What’s going on? | Page 9 | Vital Football

What’s going on?

Danny_de_Zeeuw16 said:
I think someone off the Internet has cracked it!!!!

Its not a new owner its the old owner setting up a new company and took out a 28m loan to buy the club from HIMSELF. Then puts us into administration and walks away with big interest payments attatched to the loan either at 8% if paid back in a year rising to 20 % if not within a year. Easy easy money. Efl pass it, bingo quids in. Old stanley the poker player has caught us right out.

Someone else states.......

Looking on companies House it looks like a new owner only took control of the club last week. It was only registered yesterday?!?!
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It’s been said before, we’re being bent over and have been crippled with debt we can’t possibly pay.
We’ve now sacrificed 12 points and will most likely be relegated which is the least of our problems.

None of this makes sense to us aside from a cash grab/asset strip.

Nothing much more to say, yeah, if we have no way to pay our outgoings go into admin...but why now? As a lot of other posters have said...

No word from the top either as per...Jeez what has this club become?
 
Danny_de_Zeeuw16 said:
Im sorry what?!? Your level of wit is too high for me so could you spell it out please? Im either being thick spouting public knowledge or missing the glaringly obvious which is it? Id put a laughing emoji but im not sure on that either right now.
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Sorry mate ..... I was just pointing out that your "internet revelation" isn't exactly news. It's common knowledge that Choi bought the club from IEC (which he owns) ....... basically transferring it from public to private ownership. That's been discussed plenty of times in the last day (well, month really) on here.

That's why I thought you might be piss extracting.

No offence.
 
Danny_de_Zeeuw16 said:
I think someone off the Internet has cracked it!!!!

Its not a new owner its the old owner setting up a new company and took out a 28m loan to buy the club from HIMSELF. Then puts us into administration and walks away with big interest payments attatched to the loan either at 8% if paid back in a year rising to 20 % if not within a year. Easy easy money. Efl pass it, bingo quids in. Old stanley the poker player has caught us right out.

Someone else states.......

Looking on companies House it looks like a new owner only took control of the club last week. It was only registered yesterday?!?!
Click to expand...
I’m no expert on these things. Would a prospective new owner be liable to pay off the existing loan in its entirety to take ownership of the club? Or pay what they think it is worth?
 
moonay said:
Sorry mate ..... I was just pointing out that your "internet revelation" isn't exactly news. It's common knowledge that Choi bought the club from IEC (which he owns) ....... basically transferring it from public to private ownership. That's been discussed plenty of times in the last day (well, month really) on here.

That's why I thought you might be piss extracting.

No offence.
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Not been on the forum in a long while have two babies to look after.

Some things never change though....

With my new found knowledge I can now concretely say

we are finished. Unless your a wealthy generous individual with more money than sense.
 
moonay said:
Sorry mate ..... I was just pointing out that your "internet revelation" isn't exactly news. It's common knowledge that Choi bought the club from IEC (which he owns) ....... basically transferring it from public to private ownership. That's been discussed plenty of times in the last day (well, month really) on here.

That's why I thought you might be piss extracting.

No offence.
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What i struggle to understand is that if all this is so obvious then why is the football World in shock including old uncle dave.
 
So then what happens if this is found to be fraud will the fraudsters still own the club ? And if not who will own it ?
 
Danny_de_Zeeuw16 said:
Not been on the forum in a long while have two babies to look after.

Some things never change though....

With my new found knowledge I can now concretely say

we are finished. Unless your a wealthy generous individual with more money than sense.
Click to expand...

Danny_de_Zeeuw16 said:
What i struggle to understand is that if all this is so obvious then why is the football World in shock including old uncle dave.
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I'm not sure what you're struggling with. Quite a few posts on here today have mentioned that Choi (IEC) effectively sold the club to himself.

All I'm saying is that you seeing on t' interweb isn't the scoop you thought.

Also, we're probably far from finished ....................... not really sure why you'd think that.
 
moonay said:
I can't help thinking John you're being too pessimistic here.

Cracking recent form.
Comparatively low running costs
Some belting prospects
A Development Centre/Academy on the up
World reknown (through the FA Cup).

That's not a bad CV
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And most importantly, the fact we are not even in a bad financial position which makes this administration either more bizare and shady.
 
moonay said:
CoW, from what I've read, the money (certainly at the time of change of ownership) was all there..........it's just not been made available.

I suspect what Exiled was suggesting was that there's some other reason than financial precariousness that's put us in this position.

Admin?...... a month after change of ownership? . ......... it smells, doesn't it?
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So the money to keep us going lent from IEC? has gone missing or not been made available?
 
moonay said:
I'm not sure what you're struggling with. Quite a few posts on here today have mentioned that Choi (IEC) effectively sold the club to himself.

All I'm saying is that you seeing on t' interweb isn't the scoop you thought.

Also, we're probably far from finished ....................... not really sure why you'd think that.
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I know but it was allowed to happen people on the inside must have known. I thought he was shifting ownership honestly not shifting ownership with an interest of potentially 20 % on over a 20 million loan!!!! Since I woke this morning thats a bloody revelation to me yes it is. Im surprised hes prepared to do a moonlight like this and drag his name through the mud!!?!! Its not like its the construction sector this is the most prolific sport in the world this will follow you round in business imagine sugar doing it!


Due to the current climate! Doesnt exactly make it easy to find a multi million pound buyer does it. Uncle dave is literally it really but does he even want to and can he afford to? Seriously doubt it. How else do we get out of this mess!?
 
Danny_de_Zeeuw16 said:
I know but it was allowed to happen people on the inside must have known. I thought he was shifting ownership honestly not shifting ownership with an interest of potentially 20 % on over a 20 million loan!!!! Since I woke this morning thats a bloody revelation to me yes it is. Im surprised hes prepared to do a moonlight like this and drag his name through the mud!!?!! Its not like its the construction sector this is the most prolific sport in the world this will follow you round in business imagine sugar doing it!


Due to the current climate! Doesnt exactly make it easy to find a multi million pound buyer does it. Uncle dave is literally it really but does he even want to and can he afford to? Seriously doubt it. How else do we get out of this mess!?
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All that info was mentioned on here a couple of weeks ago mate. The logic is that it protects the PLC (IEC) even if Choi himself gets a little mucky.

As for a new buyer, I've outlined elsewhere why we'd be a crackin' buy.
 
ZAKKY said:
So then what happens if this is found to be fraud will the fraudsters still own the club ? And if not who will own it ?
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Legally we are now in admin. If someone buys it in good faith, legally it’ll be theirs.

I’ve little doubt in my mind we’ve been used and a fraud has occurred. In fact it’s that brazen there’s no attempt to cover it up. Proving that to a standard where a criminal prosecution takes place is something else. Offshore accounts in the Caymans have been used, the fraudsters are safely tucked away in China and were dealing with British and Hong Kong laws here. In addition whether there is an appetite to investigate by the SFO is another. Getting Interpol to issue an arrest warrant for these ***** is a long way away.
 
13 hours in, the shock is wearing off but I’m fucking furious. Personally I’m sceptical about us being sold. Yes I know we’ve player and fixed assets but there isn’t much room for growth in the business and there will be plenty more clubs up for sale before the year is out. Plus why would you buy a footballl club in this climate with vastly reduced revenue streams in the current climate?

I’ve got my head around the fact we’re likely going down and I’m not arsed as long as we’ve a club to support, that’s all I’m bothered about. I still want us to appeal it though out of principal, the efl have effectively sided and abetted this crime and to then punished us for it as well is grossly wrong. This organisation is not fit fir purpose and needs reform.
 
The day started off well...good mood and off for our walk. Got a phone call half way round and the day will live long as one of our worst ever. Hope tomorrow is better.

As long as we have a team to get behind league 1 will do.

At least the scum have now left. Laticsmon till I die.

Up the tics.

Good night ( some chance ).
 
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