777 Partners / Whatever the hell you like

Revised Polling options on who wants a 777 takeover

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If we can stay up, get to the summer, sell Onana and Branthwaite and replace them with cheaper versions and then somehow stay up again I think we'll be ok. Once we move into the new stadium the revenue will pay for the debt interest and if we're still in the Premier League we can use the TV money for transfer fees and wages. Staying up this season and next is vital for the club's survival though.
 
AndyC said:
If the club were to go into Administration, I would think that BM would potentially/probably be 'sold' off to a stadium management company who would run it, and in effect rent it back to the club... assuming the club were to be rescued.
Instead of the club owning its own stadium, the club would become tenants and rent it.
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Correct and we would lose all non match day revenue unless we paid a "premium rent" to take it 7 days a week which could be very very expensive indeed.

If we took just match days we have no control on what the landlords use the stadium for or other events they hold, they could move a rugby team in to share with us.
 
hallamblue said:
If we can stay up, get to the summer, sell Onana and Branthwaite and replace them with cheaper versions and then somehow stay up again I think we'll be ok. Once we move into the new stadium the revenue will pay for the debt interest and if we're still in the Premier League we can use the TV money for transfer fees and wages. Staying up this season and next is vital for the club's survival though.
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With respect mate, you're talking about a future that we might not reach.

The club is in a perilous place right now with an absentee owner, a practically non-existent Board AGAIN !!! When was the last time we heard from Moshiri or the other guy he appointed to the board ? Chong is project managing the stadium deal and his elevation to interim CEO/Board was only ever intended to be that - Interim.

Add in a takeover attempt that looks nailed on to either be withdrawn or rebuffed by the PL and that would almost certainly plunge the club into Administration... which would trigger an automatic 9-point deduction to add to the 10-point deduction we've already had imposed and we're still waiting the outcome of an appeal against it... and a then a second charge hanging over us.

The issues are here NOW, right NOW.
 

AndyC said:
With respect mate, you're talking about a future that we might not reach.

The club is in a perilous place right now with an absentee owner, a practically non-existent Board AGAIN !!! When was the last time we heard from Moshiri or the other guy he appointed to the board ? Chong is project managing the stadium deal and his elevation to interim CEO/Board was only ever intended to be that - Interim.

Add in a takeover attempt that looks nailed on to either be withdrawn or rebuffed by the PL and that would almost certainly plunge the club into Administration... which would trigger an automatic 9-point deduction to add to the 10-point deduction we've already had imposed and we're still waiting the outcome of an appeal against it... and a then a second charge hanging over us.

The issues are here NOW, right NOW.
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Hence the "ifs" in my post. It's in nobody's interest for us to go into administration. It's very much a last resort.
 
hallamblue said:
Hence the "ifs" in my post. It's in nobody's interest for us to go into administration. It's very much a last resort.
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Again and with respect... it is NOT a last resort.
If there's no financial backing, the club revenue income is nowhere near enough to pay all the bills, wages, BM payments etc.
Ergo, not enough money means Administration at best or liquidation at worst as the club could be potentially be trading insolvently.
 
AndyC said:
With respect mate, you're talking about a future that we might not reach.

The club is in a perilous place right now with an absentee owner, a practically non-existent Board AGAIN !!! When was the last time we heard from Moshiri or the other guy he appointed to the board ? Chong is project managing the stadium deal and his elevation to interim CEO/Board was only ever intended to be that - Interim.

Add in a takeover attempt that looks nailed on to either be withdrawn or rebuffed by the PL and that would almost certainly plunge the club into Administration... which would trigger an automatic 9-point deduction to add to the 10-point deduction we've already had imposed and we're still waiting the outcome of an appeal against it... and a then a second charge hanging over us.

The issues are here NOW, right NOW.
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You're scaring me Andy!

What are the chances that Moshiri has another buyer lined up, and at this point all parties concerned already know that the 777 deal is going to fall through, and he's keeping under wraps until the PL announce that they're going to reject the deal?
 
AndyC said:
Again and with respect... it is NOT a last resort.
If there's no financial backing, the club revenue income is nowhere near enough to pay all the bills, wages, BM payments etc.
Ergo, not enough money means Administration at best or liquidation at worst as the club could be potentially be trading insolvently.
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I don't know if you're a financial insolvency expert Andy but in my experience it is a last resort. Companies will always try and negotiate with creditors first, asking them if they'll accept lower payments until the business gets back on it's feet. This usually drags on for months and then some of the creditors get fed up with waiting if they haven't been paid the reduced amount. At this point in time if HMRC is owed money then an administrator will come in and take over the running of the business which is usually the beginning of the end
 
Tommy Chong said:
You're scaring me Andy!

What are the chances that Moshiri has another buyer lined up, and at this point all parties concerned already know that the 777 deal is going to fall through, and he's keeping under wraps until the PL announce that they're going to reject the deal?
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Beyond slim.
He's said that in his opinion 777 represent the best way forward... and to me that suggests he's rejected other offers.
 

AndyC said:
Beyond slim.
He's said that in his opinion 777 represent the best way forward... and to me that suggests he's rejected other offers.
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They're his best way forward as they're paying him several hundred million for the club. There are other investors who would buy it for the price of the debt and he would get nothing.
 
hallamblue said:
I don't know if you're a financial insolvency expert Andy but in my experience it is a last resort. Companies will always try and negotiate with creditors first, asking them if they'll accept lower payments until the business gets back on it's feet. This usually drags on for months and then some of the creditors get fed up with waiting if they haven't been paid the reduced amount. At this point in time if HMRC is owed money then an administrator will come in and take over the running of the business which is usually the beginning of the end
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I'm not a financial insolvency expert but, all the signs are pointing most definitely towards Administration unless something dramatic happens in the very near future.
 
AndyC said:
I'm not a financial insolvency expert but, all the signs are pointing most definitely towards Administration unless something dramatic happens in the very near future.
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I don't disagree about it being the potential end game, but I disagree that it's imminent.
 

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