Frank's cousin

Just read this - seems MLT and TL were let down by backers who were never totally committed and bottled it - Why do these guys who are well meaning seem to jump in BEFORE they have the full committment of the finance? Its no different to Wilde and Crouch relying on Wilde's 'investors' to fund those transfers/contracts that then never materialised.... I though these were astute businessmen, yet they have been prepared to push things through BEFORE the funding was carved in stone.

Lowe - whatever his obvious flaws - having a bit of a knob in charge of the club is better than no club by a mile... He had many flaws and these are obvious, but contrary to the popular urban myth, he did actually look to keep the finances in order, which was sadly aslo a contributor to the prem relegation, his refusal to take a punt or risk further borrowings as so many other clubs do - investment taht was needed just to stand still in the prem, let alone progress, because we diod not have the money... he made a pigs arse (apologies for the mixed metaphor) out of the manager policy on his return, but teh financial problems were already clear and impossible to navigate...

OK Alpine wanted admin to get rid of Lowe, but even I will concede he did not want it to end up as it has done... he was just more confident that the situation would lead to a new buyer, some of us were not, so it makes no sense to blame each other. The issue I have is that we have been told that the financier backed out - why? I am sorry but I dont buy blaming the FL... That would be a convenient excuse - if this license was only for two years the only reason I can think of is that the DEAL included additional staged payments to the creditors to complete the CVA stuff and teh FL insisted on a 2 year deadline which would be fair enough for a backer worth 'hundreds of millions' surely? I think Pinnacle began to lose credibilty as soon as they started changing the info on who the backer was.... never nailed down really.

That could not be more utter Boll ox if it was wraped in a soft leather sack and was swinging between teh back legs of a Bull.... 1) you seemed so confident and urged patience which has kind of knoocked your credibilty a bit... and 2) ANYONE worth their professional salt is NEVER going to worry about 50 or so internt scroats.... It looks pretty clear now that although MLT and TL grafted hard and had the desire, tehy never ahd the full comitment of the finance. End Of. The whole issue with teh FL is just an excuse...because we all knew that the -10 would never be over turned. As to teh bull about additioanl points deductions, this was NEVER mentioned. The fact remains that the FL would aonly be able to dock additional points if we failed to meet CVAs.... The deal to purchase SFC and SMS was set teh administratopr at teh agreement ofthe creditors - eg a CVA - Because the FL consider us one and the same, teh fact that SLH have CVAs in place following the sale of the club and stadium, would cover us under FL rules... its just a smokescreen to cover the fact that they never really ahd the backers signed on teh line- As such despite their graft they have in fact wasted 5 weeks when those with teh money could have done a deal - MLT wasbrought in because they knew he woudl gain fan support for a bid that now looks about as likely as Jacksons....

Given that we have in effect secured some 2.5 milin the last two days from the McG and Surman sales, can someone who is an expert in these things give an indication as to where this money will go? If staying with the club (that is not in admin....), then surely the wages will be paid and at least we look after the staff and can secue those players who could soon be off following breach of contracts - or does this simply get swallowed up by the administrator (In which case we are in admin and WTF were pinnacle doing wanting this appeal) and divvied amongst the creditors? The timing seems bizzarrre as we were told Pinnacle and possibly the Swiss group still hopeful, given the impact such asset sales will have on the content of any deal/contract... not good.

Yup, there was quite a stampede! ;-) No worries, sadly this little bit of humour is necessary given the grief that today could bring...

;-)

TBF, many of the 'Germans' played in the second div, one even in the 4th - so teh argument about foreigners etc is a bit lame - and the fact many were from multi ethnic backgrounds is because they finally woke up and realised thats what everyone else is doing - France and even us - in our case its simply 3rd or 4th generation... whereas the tricky thing for the Germans is that many still qualify for their 'parents honmesland' and some will end up playing for those sides if they dont get in the 1st squad soon - Castro and Ozil looked good and will probably be in the main squad soon...

See above...

Sorry - just an oversight - meant creditors as the rest of the post implies ....

Sadly this is not far from the truth - remember the club owns Rodrigues cup winners medal which it paid 10 k for to keep in the club - this would be sold to the highest bidder and part of our history is gone....

Fry will keep the door open with Pinnacle until someone else actually puts pen to pa[per and hands over the money - until then he is duty bound to keep an open mind... remember he is not interested in getting a deal that is best for SFC, just the best he can for shareholders... and there were some who wanted this....?

If noone takes over all assets will be sold most likely via auction - everything from the computers in the offices, to the goal posts top raise the biggest pot of cash possible and this is then divided amongst the creditors of which the administrators get a degree of priority.... ;-(

Thing is what we forget is that although technically Lowe called in the administrators, he had NO CHOICE, after the bank in effect called in the overdraft, allegedly out of the blue - with the board believing that we could survive until ST sale revenue came in during April and May. With further cost cutting and one or two player sales over the summer we would not have been far off breakeven... what made the bank nervous was dwindling gate receipts during Feb, March and April. Fan numbers down following poor results shocker! The hard core still went whatever knowing they were needed even more so during the hour of need, but the others who need some sniff of success desserted back to Sky in the pub... Its these fans that we failed to attract that caused the bank to panic - Lowe's contribution to that was the Dutch experiment - some will say his folly, others will say necessity after the Wilde and Crouch overspend - take your pick but the result is the same... the only way out was a player sale back in Jan, or more fans prepared to put up with shocking play....

True, but ideally what are we after? A decent young manager who has the talent to grow with the club and stay long term, or a short term fix?

Only a couple of years ago, when his name was mentioned as a possible successor to one of the Lowe dumped clan, there was outrage that Dreary O'leary was even considered.....amazing how perpsectives change...

;-) hey better add the 'r' in your in the quote or it might offend him - shame about the swear filters really as there are certain words that are most becomming..

I dont have you on ignore because I enjoy a good laugh at your arrogance - frequent good points lost in the sea of smartarse, patronising, rhetoric. With all communication, the importance is in the meaning and the message, not the method, but you obviously enjoy the pendantry far more than real discussion. You need to get out more and have some real converstaions with REAL people... might lighten your attitude a little.

Sorry NSS but given the puacity of factual information, this was always going to happen... we now have teh inconsistencies in teh communications that characterised previous failed takeovers so its no surprise that we add 2 + 2 and make 5.... The recent revalations about Mr Fialka are inconsistent with what TL has stated publically... as such there are now pleanty who would love to see the Swiss hijack teh deal even though we know nothing about them, as the samll amount we do know about Pinnacle is that they have been consistent i chnaging their story... and te issue with the-10 pints simply does not satck up mate...

That is not corerect Alpine and the others were 'positive' about admin becaue it meant the booting out of LOwe regardless of teh consequences. Anyway teh choice wasnot not Admion opr no SFC, Admion COULD have been avoided had the creditors given us a couple of weeks in which to begin ST sales - long term the club STILL needed to cut costs as it does now... sadly i see us going teh way of Oxford - a local well emaning millionnaire without the real cash needed commin in and year on year cost cutting to avoid admin again... and down the eague we continue... ;-(

In which case the deal looks slightly worse value?

See above, not the issue - because the bidder is NOT paying off ALL the debt, but has made an offer for 54p in the pound - you can bet your backside that the creditors will not be looking toaccept 1.somethingor other less... especially as teh money may be used first to pay some debt but also wages for JUne....

Now I am confused... but my take is that teh current contract that Pinnacle are lookkiing to sign or teh drafts teh Swiss are looking at will contain a detailed list of te assets to be purchased as part of teh agreement with creditors for 14 mil etc... if during the period between this contract being drawn up and before its signed teh administrator sells on some of the assets covered inin the contract, then a new contract will drawn up, BUT quite rightly a bidder might now turnm around and say they are not prepared to pay 14 mil as 1.somethingorother million has just been taken out of the deal...

Sorry diagree, as this asset would have had to have been either included or excluded and certainly now the situtaion is that hw will be excluded... the key is what is in the contracts re player sales during the negotiation period + impact on the bidders perceived value they are getting.

NOthing to do with scaremongering - teh fact we have just sold David means that what the new owners will get for tehir money will be worth 1.undisclosed million less. NOw if you were buying what would you make of that?