bwfcfan5 Posted June 27, 2019 Share Posted June 27, 2019 4 minutes ago, gonzo said: I’m hearing its dead. Off two sources. Fuck my life I hope it’s bollocks. With Connell at Celtic - does that indicate administrators trying to raise short term cash to keep business afloat? Surely they'd leave it to new owners if they were at all imminent. Unless there is something we don't know about - perhaps he's exercised his rights to walk out? Link to comment Share on other sites More sharing options...
Leyther_Matt Posted June 27, 2019 Share Posted June 27, 2019 6 minutes ago, gonzo said: I’m hearing its dead. Off two sources. Fuck my life I hope it’s bollocks. Iles and Nixon, hopefully Link to comment Share on other sites More sharing options...
Leyther_Matt Posted June 27, 2019 Share Posted June 27, 2019 Just now, bwfcfan5 said: With Connell at Celtic - does that indicate administrators trying to raise short term cash to keep business afloat? Surely they'd leave it to new owners if they were at all imminent. Unless there is something we don't know about - perhaps he's exercised his rights to walk out? Doubt it. We’d get more cash from a whip round on here than we will from a second year scholar moving to a different country. Link to comment Share on other sites More sharing options...
Marc505 Posted June 27, 2019 Share Posted June 27, 2019 Our options if it is dead? Can administrators go to whichever bid finished "second" and say hey fancy another go, or is that it? Link to comment Share on other sites More sharing options...
bwfcfan5 Posted June 27, 2019 Share Posted June 27, 2019 Just now, Leyther_Matt said: Doubt it. We’d get more cash from a whip round on here than we will from a second year scholar moving to a different country. But wouldn't admins just wait to agree any deal for new ownership? Link to comment Share on other sites More sharing options...
birch-chorley Posted June 27, 2019 Share Posted June 27, 2019 If it really is a delay, or even worse, starting again from scratch (move to the next bidder) then surely the administrators have a duty to run the business? I.e Start selling season tickets, give the manager a budget to sign players so we can get a side out next month If other football administrations have taken months and months then surely in those circumstances the administrator had to run the business rather than let it collapse, as that’s not in anyone’s interest either Link to comment Share on other sites More sharing options...
Leyther_Matt Posted June 27, 2019 Share Posted June 27, 2019 2 minutes ago, bwfcfan5 said: But wouldn't admins just wait to agree any deal for new ownership? Being on a scholarship he’s essentially out of contract so there’s no need that needs to be done as far as Celtic are concerned. At best it would go to a tribunal but because he’s moving outside of England we wouldn’t be entitled to the same compensation as normally would be the case. Link to comment Share on other sites More sharing options...
bwfcfan5 Posted June 27, 2019 Share Posted June 27, 2019 1 minute ago, birch-chorley said: If it really is a delay, or even worse, starting again from scratch (move to the next bidder) then surely the administrators have a duty to run the business? I.e Start selling season tickets, give the manager a budget to sign players so we can get a side out next month If other football administrations have taken months and months then surely in those circumstances the administrator had to run the business rather than let it collapse, as that’s not in anyone’s interest either IF the deal is dead. They have to decide whether it is viable to run the business which essentially means are there enough sellable assets to fund business as usual. Or whether they need to start liquidation proceedings. I would not rule out the latter if they felt the other bids were not suitable. I've heard there isn't enough cash to run the business like other administrations have been and not many assets that can be realised - I'd be very very worried if FV have genuinely pulled out. Link to comment Share on other sites More sharing options...
Leyther_Matt Posted June 27, 2019 Share Posted June 27, 2019 2 minutes ago, birch-chorley said: If it really is a delay, or even worse, starting again from scratch (move to the next bidder) then surely the administrators have a duty to run the business? I.e Start selling season tickets, give the manager a budget to sign players so we can get a side out next month If other football administrations have taken months and months then surely in those circumstances the administrator had to run the business rather than let it collapse, as that’s not in anyone’s interest either Season ticket issue is a tricky one as I’m pretty sure that the administrators aren’t allowed to sell them without a guarantee that they could be honoured for the full term. Link to comment Share on other sites More sharing options...
bwfcfan5 Posted June 27, 2019 Share Posted June 27, 2019 1 minute ago, Leyther_Matt said: Season ticket issue is a tricky one as I’m pretty sure that the administrators aren’t allowed to sell them without a guarantee that they could be honoured for the full term. I think the issue is they cannot sell them if the business is not considered to be able to operate solvently. They could sell them if they felt they could run it for a period without outside investment. And that is the worrying thing - not selling them suggests we might not exist should the sale fall through. Link to comment Share on other sites More sharing options...
Damocles Posted June 27, 2019 Share Posted June 27, 2019 4 minutes ago, bwfcfan5 said: IF the deal is dead. They have to decide whether it is viable to run the business which essentially means are there enough sellable assets to fund business as usual. Or whether they need to start liquidation proceedings. I would not rule out the latter if they felt the other bids were not suitable. I've heard there isn't enough cash to run the business like other administrations have been and not many assets that can be realised - I'd be very very worried if FV have genuinely pulled out. The FV deal is dead, but that does not mean that other bidders can’t be brought back, or new bidders considered. Sluffy et al are convinced there were other bidders, let’s hope so..... FWIW, Kuyt is backed by some decent people. Link to comment Share on other sites More sharing options...
Leyther_Matt Posted June 27, 2019 Share Posted June 27, 2019 3 minutes ago, bwfcfan5 said: I think the issue is they cannot sell them if the business is not considered to be able to operate solvently. They could sell them if they felt they could run it for a period without outside investment. And that is the worrying thing - not selling them suggests we might not exist should the sale fall through. They also cannot sell them if the new buyer doesn’t guarantee to honour them. Although we’re a stage in front so not an identical situation, Bradford RL in the relatively recent past were selling season tickets under a previous owner with the administrators initially saying that these weren’t to be honoured and the money was lost and fans would have to pay again. New owners eventually took over and honoured what supporters had paid but took a decent loss at the same time as they didn’t get the original income. Link to comment Share on other sites More sharing options...
bwfcfan5 Posted June 27, 2019 Share Posted June 27, 2019 5 minutes ago, Damocles said: The FV deal is dead, but that does not mean that other bidders can’t be brought back, or new bidders considered. Sluffy et al are convinced there were other bidders, let’s hope so..... FWIW, Kuyt is backed by some decent people. There is not time for a new group to get the various approvals and agreement of the various secured creditors now - there would be if the admins were running the club on an ongoing basis. But we have no season tickets on sale, will not have numbers to complete fixtures and are unable still to pay the small group of players we have left - who surely will hand their notice in if things are not settled by next week. The brutal reality is that unless there is a bid that has all the EFL clearances, all the creditor relationships and agreements in place and can complete next week - then that is probably that - unless administrators raise enough cash to get us into the season. If FV need another week but there is confidence then that would probably be ok. But someone behind in the process - I just do not think there is time. Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted June 27, 2019 Site Supporter Share Posted June 27, 2019 10 minutes ago, Damocles said: The FV deal is dead, but that does not mean that other bidders can’t be brought back, or new bidders considered. Sluffy et al are convinced there were other bidders, let’s hope so..... FWIW, Kuyt is backed by some decent people. Do you work in PR? Link to comment Share on other sites More sharing options...
Site Supporter Spider Posted June 27, 2019 Site Supporter Share Posted June 27, 2019 Our wage bill must be similar to a fruit and veg stall by now? Link to comment Share on other sites More sharing options...
bwfcfan5 Posted June 27, 2019 Share Posted June 27, 2019 Just now, Spider said: Our wage bill must be similar to a fruit and veg stall by now? We're still paying the staff weekly. And income must be incredibly low - like thousands of pounds a week at best.... Link to comment Share on other sites More sharing options...
Site Supporter Spider Posted June 27, 2019 Site Supporter Share Posted June 27, 2019 Taking the pessimistic view (and assuming FV have pulled out) We're a bit fucked. There is clearly something horrible hiding in the guts of the finances. But let's see. Link to comment Share on other sites More sharing options...
Rizlar Posted June 27, 2019 Share Posted June 27, 2019 Who says FV have pulled out ? Link to comment Share on other sites More sharing options...
Leyther_Matt Posted June 27, 2019 Share Posted June 27, 2019 5 minutes ago, bwfcfan5 said: We're still paying the staff weekly. And income must be incredibly low - like thousands of pounds a week at best.... Presumably the hotel income goes to their particular administrators rather than the club, so that leaves us with £120 a week from the club shop and any instalments of TV money (which may or may not have already been paid out). Link to comment Share on other sites More sharing options...
radcliffe white Posted June 27, 2019 Share Posted June 27, 2019 2 minutes ago, Rizlar said: Who says FV have pulled out ? Thought that myself people getting giddy again Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted June 27, 2019 Site Supporter Share Posted June 27, 2019 3 minutes ago, Rizlar said: Who says FV have pulled out ? Gonzo. Miami put him up to it...😃 Link to comment Share on other sites More sharing options...
Mantra Posted June 27, 2019 Share Posted June 27, 2019 I don’t get why FV would waste so much time and money to let it fall through at this stage. Link to comment Share on other sites More sharing options...
bwfcfan5 Posted June 27, 2019 Share Posted June 27, 2019 2 minutes ago, Mantra said: I don’t get why FV would waste so much time and money to let it fall through at this stage. Because perhaps the reality is it will cost them more than they expected...perhaps creditors are being greedy...perhaps something internal to FV has changed... There are loads of reasons. The thing is they've been "days away from buying" twice now and haven't actually done it..... Link to comment Share on other sites More sharing options...
Matthew1234 Posted June 27, 2019 Share Posted June 27, 2019 Can we not just wait for the official statement before speculating? Doesn't do any of us a world of good worrying that the deal is on or off. All we can do is keep hoping something pulls off. Link to comment Share on other sites More sharing options...
Mantra Posted June 27, 2019 Share Posted June 27, 2019 2 minutes ago, bwfcfan5 said: Because perhaps the reality is it will cost them more than they expected...perhaps creditors are being greedy...perhaps something internal to FV has changed... There are loads of reasons. The thing is they've been "days away from buying" twice now and haven't actually done it..... No doubt there’s plenty of reasons things can go wrong but I would’ve thought with them being in the race since December they’d understand what they would be taking on, even if something untoward happened. See what the statement says before Damocles’ assertion can be taken seriously. Link to comment Share on other sites More sharing options...
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