Jump to content

Administrators report out


Gee SCREAMER !!

Administrators report  

41 members have voted

You do not have permission to vote in this poll, or see the poll results. Please sign in or register to vote in this poll.

Recommended Posts

This is being discussed in the other (very long) administration thread. According to self-proclaimed "football finance expert" MacGuire, Clowes paid £40 million all in (£18 million for the club and £22 million for the stadium) and Morris wrote off £125 million in debts.

Over £6 million was paid in tax to HMRC (25%) and football creditors were paid in full to the tune of £8.9 million. Administrator fees were paid at £1.65 million. I'm not certain how it works but I presume that all came out of the £18 million Clowes spent on the club?

Link to comment
Share on other sites

  • 1 month later...
On 29/10/2022 at 13:46, Carl Sagan said:

This is being discussed in the other (very long) administration thread. According to self-proclaimed "football finance expert" MacGuire, Clowes paid £40 million all in (£18 million for the club and £22 million for the stadium) and Morris wrote off £125 million in debts.

Over £6 million was paid in tax to HMRC (25%) and football creditors were paid in full to the tune of £8.9 million. Administrator fees were paid at £1.65 million. I'm not certain how it works but I presume that all came out of the £18 million Clowes spent on the club?

Just looked at this for the first time to work out exactly how much DC paid. Sure he paid 22 for the stadium, 18 for the club’s assets. So at least 40. But it’s not clear what else he might have paid eg to cover unsecured creditors. Not is it clear what MM might have tipped into the bottomless pit. So at least 40

Also, there is reference to £555k having been paid to the club ‘in error’ during the review period. Wondered whether that was part of the money paid by Stretford allegedly on behalf of Kirchner

It’s an expensive business, going bust - on a quick look it seems the hordes of lawyers charged about as much as the administrators - between 1 and 2 m in each case 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account.

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...