mrmojorisin75 Posted March 14, 2018 Share Posted March 14, 2018 Contracts will be ripped up. A new club would be so far down the pyramid they'd likely not be able to support any of their current professional contracts, and that includes U23's. You're talking insolvency and winding up surely, admin is different no? Link to post Share on other sites More sharing options...
Paully Posted March 14, 2018 Share Posted March 14, 2018 M.I.P..... https://www.readytogo.net/smb/threads/england-team-announced-tomorrow.1422487/ Link to post Share on other sites More sharing options...
HaydnNUFC Posted March 14, 2018 Share Posted March 14, 2018 That "Bear" is so tragically bitter. What a fucking wanker. Link to post Share on other sites More sharing options...
afar Posted March 14, 2018 Share Posted March 14, 2018 M.I.P..... https://www.readytogo.net/smb/threads/england-team-announced-tomorrow.1422487/ The guy is such a prick, why bother posting thread like that on there, you know what crap you are going to get Link to post Share on other sites More sharing options...
afar Posted March 14, 2018 Share Posted March 14, 2018 Contracts will be ripped up. A new club would be so far down the pyramid they'd likely not be able to support any of their current professional contracts, and that includes U23's. You're talking insolvency and winding up surely, admin is different no? Aye I think MrM is right insolvency is a little different. Boro for example went into administration and retained there 3rd division league status when the new club was formed, as have other clubs like Southampton and such. In terms of taking the hit this year on the points deduction, they changed the rules apparently to stop teams doing this and if they decalred administration now they still take the points deduction next season (and possibly also this season too). Link to post Share on other sites More sharing options...
xLiaaamx Posted March 14, 2018 Share Posted March 14, 2018 Oh, if it's a new club that's technically the same club, I believe it's up to the players. It was for rangers at least, they could walk away from their contracts for nothing or keep them. Link to post Share on other sites More sharing options...
Jackie Broon Posted March 14, 2018 Share Posted March 14, 2018 I have a question: If they go into administration , and assuming the usual thing happens and a new club is born. What happens to the players contracts? People like Rodwell and Cattermole are the reason they will never get out of the mess they are in. Do the contracts get ripped up and they effectively free themselves of these leaches and adversely open up the way for their better players to be poached for free to other clubs (not that they have many of the type anyone would want) ? On this note would it make sense for them to go into admin this season when they're all but dead but not quite? Get the penalty this season rather than next. I have no pretense to be a financial expert, but what I have gleaned is... It is currently costing Short £20m per season to keep the club afloat and he wants rid as soon as possible. He is willing to virtually give the club away to anyone willing to take on the club and its other £30m of debt secured against the parachute payments, writing off the remaining debt owed to his company. Administration would allow Short to simply walk away, the administrators would look to find a new owner, who would be liable to pay the secured creditors (including the £30m) and 30% of what is owed to the unsecured creditors (including Short's company). Going into administration before the 22nd deadline would mean that the club doesn't end going into next season with a points deduction, which would almost certainly lessen the chances of finding a buyer. Unless I'm completely wrong in the above (which is a distinct possibility) if relegation is still looking inevitable on the 22nd there may be significant benefits for Short in pulling the plug and putting the club into administration. Link to post Share on other sites More sharing options...
HaydnNUFC Posted March 14, 2018 Share Posted March 14, 2018 Remember this? Link to post Share on other sites More sharing options...
afar Posted March 15, 2018 Share Posted March 15, 2018 Remember this? Funny enough, that bloke who posted that hilarious pile of crap, is the one talking the most sense on there at the moment. Link to post Share on other sites More sharing options...
Scoot Posted March 15, 2018 Share Posted March 15, 2018 The bitter shite on there about Lascelles man. "You's think he's the new Bobby Moore" "World class Lascelles" Such a bunch of fucking spastics like. Link to post Share on other sites More sharing options...
Paully Posted March 15, 2018 Share Posted March 15, 2018 Remember this? :lol: :lol: I'm sure he comes across fairly well from what I've read on there lately too! Link to post Share on other sites More sharing options...
Darth Crooks Posted March 15, 2018 Share Posted March 15, 2018 Every time Link to post Share on other sites More sharing options...
robm Posted March 15, 2018 Share Posted March 15, 2018 I have a question: If they go into administration , and assuming the usual thing happens and a new club is born. What happens to the players contracts? People like Rodwell and Cattermole are the reason they will never get out of the mess they are in. Do the contracts get ripped up and they effectively free themselves of these leaches and adversely open up the way for their better players to be poached for free to other clubs (not that they have many of the type anyone would want) ? On this note would it make sense for them to go into admin this season when they're all but dead but not quite? Get the penalty this season rather than next. I have no pretense to be a financial expert, but what I have gleaned is... It is currently costing Short £20m per season to keep the club afloat and he wants rid as soon as possible. He is willing to virtually give the club away to anyone willing to take on the club and its other £30m of debt secured against the parachute payments, writing off the remaining debt owed to his company. Administration would allow Short to simply walk away, the administrators would look to find a new owner, who would be liable to pay the secured creditors (including the £30m) and 30% of what is owed to the unsecured creditors (including Short's company). Going into administration before the 22nd deadline would mean that the club doesn't end going into next season with a points deduction, which would almost certainly lessen the chances of finding a buyer. Unless I'm completely wrong in the above (which is a distinct possibility) if relegation is still looking inevitable on the 22nd there may be significant benefits for Short in pulling the plug and putting the club into administration. The external debt is £68million secured against the parachute payments isn't it? The rest of the debt is owed to Short so he would be writing his own money off which doesn't make sense to me. Link to post Share on other sites More sharing options...
ianovthetoon Posted March 15, 2018 Share Posted March 15, 2018 Is the debt going to be paid off by the parachute payments though? Their wage bill is rumoured to be circa 40m at present, they’ll be getting next to nothing from sponsorship and gate receipts. Link to post Share on other sites More sharing options...
Raconteur Posted March 15, 2018 Share Posted March 15, 2018 I have a question: If they go into administration , and assuming the usual thing happens and a new club is born. What happens to the players contracts? People like Rodwell and Cattermole are the reason they will never get out of the mess they are in. Do the contracts get ripped up and they effectively free themselves of these leaches and adversely open up the way for their better players to be poached for free to other clubs (not that they have many of the type anyone would want) ? On this note would it make sense for them to go into admin this season when they're all but dead but not quite? Get the penalty this season rather than next. I have no pretense to be a financial expert, but what I have gleaned is... It is currently costing Short £20m per season to keep the club afloat and he wants rid as soon as possible. He is willing to virtually give the club away to anyone willing to take on the club and its other £30m of debt secured against the parachute payments, writing off the remaining debt owed to his company. Administration would allow Short to simply walk away, the administrators would look to find a new owner, who would be liable to pay the secured creditors (including the £30m) and 30% of what is owed to the unsecured creditors (including Short's company). Going into administration before the 22nd deadline would mean that the club doesn't end going into next season with a points deduction, which would almost certainly lessen the chances of finding a buyer. Unless I'm completely wrong in the above (which is a distinct possibility) if relegation is still looking inevitable on the 22nd there may be significant benefits for Short in pulling the plug and putting the club into administration. The external debt is £68million secured against the parachute payments isn't it? The rest of the debt is owed to Short so he would be writing his own money off which doesn't make sense to me. Makes perfect sense - he's had enough. He was trying to sell it for a quid (which is effectively the £68million JB was talking about). That's why they can't be sold, because that's a big pile of cash for a fucking shite club staring at League 1. And yeah, it's only mortgaged, but they're bleeding cash. Administration is the smart move if they're punished this season not next - if they wait until next season having been relegated with Premier League wages still on the books then they're completely fucked. Link to post Share on other sites More sharing options...
Jackie Broon Posted March 15, 2018 Share Posted March 15, 2018 I have a question: If they go into administration , and assuming the usual thing happens and a new club is born. What happens to the players contracts? People like Rodwell and Cattermole are the reason they will never get out of the mess they are in. Do the contracts get ripped up and they effectively free themselves of these leaches and adversely open up the way for their better players to be poached for free to other clubs (not that they have many of the type anyone would want) ? On this note would it make sense for them to go into admin this season when they're all but dead but not quite? Get the penalty this season rather than next. I have no pretense to be a financial expert, but what I have gleaned is... It is currently costing Short £20m per season to keep the club afloat and he wants rid as soon as possible. He is willing to virtually give the club away to anyone willing to take on the club and its other £30m of debt secured against the parachute payments, writing off the remaining debt owed to his company. Administration would allow Short to simply walk away, the administrators would look to find a new owner, who would be liable to pay the secured creditors (including the £30m) and 30% of what is owed to the unsecured creditors (including Short's company). Going into administration before the 22nd deadline would mean that the club doesn't end going into next season with a points deduction, which would almost certainly lessen the chances of finding a buyer. Unless I'm completely wrong in the above (which is a distinct possibility) if relegation is still looking inevitable on the 22nd there may be significant benefits for Short in pulling the plug and putting the club into administration. The external debt is £68million secured against the parachute payments isn't it? The rest of the debt is owed to Short so he would be writing his own money off which doesn't make sense to me. He's indicated that he would give the club away to anyone willing to take on the debt, and may be willing to write off his part of the debt as part of that. www.bbc.co.uk/sport/amp/football/43157628 Realistically he'll know he is not getting that money back, the club is a money pit and is just going to cost him more and more millions the longer he owns it. It makes perfect sense to for him to want to cut his losses. Link to post Share on other sites More sharing options...
robm Posted March 15, 2018 Share Posted March 15, 2018 I have a question: If they go into administration , and assuming the usual thing happens and a new club is born. What happens to the players contracts? People like Rodwell and Cattermole are the reason they will never get out of the mess they are in. Do the contracts get ripped up and they effectively free themselves of these leaches and adversely open up the way for their better players to be poached for free to other clubs (not that they have many of the type anyone would want) ? On this note would it make sense for them to go into admin this season when they're all but dead but not quite? Get the penalty this season rather than next. I have no pretense to be a financial expert, but what I have gleaned is... It is currently costing Short £20m per season to keep the club afloat and he wants rid as soon as possible. He is willing to virtually give the club away to anyone willing to take on the club and its other £30m of debt secured against the parachute payments, writing off the remaining debt owed to his company. Administration would allow Short to simply walk away, the administrators would look to find a new owner, who would be liable to pay the secured creditors (including the £30m) and 30% of what is owed to the unsecured creditors (including Short's company). Going into administration before the 22nd deadline would mean that the club doesn't end going into next season with a points deduction, which would almost certainly lessen the chances of finding a buyer. Unless I'm completely wrong in the above (which is a distinct possibility) if relegation is still looking inevitable on the 22nd there may be significant benefits for Short in pulling the plug and putting the club into administration. The external debt is £68million secured against the parachute payments isn't it? The rest of the debt is owed to Short so he would be writing his own money off which doesn't make sense to me. Makes perfect sense - he's had enough. He was trying to sell it for a quid (which is effectively the £68million JB was talking about). That's why they can't be sold, because that's a big pile of cash for a fucking shite club staring at League 1. And yeah, it's only mortgaged, but they're bleeding cash. Administration is the smart move if they're punished this season not next - if they wait until next season having been relegated with Premier League wages still on the books then they're completely fucked. But he could easily write his own debt off anyway by converting it to shares as I understand it without the points deduction. He can't write off the external debt so what does he gain? Link to post Share on other sites More sharing options...
Jackie Broon Posted March 15, 2018 Share Posted March 15, 2018 He gains from administration in that it would allow him to just walk away from the club. Otherwise he has to find someone to take it off his hands, which isn't looking likely. Link to post Share on other sites More sharing options...
SteV Posted March 15, 2018 Share Posted March 15, 2018 There's no way they go into administration. At least not this year anyway. Short isn't just going to write off somewhere in the region of 50 - 100M (which is what's owed to him/his company) just because he can't be bothered with the hassle anymore. All the cost-cutting that they've been doing is an exercise in making sure they are able to avoid administration. The parachute payment for this year will have covered the running costs and hopefully from there point of view, paid off a little of the external debt/loan to that American company. There's an potentially an issue next summer when that loan is supposed to be repaid, but in all likelihood they'll be able to refinance what's left of it (albeit at a worse rate) and they'll just continue on. No administration but no investment and no hope unless they can find a buyer who's capable and willing to pay off the debt. Which gets more unlikely the further they sink. Link to post Share on other sites More sharing options...
cp40 Posted March 15, 2018 Share Posted March 15, 2018 There's no way they go into administration. At least not this year anyway. Short isn't just going to write off somewhere in the region of 50 - 100M (which is what's owed to him/his company) just because he can't be bothered with the hassle anymore. All the cost-cutting that they've been doing is an exercise in making sure they are able to avoid administration. The parachute payment for this year will have covered the running costs and hopefully from there point of view, paid off a little of the external debt/loan to that American company. There's an potentially an issue next summer when that loan is supposed to be repaid, but in all likelihood they'll be able to refinance what's left of it (albeit at a worse rate) and they'll just continue on. No administration but no investment and no hope unless they can find a buyer who's capable and willing to pay off the debt. Which gets more unlikely the further they sink. isnt it worthless at the moment and losing him £2m a month? and only going to get worse. Link to post Share on other sites More sharing options...
Jackie Broon Posted March 15, 2018 Share Posted March 15, 2018 There's no way they go into administration. At least not this year anyway. Short isn't just going to write off somewhere in the region of 50 - 100M (which is what's owed to him/his company) just because he can't be bothered with the hassle anymore. All the cost-cutting that they've been doing is an exercise in making sure they are able to avoid administration. The parachute payment for this year will have covered the running costs and hopefully from there point of view, paid off a little of the external debt/loan to that American company. There's an potentially an issue next summer when that loan is supposed to be repaid, but in all likelihood they'll be able to refinance what's left of it (albeit at a worse rate) and they'll just continue on. No administration but no investment and no hope unless they can find a buyer who's capable and willing to pay off the debt. Which gets more unlikely the further they sink. There's no way they go into administration. At least not this year anyway. Short isn't just going to write off somewhere in the region of 50 - 100M (which is what's owed to him/his company) just because he can't be bothered with the hassle anymore. All the cost-cutting that they've been doing is an exercise in making sure they are able to avoid administration. The parachute payment for this year will have covered the running costs and hopefully from there point of view, paid off a little of the external debt/loan to that American company. There's an potentially an issue next summer when that loan is supposed to be repaid, but in all likelihood they'll be able to refinance what's left of it (albeit at a worse rate) and they'll just continue on. No administration but no investment and no hope unless they can find a buyer who's capable and willing to pay off the debt. Which gets more unlikely the further they sink. "Around half of the debt, £69m, is owed to the London-based businessman personally and it is thought the billionaire may forego some or all of that figure as part of any deal." http://www.bbc.co.uk/sport/amp/football/43157628 Link to post Share on other sites More sharing options...
Benwell Lad Posted March 15, 2018 Share Posted March 15, 2018 Basically they're fucked whichever way they turn. Years of reckless spending have left them so vulnerable that even the panic measures they're now implementing are way too late. Living way above your means always gets you eventually. It's left to the narcissist twins Coleman and Bain to make brave noises, but they know as well as anyone that the dross on the pitch is currently the least of their worries. Link to post Share on other sites More sharing options...
STM Posted March 15, 2018 Share Posted March 15, 2018 They could have least signed some decent players before they did a Leeds. Link to post Share on other sites More sharing options...
David Icke - Son of God Posted March 15, 2018 Share Posted March 15, 2018 I have a question: If they go into administration , and assuming the usual thing happens and a new club is born. What happens to the players contracts? People like Rodwell and Cattermole are the reason they will never get out of the mess they are in. Do the contracts get ripped up and they effectively free themselves of these leaches and adversely open up the way for their better players to be poached for free to other clubs (not that they have many of the type anyone would want) ? On this note would it make sense for them to go into admin this season when they're all but dead but not quite? Get the penalty this season rather than next. I have no pretense to be a financial expert, but what I have gleaned is... It is currently costing Short £20m per season to keep the club afloat and he wants rid as soon as possible. He is willing to virtually give the club away to anyone willing to take on the club and its other £30m of debt secured against the parachute payments, writing off the remaining debt owed to his company. Administration would allow Short to simply walk away, the administrators would look to find a new owner, who would be liable to pay the secured creditors (including the £30m) and 30% of what is owed to the unsecured creditors (including Short's company). Going into administration before the 22nd deadline would mean that the club doesn't end going into next season with a points deduction, which would almost certainly lessen the chances of finding a buyer. Unless I'm completely wrong in the above (which is a distinct possibility) if relegation is still looking inevitable on the 22nd there may be significant benefits for Short in pulling the plug and putting the club into administration. The external debt is £68million secured against the parachute payments isn't it? The rest of the debt is owed to Short so he would be writing his own money off which doesn't make sense to me. Nor, the debt is secured against the SoL, the training ground and a certain amount of equity in the club. Link to post Share on other sites More sharing options...
sleazy Posted March 15, 2018 Share Posted March 15, 2018 Mackem at work (kinda like a mag at work but real), reckons theres to be some big announcement today. As much as I am enjoying their plummet I'm not sure I'd like to see them go out of business (which I dont think would happen). Link to post Share on other sites More sharing options...
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