"We have to be realistic about the deals being put together to find the funds to buy football clubs."

This phrase from the press statement is full of foreboding. Is the contingency robust?

I think before everyone gets too happy there seems alot of sticking points to be sorted.

1. Who will pay the adminstration, staff, players costs?

2. Can JB sort out a deal with the creditors?

3. Does JB have the funds that is required to take on this mess from here? Lets not forget that every day that has gone past cos of the delays it has meant the interest has surely risen on whatever that is owed. If Argyle owed 18+ million that is alot of interest over the past few weeks incurred

Seems to me whilst it would be great to get rid of the Ridder and Heaney that because of the time wasted in allowing this deal to go ahead that it puts the future of the club in servere doubt.

I was under the impression The Riddler would be called upon to become CEO if the Brent/Contigency plan was to come to fruition?

Maybe one of the contingency committee members could confirm if this is true please.

James Brent has stated it would be foolish not to take on Peter Ridsdale after all the work he has put onto the club during his stint at PAFC.

This could be the best news of the summer.

What a difference a month makes- 8th July

Mr Guilfoyle said that he believes the current buyer is the "only show in town" in terms of realistic purchasers.

He said money from season tickets would be protected during the administration process.

He said staff were being asked to defer 100 per cent of their July wages as the club currently has no money.

this is de ja vu.

this just reminds me of when we were praying the japs would stump up.

its all flooding back now

I think before everyone gets too happy there seems alot of sticking points to be sorted.

1. Who will pay the adminstration, staff, players costs?

2. Can JB sort out a deal with the creditors?

3. Does JB have the funds that is required to take on this mess from here? Lets not forget that every day that has gone past cos of the delays it has meant the interest has surely risen on whatever that is owed. If Argyle owed 18+ million that is alot of interest over the past few weeks incurred

Seems to me whilst it would be great to get rid of the Ridder and Heaney that because of the time wasted in allowing this deal to go ahead that it puts the future of the club in servere doubt.

There are indeed MGM.

The Heaney bid has not failed yet.

1) JB will have to, but he has negotiations to do yet. Make no bones about it, because of the delay, this is now a serious issue.

2) Brendan has to do this, with JB pulling his strings.

3) Yes he has.

If the Heaney bid fails and IF JB cannot make 1&2 happen, PAFC will be liquidated.

Whilst that is a terrifying thought, the threat of no money (liquidation) might make 1&2 slightly more palatable for the people concerned.

I suppose the only thing concerning the creditors is that its better to get some money back than none at all. My only worry is they dont have the same feelings to keep this club alive like we do. So if any new deal means they receive even less than what is currently on the table whos to say they wont say thanks, but no thanks!

I think before everyone gets too happy there seems alot of sticking points to be sorted.

1. Who will pay the adminstration, staff, players costs?

2. Can JB sort out a deal with the creditors?

3. Does JB have the funds that is required to take on this mess from here? Lets not forget that every day that has gone past cos of the delays it has meant the interest has surely risen on whatever that is owed. If Argyle owed 18+ million that is alot of interest over the past few weeks incurred

Seems to me whilst it would be great to get rid of the Ridder and Heaney that because of the time wasted in allowing this deal to go ahead that it puts the future of the club in servere doubt.

I was under the impression The Riddler would be called upon to become CEO if the Brent/Contigency plan was to come to fruition?

Maybe one of the contingency committee members could confirm if this is true please.

James Brent has stated it would be foolish not to take on Peter Ridsdale after all the work he has put onto the club during his stint at PAFC.[/quote]

Surely, if BG now knows he has sort of f*eck up following the 'Ginger' ones plans than JB has him by the short ones!

I think before everyone gets too happy there seems alot of sticking points to be sorted.

1. Who will pay the adminstration, staff, players costs?

2. Can JB sort out a deal with the creditors?

3. Does JB have the funds that is required to take on this mess from here? Lets not forget that every day that has gone past cos of the delays it has meant the interest has surely risen on whatever that is owed. If Argyle owed 18+ million that is alot of interest over the past few weeks incurred

Seems to me whilst it would be great to get rid of the Ridder and Heaney that because of the time wasted in allowing this deal to go ahead that it puts the future of the club in servere doubt.

I was under the impression The Riddler would be called upon to become CEO if the Brent/Contigency plan was to come to fruition?

Maybe one of the contingency committee members could confirm if this is true please.

James Brent has stated it would be foolish not to take on Peter Ridsdale after all the work he has put onto the club during his stint at PAFC.

IJN I hope this is correct, I think Ridsdale is a crucial link who ever takes over, not sure what would happen to Peter Jones if it is Brent.

I suppose the only thing concerning the creditors is that its better to get some money back than none at all. My only worry is they dont have the same feelings to keep this club alive like we do. So if any new deal means they receive even less than what is currently on the table whos to say they wont say thanks, but no thanks!

There are only three (if I remember correctly).

Lombard, Mastpoint and The Trust.

Individual deals have to be made with all of them.

I would imagine whatever is agreed, will be kept confidential.

Whilst that is a terrifying thought, the threat of no money (liquidation) might make 1&2 slightly more palatable for the people concerned.

I suppose the only thing concerning the creditors is that its better to get some money back than none at all. My only worry is they dont have the same feelings to keep this club alive like we do. So if any new deal means they receive even less than what is currently on the table whos to say they wont say thanks, but no thanks!

That's my worry too, MGM.
Ian, is it really the case liquidation will mean no money? There must be some assets on the balance sheet, surely. Quite how such assets would be offset against whats owing and to whom, I'm not sure, but there must be some value still in PAFC which, on liquidation, would pay off some of the debt. (And surely there are far more creditors than those three listed above - the players, staff, and suppliers for example).
I guess the key is that whoever puts money in if a takeover goes through would need to give more to the creditors than liquidation would produce. And presumably some suppliers who are still involved would always want the club to continue as a going concern.

IJN I hope this is correct, I think Ridsdale is a crucial link who ever takes over, not sure what would happen to Peter Jones if it is Brent.

Dunlop, I have seen at first hand how JB and PJ work together, and I'm not sure if they even realise how well they do it.

I have asked PJ to his face whether he has talked to JB about it, and he assures me hasn't, and I believe him.

In my mind, (and I have been a PJ knocker in the past) they'd be silly not to have a formal relationship, but it's nothing to do with me, it's just what I have noticed during he Contingency Committee meetings.

Let's us hope, that there will be little need for these meetings in the near future and normal fans like Postey and I (as examples) can go back to having nothing to do with corporate lounge lizards like JB and PJ.

Clearly a 'put up or shut up' announcement to Heaney. I suspect since it's got to this point that there is almost no chance of Heaney coming up with the money. If he supplies any loose change he has it would represent 'good money after bad' if he can't complete his other property deal soon.

If this had happened 4 weeks ago I would have been cheering. But now, 2 days from the start of the season it means
Brent has to find whatever money is required quickly
Brent / BG have to negotiate with whatever creditors there are quickly
The council will have to agree/vote on whatever the Plan B plans are for the ground.

If either of these things fail or take too long then we could be liquidated! BG won't be able to take on financial responsibility for the staff wages.

Separate point - do we know if BG/The administrators are owed any money, and if so whether they could agree to take only a % to get the deal through?

That's my worry too, MGM.
Ian, is it really the case liquidation will mean no money? There must be some assets on the balance sheet, surely. Quite how such assets would be offset against whats owing and to whom, I'm not sure, but there must be some value still in PAFC which, on liquidation, would pay off some of the debt. (And surely there are far more creditors than those three listed above - the players, staff, and suppliers for example).
I guess the key is that whoever puts money in if a takeover goes through would need to give more to the creditors than liquidation would produce. And presumably some suppliers who are still involved would always want the club to continue as a going concern.

You're a tad confused warney (as I often am).

THe suppliers and the like have accepted the CVA which is a woeful .7p in the £.

The ones that have to be re-negotaited are the Football Creditors, Lombard, The Trust and Mastpoint.