NEW THREAD FOR ALL THINGS TAKEOVER | Page 55 | Vital Football

NEW THREAD FOR ALL THINGS TAKEOVER

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moonay said:
I'm really struggling to append any blame to JJ, given that at the point we went into admin, we owed no-one anything, and no-one - absolutely no-one - could have seen what was going to happen.

"Didn't have time" is applicable cos initially, we had 5 bidders. As none have progressed over the weeks into any of them actually buying us, this course of action became more important.
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He's the person in charge of running the club, has at no point spoke out about what has been going on (waiting for money to come in at the last minute) and authorised a pretty large amount of spending in the last closed season, knowing that these issues were in the background. Going forward I wouldn't be comfortable with that person continuing to run the club.

We did owe money when we went into administration.
 
Arthur_Itis said:
I've asked others on a number of occasions but not had any replies (that I can remember, apologies if posters have) so I'll try again with you Nottingham.

Can you tell me how the EFL can prevent one bloke from selling shares in a company to another bloke.
Can you tel me how the EFL can prevent a bloke putting a company that he owns into administration.

thanks in advance.
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The key point is that the EFL didn't have to accept the administration, in the same way they didn't have to accept the change of ownership in July. They have a duty to protect their clubs, because without the clubs there is no league, and no big salaries for them. Certainly, they did not need to be so hasty with the administration, and should have queried the change of ownership. On top of that, they seemed very keen to reject our appeal against the 12 points deduction.

I think we have every reason to be angry and dissatisfied with the lack of support from the EFL. We've been handed a metaphorical life sentence for a crime we did not commit 😕
 
Hampton said:
He can't - that's completely my point !
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Legal threats cost nothing to make and sound good!

Hopefully we can get details, as a club, of the actions of the administrators. This will allow us to review the actions taken, ensure they are in line with the law and should the fall outside of that, take our own legal action.
 
Money arriving at the last minute had been standard practice for 18 months. There was no suggestion it wasn't going to arrive.

The owners authorised the spending .............. presumably based on what they were willing to invest.

When we went into Admin, we had bills that were due to be paid ............ none were overdue at that point.
 
king_dezeeuw06 said:
Nixon says we haven't quite cleared all the debts yet. By his count we still owe up to 800k. Also 2m loan to be repaid to EFL for Covid and estimated 1.5m in admins costs. Lawyers is something like another 1m and then wage bill due next week which will still prob be a decent amount. Not to mention HMRC, various bills etc.
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Here we go again we owe the EFL £2m for covid ? Yet they won't pay us the £2m they owe us for solidarity as we're not a championship club - because they relegated us. What chance have we got against these lunatics 🙄😪
 
moonay said:
Money arriving at the last minute had been standard practice for 18 months. There was no suggestion it wasn't going to arrive.

The owners authorised the spending .............. presumably based on what they were willing to invest.

When we went into Admin, we had bills that were due to be paid ............ none were overdue at that point.
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So basically what you are saying is because it was standard practise it was acceptable?

Attributing blame is just part of life. If I were in this situation, as a latics fan and a business person, I'd be out in the press apologising for my involvement.
 
Wlatic said:
Legal threats cost nothing to make and sound good!

Hopefully we can get details, as a club, of the actions of the administrators. This will allow us to review the actions taken, ensure they are in line with the law and should the fall outside of that, take our own legal action.
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Re the Krasner 's threat of legal action - the best form of defence is attack.
It's all piss and wind
 
I'm saying that if bills are continually paid ion the last day of the month, then yes, it's acceptable...................... unless there were any suspicions as to why.

If you think JJ hasn't been kicking himself for not seeing it coming (even though that probably wasn't possible) I think you're wide of the mark.

Attributing blame is part of life, you're right,............ but it doesn't mean that the blame is correctly attributed.
 
moonay said:
I'm saying that if bills are continually paid ion the last day of the month, then yes, it's acceptable...................... unless there were any suspicions as to why.

If you think JJ hasn't been kicking himself for not seeing it coming (even though that probably wasn't possible) I think you're wide of the mark.

Attributing blame is part of life, you're right,............ but it doesn't mean that the blame is correctly attributed.
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He should be kicking himself for not having plans in place. Be it the leader of a club or a business.
 
Nottingham said:
The key point is that the EFL didn't have to accept the administration, in the same way they didn't have to accept the change of ownership in July. They have a duty to protect their clubs, because without the clubs there is no league, and no big salaries for them. Certainly, they did not need to be so hasty with the administration, and should have queried the change of ownership. On top of that, they seemed very keen to reject our appeal against the 12 points deduction.

I think we have every reason to be angry and dissatisfied with the lack of support from the EFL. We've been handed a metaphorical life sentence for a crime we did not commit 😕
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👏👏👏👏👏👏👏
 
moonay said:
Plans for what? The owner chucking in the towel? Give over.
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Exactly, given the problems that seem to have been happening behind the scenes (late money, takeovers, director changes), failed attempts of them using the club for different income streams, covid suspending the league etc. I dont think it was a stretch to imagine this happening.
 
Wlatic said:
Exactly, given the problems that seem to have been happening behind the scenes (late money, takeovers, director changes), failed attempts of them using the club for different income streams, covid suspending the league etc. I dont think it was a stretch to imagine this happening.
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As per the other thread ................. what should he have done?
 
moonay said:
As per the other thread ................. what should he have done?
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My point is more if he tried his best things still ended up where we are, therefore any future we have as a club needs to be with different leadership. If we repeat the same processes we'll get the same outcomes.
 
Wlatic said:
My point is more if he tried his best things still ended up where we are, therefore any future we have as a club needs to be with different leadership. If we repeat the same processes we'll get the same outcomes.
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KDZ makes the point well that he may have done things wrong elsewhere (was Gelhardt's contract his cock up?) but in this instance, he was as flummoxed as the rest of us by what happened. Stuffed Stoke, we're all happy as a pig in shit, and then the world falls in .................... yet you think he should have had eyes in the top of his head.

We'll agree to disagree.
 
moonay said:
KDZ makes the point well that he may have done things wrong elsewhere (was Gelhardt's contract his cock up?) but in this instance, he was as flummoxed as the rest of us by what happened. Stuffed Stoke, we're all happy as a pig in shit, and then the world falls in .................... yet you think he should have had eyes in the top of his head.

We'll agree to disagree.
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Understood and I think the discussion and different view points are a good thing (bring balance). If he's been completely kept in the dark by the board its understandable, but we've had others on this forum, with far less access showing the warning signs.
 
Wlatic said:
Understood and I think the discussion and different view points are a good thing (bring balance). If he's been completely kept in the dark by the board its understandable, but we've had others on this forum, with far less access showing the warning signs.
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He (& Royle) initially refused to accept the loan onto the club ........... so the board make-up was changed and they were subsequently out-voted.

Not sure what other warning signs you think were there.
 
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