When do you think a deal will be done

Surely, cashflow's been an issue for weeks though, hasn't it?

I believe that we've been technically insolvent for about two months.

Player's wages and those of the non-playing staff not being covered is surely a sign?

The PFA helped out with the players and ED had no choice other than to "liquidate some assets" and pay the non-playing staff at Christmas.

The hearing's scheduled for Monday, ie before the next BACS payroll run for January and everybody's focusing on that so nobody's yet questioning what will happen regarding salary payments.

Or is that where the eighty grand we should be paying Mark Davies for January come in?

you are right breaders

Chairmanda wrote:...I still think Glos may owe me a donation to charity of my choice, as I can see an outcome of Monday being a postponement to allow a bit more time for a deal to be done. If that doesn't happen, happy to cough up Glos to charity of your choice. Mavies going for free shows to me ongoing cashflow is as much of an issue as immediate funds in...know that's always been the case but this really highlights it. Not good.

The prospect of a postponement is interesting because there may be a scenario wherein prospective buyers are holding off for administration because they think they might get the club for a lower price.

Which would lead to an impasse aka disaster.

Obviously I don't really know what I'm on about with all this, so I'm deferring to those who probably do.

Is a postponement a realistic possibility, Mand?

I didn't realise that was an option.

Because that would fit with my latest conspiracy theory about the ED being behind the ST and would explain why they're desperately trying to get it set-up "like yesterday".

And it would explain all the stalling and lack of movement with these supposed interested parties.

ED takes it to the wire, gets someone to set up the ST and the deals with them when (through the Administrator) Administration finally does happen.

They get the club for a quid, with the help of "mystery backers sourced from local businesses" ie him in a false moustache and a pair of plastic glasses and the fans are moderately appeased because ED & PG are ostensibly gone and "we" own the club again, albeit a club with no players, playing in League One.

If he'd just pulled the plug and called the Administrator when he probably should have done (a good while back) his stock would be even lower than it currently is because there would be no one else to blame for the points deduction and subsequent relegation.

At least this way he gets to partially repair his reputation by "gifting the club back to the fans" before he slopes off.

I dunno.........it's all too confusing.

Breadman wrote:Obviously I don't really know what I'm on about with all this, so I'm deferring to those who probably do.

Is a postponement a realistic possibility, Mand?

I didn't realise that was an option.

Because that would fit with my latest conspiracy theory about the ED being behind the ST and would explain why they're desperately trying to get it set-up "like yesterday".

And it would explain all the stalling and lack of movement with these supposed interested parties.

ED takes it to the wire, gets someone to set up the ST and the deals with them when (through the Administrator) Administration finally does happen.

They get the club for a quid, with the help of "mystery backers sourced from local businesses" ie him in a false moustache and a pair of plastic glasses and the fans are moderately appeased because ED & PG are ostensibly gone and "we" own the club again, albeit a club with no players, playing in League One.

If he'd just pulled the plug and called the Administrator when he probably should have done (a good while back) his stock would be even lower than it currently is because there would be no one else to blame for the points deduction and subsequent relegation.

At least this way he gets to partially repair his reputation by "gifting the club back to the fans" before he slopes off.

I dunno.........it's all too confusing.

True but it also supports the idea that the consortia that have come in have all heard that ED promised to write off his debt so are hoping to pick up a bargain and have outlined plans to strip all the club's assets - which ED and TB have refused to accept as they have the club's best interests at heart. 
So they are sitting around to see if he crumbles when we go into admin.
Meanwhile ED is bending over backwards to get a better deal for the club but is dealing with vultures who won't give the necessary assurances.

Going into admin OR agreeing a deal would bring a conclusion but postponement could just muddy the waters even further.

To be honest, that's what I've been basing my belief that there would never be any takeover on all along.

Why pay £15 million up front when you know you can bide your time and pick up what you want far cheaper in 6 weeks' time?

Remember, nobody was interested until it all came out that we owed HMRC a wedge of cash and it was looking odds on for Administration and then suddenly, up pops Holdsworth and his mates from SS.

And that's why I keep shouting that ED's a cock because he's doing all this 12 months too late.

An adjournment is a real possibility. The Court hearing is to present a winding up order-and that's not just a rubber stamp job. If the club can show that they are taking active steps to address the claims of creditors then an adjournment of something like 3 months is a possibility. HMRC are conscious of their public image and its not like BWFC are a fly -by-night outfit selling double glazing. There's no outright fraud or deliberate attempt to obfuscate the issue
If Trevor Birch ( or the legal reps) can show that active steps are being taken (which they are) to raise the capital to pay creditors by asset sales, then the Court will ,if possible,take a positive view.
Don't give up yet!!

rammywhite wrote:An adjournment is a real possibility. The Court hearing is to present a winding up order-and that's not just a rubber stamp job. If the club can show that they are taking active steps to address the claims of creditors then an adjournment of something like 3 months is a possibility. HMRC are conscious of their public image and its not like BWFC are a fly -by-night outfit selling double glazing. There's no outright fraud or deliberate attempt to obfuscate the issue
If Trevor Birch ( or the legal reps) can show that active steps are being taken (which they are) to raise the capital to pay creditors by asset sales, then the Court will ,if possible,take a positive view.
Don't give up yet!!

I recognise it's a very real possibility Rammy but I'm also suggesting that an adjournment might not be a good thing if the current crop of potential buyers are prevaricating. 

In those say 3 months, we'd be selling off more and more assets purely to support cashflow, be no nearer stability and even less attractive as an investment.

An adjournment could be the worst scenario for the club.

rammywhite wrote:An adjournment is a real possibility. The Court hearing is to present a winding up order-and that's not just a rubber stamp job. If the club can show that they are taking active steps to address the claims of creditors then an adjournment of something like 3 months is a possibility. HMRC are conscious of their public image and its not like BWFC are a fly -by-night outfit selling double glazing. There's no outright fraud or deliberate attempt to obfuscate the issue
If Trevor Birch ( or the legal reps) can show that active steps are being taken (which they are) to raise the capital to pay creditors by asset sales, then the Court will ,if possible,take a positive view.
Don't give up yet!!

Rammy gave you the answer Bread before I came back...he is as always, spot on.

Some absolutely monster takeover news coming at lionofviennasuite.com in the next 15 minutes. No birthdays, just news #bwfc

Probably a piss take

Boggersbelief wrote:Some absolutely monster takeover news coming at lionofviennasuite.com in the next 15 minutes. No birthdays, just news #bwfc

Probably a piss take

#clickbait probably.

Imminent Takeover

[You must be registered and logged in to see this link.]

Which probably means nothing will have changed by Monday.

SAVED

At last and only 48 hours to the takeover finally. I'm so pleased....Oh, hang on, I see it was 48 hours away twice in November, then December 48 hours away and by Monday then by Friday, and January 48 hours or we'll go into administration. Looks like 48 hours is some sort of secret code. Or am I just being cynical? 

Keep that prick Disley away from the club at all costs!

Sports shield funded by the Korean bank

North Korean or South Korean, that is the question?

wanderlust wrote:With the chances of a deal being concluded over the weekend being slim, we probably have today and tomorrow for someone to buy the club or I'll have cough up to Bread's charity of choice.
Giving Mavies away on a fee transfer send out all the wrong messages and I'm less confident about avoiding administration then at any time until now.

That said, surely ED and TB must realise that if they don't do a deal the vultures will be able to pick up what's left for a song, so they have to find a workable compromise before Monday don't they?

Just like to clarify I am NOT the source that is being quoted in the article. I was just speculating based on the assumption that pressure to compromise was mounting. Therefore there is a chance there is some truth in this.

Cajunboy wrote:North Korean or South Korean, that is the question?

South, they want Chung yong back as a marquee signing