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When Anderson arrived at the club to "save us" from going into administration Eddie was still alive, the club had assets in excess of 50 million, we had some good young saleable players, and a fanbase that was right behind the club.
Going into administration at that time would have been painful and a few egos would have been damaged in the process, but with the assets we had there was a decent chance of finding a degree of stability and even a wealthy owner when the dust settled.
After almost three years of running the club into the ground we are again faced with the prospect of administration, only this time with less assets, more debts, less saleable young players and a fanbase that is doing their best to stay loyal to a club that is giving them nothing but misery on and off the pitch. If we are to go into administration now, it's pretty clear (to me at least) that we'll come out of it with far less than we would have done had we faced the music and sorted our house out before Anderson got his hands on our club.
And yet there's the possibility of someone else taking Anderson's shares, but given our financial situation and the imminent prospect of relegation, I agree with Sluffy that we are no longer an attractive proposition for quality investors. To me that implies that unless Anderson is prepared to give his shares away - or pay someone to take them off his grubby hands - we may get a stay of execution by selling to another unfit owner and/or a chancer who sees our demise as an opportunity to turn a quick buck. Which in turn is likely to lead us further down the same road to administration or even liquidation.
As you know, I believe we'd have been better off biting the bullet back in 2015/16 rather than endure the debacle of Anderson's tenure.
Anyone disagree? If so, why? Where's the silver lining?
I'm going over old ground yet again but...
...as far as I'm aware once the club enter Administration, the control of it goes from the owner (KA) to the Administrator - so is Ken willing to give up control even at this late point?
Also it is the largest group of creditors who can 'pick' the Administrator, so I guess that would mean did Moonshift, James and Warburton really want to go down that path?
Next as far as I understand it, Administration needs to be funded during the period of Administration - and it is not cheap - so who is going to pay for it to happen - certainly Anderson won't.
Then you have to think of things that might pre-empt Admin anyway, such as will the ownership shares default to Moonshift anytime soon, or is the club actually insolvent now - which means it ceases all trading and the receipt of money such as this months ST Direct Debits?
Anderson I suppose could even put the club into voluntary liquidation - he clearly isn't loved by the majority of fans, so I guess he might choose to go out in a blaze of glory sticking two fingers up to everybody as we join the ranks of former clubs!
Tbh though I think there is still some hope for our future still.
If we actually were insolvent (or going into voluntary liquidation) I'm sure that would have happened once all talks to take over the club from Anderson had been exhausted. The very fact that this hasn't happen suggests to me something is going on (away from the people who feed Nixon and Iles the gossip) still to strike a deal.
If I was a betting man (I'm not) I would think it would more involve Moonshift and a prospective buyer with KA having been removed from the equation somehow.
Just pure guesswork on my part however.
I still however can't understand why anyone would want to buy us though because I simply can't see how they can make a return on us within a three year (FFP) period, whilst potentially pissing away at least £10 million (and probably a whole lot more) to simply keep the club running for the rest of this season and next - let alone improve us.
I guess all will become much clearer soon enough and fingers crossed things don't work out too bad for us.