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millsy614

Sheffield Wednesday Fan
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About millsy614

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    Sheffield Wednesday Youth Team
  1. C4 DISPATCHES NOW

    Great ending and classic Robson quote about managing the Blades but I really don't see the problem, other than some schoolground boasts. C4 just thought foreign + money = bad. They stated that all they would do is sell valuable to land to supermarkets (Asda, Sainsburys and Tesco opening massive stores within 5 mins of our training ground), use some contacts within the game to get players on loan, keep the stadium, get promoted and leave when the club is in a better position. Were their aims any different to what Mandaric is doing? Clubs they were after were all mismanaged financially by people who did not know what they were doing and took massive risks. These guys were not going to spend fortunes on players or wages, just take advantage of the market while other clubs sit on massive debts (Preston, Wigan, Bolton, Donny, Coventry) with no way out.
  2. Question re: administration

    1.) No, admin does not effect contracts - Players can opt out of contracts if they don't get paid after so long but they are not near that. 2.) More than £15M secured/prioirty debt (LLoyds, Agilo, 'football' debts). Further £1.2M to HMRC who are near the bottom of the pile. Palace made a recent appeal for about £7.5M to pay off the debt they could no longer service. Admin will seek to recover some of that if there is value in the security. Probably only HMRC will then go against a CVA but they do not hold enough debt to block it. One of the creditors has a charge over the player's contracts and have first proceeds of sales - as its this creditor that appears to have initiated admin, expect sales soon.
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