Administration

[Arriba]

Where's Bill power when we need him?

[Batch]

I'd imagine jw was phoned by bbc rs and just gave his view. Obviously being sacked and then financial uncertainty could lead people to a conclusion, but he didn't really come in the radio all guns blazing to defend his tennure.

 I think he was just giving an Opinion and being supporting of the club/ black. Nothing more.

[Trashbat?]

But how many millions will the club lose if those 10 points cost us promotion? And what if the FA impose a larger penalty? It would be a huge risk.

You would like to think the club would speak to the FA first before making any decision, the club with 20/30 point deduction or relegation would be to a degree as unapealing to investors as huge debt surely.

The "A" word regardless of how it is done could destroy bridges the club have made in recent years with local business, EA Sports, 442, Samsung, it may also alienate fans who have just supported the club or just returned to supporting the club after the last board put us through it.

[DV]

We just aren't going to go into admin. The end result of administration would be that Andrew Black loses all the money he has put in. If he was going to do that, why not just write off the debt? It's bullshit.

Indeed - the only person to lose out is Black himself and if he is happy to lose out then he could as you say just write it off...and be in exactly the same position

[hobnob]

We just aren't going to go into admin. The end result of administration would be that Andrew Black loses all the money he has put in. If he was going to do that, why not just write off the debt? It's bullshit.

THIS (hopefully)

[tans]

I like the way other teams are all saying we are a disgrace and owe money to the taxman, hmrc etc.

Black must have his fingers in many pies if that is the case.

[lambourn red]

Haven't read through this whole thread yet but I'm more angry at the Adver this morning than the board. Sensationalist and unhelpful headline writing. I'm sure everything will work itself out, these are not crooks and idiots running our club, they'll find a suitable buyer and hopefully it'll be a smooth transition.

I'm sure Paolo will give an interesting interview when he gets chance to

To be fair it was BBC Wilts that sensationalised it and went public without even contacting the club or chairman the Adver have just jumped on the bandwagon

[Batch]

Black, fitton, wray, arbib - didn't they all invest and hence all potential losers come administration?

Someone set me straight.

[Saxondale]

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

[Samdy Gray]

Jezza Wray to the Adver, this morning:

"The club doesn't owe a penny, doesn't have an overdraft, doesn't owe the taxman - any debt is only to its shareholders and to its owners and as a result everything that's out in the open now is what's been known for a long time.
 
"That is that Andrew Black is looking for a change in ownership of the club."

[Peter Venkman]

Black, fitton, wray, arbib - didn't they all invest and hence all potential losers come administration?

Someone set me straight.

As far as I am aware yes they are all owed money in different proportions, the fact that Fitton and Wray would not write off the debt is obviously what has brought this to a head.

According to Patey (I think it was) he stated that Fitton and Wray were unwilling to write off their debt, without them writing off their debt then the club are obviously a harder proposition to sell.

[Batch]

Exactly what I thought. Which is the reason black alone can not write off debt - there are other shareholders to consider.

And to be fair I can see their point should they not want someone walking in and benefiting from their investment.

Assuming that's what had happened... Which it may not.

[Simon Pieman]

From what has been said on the radio (I’ve only read the summaries on here) it would seem as though admin is only a possibility because Andrew Black won’t put any more money into the club if it needs it to meet day-to-day bills. It doesn’t sound like a method for wiping out inter-company and related party debts which is what the BBC article infers.
My two pence is that Andrew Black is trying to push through the sale quickly whilst we’re still in a good position. A points deduction would seriously hinder the potential new owners /investors if aspirations are Championship football, or even a league 1 side. If I recall the rules correctly, if we did go into admin and didn’t come out of it I think we could get points deducted next season too, not to mention sale of our best players at a probable reduced value. I think he’s trying to force the sale.
There was a lot of controversy regarding di Canio saying it was a hostile environment a little while ago. Perhaps he was closer to the mark than many people thought.
I think we can all appreciate how spoilt we were under Fitton and Wray’s chairmanship – certainly from a transparency perspective. Patey acts as a spokesperson, not a chairman in my opinion, although none of us really know his real role behind the scenes.
All of the above is just my educated opinion.

[Honkytonk]

From what I can see it's not because we've run out of money, or the club is going to collapse- it's the simple fact that our current majority shareholder (i.e. owner), Andrew Black, doesn't want to be the owner anymore. They are searching for new owners. They might bring in some people who know how football finances work to make the place look more attractive to potential buyers, but it's not Administration, and it shouldn't be.

We don't owe any money to anyone other than our investors/shareholders- the majority shareholder wants to sell his share in the club. We're looking to bring people in to replace him. Simple as that.

Patey, it seems, doesn't fully understand the fear that the A word puts in football fans- particularly us.

[Bewster]

Can we all chip in and buy a TEF Euromillions ticket ?