Chansiri’s final coup de grace

[Mystic Neg]

I'm with you OP.

 

I'm not going or paying to watch them again until DC has gone. This is the final straw.

 

I wont do it for my sanity, for my wallet or my kids health.

 

Toxic club

[daveyboy66]

47 minutes ago, HirstWhoScoredIt said:

What will it be?

 

Administration, League One or both?

If it's the first then the second will surely follow with a 12 points deduction 

[HirstWhoScoredIt]

12 minutes ago, Littleowl74 said:

Can I ask a thicko question. How does the process of going into Administration work? Is it DC that calls it? Or the people you owe money to if not paid? 

It can be both.

 

Creditors can make an application to court - although usually they’d simply issue a winding up petition.

 

A debenture holder can appoint (don’t think we have one, I’d need to check companies House).

 

Or the Directors or shareholders can appoint. (The most common route).

[Grimesthorpian]

15 minutes ago, Littleowl74 said:

Can I ask a thicko question. How does the process of going into Administration work? Is it DC that calls it? Or the people you owe money to if not paid? 

If i remember rightly, apologies if its wrong but It’s a complex process. In a nutshell the club has to enter admin because usually they can’t pay the bills.

In come the administrators (legal bods) who then take everything apart, analyse the club and its trading prospects and pare things down to try any find a buyer...DC will be gone of course. The assets don’t include the players and we don’t own the ground either, so the asset base won’t be massive. If they do find a buyer then the business has to enter a Company Voluntary Arrangement which usually asks creditors to take a hit, so the pie company, prog printers, staff who are owed monies and they’ll be asked to accept 1p in the £ or whatever the assets divided by debt works out at (it’ll be 1p).

If the creditors vote for the CVA - and they will be told that if they don’t then the club will die, big guilt trip - then it proceeds to sale. If they refuse, then the club will likely be liquidated and what’s left doshed out, usually to HMRC and then the prime creditors.

If the sale goes through, we then have a better business model for the club, hopefully a chairman who’s not a nob, and will take to take a big points hit.

It ain’t the end of the world. I remember Rotherham getting the padlocks ready for Millmoor and then came a post admin Tony Stewart...

Phew, need a lie down now.

[gurujuan]

2 minutes ago, Pulcinella said:

Makes you wonder how clubs survived WWII when no clubs played.

Especially when clubs were more dependent on revenue through the gates No tv money back then

[WhiteOwl91]

7 minutes ago, Morepork said:

The situation could only be made worse for me if DC sells us to the Republican Party and installs Trump as top dog.......

Is it bad that I'd snap your hands off at that if it was an option ?

[helmut_rooster]

18 minutes ago, marconi said:

 

If we is going down these line:

 

"He'll never leave"

[HirstWhoScoredIt]

24 minutes ago, Onge said:

 

Are you sure about that? Honestly, I have no faith in the way the club is being run...

I’m not sure no.

 

But we can lose £13m a year and he can put £7m a year on top in. Plus shortfall from lack of crowds is discounted at the moment.

 

Therefore the only way we have FFP issues is if we somehow are losing £20m a year, or more likely if Chansiri can no longer afford to put his £7m in and we are approaching £13m losses.

[Bing Cosby]

He's floundering, throwing good money after bad and doing everything he can to preserve his own ego, even though every decision he makes just sends him/us deeper into the proverbial.

 

This has actually been going on for years, it's just reaching its inevitable destructive conclusion.

[owlinexile]

1 minute ago, gurujuan said:

Especially when clubs were more dependent on revenue through the gates No tv money back then

 

But they also had a fraction of the outgoings.

 

Basically the directors just had to keep the stadium in decent nick for the duration.

[Sergeant Tibbs]

42 minutes ago, hogster said:

All going the way many thought it would, not owning our own ground on top of it all is worrying too.

 

oh and will this speed up my refund?

Forget your refund, you are the last thing on his mind. 
To the club you are a creditor and if we go into administration the fans will be at the bottom of the list.

Sorry to be blunt.

[HirstWhoScoredIt]

18 minutes ago, gurujuan said:

No I was saying, it happens in normal times, but in these difficult times it’s more likely There was a report that some 20 clubs were in danger of going out of business. 

Whilst that is true, we have a club that cannot operate without Chansiri writing cheques.

 

It is his model, he built it.

 

Spend as much as FFP allows.

 

If he can no longer write those cheques, we are screwed.

[Animis]

12 minutes ago, striker said:

The thing is, it shouldn't be difficult.

 

Appoint the right football people, including executive staff and management to protect the owner's investment by implementing a clear strategy.

 

Or, micro manage everything yourself from half way round the world, allowing a failed agent free reign of the club, making decisions on a whim with no control, strategy or oversight.

 

This is what I don't get - why employ and maintain the strategy they have to date; one that's clearly not working and losing £ms.

 

It's almost like they are using the club to wash money and wrap it up with no trace.

[Littleowl74]

4 minutes ago, Grimesthorpian said:

If i remember rightly, apologies if its wrong but It’s a complex process. In a nutshell the club has to enter admin because usually they can’t pay the bills.

In come the administrators (legal bods) who then take everything apart, analyse the club and its trading prospects and pare things down to try any find a buyer...DC will be gone of course. The assets don’t include the players and we don’t own the ground either, so the asset base won’t be massive. If they do find a buyer then the business has to enter a Company Voluntary Arrangement which usually asks creditors to take a hit, so the pie company, prog printers, staff who are owed monies and they’ll be asked to accept 1p in the £ or whatever the assets divided by debt works out at (it’ll be 1p).

If the creditors vote for the CVA - and they will be told that if they don’t then the club will die, big guilt trip - then it proceeds to sale. If they refuse, then the club will likely be liquidated and what’s left doshed out, usually to HMRC and then the prime creditors.

If the sale goes through, we then have a better business model for the club, hopefully a chairman who’s not a nob, and will take to take a big points hit.

It ain’t the end of the world. I remember Rotherham getting the padlocks ready for Millmoor and then came a post admin Tony Stewart...

Phew, need a lie down now.

Cheers. It’s not something I’ve ever been involved with so I appreciate you taking the time to explain. 
You can have a quick lie down can’t think of any more questions at the moment. 

[Jeffjohnsonmyhero]

Spoilt rich boy Chansiri 

[Django]

100% the fans fault

 

If everyone had bought 1867 packages and been nice on Twitter we’d have a £100m sponsorship deal and be on our way to the prem now

 

Hope everyone’s pleased with themselves 

[Mystic Neg]

Just now, Django said:

100% the fans fault

 

If everyone had bought 1867 packages and been nice on Twitter we’d have a £100m sponsorship deal and be on our way to the prem now

 

Hope everyone’s pleased with themselves 

 

You can stick that where the sun don't shine Dejphon

[Sergeant Tibbs]

6 minutes ago, Grimesthorpian said:

If i remember rightly, apologies if its wrong but It’s a complex process. In a nutshell the club has to enter admin because usually they can’t pay the bills.

In come the administrators (legal bods) who then take everything apart, analyse the club and its trading prospects and pare things down to try any find a buyer...DC will be gone of course. The assets don’t include the players and we don’t own the ground either, so the asset base won’t be massive. If they do find a buyer then the business has to enter a Company Voluntary Arrangement which usually asks creditors to take a hit, so the pie company, prog printers, staff who are owed monies and they’ll be asked to accept 1p in the £ or whatever the assets divided by debt works out at (it’ll be 1p).

If the creditors vote for the CVA - and they will be told that if they don’t then the club will die, big guilt trip - then it proceeds to sale. If they refuse, then the club will likely be liquidated and what’s left doshed out, usually to HMRC and then the prime creditors.

If the sale goes through, we then have a better business model for the club, hopefully a chairman who’s not a nob, and will take to take a big points hit.

It ain’t the end of the world. I remember Rotherham getting the padlocks ready for Millmoor and then came a post admin Tony Stewart...

Phew, need a lie down now.

That’s a fair assessment of it. We now have to look long term and hope a sensible business person / group can see some potential in our club - covid will probability ensure that this would take longer than normal as there is limited income in football right now and investors are able to pick and choose: there will be other clubs ripe for the picking.

 

DC has shown to be stubborn so might continue to drag this out, he’s not in a rush for money. Whilst he’s here he’ll do it his way, his way has led us to where we are. Many of us wish he’d go immediately but that’s just not practical. 

[SallyCinnamon]

I was going to do a timeline of all DC’s ******** ups, gaffes and questionable decisions over the past 5 years but it would be too depressing. Plus I’m sure to miss something out because there has been that many. 

[torryowl]

Just now, gurujuan said:

Especially when clubs were more dependent on revenue through the gates No tv money back then

all the players went part time ..the wage bill in 1938 was £15k by 1941 it was £1,355........by 1943 the club actually made a profit of £3,099.....eric  taylor knew how to run a football club