Flyer Posted 21 January, 2009 Share Posted 21 January, 2009 I thought all player's contracts were effectively invalidated on entering adminsitration. Nope, the good players will leave to earn more money and any reasonable offer will be accepted and the overpaid ones will stay because they wont receive a better offer elsewhere. If Saints cant pay the contracts, then any player can leave on a free if they wish, of course the likes of Euell will stay on. Link to comment Share on other sites More sharing options...
Bailey Posted 21 January, 2009 Share Posted 21 January, 2009 Suppose i asked for that. Ha sorry Stevo, couldn't resist. Just messing with ya mate! Link to comment Share on other sites More sharing options...
Amesbury Saint Posted 21 January, 2009 Share Posted 21 January, 2009 very sad if it happens. but there will still be a Saints. Perhaps not as we know it today. So COYR Link to comment Share on other sites More sharing options...
eelpie Posted 21 January, 2009 Share Posted 21 January, 2009 5000 less on home gates for whatever reason plus three big millstones round our necks that we haven't been able to shift for love nor money. One came back and tipped the scales. This is patently why Lowe's PR machine has started a campaign in the media blaming the 'absent' fans for our troubles. Link to comment Share on other sites More sharing options...
alpine_saint Posted 21 January, 2009 Share Posted 21 January, 2009 Does anyone know how Voluntary Administration works? I've heard that Lowe could put us into Voluntary Administration and do a deal to reschedule and or reduce our debts with the major creditors (Barclays and Aviva) either before or during this period and then bring us out of Administration by a Company Voluntary Agreement (CVA). I believe this is what David Sheepshanks did at Ipswich and he remained Chairman afterwards: http://news.bbc.co.uk/sport1/hi/football/teams/i/ipswich_town/2950192.stm I had rather hoped that if we had to go through administration, at least we would see the back of Lowe and Wilde but perhaps we won't. Does anyone know more? As I wrote elsewhere, this is just about as bad as things can be. Lowe still here, and the club completely gutted and asset-stripped. I think I will give up with SFC if this happens. It's already an empty shell, a shaodw of its former self.. Link to comment Share on other sites More sharing options...
alpine_saint Posted 21 January, 2009 Share Posted 21 January, 2009 very sad if it happens. but there will still be a Saints. Perhaps not as we know it today. So COYR The SFC we know and love is already gone. It's like a car-crash victim in a coma, kept alive by a life-support machine. Link to comment Share on other sites More sharing options...
Windmill Arm 2 Posted 21 January, 2009 Share Posted 21 January, 2009 This is absolutely reliable - PLC board will announce 1st week of Feb that company is entering administration. This is info I have obtained this afternoon from a wholly credible source. An absolutely massive blow, as I read this as relegation now a certainty. While it may in the long term prove a blessing in disguise, this will prove the absolutely bottom point we have reached for many decades. I am gutted tonight Is it just me, or is there absolutley no surprise in the above statement? THANKS RUPERT, GOOD JOB, NOW FUKK OFF!!!!!!!! :smt078 THE ABOVE STATEMENT IS A REFLECTION OF WINDMILL ARM 2's OPINION, AND NOT THE OPINION SAINTSWEB Link to comment Share on other sites More sharing options...
derry Posted 21 January, 2009 Share Posted 21 January, 2009 So the club is going into administration. I'm sure Rupert and Michael have the clubs interest and future at heart. We know that they can't invest to save the club, but there is something else they could do. The shares in the club would be worthless if we go into administration. That means that they would be in a good position to help the club. They should donate their and their supporters shares, and ask every shareholder to donate theirs to Leon Crouch, who will pay £2m off the bank debt in receipt. Crouch will then own the club and the rest can exit stage left, and we don't go into administration. So come on Rupert, Michael for the good of the club, how about it? Link to comment Share on other sites More sharing options...
$$$ Posted 21 January, 2009 Share Posted 21 January, 2009 As I wrote elsewhere, this is just about as bad as things can be. Lowe still here, and the club completely gutted and asset-stripped. I think I will give up with SFC if this happens. It's already an empty shell, a shaodw of its former self.. Every cloud... :smt044 Link to comment Share on other sites More sharing options...
eelpie Posted 21 January, 2009 Share Posted 21 January, 2009 The timing of it probably means that some-one has given us until Xth February to pay a debt we can't afford to pay.To protect the company from legal action to obtain reparation of only that debt we ask to go into administration. Everything goes on hold and the debtor who has started proceedings has to wait like everybody else. Otherwise we might not be able to pay our staff becuase the court has ordered us to sell Jacksons Farm (for example) to pay the 15p we owe the printer. Perhaps the one good thing of going into administration earlier is that there will be less owing to HMRC, so that hopefully we are able to pay off all tax beforehand, thus preventing the further 17 points deduction. Anyone? Link to comment Share on other sites More sharing options...
benjii Posted 21 January, 2009 Share Posted 21 January, 2009 Does anyone know how Voluntary Administration works? I've heard that Lowe could put us into Voluntary Administration and do a deal to reschedule and or reduce our debts with the major creditors (Barclays and Aviva) either before or during this period and then bring us out of Administration by a Company Voluntary Agreement (CVA). I believe this is what David Sheepshanks did at Ipswich and he remained Chairman afterwards: http://news.bbc.co.uk/sport1/hi/football/teams/i/ipswich_town/2950192.stm I had rather hoped that if we had to go through administration, at least we would see the back of Lowe and Wilde but perhaps we won't. Does anyone know more? The directors would be likely to place the company into voluntary administration if they believed it was insolvent and trading. There are potential consequences for them if they trade insolvently. If we are relying on selling players in January and we cannot do so then there's nothing surprising about hearing that wheels may be put in motion for readyness at the end of the window. As for a CVA - they generally do not work. In any case, it would be Aviva calling the shots in such a scenario rather than Lowe. The board can force their hand by voluntarily entering insolvency proceedings but they can't make them accept an offer. I believe Barclays are an unsecured creditor so are down the pecking order. Link to comment Share on other sites More sharing options...
eelpie Posted 21 January, 2009 Share Posted 21 January, 2009 So the club is going into administration. I'm sure Rupert and Michael have the clubs interest and future at heart. We know that they can't invest to save the club, but there is something else they could do. The shares in the club would be worthless if we go into administration. That means that they would be in a good position to help the club. They should donate their and their supporters shares, and ask every shareholder to donate theirs to Leon Crouch, who will pay £2m off the bank debt in receipt. Crouch will then own the club and the rest can exit stage left, and we don't go into administration. So come on Rupert, Michael for the good of the club, how about it? All available monies should be used to pay off all tax due imo, so that we are not deducted 17 points as well. Link to comment Share on other sites More sharing options...
ottery st mary Posted 21 January, 2009 Share Posted 21 January, 2009 I have many contacts in the city and I am a great mate of Loweys ( i sounded like jonah the computer mechanic then carrying my financial times under my arm) All I can ascertain, is that someone is playing silly buggers and we are being fed bull****tteee. But this group at Stoy Hayward were no better than the rest, in seeing the recent happenings, in the financial crash. Wait to see if I can get more. Where is jonah when you need him....Being briefed by the top man no doubt...expect a financial bollllocking soon peeps. Have we not sold off the painting yet. It must be worth a fortune , the photographer only did 500...ours is numbered at 275, is it not. Link to comment Share on other sites More sharing options...
alpine_saint Posted 21 January, 2009 Share Posted 21 January, 2009 Perhaps the one good thing of going into administration earlier is that there will be less owing to HMRC, so that hopefully we are able to pay off all tax beforehand, thus preventing the further 17 points deduction. Anyone? Who knows ? You can be sure that Lowe knows every trick in the book though. I am glad that the City is going tits-up. It's just full of people who have learnt how to shaft other innocent people Link to comment Share on other sites More sharing options...
SaintRobbie Posted 21 January, 2009 Share Posted 21 January, 2009 Is it just me, or is there absolutley no surprise in the above statement? THANKS RUPERT, GOOD JOB, NOW FUKK OFF!!!!!!!! :smt078 THE ABOVE STATEMENT IS A REFLECTION OF WINDMILL ARM 2's OPINION, AND NOT THE OPINION SAINTSWEB LOL! Very good Windmill, very good! Link to comment Share on other sites More sharing options...
Weston Saint Posted 21 January, 2009 Share Posted 21 January, 2009 I have just received a return call to someone. This is pure rumour without foundation. It is not Lowe or the plc's plan. Link to comment Share on other sites More sharing options...
saint_stevo Posted 21 January, 2009 Share Posted 21 January, 2009 BDO Stoy Hayward are the club's appointed auditors. I'm quite stunned how quickly this rumour has gathered legs - I heard it on the train home at about 6.15, didn't think much of it at that point but spoke to exit2 and he said he'd heard similar, and then not long after this thread appears from a different forum member. http://www.saintsweb.co.uk/forum/showthread.php?t=8547 this was 4pm, and from a skate! Link to comment Share on other sites More sharing options...
derry Posted 21 January, 2009 Share Posted 21 January, 2009 All available monies should be used to pay off all tax due imo, so that we are not deducted 17 points as well. We wouldn't go into administration. Link to comment Share on other sites More sharing options...
eelpie Posted 21 January, 2009 Share Posted 21 January, 2009 An awful, awful day. Although this may be beneficial in the long, long run, it still feels bad. I pray the club comes out the other side of this. 125 years of history hanging by a thread..... But you say you won't have anything to do with Saints if this happens. Seriously, terrible news. Link to comment Share on other sites More sharing options...
hypochondriac Posted 21 January, 2009 Share Posted 21 January, 2009 I have just received a return call to someone. This is pure rumour without foundation. It is not Lowe or the plc's plan. What is his plan??? Link to comment Share on other sites More sharing options...
derry Posted 21 January, 2009 Share Posted 21 January, 2009 I have just received a return call to someone. This is pure rumour without foundation. It is not Lowe or the plc's plan. Well now Ron, that really is a surprise. Link to comment Share on other sites More sharing options...
saintwarwick Posted 21 January, 2009 Share Posted 21 January, 2009 SW,think FA or League rules state that players of clubs in admin. have to cancel their contracts,so that they can try to find other clubs. Part of the administrator's job is to value all assets which includes players, merchandise stock, office equipment, basically anything that can be sold to raise revenue. Link to comment Share on other sites More sharing options...
Saint Billy Posted 21 January, 2009 Share Posted 21 January, 2009 If admin is on the horizon my only hope is that someone else is waiting in the wings to purchase on the cheap rather than Lowe and Wilde. Link to comment Share on other sites More sharing options...
aintforever Posted 21 January, 2009 Share Posted 21 January, 2009 I have just received a return call to someone. This is pure rumour without foundation. It is not Lowe or the plc's plan. There's a plan! Link to comment Share on other sites More sharing options...
J Bizzle Posted 21 January, 2009 Share Posted 21 January, 2009 someday it'll all be over one day we're all gonna get so high Link to comment Share on other sites More sharing options...
ottery st mary Posted 21 January, 2009 Share Posted 21 January, 2009 Lets be honest, put your, arms or hands, up....How many posters kept saying words to the effect, he will do for us....we are going to be royally shafted....he has come back to kerfluck us good and proper....he has come back for a return match with us loonies, who upset him last time etc etc etc. Well we woz rite everytime we made an observation about the mighty one. He is a sneaky little beggar and he aint finished yet......LUV Saints my left little toe right up you know where. He is havin a larf, big time. My own opinion not really aided and abetted by any other loon. Link to comment Share on other sites More sharing options...
Faz Posted 21 January, 2009 Share Posted 21 January, 2009 We will not go into Administration. Link to comment Share on other sites More sharing options...
SaintRobbie Posted 21 January, 2009 Share Posted 21 January, 2009 We will not go into Administration. Phew. Link to comment Share on other sites More sharing options...
alpine_saint Posted 21 January, 2009 Share Posted 21 January, 2009 But you say you won't have anything to do with Saints if this happens. Seriously, terrible news. Is now the time for piiissing contests ? Link to comment Share on other sites More sharing options...
SaintRobbie Posted 21 January, 2009 Share Posted 21 January, 2009 What is his plan??? Its A . Link to comment Share on other sites More sharing options...
Ponty Posted 21 January, 2009 Share Posted 21 January, 2009 Is now the time for piiissing contests ? Bloody hell Alps, some days this place is one long piissing contest. Link to comment Share on other sites More sharing options...
alpine_saint Posted 21 January, 2009 Share Posted 21 January, 2009 Bloody hell Alps, some days this place is one long piissing contest. Not on the day when strong rumours start breaking about the demise of our club. The blood-letting can wait for the aftermath. Link to comment Share on other sites More sharing options...
saint_stevo Posted 21 January, 2009 Share Posted 21 January, 2009 Ha sorry Stevo, couldn't resist. Just messing with ya mate! Probably deserved! Taken as was meant, i just try to pass on what i hear is happening! Link to comment Share on other sites More sharing options...
Ponty Posted 21 January, 2009 Share Posted 21 January, 2009 Not on the day when strong rumours start breaking about the demise of our club. The blood-letting can wait for the aftermath. Maybe so, but not everyone is as reasonable and level-headed as you. Link to comment Share on other sites More sharing options...
exit2 Posted 21 January, 2009 Share Posted 21 January, 2009 I agree with most on here. I think it is a pure rumour and we all know bad news travels quickly than good. Since this thread started I have had about 8 texts and 4 phone calls asking the same thing! Link to comment Share on other sites More sharing options...
SaintRobbie Posted 21 January, 2009 Share Posted 21 January, 2009 I agree with most on here. I think it is a pure rumour and we all know bad news travels quickly than good. Since this thread started I have had about 8 texts and 4 phone calls asking the same thing! We're almost expecting to hear nothing but bad news now that Lowe seems to have give JP a vote of confidence. Link to comment Share on other sites More sharing options...
alpine_saint Posted 21 January, 2009 Share Posted 21 January, 2009 Maybe so, but not everyone is as reasonable and level-headed as you. You sarcastic sod. Link to comment Share on other sites More sharing options...
Ponty Posted 21 January, 2009 Share Posted 21 January, 2009 Busted. Link to comment Share on other sites More sharing options...
NickG Posted 21 January, 2009 Share Posted 21 January, 2009 just spoken to an irregular source of info (who was first to break the joint directors letter re SISA) who doesn't believe this to be true. Link to comment Share on other sites More sharing options...
SaintRobbie Posted 21 January, 2009 Share Posted 21 January, 2009 This is patently why Lowe's PR machine has started a campaign in the media blaming the 'absent' fans for our troubles. Yes - in the last 24 hours it has been the fans and Crouch's fault... nothing of course sticks to Mr Lowe. Link to comment Share on other sites More sharing options...
tommi Posted 21 January, 2009 Share Posted 21 January, 2009 lol at all the ****s who know **** all about SFC but continually post I've been told this, i've been told that...none of which ever turns out to be true saying yeah it's definitely happening... (exit2, Granty and a few others excused...) I'm more confident than ever we won't be entering administration anytime soon! ha ha - what a sad sad bunch Link to comment Share on other sites More sharing options...
CanadaSaint Posted 21 January, 2009 Share Posted 21 January, 2009 (edited) I have just received a return call to someone. This is pure rumour without foundation. It is not Lowe or the plc's plan. I'm not sure that the PLC and its directors are the ones doing the "planning" any more. They have largely been marching to the drumbeat of the major creditors to this point, but it's up to the creditors whether they continue to march at all. The performance on the pitch, the increasing likelihood of relegation, the failure to liquidate assets in the window and - now - the open revolt among the fan base may well have tipped the major creditors over the edge. The shares will become worthless and the creditors will be looking for someone with the cash and smarts to start in League 1 and rebuild - with a good enough business plan to keep paying off the stadium debt and overdraft (even if it takes a long time). I hope to God (and expect) that: A) Rupert is not a person they would consider B) there are people "with the cash and smarts" who have been waiting for this moment. Edited 21 January, 2009 by CanadaSaint Link to comment Share on other sites More sharing options...
Amesbury Saint Posted 21 January, 2009 Share Posted 21 January, 2009 I'm more confident than ever we won't be entering administration anytime soon! based on what? Link to comment Share on other sites More sharing options...
fos1 Posted 21 January, 2009 Share Posted 21 January, 2009 This is complete rubbish, but saying that if we continue the way we are going and get relegated then that is a totally different story !! That is why we need change at the top, and we need it quick we cannot continue with Lowe, Wilde and the Dutch idiot otherwise it will be too late !! Link to comment Share on other sites More sharing options...
Mole Posted 21 January, 2009 Share Posted 21 January, 2009 just spoken to an irregular source of info (who was first to break the joint directors letter re SISA) who doesn't believe this to be true. If it's not true (i'm not disputing this) why did Charlie Sale run the story? Link to comment Share on other sites More sharing options...
(not THE) Kevin Moore Posted 21 January, 2009 Share Posted 21 January, 2009 I love this, completely unsubstantiated rumour from someone with little posting history and because it fits in with everyones tidy little belief system (that everything to do with Saints is going to hell in a handcart) we have 3 pages of handwringing and 'woe is me...' Incidentally, in light of comments above and similar to another post on here.... would you accept administration if it got rid of Alpine?..... it would certainly represent a very tempting scenario in my eyes. I don't believe this rumour personally. Link to comment Share on other sites More sharing options...
Weston Saint Posted 21 January, 2009 Share Posted 21 January, 2009 Please do not pm me anymore. I will not be responding. I will not and cannot add to what I posted. I have no further information. Link to comment Share on other sites More sharing options...
Dalek2003 Posted 21 January, 2009 Share Posted 21 January, 2009 This stuff about saints going into admin is just a rumour. I wouldn't bother giving it another thought. Link to comment Share on other sites More sharing options...
eelpie Posted 21 January, 2009 Share Posted 21 January, 2009 We're almost expecting to hear nothing but bad news now that Lowe seems to have give JP a vote of confidence. lol Link to comment Share on other sites More sharing options...
Mole Posted 21 January, 2009 Share Posted 21 January, 2009 Please feel free to pm me. I know **** all but i'll be your friend. Link to comment Share on other sites More sharing options...
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