Administration

[herthab]

How are they any different other than the sums of money involved being vastly higher?

I've never seen anything to suggest that the owners of Chelsea or Man City have written off all the debt.

Are you a bit special? How long has Abramovich been at Chelsea? Compare his length of tenure (and the success they've enjoyed) with the same period at Swindon. People giving it all tradition, or self sustaining seem to be missing the major fact to most fans: success.

[Ardiles]

I wouldn't want some mega rich foreigner owning the club, they would get bored quickly.

I wouldn't want some mega rich foreigner owning the club, I would get bored quickly.

[Flashheart]

I'd be all for an Abramovich type, with the facet that we aren't left right royally screwed when they leave.

[Ardiles]

Im finding this all a bit weird.  A thread about our financial situation has turned into a thread about some sort of rivalry with some club I really dont give a shit about.  Dosteyevsky has gone from a bit mental into full on charlie sheen on a weekend bender levels of hysterical mentalness.  There seems to be a bit of green street, some racist and homophobia discussion as well.  Its a bit odd.

In the meantime we have our chairman wanting to sell and the football world declaring we are disgusting whilst other examples of football excess go unremarked upon (afcb signing 2 permanent and 1 loan deal today.  How many players and how much in wages do they actually need to spend) ignorant of the fact that all that's happened is that we have run up debt which is about a third of that championship bristol city are run up in one year but we've taken over 5 years to do it.  

Apparently whilst in league 1 Huddersfield (accoriding to one of their own fan) says that their wage bill was not the highest at 7.5mill.  And a doncaster fan reckons their wage bill is 0.9 mill higher than ours this season as it stands.  But we are still villified by idiots as a shocking example of excess.

In the 5 years the current people have been in charge we've had great entertainment (allright we've had paul hart as well but that was still entertaining watching his 4-3-3 not 4-5-1 discussions).

Hopefully someone will buy us, Im not really worried.  Its all part of the rollercoaster of being forever STFC.

Great post!

There are times - and after the twattery of the last few days, this is one of them - where I want to seek out Tim Berners-Lee and then kick him squarely in the bollocks.  In the pre-internet era, people were nicer and less arsey.  They tended not to give a shit about things they had no business giving a shit about.  Or at least if they did, they kept it to themselves and everyone else was happy.

Some of the ill-informed, poorly thought out, partisan bile posted up on here and elsewhere during the last few days has been embarrassing to read.  This is what happens when you give computers to wazzocks.

[Batch]

There are times - and after the twattery of the last few days, this is one of them - where I want to seek out Tim Berners-Lee and then kick him squarely in the bollocks.  In the pre-internet era
...
Some of the ill-informed,

Tim Berners-Lee didn't invent the internet   Here's his twitter if you want to arrange a bollock kicking @timberners_lee .

[Benzel]

From FF:

 

This makes me feel stupid. As though it's rubbing off on me. Now I'm not saying I'm the sharpest knife in the drawer but it's like people can't read.

[Flashheart]

There is something I don't understand though......

Why is administration even being mentioned? Surely the only people that can call in the debt are the people that own the debt, so why would administration be necessary. If things do get that bad, why not just write it off?

Sorry if it's been asked already, I missed most of the action yesterday.

[Simon Pieman]

There is something I don't understand though......

Why is administration even being mentioned? Surely the only people that can call in the debt are the people that own the debt, so why would administration be necessary. If things do get that bad, why not just write it off?

If Andrew Black wouldn't put any more money into the club, it may not be able to pay things like player wages etc. In other words, it couldn't continue to trade. It's a possibility.

Administration doesn't wipe out any debt though.

[Flashheart]

If Andrew Black wouldn't put any more money into the club, it may not be able to pay things like player wages etc. In other words, it couldn't continue to trade. It's a possibility.

Administration doesn't wipe out any debt though.

Ah, that makes sense. So obvious I feel a tad silly for asking really.

Cheers.

[LittleRed]

I'm confused it had been reported that if we were to go into administration our debt would go from 13m to 4m and 9m would be wiped out. Also today the  adver reported that the owners investors would all loose their money excluding black. I don't know if that was a typo and should have said including.  I'm sure administration does mean that some of the debt is wiped out.

[Batch]

No, as Si Pie said earlier in a thread that its the CVA that would wipe debt. That's an agreement made between those who owe money and those who are owed money, and it requires a certain % of agreement for it to go through.

Administration, as I understand it, is an appointed regulated company (or rather a person belong to one) taking over running of the business and doing what is necessary to keep it trading, if at all possible, in order to sell the company and/or agree CVA. Basically they tend to slash costs as much as possible, and if they can't keep the company trading it goes into liquidaiton.

Oh god....its all reminded me of Andronikou

[LittleRed]

Thanks for clearing that one up Batch.

[Ardiles]

Administration, CVAs...you'd think we'd all be experts by now.  

[Flashheart]

It's good to brush up now and then

[Batch]

I'm sure I've not got it 100% right, but you get the idea