Parky Posted June 15, 2009 Share Posted June 15, 2009 Thoughts? It is clear MA is not putting any more money in and with our outgoings and only £2m CCC money to look forward to plus 15m parachute money, this might be the time to bite the bullet. I'm no expert, but I wonder if this might be the best time? Only MA would be the big loser if I understand the process and a new buyer could have the club for much less than a 100m. *Tin hat on* Link to post Share on other sites More sharing options...
Pilko Posted June 15, 2009 Share Posted June 15, 2009 Christ, where's indi when you need him? He made an excellent post last week detailing exactly why we will not be going into administration. I'm bored of hearing the word. Link to post Share on other sites More sharing options...
NG32 Posted June 15, 2009 Share Posted June 15, 2009 Ahhh the A word has come up again, i cant see why he would do this, even if he had to flog us for 50 mill it would still be better then going into admin. Link to post Share on other sites More sharing options...
James Posted June 15, 2009 Share Posted June 15, 2009 Worth the points deduction? I don't think so. Link to post Share on other sites More sharing options...
Parky Posted June 15, 2009 Share Posted June 15, 2009 Christ, where's indi when you need him? He made an excellent post last week detailing exactly why we will not be going into administration. I'm bored of hearing the word. His main argument is that MA won't do it cause MA would be the main loser as it is his asset and we owe him the debt. But that doesn't take into account the huge continued outgoings and the lack of money coming in which is putting off prospective buyers imo. If a buyer could get the club for £5m why would he pay £100m. Not an expert but we need to put the survival of the club before MA's needs. Link to post Share on other sites More sharing options...
Parky Posted June 15, 2009 Share Posted June 15, 2009 Worth the points deduction? I don't think so. 9pts? Link to post Share on other sites More sharing options...
Guest gggg Posted June 15, 2009 Share Posted June 15, 2009 If a buyer could get the club for £5m why would he pay £100m If Ashley could sell it for around £50m (and he could, easily) why would he let it go for something measly like 5p in the pound. Link to post Share on other sites More sharing options...
jimmymag Posted June 15, 2009 Share Posted June 15, 2009 If a buyer could get the club for £5m why would he pay £100m If Ashley could sell it for around £50m (and he could, easily) why would he let it go for something measly like 5p in the pound. End of thread. Link to post Share on other sites More sharing options...
Guest toonlass Posted June 15, 2009 Share Posted June 15, 2009 Thoughts? It is clear MA is not putting any more money in and with our outgoings and only £2m CCC money to look forward to plus 15m parachute money, this might be the time to bite the bullet. I'm no expert, but I wonder if this might be the best time? Only MA would be the big loser if I understand the process and a new buyer could have the club for much less than a 100m. *Tin hat on* Link to post Share on other sites More sharing options...
Parky Posted June 15, 2009 Share Posted June 15, 2009 If a buyer could get the club for £5m why would he pay £100m If Ashley could sell it for around £50m (and he could, easily) why would he let it go for something measly like 5p in the pound. End of thread. Could being the operative word. The longer this goes on the closer we get to liquidation. MA has said he isn't going to put anymore money in. The answer to all our problems is a mega rich buyer, but where are they? Link to post Share on other sites More sharing options...
Keefaz Posted June 15, 2009 Share Posted June 15, 2009 If a buyer could get the club for £5m why would he pay £100m If Ashley could sell it for around £50m (and he could, easily) why would he let it go for something measly like 5p in the pound. End of thread. Could being the operative word. The longer this goes on the closer we get to liquidation. MA has said he isn't going to put anymore money in. The answer to all our problems is a mega rich buyer, but where are they? Jesmond? Link to post Share on other sites More sharing options...
Dave Posted June 15, 2009 Share Posted June 15, 2009 On the way from the airport. Link to post Share on other sites More sharing options...
Pilko Posted June 15, 2009 Share Posted June 15, 2009 On the way from the airport. They've just stopped off for a bacon and egg stottie and a coffee. Link to post Share on other sites More sharing options...
quayside Posted June 15, 2009 Share Posted June 15, 2009 I don't know if we've got any lawyers or insolvency experts who post on here. It's a complicated area and expert opinions would be interesting. Administration is basically the same process as Chapter 11 in the USA. It allows the company to carry on trading whilst giving it protection from its creditors. An administrator is appointed and his first priority is to find a solution to the company's problems that enable it to carry on trading. If he can't do that he tries to bring about a liquidation that gives the creditors the best possible return. Ashley is by far and away the major creditor of the club, although not the only one as there will be plenty of other people owed money as well. So why does the club need protecting from him? Also a solution to the problem would be a change of ownership and if you think the club has dropped in value since relegation then wait and see what would happen if it went into administration. If it ever got to liquidation you would then get a fire sale of the clubs assets so the money Ashley would get for the players etc would be a fraction of their worth. A further point is that the administration process is expensive, the administrator gets highly paid and his money comes out of the company as a preferred creditor, so basically another drain on the coffers. As it stands I can't see why this would do anything for Ashley, but I'm no expert and Ashley works in weird ways. Link to post Share on other sites More sharing options...
Parky Posted June 15, 2009 Share Posted June 15, 2009 I don't know if we've got any lawyers or insolvency experts who post on here. It's a complicated area and expert opinions would be interesting. Administration is basically the same process as Chapter 11 in the USA. It allows the company to carry on trading whilst giving it protection from its creditors. An administrator is appointed and his first priority is to find a solution to the company's problems that enable it to carry on trading. If he can't do that he tries to bring about a liquidation that gives the creditors the best possible return. Ashley is by far and away the major creditor of the club, although not the only one as there will be plenty of other people owed money as well. So why does the club need protecting from him? Also a solution to the problem would be a change of ownership and if you think the club has dropped in value since relegation then wait and see what would happen if it went into administration. If it ever got to liquidation you would then get a fire sale of the clubs assets so the money Ashley would get for the players etc would be a fraction of their worth. A further point is that the administration process is expensive, the administrator gets highly paid and his money comes out of the company as a preferred creditor, so basically another drain on the coffers. As it stands I can't see why this would do anything for Ashley, but I'm no expert and Ashley works in weird ways. Agree with all of that. But, after admin the club could be bought for peanuts.....You see my thinking? Link to post Share on other sites More sharing options...
ToonTastic Posted June 15, 2009 Share Posted June 15, 2009 I don't know if we've got any lawyers or insolvency experts who post on here. It's a complicated area and expert opinions would be interesting. Administration is basically the same process as Chapter 11 in the USA. It allows the company to carry on trading whilst giving it protection from its creditors. An administrator is appointed and his first priority is to find a solution to the company's problems that enable it to carry on trading. If he can't do that he tries to bring about a liquidation that gives the creditors the best possible return. Ashley is by far and away the major creditor of the club, although not the only one as there will be plenty of other people owed money as well. So why does the club need protecting from him? Also a solution to the problem would be a change of ownership and if you think the club has dropped in value since relegation then wait and see what would happen if it went into administration. If it ever got to liquidation you would then get a fire sale of the clubs assets so the money Ashley would get for the players etc would be a fraction of their worth. A further point is that the administration process is expensive, the administrator gets highly paid and his money comes out of the company as a preferred creditor, so basically another drain on the coffers. As it stands I can't see why this would do anything for Ashley, but I'm no expert and Ashley works in weird ways. Agree with all of that. But, after admin the club could be bought for peanuts.....You see my thinking? I know you'd like to forget Ashley in all this but you can't. He has no reason to do this for himself, he causes him more harm than good. Link to post Share on other sites More sharing options...
Skirge Posted June 15, 2009 Share Posted June 15, 2009 We will be sold in the next 2 weeks I reckon, all interedsted parties will want a good look at the books first, Ashley has made such a mess of things no one is just going to take his word that there is no debt. If administration was a real possiblity Ashley would drop his asking price but thats not going to happen umtil our potential buyers know whats going on and get to talk to the idiot. Link to post Share on other sites More sharing options...
quayside Posted June 15, 2009 Share Posted June 15, 2009 I don't know if we've got any lawyers or insolvency experts who post on here. It's a complicated area and expert opinions would be interesting. Administration is basically the same process as Chapter 11 in the USA. It allows the company to carry on trading whilst giving it protection from its creditors. An administrator is appointed and his first priority is to find a solution to the company's problems that enable it to carry on trading. If he can't do that he tries to bring about a liquidation that gives the creditors the best possible return. Ashley is by far and away the major creditor of the club, although not the only one as there will be plenty of other people owed money as well. So why does the club need protecting from him? Also a solution to the problem would be a change of ownership and if you think the club has dropped in value since relegation then wait and see what would happen if it went into administration. If it ever got to liquidation you would then get a fire sale of the clubs assets so the money Ashley would get for the players etc would be a fraction of their worth. A further point is that the administration process is expensive, the administrator gets highly paid and his money comes out of the company as a preferred creditor, so basically another drain on the coffers. As it stands I can't see why this would do anything for Ashley, but I'm no expert and Ashley works in weird ways. Agree with all of that. But, after admin the club could be bought for peanuts.....You see my thinking? Not really. The only people who can put the club into administration are the creditors or the directors of the company, both of those bases are covered by Ashley. So he's the only one who can elect for administration and I don't know why he would. Link to post Share on other sites More sharing options...
Parky Posted June 15, 2009 Share Posted June 15, 2009 I don't know if we've got any lawyers or insolvency experts who post on here. It's a complicated area and expert opinions would be interesting. Administration is basically the same process as Chapter 11 in the USA. It allows the company to carry on trading whilst giving it protection from its creditors. An administrator is appointed and his first priority is to find a solution to the company's problems that enable it to carry on trading. If he can't do that he tries to bring about a liquidation that gives the creditors the best possible return. Ashley is by far and away the major creditor of the club, although not the only one as there will be plenty of other people owed money as well. So why does the club need protecting from him? Also a solution to the problem would be a change of ownership and if you think the club has dropped in value since relegation then wait and see what would happen if it went into administration. If it ever got to liquidation you would then get a fire sale of the clubs assets so the money Ashley would get for the players etc would be a fraction of their worth. A further point is that the administration process is expensive, the administrator gets highly paid and his money comes out of the company as a preferred creditor, so basically another drain on the coffers. As it stands I can't see why this would do anything for Ashley, but I'm no expert and Ashley works in weird ways. Agree with all of that. But, after admin the club could be bought for peanuts.....You see my thinking? Not really. The only people who can put the club into administration are the creditors or the directors of the company, both of those bases are covered by Ashley. So he's the only one who can elect for administration and I don't know why he would. There is still the costs concerning running of the club (roughly 20m every 3 months) and monies owed on transfers £5m on Colo alone. It's complex but with MA refusing to put more money in.......I can only see him dropping the asking price to say 50m in the coming weeks. If I was a prospective buyer I hold all the cards and would wait it out. I'm no expert and just thinking aloud. Link to post Share on other sites More sharing options...
quayside Posted June 15, 2009 Share Posted June 15, 2009 I don't know if we've got any lawyers or insolvency experts who post on here. It's a complicated area and expert opinions would be interesting. Administration is basically the same process as Chapter 11 in the USA. It allows the company to carry on trading whilst giving it protection from its creditors. An administrator is appointed and his first priority is to find a solution to the company's problems that enable it to carry on trading. If he can't do that he tries to bring about a liquidation that gives the creditors the best possible return. Ashley is by far and away the major creditor of the club, although not the only one as there will be plenty of other people owed money as well. So why does the club need protecting from him? Also a solution to the problem would be a change of ownership and if you think the club has dropped in value since relegation then wait and see what would happen if it went into administration. If it ever got to liquidation you would then get a fire sale of the clubs assets so the money Ashley would get for the players etc would be a fraction of their worth. A further point is that the administration process is expensive, the administrator gets highly paid and his money comes out of the company as a preferred creditor, so basically another drain on the coffers. As it stands I can't see why this would do anything for Ashley, but I'm no expert and Ashley works in weird ways. Agree with all of that. But, after admin the club could be bought for peanuts.....You see my thinking? Not really. The only people who can put the club into administration are the creditors or the directors of the company, both of those bases are covered by Ashley. So he's the only one who can elect for administration and I don't know why he would. There is still the costs concerning running of the club (roughly 20m every 3 months) and monies owed on transfers £5m on Colo alone. It's complex but with MA refusing to put more money in.......I can only see him dropping the asking price to say 50m in the coming weeks. If I was a prospective buyer I hold all the cards and would wait it out. I'm no expert and just thinking aloud. OK - I can see your point but if a buyer decides to wait for administration the club he will eventually be buying is going to be an even bigger mess (points deduction, players not bought or sold, no manager, no pre season preparation etc). Link to post Share on other sites More sharing options...
jimmymag Posted June 15, 2009 Share Posted June 15, 2009 I don't know if we've got any lawyers or insolvency experts who post on here. It's a complicated area and expert opinions would be interesting. Administration is basically the same process as Chapter 11 in the USA. It allows the company to carry on trading whilst giving it protection from its creditors. An administrator is appointed and his first priority is to find a solution to the company's problems that enable it to carry on trading. If he can't do that he tries to bring about a liquidation that gives the creditors the best possible return. Ashley is by far and away the major creditor of the club, although not the only one as there will be plenty of other people owed money as well. So why does the club need protecting from him? Also a solution to the problem would be a change of ownership and if you think the club has dropped in value since relegation then wait and see what would happen if it went into administration. If it ever got to liquidation you would then get a fire sale of the clubs assets so the money Ashley would get for the players etc would be a fraction of their worth. A further point is that the administration process is expensive, the administrator gets highly paid and his money comes out of the company as a preferred creditor, so basically another drain on the coffers. As it stands I can't see why this would do anything for Ashley, but I'm no expert and Ashley works in weird ways. Agree with all of that. But, after admin the club could be bought for peanuts.....You see my thinking? Not really. The only people who can put the club into administration are the creditors or the directors of the company, both of those bases are covered by Ashley. So he's the only one who can elect for administration and I don't know why he would. There is still the costs concerning running of the club (roughly 20m every 3 months) and monies owed on transfers £5m on Colo alone. It's complex but with MA refusing to put more money in.......I can only see him dropping the asking price to say 50m in the coming weeks. If I was a prospective buyer I hold all the cards and would wait it out. I'm no expert and just thinking aloud. I agree that prospective buyers hold all the aces, and they will probably make Ashley sweat for a while yet in order to get the price down, but administration is not going to happen imo. Link to post Share on other sites More sharing options...
biggs Posted June 15, 2009 Share Posted June 15, 2009 On the way from the airport. Oi wheres the tinhat emoticon for Parky Link to post Share on other sites More sharing options...
Dave Posted June 15, 2009 Share Posted June 15, 2009 Link to post Share on other sites More sharing options...
indi Posted June 15, 2009 Share Posted June 15, 2009 Link to post Share on other sites More sharing options...
Guest fading star Posted June 15, 2009 Share Posted June 15, 2009 Ashley won’t put the club into administration, he’ll just bleed it dry for as long as he can then shut it down. There won’t be any attempt to save the business. Link to post Share on other sites More sharing options...
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