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Administration an option now?

objectivecafc
objectivecafc Posts: 679
in General Charlton
Would ESI vw2 puttingtputting club into administration now open the door to a real proper take over?
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Comments

  • Mendonca In Asdas
    Mendonca In Asdas Posts: 22,655
    Yeah bring it on, it’s not like we’ve been kicked enough.
  • Cafc43v3r
    Cafc43v3r Posts: 21,600
    If we do it now we start next season on minus 12. 
  • Bedsaddick
    Bedsaddick Posts: 24,763
    Cafc43v3r said:
    If we do it now we start next season on minus 12. 
    I'd take that if it meant Varney ans Barclay get the club and the stadium 
  • mid_life_crisis
    mid_life_crisis Posts: 3,265
    Cafc43v3r said:
    If we do it now we start next season on minus 12. 
    No kidding.
  • peterreeves
    peterreeves Posts: 1,063
    Sounds like a great plan.... Not!

    We will have enough problems signing players... Finding a manager and then just for fun having to make up 12
    points....is this a wind up cos I'm not laughing! 
  • carly burn
    carly burn Posts: 19,475
    ESI 1 shitbag delegate Southall said the championship was a big draw for them getting involved. Let's hope they now piss off very quickly
  • Leroy Ambrose
    Leroy Ambrose Posts: 14,438
    'Option'? I think the word you're looking for is 'certainty' 
  • CAFCTrev
    CAFCTrev Posts: 5,984
    Vaney and Barclay own the club and a 12 point deduction? Id take it all day long.
  • Hovi's Biscuit
    Hovi's Biscuit Posts: 1,717
    If Roland gets fucked over in some way as well, -12 is no biggie

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  • cafcfan1990
    cafcfan1990 Posts: 12,811
    I'm hoping there's no need for a 12 point deduction. ESI just need to fuck off before someone does it for them. 
  • carly burn
    carly burn Posts: 19,475
    Now we are officially down the EFL could really have some fun with us.
  • peterreeves
    peterreeves Posts: 1,063
    carly burn said:
    Now we are officially down the EFL could really have some fun with us.
    They're probably partying now through the night waiting to deliver more penalties in the morning! 
  • ricky_otto
    ricky_otto Posts: 22,600
    objectivecafc said:
    Would ESI vw2 puttingtputting club into administration now open the door to a real proper take over?
    Ask Bolton. 
  • redman
    redman Posts: 5,286
    I don't see how admin solves anything. The real problem is mainly Roland still owning the ground and Sparrows Lane. Admin doesn't help here as he would still own it. Needs everyone being sensible. Trouble is with the characters involved that's not likely to be the case. 
    Who is going to put us in admin anyway? not going to be the owners, they would lose everything. 
    Creditors, they could keep it going for quite a few months selling Phillips, Doughty, Bowyer in the hope of a mad buyer 
  • Lazy_eye_metaphor
    Lazy_eye_metaphor Posts: 1,959
    If administration really does rid us of both RD and ESI, then bring it on. Luton have just shown that you can eventually recover from that peril.
  • Airman Brown
    Airman Brown Posts: 15,745
    edited July 2020
    redman said:
    I don't see how admin solves anything. The real problem is mainly Roland still owning the ground and Sparrows Lane. Admin doesn't help here as he would still own it. Needs everyone being sensible. Trouble is with the characters involved that's not likely to be the case. 
    Who is going to put us in admin anyway? not going to be the owners, they would lose everything. 
    Creditors, they could keep it going for quite a few months selling Phillips, Doughty, Bowyer in the hope of a mad buyer 
    It wipes the debt, which is what is driving his price. It pushes £7m ex-director loans on to him. It leaves him at risk of picking up the business rates, security, insurance and utilities on the two sites, with no rent. The business will collapse into admin if it is not able to compete in the EFL with the current owners and cannot be sold to new ones because of Duchatelet.

    Any buyer outside admin is currently picking up a £50m commitment in four years’ time that will make no possible sense.
  • CAFCTrev
    CAFCTrev Posts: 5,984
    Airman Brown said:
    redman said:
    I don't see how admin solves anything. The real problem is mainly Roland still owning the ground and Sparrows Lane. Admin doesn't help here as he would still own it. Needs everyone being sensible. Trouble is with the characters involved that's not likely to be the case. 
    Who is going to put us in admin anyway? not going to be the owners, they would lose everything. 
    Creditors, they could keep it going for quite a few months selling Phillips, Doughty, Bowyer in the hope of a mad buyer 
    It wipes the debt, which is what is driving his price. It pushes £7m ex-director loans on to him. It leaves him at risk of picking up the business rates, security, insurance and utilities on the two sites, with no rent. The business will collapse into admin if it is not able to compete in the EFL with the current owners and cannot be sold to new ones because of Duchatelet.

    Any buyer outside admin is currently picking up a £50m commitment in four years’ time that will make no possible sense.
    So if the debt is wiped, and a buyer is looking to buy the rest from RD, how much would RD be looking to sell for if he only has the stadium and training ground left thats worth anything? Would he still try and keep the ground?
  • golfaddick
    golfaddick Posts: 33,650
    Airman Brown said:
    redman said:
    I don't see how admin solves anything. The real problem is mainly Roland still owning the ground and Sparrows Lane. Admin doesn't help here as he would still own it. Needs everyone being sensible. Trouble is with the characters involved that's not likely to be the case. 
    Who is going to put us in admin anyway? not going to be the owners, they would lose everything. 
    Creditors, they could keep it going for quite a few months selling Phillips, Doughty, Bowyer in the hope of a mad buyer 
    It wipes the debt, which is what is driving his price. It pushes £7m ex-director loans on to him. It leaves him at risk of picking up the business rates, security, insurance and utilities on the two sites, with no rent. The business will collapse into admin if it is not able to compete in the EFL with the current owners and cannot be sold to new ones because of Duchatelet.
    Could you explain what debt you are referring to...?  I thought the only debt was on the books to the club. How is this "wiped". We don't owe any major creditor (yet) & the staff & players have been paid to date.

    As someone posted above, I think going into administration would be a very bad idea
     Starting next season on -12 points with hardly any experienced players is a recipe for disaster. Just ask Bolton. And there is no guarantee that AB/PV would buy us, or that the Administratiors would sell the club to them.
  • seth plum
    seth plum Posts: 53,448
    If we were in administration, and somehow surviving playing elsewhere, then whoever the administrators could sell the football club side of things to (if anybody) presumably they would need to be able to pass the EFL test.

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  • killerandflash
    killerandflash Posts: 69,896
    Airman Brown said:
    redman said:
    I don't see how admin solves anything. The real problem is mainly Roland still owning the ground and Sparrows Lane. Admin doesn't help here as he would still own it. Needs everyone being sensible. Trouble is with the characters involved that's not likely to be the case. 
    Who is going to put us in admin anyway? not going to be the owners, they would lose everything. 
    Creditors, they could keep it going for quite a few months selling Phillips, Doughty, Bowyer in the hope of a mad buyer 
    It wipes the debt, which is what is driving his price. It pushes £7m ex-director loans on to him. It leaves him at risk of picking up the business rates, security, insurance and utilities on the two sites, with no rent. The business will collapse into admin if it is not able to compete in the EFL with the current owners and cannot be sold to new ones because of Duchatelet.

    Any buyer outside admin is currently picking up a £50m commitment in four years’ time that will make no possible sense.
    But the club has very little debt surely?

    It has an obligation to buy the ground at a massively inflated price, but that's not due imminently

  • CAFCTrev
    CAFCTrev Posts: 5,984
    golfaddick said:
    Airman Brown said:
    redman said:
    I don't see how admin solves anything. The real problem is mainly Roland still owning the ground and Sparrows Lane. Admin doesn't help here as he would still own it. Needs everyone being sensible. Trouble is with the characters involved that's not likely to be the case. 
    Who is going to put us in admin anyway? not going to be the owners, they would lose everything. 
    Creditors, they could keep it going for quite a few months selling Phillips, Doughty, Bowyer in the hope of a mad buyer 
    It wipes the debt, which is what is driving his price. It pushes £7m ex-director loans on to him. It leaves him at risk of picking up the business rates, security, insurance and utilities on the two sites, with no rent. The business will collapse into admin if it is not able to compete in the EFL with the current owners and cannot be sold to new ones because of Duchatelet.
    Could you explain what debt you are referring to...?  I thought the only debt was on the books to the club. How is this "wiped". We don't owe any major creditor (yet) & the staff & players have been paid to date.

    The debt is to Staprix I think, basically the money RD spent to keep the club running was in the form of loans from his other company Staprix. He wants that back.
  • redman
    redman Posts: 5,286
    Airman Brown said:
    redman said:
    I don't see how admin solves anything. The real problem is mainly Roland still owning the ground and Sparrows Lane. Admin doesn't help here as he would still own it. Needs everyone being sensible. Trouble is with the characters involved that's not likely to be the case. 
    Who is going to put us in admin anyway? not going to be the owners, they would lose everything. 
    Creditors, they could keep it going for quite a few months selling Phillips, Doughty, Bowyer in the hope of a mad buyer 
    It wipes the debt, which is what is driving his price. It pushes £7m ex-director loans on to him. It leaves him at risk of picking up the business rates, security, insurance and utilities on the two sites, with no rent. The business will collapse into admin if it is not able to compete in the EFL with the current owners and cannot be sold to new ones because of Duchatelet.

    Any buyer outside admin is currently picking up a £50m commitment in four years’ time that will make no possible sense.
    Ok thanks, that helps. However I still am not sure who will put us into admin in the near future. Current owners have no incentive (nothing to lose anyway ) and creditors can be paid from sales. That maybe until Christmas or so. Unless EFL kicked us out the league. 


    Isn't the £50m an option not a commitment so if somebody bought the club and we played at another ground it is not a liability. Therefore as I see a negotiation with Roland is needed anyway (at least to keep the Valley). 

    Is there any other way admin can be influenced or am I missing something? 

  • ct_addick
    ct_addick Posts: 4,338
    Wait for EFL decision on Sheff Wed
  • Airman Brown
    Airman Brown Posts: 15,745
    edited July 2020
    redman said:
    Airman Brown said:
    redman said:
    I don't see how admin solves anything. The real problem is mainly Roland still owning the ground and Sparrows Lane. Admin doesn't help here as he would still own it. Needs everyone being sensible. Trouble is with the characters involved that's not likely to be the case. 
    Who is going to put us in admin anyway? not going to be the owners, they would lose everything. 
    Creditors, they could keep it going for quite a few months selling Phillips, Doughty, Bowyer in the hope of a mad buyer 
    It wipes the debt, which is what is driving his price. It pushes £7m ex-director loans on to him. It leaves him at risk of picking up the business rates, security, insurance and utilities on the two sites, with no rent. The business will collapse into admin if it is not able to compete in the EFL with the current owners and cannot be sold to new ones because of Duchatelet.

    Any buyer outside admin is currently picking up a £50m commitment in four years’ time that will make no possible sense.
    Ok thanks, that helps. However I still am not sure who will put us into admin in the near future. Current owners have no incentive (nothing to lose anyway ) and creditors can be paid from sales. That maybe until Christmas or so. Unless EFL kicked us out the league. 


    Isn't the £50m an option not a commitment so if somebody bought the club and we played at another ground it is not a liability. Therefore as I see a negotiation with Roland is needed anyway (at least to keep the Valley). 

    Is there any other way admin can be influenced or am I missing something? 

     No, it’s a commitment, I understand. That’s why it’s an obstacle. 

    Still, Roland’s got a guarantee from Nimer over the money, so no problem there.
  • Bedsaddick
    Bedsaddick Posts: 24,763
    ct_addick said:
    Wait for EFL decision on Sheff Wed
    Dream on 
  • carly burn
    carly burn Posts: 19,475
    When are the wages due again? Next Friday?
  • Airman Brown
    Airman Brown Posts: 15,745
    carly burn said:
    When are the wages due again? Next Friday?
    Yes. Will need to be in the bank by midweek.
  • J BLOCK
    J BLOCK Posts: 8,317
    Where do we go from here? 
  • CAFCTrev
    CAFCTrev Posts: 5,984
    J BLOCK said:
    Where do we go from here? 
    For a idea of how next season could go for us take Bolton this season as an example. If we go into admin thats a start on -12 points, and a squad filled with mostly youth players due to transfer embargos. That and no crowds allowed in the Valley for a big chunk of the season. 

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