The Debt.

[Lost Leopard Spot]

I've just got a feeling that Holdsworth's mob will get the club at the 11th hour....

I haven't. The more I've heard the less I believe they've got the money, which means they'll need to borrow it... but they've got no assets to mortgage the borrowing against. Meanwhile HMRC require a minimum of £600000... which won't be forthcoming until somebody buys the club.
=
(winding up order)*
administration
...then some dubious consortium buys us!

*this step might get bypassed.

I'm not saying that they have the money, just think that somehow they will come to an agreement with ED that means we avoid administration

How can they come to an agreement if they have no money?
Question 1: Let's assume somebody turns up and ED says fxck it, you can have my £175 million said debt, and I want nothing for the club, it's yours. But, by the way, there's this mortgaged debt to get rid of, and this tax bill, and this VAT bill, and these outstanding payments (inc last month's footballers wage bills), and you need to know that the club is running at a loss. Just a million a month.
Who The Fxck Will Finance That Deal??????

[Lost Leopard Spot]

Question 2 is: If somebody can, do we want to know them?
Question 3 is: Is that sustainable?

[StaffsTrotter]

I've just got a feeling that Holdsworth's mob will get the club at the 11th hour....

I haven't. The more I've heard the less I believe they've got the money, which means they'll need to borrow it... but they've got no assets to mortgage the borrowing against. Meanwhile HMRC require a minimum of £600000... which won't be forthcoming until somebody buys the club.
=
(winding up order)*
administration
...then some dubious consortium buys us!

*this step might get bypassed.

I'm not saying that they have the money, just think that somehow they will come to an agreement with ED that means we avoid administration

How can they come to an agreement if they have no money?
Question 1: Let's assume somebody turns up and ED says fxck it, you can have my £175 million said debt, and I want nothing for the club, it's yours. But, by the way, there's this mortgaged debt to get rid of, and this tax bill, and this VAT bill, and these outstanding payments (inc last month's footballers wage bills), and you need to know that the club is running at a loss. Just a million a month.
Who The Fxck Will Finance That Deal??????

Does everyone who gets involved in a football club expect to make money ?

[Gary the Enfield]

So

Are we still here yet?

That's a bit too subtle for this forum. Unless you're using nuance. LLS will be along shortly to explain.

He won't. If you want to play the c*** you can do it all by yourself.

You started it.

[Lost Leopard Spot]

So

Are we still here yet?

That's a bit too subtle for this forum. Unless you're using nuance. LLS will be along shortly to explain.

He won't. If you want to play the c*** you can do it all by yourself.

You started it.

Did I?

[Gary the Enfield]

So

Are we still here yet?

That's a bit too subtle for this forum. Unless you're using nuance. LLS will be along shortly to explain.

The club can't afford to pay their non playing staff. I get that we aren't in administration yet, but is this really the time to mock people worried about the severity of the situation the club finds itself in?

I'm not mocking anyone. Yes the situation is dire. I know people personally who are on the payroll.

[Gary the Enfield]

So

Are we still here yet?

That's a bit too subtle for this forum. Unless you're using nuance. LLS will be along shortly to explain.

He won't. If you want to play the c*** you can do it all by yourself.

You started it.

Did I?

Yes. You did.

[Lost Leopard Spot]

I've just got a feeling that Holdsworth's mob will get the club at the 11th hour....

I haven't. The more I've heard the less I believe they've got the money, which means they'll need to borrow it... but they've got no assets to mortgage the borrowing against. Meanwhile HMRC require a minimum of £600000... which won't be forthcoming until somebody buys the club.
=
(winding up order)*
administration
...then some dubious consortium buys us!

*this step might get bypassed.

I'm not saying that they have the money, just think that somehow they will come to an agreement with ED that means we avoid administration

How can they come to an agreement if they have no money?
Question 1: Let's assume somebody turns up and ED says fxck it, you can have my £175 million said debt, and I want nothing for the club, it's yours. But, by the way, there's this mortgaged debt to get rid of, and this tax bill, and this VAT bill, and these outstanding payments (inc last month's footballers wage bills), and you need to know that the club is running at a loss. Just a million a month.
Who The Fxck Will Finance That Deal??????

Does everyone who gets involved in a football club expect to make money ?

No. You need, as I've said earlier, somebody with funds who wants a toy.
And as I said earlier, usually, those funds are ill gotten, and the toys they want are Premiership level.

[Gudnib]

Sorry I have been off line since Saturday. Leccy restored an hour ago. Wasn't summat expected whilst we've been burning candles.
I've never said that Deano's gang had no dosh but its always seemed doubtful just how much they would or could come up with.

[StaffsTrotter]

So you are just aiming to squash any flickers of optimism then ?

FWIW my gut feeling is a deal will be done and admin will be avoided. At this moment I'm lets say apprehensive, about our likely new owners

[Bruce Rioja]

Interesting to see those who told us administration was an impossibility, foretold by financially clueless Feck wits, have gone very quiet. Bravo.

Interesting indeed. In fact apologies are due, but unforthcoming no doubt.

You spoke out against this, no doubt! Care to point out where you did?

You could try Tuesday December 1st 6:34pm on this very thread
What you've leapt to, like a lot on here quite often, is the wrong conclusion... I wasn't asking for an apology to me, but that in fact apologies were due. (when did such simple phrases in the English language get so misunderstood ).

Where's the misunderstanding?

[malcd1]

I personally think whoever wanted to take over were prepared to reduce the outgoings significantly to bring them back within our income stream. Run it like a football club should be run. What they probably didn't factor in was when ED said he would write off the clubs debt they didn't expect such massive debt to other people and the tax man (basically what LLS said).

I don't doubt that they are prepared to take on the monthly deficit, for a short while, but around £20m still needs to be paid by someone. I suspect the potential new owners want ED to write some or all this off as well. Stalemate.

[ChrisC]

Super John and Iles have just followed Hilary Devey on Twitter. Hmmm.

[Il Pirate]

Many years ago now, more than I care to remember, we played and won at away Hull City. It seemed to be the dawn of a new era for BWFC. On Saturday, we play away at Hull City. The portent is there.

[twilight]

Super John and Iles have just followed Hilary Devey on Twitter. Hmmm.

Wouldn't worry too much about that, think she's after attention like last time

[ChrisC]

Super John and Iles have just followed Hilary Devey on Twitter. Hmmm.

Bit of momentum behind a local consortium at the moment. Nothing concrete and obvious time issues. But clear there is passion for #bwfc

So @HilaryDevey fancies heading a #bwfc consortium? What would Dragons have made of a non-Prem football club's business model?

[Gudnib]

So you are just aiming to squash any flickers of optimism then ?

FWIW my gut feeling is a deal will be done and admin will be avoided. At this moment I'm lets say apprehensive, about our likely new owners

Nah. Just trying to be realistic.
When you look back a few years we were punching above our weight but we did have a successful manager, a (fairly)wealthy owner and a board of experienced finance and management professionals.

[BWFC_Insane]

Super John and Iles have just followed Hilary Devey on Twitter. Hmmm.

Bit of momentum behind a local consortium at the moment. Nothing concrete and obvious time issues. But clear there is passion for #bwfc

So @HilaryDevey fancies heading a #bwfc consortium? What would Dragons have made of a non-Prem football club's business model?

Devey is proper mental and knows next to nothing about BWFC or football.

This is total and utter attention seeking shite.

More relevantly Nixon claims someone with real actual money is taking at least a passing interest. There may be hope still yet.

[LeverEnd]

Super John and Iles have just followed Hilary Devey on Twitter. Hmmm.

Bit of momentum behind a local consortium at the moment. Nothing concrete and obvious time issues. But clear there is passion for #bwfc

So @HilaryDevey fancies heading a #bwfc consortium? What would Dragons have made of a non-Prem football club's business model?

Devey is proper mental and knows next to nothing about BWFC or football.

This is total and utter attention seeking shite.

More relevantly Nixon claims someone with real actual money is taking at least a passing interest. There may be hope still yet.

Now if Nixon is right then you can expect to receive apologies rather than dishing them out! Let's bloody well hope he is.

[Riviman]

Should be even cheaper to buy the Wanderers this weekend there's 15% off all purchases !!

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