Administration and recovery

[Enoch]

So, I wonder what happens when the Administrators' choice fails to live up to the hype swallowed by the administrators? Do the Administrators go into administration?

I believe what generally happens is the administrators cash their generous cheque before f*cking off to the next lucrative engagement.

Meanwhile the likes of you and I are left to endure another hundred odd pages of nonsense.

[officer_dibble]

So what happens when we are no further one come 1st August? Do we chuck the kids in? Pull out of the league? This clearly ain’t going anywhere soon.

[Branagan]

So what happens when we are no further one come 1st August? Do we chuck the kids in? Pull out of the league? This clearly ain’t going anywhere soon.

I managed to remain optimistic until some time last week. This is now my main feeling on the whole thing. Have a hunch we're going to be in exactly the same position at kick-off v Wycombe as we were at kick-off v York. Except with a handful of "fitter" but ultimately substandard, still distracted senior players. If they want to play at all that is.

[Dave Sutton's barnet]

So what happens when we are no further one come 1st August? Do we chuck the kids in? Pull out of the league? This clearly ain’t going anywhere soon.

I managed to remain optimistic until some time last week. This is now my main feeling on the whole thing. Have a hunch we're going to be in exactly the same position at kick-off v Wycombe as we were at kick-off v York. Except with a handful of "fitter" but ultimately substandard, still distracted senior players. If they want to play at all that is.

If it did/does get that far, it's worth remembering that appearing at Wycombe would trigger the rule that they could then only play for one other team that season. I'm sure they won't be hoping to get a permanent (free-transfer) move then be loaned out, but it might be an option for some - for example, Rangers are said to be sniffing round.

[Branagan]

So what happens when we are no further one come 1st August? Do we chuck the kids in? Pull out of the league? This clearly ain’t going anywhere soon.

I managed to remain optimistic until some time last week. This is now my main feeling on the whole thing. Have a hunch we're going to be in exactly the same position at kick-off v Wycombe as we were at kick-off v York. Except with a handful of "fitter" but ultimately substandard, still distracted senior players. If they want to play at all that is.

If it did/does get that far, it's worth remembering that appearing at Wycombe would trigger the rule that they could then only play for one other team that season. I'm sure they won't be hoping to get a permanent (free-transfer) move then be loaned out, but it might be an option for some - for example, Rangers are said to be sniffing round.

Do you think that would result in them playing against Wycombe and committing to Bolton for now, or refusing to show again? The remaining seniors are still in a position where they can walk for the right offer, right? I'm struggling to keep up now.

[Dave Sutton's barnet]

Have a hunch we're going to be in exactly the same position at kick-off v Wycombe as we were at kick-off v York. Except with a handful of "fitter" but ultimately substandard, still distracted senior players. If they want to play at all that is.

If it did/does get that far, it's worth remembering that appearing at Wycombe would trigger the rule that they could then only play for one other team that season. I'm sure they won't be hoping to get a permanent (free-transfer) move then be loaned out, but it might be an option for some - for example, Rangers are said to be sniffing round.

Do you think that would result in them playing against Wycombe and committing to Bolton for now, or refusing to show again? The remaining seniors are still in a position where they can walk for the right offer, right? I'm struggling to keep up now.

Yes, until (unless?) they get paid they're still entitled to walk away. TBH I'm surprised they haven't left already. They haven't been paid properly since March. They are legally and, I would argue, ethically within their rights to walk away and get a move elsewhere - and being free agents, they would probably get a better deal at their new clubs than if switched for a fee.

Taking aside our own bias. If this was happening at another club and we (or other clubs) were sniffing round a player there, we'd think he'd have to be mad not to move.

There are reasons why players stay put. One could be having roots in the area - eg Wheater, but not Oztumer. One could be having no better offers. One could be a very strong sense of loyalty to the club, or manager, or team-mates (the ones who are left) or fans.

But if it's still dragging on as we move into what could only be expected to be a slow car-crash of a season, and the transfer window enters its last month, I would not be at all surprised, let alone angered, to see players leave.

[Branagan]

My only assumption is those that haven't left haven't had a solid offer yet and so may as well keep training with us for fitness.

[BWFC_Insane]

From what I gather I do not think there is any plan to start the season in admin. My suspicion is season start is a hard deadline. Complete by then or club will be liquidated.

[BWFC_Insane]

Also remember FV have put in a 1M non refundable deposit. And administrators have recently made payments to some creditors including the training ground operators and some youth teamers. These are not actions of admins expecting to be liquidating the business in the next few weeks. Clearly there has to be some concern but suggest some reports have been more alarmist than necessary. Though till it’s done it’s not done.

[Lost Leopard Spot]

Also remember FV have put in a 1M non refundable deposit. And administrators have recently made payments to some creditors including the training ground operators and some youth teamers. These are not actions of admins expecting to be liquidating the business in the next few weeks. Clearly there has to be some concern but suggest some reports have been more alarmist than necessary. Though till it’s done it’s not done.

That was the longest shorthand for "whatever happens I told ya it would" pile of bullshit I've read since this saga began.
Thanks... That really cleared things up.

[Worthy4England]

Also remember FV have put in a 1M non refundable deposit. And administrators have recently made payments to some creditors including the training ground operators and some youth teamers. These are not actions of admins expecting to be liquidating the business in the next few weeks. Clearly there has to be some concern but suggest some reports have been more alarmist than necessary. Though till it’s done it’s not done.

It does feel like there's been a cock-up splitting the hotel part off from the Club part and running them with different timelines and different administrators. From what Iles last suggested, if the two weren't interlinked then the SPA on the Club should be all but complete by now, but given no bugger seems to have signed anything, then irrespective of the £1m, it looks like one isn't going to complete without the other...

[BWFC_Insane]

Also remember FV have put in a 1M non refundable deposit. And administrators have recently made payments to some creditors including the training ground operators and some youth teamers. These are not actions of admins expecting to be liquidating the business in the next few weeks. Clearly there has to be some concern but suggest some reports have been more alarmist than necessary. Though till it’s done it’s not done.

It does feel like there's been a cock-up splitting the hotel part off from the Club part and running them with different timelines and different administrators. From what Iles last suggested, if the two weren't interlinked then the SPA on the Club should be all but complete by now, but given no bugger seems to have signed anything, then irrespective of the £1m, it looks like one isn't going to complete without the other...

Certainly seems like complications around the split. But that split was down to the circumstances of two separate parties putting each into admin.

I’m not sure it’s as clear cut as one is dependent upon the other but related issues absolutely. Admins have said that completion does not rely on hotel completing.....

[Lost Leopard Spot]

Also remember FV have put in a 1M non refundable deposit. And administrators have recently made payments to some creditors including the training ground operators and some youth teamers. These are not actions of admins expecting to be liquidating the business in the next few weeks. Clearly there has to be some concern but suggest some reports have been more alarmist than necessary. Though till it’s done it’s not done.

It does feel like there's been a cock-up splitting the hotel part off from the Club part and running them with different timelines and different administrators. From what Iles last suggested, if the two weren't interlinked then the SPA on the Club should be all but complete by now, but given no bugger seems to have signed anything, then irrespective of the £1m, it looks like one isn't going to complete without the other...

Irrespective of the one million pound down deposit, they are seriously short of the amount guaranteed to the Administrators by four million. They are hoping to get away with it because... well why wouldn't they?

[BWFC_Insane]

FV were required to show proof of funding as part of the process. The admins have said repeatedly that they were the only party to do so satisfactorily. That money is in an account. And has been validated. Alongside the two year business plan. Whether the increased competition for the hotel is driving the price of that deal up and it means FV are struggling there I do not know. But court appointed administrators don’t repeatedly put out statements that are untrue.

[Lost Leopard Spot]

FV were required to show proof of funding as part of the process. The admins have said repeatedly that they were the only party to do so satisfactorily. That money is in an account. And has been validated. Alongside the two year business plan. Whether the increased competition for the hotel is driving the price of that deal up and it means FV are struggling there I do not know. But court appointed administrators don’t repeatedly put out statements that are untrue.

No, maybe not. But FV haven't put all £25m up front either. The reason why head of terms took so long to sign is the same reason why a sales and purchase order hasn't been signed. Because the money's not there...
It's not rocket science! Whether any other Fxcker didn't have the money either is literally neither here nor there. The best bidders don't have the dosh. They are trying it on. Here's a mill, sorry about the rest gov, but what are you going to do about it!!!?

[Branagan]

The way I've read things (and I could be misremembering here) isn't it a case of FV also wanting the hotel but there's more (or different) competition on that side and the tug of war is ongoing? If that's the case, it would mean that FV does have the money to satisfy club admin and EFL, just they're holding out for the hotel. I'm sure they're doing what's best for them in terms of business if the hotel makes a small profit, but in purely football terms it's becoming a very dangerous game. For me, start of the season is too late as a hard deadline!

[Worthy4England]

Also remember FV have put in a 1M non refundable deposit. And administrators have recently made payments to some creditors including the training ground operators and some youth teamers. These are not actions of admins expecting to be liquidating the business in the next few weeks. Clearly there has to be some concern but suggest some reports have been more alarmist than necessary. Though till it’s done it’s not done.

It does feel like there's been a cock-up splitting the hotel part off from the Club part and running them with different timelines and different administrators. From what Iles last suggested, if the two weren't interlinked then the SPA on the Club should be all but complete by now, but given no bugger seems to have signed anything, then irrespective of the £1m, it looks like one isn't going to complete without the other...

Certainly seems like complications around the split. But that split was down to the circumstances of two separate parties putting each into admin.

I’m not sure it’s as clear cut as one is dependent upon the other but related issues absolutely. Admins have said that completion does not rely on hotel completing.....

I hear what the Admins have said that one not reliant on the other. So question is what's the hold-up? There only appear to be a couple of options - the amount owed out is being contested (i.e. Moonshift/Anderson contesting "how much") or Spotty's "£4m (or other amount) hole" in the basic offer. Surely if it was nothing to do with Hotel and the amounts owed/no financial hole are all covered, then you'd think they'd complete like yesterday.

[Lost Leopard Spot]

The way I've read things (and I could be misremembering here) isn't it a case of FV also wanting the hotel but there's more (or different) competition on that side and the tug of war is ongoing? If that's the case, it would mean that FV does have the money to satisfy club admin and EFL, just they're holding out for the hotel. I'm sure they're doing what's best for them in terms of business if the hotel makes a small profit, but in purely football terms it's becoming a very dangerous game. For me, start of the season is too late as a hard deadline!

It isn't going to cost anywhere close to a significant fraction of £25mill to buy a hotel!
I could have sold you one in Matlock Bath for less than £2mill and guarantee you a profit of over £10000 pa from the off, despite it needing a million pounds worth of renovations.
Does the hotel's roof need rebuilding? Are refurbishment costs significantly higher than one year's profit? Is anybody going to be petitioning parliament if the hotel goes under? The answer to all of the above is No. The only connection is the lack of money on behalf of the consortium buying the hotel because they've already promised it on buying a football club...

[Bruce Rioja]

There's still time for Laurence to ride in on a white charger

[Lost Leopard Spot]

There's still time for David Sullivan to ride in on a white charger

Amended for you.