Players not been paid

[Power to people]

Apparently (not seen it yet) the adver is reporting that the players have not been paid for September as of yet as neither side was willing to pay the money out.

Don't I remember them getting paid late for Aug as well ?

[Batch]

I think the non playing staff were paid by cheque in August to give the club a few extra days to realise some cash.
http://www.thisisswindontownfc.co.uk/display.var.1730848.0.little_deal_is_killing_us.php

JIM Little has revealed complications over Town's debts are a factor in the stalling of the County Ground takeover and admits the protracted deal is even causing him sleepless nights.

The Swindon Advertiser understands Town players' wages for September have been delayed, as dark financial clouds continue to hover over SN1, but chairman designate Little insists he still has full confidence the takeover will go ahead.
Sources close to the ongoing saga at the County Ground have revealed the Portuguese-led consortium are still desperate to take full control in Wiltshire but, as their lawyers continue to find holes in the terms of the deal, talks are still at a fragile stage.
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It is believed Town's playing squad, who lost 2-1 at Swansea last night, will be paid in full today after meetings between the current and potential owners yesterday.

But with significant debts still outstanding, Best Holdings are wanting to be convinced there will be nothing else coming out of the woodwork once the deal is signed before completing the takeover, believed to be worth in the region of £6million.

Speaking before last night's 2-1 defeat by Swansea at the Liberty Stadium, Little admitted everyone is working tirelessly to try and find a solution.

He said: "It is killing us at the moment. Both sides are still going over tiny points at the moment and of course we are working every minute every day to try and resolve this because both parties want to put this to bed.

"It is just taking a longer time than any of us thought. It is keeping me up at night. We were in a meeting until after midnight last Wednesday and there were more meetings yesterday.

"I am confident we will be able to say something soon about the final completion though because both parties really want it done. Unless something dramatic happens we still believe it will happen.

"The debts the club have are an important thing to resolve.

"We want to make sure the company has a balance sheet when we take full control and by that we have to make sure the issues over the debts are resolved. It is far to say the debts are part and parcel of the delay."

A potential £1.2million owed to former backer Bill Power is believed to be part of the problem with the prospective new owners keen to make sure they are not hit with extra costs once the deal is done.

8:13am today

[TalkTalk]

Looks like the Bill Power money "that Mike is taking care of" is causing a few problemos then...

[redbullzeye]

This is becoming a total pain in the arse but given what a lot of people were saying last season about the potential nasties that would be dug up it comes as no surprise.  But please get the fuck on with it :evil:

[fatbury]

Ive heard the takeover is off ..players arent being paid

God knows whats happening with the CVA .. it still hasnt been paid

I still pray for a Power Takeover

[STFC_Gazzza]

DOOOOOOOOOOMED!

[ghanimah]

not to worry though, it's all just 'minor paperwork'

[Chubbs]

stop being such busy bodies...and do some work.

[pauld]

Looks like the Bill Power money "that Mike is taking care of" is causing a few problemos then...

It's more than just the money owed to Bill, it's the scale of the debt as a whole and whether or not the board are prepared to sign off on an agreed figure. ie slightly more than "minor paperwork".

[red macca]

Apparantly Diamandis was very reluctant to guarantee that no debts would resurface after the takeover took place.

Just to add though at least someone has finally came out and let us know what is happening

[RobertT]

It's all par for the course.  Dunwoody filed a load of debts last time we went into a CVA (the first one I thnk) according to Peter Rowe (who was cleared in court and got Diamandis to pay compensation as well!).  They magically managed to create a marketing contract that had previously been terminated and got it included in the debts, or somethng like that, so it's not out of the blue to find the same sort of thing causing the delays here.

Presumably Diamandis' financial re-enginerring at the turn of the year has a large bearing on the current situation.

[STFC_Gazzza]

I would like to think its just how the club has meesed about with debts etc for years and now the full extent of it is coming to light ie. the club declares £3.5M in debt for example but has found another £1.5M in loans/other debts with other companies, current debts, not historical ones included in the CVA etc

ON A POSITIVE NOTE: Does it not give supporters a bit of optimism though as atleast it looks as if this new consortium are doing their work and looking through all the debts etc , more and more it looks nothing like a spin due to fact they will actually come out and say the current board have not mentioned all the debts etc which is good news atleast. It looks like they actually have the clubs interests in heart in terms of finances?

***The figures are used for illustrative purposes only

[RobertT]

although the fact they have gone public on the finer detail may suggest real issues that need resolving.  Go public and force their hand, especially after the clubs "the ball is in BEST's court" press coverage on Friday suggesting they had everything they needed.

In fact, why is Little having to advise us of our cashflow problems? and if players haven't been paid you can bet your life others haven't withint or beyond the club as well.  Wonder how creditors will see it given they are being told they'll get paid within a few weeks (a few weeks ago).

[Sussex]

Good 'ere innit.

[Lumps]

So basically BEST have finally realised that the club is up to it's eyeballs in debt and pissing money down the drain like there's no tomorrow month after month.

Why didn't they just ask us? We could have told them that months ago.