awandering Posted May 7, 2019 Share Posted May 7, 2019 2 hours ago, leadfrog1 said: If Bassini is borrowing the money I'd put money on us being back in this same situation in 2/3 years time still stuck to the foot of the championship or in league 1. This actually sounds preferable to some of the other scenarios being mentioned. Bottom of the Championship in 2 or 3 years seems very unlikely with any new owners. Link to comment Share on other sites More sharing options...
Wanderlust Posted May 7, 2019 Share Posted May 7, 2019 7 minutes ago, Howardroark said: It doesn’t really, but it helps KA and Bassini I think this scramble to do a deal with Bassini is perhaps driven by Anderson - wouldn’t he personally benefit if it came off? Link to comment Share on other sites More sharing options...
Tommy Banks Posted May 7, 2019 Share Posted May 7, 2019 Sounds like more shenanigans Link to comment Share on other sites More sharing options...
Sweep Posted May 7, 2019 Share Posted May 7, 2019 2 hours ago, burnden said: Why do they need to crowdfund? I thought they had 60k+ in their (the st members account) already? The page has raised 3.5k raised so far though https://www.justgiving.com/crowdfunding/bwfc-supporterstrust up at £5K5 now I'm always a little skeptical about these things to be honest, what happens to the money if it's not actually needed - does it just go into the ST funds, or does get returned to those who have coughed up? With some of the numbers being bandied about, I'd have thought that £25K wouldn't even scratch the surface of anything would it? Link to comment Share on other sites More sharing options...
Howardroark Posted May 7, 2019 Share Posted May 7, 2019 9 minutes ago, Hoppy510 said: I think this scramble to do a deal with Bassini is perhaps driven by Anderson - wouldn’t he personally benefit if it came off? KA only benefits from a solvent sale if his terms are agreed to and that’s now unlikely. Moonshift benefit from a solvent sale as they get the £5M back plus whatever percentage they agree on the unsecured debts. KA benefits to the tune of £5M if Moonshift trigger admin. Moonshift immediately lose £5M by triggering admin. The 10 days gained by announcing the intention to appoint administrators is simply to give another party time to provide either KA or Moonshift with an offer that compensates them for triggering administration. Bassini can’t make that offer because neither party believes he has the funds. Link to comment Share on other sites More sharing options...
Mounts Kipper Posted May 7, 2019 Share Posted May 7, 2019 15 minutes ago, Sweep said: up at £5K5 now I'm always a little skeptical about these things to be honest, what happens to the money if it's not actually needed - does it just go into the ST funds, or does get returned to those who have coughed up? With some of the numbers being bandied about, I'd have thought that £25K wouldn't even scratch the surface of anything would it? At least the Trust are trying, cannot knock them for that. Better that than fans sitting on hands or just slagging the Trust off for doing fuck all while doing full all themselves. Link to comment Share on other sites More sharing options...
Guest Posted May 7, 2019 Share Posted May 7, 2019 41 minutes ago, Spider said: Going to be a long summer. Hope it’s as nice as last year Link to comment Share on other sites More sharing options...
ProfessorWoland Posted May 7, 2019 Share Posted May 7, 2019 1 hour ago, Howardroark said: From what I hear there won’t be administration tomorrow, but will probably be something called a ‘notice of intent to appoint administrators’. This would suspend the court action for 10 days without triggering administration https://www.begbies-traynorgroup.com/articles/insolvency/what-is-a-notice-of-intent If there was a trophy for kicking the can down the road I think it would already be in the bag. Link to comment Share on other sites More sharing options...
Site Supporter HomerJay Posted May 7, 2019 Site Supporter Share Posted May 7, 2019 Just now, Mounts Kipper said: At least the Trust are trying, cannot knock them for that. Better that than fans sitting on hands or just slagging the Trust off for doing fuck all while doing full all themselves. what are they trying? Ive not seen any plan, progress or result of ANYTHING. Yet they have taken a significant amount of money from "members" Link to comment Share on other sites More sharing options...
birch-chorley Posted May 7, 2019 Share Posted May 7, 2019 (edited) Aye, I’ve not been a critic of the supports trust as many on here have been, but I would like to see the game plan This sort of event (administration) has been on the cards as long as they have been going, this is in effect what they have been waiting for. Its their time to step up and make a difference clearly they are going to need to raise circa £25m to keep us going in League 1, otherwise it’s a Phoenix job in non league What’s the plan to raise this sort of money and what do they need from the rest of the fan base? I’ll happily get behind them and Chuck a small amount of the plan looks viable Edited May 7, 2019 by birch-chorley Link to comment Share on other sites More sharing options...
leadfrog1 Posted May 7, 2019 Share Posted May 7, 2019 5 minutes ago, HomerJay said: what are they trying? Ive not seen any plan, progress or result of ANYTHING. Yet they have taken a significant amount of money from "members" Exactly it's way too nebulous atm Link to comment Share on other sites More sharing options...
MalcolmW Posted May 7, 2019 Share Posted May 7, 2019 16 minutes ago, ProfessorWoland said: If there was a trophy for kicking the can down the road I think it would already be in the bag. not till the end of May. Link to comment Share on other sites More sharing options...
Sluffy Posted May 7, 2019 Share Posted May 7, 2019 32 minutes ago, Mounts Kipper said: At least the Trust are trying, cannot knock them for that. Better that than fans sitting on hands or just slagging the Trust off for doing fuck all while doing full all themselves. I know your views of me but serious question what exactly is the £25k fighting fund for? The ST state it is for three things, "This fund will cover legal costs, contribute to any shortfalls in funding an administration and to cover costs that will undoubtedly be incurred in making representation to the EFL in the event that they look to impose any unfair penalties as a result of recent events". https://www.justgiving.com/crowdfunding/bwfc-supporterstrust Legal costs I can understand but funding Admin is nonsensical with just £25k (Rigby the ST Chair himself set it would be £750k excluding wages (approx. a further £600k)) and for them to be fighting the EFL for next season presumably infers they have taken control of the club by that time, as that would be primarily what the new owners would be seeking? I could understand the ST seeking a fighting fund to buy the club but they expressly exclude that is what the fund is for (see Iles article of today on this subject) the ST's they are going to get their high net worths and their future share issue to buy it for them instead. I would like to stress I'm not having a pop at the ST but merely trying to understand what they require the money for because the reasons stated don't make much sense at all to me. Link to comment Share on other sites More sharing options...
waffer cup 07 Posted May 7, 2019 Share Posted May 7, 2019 Definitely ST need to put meat on the bones of their random plan. After years of inactivity. Link to comment Share on other sites More sharing options...
Offshore Posted May 7, 2019 Share Posted May 7, 2019 2 hours ago, kobeer said: Apologies, I didn't explain myself very well. I wasn't suggesting sitting in front of a computer is difficult or hard work. My point is that's it's pretty boring! I was trying to suggest that whilst most people wouldn't turn in to work if not paid, be it an office job or a heavy manual job, playing football is something many of us do / did for fun and paid for the privilege. Consequentially, asking the players to play a couple of games of football (for the fans benefit), in my view, is different than expecting people in many other types of work carrying on unpaid. nay worries fella. Work is work at the end of the day & we're all trying to earn a crust. Truth be told, I've never hewed coal either............. Link to comment Share on other sites More sharing options...
Youri McAnespie Posted May 7, 2019 Share Posted May 7, 2019 1 hour ago, Howardroark said: From what I hear there won’t be administration tomorrow, but will probably be something called a ‘notice of intent to appoint administrators’. This would suspend the court action for 10 days without triggering administration https://www.begbies-traynorgroup.com/articles/insolvency/what-is-a-notice-of-intent It was fuckin' obvious that that cunt was gonnae fuck some cunt. 1 hour ago, Howardroark said: It doesn’t really, but it helps KA and Bassini Link to comment Share on other sites More sharing options...
Mounts Kipper Posted May 7, 2019 Share Posted May 7, 2019 4 minutes ago, Sluffy said: I know your views of me but serious question what exactly is the £25k fighting fund for? The ST state it is for three things, "This fund will cover legal costs, contribute to any shortfalls in funding an administration and to cover costs that will undoubtedly be incurred in making representation to the EFL in the event that they look to impose any unfair penalties as a result of recent events". https://www.justgiving.com/crowdfunding/bwfc-supporterstrust Legal costs I can understand but funding Admin is nonsensical with just £25k (Rigby the ST Chair himself set it would be £750k excluding wages (approx. a further £600k)) and for them to be fighting the EFL for next season presumably infers they have taken control of the club by that time, as that would be primarily what the new owners would be seeking? I could understand the ST seeking a fighting fund to buy the club but they expressly exclude that is what the fund is for (see Iles article of today on this subject) the ST's they are going to get their high net worths and their future share issue to buy it for them instead. I would like to stress I'm not having a pop at the ST but merely trying to understand what they require the money for because the reasons stated don't make much sense at all to me. Perhaps you could ask them. Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted May 7, 2019 Site Supporter Share Posted May 7, 2019 They can have the money the club owes st holders for not playing the last game. Link to comment Share on other sites More sharing options...
Sluffy Posted May 7, 2019 Share Posted May 7, 2019 11 minutes ago, Mounts Kipper said: Perhaps you could ask them. If they want my money they'd need to explain it clearly and which could be understood by all everyone first, and not me or anybody else chasing them to find out what they meant. I also would not be depositing my money in the hands of a Board where at least one of them have had their knuckles rapped by their governing body for inappropriate dealings with other peoples money less than twelve months earlier! Would you? Link to comment Share on other sites More sharing options...
Site Supporter MickyD Posted May 7, 2019 Site Supporter Share Posted May 7, 2019 Mr Ken Anderson May 7, 2019 Sorry but this is all i can afford. Monaco has rinsed me.Apologies peasants x £2.00 Link to comment Share on other sites More sharing options...
Mounts Kipper Posted May 7, 2019 Share Posted May 7, 2019 5 minutes ago, Sluffy said: If they want my money they'd need to explain it clearly and which could be understood by all everyone first, and not me or anybody else chasing them to find out what they meant. I also would not be depositing my money in the hands of a Board where at least one of them have had their knuckles rapped by their governing body for inappropriate dealings with other peoples money less than twelve months earlier! Would you? As I suggested you should email them for clarity, regarding the second part of your question that’s a judgement for each and everyone to make. Link to comment Share on other sites More sharing options...
Howardroark Posted May 7, 2019 Share Posted May 7, 2019 What’s quite clear is that the ST have been offered a little sweetener. Seeing as they get ‘first dibs’ on a purchase from admin, it makes sense for an interested party to team up with them to get the jump on the other bidders. Probably offered them some cash and may a non-exec position, possibly a wig for Will Jones too. The funding will presumably be to pay their legal costs in drafting a new agreement. Although odd that they don’t have any solicitors within their ranks offering pro bono work. The club has the funds to support itself through a summer administration period. Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted May 7, 2019 Site Supporter Share Posted May 7, 2019 4 minutes ago, Howardroark said: What’s quite clear is that the ST have been offered a little sweetener. Seeing as they get ‘first dibs’ on a purchase from admin, it makes sense for an interested party to team up with them to get the jump on the other bidders. Probably offered them some cash and may a non-exec position, possibly a wig for Will Jones too. The funding will presumably be to pay their legal costs in drafting a new agreement. Although odd that they don’t have any solicitors within their ranks offering pro bono work. The club has the funds to support itself through a summer administration period. So the accounts become unfrozen in that situation? Link to comment Share on other sites More sharing options...
Wanderlust Posted May 7, 2019 Share Posted May 7, 2019 1 hour ago, Howardroark said: KA only benefits from a solvent sale if his terms are agreed to and that’s now unlikely. Moonshift benefit from a solvent sale as they get the £5M back plus whatever percentage they agree on the unsecured debts. KA benefits to the tune of £5M if Moonshift trigger admin. Moonshift immediately lose £5M by triggering admin. The 10 days gained by announcing the intention to appoint administrators is simply to give another party time to provide either KA or Moonshift with an offer that compensates them for triggering administration. So despite what's been previously written about calling in Anderson's debt/shares, doesn't that imply that Moonshift wouldn't be particularly incentivised to put us into admin barring a significant offer to buy including recompense and/or a road to Damascus twinge of conscience? - thereby leaving it to Anderson to sell to anyone he can as the more likely outcome? Link to comment Share on other sites More sharing options...
tomski Posted May 7, 2019 Share Posted May 7, 2019 14 minutes ago, MickyD said: Mr Ken Anderson May 7, 2019 Sorry but this is all i can afford. Monaco has rinsed me.Apologies peasants x £2.00 I stopped believing it was ken when he stumped up some money. Link to comment Share on other sites More sharing options...
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