Sounds a bit Ominous | Page 2 | Vital Football

Sounds a bit Ominous

pies'r'us

Vital Youth Team
#21
Very worrying messages coming from administrators.

A few weeks back they were asking potential buyers to put substantial amount of money up for wages

Yesterday, they stated they wanted a non refundable £100k bond lodging for an exclusivity process and in regard to legal costs.

That's all good enough to put buyers off.

Usually, it's the buyer who request an exclusivity process not the seller. This gives time for the buyer to conduct the process without worry or pressure that someone else is going to sneak in. The seller can ask for a deposit but which would be returnable if say the advertised details didn't match up to site checks etc. Also, we have our friends ELF who have a 'say' which seems to have moved into a 'moveable feast'

Normally, potential buyers make an offer on basic info provided. If both parties are happy, a 'letter of intent' is sought and provided. Details are included providing for time allowance for due diligence to check the advertised details etc are correct and acceptable and a price agreed. The problem for potential buyers now is the clubs 'assets' are fluctuating because of selling players.

This happened with IEC and DW. Close to the completion IEC knocked £2 million of agreed price in May 2019 due to some very 'iffy' excuses

The problem with this set up is that the Administrators priority is protecting their fees.

It took Krasner and co about 4 months 'sorting' Bournemouth's administration in 2007 and there were named buyers in place. Common opinion was that they were dreaming up caveats to extend admin period.
 

Made in Wigan

Vital Football Hero
#22
This is unsurprising news, and one I’ve been braced for, though it doesn’t make it any less palatable to hear. I said as recently as yesterday the administrators will start to liquidate in short order if no one steps forward, and it seems as if they won’t. The administrators can’t afford to run the club, it makes no financial sense for them to do so and they know if there is no buyer now at this price there won’t be in six months time. Whilst it may be a ploy to hurry up one of these bidders I’ve no doubt about the administrators intent if a deal can’t be done.

Given the uncertainty around spectators, and thus no access to significant revenue streams, then buying a football club at this level is a high risk business move. Unless you’ve an emotional attachment then being objective it doesn’t make much sense given our limited scope for development. A sleeping giant we are not. We’ve plenty of assets hugely devalued by the unjust relegation and effectively once they’ve been flogged there isn’t much left to sustain running a football club.

Very sad times.
 
#23
Be useful to know how many players we have to sell to make us a viable asset. Problem is once we become viable financially we have no team to play. Cheers Whelan and Gary Cook. You've played a blinder lining these belters up.
 

Th10

Vital Reserves Team
#24
I’ve not got much confidence to be honest. We’re practically just giving players away rather than trying to at least get near their market value. It seems to me like the only goal is to pay off any money owed and that the admin get their payday at the end of it all, the future of the club doesn’t matter to them. I know funds need to be raised quickly but I think Moore and Gelhardt could’ve been sold for a lot more than they were. Any new owners will take over needing to start pretty much from scratch, no manager, no players and no fans (until we’re hopefully allowed back). Hardly sounds very appealing does it? The only advantage will hopefully be that potential new owners can start to work within a sensible budget.
 

Nottingham

Vital Reserves Team
#25
Be useful to know how many players we have to sell to make us a viable asset. Problem is once we become viable financially we have no team to play. Cheers Whelan and Gary Cook. You've played a blinder lining these belters up.
I think Whelan and co have sold the club down the river, and are the main culprits in all this...apart from the obvious. The guy was on an ego trip....which we all enjoyed....but couldn't wait to sell the club off to anybody who showed a modicum of interest. Now, he/ they couldn't care less. So sad.
 
#27
I’ve not got much confidence to be honest. We’re practically just giving players away rather than trying to at least get near their market value. It seems to me like the only goal is to pay off any money owed and that the admin get their payday at the end of it all, the future of the club doesn’t matter to them. I know funds need to be raised quickly but I think Moore and Gelhardt could’ve been sold for a lot more than they were. Any new owners will take over needing to start pretty much from scratch, no manager, no players and no fans (until we’re hopefully allowed back). Hardly sounds very appealing does it? The only advantage will hopefully be that potential new owners can start to work within a sensible budget.
Why would anybody pay for our players if they can get em for nowt in September? Sends a cracking message out. What exactly do they want money wise? Come out and say it then maybe local folk could come together.
 

Th10

Vital Reserves Team
#29
Why would anybody pay for our players if they can get em for nowt in September? Sends a cracking message out. What exactly do they want money wise? Come out and say it then maybe local folk could come together.
It’s just so sad to see them going for far less than we know they’re worth. Stoke are apparently asking for £8-10mil For Jack Butland. Every time I’ve seen him play he’s been bloody awful.
 

Hampton

Vital 1st Team Regular
#31
Very worrying messages coming from administrators.

A few weeks back they were asking potential buyers to put substantial amount of money up for wages

Yesterday, they stated they wanted a non refundable £100k bond lodging for an exclusivity process and in regard to legal costs.

That's all good enough to put buyers off.

Usually, it's the buyer who request an exclusivity process not the seller. This gives time for the buyer to conduct the process without worry or pressure that someone else is going to sneak in. The seller can ask for a deposit but which would be returnable if say the advertised details didn't match up to site checks etc. Also, we have our friends ELF who have a 'say' which seems to have moved into a 'moveable feast'

Normally, potential buyers make an offer on basic info provided. If both parties are happy, a 'letter of intent' is sought and provided. Details are included providing for time allowance for due diligence to check the advertised details etc are correct and acceptable and a price agreed. The problem for potential buyers now is the clubs 'assets' are fluctuating because of selling players.

This happened with IEC and DW. Close to the completion IEC knocked £2 million of agreed price in May 2019 due to some very 'iffy' excuses

The problem with this set up is that the Administrators priority is protecting their fees.

It took Krasner and co about 4 months 'sorting' Bournemouth's administration in 2007 and there were named buyers in place. Common opinion was that they were dreaming up caveats to extend admin period.
Correct and as posted right at the start of this their only interest is their own fees
Not the club, not it's assets, not what it stands for and not for the fans as they frankly don't give a shit.
 

king_dezeeuw06

Vital Football Hero
#32
Dont know what anyone else thinks but these Admins dont seem to be a patch on the one's that saved Bolton. Dont forget they work for twat face and he wanted us liquidated.
Sorry for the bad language but I'm sure you will understand
What specifically makes you say that?

Bolton didn't page wages and loads of players walked on frees and they had to sell us the training ground while we haven't had to do that yet so arguably we are doing better.
 

moonay

Vital Champions League
#33
Correct and as posted right at the start of this their only interest is their own fees
Not the club, not it's assets, not what it stands for and not for the fans as they frankly don't give a shit.
I think there's a massive difference Hampton between:
- not giving a shit, and
- it not being their main priority.

Their job is currently to get us a buyer. If they do that, I'll be happy.
 

king_dezeeuw06

Vital Football Hero
#34
Whats the latest with lenagans bid is he still interested anyone heard anything
I assume from what we know he's still in the mix but never been leading the pack.

His personal funds by football terms are very modest at about 30m or so he will very likely only be in a position to bid when wage bill and debts but that seems to be all of the potential parties position.

I think chances are more likely he'd end up getting us rather than liquidation.
 

Hampton

Vital 1st Team Regular
#35
My point is if they can't or won't (and I have suspicion that is the real agenda given the chinese command first instruction) fond a buyer they will liquidate us and not give a shit about it !
They will trouser the fat fees for failing to save our club from liquidation and move on to the next victim.
 

ZAKKY

Vital 1st Team Regular
#36
What specifically makes you say that?

Bolton didn't page wages and loads of players walked on frees and they had to sell us the training ground while we haven't had to do that yet so arguably we are doing better.

I suppose it seems they did more to keep the club alive to me over a longer period.Seems like these guys won't hang about into the season and will liquidate us, look around at the sense of feelings on here and twitter tonight
 

king_dezeeuw06

Vital Football Hero
#37
Alan Nixon has maintained throughout nothing is likely to get done until wage bill is reduced massively and debts cleared. He says the wage bill is moving in the right direction but still not where they want it. He is confident the club will survive.

He is right a lot more often than he is wrong even though not everyone likes to give him that so hopefully this will be another good shout.
 

moonay

Vital Champions League
#38
I suppose it seems they did more to keep the club alive to me over a longer period.Seems like these guys won't hang about into the season and will liquidate us, look around at the sense of feelings on here and twitter tonight
I suppose Zakky, there's a massive difference between continuing toward the end of a season (which they didn't finish) whilst still getting spectators, and starting a brand new season in an empty stadium, with no income. .
 

Danny_de_Zeeuw16

Vital Squad Member
#40
I suppose the biggest concern for me is the jumping from frying pan to fire as some really unsavoury characters look at football clubs at the 11th hour. Were not at the 11th hour yet but were steaming towards it. If we jump from frying pan to fire one last time then I think it would be the end of the line for us. We are desperate so beggars can't be choosers, so its balls out time now. I just pray any potential owners are a decent lot. If they aren't were doomed next time. No laurence bassinis of the world please. 🙏😩