Plums Posted July 29, 2019 Posted July 29, 2019 It could quite easily be cash flow. Let time tell it’s tale, and hope we get to slag off the football instead 😎
Tommy Banks Posted July 29, 2019 Posted July 29, 2019 Can’t believe they’re borrowing money from the PFA to pay wages owed. It’s scandalous, and doesn’t bode well for the future
gonzo Posted July 29, 2019 Posted July 29, 2019 Think I’m with spider in that this is all just impeccably bad timing. If this deal was going through mid season, we’d just be limping through and folk would be non the wiser. Instead it’s a race against time. Deals like this normally take yonks to complete like Wigan and others. It obvious FV haven’t got the cash to simply pay everyone and start again. It was always going to be a nightmare due to car crash they’ve taken over. But it’s very much in MJ’s interests that this deal gets done, and that goes way beyond football. If we can somehow cobble a deal together to please EFL we will start the season on Saturday. They won’t be in any rush to expel a football club due to their own incompetence. Everybody chill. We’re nearly there.
Benny The Ball Posted July 29, 2019 Posted July 29, 2019 (edited) 7 minutes ago, Tombwfc said: Is it not just Ken, as MJ (via PBP) has the first charge on the hotel (circa the original stated value) and is involved with FV. Surely this hasn't been in his interests? PBPs first charge is from memory £5.5 million ( Sluffy has all the figures ) KA s charge is secondary so the higher the selling price of the Hotel the more KA gets out of this MJ probably thought with a £5.5 million first charge he could just take the hotel in lieu of his charge as it was arguably not worth that - until its value suddenly increased when this flawed process was put in place Edited July 29, 2019 by Benny The Ball
RUREADY2ROLL Posted July 29, 2019 Posted July 29, 2019 2 minutes ago, gonzo said: Think I’m with spider in that this is all just impeccably bad timing. If this deal was going through mid season, we’d just be limping through and folk would be non the wiser. Instead it’s a race against time. Deals like this normally take yonks to complete like Wigan and others. It obvious FV haven’t got the cash to simply pay everyone and start again. It was always going to be a nightmare due to car crash they’ve taken over. But it’s very much in MJ’s interests that this deal gets done, and that goes way beyond football. If we can somehow cobble a deal together to please EFL we will start the season on Saturday. They won’t be in any rush to expel a football club due to their own incompetence. Everybody chill. We’re nearly there. Well said They have borrowed the money in case things do not materialise with the hotel but if EFL accept we are paying the players and moving forward then the game goes on and we move forward
Okocha10 Posted July 29, 2019 Posted July 29, 2019 Not even going to criticise FV till I know the full facts on what’s going on, they could be spending a shed load on paying secured creditors & for the hotel, this causing them for this PFA loan. Better to do this than bloody have no club!
DomRepWanderer Posted July 29, 2019 Posted July 29, 2019 2 minutes ago, Tommy Banks said: Can’t believe they’re borrowing money from the PFA to pay wages owed. It’s scandalous, and doesn’t bode well for the future It'll be a bridging loan as somebody else said the hotel is costing more than first thought, so the money for wages would be covering the extra, PFA loan them the money paid back over time, no gap in funding short term..
Blondi Posted July 29, 2019 Posted July 29, 2019 12 minutes ago, radcliffewhite1 said: Is this bleeding game on Saturday or what I reckon so, anyway back to Love Island for me.
RUREADY2ROLL Posted July 29, 2019 Posted July 29, 2019 1 minute ago, Blondi said: I reckon so, anyway back to Love Island for me. pervert
Sluffy Posted July 29, 2019 Posted July 29, 2019 (edited) 37 minutes ago, Benny The Ball said: I dont primarily blame FV Heads of terms drawn up by the football club administrator The same administrator who asked for proof of source and evidence of £25 millions from prospective purchasers wishing to acquire both the Football Club and the Hotel Why did he accept that offer , conditional on purchasing the hotel , and ask for proof of funds re the hotel if it was not in his gift to sell the hotel ? I have said this for weeks The process was fundamentally flawed The flaw was exploited - particularly by delaying the sale of the hotel Thats why Bassini etc suddenly wanted the Hotel as a back door way to block FV so that the club will come back on the market That's why the Hotel valuation has risen from £5 million to approaching £9 million Look who benefits from that I think you've gone half a step too far, I don't think Bassini ever wanted the club, his involvement was to create an inflated price for the hotel. As I've said all along PBP had head claim on the hotel and if its value was £5.5m or less, then there was nothing left in the pot for KA. He's only secured for £1.6m in the club so stands to lose £3.4m if the hotel doesn't make at least £8.9m. JV worked on the belief they will get it for nothing additional to what PBP already had in it with their £5.5m - so believed they had funds to purchase the club, hotel and satisfy all secured and football debtors and reach agreement with all unsecured as per their original bid. This 'fly in the ointment' has meant that some sort of settlement was done to buy off Ken, which in turn left a few million hole in their budget. Clearly they hoped player wages deferment would help massively but it seems the players have rejected that. Looks as though the PFA have reluctantly accepted that they either need the players to accept the deferment (clearly they haven't) or lend the money to FV to pay them - which it seems they are. The consequences of them not doing could well be the FV deal collapsing and the club being liquidated. I guess if FV had to stump up an unexpected £3.5m for KA from the say £3m they had set aside to pay the players, then the PFA is having to now plug that shortfall. Better that than Deano taking out his BM loan as happened last time the club changed hands. Edited July 29, 2019 by Sluffy Grammar errors
radcliffe white Posted July 29, 2019 Posted July 29, 2019 6 minutes ago, Blondi said: I reckon so, anyway back to Love Island for me. It’s all about the final, forget Wycombe tommy & the blonde to win
smeghead83 Posted July 29, 2019 Posted July 29, 2019 (edited) On a more pressing matter when can we expect to see a refund for the cancelled Brentford match? In seriousness I'm intrigued to see how the club will flog season tickets if all goes to plan this week, i.e cost and how quickly they can be processed, also the set up for the dd scheme. I fear numbers will be 2-3000 down. Edited July 29, 2019 by smeghead83
awandering Posted July 29, 2019 Posted July 29, 2019 Is the PFA loan going to be the final piece or do we still need to wait for the Hotel sale to be finalised before any takeover is completed? If so are we actually going to be able to put a team out on Saturday?
DirtySanchez Posted July 29, 2019 Posted July 29, 2019 42 minutes ago, Benny The Ball said: I dont primarily blame FV Heads of terms drawn up by the football club administrator The same administrator who asked for proof of source and evidence of £25 millions from prospective purchasers wishing to acquire both the Football Club and the Hotel Why did he accept that offer , conditional on purchasing the hotel , and ask for proof of funds re the hotel if it was not in his gift to sell the hotel ? I have said this for weeks The process was fundamentally flawed The flaw was exploited - particularly by delaying the sale of the hotel Thats why Bassini etc suddenly wanted the Hotel as a back door way to block FV so that the club will come back on the market That's why the Hotel valuation has risen from £5 million to approaching £9 million Look who benefits from that Reet so let's say the process has been flawed from the start and there's no deal on the horizon So administrators liquidate but as they have act as improperly what recourse Is there? It's not going to bring the club back but would EDT do them for doing a shit job? If so why haven't they been all over this already, and don't take this the wrong way, but why hasn't someone higher up noticed?
Benny The Ball Posted July 29, 2019 Posted July 29, 2019 4 minutes ago, Sluffy said: I think you've gone half a step too far, I don't think Bassini ever wanted the club, his involvement was to create an inflated price for the hotel. Do you really think that ? I originally thought when he turned up at court as a prospective buyer of the club that it was all a show to avoid the judge ordering the club be wound up to get us to the end of the season and he was KA's stooge The longer he has been around I find it hard to believe its all an act on behalf of KA You may be right - we may never know
birch-chorley Posted July 29, 2019 Posted July 29, 2019 11 minutes ago, smeghead83 said: I fear numbers will be 2-3000 down. I doubt we will sell 3k the way things are going
Casino Posted July 29, 2019 Posted July 29, 2019 47 minutes ago, DomRepWanderer said: It'll be a bridging loan as somebody else said the hotel is costing more than first thought, so the money for wages would be covering the extra, PFA loan them the money paid back over time, no gap in funding short term.. And once we sell the ground, all is good
Spider Posted July 29, 2019 Posted July 29, 2019 (edited) If I'm summarising today correctly: FV want to loan money from the PFA to settle the player debts, thus enabling a team to play at Wycombe? I'm a bit flummoxed. If FV are doing this because the "deal" is not yet completed, they are liable to pay that back to the PFA regardless of whether they end up owning the club or not. So why get a loan unless they haven't got a pot to piss in? Don't get me wrong, they've come up with a way to get the game on, and fair play. But this really does leave a lot of doubt about whether FV have any money. If I was the PFA, I'd not be lending them a penny. Edited July 29, 2019 by Spider
HR Posted July 29, 2019 Posted July 29, 2019 24 minutes ago, Benny The Ball said: Do you really think that ? I originally thought when he turned up at court as a prospective buyer of the club that it was all a show to avoid the judge ordering the club be wound up to get us to the end of the season and he was KA's stooge The longer he has been around I find it hard to believe its all an act on behalf of KA You may be right - we may never know It's a logical strategy, preventing FV getting the hotel on the cheap and providing KA maximum return, all under the control of KAs pet Administrators.
Casino Posted July 29, 2019 Posted July 29, 2019 (edited) Spider, this could just be one brick in the wall The hotel might just need them to sign, and the club is all but sorted Edited July 29, 2019 by Casino
Boothy Posted July 29, 2019 Posted July 29, 2019 So the EFL lend FV some money to clear the football creditors, the business still isn't liquid and therefore cant trade, is that correct?
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