derry

The club will be wound up if it isn't bought out. It's not an issue about points, it is survive or disappear.

I've been told how much, who and pretty close, but I'm still sitting on my hands. It doesn't look like a done deal yet. And the names mean nothing to me.

If you know definitely, fine, if not, it could be wishful thinking. I wouldn't bet on any outcome.

Or we could disappear into history.

Selective memory, there was about £900k on here in the first place and as I said ONLY in the event of imminent liquidation. That would be the only circumstance along with this being the only initiative that it could happen. In any event like so many things events have overtaken us, but your way obviously worked as it saved more of your time doing nothing.

It would only have worked as a last resort before winding up. As it needed time to carry out, IMO at the time it was possible but Fry has run us out of time. Unless he sells it, that's it I'm afraid. At least I can play golf every saturday. It's a bit like a bereavement or a divorce, one gets over it in time.

The operating overdraft is SFC as is the £2m approx assorted debtors, Cedar Press, Catering, Utilities etc etc.

The club owe the debt not SLH, approx £6m.

I understand Salz wouldn't want to buy the stadium so presumably the purchase of the club/associated debt, training ground only. The council to come in and pick up the stadium. This is probably Fry's contingency plan.

Not me mate, I'm not jumping, I just want to collect the wallets for the bucket collection.:cool:

I think you might find they have breached their own rules and it is QC's who will decide any appeal on a point of law. Only time will tell, if there is no sale it won't matter.

Don't jump until I get there.

The only way SFC can survive is to be taken over. It's debts mean it could not go into administration so would be automatically wound up. The creditors are letting it keep going in the hope it will be bought and they will get some or part of their money. SFC could be sold for a £1 with the debts taken over.

No because the assets will have been sold prior to the liquidation.

Either it will be wound up next week or it will survive. To survive it will have to be taken over. It is not in administration, it would not need a CVA, the debts would probably have an agreed payment schedule with the creditors, who have taken their only option to keep the club out of administration. In that case the football club would not have any connection with SLH, it's debts potentially paid and was never in administration. What case could the league now make to deduct the points. Liquidating SLH and selling the assets seperately would be atytractive as the shares would not have to be purchased. The proceeds of the assets if any would go to the shareholders. Staplewood and Jackson's Farm is worth about £2m, SMS is worthless, SFC is over £6m in debt, laying one off against the other and buying the debts for a peppercorn figure, would be the cheapest way out and the best deal for the creditors and the buyers.

Just a bit of lateral thinking. The league have deducted 10 points because SLH is inextricably linked to SFC. If SLH is liquidated and the assets sold, SLH is no longer linked to SFC. So what about the case for a deduction now, SFC survives still out of administration and SLH no longer exists.

To be fair to LM and Mike Osman. Their idea was a good one, to be played 27th April the teams were organised but Fry vetoed it as he said it was sending out the wrong message. At that time it probably would have been a good gate as the pot was still boiling. After that it was a mess.

Fry is probably playing one off against the other. The less favourable bidder is probably desperately trying to buy time to maybe get some more support. The favoured bidder is probably being held at arms length while a bit more is screwed out of them. I just hope we don't end up with a bid that collapses, a bidder that gets hacked off and pulls out and the club gets screwed in the process.

What I fear most, is that with the next pay day on 21st May, unless someone buys out the club it will be wound up. The sad fact if that happens, is that all these so called money men's egos have only succeeded in driving the final nail into the club's coffin, by using up the time available that could otherwise have been used to mount a proper rescue. There is no longer the money or time to do that.

£8000 per week is about £34700 per month.

I doubt they are owed much if anything, it's the football club we are talking about not SLH Ltd.

I personally think the whole administration is based on the club staying out of administration and the creditors allowing this to happen, so that in the event of a sale they will get a major part of their debt paid. The stadium is very much an asset if is sold at the assumed reduced price circa £7m. With it's planning permission for 4 concerts, it's corporate facilities plus the city council's use of facilities gives an income probably exceeding comfortably £1.5m which would show a good profit after any mortgage etc was paid without any income from football. It is a no brainer to buy the stadium from Aviva.

Irrespective of all the other aspects the stadium land is subject to a restrictive covenant which lays down it's permitted use. The company in administration is SLH Ltd which owns a number of companies which own assets or in the case of SFC Ltd the £6m approx debt. SFC Ltd owns the players registrations and potential value but that means nothing if the players aren't paid as they would become free agents. The football club debts will have to be agreed by the creditors or the club would be wound up. That would leave the house of cards collapsed with only an asset sale left and no football club. I would think a large part of the bid is to cover the debts to allow everything to continue.

The trouble is Nick, what we are finding out the hard way, there is a million miles between serious bidder with proof of funds and ok here's the money. The first is easy, the second takes either so much money it doesn't matter or knees turning to jelly. Either way the only fact we have got is all these so called bids are running us out of time.

The bloody tragedy is these people have run us out of time taking 6 weeks to find that out. They need standing against a wall, as for Marc Jackson if this is true he might find it difficult to show his face around here, Bournemouth is one thing, effectively doing the same thing for Saints will really set him up. I just hope there is somebody in left field.