Administration

[LittleRed]

I thought the league rules ensure a wage cap in order we don't live beyond our means. The only things it does not include is the transfer fee. Now assuming all our players are paid for out of the holding companies money it should only be wages that we now cover. This should only amount to 65% of our income. It has to do with money owed and political games between the investors. Providing our team does not get asset stripped any new investor will look to make money and this can only happen by improving what we currently have. I for one will look forward to a new owner as this one clearly has had enough. Positive that their are other investors interested. I will save thanking the current owners until I see what state they leave us in.

[pauld]

Looking at Venkys, Watford, the various scumbags at Pompey, and our own brush with BEST, I'm significantly more concerned by the prospect of a rushed sale to new owners with arms being twisted than I am that there's any real threat of administration

[Langers]

So don't read it!  The pre-internet age had a lot to recommend it.

My point was more that it was completely misguided.

Did anyone see that twat Adrian Durham on twitter this morning? What a bellend.

[dave_bambers_right_sock]

Where's that shaun of the dead, im just going to the winchester until this all blows over gif when you need it?  Sonic?

Best I can do

[Abrahammer]

Yea, I've just set him straight.

Utter shit from him

[Ticker45]

Came into this very late as have been out all morning and first impressions were here we go again.

On reading through the thread though, it appears to me that Mr Black has done enough for the club and wants to move on and tbh who can blame him as anyone who puts shedloads of money into a football club needs their head examined unless they are on the Premiership gravy train.

Obviously the media have jumped on the explanations given and makes me wonder where the "leak" came from and are now making two and two five because it is what they are paid to do and imo the "A" word was used totally out of context as the explanation given for it is:

"Administration is a very powerful process for gaining control, when a company is insolvent and facing serious threats from creditors."

I do not see that as happening and would like to think that the people currently in charge are far more astute than some of the previous incarnates and if we need new owners then so be it.

[sonicyouth]

Where's that shaun of the dead, im just going to the winchester until this all blows over gif when you need it?  Sonic?

[url width=640 height=272]http://i.imgur.com/lEnDQ.gif[/url]

[Saxondale]

Thankyou!

[Power to people]

Looking at Venkys, Watford, the various scumbags at Pompey, and our own brush with BEST, I'm significantly more concerned by the prospect of a rushed sale to new owners with arms being twisted than I am that there's any real threat of administration

This is what we should really be worried about, someone coming in that says they have a few quid and we end of the next Blackburn

[Bewster]

As far as I can see it's all come from this one quote.

When asked if he could guarantee the club could avoid administration, Patey responded: "Not a single chairman in the country could do that."

Initially I was worried, but the more I read, the more it looks like sensationalism. No doubt there are issues to resolve etc, but it doesnt seem the headlines warrant the panic.

This. A thousand times this.

[reeves4england]

Adver live: "At no point has it been reported that Swindon Town are going into administration."

[jonny72]

There is more to this (or less, dependent on how you look at it) than meets the eye. It's some form of pissing match dispute between the owners and what the outcome will be or what they want from it remains to be seen. But I find it hard to see administration as a possible outcome, if only because it doesn't make any sense - all the debt is to the owners.

We know that Black has been funding the club and that he wants a write down of the original funding, either to increase his ownership and control or to make it more attractive to new investors. They stated the debt on the radio as; initial £9m (Fitton, Arbib, Black £3m each) unsecured, further £4m (Black £3m, Arbib £1m) secured - fuck knows what they're secured it against though.

None of this really makes sense when you consider the additional funding that (I presume) Black put it very recently. Why would he have done that if he was ready to pull the plug on it? Plus there is no suggestion that we won't make it until the end of the season or that there is any current financial issue.

I still think this is about Black wanting the original investments written down (or off) and nothing more.

[Batch]

As far as I can see it's all come from this one quote.

When asked if he could guarantee the club could avoid administration, Patey responded: "Not a single chairman in the country could do that."

No, that quote came from the 9am Patey interview live on BBC RS. The "potential administration" headline was on the 6:30am news

[tans]

Adrian Durham is a cunt. What a twat

[Arriba]

Administration or not, looking to offload the club now has to be a concern for fans and the club. Why plough all that dough in to then try to sell up? I can only assume that they see it as too expensive a project. They have put in loads and the wage bill etc is high.