bronxowl Posted July 30, 2010 Share Posted July 30, 2010 There's only one reason the board are ignoring it, they want the creditors to put the club into administration. Link to comment Share on other sites More sharing options...
Anthndav Posted July 30, 2010 Share Posted July 30, 2010 There's only one reason the board are ignoring it, they want the creditors to put the club into administration. And the creditors lose everything. Great logic. Link to comment Share on other sites More sharing options...
Furious George Posted July 30, 2010 Share Posted July 30, 2010 If someone offered you £50,000 for a house valued at £200,000 would you accept that if it was the only bid on the table? Are you suggesting our club is worth 12m down? 3rd tier, 30m debts a court date and unable to pay 500k tax bill without asset stripping? Hmmmm. Link to comment Share on other sites More sharing options...
Guest fatherjack Posted July 30, 2010 Share Posted July 30, 2010 its friday Link to comment Share on other sites More sharing options...
Furious George Posted July 30, 2010 Share Posted July 30, 2010 this is the same bid isn't it? and given that the board did not even acknowledge the last one why do you think this will be any different? Perhaps its the backing of the bank? Link to comment Share on other sites More sharing options...
Doctor Duran Posted July 30, 2010 Share Posted July 30, 2010 this is the same bid isn't it? and given that the board did not even acknowledge the last one why do you think this will be any different? Not sure .. was it £2m upfront last time ? This time they have DH onboard with ££££ backing.. I'm not ITK, just heard this on Radio Sheffield on my way into work.. Link to comment Share on other sites More sharing options...
theowlsman Posted July 30, 2010 Share Posted July 30, 2010 If the club did go into administration would the existing incumbents be able to bid for it afterwards, if they had a few friends with some dosh? I don't know, I'm only asking. Link to comment Share on other sites More sharing options...
Aingarth Posted July 30, 2010 Share Posted July 30, 2010 I know we are now desperate. The tax saga indicates that it will be hand to mouth all season. But the numbers being talked about still do not make sense. Remember that in 1997, Charterhouse effectively gave the club £18m. That got spent and within 5 years we were another £23m in debt. That was £41m gone. There are some noughts missing in the figures I see to make this a proper way forward. Link to comment Share on other sites More sharing options...
Otto_Man Posted July 30, 2010 Share Posted July 30, 2010 As the only offer on the table how could the board possibly turn it down ? Who says it's the only offer on the table? Link to comment Share on other sites More sharing options...
Bob Posted July 30, 2010 Share Posted July 30, 2010 Perhaps its the backing of the bank? If the Bank have backed this bid, it will be very difficult for the Board to reject it. Pressure from the Co-op may just tip the odds towards Cloud9. If this alleged latest bid is rejected, the Bank could get very nasty. Link to comment Share on other sites More sharing options...
senwar Posted July 30, 2010 Share Posted July 30, 2010 Are you suggesting our club is worth 12m down? 3rd tier, 30m debts a court date and unable to pay 500k tax bill without asset stripping? Hmmmm. No. I'm suggesting his logic was fcckin stupid Link to comment Share on other sites More sharing options...
Furious George Posted July 30, 2010 Share Posted July 30, 2010 I know we are now desperate. The tax saga indicates that it will be hand to mouth all season. But the numbers being talked about still do not make sense. Remember that in 1997, Charterhouse effectively gave the club £18m. That got spent and within 5 years we were another £23m in debt. That was £41m gone. There are some noughts missing in the figures I see to make this a proper way forward. Completely incomparable situations. Link to comment Share on other sites More sharing options...
De Bilde Posted July 30, 2010 Share Posted July 30, 2010 Co-Op are putting massive pressure on the board now to look seriously at the offer, the bank are happy with the proof of funds. Maybe the shrareholders and loan note holders are better of getting a little bit of something rather and a little bit of nothing Link to comment Share on other sites More sharing options...
p.c guru Posted July 30, 2010 Share Posted July 30, 2010 I wonder if they've show proof of funding? That was the reason given for ignoring it last time. Link to comment Share on other sites More sharing options...
Furious George Posted July 30, 2010 Share Posted July 30, 2010 No. I'm suggesting his logic was fcckin stupid Fair enough. What if your house was worth 50k, it was falling to bits around you, you couldn't afford the bills and somebody offered you 200k for it? Link to comment Share on other sites More sharing options...
senwar Posted July 30, 2010 Share Posted July 30, 2010 Fair enough. What if your house was worth 50k, it was falling to bits around you, you couldn't afford the bills and somebody offered you 200k for it? I'd throw the wife in as part of the deal Link to comment Share on other sites More sharing options...
Furious George Posted July 30, 2010 Share Posted July 30, 2010 I'd throw the wife in as part of the deal Leave Bob out of this. Link to comment Share on other sites More sharing options...
senwar Posted July 30, 2010 Share Posted July 30, 2010 Leave Bob out of this. Link to comment Share on other sites More sharing options...
Rogers Posted July 30, 2010 Share Posted July 30, 2010 SHITSTORM FRIDAY HAS COMMENCED. The occurance of shitstorm Fridays are now so regular that they need to be officially put on calenders. Maybe have a annual shitstorm Friday bank holiday for Wednesday supportors only, given to us in compensation for our misery. Link to comment Share on other sites More sharing options...
RobHowe Posted July 30, 2010 Share Posted July 30, 2010 YAWN............. Link to comment Share on other sites More sharing options...
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