why not take powers offer?

[Arriba]

fuck knows sie pie?
but i'd like to.
power publicly said he'd pay more than their asking price so why didn't they snap his hand off?

[Simon Pieman]

It appears that the sticking point is in the Wills family's insistence on having their loans repaid to them.  The owners of a business would normally be expected to take any losses on the chin, but the Wills appears to want any new owner to pay back off their loans as part of the sale...in effect, asking the new owners to fund the club's losses over the Wills family's period of ownership.

The best guess we have as to why the Wills family are insisting on this repayment is that they are rumoured to have mortgaged some or all of their land to raise the cash in the first place.

If the loans are not repaid to them, they lose the land...and James Wills sees his inheritance go up in smoke.  There is a certain irony here, given that the Wills family made its money from tobacco in the first place.

[All of the above is based on hearsay, by the way.]

Well you're right or close to the mark imo. If the mortgage is say for £3m and they're offered £2m, they still can't pay that mortgage. bye, bye any money. They need the full lot imo.

[Sippo]

Putting money into any football club, let alone stfc, is risky business. Accept whats on the table. Something is better than nothing?

[Run_the_bath]

if they dont hurry up there gonna end up with jack shit.

what i want to know is what will actually happen if we get wound up? ie, instant dismall from the league? players sold of to repay important people (tax man)
or will it be someone where along hte lines of what happened to leeds? 15 points and a rescue package where say only 10 percent of debts are payed to clear them?

[Hmonkey]

no.but there are answers to this that should be now made public imo.especially if there is a chance the club to go out of existance

Is Power still even in the equation? Has he got the funds to cover the kind of figures being bandied about?

No would be the answer going by this comment from a recent interview on the adver website:

"We have not got £6million like the others have but we are still here and want to keep the club running".

[STFC Bart]

Kinky you are correct, they now too much thats why the greek wont deal with them

[Lumps]

if they dont hurry up there gonna end up with jack shit.

what i want to know is what will actually happen if we get wound up? ie, instant dismall from the league? players sold of to repay important people (tax man)
or will it be someone where along hte lines of what happened to leeds? 15 points and a rescue package where say only 10 percent of debts are payed to clear them?

That's the odd thing. Wind the club up and you have to sell the assets, as we don't own the ground or any other property the only assets we own are the players. However, if the club is wound up then the players contracts are cancelled and they become free agents, so they're not really assets at all!

[Fred Elliot]

if they dont hurry up there gonna end up with jack shit.

what i want to know is what will actually happen if we get wound up? ie, instant dismall from the league? players sold of to repay important people (tax man)
or will it be someone where along hte lines of what happened to leeds? 15 points and a rescue package where say only 10 percent of debts are payed to clear them?

That's the odd thing. Wind the club up and you have to sell the assets, as we don't own the ground or any other property the only assets we own are the players. However, if the club is wound up then the players contracts are cancelled and they become free agents, so they're not really assets at all!

As I stated in another thread, the difference between tangible and intangible assets is huge.

The players fall into the intangible category, ergo not a true asset of the club

[TalkTalk]

what i want to know is what will actually happen if we get wound up?

Then Swindon Town Football Club will no longer trade and will eventually be dissolved. What assets the company have (ha ha) will be sold. It is literally the end of it.

Oh and as soon as a WUP hits the court the banks will freeze all bank accounts.

[Iffy's Onion Bhaji]

what i want to know is what will actually happen if we get wound up?

Then Swindon Town Football Club will no longer trade and will eventually be dissolved. What assets the company have (ha ha) will be sold. It is literally the end of it.

Oh and as soon as a WUP hits the court the banks will freeze all bank accounts.

Yes that's pretty much it. What would happen if someone like BP were to slap a cheeky £1 offer in though?  

[TalkTalk]

Yes that's pretty much it. What would happen if someone like BP were to slap a cheeky £1 offer in though?  

I'm not sure if judges are actually allowed to roll on the floor laughing, but you get the idea...

No, any last minute offers would have to meet a reasonable level of the outstanding debts. So we would be looking at several million at least.

[Iffy's Onion Bhaji]

Yes that's pretty much it. What would happen if someone like BP were to slap a cheeky £1 offer in though?  

I'm not sure if judges are actually allowed to roll on the floor laughing, but you get the idea...

No, any last minute offers would have to meet a reasonable level of the outstanding debts. So we would be looking at several million at least.

Right but if say the FC offered £6 million then that could happen?

[TalkTalk]

Right but if say the FC offered £6 million then that could happen?

It's uncharted territory but theoretically possible I suppose.

Bloody risky as well if the judge said no.

But as a last chance saloon measure..?

[redbullzeye]

Leaving aside the CVA and the revenue debt for a minute, does anyone have a rough idea what it costs to run the club per fortnight?  So that's players wages and other bills.

[Simon Pieman]

if they dont hurry up there gonna end up with jack shit.

what i want to know is what will actually happen if we get wound up? ie, instant dismall from the league? players sold of to repay important people (tax man)
or will it be someone where along hte lines of what happened to leeds? 15 points and a rescue package where say only 10 percent of debts are payed to clear them?

That's the odd thing. Wind the club up and you have to sell the assets, as we don't own the ground or any other property the only assets we own are the players. However, if the club is wound up then the players contracts are cancelled and they become free agents, so they're not really assets at all!

As I stated in another thread, the difference between tangible and intangible assets is huge.

The players fall into the intangible category, ergo not a true asset of the club

Although there is no physical asset (you can't own the player physically) you can own the legal rights to the player. This is the intangible element because it's not an asset that is physical but it does exist as you control the legal rights. So it is a true asset, just like a patent would be.

The real crux of the matter is that if the club does fold everything is pretty much worthless anyway, save the seats, vans and other stuff like that which I doubt are worth much.

The players contracts will be null and void over non-payment I expect and so no longer an asset in reality. Which is what everyone is getting at anyway. Although if we can continue to trade and flog our biggest assets (like Brez) it could save us. The club are evidently going to try and drag themselves along until the transfer window unless a takeover really does happen.