Is the timing right for Administration ? Keith your factually based observations would be of interest.
The cupboard is supposedly bare and our league posing is precarious.
I am assuming that if we were to be relegated then Administration would be a near certainty.
So would it be better to do so now and what would be the upside?
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Why would actively deciding to enter administration now, in the Championship with most of the season left to play be an advantage to doing it following relegation to League One?
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Can’t see administration being anywhere near VT’s thoughts relegation or not.
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Quote:
Originally Posted by
gabbsthenewt
Why would actively deciding to enter administration now, in the Championship with most of the season left to play be an advantage to doing it following relegation to League One?
I don’t know the answer, hence the question!
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Quote:
Originally Posted by
BLUEAWAY
I don’t know the answer, hence the question!
As Cleve says - it won't be on VC's to do list. Note MD mentions refinancing and the accounts state the possible scenario whereby additional shareholder funds may need to be raised. A sale is certainly one way to achieve a refinancing - preferable to do that before administration when the accountants are running your club and looking to sell everything not nailed down for you.
I would be less shocked by the club being sold to Mike Ashley than I would be it entering administration right now.
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Quote:
Originally Posted by
BLUEAWAY
The cupboard is supposedly bare and our league posing is precarious.
I am assuming that if we were to be relegated then Administration would be a near certainty.
So would it be better to do so now and what would be the upside?
There would be no upside benefit to Administration. Many people (perhaps understandably) believe that it gets rid of all club debts which is simply not the case. It is just a legal mechanism to allow a company to buy some time to put a proposal to its creditors to settle debts.
All football debts , including any unpaid transfer fees and players contracts have to be paid in full . plus secured creditors who have charges over the assets (in our case only Vincent Tan) also retain the proceeds of sale of the assets they have security over or the security and liability transfers over to the new owners. On top of that all unsecured creditors would have to be paid a minimum of 25% of the debts they are owed.
So Administration wouldn`t get rid of most of our liabilities and the automatic points would almost certainly get us relegated.
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Quote:
Originally Posted by
Ninian1962
There would be no upside benefit to Administration. Many people (perhaps understandably) believe that it gets rid of all club debts which is simply not the case. It is just a legal mechanism to allow a company to buy some time to put a proposal to its creditors to settle debts.
All football debts , including any unpaid transfer fees and players contracts have to be paid in full . plus secured creditors who have charges over the assets (in our case only Vincent Tan) also retain the proceeds of sale of the assets they have security over or the security and liability transfers over to the new owners. On top of that all unsecured creditors would have to be paid a minimum of 25% of the debts they are owed.
So Administration wouldn`t get rid of most of our liabilities and the automatic points would almost certainly get us relegated.
Thanks for the detail
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
In Asia it's all about face.Admin would be a huge humiliation for Tan
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Quote:
Originally Posted by
ToTaL ITK
In Asia it's all about face.Admin would be a huge humiliation for Tan
If he just got a decent CEO that doesn’t cost him millions and a good manager Tan would do ok, but he hasn’t so he doesn’t. It’s quite simple
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Quote:
Originally Posted by
ToTaL ITK
In Asia it's all about face.Admin would be a huge humiliation for Tan
:thumbup:
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Quote:
Originally Posted by
goats
If he just got a decent CEO that doesn’t cost him millions and a good manager Tan would do ok, but he hasn’t so he doesn’t. It’s quite simple
i quite agree
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Quote:
Originally Posted by
ToTaL ITK
In Asia it's all about face.Admin would be a huge humiliation for Tan
Still beating this drum. It's a little bit stupid to assume a whole continent of people, from Turkey in the West. to Japan in the East, to Indonesia in the South, to Russia in the north, including Iran, Iraq, UAE, Saudi Arabia, the Philippines, Thailand. 3 relegations inside 10 years is pretty humiliating. Perhaps that's why he doesn't bother showing up to games.
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Quote:
Originally Posted by
gabbsthenewt
As Cleve says - it won't be on VC's to do list. Note MD mentions refinancing and the accounts state the possible scenario whereby additional shareholder funds may need to be raised. A sale is certainly one way to achieve a refinancing - preferable to do that before administration when the accountants are running your club and looking to sell everything not nailed down for you.
I would be less shocked by the club being sold to Mike Ashley than I would be it entering administration right now.
do you think Isaacs would buy into that :hehe::hehe::hehe:
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Quote:
Originally Posted by
Do me a Faerber
Still beating this drum. It's a little bit stupid to assume a whole continent of people, from Turkey in the West. to Japan in the East, to Indonesia in the South, to Russia in the north, including Iran, Iraq, UAE, Saudi Arabia, the Philippines, Thailand. 3 relegations inside 10 years is pretty humiliating. Perhaps that's why he doesn't bother showing up to games.
We have been relegated twice from the Premier League, the most competitive league in Europe, in his reign. Also promoted twice from and finished top half in all but one Championship season. Reached a Wembley Cup Final as well. Not that shabby a record really is it.
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Quote:
Originally Posted by
dml1954
We have been relegated twice from the Premier League, the most competitive league in Europe, in his reign. Also promoted twice from and finished top half in all but one Championship season. Reached a Wembley Cup Final as well. Not that shabby a record really is it.
Indeed not bad for a Championship side , nearly stated up last time as well . Didn't we squeeze into the semi final play-offs as well since relegation, oh what torrid times .
Re: Is the timing right for Administration ? Keith your factually based observations would be of interest.
Quote:
Originally Posted by
dml1954
We have been relegated twice from the Premier League, the most competitive league in Europe, in his reign. Also promoted twice from and finished top half in all but one Championship season. Reached a Wembley Cup Final as well. Not that shabby a record really is it.
After millions and millions have been spent and it leads to the club being broke, 8 straight defeats in the Championship with 19 goals conceded against just 1 scored it's beyond shabby. It's piss poor. It's a sick joke. It's embarrassing. If Tan was the big man he's made out to be, he'd show his face and own this mess.
