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Posted: 17:30 05 Feb 2011
by Greenlite
X Isle wrote:
argyleiggy wrote: Looking at the s not scoring another goal this season then relegation seems almost inevitable, lets go into admin. now and take the 10 point hit.




It's reached the time to stop giving them money and starve them out. Take the hit, get rid of the sh1t :twisted:.


Just about sums up how I feel. I don't care as long as none of the current board are ever associated with the club again.

Posted: 17:35 05 Feb 2011
by Chris Dennis
PL2 3DQ wrote:
Ottawa Green wrote: Does this mean the embargo will be lifted?


I doubt it, the Football League imposed the embargo because of unpaid football debts, like not paying the players.


And the away teams share of cup gates.

Posted: 17:39 05 Feb 2011
by blenks
greengenes wrote: Some of this is bordering on criminal isn't it ?


Sailing VERY close to the wind of not actually criminal yet.

Posted: 17:42 05 Feb 2011
by Alan-Frost
Regarding what Blenks posted about trading whilst insolvent etc. I was talking about this with my boss at work with particular reference to Chelsea in that they posted losses of £68million and then spend £50 million on Torres.

This begs the question...Who paid for Torres?.

We can guess the answer so does that mean Torres is owned by an individual and not Chelsea FC...similar to the the Tevez saga a couple of years ago.

I may be totaly wrong...dont think so though.

Posted: 17:50 05 Feb 2011
by blenks
Alan-Frost wrote: Regarding what Blenks posted about trading whilst insolvent etc. I was talking about this with my boss at work with particular reference to Chelsea in that they posted losses of £68million and then spend £50 million on Torres.

This begs the question...Who paid for Torres?.

We can guess the answer so does that mean Torres is owned by an individual and not Chelsea FC...similar to the the Tevez saga a couple of years ago.

I may be totaly wrong...dont think so though.


Abramovich is the owner of Chelsea FC and is its de facto benefactor, his loan account with the club is massive. As long as he continues to pay the bills then there is no question of Chelsea ever trading insolvently. One day that could all change of course if/when he falls out of love with the club.

The club, not Abramovich, holds Torres's and all their other players' registrations.

Posted: 17:57 05 Feb 2011
by blenks
greengenes wrote: When we ordered the new pitch would the Directors have known they couldn't pay for it ?


They would argue that at the time of the purchase they 'had a plan going forward' which included monies being loaned to the club by some of the directors. (relying on a possible windfall from a successful WC bid is hardly a reliable and bona fide plan)

However, your point is very valid and better lawyers than me who are acting for big creditors of the club should be leaving no stone unturned in investigating the actions of the directors in this regard.

Posted: 18:00 05 Feb 2011
by Alan-Frost
Cheers Blenks......interesting though.

Posted: 18:08 05 Feb 2011
by Budoc
Greenlite wrote:
X Isle wrote:
argyleiggy wrote: Looking at the s not scoring another goal this season then relegation seems almost inevitable, lets go into admin. now and take the 10 point hit.




It's reached the time to stop giving them money and starve them out. Take the hit, get rid of the sh1t :twisted:.


Just about sums up how I feel. I don't care as long as none of the current board are ever associated with the club again.


Me too. I've been POTD the last couple of seasons due to being out of the country for large periods and also to register my dissatisfaction with those in charge, and many of the decisions that they have made. I could possibly be in a position to purchase a season ticket next season if my financial circumstances improve, but I definitely will NOT do this if any of the 7 are still here. If the future of the club wasn't at stake here, then I'd almost certainly not attend any home matches.

Posted: 18:42 05 Feb 2011
by p1lgr1m
is this just delaying the inevitable though??

Posted: 18:48 05 Feb 2011
by blenks
p1lgr1m wrote: is this just delaying the inevitable though??


Without further, substantial and ongoing new funds from the boardroom or new investors then administration is an absolute certainty - and very soon (days not weeks).

How the club comes out of administration is then the next game-play.

Posted: 19:01 05 Feb 2011
by swmbogreen
blenks wrote:
p1lgr1m wrote: is this just delaying the inevitable though??


Without further, substantial and ongoing new funds from the boardroom or new investors then administration is an absolute certainty - and very soon (days not weeks).

How the club comes out of administration is then the next game-play.


The bigger question is - can the club afford administration financially? According to Ridsdale it cannot - then we face the inevitability of the L word unless someone comes in instantly.

Posted: 19:04 05 Feb 2011
by Chris Dennis
blenks wrote:
p1lgr1m wrote: is this just delaying the inevitable though??


Without further, substantial and ongoing new funds from the boardroom or new investors then administration is an absolute certainty - and very soon (days not weeks).

How the club comes out of administration is then the next game-play.


In those circumstances administration is not possible as there is no cash and we would still be losing money every week.

The administrator would want to see what cash the club can raise from selling assets and trading and whether those would be enough to keep the club going. In our case it wouldn't be enough and no administrator would take it on.

Posted: 19:12 05 Feb 2011
by blenks
swmbogreen wrote:
blenks wrote:
p1lgr1m wrote: is this just delaying the inevitable though??


Without further, substantial and ongoing new funds from the boardroom or new investors then administration is an absolute certainty - and very soon (days not weeks).

How the club comes out of administration is then the next game-play.


The bigger question is - can the club afford administration financially? According to Ridsdale it cannot - then we face the inevitability of the L word unless someone comes in instantly.


Once the club is in administration the insolvency practitioner will be the first prefered creditor and will draw their fees either from any cash balance in the bank account and/or from the sale of the club as a going concern -assuming of course there is a buyer and once creditors have accepted their 5p/10p in the £.

In the unlikely event that there is no buyer then the club (associated companies) will be liquidated as a last resort and the administrator will be first in line to take fees from the sale of all assets.