Administration and recovery

[Worthy4England]

I've spent a few hours going through the published figures (as they are) for both the club and the hotel.
I cannot come up with any reasonable scenario that makes owning the hotel imperative to running the football club on the basis of those figures. The hotel is at best, ticking over, it's not going to pump income into the club. The only reasonable assumption is that as the stadium and hotel are one structure then a sale of that structure will depend on both elements being in place.
But, however, if that's the plan, then the EFL have already warned that that particular business model is unsustainable (refer yourselves to Sheffield Wednesday as an example), so why would they sign off on it?
If FV need to have the hotel in order to buy the football club, then the football club is in deep shit...

And not once did I mention circularity or a lack of dosh in the above sparse analysis (although not as sparse as Iles or Nixon's bullshit combined)

I couldn't either - but then we're not party to whatever plans they might have for the hotel...For all we know they might want to convert it to a swimming pool or a data centre or a wacky warehouse...

Indeed, Amazon are always on the lookout for centrally placed distribution centres...
But it still necessitates selling the stadium and renting the pitch back for games to be played on. That particular scenario is going to be stamped on hard, and soon, and probably not just at the instigation of the EFL.

That's a whole different bucket of circular things!

[TonyDomingos]

EFL has given Bury until noon on Monday to prove they have ££ otherwise their opening day game will be suspended.

https://www.burytimes.co.uk/sport/17798 ... fl-threat/

[Bruce Rioja]

EFL has given Bury until noon on Monday to prove they have ££ otherwise their opening day game will be suspended.

https://www.burytimes.co.uk/sport/17798 ... fl-threat/

Hang on. What happened to the fortnight they gave them?

[TonyDomingos]

EFL has given Bury until noon on Monday to prove they have ££ otherwise their opening day game will be suspended.

https://www.burytimes.co.uk/sport/17798 ... fl-threat/

Hang on. What happened to the fortnight they gave them?

I think they had to prove something a day or two ago and that would lead to the fortnight to prove something else. They didn't meet the deadline, so the EFL has said do it by noon Monday or we'll call off the game. Possibly.

[nicholaldo]

EFL has given Bury until noon on Monday to prove they have ££ otherwise their opening day game will be suspended.

https://www.burytimes.co.uk/sport/17798 ... fl-threat/

Hang on. What happened to the fortnight they gave them?

I think they had to prove something a day or two ago and that would lead to the fortnight to prove something else. They didn't meet the deadline, so the EFL has said do it by noon Monday or we'll call off the game. Possibly.

I believe they have to provide information to the EFL which proves they can meet the terms of the CVA they've agreed or face expulsion from the league. They've been given fourteen days to do that with effect from yesterday. The EFL seemingly won't allow them to play until they provide the necessary information, and I expect notice of cancellation has to be issued to clubs, police, ambulance services and so on in advance.

So, as a result, if they fail to provide the required information to the EFL by noon on Monday, Saturday's fixture will be suspended. If they then fail to provide the required information within the fourteen day period, they will be expelled from the league (unless an extension to the deadline is allowed).

[Lost Leopard Spot]

^ an excellent summation.

[Bertie Wooster]

What happened to 'the deal is imminent' headline reported on sky & the bbc etc. on Monday - was this just a deflective bullshit announcement put out by the extremely incompetent admins because Bassini had rolled up spouting his shite ?

[Lost Leopard Spot]

Does anybody think that Bury and their CVA process has any real bearing on us and our Admin process?
Does anybody feel that if the FV venture runs out of any more steam, then the EFL won't be on our case faster than a blink of the eye?
Does anybody think that David Rubin and Partners have our best interest at heart?
Does anybody think David Rubin and Partners will keep us in 'administration' once the season starts, rather than liquidating us?

[Lost Leopard Spot]

What happened to 'the deal is imminent' headline reported on sky & the bbc etc. on Monday - was this just a deflective bullshit announcement put out by the extremely incompetent admins because Bassini had rolled up spouting his shite ?

If I've correctly kept up with the imminent media movement, then we are due an update tomorrow to announce significant progress focused on this coming Wednesday.

[Martin_Cruise]

What happened to 'the deal is imminent' headline reported on sky & the bbc etc. on Monday - was this just a deflective bullshit announcement put out by the extremely incompetent admins because Bassini had rolled up spouting his shite ?

Looks like it, the administrators are slow to talk about things like when tickets will go on sale and when players will be paid but respond rapidly when Bassini appears.

[LeverEnd]

And Appleton shares the unpaid-in-5-months players' frustrations while fecking about for his grossly inflated guaranteed king's ransom. Let's not forget that. Sick of these wankers now.

[BWFC_Insane]

The deal is out of the club administrator’s hands. Which is why they cannot update on the situation. It’s up to quantuma and more crucially Football Ventures now. I think worth noting that the admins are only paid out of the sale. So they will be as frustrated as we are!

[Harry Genshaw]

I think worth noting that the admins are only paid out of the sale. So they will be as frustrated as we are!

Don't their 'eye watering' hourly rates continue to accrue? Word was that they would be working this weekend to try and sort things.

I'm sure they're working very hard but I'm positive they're no where near as frustrated as us!

[BWFC_Insane]

Now seriously is not the time to worry about the administrators and their fees. Deals are in place for the club and hotel. They could be done very very quickly. The fact that as it stood yesterday they weren't being is not down to the club admins - who yes are very handsomely rewarded for what they do but if what they do is save the football club then I really couldn't care less. However, that is in considerable risk if some people do not pulls their fingers out and get a very sharp move on. The league are now looking very closely. They want confirmation that we can play a suitably senior team on Saturday. And they wanted it Friday - and I suspect won't give us very long this week.

Nobody can provide assurances whilst certain people drag their feet....which everyone prays are not getting cold.

[Bertie Wooster]

Now seriously is not the time to worry about the administrators and their fees. Deals are in place for the club and hotel. They could be done very very quickly. The fact that as it stood yesterday they weren't being is not down to the club admins - who yes are very handsomely rewarded for what they do but if what they do is save the football club then I really couldn't care less. However, that is in considerable risk if some people do not pulls their fingers out and get a very sharp move on. The league are now looking very closely. They want confirmation that we can play a suitably senior team on Saturday. And they wanted it Friday - and I suspect won't give us very long this week.

Nobody can provide assurances whilst certain people drag their feet....which everyone prays are not getting cold.

So as with the majority of your posts you claim time & time again that you are ITK - so do you know for a fact that deals are now in place for both the club & hotel ?, and if you are so ITK who exactly is dragging their feet ?

[Lost Leopard Spot]

Now seriously is not the time to worry about the administrators and their fees. Deals are in place for the club and hotel. They could be done very very quickly. The fact that as it stood yesterday they weren't being is not down to the club admins - who yes are very handsomely rewarded for what they do but if what they do is save the football club then I really couldn't care less. However, that is in considerable risk if some people do not pulls their fingers out and get a very sharp move on. The league are now looking very closely. They want confirmation that we can play a suitably senior team on Saturday. And they wanted it Friday - and I suspect won't give us very long this week.

Nobody can provide assurances whilst certain people drag their feet....which everyone prays are not getting cold.

So as with the majority of your posts you claim time & time again that you are ITK - so do you know for a fact that deals are now in place for both the club & hotel ?, and if you are so ITK who exactly is dragging their feet ?

...you'll not get an answer.

[BWFC_Insane]

Now seriously is not the time to worry about the administrators and their fees. Deals are in place for the club and hotel. They could be done very very quickly. The fact that as it stood yesterday they weren't being is not down to the club admins - who yes are very handsomely rewarded for what they do but if what they do is save the football club then I really couldn't care less. However, that is in considerable risk if some people do not pulls their fingers out and get a very sharp move on. The league are now looking very closely. They want confirmation that we can play a suitably senior team on Saturday. And they wanted it Friday - and I suspect won't give us very long this week.

Nobody can provide assurances whilst certain people drag their feet....which everyone prays are not getting cold.

So as with the majority of your posts you claim time & time again that you are ITK - so do you know for a fact that deals are now in place for both the club & hotel ?, and if you are so ITK who exactly is dragging their feet ?

As far as Rubin and Partners and their colleagues working on the deal were concerned the hotel and club were "ready to go" Friday - I mean they were ready to have paperwork exchanged over the weekend and deal to be done very soon today. Now - all I can say is that was on Friday. Its not the first time from the club admins perspective things were ready either....so they might be wrong or overly optimistic or excitable or liars. I do not know. I'm only relaying what is said.

But regardless as of yesterday what was anticipated hadn't happened and the reason for that can only be down to one party not getting a move on or more worryingly having "cold feet" as the costs for the hotel have no doubt escalated (from what was anticipated in May) over the past week or so.

[Bertie Wooster]

You have said 'I'm only relaying what is said', who said this exactly ?

[Worthy4England]

From what I've read from the Club Admins forthcomings, the deal for "Club" read like it is as ready as it needs to be (their last "statement") - albeit with the fact that Club owed Hotel owed Anderson owed EDT (is that called a quadrilaterally or something?) and the problem that the whole deal was all incumbent on the hotel. Hotel I'm less sure about as Quantuma don't appear to have said anything about it.

I agree with BWFCi, that on the face of it, there appears to be very little Appleton can do at this stage if his side of the deal is largely finalised - it's all down to the "other half" of the deal and sat with Quantuma and FV and I guess that if the Hotel deal was the wrong shape for FV, they might need to re-open the Club negotiations...

None of the above suggests whether FV have enough money or not, just where the two deals look to be from "public" proclamations.

[bristol_Wanderer3]

Well, this must be positive news:

https://www.wycombewanderers.co.uk/news ... lton-fans/

Panic fanny meter reading decreasing slightly to a still highly concerned 4.1.