We are not Alone | Page 2 | Vital Football

We are not Alone

Some Swindon fans are saying there not in as much trouble as what's being reported, and that it's merely a cynical ploy by Power to up Season Ticket Sales.
 
It will happen to Man City and Chelsea at some point. It's just a waiting game. Chelsea I would say due to location and brand will be able to be more self sufficient than City when it goes pop but will still revert to the mid table club they were before the money arrived. Man City have had that much money thrown at them there is no way they could ever recover from their owners walking away. They were a nothing club with a big name before the money arrived.
 
It will happen to Man City and Chelsea at some point. It's just a waiting game. Chelsea I would say due to location and brand will be able to be more self sufficient than City when it goes pop but will still revert to the mid table club they were before the money arrived. Man City have had that much money thrown at them there is no way they could ever recover from their owners walking away. They were a nothing club with a big name before the money arrived.
What utter garbage.
 
In all honesty MB there is still some debate as to whether at the time of the administration being triggered we were in an insolvency event or whether the appointment of the admins triggered the event.

I know its semantics and possibly just wishful thinking but at the time that Au Yeung approached Begbies the club was still solvent and it was only the next months wages and bills that sent us into insolvency and therefore the statement from the EFL was premature. The club had paid its debts and wages for the month that Au Yeung took over but his non payment of the following months accounts was the action that put us into insolvency.

Regardless of all that you are correct in that as soon as the event was triggered the EFL had no other option than to place the penalty point deduction on us.

Whether the time lag would have made a difference is a moot point really.

You're right in that it can be looked at that way but as I understood it, as soon as Au Yeung said "not a penny more" we had no way of paying those upcoming bills & wages & so he approached administrators & the courts to liquidate the club before ultimately applying for us to go in to administration. The application for administration due to not going to being able to pay our financial commitments was the insolvency event rather than the not actually paying them later that month.
At the point he said he wasn't putting in anything else, as a club we were insolvent regardless of the fact that at that point nothing was overdue or unpaid - in my understanding of it

The 15pnt deduction was then inevitable as you say

That said, the EFL's timing of the statement that regardless of the circumstances surrounding the administration we would get deducted 15 pts either that season if we stayed up or the next if we went down, felt like kicking us when we were down - although in their defence they were being asked the question by other member clubs whose interests were directly affected by what was to happen
 
You're right in that it can be looked at that way but as I understood it, as soon as Au Yeung said "not a penny more" we had no way of paying those upcoming bills & wages & so he approached administrators & the courts to liquidate the club before ultimately applying for us to go in to administration. The application for administration due to not going to being able to pay our financial commitments was the insolvency event rather than the not actually paying them later that month.
At the point he said he wasn't putting in anything else, as a club we were insolvent regardless of the fact that at that point nothing was overdue or unpaid - in my understanding of it

The 15pnt deduction was then inevitable as you say

That said, the EFL's timing of the statement that regardless of the circumstances surrounding the administration we would get deducted 15 pts either that season if we stayed up or the next if we went down, felt like kicking us when we were down - although in their defence they were being asked the question by other member clubs whose interests were directly affected by what was to happen

As I said it was semantics but in my opinion you are only insolvent when the debt is due and payment can't be made, so just because Au Yeung said "no more" that would not mean we were insolvent.

Doesn't mean your argument is wrong but technically it was premature, by a few days.
 
As I said it was semantics but in my opinion you are only insolvent when the debt is due and payment can't be made, so just because Au Yeung said "no more" that would not mean we were insolvent.

Doesn't mean your argument is wrong but technically it was premature, by a few days.
Could have been completely avoided by a short term loan taken out by the WAFC UK company against asset sales post season.
A completely unnecessary administration IMO.
Why didn't Royle and JJ didn't tell Begbies to feck off when they rocked up and do this is is unclear as UK directors they would have the authority I believe
 
Could have been completely avoided by a short term loan taken out by the WAFC UK company against asset sales post season.
A completely unnecessary administration IMO.
Why didn't Royle and JJ didn't tell Begbies to feck off when they rocked up and do this is is unclear as UK directors they would have the authority I believe

Wasn’t Royle sacked or suspended when he tried to resist what Au Yeung was doing? Same with Au Yeung’s man on the ground over here?
Either or both meant he (Au Yeung) could get his way and the Begbies were court appointed so I don’t think Jackson or Royle telling Begbies to do one would have been allowed or listened to
 
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We reportedly went into administration with over 300 grand still in the bank so how could we have been insolvent. Bolton and Bury I believe hadn't paid their players before administration yet we had to find the wages before they were actually due to be paid. 9 months after the event I still dont understand why our administration, fire sales, asset stripping seemed to be more brutal than other clubs have suffered in similar circumstances.
 
Could have been completely avoided by a short term loan taken out by the WAFC UK company against asset sales post season.
A completely unnecessary administration IMO.
Why didn't Royle and JJ didn't tell Begbies to feck off when they rocked up and do this is is unclear as UK directors they would have the authority I believe

Your belief is wrong.Jackson and Royle would have had no say in it, they were literally outvoted by the majority shareholder, Au Yeung.

You are right about the administration being unnecessary, and it has been done to death on here, but there is no reason for it to have happened. As you say there was sufficient assets in the group to raise the necessary cash to see the club through to the end of the season and then sell of some of the assets to cover the loan. The trouble was the loan that Au Yeung/ Choi were trying to offload on the club that was completely off the scale in terms of repayment. JJ and DR tried to resist this and were kicked off the board for their pain.
 
We reportedly went into administration with over 300 grand still in the bank so how could we have been insolvent. Bolton and Bury I believe hadn't paid their players before administration yet we had to find the wages before they were actually due to be paid. 9 months after the event I still dont understand why our administration, fire sales, asset stripping seemed to be more brutal than other clubs have suffered in similar circumstances.

That £300 grand (if true) wasn't enough to pay the wages, the next payments for players we'd bought & the non-football creditors we owed money to
Don't forget as well that at the time we were put into administration unlike previous administrations at Bolton, Bury and many others we had absolutely no money coming in from ticket sales & what people spend on food & drink & other income streams