Thetownend.com

On STFC World. We are now allowed to sign players etc but still need football league approval until all creditors paid at the end of the season. CVA Will be gone and Inland Revenue will be paid by the end of the season, all fine paid, will be debt free by 31st may

http://www.swindontownfc.premiumtv.co.uk/page/sub/Radio/0,,10341~1215903,00.html?

I'll give a run down of the STFC World in a min.

-Telephone conversation Went very well with Football League
-Dave and Maurice can move forward now
-Takeover officially completed today
-Agreement made with creditors and inland revenue
-League have lifted TOTAL embargo
-League have introduced a FLEXIBLE embargo, meaning we have to tell the FL that we have paid creditors etc and get approval from football league to sign players/loans etc
-Players could arrive Thursday once signed off by FL on Thursday
-Will be officially lifted on Thursday at Football League meeting
-CVA will be gone by 31st May
-Inland revenue will be gone by 31st May
-Football League fines gone by 31st May
-By 31st may balance sheet of business will be back in order and 100% clear
-League want to see clubs getting themselves sorted out and will be thrilled to lift the Flexible embargo by 31st may.

ON ANOTHER NOTE: Inland Revenue I believe was paid today and the CVA to follow shortly.

CVA by 31st may?

this is exactly what people were up in arms about with the previous regime and the bloke who was in charge of it (forgotten his name).

I think he was saying that all current debts etc will be paid by that time, meaning the CVA could be paid now but all debts will be paid by 31st May.

Androniku you mean

I thought the whole idea was to pay the debts reasonably straight away other than HMRC

isnt that what the old board said as well?

not exactly subscribing to the "clear and transparent" mantra that they've been chanting the last month!

oh, and i hope we dont get deducted points!

fitton out.

yeah!

The embargo being lifted does nothing for the Cup game in case anyone was wondering.
The player must have been at the club for the original game in order to be eligible for the replay...

But it's a lovely feeling anyway...

For fuck sake.... ALL DEBTS INCLUDING THE CVA, HMRC etc will be cleared BY the 31t May, The Tax man was paid today, the CVA may be paid next week. It means all the stuff that emerged and god knows how much it is will be paid by then.

Instead of reading it as that people read it as OH THE FUCKING CVA WONT BE PAID UNTIL JUNE NEXT YEAR... typical Swindon fans pick out negative points.

If everyone was not in agreement the Embargo would not be lifted.

Dude

we wont be docked points as the administration period and CVA has now not officially failed

I think there is one major difference here when it comes to flexibility in varyining the CVA.

The main point is that there was no way on this earth that creditors (HMRC) would do any further deals with the old regime, and quite rightly so.


The new regime are a completely different kettle of fish with solid investment and superior business accumen.

Who would you do a deal with ?

Thank you Fred.

The embargo being lifted does nothing for the Cup game in case anyone was wondering.
The player must have been at the club for the original game in order to be eligible for the replay...

But it's a lovely feeling anyway...

No but Corr will be available.

i am merely pointing out that people on here were in uproar when it was said before that the cva would be paid by 31st may, but now it's looked upon totally differently!

if i could find that happy clapper thing then i would use it here.

What about Bill Power? Its all gone very quiet on that front ...

I can completely understand that Lebowski, but like I said the previous regime were trying to negotiate from such a weak position (ie: business history and completely skint) that people were up in arms that they had the gall to even attempt it.

We could just see, if they did negotiate, another 5 years of shite

This is a completely different situation

I have this feeling that will be settled out of court Dell

i have no idea why you're even trying to compare the two.

how convenient.

hey ho.

you are of course absolutely right.

the previous lot had no credibility among the majority, whilst the current lot have the benefit of the doubt after some good PR.

there will be some cynicism though, trust has to be earnt.

and that is all i am saying.

It would be the best way for both parties thats for sure.


Regarding the pay offs of all other debts, I believe they have handled this in a very professional way and I've never felt so up being a Swindon fan in bloody years. :D

Agreed Lebowski


proof of the pudding is in the eating

However, it smells fucking good at the moment

Amen to that brother

:mrgreen:

E-I-E-I-E-I-O ???  :D

Like treacle tart pudding??!  :)

Nah

better than that mate

 :mrgreen:

Apple crumble?

not this season, I wouldn't think. And anyway everytime we sing that song the other team end up scoring 8)

Blackberry and apple crumble with cream, ice cream AND custard

you can't have cream, ice-cream and custard. Thats wrong. Custard all the way.

all 3 mate, all 3

Anyone every have rice pudding with custard.  Absolutely lovely!!  Custard must be thick though, and rice pud needs nutmeg!!

With regards to AF sorting out the debt, effin fantastic!!!  The man is a legend, I don't care being accused of blind faith the man has saved our club.

Oh and no more Bob Holt bs. :beers:

Mmmmmm ... mouthgasm

 :mrgreen:

I think lebowski is right to question.

Im not suggesting that we start a campaign to get rid of Fitton or anything but all that has happened  is some new people have come in (of whom nobody really knows anything)and mde a whole set of new promises to act by a certain date and Swindon fans have decided to take them at their word.As far as  can see not alot has really changed,we're told to "trust" this lot but personally I think trust needs earning.

I think the reason most are happy is the fact that we now have three men involved who do have the money to get us out of the financial trouble.

I see no benefit in questioning their every move over the first few months.  Trust does have to be earned, but we already have them to thank for ridding us of the drip feeders who really did not have the backing to drive the club forward.

I'm glad that it's not a white wash on here and we're all going crazy about the takeover, but compare the 15 January to the 15 November and I think we can all agree that the future is looking a heck of a lot better.

To certain extent I agree.  Trust does need to be earned, however the right noises are being made to suggest that the trust is going to develop.  The fact that Mr Fitton has pretty much cleared up what everyone is goign to do at the club is a good thing, how many years did it take before the existence if Diamandis was ever confirmed.  I also get the impression that unlike the previous regime if we do need a few quid, they actually have it, which Wills et al never had.  Fitton's longstanding and committed attempts to by the club fill me with confidence too.

I can Lebowski/Oevil's point about 31st May.

But just consider the fact that Mr Fitton has taken control from today, that gives him 136 days to pay it. The last lot had 5 years. Can you see what people are getting at now?

the main thing with the new board and the old lot are things are actually being done and being done in the right manner.

bills being cleared, embarGO being lifted etc.
these are big things for STFC as it was these certain items which could have seen us wound up.

as for now going out to buy players, spend this, spend that etc i'm more than happy with a couple of loan players and then build for next season which when the current boards true metal will shine through.
to get us out this league and to try and get us established as a decent championship club

Ok what I mainly dont understand is if these people are so minted why do they need 3 months to find the money?

I'm not slating them and im glad they've taken over but surely this is the million dollar question thats not being asked?If they have the money to pay it in May why havent they got it now?

I know I sound like a bit of a Bart here but its better to question than follow along blindly surely..

I wonder the same thing mate.

Although maybe they have good reason for it, and considering that are far better quailfied than myself at these things, I'll just accept that they know what they are doing.

Standard business practice isn't it, they are paying off the debts one by one, starting with the tax man, therefore our money stays with us longer, accruing interest etc.

I am purely speculating here btw, I have no understanding of how businesses work at all.

I think is fucking fantastic news, it's all starting to come together, bills are being paid, embargo lifted and I'm chuffed to bits.

 :beers:

you beat me to it.was going to ask the same thing.
lebowski's point was perfectly valid too imo.
that said, i am no longer nervous about the clubs future

Spotted Dick, given your lifestyle ?   :wink:

Just a thought, but maybe they want to sort a few things out before paying the debts? They might decide to look for areas where we are being inefficient (the wages of certain players for a very small start) in order to cut back and save money rather than charge in and needlessly pay out of their own pockets.

I think you hit the nail on the head there. Why do you think people wait for 2nd red letters etc as well... so the money gains more interest in your own account!

It's very positive. If someone had said we'd have all debts paid by the end of May this year a few months back we would have laughed our socks off. Great news. Hopefully some new faces before Saturday's game as well.

The custard should have a thick skin too. Prerequisite with afters at STFC.