CVA

[Simon Pieman]

Seeing as everyone is so jolly at the moment, I'd thought I'd bring everyone back to an acceptable level of gloom
 


Anyway: Can anyone clarify how the CVA is being planned to be renogiated? i.e. is it going to be the same terms just over a longer period, or will it be less pence to the pound (or both)?

What also concerns me is that CVAs are put in place on the assumption you can make a profit. If we have still made losses over the current CVA term then I can't see how any sort of business plan (all hail the 5 year plan!) will turn this around.

[janaage]

Don't even think about worrying about this, I am extremely confident that we can re-negotiate this CVA payment.  Subject closed.

All the best

Mr Andronikou.

[fatbury]

Dont get me started on that bloody CVA!

[Arriba]

i think it will be succesfully renegotiated,this will make the consortiums takeover bid more difficult.
loads more drama yet imo

[fatbury]

i dont think so arriba .. after all if you were a creditor and you knew a takeover would mean immediate payment would you renegotiate for a new 5 year plan?

[STFC Bart]

Exactly. You would go for the option that will get you paid first

SBC are owed £411k, cant honestly see them agreeing a renegotiation

[Fred Elliot]

Oooh look

Fatbury logs out and Bart logs in

Amazing !

[Piemonte]

Stop talking to yourself fatbury.

SBC are owed 1/4 of that total under the CVA.

[Sharky]

why not.....they can't force the club to sell to the consortium just to get their money back sooner can they!
They CAN however say well we will not renegotiate the CVA as we understand there is another party that will pay it IF you let them take over and if you don't we will close you down....and then Mr A would then say...."Ok close us down!"

Yours Sincerely,

Mr Cinical

In all honesty though I don;t think the club will have any problem renegotiating the deal and I dont think it will ruin the consortiums bid, it will just give the club less reason to have to panic sell if they decided that they wanted to let go of the club (which I dont think they want to by the way).

[Sippo]

Oooh look

Fatbury logs out and Bart logs in

Amazing !

They're different people Fred- thats what my sources tell me anyhow.  

[chalkies_shorts]

Andronikou came across as a real clueless pratt at the fans forum. There was no doubt in my mind that he was acting for the current board rather than the creditors. He was 100% confident he would be able to renegotiate but not untli the end of the season due to :
1) Seeing what happenned to the negotiations
2) Seeing what division we were in.

If you bear in mind that the current board can't pay the CVA and their plan is to keep operating losses to £300 per year and get into the Championship then it doesn't quite add up. I think they're banking on higher gates ( when they are actually decreasing ) and higher advertising income ( which is also dropping ) to get them out of the brown stuff. Only Lukas and Brezovan would bids of £100k plus and one of them we don't even own yet.

Don't forget by the end of this month we should have :
1) Signed Brezovan and
2) Got the 2004/05 accounts signed off  

Their 5 year plan is not going to make it past Summer.

[pauld]

Anyway: Can anyone clarify how the CVA is being planned to be renogiated? i.e. is it going to be the same terms just over a longer period, or will it be less pence to the pound (or both)?

From what Andronikou said at the Fans' Forum, both. A reduced pay out staged over two-three years.

What also concerns me is that CVAs are put in place on the assumption you can make a profit.

That is the normal assumption, yes. But the "5-year" plan apparently predicts a £300k pa loss. I'm sure Mr Andronikou's magic wand will be able to square the circle though.

[Simon Pieman]

Thank you Paul. I didn't go to the fans forum and for some reason it wasn't mentioned anywhere by the club from what I could see.

[Frigby Daser]

I've taken a week off thinking about this whatsoever and immersed myself in a parallel land that is Football Manager. I'm 400k in the black and managing to turn bids of £2m down for a midfielder I bought for 65k 18 months before.

Now, in this darstardly Diamanditic world we live in, 2m for an 'asset' bought for 65k would be right up there with the Rory fallon and SSP deals among all-time-most-proud STFC-sale-moments. Not having the business acumen of Super Mike I turned down the bid and said midfielder looks to be getting me promoted again.

This world is better. On saturday afternoon I might be attending my PC not the Town End.

[Iffy's Onion Bhaji]

i think the board are just delaying everything to see if we go up or not. if we dont they wont bother renegotiating it and they'll sell up. at least thats what i bloody hope anyway!