Sorry if this a repetition, but I cannot get over what a crass decision this was..

[Ponty]

Not saying it's not true but Mark Dennis has dealt opinion as fact more than once on Radio Hampshire this season.

[aintforever]

Could SLH sell the club then go into admin?

[Dark Munster]

...not taking administration last week.

 

 

Oh, from the title I thought this thread was about sacking Pearson.

[Charlie Wayman]

As observed last week on another thread, had it not occurred to you that maybe with interest rates close to Zero, SFC may only be paying back the capital part of the mortgage on SMS. As the mortgage is still in the early days of it's lifetime, probably 25 years, most of the monthly payments would be interest at this stage, so our monthly outgoings on the stadium may have dropped to only 10 or 20% of what it was when we started the season. Consequently we may not be operating at a monthly loss at the moment.

[70's Mike]

As observed last week on another thread, had it not occurred to you that maybe with interest rates close to Zero, SFC may only be paying back the capital part of the mortgage on SMS. As the mortgage is still in the early days of it's lifetime, probably 25 years, most of the monthly payments would be interest at this stage, so our monthly outgoings on the stadium may have dropped to only 10 or 20% of what it was when we started the season. Consequently we may not be operating at a monthly loss at the moment.

 

 

Nice thought Charlie but i think you will find the mortgage on SMS is a fixed rate , almost like a loan, and that it does not fluctuate with Bank Rate

[Clapham Saint]

Could SLH sell the club then go into admin?

 

Yes, but if SLH sold the club it would probably be placed into Creditors Voluntary Liquidation.

 

Very similar end result but slightly different legal process.

 

Edit: On reflection it could still be an administration, depends exactly which assets are sold along with the club (i.e. stadium, Jackson's Farm etc)

Edited 30 March, 2009 by Clapham Saint

[Smirking_Saint]

Just to clarify, clearly the club have no money ?? Clearly we are clinging onto life without entering admin and doing everything we possibly can to avoid it.

 

Forgive me if i am slightly misinformed, i do not claim to be ITK, but we are struggling to stay affloat.

 

With that knowledge in mind, why are people still argueing about the factors of having a new CEO (with astronomical wages i would expect) the fact that we can't afford decent loans (yeah, i hate it but we clearly have no choice) and putting up with the cheap options of wotte/portvliet (ok, portvliet was a bad choice but again what choices did we have ?)

 

I hate to admit it, and i don't like the bloke but we were clearly careering into admin and obviously wilde/lowe decided enough was enough. They obviously jumped back in to attempt to 'stave off' admin, i don't like Lowe, i don't like the decisions he makes but i don't see the choice. ADMIN is NOT an option.

[ooh it's a corner]

I'm still confused. (easily done, I know).

 

Copied this from BBC website recently

 

"But clubs who go into administration after today's (26 March 2009) 1700 GMT deadline face having their 10-point deduction suspended.

 

If the club is relegated the points will be deducted from their tally at the start of next season but if the club stays up the 10 points will be taken off their final total.

 

The club would then go down if the 10-point deduction subsequently resulted in it slipping into a relegation place".

 

So, we go into admin (Plc or Ltd), and surely the football club will have a penalty ?

 

So admin soon for one of the vehicles involved, surely this means relegation for the football team?

[NickG]

Not really.

 

1. Nobody has a crystal ball, but he would have dealt with the most likely scenario.

 

2. It aint going to happen anyway.

 

Hmm.....

 

lol!

[trousers]

Nice thought Charlie but i think you will find the mortgage on SMS is a fixed rate

 

Aye. 'Tis Over 8%

[Saint Bones]

Aye. 'Tis Over 8%

 

OUCH ! thats nasty ! I wonder what costs will be involved with restructuring that loan ?

[SFC Forever]

If we don't go down, and stay up by less than 10 points, then not taking voluntary administration is genius.

 

It is possible that we will manage to stay up but exceedingly unlikely that we would be able to gain enough points to get 10 points clear. Don't need to be a genius to work that out.

[Junior Mullet]

Clapham as you have experience as an administrator would you be fearful of us going into it? I believe it would be disasterous but it would be useful to know your feelings. Apologies if you have answered this elsewhere.

 

Nick, I have an alternative viewpoint to Clapham's.

 

The club is an attractive proposition for investors, even in this economic climate. We have a really big catchment area, a compariably high proportion of reasonably affluent supporters, a good history (last few years aside), a good reputation, excellent stadium and facilities etc.

 

So why have we failed to attract investors? The PLC structure makes it extremely difficult for one man to take over. Glazier succeeded at Man Utd after a long, painful and expensive battle. Are we really worth such a fight? I don't beleive that the main shareholders can agree on a reasonable price for their shares nor do I think they would all agree to sell anyway. Thus anyone sniffing around to date has been put off and frankly who would blame them when they can buy a club like Coventry from just one person. So much more simple.

 

Administration would enable one person or consortium to purchase the club from one person, the administrator. It would be costly in the short term but long term it may see the end of Lowe etc which I personally want, even if we have to endure a little pain in the meantime.

 

Modern football requires investment in order to copete at the higher levels. We need one person or a consortium with a common objective and the financial means to compete. The current plc structure doesnt allow that - who would pump money in when they have so little control and who are only going to derive a %'age (ie proportionate to their shareholding) of the benefit from that investment.

 

I think investors would be buzzing around like flies round sh1t if we went into administration. I also think Rupert knows that full well. If that happened and he and his backers could not match their bids he would lose out. Given his apparent view on what his shares are worth he would lose out massively. There's also the slap in the face of one's ago if he were to lose out so publicly.

 

Thus to me it's no surprise we have not gone into administration. I've always said that Lowe will see us relegated down the leagues until he really has no option but to call it a day (for fear of personal liability) rather than go into admin and risk his investment.

 

The other thread about the plc hiving the club assets out are interesting indeed. I'm not sure how likely that is in practice but I have to say I feel that it is unlikely. However, such a scenario could see Lowe, Wilde etc actually increase their ownership and therefore control over the club - what a fecking disaster that could be!!!!! On the other hand it will undoubtedly make us a more attractive proposition to an investor compared to the current plc structure provided they meet the asking price.

 

Interesting stuff indeed. None of us know what will happen but it is fun guessing.

 

May I thank Clapham for replying to my request for info.

[Professor]

lets just remember that poor sad Alpine predicted relegation and administration at the start of the season. This thread seemed to be almost a regret that neither have yet happened.

[trousers]

Administration would enable one person or consortium to purchase the club from one person, the administrator. It would be costly in the short term but long term it may see the end of Lowe etc which I personally want, even if we have to endure a little pain in the meantime..

 

A logical thought process which, alas, tends to fall foul of the "administration is bad, full stop" brigade on here....

 

Open mind is the best policy IMHO

Edited 31 March, 2009 by trousers

[John B]

I just cannot see any scenario that if we are relegated we could become a decent side overnight.

 

Most of the current players will move on and we would therefore have to build a team from scratch.

 

 

Any team would probably take sometime to gel so the decision not to go into administration and to fight for survival seems the best.

 

 

Administration may or may not get rid of Lowe Wilde etc either

[alpine_saint]

lets just remember that poor sad Alpine predicted relegation and administration at the start of the season. This thread seemed to be almost a regret that neither have yet happened.

 

One word : PATHETIC.

[Junior Mullet]

A logical thought process which, alas, tends to fall foul of the "administration is bad, full stop" brigade on here....

 

Open mind is the best policy IMHO

 

Well, the next month or so should now be very interesting indeed. Anyone waiting on the sidelines for events to unravel will no doubt now be doing some very sums.

 

I pray that we will see the back of Lowe as a part owner and director of this club very shortly. I also hope that ownership will ultimately end up in the hands of one or just a small few people.

[OldNick]

Well, the next month or so should now be very interesting indeed. Anyone waiting on the sidelines for events to unravel will no doubt now be doing some very sums.

 

I pray that we will see the back of Lowe as a part owner and director of this club very shortly. I also hope that ownership will ultimately end up in the hands of one or just a small few people.

It is not just Lowe though is it.We have a boardroom full of people who have overseen the bad decisions but in the main too cowardly to show their faces.Yes the main face is Lowe but forget not all the others who should hang their heads in shame.

if they pull a genie out of the bag then all is forgiven but it is sickening.

[Channon's Sideburns]

It is not just Lowe though is it.We have a boardroom full of people who have overseen the bad decisions but in the main too cowardly to show their faces.Yes the main face is Lowe but forget not all the others who should hang their heads in shame.

if they pull a genie out of the bag then all is forgiven but it is sickening.

 

Nick, all of the jokers that have been involved should NEVER be forgiven, regardless of what happens next.

 

Askham deserves the most contempt - the vile little man who started all of this crap and who gave Lowe the support he needed to return.

 

History will always show that Lowe had some success at least - what did Askham ever bring to the club???

 

Foooook all. And Ian Branfoot.

[OldNick]

Nick, all of the jokers that have been involved should NEVER be forgiven, regardless of what happens next.

 

Askham deserves the most contempt - the vile little man who started all of this crap and who gave Lowe the support he needed to return.

 

History will always show that Lowe had some success at least - what did Askham ever bring to the club???

 

Foooook all. And Ian Branfoot.

That is my feeling CS. I have always been cynical about the bard from my childhood. i have little respect for them, a closed shop that was a mickey mouse boys club that evolved into a cynical business. SHAME on them all.

[miserableoldgit]

That is my feeling CS. I have always been cynical about the bard from my childhood. i have little respect for them, a closed shop that was a mickey mouse boys club that evolved into a cynical business. SHAME on them all.

Shakespeare?? Whats he done then??:confused:

[OldNick]

Shakespeare?? Whats he done then??:confused:

 

Lol, I can raise a smile even in these trying days

[miserableoldgit]

Lol, I can raise a smile even in these trying days

Sometimes it is just the best thing to do.