Re: I know it won't happen but................
Thu Sep 01, 2011 2:37 pm
Definitely not. I'd rather be a struggling club than a club that goes into Administration to avoid paying it's debts (like Swansea). I know some clubs cannot avoid Administration but we clearly can.
Re: I know it won't happen but................
Thu Sep 01, 2011 2:37 pm
we would all love no debt in our club, who wouldnt....
but i would feel 100 times better if we get rid our debt the hard way and earn it
but i would feel 100 times better if we get rid our debt the hard way and earn it
Re: I know it won't happen but................
Thu Sep 01, 2011 2:57 pm
Why do people think that Admin is the answer and we could simply wipe away the debts and be back competing within a year or so 
Admin is not a simple, easy, short-term fix. If we go into Admin our creditors have to agree otherwise we get wound up (basically terminated !), they will only agree if many of our assets are firstly sold to satisfy as many of our creditors as possible. That would mean losing virtually all our 1st team squad unless we have a player worth £30m+
Then, we can only come out of administration if either all our debts are satisfied or new owners are found with sufficient funds to make us a viable business. The Admimistrator would be unlikely to let previous owners take over again unless they are part of another consortium or they can show they have secured additional income/funds and even then they would treat such a move with a great deal of suspicion.
Admin has to be the last resort before winding up, many clubs have taken years to recover from Administration (just look at Leeds, Leicester, Southampton, etc) and it is something to be avoided unless absolutely the only choice.
Admin is not a simple, easy, short-term fix. If we go into Admin our creditors have to agree otherwise we get wound up (basically terminated !), they will only agree if many of our assets are firstly sold to satisfy as many of our creditors as possible. That would mean losing virtually all our 1st team squad unless we have a player worth £30m+
Then, we can only come out of administration if either all our debts are satisfied or new owners are found with sufficient funds to make us a viable business. The Admimistrator would be unlikely to let previous owners take over again unless they are part of another consortium or they can show they have secured additional income/funds and even then they would treat such a move with a great deal of suspicion.
Admin has to be the last resort before winding up, many clubs have taken years to recover from Administration (just look at Leeds, Leicester, Southampton, etc) and it is something to be avoided unless absolutely the only choice.