The Debt.

[StaffsTrotter]

assuming the firing gun for the sales/ leases only started when TB appeared, the speed has been phenomenally /unbelievably quick and it makes me wonder whether they are in principle to one /all of of the interested parties. Whilst we may indeed be simply doing a fire sale type measure on our part, from a future owners perspective it seems strange to me, if they arent interested in intrinsic bits of the stadium infrastructure, which are in theory revenue generating and more consistently reliable income than the football. I thought the modern football business model relied on such multiple income streams

[TonyDomingos]

I have a debt of £1,000, on which I'm paying £100 a month interest. I have assets of £500 and no net income. Do I :

a) continue to pay the interest for the next five months by selling off my assets and then go belly up?
b) declare myself bankrupt, go into admin, lose both my assets and my debt?
c) go out with Enoch and pull a woman of a "certain age" who has substantial assets and who will see me reet?

You decide.

[BWFC_Insane]

In the simplest possible terms, selling things off now doesn't make a difference to administration.

Like you've mentioned previously, what we're doing now is an attempt to keep the club going long enough to allow a buyer to come in whilst trying to maintain some sort of continuity.

If the takeover fails, there is less to sell, so those with monies owed may lose out a little from what they would take away now, but if administration happens we don't have £200m worth of assets, so everything is getting sold, whether it is now or in a months time.

That's as I understand it anyway.

In admin you don't pay off the entire debt. The administrators negotiate with creditors to agree a percentage repayment, usually very low and then the rest of the debt is written off. For example if I remember Portsmouth owed HMRC 10M or so but in admin they paid about a hundred thousand of that. Or thereabouts.

Now given Eddie is the major creditor and prepared to clear his debt we are talking about the HMRC amount, the nucleus loan and Warburton's loan. That we know of.

Let's say 30M. And we'd pay a fraction of that most likely. Of course that is the absolute best are scenario if agreement can be reached. But there is no way we are paying the full debt back whatever happens.

[Worthy4England]

I have a debt of £1,000, on which I'm paying £100 a month interest. I have assets of £500 and no net income. Do I :

a) continue to pay the interest for the next five months by selling off my assets and then go belly up?
b) declare myself bankrupt, go into admin, lose both my assets and my debt?
c) go out with Enoch and pull a woman of a "certain age" who has substantial assets and who will see me reet?

You decide.

I don't fancy yer chances on c).

[TonyDomingos]

I have a debt of £1,000, on which I'm paying £100 a month interest. I have assets of £500 and no net income. Do I :

a) continue to pay the interest for the next five months by selling off my assets and then go belly up?
b) declare myself bankrupt, go into admin, lose both my assets and my debt?
c) go out with Enoch and pull a woman of a "certain age" who has substantial assets and who will see me reet?

You decide.

I don't fancy yer chances on c).

Enoch Madine, Pulling Machine.

[Enoch]

I have a debt of £1,000, on which I'm paying £100 a month interest. I have assets of £500 and no net income. Do I :

a) continue to pay the interest for the next five months by selling off my assets and then go belly up?
b) declare myself bankrupt, go into admin, lose both my assets and my debt?
c) go out with Enoch and pull a woman of a "certain age" who has substantial assets and who will see me reet?

You decide.

I don't fancy yer chances on c).

Enoch Madine, Pulling Machine.

Get your glad rags on Domingos, this is your lucky day!

[boltonboris]

Orbit have bought the offices I believe.. This is the Peter Emerson Jones lot who is supposedly part of the consortium.

I'm sure that's positive and hopefully this will go towards this downpayment to purchase the club.

I could well be wrong

[bobo the clown]

Orbit have bought the offices I believe.. This is the Peter Emerson Jones lot who is supposedly part of the consortium.

I'm sure that's positive and hopefully this will go towards this downpayment to purchase the club.

I could well be wrong

If that is who's bought it then I'd read that very positively.

[Hoboh]

Orbit have bought the offices I believe.. This is the Peter Emerson Jones lot who is supposedly part of the consortium.

I'm sure that's positive and hopefully this will go towards this downpayment to purchase the club.

I could well be wrong

If that is who's bought it then I'd read that very positively.

And my ramblings perhaps not so far fetched?

[Peter Thompson]

Orbit have bought the offices I believe.. This is the Peter Emerson Jones lot who is supposedly part of the consortium.

I'm sure that's positive and hopefully this will go towards this downpayment to purchase the club.

I could well be wrong

This is who I was told is currently going through the due dil process - it makes sense if this is who has bought the offices and like I said in my post yesterday, its like they are paying a deposit to keep the club going whilst the takeover goes through as it will all be there's anyway and they already own the rest of the middlebrook.

[Loyal White]

In the simplest possible terms, selling things off now doesn't make a difference to administration.

Like you've mentioned previously, what we're doing now is an attempt to keep the club going long enough to allow a buyer to come in whilst trying to maintain some sort of continuity.

If the takeover fails, there is less to sell, so those with monies owed may lose out a little from what they would take away now, but if administration happens we don't have £200m worth of assets, so everything is getting sold, whether it is now or in a months time.

That's as I understand it anyway.

In admin you don't pay off the entire debt. The administrators negotiate with creditors to agree a percentage repayment, usually very low and then the rest of the debt is written off. For example if I remember Portsmouth owed HMRC 10M or so but in admin they paid about a hundred thousand of that. Or thereabouts.

Now given Eddie is the major creditor and prepared to clear his debt we are talking about the HMRC amount, the nucleus loan and Warburton's loan. That we know of.

Let's say 30M. And we'd pay a fraction of that most likely. Of course that is the absolute best are scenario if agreement can be reached. But there is no way we are paying the full debt back whatever happens.

If we go into admin now, everything is getting sold which we can make money on. That includes players, assets etc. in order to give our creditors as much money as possible. It is the administrators job to get the creditors the maximum return which is possible - likely only a fraction of our debt admitedly.

If we don't go into admin, hopefully someone buys us without having to sell off everything we can make money on.

If we have to go into admin next week/month/year then it doesn't matter that we've sold Peter to pay Paul, everything which can be sold is getting sold anyway.

In admin we don't chose what is sold. At present we can try and have some (small) control.

[Bruce Rioja]

Orbit have bought the offices I believe..

[bobo the clown]

In the simplest possible terms, selling things off now doesn't make a difference to administration.

Like you've mentioned previously, what we're doing now is an attempt to keep the club going long enough to allow a buyer to come in whilst trying to maintain some sort of continuity.

If the takeover fails, there is less to sell, so those with monies owed may lose out a little from what they would take away now, but if administration happens we don't have £200m worth of assets, so everything is getting sold, whether it is now or in a months time.

That's as I understand it anyway.

In admin you don't pay off the entire debt. The administrators negotiate with creditors to agree a percentage repayment, usually very low and then the rest of the debt is written off. For example if I remember Portsmouth owed HMRC 10M or so but in admin they paid about a hundred thousand of that. Or thereabouts.

Now given Eddie is the major creditor and prepared to clear his debt we are talking about the HMRC amount, the nucleus loan and Warburton's loan. That we know of.

Let's say 30M. And we'd pay a fraction of that most likely. Of course that is the absolute best are scenario if agreement can be reached. But there is no way we are paying the full debt back whatever happens.

If we go into admin now, everything is getting sold which we can make money on. That includes players, assets etc. in order to give our creditors as much money as possible. It is the administrators job to get the creditors the maximum return which is possible - likely only a fraction of our debt admitedly.

If we don't go into admin, hopefully someone buys us without having to sell off everything we can make money on.

If we have to go into admin next week/month/year then it doesn't matter that we've sold Peter to pay Paul, everything which can be sold is getting sold anyway.

In admin we don't chose what is sold. At present we can try and have some (small) control.

^^^^^ aaaaah. Bobo breathes a huge sigh of relief. Someone actually "gets it".

There is a huge falacily about Administration, that it's a terrific wheeze where we suddenly magic our debts away. Like having the ultimate trump card.

It's a long way from that EVEN IF there wasn't the huge overlap between who owns the assets and who owns the debt. ED would have to be 'Cut-my-own-throat' Dibbler's less successful brother to do that to himself.

Clearly there are debts to players, clubs, the tax-man, Mr. Orbit and the Warby's too. That's before we come to the more mundane, but potentially tragic, smaller running debts to small local businesses and wages to ordinary staff (not to mention redundancies).

There is no easy way out.

[LeverEnd]

In the simplest possible terms, selling things off now doesn't make a difference to administration.

Like you've mentioned previously, what we're doing now is an attempt to keep the club going long enough to allow a buyer to come in whilst trying to maintain some sort of continuity.

If the takeover fails, there is less to sell, so those with monies owed may lose out a little from what they would take away now, but if administration happens we don't have £200m worth of assets, so everything is getting sold, whether it is now or in a months time.

That's as I understand it anyway.

In admin you don't pay off the entire debt. The administrators negotiate with creditors to agree a percentage repayment, usually very low and then the rest of the debt is written off. For example if I remember Portsmouth owed HMRC 10M or so but in admin they paid about a hundred thousand of that. Or thereabouts.

Now given Eddie is the major creditor and prepared to clear his debt we are talking about the HMRC amount, the nucleus loan and Warburton's loan. That we know of.

Let's say 30M. And we'd pay a fraction of that most likely. Of course that is the absolute best are scenario if agreement can be reached. But there is no way we are paying the full debt back whatever happens.

If we go into admin now, everything is getting sold which we can make money on. That includes players, assets etc. in order to give our creditors as much money as possible. It is the administrators job to get the creditors the maximum return which is possible - likely only a fraction of our debt admitedly.

If we don't go into admin, hopefully someone buys us without having to sell off everything we can make money on.

If we have to go into admin next week/month/year then it doesn't matter that we've sold Peter to pay Paul, everything which can be sold is getting sold anyway.

In admin we don't chose what is sold. At present we can try and have some (small) control.

^^^^^ aaaaah. Bobo breathes a huge sigh of relief. Someone actually "gets it".

There is a huge falacily about Administration, that it's a terrific wheeze where we suddenly magic our debts away. Like having the ultimate trump card.

It's a long way from that EVEN IF there wasn't the huge overlap between who owns the assets and who owns the debt. ED would have to be 'Cut-my-own-throat' Dibbler's less successful brother to do that to himself.

Clearly there are debts to players, clubs, the tax-man, Mr. Orbit and the Warby's too. That's before we come to the more mundane, but potentially tragic, smaller running debts to small local businesses and wages to ordinary staff (not to mention redundancies).

There is no easy way out.

There's no shortcut home.

[Enoch]

There is no easy way out.

There's no shortcut home.

Hi Bob!

[LeverEnd]

There is no easy way out.

There's no shortcut home.

Hi Bob!

[Lost Leopard Spot]

Have we been bought yet?

[LeverEnd]

Have we been bought yet?

Nope. Hence the need to invoke obscure 80s rock stars of a certain age.

[Little Green Man]

Have we been bought yet?

Nope. Hence the need to invoke obscure 80s rock stars of a certain age.

In that case who better?

[Bruce Rioja]

I remember Portsmouth owed HMRC 10M or so but in admin they paid about a hundred thousand of that. Or thereabouts.

You've reminded me of those other rats that appeared on deck as Portsmouth's boat was sinking into the Solent. Sol Campbell claiming his £1M in fecking image rights, Tal Ben Haim hanging on for his full £36K a week wages whilst the local Newsagent was going to the wall because the club hadn't payed its paper bill.
I guess that if it does come to that then we'll discover that we have one or two selfish nice people as well.

And before any of the usual crowd bring it up - yes, I do vote Conservative, but I also have a conscience!