The Doctor":3ibg5rg2 said:
Lundan Cabbie":3ibg5rg2 said:
Season ticket money is safely in a solicitors account. Each home game a twenty-third is released to the club. It is not ringfenced and the club can spend it as they wish. The remaining money in the solicitors account is not an asset of the club and upon liquidation the proportion due back to fans will be available for refunds. Those who used credit to buy will either have their money credited to their zebra account or receive the refund yourself but then still be liable to the agreed payment plan. Credit customers will most likely be liable to cancellation charges.
Stop using the term "ringfenced" though. This means something completely different in finance.
No - I will NOT stop using the term "ring-fenced" because those words are the exact words that were used by the club on the official website here:
http://www.pafc.co.uk/page/TicketNews/0,,10364~2388724,00.html (as previously noted, 6th from last paragraph). The club told us that the money was "ring-fenced".
Tapping that out on my mobile probably didn't get across what I was trying to say. There is ringfencing but not by the club.
Argyle have not ringfenced anything at all. They get some of the season ticket money in dribs and drabs, home game by home game. Once they receive these sums they can pay wages, salaries, debts, bills or whatever with it.
Whoever is holding the season ticket money is doing the ringfencing and thereby protecting the fans' cash against the threat of liquidation. The held fund will NOT be an asset for the liquidator to use when winding up the company.
But anyway, it isn't gonna come to that. I hereby invite you all to Selhurst Park in January for Crystal Palace versus Plymouth Argyle in the FA Cup!