Jump to content
Wanderers Ways - passion not fashion
Kane57

Taken over?

Recommended Posts

6 hours ago, Benny The Ball said:

Just setting aside the cost of the club am surprised no one has mentioned this 

Surely the most interesting comment is the below  figure in the press release 

Mr Appleton said: "There has been substantial interest from the moment of our appointment on May 13. Over 30 parties have approached us and we will now begin the process of selecting those best positioned to make a serious offer for the club.

So  I will start 

( 1) Football Ventures ( AKA Basran ) 

(2)  Gaspard 

(3) Chinese Mob 

(4) Stelios and the Greeks 

(5) American consortium based in Boston

(6 ) Bassini 

( 7 ) A German Consortium 

(8) Cheshire group based in Knutsford 

(9 ) Supporters Trust 

(10 ) Howards mob 

(11 ) Another far eastern Group 

Right that's me done - thats all the rumours I have heard so who do we think the other 19 are ? 

 

 

 

dont forget that crazy wwe boss guy vince

 

 

 

Share this post


Link to post
Share on other sites
7 hours ago, Sluffy said:

The clubs in Administration. 

In order to get out of Administration it has to comply with EFL regulations.

That means they have to come to an agreement with their creditors (which I've tried to summarise above but failed miserably).

All footballing debts have to be cleared - that's about £3m, I assume any winders (and anyone who piggy backs on to them) needs to be cleared in full too - that's at least £1.2 to HMRC and £800k to Macron, so lets say that's another £2m.

I guess though that after paying those that if the other creditors both secured and unsecured are in agreement AND proof of funding is produced to show there is monies available to do that - then the club could still exit Admin - as a going concern - but still be in debt.

I would imagine though that most would be seeking their money though or asking for more than the minimum 25p in the £ from the unsecured creditors to agree to that though?

Either way the purchaser has to prove he's got the money to settle the debts now even if everybody agrees to defer settlement to later.

 

I also note that Iles is sticking to his guns that funding for the next two years is included in the £25m proof of funds.

Maybe Davies isn't a secured creditor, leaving James £5.5, KA £5m and Warburton £2.5m as the only significant ones - total £13m, around say £4m as unsecured and £3m football creditors, leaving around just £5m to fund two seasons short fall (losses) (and proving that they exist rather than as paying it to the Administrators as part of the purchase price? 

So £13m + £4m +  £3m + £5m = £25m.

Don't know really, just trying to make the sums add up?

What about the administrators fee? - he will be first to be paid

Unless theres a shed load of cash still in the clubs accounts

Share this post


Link to post
Share on other sites

Like @Benny The Ball said 30 interested parties is the key... looks like everyone has come back to the table now they don’t have to deal with KA.

£25m proof of funds - if you want the hotel as well doesn’t seem that much given it’s also proving you can run a club for 2 seasons... may not be enough to scare off the Bassini’s of the world. 

Also so seems like the administrators aren’t hanging around... didn’t expect anything like this for another week or so

 

Share this post


Link to post
Share on other sites
7 hours ago, Benny The Ball said:

Just setting aside the cost of the club am surprised no one has mentioned this 

Surely the most interesting comment is the below  figure in the press release 

Mr Appleton said: "There has been substantial interest from the moment of our appointment on May 13. Over 30 parties have approached us and we will now begin the process of selecting those best positioned to make a serious offer for the club.

So  I will start 

( 1) Football Ventures ( AKA Basran ) 

(2)  Gaspard 

(3) Chinese Mob 

(4) Stelios and the Greeks 

(5) American consortium based in Boston

(6 ) Bassini 

( 7 ) A German Consortium 

(8) Cheshire group based in Knutsford 

(9 ) Supporters Trust 

(10 ) Howards mob 

(11 ) Another far eastern Group 

Right that's me done - thats all the rumours I have heard so who do we think the other 19 are ? 

 

 

 

 

Shania Twain

Beckham

G Nev

Although I think the last 2 are ridiculous to be honest

Share this post


Link to post
Share on other sites
8 hours ago, Sluffy said:

The clubs in Administration. 

In order to get out of Administration it has to comply with EFL regulations.

That means they have to come to an agreement with their creditors (which I've tried to summarise above but failed miserably).

All footballing debts have to be cleared - that's about £3m, I assume any winders (and anyone who piggy backs on to them) needs to be cleared in full too - that's at least £1.2 to HMRC and £800k to Macron, so lets say that's another £2m.

I guess though that after paying those that if the other creditors both secured and unsecured are in agreement AND proof of funding is produced to show there is monies available to do that - then the club could still exit Admin - as a going concern - but still be in debt.

I would imagine though that most would be seeking their money though or asking for more than the minimum 25p in the £ from the unsecured creditors to agree to that though?

Either way the purchaser has to prove he's got the money to settle the debts now even if everybody agrees to defer settlement to later.

 

I also note that Iles is sticking to his guns that funding for the next two years is included in the £25m proof of funds.

Maybe Davies isn't a secured creditor, leaving James £5.5, KA £5m and Warburton £2.5m as the only significant ones - total £13m, around say £4m as unsecured and £3m football creditors, leaving around just £5m to fund two seasons short fall (losses) (and proving that they exist rather than as paying it to the Administrators as part of the purchase price? 

So £13m + £4m +  £3m + £5m = £25m.

Don't know really, just trying to make the sums add up?

 
One route I would be expecting the administrator to go down is with respect to the Brownfield site that the club owns at British Aerospace that adjoins the academy, its a plot of 4 or 5 acres. 
 
Housebuilders will be forming a queue to buy it and its worth up to £5 million 
 
By selling it separately - and realising £5 million he can pay Brett Warburton off , who has the charge on the land ( £2 million ) and leave substantial monies to cover his fees and put cash into the kitty towards paying off the creditors. 
 
It serves no purpose for the club going forward, its not used , and the club will not be impacted by its sale . 
 
In fact were it to be included as an asset within the sale of the football club I would expect any purchaser to do this , so it will most likely be sold separately and excluded from the assets of the football club 
 
I might be wrong - but it seems the obvious thing to do , and remember his job ( as administrator ) is to realise the best value for creditors .and this is an easy win situation for him and helps in a small way to get the sums to add up 
 
 
 

Share this post


Link to post
Share on other sites

Was n’t there a group of yanks with links to Stuart Holden mentioned at one point ? 

Share this post


Link to post
Share on other sites
37 minutes ago, Benny The Ball said:
 
One route I would be expecting the administrator to go down is with respect to the Brownfield site that the club owns at British Aerospace that adjoins the academy, its a plot of 4 or 5 acres. 
 
Housebuilders will be forming a queue to buy it and its worth up to £5 million 
 
By selling it separately - and realising £5 million he can pay Brett Warburton off , who has the charge on the land ( £2 million ) and leave substantial monies to cover his fees and put cash into the kitty towards paying off the creditors. 
 
It serves no purpose for the club going forward, its not used , and the club will not be impacted by its sale . 
 
In fact were it to be included as an asset within the sale of the football club I would expect any purchaser to do this , so it will most likely be sold separately and excluded from the assets of the football club 
 
I might be wrong - but it seems the obvious thing to do , and remember his job ( as administrator ) is to realise the best value for creditors .and this is an easy win situation for him and helps in a small way to get the sums to add up 
 
 
 

At the pace they are moving is there time to do that? 

Share this post


Link to post
Share on other sites

So whats the selection process for the administrator, biggest pockets or first past the post?  

Share this post


Link to post
Share on other sites
1 hour ago, Benny The Ball said:
 
One route I would be expecting the administrator to go down is with respect to the Brownfield site that the club owns at British Aerospace that adjoins the academy, its a plot of 4 or 5 acres. 
 
Housebuilders will be forming a queue to buy it and its worth up to £5 million 
 
By selling it separately - and realising £5 million he can pay Brett Warburton off , who has the charge on the land ( £2 million ) and leave substantial monies to cover his fees and put cash into the kitty towards paying off the creditors. 
 
It serves no purpose for the club going forward, its not used , and the club will not be impacted by its sale . 
 
In fact were it to be included as an asset within the sale of the football club I would expect any purchaser to do this , so it will most likely be sold separately and excluded from the assets of the football club 
 
I might be wrong - but it seems the obvious thing to do , and remember his job ( as administrator ) is to realise the best value for creditors .and this is an easy win situation for him and helps in a small way to get the sums to add up 
 
 
 

If there was an easy £5 million to be made selling land the club didn't need wouldn't Eddie or Ken already have done that?

 

Share this post


Link to post
Share on other sites
9 hours ago, Benny The Ball said:

Just setting aside the cost of the club am surprised no one has mentioned this 

Surely the most interesting comment is the below  figure in the press release 

Mr Appleton said: "There has been substantial interest from the moment of our appointment on May 13. Over 30 parties have approached us and we will now begin the process of selecting those best positioned to make a serious offer for the club.

So  I will start 

( 1) Football Ventures ( AKA Basran ) 

(2)  Gaspard 

(3) Chinese Mob 

(4) Stelios and the Greeks 

(5) American consortium based in Boston

(6 ) Bassini 

( 7 ) A German Consortium 

(8) Cheshire group based in Knutsford 

(9 ) Supporters Trust 

(10 ) Howards mob 

(11 ) Another far eastern Group 

Right that's me done - thats all the rumours I have heard so who do we think the other 19 are ? 

 

 

 

 

12) The gravy on fish consortium (currently under investigation for culinary crimes)

13) The Peoples front of pea wet and ,crispy bits (Doubts as to their funding mode)

14) Pot Parkinson incorporated (possible single issue protest group)

Share this post


Link to post
Share on other sites
24 minutes ago, Gaz Nt said:

Where's Howard gone?

Who cares?  Inboxing decent folk accusing that they are 'wife beaters' as well as other wild wide of the mark guesses makes his/her messages null and void in my eyes, theres banter and theres over stepping the line.  The facts are here now, 30 interested parties makes me feel a warm smug glow inside, bollocks to him/her.

Share this post


Link to post
Share on other sites
51 minutes ago, Roger_Dubuis said:

If there was an easy £5 million to be made selling land the club didn't need wouldn't Eddie or Ken already have done that?

 

Is a good question - dont have an answer , all I can say is that recently a lot of house building has gone on in the area - for example on the site of the Old British Aerospace Cricket Pitch - therefore as ex industrial land it  might have only recently been deemed suitable for housing by the council - which ups the value 

Share this post


Link to post
Share on other sites
2 hours ago, HR said:

So whats the selection process for the administrator, biggest pockets or first past the post?  

First past the post with the deepest pockets.

Share this post


Link to post
Share on other sites
3 hours ago, Ani said:

Was n’t there a group of yanks with links to Stuart Holden mentioned at one point ? 

There were two lots of Americans who allegedly expressed an interest. The first was Pittsburgh Penguins owner Ron Burkle who I heard tried to buy the club last year but found out that Anderson's figures were a work of fiction and he had issues with Anderson's demands and behaviour allegedly.

More recently there was that bloke Zigi whose surname I can't remember.

Pretty sure they've both moved on a while back.

Share this post


Link to post
Share on other sites
4 minutes ago, Hoppy510 said:

 

More recently there was that bloke Zigi whose surname I can't remember.

Pretty sure they've both moved on a while back.

Stardust? Still posts on here

Share this post


Link to post
Share on other sites
Posted (edited)
19 minutes ago, Hoppy510 said:

More recently there was that bloke Zigi whose surname I can't remember.

Stardust?

 

Edit* Just seen ive been beaten to it but don't know how to delete

Edited by Walshyt

Share this post


Link to post
Share on other sites
2 hours ago, Benny The Ball said:

Is a good question - dont have an answer , all I can say is that recently a lot of house building has gone on in the area - for example on the site of the Old British Aerospace Cricket Pitch - therefore as ex industrial land it  might have only recently been deemed suitable for housing by the council - which ups the value 

Could it be some of the creditors have a charge against land as security so selling it would pay that debt rather than into Ken’s pocket ? 

Share this post


Link to post
Share on other sites
2 hours ago, Happy Wanderer said:

First past the post with the deepest pockets.

Neither. They have a responsibility to go for the bid they consider in the club's best interests. 

Share this post


Link to post
Share on other sites
3 minutes ago, Kane57 said:

Neither. They have a responsibility to go for the bid they consider in the club's best interests. 

Not true. They also have to represent creditor interests. Its a balance between keeping business alive and maximising return for creditors. Very hard for them not to take the best financial offer. Probably impossible (assuming that offer also satisfies EFL rules etc). 

Share this post


Link to post
Share on other sites
Posted (edited)

Can anyone clarify the three weeks/21 days thing. Is it 21 days for the Supporters Trust to sort out their bid? In which case they’ve already had 10 days since the administrators were appointed on 13 May.

Or is it 21 days that the club has to be on the market? In which case that started yesterday/today?

Or is it both?

Sorry, I’m sure it’s been explained before but I’m a bit confused about this.

Also, hypothetically - say the sale price is too much for any bidder, could we exit administration by someone paying less than 25p in the pound to unsecured creditors and/or less than 100% to secured creditors, but take a further points deduction to “justify” it, or if we can’t fulfill those requirements would we just be liquidated?

Edited by Mantra

Share this post


Link to post
Share on other sites
5 hours ago, ProfessorWoland said:

12) The gravy on fish consortium (currently under investigation for culinary crimes)

13) The Peoples front of pea wet and ,crispy bits (Doubts as to their funding mode)

14) Pot Parkinson incorporated (possible single issue protest group)

Robert de Niro/Sylvester Stallone/Warburton's/AO consortium.

Gregg's

Patak's

Kevin Davies

Jim Ratcliffe

Lord Lucan.

 

 

Share this post


Link to post
Share on other sites

Howard may be back soon, could be behind a leading group and maybe here to discredit all the other bidders, who will have signed a NDA. 

So we wouldn't know if she would be telling the truth or not.

Share this post


Link to post
Share on other sites
10 minutes ago, lowcarbon said:

Howard may be back soon, could be behind a leading group and maybe here to discredit all the other bidders, who will have signed a NDA. 

So we wouldn't know if she would be telling the truth or not.

Howard’s banned from posting on the forum. 

He sent me a message 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.