soldierboyblue Posted July 24, 2020 Share Posted July 24, 2020 3 minutes ago, Grandad said: If (its a big IF) he put us into admin - he could quite feasibly insist that any comany buying us out of admin pay £5m a year rent for the stadium (or any amount he deems reasonable) Don't say it can't happen. Thats what happened at Coventry It can happen but as has already been stated the new club doesn't have to take the option Link to comment Share on other sites More sharing options...
nbupperthongowl Posted July 24, 2020 Share Posted July 24, 2020 Just now, Essix Blue said: So the club would be homeless True, all depends on the plans of the new owners....£5m pa to rent Hillsborough indefinitely v £xm for a new stadium.... difficult call to make Coventry is s good example Link to comment Share on other sites More sharing options...
room0035 Posted July 24, 2020 Share Posted July 24, 2020 10 minutes ago, Royal_D said: Correct, but he’s unlikely to see a penny of that money anyway unless he finds a buyer , meanwhile he’s pumping millions a month in .. again... not scaremongering , just seeing both sides Dont forget also that the EFL accused him of misconduct and if they had won that case they would have likely advocated the IDP give him a ban from the game , though he did win that case if they rule guilty against the club he’s the type of bloke to take it very personally Also DC could create bigger issues for himself if he put the club into administration and the appointed administrators, would look to all of the club debtors to get full payments in to pay the clubs creditors. So the £60m debtor sitting in the account to be paid for the purchase of the club would need to be paid in full before any of the creditors could be paid, then DC would not get this figure back first the trade Creditors, tax man and other bodies would be paid before shareholders, depending how many debts the club has other than DC, Administration could cost DC millions and not include his investment in the club being effectively worth nil. 2 Link to comment Share on other sites More sharing options...
NorthernOwl Posted July 24, 2020 Share Posted July 24, 2020 7 minutes ago, Royal_D said: Correct, but he’s unlikely to see a penny of that money anyway unless he finds a buyer , meanwhile he’s pumping millions a month in .. again... not scaremongering , just seeing both sides Dont forget also that the EFL accused him of misconduct and if they had won that case they would have likely advocated the IDP give him a ban from the game , though he did win that case if they rule guilty against the club he’s the type of bloke to take it very personally Good point. Isn't he losing almost 4 million a month at the moment? Given the clubs probably only worth around 20 million it's easy to see why administration could be considered an attractive option. Link to comment Share on other sites More sharing options...
sonofbert2 Posted July 24, 2020 Share Posted July 24, 2020 (edited) Coventry never owned their stadium. They were always tenants I think. https://en.m.wikipedia.org/wiki/Ricoh_Arena Edited July 24, 2020 by sonofbert2 Link to comment Share on other sites More sharing options...
Guest Posted July 24, 2020 Share Posted July 24, 2020 1 minute ago, room0035 said: Also DC could create bigger issues for himself if he put the club into administration and the appointed administrators, would look to all of the club debtors to get full payments in to pay the clubs creditors. So the £60m debtor sitting in the account to be paid for the purchase of the club would need to be paid in full before any of the creditors could be paid, then DC would not get this figure back first the trade Creditors, tax man and other bodies would be paid before shareholders, depending how many debts the club has other than DC, Administration could cost DC millions and not include his investment in the club being effectively worth nil. Wouldn’t surprise me if he would look for a way of making that ground sale null and void, not saying there would be a way , but be interesting to see if he tried Link to comment Share on other sites More sharing options...
soldierboyblue Posted July 24, 2020 Share Posted July 24, 2020 3 minutes ago, room0035 said: Also DC could create bigger issues for himself if he put the club into administration and the appointed administrators, would look to all of the club debtors to get full payments in to pay the clubs creditors. So the £60m debtor sitting in the account to be paid for the purchase of the club would need to be paid in full before any of the creditors could be paid, then DC would not get this figure back first the trade Creditors, tax man and other bodies would be paid before shareholders, depending how many debts the club has other than DC, Administration could cost DC millions and not include his investment in the club being effectively worth nil. Which is why I said that he will get nowt! Link to comment Share on other sites More sharing options...
Guest Posted July 24, 2020 Share Posted July 24, 2020 3 minutes ago, NorthernOwl said: Good point. Isn't he losing almost 4 million a month at the moment? Given the clubs probably only worth around 20 million it's easy to see why administration could be considered an attractive option. Around that figure yeh Link to comment Share on other sites More sharing options...
nbupperthongowl Posted July 24, 2020 Share Posted July 24, 2020 Just now, sonofbert2 said: Coventry never owned their stadium. They were always tenants I think. Yes, but they are the worst example of what happens if you don't own your own ground.... wouldn't wish their issues on any team.....well only one Link to comment Share on other sites More sharing options...
vulva Posted July 24, 2020 Share Posted July 24, 2020 If DC does kick us out I hope we find somewhere with better parking. 4 Link to comment Share on other sites More sharing options...
striker Posted July 24, 2020 Share Posted July 24, 2020 For his many faults, as someone who acted so honourably during the lockdown re employees involved with furlough scheme for example, doesnt sound like we're likely to be put into administration. Whether DC has lost interest and may seek an exit once EFL case is concluded, could be a possibility. Didn't seem bothered after Bruce left, looked pissed off to be here when unveiling Monk and we haven't seen or heard from him since. 2 Link to comment Share on other sites More sharing options...
soldierboyblue Posted July 24, 2020 Share Posted July 24, 2020 Just now, Royal_D said: Wouldn’t surprise me if he would look for a way of making that ground sale null and void, not saying there would be a way , but be interesting to see if he tried That would be fraudulent as the sale has been ratified. If we are going to speculate lets look at the facts properly here. The Chairman bashers (not aimed at you) have said that he cooked the books which he clearly has not. So how would he null and void a ratified sale? 1 Link to comment Share on other sites More sharing options...
Essix Blue Posted July 24, 2020 Share Posted July 24, 2020 6 minutes ago, soldierboyblue said: HE WOULDN'T GET A PENNY Wow. Caps lock anger No he wouldn’t. I Know. No need to shout. But the club is still losing money. He’s got to put money in just to tread water, that’s without buying players. So - as I’ve said, what’s the club actually worth to him atm? £10m? £20m even? Against what he’s already spent, throwing £20m away and walking off v throwing another £20m or more at the club Link to comment Share on other sites More sharing options...
Guest Posted July 24, 2020 Share Posted July 24, 2020 39 minutes ago, royalowlisback said: Latest rumour is is 15pts docked, 12 for offence, and 3 for aggravated circumstances, if cannot be fought, then DC putting club in admin. 5hit5torm Friday activated... Source, customer that came in shop, whose friend works at ground. Bearing in mind, how many people 'hear rumours' via a friend who works at the ground, the club must employ about 5000 staff, no wonder we are skint..... So since the EFL announced no decision has been made yet only a few days ago, this person has found out what the penalty is, and the breakdown of the penalty points and also knows the inner thoughts of Chansiri on this. The ground is closed, the club shop is closed, most of the people who are employed at the ground are on furlough. Is this person actually Chansiri himself?! 15 minutes ago, royalowlisback said: Did you not get enough breast milk as a kid or summat'? I never said that the rumour was true, the way I guesstimated that the club must have 5000 staff, kind of implied that I think it is round un's. But since when do posts on Owlstalk have to be fact-checked? There would be about 3 posts a day if only true stories were posted, may as well have a link to the os in that case. To be fair, I haven't seen this 'latest rumour' anywhere else and you are the one that has given it air by posting it on here. Link to comment Share on other sites More sharing options...
royalowlisback Posted July 24, 2020 Share Posted July 24, 2020 Just now, hirstyboywonder said: So since the EFL announced no decision has been made yet only a few days ago, this person has found out what the penalty is, and the breakdown of the penalty points and also knows the inner thoughts of Chansiri on this. The ground is closed, the club shop is closed, most of the people who are employed at the ground are on furlough. Is this person actually Chansiri himself?! To be fair, I haven't seen this 'latest rumour' anywhere else and you are the one that has given it air by posting it on here. Chill out man, you sound stressed. Link to comment Share on other sites More sharing options...
soldierboyblue Posted July 24, 2020 Share Posted July 24, 2020 Just now, Essix Blue said: So - as I’ve said, what’s the club actually worth to him atm? £10m? £20m even? Against what he’s already spent, throwing £20m away and walking off v throwing another £20m or more at the club I always try and deal with facts - he has openly stated he is in it for the long run and that at the time money wasn't an issue. There is only 1 person who knows what the club is worth to DC and that is DC himself. I will begin to get worried if he states that he is no longer interested and to this point he has said nothing of the sort. The bedwetting is cringeworthy and we just need to wait and see what the IDP verdict is. 2 Link to comment Share on other sites More sharing options...
Guest Grandad Posted July 24, 2020 Share Posted July 24, 2020 13 minutes ago, nbupperthongowl said: But the new club don't have to take the offer up Absolutely They could play at Owlerton - which would probably be big enough the state we are in Link to comment Share on other sites More sharing options...
Roscoe P. Coltrane Posted July 24, 2020 Share Posted July 24, 2020 What a shambles. Link to comment Share on other sites More sharing options...
Guest Posted July 24, 2020 Share Posted July 24, 2020 1 minute ago, soldierboyblue said: That would be fraudulent as the sale has been ratified. If we are going to speculate lets look at the facts properly here. The Chairman bashers (not aimed at you) have said that he cooked the books which he clearly has not. So how would he null and void a ratified sale? Like I said, i’m not suggesting there would be a way , but it wouldn’t surprise me if he tries to find one ! £60m is a serious chunk to find, and he could hardly call the shots reference rent until he’s paid for the thing could he Link to comment Share on other sites More sharing options...
Inspector Lestrade Posted July 24, 2020 Share Posted July 24, 2020 5 minutes ago, striker said: For his many faults, as someone who acted so honourably during the lockdown re employees involved with furlough scheme for example, doesnt sound like we're likely to be put into administration. Whether DC has lost interest and may seek an exit once EFL case is concluded, could be a possibility. Didn't seem bothered after Bruce left, looked pissed off to be here when unveiling Monk and we haven't seen or heard from him since. Lost interest, would he have employed the best legal minds to defends us if that was the case? 1 Link to comment Share on other sites More sharing options...
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