It's in the EPL rules regarding administration.
What the skate bast(a)rds want to do is sell players now but then loan them back to the skate bast(a)rds for the remainder of the season.
Yet, looking at the info GM posted, the charge from last Autumn would to be appear to be against 90% of the shares of the company and this is where I'm getting really confused.
So, if the HK chap took over 90% of the shares then he can't be a secured creditor and if he changed the charge to against a fix asset (FP) after the WUP was issued he can't place them in voluntary administration?
No matter how much we all rate him, and it's quite clear that 99% of us sane people do, if we aren't there or thereabouts come Xmas he will be under immense pressure.
There can be no excuses next season and there is no place to hide.
Without the parachute payment being advanced they'd struggle to finish the season and what's why pfc met the EPL last week so it could be agreed in principal.
They are out of cash and can't rely on player sales to bring in the cash when it's required.
Regardless of how poor Walsall were collectively Saints were 'kin awesome at times.
From 15mins onwards we were almost camped in their 1/3 of the pitch and the tempo we played at destroyed them.
That's the crux of the matter.
IMHO, forwarding them the parachute payments so the club can function throughout the summer condemns them to years in the wilderness and is a shrewd move by the EPL.
Their genuine EPL players will be off and the remaining ones wages will continue to be a huge drain on a CCC club.