Guest Posted July 5, 2019 Posted July 5, 2019 11 minutes ago, DLH said: But is he? 12 month rolling contract isn’t it? You’d still need to trigger the extension wouldn’t you? have we done that? It’s been described by Iles as a contract that is simply ongoing and to terminate is twelve months pay. Whether that is right or not who knows. But doesn’t sound or appear that it is a case of extending it. Just seems to roll on.
Blondi Posted July 5, 2019 Posted July 5, 2019 Say a club come knocking for Parky now (doubtful I know) and he wants to leave, does that mean he can go and we don't have to pay him anything?
lowcarbon Posted July 5, 2019 Posted July 5, 2019 (edited) We should get some compo from who ever takes Parky and his team but could possibly be waived in our case. Just like we would have to pay compo to whichever team we take a replacement manager from. Plus we still owe him wages, which again could possibly be negotiated between Parky and Bolton Edited July 5, 2019 by lowcarbon .
Mounts Kipper Posted July 5, 2019 Posted July 5, 2019 Another week gone and no conclusion to this sorry saga.
masi 51 Posted July 5, 2019 Posted July 5, 2019 12 month rolling contract between him and Anderson. Do not know how this stands under Tupe..
Guest Posted July 5, 2019 Posted July 5, 2019 51 minutes ago, Blondi said: Say a club come knocking for Parky now (doubtful I know) and he wants to leave, does that mean he can go and we don't have to pay him anything? We’d obviously want appropriate compensation
Mounts Kipper Posted July 5, 2019 Posted July 5, 2019 Nixon intimating there are bidders waiting in the wings should fv not close the deal, not sure we’re at the end of this saga.
Mantra Posted July 5, 2019 Posted July 5, 2019 36 minutes ago, Mounts Kipper said: Nixon intimating there are bidders waiting in the wings should fv not close the deal, not sure we’re at the end of this saga. Can’t see any more twists coming now. Just delays.
RatchetMan Posted July 5, 2019 Posted July 5, 2019 It really is getting beyond a joke now all this. I’ve had enough
leadfrog1 Posted July 5, 2019 Posted July 5, 2019 12 minutes ago, RatchetMan said: It really is getting beyond a joke now all this. I’ve had enough To be honest what's more worrying for me is the members of the FV consortium don't seem wealthy enough to be owning a football club especially one with ambitions above league one. Could FV be a vehicle for an undisclosed high net worth individual as yet undisclosed? Probably a long shot. Last thing we want is to be here in 2/3 years time in the same situation.
ZiggyStardust Posted July 5, 2019 Posted July 5, 2019 There would be a certain irony if, after all this time, the ones with the biggest bid turned out to have insufficient funds, even to buy through the reduced terms of administration. Tyre kickers indeed.
Guest Posted July 5, 2019 Posted July 5, 2019 3 minutes ago, ZiggyStardust said: There would be a certain irony if, after all this time, the ones with the biggest bid turned out to have insufficient funds, even to buy through the reduced terms of administration. Tyre kickers indeed. Somehow think were that the case they would not be meeting with the manager today. Given they aren’t attention seeking publicity hungry types...
lowcarbon Posted July 5, 2019 Posted July 5, 2019 If they have shown proof of funds to buy the club, and run it for 2 years, how can they have insufficient funds? I can understand them trying to do different deals with the different creditors, maybe to save some money to put into the club, rather than the creditors, hence taking time for the SPA to be signed.
RatchetMan Posted July 5, 2019 Posted July 5, 2019 FV are either extremely professional or they enjoy pissing about. I understand selling a football club takes time but they confirmed their intent to buy our club many months ago, this is the second time they’ve agreed heads of terms documents IIRC? what more now needs to be looked at, it should have been done by now imo
darrener Posted July 5, 2019 Posted July 5, 2019 1 minute ago, RatchetMan said: FV are either extremely professional or they enjoy pissing about. I understand selling a football club takes time but they confirmed their intent to buy our club many months ago, this is the second time they’ve agreed heads of terms documents IIRC? what more now needs to be looked at, it should have been done by now imo They've got sod all money, wouldn't surprise me if they pulled out again. Getting to the point now were I don't give one anymore.
Matthew1234 Posted July 5, 2019 Posted July 5, 2019 I think if there's one thing about Nixon in this takeover process since admin, it's that he hasn't really had a clue what's really going on. They wouldn't be meeting Parkinson in public if they weren't confident of closing this thing. They probably wouldn't be meeting him at all. Let's just be patient and wait for them to complete. The wheels are in motion, pre season games being sorted. Matter of time now for this saga to be over and we can get back to talking about football.
burnden Posted July 5, 2019 Posted July 5, 2019 FV sorted the hotel ? https://beta.companieshouse.gov.uk/company/12086161/officers
Guest Posted July 5, 2019 Posted July 5, 2019 3 minutes ago, burnden said: FV sorted the hotel ? https://beta.companieshouse.gov.uk/company/12086161/officers That will be the vehicle through which they will bid for it.
Guest Posted July 5, 2019 Posted July 5, 2019 52 minutes ago, darrener said: They've got sod all money, wouldn't surprise me if they pulled out again. Getting to the point now were I don't give one anymore. How on earth does anyone know how much money they have or haven’t got? Worse than twitter this. Give em a chance. These are complex deals. And if they come in and stabilise us I think everyone will take that. Pay bills on time. Let us focus on football. That’ll do.
Sluffy Posted July 5, 2019 Posted July 5, 2019 4 hours ago, DLH said: But is he? 12 month rolling contract isn’t it? You’d still need to trigger the extension wouldn’t you? have we done that? No it is a ROLLING contract. https://dictionary.cambridge.org/dictionary/english/rolling-contract
Marc505 Posted July 5, 2019 Posted July 5, 2019 I just can't wait to be back with my mates on a train to who knows where.
Sluffy Posted July 5, 2019 Posted July 5, 2019 3 hours ago, masi 51 said: 12 month rolling contract between him and Anderson. Do not know how this stands under Tupe.. It's not between him and Anderson and it's nothing to do with TUPE. Parkinson is employed by the club (not Anderson) and it's the club that's changing ownership (not employees being transferred from one company to another (so TUPE does not come into play).
Sluffy Posted July 5, 2019 Posted July 5, 2019 6 hours ago, Tombwfc said: I can't think there would be many occaisons where a sacked manager gets the entire value of their contract paid up in full in one lump sum immediately. Everton have just finished paying Ronald Koeman off, for example. And once we've exited administration, we're free to deal with paying Parky (or anyone) the way we have done for the past six months. You might think that but the correct answer is what the agreed terms in his contract are respect of termination of employment. I'm also not suggesting the full £1m sum is solely for Parkinson, I assume a fair chunk of it is for the termination of the contracts of his staff who presumably will be asked to leave with him. They may be kept on but that would be unusual and imply the new manager would not wish to bring his people with him to the club. Also I would fully expect prolonged settlements of termination will incur extra payments. For a rather bizarre but absolutely true story of such an arrangement of postponing full termination costs owed by a club to a former employee and extending full settlement to a future date you might wish to read this - https://www.bbc.co.uk/sport/baseball/48831510 It wouldn't surprise me in the least if Koeman. Moyes, etc, have also significantly benefited financially from having their termination settlements delayed for a number of years by their former employers. If Parkinson's contract of employment is terminated under Administration as per the original question I was answering. his years salary from his rolling contract (along with his outstanding unpaid wages) would immediate become a Football Creditor, and thus would need to be settled in full before the EFL would allow the club to come out of Administration (they hold the golden share in the club before anyone asks).
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