Weston Super Saint Posted 29 June, 2009 Share Posted 29 June, 2009 Sorry diagree' date=' as this asset would have had to have been either included or excluded and certainly now the situtaion is that hw will be excluded... the key is what is in the contracts re player sales during the negotiation period + impact on the bidders perceived value they are getting.[/quote'] But, like Scummer points out the club will now have 'undisclosed 7 figure sum' less debts.... Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 June, 2009 Share Posted 29 June, 2009 (edited) How so? Assuming the money doesn't disappear into a black hole, you're just getting a club with a million quid less debt? Now I am confused... but my take is that teh current contract that Pinnacle are lookkiing to sign or teh drafts teh Swiss are looking at will contain a detailed list of te assets to be purchased as part of teh agreement with creditors for 14 mil etc... if during the period between this contract being drawn up and before its signed teh administrator sells on some of the assets covered inin the contract, then a new contract will drawn up, BUT quite rightly a bidder might now turnm around and say they are not prepared to pay 14 mil as 1.somethingorother million has just been taken out of the deal... Edited 29 June, 2009 by Frank's cousin Link to comment Share on other sites More sharing options...
VectisSaint Posted 29 June, 2009 Share Posted 29 June, 2009 ....because I am. This is why. According to the Echo, deals for the sale of two of our most valuable assets, Surman and McGoldrick, could be decided today. Now, the only way that this could happen, IMHO, is for the Pinnacle consortium to agree to the sale, as they hold an exclusive position with regard to the purchase of assets from SLH, ie, no other party can agree to buy these players without their agreement. .... Exclusivity period ended a week ago last Friday. Therefore Pinnacle have no say in who is or is not sold. As far as I can see only Mark Fry with the assistance of the Football Board (names escape me, but one is the Father of some east Ender bint or something) determine whether or not players can leave before their contracts expire. Contracted players contracts expire 2 weeks after their salaries are in default by the way. So to sell Surman now is decision of Fry/SFC Board, but he can walk in just over 1 week anyway for nothing. Given that Fry has no other way of paying staff or players I see this as a way to give SFC more time, but then again I was also under the impression that the FL hold on to any transfer monies and use these to settle any outstanding debts with other clubs Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 June, 2009 Share Posted 29 June, 2009 But, like Scummer points out the club will now have 'undisclosed 7 figure sum' less debts.... See above, not the issue - because the bidder is NOT paying off ALL the debt, but has made an offer for 54p in the pound - you can bet your backside that the creditors will not be looking toaccept 1.somethingor other less... especially as teh money may be used first to pay some debt but also wages for JUne.... Link to comment Share on other sites More sharing options...
saintbletch Posted 29 June, 2009 Share Posted 29 June, 2009 He'd discuss things like that with anyone who had reached advanced talks because the sale of a player may have an effect on the perceived value of the assets they are trying to buy. Unless of course DMG and Surman had both made their intentions to leave clear and the £14M already reflected that? Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 June, 2009 Share Posted 29 June, 2009 Unless of course DMG and Surman had both made their intentions to leave clear and the £14M already reflected that? In which case the deal looks slightly worse value? Link to comment Share on other sites More sharing options...
Weston Super Saint Posted 29 June, 2009 Share Posted 29 June, 2009 Who knows??? Maybe they had agreed two deals in principal - one with DMG at the club and one with DMG being sold for £xmillion... :smt102 I'd certainly hope these so called professional businessmen would have had the foresight to come up with something along those lines, especially if DMG move has been on the cards for more than six weeks!! Link to comment Share on other sites More sharing options...
VectisSaint Posted 29 June, 2009 Share Posted 29 June, 2009 You come across as being very naive Nineteen Troll. Without administration we would be facing life in L1 (albeit without a points deduction) under Lowe and Wilde. Administration would be on the horizon and Lowe and Wilde would scrambling to sell off assets to preserve their shareholding. In the end they would fail and we'd go into admin, but we'd most likely be doomed to enter L2 or worse. Going into admin last season was the best of a bad job. There is now light at the end of the tunnel for 99% of Saints fans. It's sad that you are not on the journey with us. Don't agree, without administration we would have already been liquidated. Thats the point of administration. Therefore the choice was Administration or no SFC, difficult choice there, thats why Alpine and other people with sense were actually positive about administration, it was the only option that left us with a Club that would play above wessex league level. Its not that Admin was a great idea, simply that Lowe had taken us to the point where it was the only way out. Thank goodness for Administration, otherwise we would all have had nothing to do for the last 2 months excpet find another team to support. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 June, 2009 Share Posted 29 June, 2009 Don't agree, without administration we would have already been liquidated. Thats the point of administration. Therefore the choice was Administration or no SFC, difficult choice there, thats why Alpine and other people with sense were actually positive about administration, it was the only option that left us with a Club that would play above wessex league level. Its not that Admin was a great idea, simply that Lowe had taken us to the point where it was the only way out. Thank goodness for Administration, otherwise we would all have had nothing to do for the last 2 months excpet find another team to support. That is not corerect Alpine and the others were 'positive' about admin becaue it meant the booting out of LOwe regardless of teh consequences. Anyway teh choice wasnot not Admion opr no SFC, Admion COULD have been avoided had the creditors given us a couple of weeks in which to begin ST sales - long term the club STILL needed to cut costs as it does now... sadly i see us going teh way of Oxford - a local well emaning millionnaire without the real cash needed commin in and year on year cost cutting to avoid admin again... and down the eague we continue... ;-( Link to comment Share on other sites More sharing options...
NSS Posted 29 June, 2009 Share Posted 29 June, 2009 That is not corerect Alpine and the others were 'positive' about admin becaue it meant the booting out of LOwe regardless of teh consequences. Anyway teh choice wasnot not Admion opr no SFC' date=' Admion COULD have been avoided had the creditors given us a couple of weeks in which to begin ST sales - long term the club STILL needed to cut costs as it does now... sadly i see us going teh way of Oxford - a local well emaning millionnaire without the real cash needed commin in and year on year cost cutting to avoid admin again... and down the eague we continue... ;-([/quote'] Frank, may I respectfully suggest that you get on that bike of yours and pound the pedals for a couple of hours. Yes, I know it's blisteringly hot for a bike ride today, but it's got to be better for your blood pressure than the wild mood swings that you're displaying in your posts on here today Link to comment Share on other sites More sharing options...
Give it to Ron Posted 29 June, 2009 Share Posted 29 June, 2009 That is not corerect Alpine and the others were 'positive' about admin becaue it meant the booting out of LOwe regardless of teh consequences. Anyway teh choice wasnot not Admion opr no SFC' date=' Admion COULD have been avoided had the creditors given us a couple of weeks in which to begin ST sales - long term the club STILL needed to cut costs as it does now... sadly i see us going teh way of Oxford - a local well emaning millionnaire without the real cash needed commin in and year on year cost cutting to avoid admin again... and down the eague we continue... ;-([/quote'] Alternatively though Frank old loveable rosey cheeks could of taken us into Admin a week earlier and Pinnacle wouldnt of had to appeal to the FL about 10 points or whatever.....or even have that as an excuse to stall ;-) Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 June, 2009 Share Posted 29 June, 2009 Frank, may I respectfully suggest that you get on that bike of yours and pound the pedals for a couple of hours. Yes, I know it's blisteringly hot for a bike ride today, but it's got to be better for your blood pressure than the wild mood swings that you're displaying in your posts on here today Sorry NSS but given the puacity of factual information, this was always going to happen... we now have teh inconsistencies in teh communications that characterised previous failed takeovers so its no surprise that we add 2 + 2 and make 5.... The recent revalations about Mr Fialka are inconsistent with what TL has stated publically... as such there are now pleanty who would love to see the Swiss hijack teh deal even though we know nothing about them, as the samll amount we do know about Pinnacle is that they have been consistent i chnaging their story... and te issue with the-10 pints simply does not satck up mate... Link to comment Share on other sites More sharing options...
aintforever Posted 29 June, 2009 Share Posted 29 June, 2009 Alternatively though Frank old loveable rosey cheeks could of taken us into Admin a week earlier and Pinnacle wouldnt of had to appeal to the FL about 10 points or whatever.....or even have that as an excuse to stall ;-) Lowe delaying administration until a few days after the deadline has made SFC a far less attractive buy and could even result in the death of the club. I still think he probably did it out of spite. Link to comment Share on other sites More sharing options...
eelpie Posted 29 June, 2009 Share Posted 29 June, 2009 Lowe delaying administration until a few days after the deadline has made SFC a far less attractive buy and could even result in the death of the club. I still think he probably did it out of spite. Incompetence due to arrogance, not spite, although he had no love of the club, admittedly. Link to comment Share on other sites More sharing options...
Mole Posted 29 June, 2009 Share Posted 29 June, 2009 Guided Missile in shock trolling of thread started by Guided Missile. Link to comment Share on other sites More sharing options...
jonah Posted 29 June, 2009 Share Posted 29 June, 2009 Frank, if I buy you some speech-to-text software will you use it? Link to comment Share on other sites More sharing options...
eelpie Posted 29 June, 2009 Share Posted 29 June, 2009 looks like mix including many own grown and non-league - cracking photo of ex-saint! http://www.leedsunited.com/page/PlayerProfileIndex/0,,10273,00.html Jesus lives on! Link to comment Share on other sites More sharing options...
Guided Missile Posted 29 June, 2009 Author Share Posted 29 June, 2009 Frank, if I buy you some speech-to-text software will you use it? Mark, I have Frank on ignore for this very reason. He's a nightmare and if he can't be bothered to proof read his posts, which takes about a minute, I'm not going to spend a minute mentally doing it for him. Or, as Frank would post - Dyslexia Rules, KO? Link to comment Share on other sites More sharing options...
Guided Missile Posted 29 June, 2009 Author Share Posted 29 June, 2009 Guided Missile in shock trolling of thread started by Guided Missile.Stanley, isn't it about time you started worshipping at my keyboard, like the majority of the posters on here, do....? Link to comment Share on other sites More sharing options...
Mole Posted 29 June, 2009 Share Posted 29 June, 2009 Stanley, isn't it about time you started worshipping at my keyboard, like the majority of the posters on here, do....? The only worshiping you'll ever get is when you're pouting your lips in front of your mirror. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 June, 2009 Share Posted 29 June, 2009 (edited) Mark, I have Frank on ignore for this very reason. He's a nightmare and if he can't be bothered to proof read his posts, which takes about a minute, I'm not going to spend a minute mentally doing it for him. Or, as Frank would post - Dyslexia Rules, KO? I dont have you on ignore because I enjoy a good laugh at your arrogance - frequent good points lost in the sea of smartarse, patronising, rhetoric. With all communication, the importance is in the meaning and the message, not the method, but you obviously enjoy the pendantry far more than real discussion. You need to get out more and have some real converstaions with REAL people... might lighten your attitude a little. Edited 29 June, 2009 by Frank's cousin Link to comment Share on other sites More sharing options...
slickmick Posted 29 June, 2009 Share Posted 29 June, 2009 I dont have you on ignore because I enjoy a good laugh at your arrogance - frequent good points lost in the sea of smartarse' date=' patronising, rhetoric. With all communication, the importance is in the meaning and the message, not the method, but you obviously enjoy the pendantry far more than real discussion. You need to get out more and have some real converstaions with REAL people... might lighten your attitude a little.[/quote'] He can't read it Frank, he has you on ignore. Oh...... Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 June, 2009 Share Posted 29 June, 2009 He can't read it Frank, he has you on ignore. Oh...... ;-) hey better add the 'r' in your in the quote or it might offend him - shame about the swear filters really as there are certain words that are most becomming.. Link to comment Share on other sites More sharing options...
ottery st mary Posted 29 June, 2009 Share Posted 29 June, 2009 Christ. Are you 12? :confused: 11 and half\\:D/ Link to comment Share on other sites More sharing options...
aintforever Posted 29 June, 2009 Share Posted 29 June, 2009 Incompetence due to arrogance, not spite, although he had no love of the club, admittedly. I dunno, Leeds managed to time administration to a week before they went down, Stockport timed it so they technically still could go down but would stay up on goal difference. Didn't some club actually do it during half time of the final game? - They all had debts, creditors and overdrafts like us. Lowe always struck me as the sort of kid who would take their ball home if he was losing, if he didn't do it out of spite he had absolutely no concern for future of the club post Lowe. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 June, 2009 Share Posted 29 June, 2009 I dunno, Leeds managed to time administration to a week before they went down, Stockport timed it so they technically still could go down but would stay up on goal difference. Didn't some club actually do it during half time of the final game? - They all had debts, creditors and overdrafts like us. Lowe always struck me as the sort of kid who would take their ball home if he was losing, if he didn't do it out of spite he had absolutely no concern for future of the club post Lowe. Thing is what we forget is that although technically Lowe called in the administrators, he had NO CHOICE, after the bank in effect called in the overdraft, allegedly out of the blue - with the board believing that we could survive until ST sale revenue came in during April and May. With further cost cutting and one or two player sales over the summer we would not have been far off breakeven... what made the bank nervous was dwindling gate receipts during Feb, March and April. Fan numbers down following poor results shocker! The hard core still went whatever knowing they were needed even more so during the hour of need, but the others who need some sniff of success desserted back to Sky in the pub... Its these fans that we failed to attract that caused the bank to panic - Lowe's contribution to that was the Dutch experiment - some will say his folly, others will say necessity after the Wilde and Crouch overspend - take your pick but the result is the same... the only way out was a player sale back in Jan, or more fans prepared to put up with shocking play.... Link to comment Share on other sites More sharing options...
Nineteen Canteen Posted 29 June, 2009 Share Posted 29 June, 2009 Stanley, isn't it about time you started worshipping at my keyboard, like the majority of the posters on here, do....? LOL - Stanley worships Google it makes him ITK. Link to comment Share on other sites More sharing options...
Gemmel Posted 29 June, 2009 Share Posted 29 June, 2009 Thing is what we forget is that although technically Lowe called in the administrators' date=' he had NO CHOICE, after the bank in effect called in the overdraft, allegedly out of the blue - quote'] The bank did not call in the overdraft. They didn't honour a number of cheques (which would have put the club over the agreed limit), which in effect meant the company was trading iilegally and had they continued trading, the directors could have been held personally liable. Link to comment Share on other sites More sharing options...
mcjwills Posted 29 June, 2009 Share Posted 29 June, 2009 Mark, I have Frank on ignore for this very reason. He's a nightmare and if he can't be bothered to proof read his posts, which takes about a minute, I'm not going to spend a minute mentally doing it for him. Or, as Frank would post - Dyslexia Rules, KO? I thought it was Lysdexia Lures KO But I'm an agonostic dyslexic insomniac I'm awake all night worring about a DOG Link to comment Share on other sites More sharing options...
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