Howardroark

I don’t know what value he added in the first place, still don’t know where the cash is coming from, especially if he is ‘out’.

There would still be a club, just a redevelopment of the car parks and probably more houses near training ground. Bassini won’t stand in KA’s way, he knows he doesn’t have the money, does he really want to be the guy who got BWFC liquidated without even owning them, even for him that’s impressive.

Moonshift are the client of Kier Gordon and are simply the commercial arm/investment vehicle of ED Trustees. They are one and the same. Taking back the shares and putting the club into admin costs them £5M immediately and puts them at risk of personal liability over some debts if KA has indulged in fraudulent trading (which he has technically done with both Doidge and the final season ticket payment).

I suspect fixed creditors will appoint fixed charge receivers to recoup their funds over the summer by sale of associated assets and then a buyer to take out of admin after that process has been completed.

Longer term admin is unlikely, administrators would simply wind down the business if an outright sale cannot be achieved.

The funds are there to fund short term admin

There aren’t any other than admin, but that still requires there to be a buyer with £23M cash plus £14M to satisfy EFL

BWFC per KA £5M, if Moonshift recall his shares then he doesn’t have to pay it back to them.

Exactly

He didn’t have the collateral to support the level of funding he desired.

Forget Bassini

Forget Bassini

Pre-pack is agreed with the administrators in advance. The above scenario require the waiving of the ST rights and creditor approval.

This is just about KA forcing Moonshift’s hand. Them forcing admin means the £5M ends up in his pocket because they’d have to recall his shares. KA can’t have liquidation though because he would almost certainly become personally liable for vast amounts of the unsecured debt, so my guess would be that if there’s truly no buyers in play with Moonshift then KA will propose admin to the court on Weds.

But I don’t think ED Trustees view the club as such.

Moonshift will require a watertight agreement with a buyer to put in to administration. That buyer will have to have done DD and be ready to acquire within 24 hours of administration. Without a guaranteed buyer there will not be an administration. That does only leave FV but unless they have new backing, they still can’t afford it.

Villa had saleable assets in players etc and no charges against fixed assets.

Some would argue that the debt accrued in that time provided fans with a decade of enjoyment beyond their wildest dreams, that this was a gift from one man cannot be overlooked.

ED wasn’t responsible for passing Dean Holdsworth and KA as ‘Fit & Proper’. I would also say that their ‘moral obligation’ was used when ED saved the club from the BluMarble fiasco. Enough is enough and they shouldn’t be held accountable if they choose not to act.

His delusion is the only reason that KA ended up with sole control of the club and frankly the reason why now the burden sits with ED Trustees again. It’s worse than the Villa miss.

Yes 100%, although a new generation of fans brought up on crowd investing and such like. There’s also a number of former players who benefited from the ‘glory days’ along with a certain S.Allardyce.

Ah, so we are relying on the insanity of others? I’m not having a go, I just don’t like that it comes down to ED trustees yet again, they thought they were rid two years ago. In my opinion the person who stands head and shoulders above any other in respect of the blame game is Dean Holdsworth.

Then people should be supporting the ST share option, put your money where your mouths are.

That’s like suggesting the Kardashian’s should be paying the bills of OJ Simpson’s ex wife..... The waiving of £70M-£150M ended any moral or legal obligation that the Davies family have to the club, they have done enough and they shouldn’t be made to feel that they haven’t if they choose not to act in a certain manner. This isn’t their mess.

With respect, this family has written off £70M- £150M of debt, it isn’t they who have been bending you over.