trousers

He heads up 'VS Investment Group' according to the Times..... The Times has learnt that the offer to buy the struggling Barclays Premier League club was made by VS Investment Group, which Vega heads ....however, that is UK registered too....

I don't know for sure...just my interpretation of what was posted

Bugger

At least they're not in bits and pieces

Are you my wife?

It depends how slippery the slope that we are currently on is (IMHO)....languishing at the foot of League One this coming season could cause a domino effect of doom and gloom....a more buoyant season at the top end of a lower league COULD get us back up the ladder quicker in the long run.....perhaps....

But, reading how Darlington are coming out of administration, if we accept the 10 points now (thus admiting the football club is in admin), and can then satisfy the CVA requirement of doing so, there is no longer enough time before the start of the season to complete the CVA process so we would get docked more points for starting a new season whilst still in admin regardless of whether we challenge the 10 points or not. Well, that's my understanding anyway....

CREDITORS of Darlington Football Club have accepted administrators' proposals which are expected to enable the Quakers to start next season with no points deduction. Companies and creditors with a value of 93 per cent value of the club's £7.8m debt passed the Company Voluntary Agreement (CVA) today. Only one creditor turned up to the meeting with the rest of the creditors voting by proxy. The club needed at least 75 per cent worth of the creditors to accept the proposals for the CVA to be passed. The document also had to be passed by more than half of the creditors unconnected with the club - 85 per cent voted in favour. All football creditors, including players and other clubs, will receive all their debt. Unsecured creditors, including councils, the tax man, local businesses, have accepted just 0.9p in the pound. Dave Clark, from administrator Brackenbury Clark & Co, was confident the CVA would enable Darlington to start the forthcoming League Two season without any further points penalty. He said: "It was a bit of formality really. Most of the creditors voted by proxy which is a piece of paper they submitted instructing the chairman to vote on their behalf." The CVA will return control of the club to former chairman George Houghton, but he is in advanced stages to sell it on to his previous vice-chairman Raj Singh. The administration process will take between four and eight weeks to complete enabling an appeal process and all paperwork to be finalised. After that the sale can be completed with Mr Singh and the club can offer contracts to players and management who have agreed to sign.

I just knew there'd be a get out clause for us....quick, someone tell the Football League....

Looking at the report of Darlington coming out of Admin and only just scraping the timetable deadline for start of season I think the 'demotion and clean slate' is, alas, looking more and more palatable than milling around at the foot of League One all season

the Darlington Echo actually says "4 to 8 weeks"....

Blimey....that puts a different perspective on things....(the article quoted actually says "4 to 8 weeks to complete the admin process once the CVA is agreed).....the bottom line being that this will still be going on when (if??) the season starts...during which period we can't sign players etc.... One word: bad

Good question! Have been asking myself the same thing for 2 years! Almost a good analogy (me speaking from a position of little strength of course!)....trouble is, Saints do not currently have a big knob. We currently have a one inch knob but with minor erectile disfunction....the choice is between a one inch knob with even worse erectile disfunction or a half inch knob with no erectile problems.

It was more than a case of 'being led to believe'....Mawhinney stated we could appeal on national television!

Thinking out loud (dangerous I know...), if it comes to it, could/would Pinnacle sell the 'intellectual property' (knowledge, paperwork, etc) that they gleaned during their 3 week exclusivity period to the next preferred bidder in-line in order to: (a) expedite the process for the next bidder and (b) recoup some of their costs?

Absolutely - I posted the same elsewhere on here earlier. As you say, surely the steps of the actual procedure they are asking Pinnacle to follow are not subject to NDAs or secrecy.

Which may mean that they are 'more capable' of absorbing a maximum point deduction, if that were to transpire, than the two other bids? (e.g. by greater up-front investment in players) Who knows

Being a pessimist, I voted 'no' (yesterday)

I guess it depends what 'worst case scenario' their bid and 'investment plan' was based on. Here's hoping that they pre-empted that the FL were likely to "move the goalposts" otherwise we could be back at square one IMHO

If it was 'just' about the 10 points, most people on here were/are in favour of biting the bullet and getting on with it. That would be the pragmatic approach. IMHO it has to be about more than 10 points that they are spending a hefty sum on legal fees for

Aye, could well be true...I guess the question I'm posing is more about the principle behind trying our luck in League One with a swinging points penalty or wiping the slate clean in a lower league, whatever that league may be.

That's spooky - just seen "Tony Lynam" mention the very same act in the post above....

How about the 'Unfair Contract Terms Act' ? http://www.legislation.gov.uk/RevisedStatutes/Acts/ukpga/1977/cukpga_19770050_en_1

What scenario do you think would work out best for the club in the LONG TERM? Starting in League One on -25 points (which I fear is where we could be heading if the FL 'win the legal battle' with Pinnacle) or Starting in League Two on zero points (I'm not sure if this is a feasible sanction in our current circumstances but has been mooted on here as a possibility)

The FL's reaction to SFC going into Admin, in addition to the holding company, would indeed be 'interesting' IMHO