Are we still a "going concern"?

[Weston Saint]

Weston - have you heard anything from your sources as to whether admin will happen this week or not (apologies if you have posted elsewhere already).

cheers

John

 

No.

[hamster]

No.

 

But you would tell us if you knew wouldn't you? Wouldn't you? It wouldn't go any further or farther even.

[Gemmel]

It's should "have" not should "of".

 

And what's your take on Admin these days Stanley?

[rpb]

A friend who is a journalist on the Echo told me that the only reason we haven't gone into administration so far is because Wotte has pleaded for it not to happen yet as it would have a bad effect on the team.

 

He has never been a very reliable source of information though...

[Thedelldays]

i think the reason we are not in admin is because we have a decent chance of staying up

[rpb]

i think the reason we are not in admin is because we have a decent chance of staying up

 

More or less what my journalist friend said...

 

He also claims that if we had stayed in the Premiership then Paul Allen was poised to take us over...

[Thedelldays]

He also claims that if we had stayed in the Premiership then Paul Allen was poised to take us over...

oh for fuk sake

[aintforever]

What's the odds in Saints losing their next couple of games, making relegation and administration inevitable - but just 10 days too late to take the 10 points hit this season?

 

You just know that with our comically tragic run of bad luck, this will happen.

[Big Ron fan]

What's the odds in Saints losing their next couple of games, making relegation and administration inevitable - but just 10 days too late to take the 10 points hit this season?

 

You just know that with our comically tragic run of bad luck, this will happen.

 

I think you mean 'with our chronically bad management record at the club, this will happen'.

[trousers]

A friend who is a journalist on the Echo told me that the only reason we haven't gone into administration so far is because Wotte has pleaded for it not to happen yet as it would have a bad effect on the team

 

Did Wotte plead the same with the directors of the last club he was at the helm of when it went into Administration?

 

Of course it would have a bad effect on the team, but that'slike saying that the band on the Titanic wouldn't play their instruments well if the ship sank. No sh*t!

 

I somehow doubt a 'head coach' would have enough influence on whether a club goes into administration or not. Now, that would be something to worry about!

Edited 24 March, 2009 by trousers

[Mole]

And what's your take on Admin these days Stanley?

 

The same as it's always been. I.E that it's inevitable sooner or later so i'd sooner we got the show on the road now.

[Gemmel]

The same as it's always been. I.E that it's inevitable sooner or later so i'd sooner we got the show on the road now.

 

 

And do you still think it will solve all of our problems? Or have you realised yet, that it will probably create more than it could ever solve.

[Channon's Sideburns]

Yep somewhere in the region of Surman's fire sale value should cover that.

 

Wait for the yepls of shock from those who advocated this route

 

You won't get champagne at Chewton Glen for £2.50 Phil!!

 

BTW..I think Krasner was staying at the Royal Bath during his Bournemouth Jolly...

[Mole]

And do you still think it will solve all of our problems? Or have you realised yet, that it will probably create more than it could ever solve.

 

If administration is inevitable (as i believe) the problems it will cause are inevitable. It's pointless to say "we must avoid it all costs etc" if it's going to happen anyway. If it's going to happen anyway then imo the sooner it happens the sooner we get over it.

[sidthesquid]

If we were that close to admin, why didn't we take £500k from Palarse for Dyer? (Unless it was a delayed payment deal and we wanted cash up front, I suppose)

[trousers]

If we were that close to admin, why didn't we take £500k from Palarse for Dyer?

 

Perhaps it's against some LSE rule or suchlike whereby you're not allowed to sell your 'best' assets on the (relative) cheap if you're on the brink of not being a 'going concern'?

 

Dunno. Just a guess.

[ottery st mary]

Perhaps it's against some LSE rule or suchlike whereby you're not allowed to sell your 'best' assets on the (relative) cheap if you're on the brink of not being a 'going concern'?

 

Dunno. Just a guess.

 

No wonder we have kept Pulis and Gasmi..Now I begin to understand.:smt017

[trousers]

No wonder we have kept Pulis and Gasmi..Now I begin to understand.:smt017

 

Ah...hmmm....does rather blow my half baked theorum out of the water!

[bridge too far]

Ah...hmmm....does rather blow my half baked theorum out of the water!

 

Trousers in 'spelling shocker' :shock:

[trousers]

Trousers in 'spelling shocker' :shock:

 

I'm stronger with pictures than words to be honest

[Windmill Arm 2]

It'd be better in the long run if this did happen, although in the short term it'd seem like the end of the world.

 

 

So if we do a Wimbledon and cease to exist, will that be better in the long run!!!??? Sorry but you are a ***t mate, I do not want administration even if it will rid us of the duck hunter (of which there is no guarantee). If you love this club, then you dont wish for it to collapse.

[trousers]

So if we do a Wimbledon and cease to exist

 

 

http://www.afcwimbledon.co.uk/

[bridge too far]

I'm stronger with pictures than words to be honest

 

 

There you go

[Mole]

So if we do a Wimbledon and cease to exist, will that be better in the long run!!!??? Sorry but you are a ***t mate, I do not want administration even if it will rid us of the duck hunter (of which there is no guarantee). If you love this club, then you dont wish for it to collapse.

 

Am i supposed to care what you think?

[alpine_saint]

What's the odds in Saints losing their next couple of games, making relegation and administration inevitable - but just 10 days too late to take the 10 points hit this season?

 

You just know that with our comically tragic run of bad luck, this will happen.

 

Nothing to do with bad luck, and everything to do with inept management.

[trousers]

 

There you go

 

Cheers. Bhaskari has a lot to answer for IMHO.

[alpine_saint]

No wonder we have kept Pulis and Gasmi..Now I begin to understand.:smt017

 

Have these FUKKERS played ONE game between them yet ?

[trousers]

Have these FUKKERS played ONE game between them yet ?

 

No, but they'll be able to hit the ground running in Div 1....long term planning and all that malarkey...

[Burnsie]

Have these FUKKERS played ONE game between them yet ?

 

Don't be ridiculous. Gasmi's come one at least twice.

[Channon's Sideburns]

Have these FUKKERS played ONE game between them yet ?

 

Yes Alps...I think they played Snap on the team bus once.

[wild-saint]

I can check the Man city link from Harry Redknapp. My contact(family member) is playing golf with Kev Bond tomorrow and will ask him what he has heard. If Harry knows anything he would have told Kev.

[trousers]

I can check the Man city link from Harry Redknapp. My contact(family member) is playing golf with Kev Bond tomorrow and will ask him what he has heard. If Harry knows anything he would have told Kev.

 

Nice one. Cheers.

[Amesbury Saint]

I heard that we have not gone into admin yet becuase we cannot afford the stamp on the envoloped with all the forms.

 

Seriously a person I know is seeking to avoid putting one of his subsidiary companies into admin. A factor for avoiding admin is damage to reputation.

[trousers]

Seriously a person I know is seeking to avoid putting one of his subsidiary companies into admin. A factor for avoiding admin is damage to reputation.

 

How does that work?

[pfc123]

i think the reason we are not in admin is because we have a decent chance of staying up

 

Hmmm, what does Adrian Chiles regularly say?: "It's the hope that kills you". In your case, staving off administration in the hope that you stay up and accordingly attract new investment/finance?

 

I know a lot of people on here won't even read a post from a Pompey fan, but we do have experience of administration and it was quite honestly the best thing that ever happened to us. We got rid of the Gregory family who were hated in the same way that Lowe is, and brought in Mandaric who had enough money, luck and Redknapp waiting in the wings to eventually get us up.

 

Make no bones about it, before administration we were absolutely dead as a club, and had been for decades if I'm being honest. Administration cleared out all the dead wood and within a few years we were absolutely flying, and have been ever since compared to the previous 40 years.

 

Trying to avoid it is only making matters worse for you as a club in the long term. So then, if you agree with this scenario as fans, the solution is easy. You go into administration, you probably go down. It's painful, but you start again with a clean slate, and you rebuild. After all, you have the clubs best interest at heart, don't you?

 

As crazy as it sounds at the moment, the board of nearly every club in the country also have that ideal- including the directors of your club, but most of them have the added attraction/burden/curse of having money ploughed in. THEIR money- and much of it hard earned over a lifetime, or even several lifetimes....

 

So then, put yourselves in their shoes just for a moment, and think about administration, money, responsibility to the community, the family silver, and that absolute killer called 'hope'. Then try to make the right choice.

 

Not easy is it.......?

[trousers]

Hmmm, what does Adrian Chiles regularly say?: "It's the hope that kills you". In your case, staving off administration in the hope that you stay up and accordingly attract new investment/finance?

 

I know a lot of people on here won't even read a post from a Pompey fan, but we do have experience of administration and it was quite honestly the best thing that ever happened to us. We got rid of the Gregory family who were hated in the same way that Lowe is, and brought in Mandaric who had enough money, luck and Redknapp waiting in the wings to eventually get us up.

 

Make no bones about it, before administration we were absolutely dead as a club, and had been for decades if I'm being honest. Administration cleared out all the dead wood and within a few years we were absolutely flying, and have been ever since compared to the previous 40 years.

 

Trying to avoid it is only making matters worse for you as a club in the long term. So then, if you agree with this scenario as fans, the solution is easy. You go into administration, you probably go down. It's painful, but you start again with a clean slate, and you rebuild. After all, you have the clubs best interest at heart, don't you?

 

As crazy as it sounds at the moment, the board of nearly every club in the country also have that ideal- including the directors of your club, but most of them have the added attraction/burden/curse of having money ploughed in. THEIR money- and much of it hard earned over a lifetime, or even several lifetimes....

 

So then, put yourselves in their shoes just for a moment, and think about administration, money, responsibility to the community, the family silver, and that absolute killer called 'hope'. Then try to make the right choice.

 

Not easy is it.......?

 

Cheers for the post. Always good to get a different perspective.

 

Having "been there, done that, got the t-shirt" and actually seen the benefits that CAN come out of administration are you surprised that so many people on here think it would be the death of the club rather than a new beginning?

 

I'm open minded about it but my gut feel is that we would come out of Administration stronger (long term) and not weaker.

[pfc123]

No I'm not really surprised because people are frightened of the very word 'Administration'. It conjures up images of death, meltdown and an end to all you've known before.

 

The reality is different, at least it was in our case. It was also the same for Boro, when they went under in '86. Once the debt is wiped out, you start afresh.

 

Admittedly, in the current climate money is tight from new suitors, or at the very least they're looking for maximum value before they'll invest, but if the price is right, new money IS still out there, as was the case when Mandaric came in for us.

 

At the end of the day you have a new stadium that's good enough for the top flight. What are they gonna do, bulldoze it? Nah, not going to happen is it?

[alpine_saint]

No I'm not really surprised because people are frightened of the very word 'Administration'. It conjures up images of death, meltdown and an end to all you've known before.

 

The reality is different, at least it was in our case. It was also the same for Boro, when they went under in '86. Once the debt is wiped out, you start afresh.

 

Admittedly, in the current climate money is tight from new suitors, or at the very least they're looking for maximum value before they'll invest, but if the price is right, new money IS still out there, as was the case when Mandaric came in for us.

 

At the end of the day you have a new stadium that's good enough for the top flight. What are they gonna do, bulldoze it? Nah, not going to happen is it?

 

Agree with a lot of this.

 

We would be dirt cheap at the moment, and if we can get back on our feet, someone could stand to make a pretty sum on us.

[trousers]

No I'm not really surprised because people are frightened of the very word 'Administration'. It conjures up images of death, meltdown and an end to all you've known before.

 

The reality is different, at least it was in our case. It was also the same for Boro, when they went under in '86. Once the debt is wiped out, you start afresh.

 

Admittedly, in the current climate money is tight from new suitors, or at the very least they're looking for maximum value before they'll invest, but if the price is right, new money IS still out there, as was the case when Mandaric came in for us.

 

At the end of the day you have a new stadium that's good enough for the top flight. What are they gonna do, bulldoze it? Nah, not going to happen is it?

 

Cheers. Perhaps some of the folk on here that say "we should avoid administration at all costs" could explain why they think it would be 'all bad' and why they can't see the potential positives you have outlined from other examples.

[Amesbury Saint]

How does that work?

 

She is basically doing the same job as the administrator would - strip out every possible cost, sell eveything that was not core to the business and get the best price for the business. If she can sell the business at 1p per share, thats better than administration.

 

Also as a director her reputation is less damaged than if the company goes into administration.

[Fitzhugh Fella]

Cheers. Perhaps some of the folk on here that say "we should avoid administration at all costs" could explain why they think it would be 'all bad' and why they can't see the potential positives you have outlined from other examples.

 

Hi Trousers - had an interesting message from a friend last night who is a Saints fan but who is "well connected" in Pompey circles. This is what he had to say (and I laughed at his Echo v The P*rtmouth News comparison quote) -

 

The background to this is that The News is currently banned from all access by p***ey after they did the story that the FA Cup was damaged.

 

The story was true, the club couldn't deny it as the paper had the story from the silversmith employed to repair it.

 

So in a little fit of pique, the club banned them.

 

Unlike the Echo, who have balls the size of lentils, when The News get banned, they take the gloves off.

 

P***ey held a fans forum recently where The News managed to get a reporter in. It was the one where they announced the plans for the new ground would be put on hold and Krap Nottarf enlarged

 

Typically arrogant of those in football, Peter Storrie thought he was addressing fans only, and that he could assume they were of low intelligence, and confessed that the club are in big trouble, they have around £90m worth of debt, and unless they manage to find a buyer in the summer, the gig is up.

 

The Gaydamaks either will not or (more likely) cannot pump in any more money, and with some big payments on transfers due that make our £100,000 for McGoldrick look like chicken feed, and that flapping sound is that of the wings of chickens on their way home to the roost.

 

They would find it difficult enough to find a buyer in the Premiership, with the size of their debt, the huge wage bill Harry saddled them with, and the outlay any new buyer would have to find to refurbish the ground (let alone fund a new one which, according to Storrie, would be ready to form part of England's 2018 World Cup bid).

 

Storrie discovered The News have his quotes and is hopping mad. He claims it can't be used as he was only talking to supporters. Read whatever inference into that you like, but he's oblivious to the fact that they constitute members of the public, and thus it is in the public domain.

 

What might stop it getting out is p***ey's loathsome press officer Gary Double, who might try and crawl around his former Fleet Street buddies and in the style of Max Clifford, try and stop them publishing it by buying them off with an alternative exclusive, so don't be too surprised if you don't see this story, but a series of 'exclusive' interviews with Sasha Gaydamak.

 

I think the South Coast Administration Handicap Chase is on. Who will go in first, us, Bournemouth or them?

[70's Mike]

Ties up with the news i heard this morning that pom**y had cut asking price for club to £35m

[stevegrant]

Ties up with the news i heard this morning that pom**y had cut asking price for club to £35m

I was under the impression the asking price for PFC was down to "nominal", i.e. £1, so long as whoever came in covered all (or a significant majority) of the debt.

[teamsaint]

The difference between the Poopey administration and our predicament is that times, and the rules, have changed.

Admin for us could easily see us in a Luton style downward spiral

(and if you are too young to remember, back in the 80's Luton had a top flight team to be proud of )!!

 

maybe administration could be the start of a great new world for the Saints, with new owners and a League 1 title in no time- bit its a big "maybe".

[trousers]

Well, according to the 'timely' article in the Echo everything is OK on the finances front....

[Stirchleysaint]

I think the South Coast Administration Handicap Chase is on. Who will go in first, us, Bournemouth or them?

If they stay in the Premier League then there's no chance of them going into administration, if they are relegated though...

[stevegrant]

If they stay in the Premier League then there's no chance of them going into administration, if they are relegated though...

Their problem is that they will have to continue to sell/release their high earners, which will leave them with a squad that would probably just about compete for a play-off place in the Championship.

 

If they avoid relegation this season - which is looking reasonably likely given their run-in and the respective run-ins of the teams around them - it'll only be fighting off the inevitable for a year.

[Stirchleysaint]

Their problem is that they will have to continue to sell/release their high earners, which will leave them with a squad that would probably just about compete for a play-off place in the Championship.

 

If they avoid relegation this season - which is looking reasonably likely given their run-in and the respective run-ins of the teams around them - it'll only be fighting off the inevitable for a year.

My understanding is that Peter Storrie stated that administration would be a reality if they were relegated. This was stated at a fans forum in London apparently.

 

Its no real consolation though if we get relegated again.

[70's Mike]

I was under the impression the asking price for PFC was down to "nominal", i.e. £1, so long as whoever came in covered all (or a significant majority) of the debt.

 

just repeating what i heard on Talk Sport news at 6am this morning.

you are effectively saying that whoever buts PFC will need a few bob

[stevegrant]

you are effectively saying that whoever buts PFC will need a few bob

Yep, which is why nobody's actually bought them yet. For all Corp Ho's bluster on the various threads that have run on the Lounge in the last couple of years, nobody has actually put their money on the table because while Fratton Park remains their home with a capacity of around 20,000, there is no way a mildly competitive Premier League club can be sustained AND make a return on an investment - particularly a £90m one.