Frank's cousin

True, but if we could have shipped out all those not committed to L1 - and with relegation those top earners would ahve wanted to go anyway, + ST sales I think it could have been different , not worth it evebn for the smallest chance?

I guess you could that would make you look a bit of a T!t no? ;-)

NOt sure there is any difference - we now run the very big risk of going out of business - had we survived until the transfer window opened and players could be sold even at drop down prices + ST revenues we could have continued to restructure for L1 and hopefully survived- a few more weeks was all that was needed....

True, Lowe and Wilde if they had teh ability cash flow wise should have done everything they could - even if only as Loan notes to get us to Seasons end which was what they indicated would happen in the financial statement - 'look towards current directors and shareholders for additional funds to maintain the club as a going concern' - It can only be assumed there were no takers when asked including Low, Wilde and CRouch - which then leads to the question why Crouch then did exactly that only weeks after admin?

Its not 'blaming' Crouch. he was quite RIGHTLY under NO obligation to help, especially as none of the others did... no one is saying he SHOULD have done. But given his SUBSEQUENT cash injection it seems that our current situation COULD have been avoided had he decided to due the unilateral bit (as he has done anyway) earlier. That is simply a truth. The fact he timed it later suggests he was unwilling to do so whilst LOwe/Wilde were there... and is that not surely the nose/spit face thing I referred to?

Which is exactly the point - his hatred ill feeling for them ahead of using his abilty to save the club - i am not saying he should have done or he was obliged to, but the difference it would have mad had he been so generous earlier is pretty clear - nose to spite face stuff which you simply cant make up....

I suspect the board probably felt these would be honored as within the OD terms - but as with all overdrafts the terms mean diddly squat due to that sentance about recall/reduction at any time the baks feel like doing so...

Uhm maybe because we could not shift high earners over January TW, but had we been able to keep going until the summer, the knowledge of relegation helps get rid of thsoe splitters anyway and teh income from thsoe sales would have cleared the OD and ST income build some much needed cash reserves allowing the continued restructuring to occur while solvent.... just a thought really...

Everyone should simply keep quoting this - not as amusing as the speculation and conspiracy - but at least accurate.

But would it not have been wiser for Leon to dip in before, to avoid admin and at least maintain some sort of sharevalue and allow the club to then sell STs to keep us going? Seems to me, like some fans he put his own personal feelings against Lowe and Wilde ahead of the love the club at that time?

That is a completely differnt scenario - proof of funds - BIG TICK, offer made to only one person (single owner, not creditors with different expectations) TICK, offer accepted TICK begin due dilligence TICK - us on the otherhand in L1 starting off on mnus 10 points - TICK, different creditors with different expectations TICK, limited funds TICK, true picture only relaised when you see the contracts and actual cost base which will dictate/impact on business straegy TICK - see big potential for continuing losses unless at least 10 first teamer sold or contracts renegotiated down... POSSIBLE? to much hassle as dont have the funds to underwrite such losses after spening 15 mil which was a struggle to raise anyway TICK....

As I understand it it is a legal requirement of the PLC board to call in the administrators the moment the company can not honor its payment s to creditors (in this case triggered by Barclays bouncing cheques) as soon as this happened the board had no choice...

NO because they will not have had access to contractual obligations - etc which determine teh minimum cost base for teh next 2-3 years until later in the process of due diligence the first hurdle is showing prof of funds - to cover teh purchase - after that the administrtaor is not interested in whether yu ahve sufficient additional funds to subsidize a loss making business...

Sorry nick but on this occasion I think you are being a bit melodramatic - people leave teh table because they dont liek or cant afford the deal on offer - or their backers turn into figments of the brokers imaginations the moment things get serious - we simply ahve to accept that if our creditors are currently demanding 15 to walk away and leave new owners debt free, but when some one get teh chance to look in detail at the current contractual obligations, assess accuratly the projected revenue from teh gate in L1 and realises that there is possibly a 2-3 mil a year shortgfall which they cant fund they walk away - and thats just one example - there are many more perfectly legitimate examples - teh CReditors set these demands because they have made tehior own assessments of what they feel they will get if liquidated. To blame Fry is clutching at straws - If the Irish pulled out its because they could not afford to fund teh bid ....

It may well be bad news - it could be better news, who knows, but i doubt FRy will resort to the unprofessional balme game - because if we are not bought its simply because there is no one with enough money to satisfy creditors who wants to... end of. Fans boycotting this and calling for that etc will make feck all difference and anyone using that as an excuse is simply desperate to deflect blame rather than simply admit the deal did not work - these things happen all the time FFS. If liquidated, it will be a free for all on assets and what will be will be, but I suspet there will be football at St mary's again in the future, but at what level and under what name is anyones guess.

The biggest irony in that statement being that until relegation from teh prem we were held as a first class example to other clubs of how a club should be run financially as we were one of only a handful that 'lived within our means' - the loss of the SKY money fecked us because despite teh relegation clauses in contracts, unless promoted these were still going to be unsustainable after the loss of the parachute - which did not cover them anyway which is wher the Walcot/Jones money went - Wilde made his promse so money was spent that we did not have which obviously added to the problems when not promoted, BUT the real issue is that the FA/FL let this happen the moment they let teh prem clubs go and that financial gap start to grow... and we were part of that process so have to take part of that blame...

Well LOwe /club did pay 10k for Rodrigues FA cup winners medal - Its sad to see that part of teh clubs history like that are now in the hands of the administrators...

Feck knows...TBH,... I guess it all depends on who holds the rights to the assets - eg player registrations etc, SLH or SFC ltd...

Cool so he has agreed to stump up cash this month as well...so the Echo reported.

Then what was CRouch on about SFC not being in Admin 'cos we payin oi bills' ?

Uhm so all that ranting an raving o the CRouch thread acouple of weeks ago which about how he had bought us time was? Surely in April we still had gate receipts to pay the wages and Mays wages will only just be going out.... something simply dont add up.

Well at least according to th FL we are already in Admin so wont get deducted any further points when SFC ltd actually does go into admin?

BUt thatw as only talked about a week ago?

BUt I though Leon had contributed to paying wages for this month as reported on here???

And how long before someone casts Capt. Hook ;-)