20% is an awful offer

3 minutes ago, BIGBW said:

Look -- the club is on a fine wire. I know owe love BWFC, but it doesn't mean that it's an attractive opportunity for a rich buyer. FV have come in and are trying to drive a hard bargain because it will be a small margin that makes this doable. They've accepted that they won't be in the Championship for two seasons, and may even end up in League 2. It's critical to ensure that they can derive as much value from the deal as possible. 

Nobody disputes that. The fact that 5 days before the season starts they don't have an agreement with football creditors - is the major major issue. Not that they are trying to save money. This should have been done weeks and weeks ago. 

With FV and their no money we could be in the same predicament again before the end of the season . Fuck me it is grim this.

2 minutes ago, BIGBW said:

Look -- the club is on a fine wire. I know owe love BWFC, but it doesn't mean that it's an attractive opportunity for a rich buyer. FV have come in and are trying to drive a hard bargain because it will be a small margin that makes this doable. They've accepted that they won't be in the Championship for two seasons, and may even end up in League 2. It's critical to ensure that they can derive as much value from the deal as possible. 

This with big knobs on

Don't think any of us dispute the issues FV are walking into, but this should have been sorted a while back. They've been preferred bidders for over 6 weeks.

Football Creditors as at the 13th May as per Administrators report - £2,747,122 and 16p

Add another month and a half to the end of the season (30th June) for all the players less a little bit that jumped early - guess that would push it over £3m.

Have FV got £3m to give?

 

1 minute ago, Sluffy said:

Football Creditors as at the 13th May as per Administrators report - £2,747,122 and 16p

Add another month and a half to the end of the season (30th June) for all the players less a little bit that jumped early - guess that would push it over £3m.

Have FV got £3m to give?

 

If they haven't then they knew this when signing HoTs and needed to reach an agreement in the past 5 weeks.....

5 minutes ago, tomski said:

20% is an awful offer

I assume the players involved will defer to the PFA 

Last week Gordon Taylor was on Talksport complaining about proposed deferred payments 

Be very surprised if PFA recommend acceptance 

Just now, bwfcfan5 said:

If they haven't then they knew this when signing HoTs and needed to reach an agreement in the past 5 weeks.....

Maybe they believed they had an agreement with the players and the players have since changed their minds...

(See I can put dots at the end of a sentence for effect too - fwiw the correct grammar for such is just three dots - or at least that's what I was taught many, many years ago at school).

 

1 minute ago, Benny The Ball said:

I assume the players involved will defer to the PFA 

Last week Gordon Taylor was on Talksport complaining about proposed deferred payments 

Be very surprised if PFA recommend acceptance 

As opposed to liquidation and not guaranteed anything I would rather be guaranteed something than nothing

7 minutes ago, Benny The Ball said:

I assume the players involved will defer to the PFA 

Last week Gordon Taylor was on Talksport complaining about proposed deferred payments 

Be very surprised if PFA recommend acceptance 

The Mike Keegan article infers they are recommending it. I’d be surprised like yourself if they do though. 

What a sad mess

Nixon is saying the contrary - that players are fuming, both current and ex. Remind me why this is being sorted at 2:30, when the deadline is 5pm? Brinksmanship to the extreme.

Surely this is where the EFL / administrators should have stepped in originally ? 

What was agreed when the heads of terms were approved ? - if this wasn't the deal, then the goal posts have been changed and technically for me, FV's bid should be null and void.  Why is this only being negotiated now ?

The whole thing stinks - and the EFL / administrators need to take a long, hard look at themselves

Was the 20% offer part of their bid?

or have they backtracked?

what did other bidders offer?

flawed and crap bidding process.

18 minutes ago, bwfcfan5 said:

If they haven't then they knew this when signing HoTs and needed to reach an agreement in the past 5 weeks.....

When FV  signed HOT they had to  provide to Michael Rubins proof of and the source of the requisite  £25 million 

They knew that football creditors had to be paid in full 

We know that one of FV original members Basran has left and been replaced by Morris who is supposedly providing additional funding 

We know that the FV 2 year funding plan was approved 

We know that plan was flawed because it was dependent from the outset on acquisition of the hotel 

Was it further flawed because it assumed staged payments over 2 years to football creditors and If so why is this only NOW an issue ? 

Or are FV having to find more upfront monies to acquire the Hotel than anticipated ( which I assume is the case  - because by all accounts the hotel seems to have gone up in value from circa £5 million 12 months ago to circa £9 million now , hence all the delays ) and cannot actually raise any additional short term funding to get over this hurdle and are therefore looking to manage their own  cash flow by clawing it back by deferring payments to  football creditors ? 

Shows what fine margins FV must be working to and their lack of funding 

Really cannot see PFA supporting this 

 

 

 

Bassini says he had the cash on the hip ready to go.

just saying 😁

6 minutes ago, Eavesy said:

Was the 20% offer part of their bid?

or have they backtracked?

what did other bidders offer?

flawed and crap bidding process.

I read it that they will get 100%

20% now & the rest over the next two years.

Is that not correct?

 

Just now, Steejay said:

I read it that they will get 100%

20% now & the rest over the next two years.

Is that not correct?

 

That is apparently the offer on the table from FV

7 minutes ago, Benny The Ball said:

When FV  signed HOT they had to  provide to Michael Rubins proof of and the source of the requisite  £25 million 

They knew that football creditors had to be paid in full 

We know that one of FV original members Basran has left and been replaced by Morris who is supposedly providing additional funding 

We know that the FV 2 year funding plan was approved 

We know that plan was flawed because it was dependent from the outset on acquisition of the hotel 

Was it further flawed because it assumed staged payments over 2 years to football creditors and If so why is this only NOW an issue ? 

Or are FV having to find more upfront monies to acquire the Hotel than anticipated ( which I assume is the case  - because by all accounts the hotel seems to have gone up in value from circa £5 million 12 months ago to circa £9 million now , hence all the delays ) and cannot actually raise any additional short term funding to get over this hurdle and are therefore looking to manage their own  cash flow by clawing it back by deferring payments to  football creditors ? 

Shows what fine margins FV must be working to and their lack of funding 

Really cannot see PFA supporting this 

 

Surely though as has been said 20% of something now is far better than 100% of nothing, so PFA won't poo poo it surely.

 

 

What I would say is that FV probably owe the fans some kind of statement later today IF this doesn’t go well.

Ive been a fan of their tight-lipped approach but should the game be called off I’d say an explanation is due.

If it all goes ahead (and I’m still thinking it will), then they can maintain radio silence for me.

11 minutes ago, DomRepWanderer said:

Surely though as has been said 20% of something now is far better than 100% of nothing, so PFA won't poo poo it surely.

Well we will  know in just over 2 hours time

With them its about the principle , they cherish this 100% payment guarantee to football creditors

Its not about BWFC or any other club 

Accepting a deferment in their eyes will be opening the floodgates for other clubs in the future to undermine the protection of the 100% guarantee that their members enjoy 

I hope that you are right by the way 

 

Edited July 29, 20197 yr by Benny The Ball

Presumably Benny, clubs not in administration or such a shit state wouldn't be allowed to defer payment in this way.

2 minutes ago, Tonge moor green jacket said:

Presumably Benny, clubs not in administration or such a shit state wouldn't be allowed to defer payment in this way.

The payments we are talking about are wages owed to players who have now left BWFC 

Clubs not in administration normally pay players wages each month so its not an issue,  and if a club does not pay wages when due it is often one of the first signs of a club having problems - Bury Macclesfield and Notts County being other recent examples 

I dont know ( maybe someone better informed can comment ) If any club has ever come to a time to pay arrangement with the PFA over 2 years for its members ? 

26 minutes ago, Spider said:

Bassini says he had the cash on the hip ready to go.

just saying 😁

Amazingly he might be a better option than these FV cowboys. What a fucking mess 😢

9 minutes ago, darrener said:

Amazingly he might be a better option than these FV cowboys. What a fucking mess 😢

He said at his meet and greet at the stadium tother week that fans have been lied to, he may have had a point there.