibson still selling ice creams though .. I wanted a 99 but they only did -21’s and offered Frizz free perm vouchers for the ladies at a local salon. The chipboard in the Chalet had blown, it was damp and cold. “En suite shower” ? Stand I. The rain outside you’re own front door .. ! Nice !
There wasn’t anyone there either, except some chancer bloke from High Wycombe putting foreign coins in the slot machines while slipping security free pints to security to turn a blind eye. The beer was a bit like that story about the similarity of Ansels  Bitter and making love in a punt .. both ducking close to water.  Anyway I’ll keep my mouth shut in future and try and stay off the politics thread. 
 

 

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1 hour ago, RAM1966 said:

We are still odds on to go dow 1/8, we also have a depleted squad.  All you are buying is a handful of players and the golden share.  Bottom of Lg2 phoenix club may well appeal, no -15pts lots of money to then invesr getting us back to the championship.....

 

We are odds-on to down, yes, but 1/8 understates our chances of staying up! 

The best price is 2/7 which gives us a 22% chance (i.e. double the chance of 1/8).

Of course, even that understates our chances of staying up. Not by much, mind you.

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