saint si

Really rams home the point that there simply isn't enough time left for those down the road. - They need to find a bidder. Preferably more than one in order to actually create some competition. - The bidder will need to do due diligence of some sort - Working with the bidder, Birch will need to pull together a CVA - The CVA will need to address the issue of the legacy CVA - It will also need to address the issue of Chainrai's charge on FP - Assuming they can construct a CVA they'll have to have to creditors' meeting (by or on 27th April) to vote on it - Depending on who does or doesn't get to vote, the CVA may be approved or rejected - And there are also bound to be legal objections (from HMRC / Baker Tilley) as to whether the old CVA can be diluted by a new CVA or not, as well as from Chainrai (which may then involve AA, who is still administrator of CSI, a major creditor). Wouldn't surprise me if Birch is no longer working flat out on PFC anymore, as I can't see any realistic prospect of anyone paying his fees at the end of all this...

http://www.bbc.co.uk/news/business-17592124

It also says it has to be as soon as is reasonably practicable... so what's stopped him having it already?

Was only a matter of time before that got posted here... Given that it's all the same and we're just a bunch of hypocrites, let's see if we can identify the south coast football club based on the following clues... The club has no debt. The club pay its liabilities when they become due. It is up to date with the tax man. The club owns its ground outright. It's not subject to a transfer embargo It hasn't screwed the tax man, local businesses or charities in the last couple of years. Oh, and the club is way ahead of its business plan, both financially and on the pitch. Any ideas?

The trust says it does not have a target but points out that if 5,000 fans made a commitment of £1,000 it would raise £5m. That's possibly one of the most amusingly phrased things I've ever read. Thank god they are here to teach us all basic multiplication. Question 2 - what do you get if you multiply £20k x 52 weeks x 10 players?

IIRC these accounts are for the year 2010/2011, so we already have increased turnover through simply being in the Championship rather than League 1 ... higher gates and ticket prices, more TV money (and probably more appearances), higher solidarity payments, higher prize money for finishing position (presumably), higher demand for corporate etc...

And just assuming for a moment that the creditors do agree to this (which I think is highly dubious), that still requires a buyer prepared to spend £9m in order to get what exactly...?

Next week will prove very interesting. The stunt that AA pulled in winding up the oldco (for the "forensic investigation") and passing on the golden share to the newco means that newco isn't directly paying the old CVA. Hence Baker Tilley are now in there as a proxy (i.e. newco pays BT who pay the oldco's creditors). Will be interesting to see how this plays out on two fronts... 1) Legal implications - will the old CVA's debt be restored to its full value and added back on to newco? Or will it be viewed as "just another debt" for the purposes of the next CVA (if they get that far). And what will BT's voting rights be in the new CVA? 2) FL implications - will they treat the old CVA as having failed and issue a points penalty?

Better hope the Brighton fans don't hear that or they'll have a tantrum

The parachute system is fundamentally flawed as rather than helping ensure a "soft landing" it promotes a reckless boom and bust mentality. Get to the prem at all costs, because if you do, not only are you guaranteed one season of decent income, but 4 more thereafter even if you're relegated... and in those 4 seasons, why not spend all the money on players and wages (far in excess of those from clubs that don't have the parachute money) in order to do it all again? A far better solution, IMHO, is to require all player contracts to have relegation release clauses. That way any club that gets relegated and cannot cope with the drop in revenue can easily, and without penalty, cut its cost base to match. It would also have a secondary benefit of stopping players from acting like mercenaries. If they knew they could be released without compensation then they might think more carefully about which contracts they sign, and with which clubs. The parachute payments could turn back in to solidarity payments for distribution amongst the FL clubs... thus helping to ensure the survival of the smaller clubs who just struggle day-to-day even without breaking the bank to try and be "competitive", and protecting the great history that our football league has and the diversity and "local-ness" of our 92 clubs.

Remember that the rules I posted are the PL's rules, not the FL's. They are only relevant to PFC2010 where it talks of "relegated clubs" - e.g. parachute payments

http://www.premierleague.com/content/dam/premierleague/site-content/News/publications/handbooks/premier-league-handbook-2011-12.pdf Don't think that's true. Rule C46 is the most relevant.

According to this... http://news.bbc.co.uk/1/shared/bsp/hi/pdfs/19_03_12_day57_bournemouth_southampton.pdf The olympic torch is going to do a lap of SMS. (slow news day)

He's taking it off Hooiveld's head... at least I'm assuming it's Hooiveld. From the angle of his body, you can see he's steaming in to bullet header it.

So the Echo was pre-emptively inaccurate? :-) Shame, he'd just started to find some decent form and confidence, especially after the run for the goal last weekend. No fear, in Mr Sharp, we have a ready-made replacement.

Odd for the Echo to post this then? http://www.dailyecho.co.uk/sport/saints/news/9590445.Promotion_boost_for_Adkins/

It's a fair question, given the limits of loanees per season, and match-day squads... So... I predict whinging about the "unfair" FL loan limits some time soon. "It's stopping us fielding a full squad. They made us offload players and now won't let us get anyone in. But we're not competitive!" etc...

That would be the generic term used at some point by virtually every set of fans in the country for their rivals. Including us for ages before "skates" took hold. Oh no, please don't use that word!

Errrr Leeds?

Send him to the [spinnaker] tower!

Agree and this would be a recipe for disaster. Pay enormous wages to get promoted, rack up massive debts, liquidate, form Phoenix club, take golden share... rinse and repeat until you're in the champions league.

There's a reason he's commentating on Channel 5. http://www.canalathletic.com/noticias/2010-01-06/colores-siglo-20100106.html Surely John Elorduy was determined to fulfill the request, but the fact is that time it was very fast in the capital London and by the time wanted to buy the blue and white shirts in the store were no longer sufficient. Forced to leave for Southampton to catch the boat that would bring him back to Bilbao, the young Bilbao had to improvise. In the port city bought 50 local team jerseys, wearing red and white. Finally, after all, might think Elorduy, these were the colors of Bilbao.

And of course you know the story of where Bilbao got their red and white stripes from...? You're not so far from the truth...

FL&PL should insist on mandatory relegation (or admin) release clauses (for the clubs to trigger if they wish to) in players' and management contracts, and at the same time do away with parachute payments. No excuses for being unable to adapt to the change in income levels if you can release your playing and management staff without financial penalty.

http://fansonline.net/portsmouth/mb/view.php?id=417503