aintforever Posted 28 April, 2009 Share Posted 28 April, 2009 Why don't they just sell Staplewood, the academy property and the farm to cover the shortfall in cash? Seems a bit daft chucking a tenner in a bucket when there are a few assets worth a lot more that are not vital to the existence of the club. Can anyone explain why... Link to comment Share on other sites More sharing options...
James_O_Mac Posted 28 April, 2009 Share Posted 28 April, 2009 because it's more attractive to keep all your assets for possible investors. Link to comment Share on other sites More sharing options...
derry Posted 28 April, 2009 Share Posted 28 April, 2009 Why don't they just sell Staplewood, the academy property and the farm to cover the shortfall in cash? Seems a bit daft chucking a tenner in a bucket when there are a few assets worth a lot more that are not vital to the existence of the club. Can anyone explain why... The club have no assets and £6m debts, the assets you talk about + the lodge belong to SLH Ltd. So selling them won't help SFC Ltd unless the administrator handed over the money, which he wouldn't. Link to comment Share on other sites More sharing options...
aintforever Posted 28 April, 2009 Author Share Posted 28 April, 2009 because it's more attractive to keep all your assets for possible investors. Obviously, but they are talking about the club folding in days here, if we fold there will be no investors. Link to comment Share on other sites More sharing options...
aintforever Posted 28 April, 2009 Author Share Posted 28 April, 2009 (edited) The club have no assets and £6m debts, the assets you talk about + the lodge belong to SLH Ltd. So selling them won't help SFC Ltd unless the administrator handed over the money, which he wouldn't. But I though SFC and SLH were intrinsically(sp) linked? Surely by saving SFC by selling SLH's assets the creditors would stand a better chance of getting more money? Edited 28 April, 2009 by aintforever Link to comment Share on other sites More sharing options...
derry Posted 28 April, 2009 Share Posted 28 April, 2009 But I though SFC and SLH were inexplicebly(sp) linked? Surely by saving SFC by selling SLH's assets the creditors would stand a better chance of getting more money? Intrinsically or inextricably linked. No, SLH would be better off keeping the assets and winding up SFC. Link to comment Share on other sites More sharing options...
aintforever Posted 28 April, 2009 Author Share Posted 28 April, 2009 Intrinsically or inextricably linked. No, SLH would be better off keeping the assets and winding up SFC. But if SFC dies then Aviva would be left with a useless empty stadium in a **** hole area of town. The farm, Staplewood and Academy wont be worth alot, and if SFC folds next Monday then the players all become free agents so they wont get jack for them. Link to comment Share on other sites More sharing options...
Blandford saint Posted 28 April, 2009 Share Posted 28 April, 2009 They may be assets but they are not in cash. Cash flow is what usually finishes most businesses. You can't pay the bills without it, and you can't complete the sale of large, expensive properties in a couple of days. Link to comment Share on other sites More sharing options...
aintforever Posted 28 April, 2009 Author Share Posted 28 April, 2009 They may be assets but they are not in cash. Cash flow is what usually finishes most businesses. You can't pay the bills without it, and you can't complete the sale of large, expensive properties in a couple of days. I'm sure if you are offering land/property at a bargain price then cash can be found or arrangements made with the bank. Link to comment Share on other sites More sharing options...
derry Posted 28 April, 2009 Share Posted 28 April, 2009 But if SFC dies then Aviva would be left with a useless empty stadium in a **** hole area of town. The farm, Staplewood and Academy wont be worth alot, and if SFC folds next Monday then the players all become free agents so they wont get jack for them. The stadium could make about a million a year even if nobody played there. It won't happen. The club will survive. Link to comment Share on other sites More sharing options...
Blandford saint Posted 28 April, 2009 Share Posted 28 April, 2009 How many property deals really go through that quickly? Arranging finance deals with banks cannot just be done in a jiffy, especially in current market conditions. Link to comment Share on other sites More sharing options...
SaintRichmond Posted 28 April, 2009 Share Posted 28 April, 2009 Why don't they just sell Staplewood, the academy property and the farm to cover the shortfall in cash? Seems a bit daft chucking a tenner in a bucket when there are a few assets worth a lot more that are not vital to the existence of the club. Can anyone explain why... What, and ruin Wide& Lowe's Masterplan ??? Link to comment Share on other sites More sharing options...
SaintRichmond Posted 28 April, 2009 Share Posted 28 April, 2009 Intrinsically or inextricably linked. No, SLH would be better off keeping the assets and winding up SFC. Try telling THAT to the Football League Link to comment Share on other sites More sharing options...
SaintDonkey Posted 28 April, 2009 Share Posted 28 April, 2009 Why would anyone buy Staplewood now? Give it a week and you'll be able to pick it up for half the money after Saints goes under. And on a more serious note when did the sale of any property go through in less than a week? Link to comment Share on other sites More sharing options...
aintforever Posted 28 April, 2009 Author Share Posted 28 April, 2009 Try telling THAT to the Football League Exactly, it hardly seems fair that SFC gets docked points because SLH is in admin because they are supposed to be the same. But when it comes to trying to stop itself folding it can't use SLH's assets because they are totally different companies. That is so ****ed up. Link to comment Share on other sites More sharing options...
VectisSaint Posted 28 April, 2009 Share Posted 28 April, 2009 Why don't they just sell Staplewood, the academy property and the farm to cover the shortfall in cash? Seems a bit daft chucking a tenner in a bucket when there are a few assets worth a lot more that are not vital to the existence of the club. Can anyone explain why... Assume you have never tried selling a property and completing in a week. The chance of selling any property and completing the deal in a week is just so unlikely as to be untrue, even in good times, at the moment, you're having a laugh... Link to comment Share on other sites More sharing options...
aintforever Posted 28 April, 2009 Author Share Posted 28 April, 2009 Assume you have never tried selling a property and completing in a week. The chance of selling any property and completing the deal in a week is just so unlikely as to be untrue, even in good times, at the moment, you're having a laugh... There will always be cash buyers at the right price, obviously it takes more than a week for the sale to go through, anyone knows that, but if a deal is done then it's just a case of getting the overdraft extended while it goes through. Link to comment Share on other sites More sharing options...
CB Fry Posted 28 April, 2009 Share Posted 28 April, 2009 What, and ruin Wide& Lowe's Masterplan ??? Which is what? Link to comment Share on other sites More sharing options...
Ponty Posted 28 April, 2009 Share Posted 28 April, 2009 Don't ask, CB.... Link to comment Share on other sites More sharing options...
dubai_phil Posted 28 April, 2009 Share Posted 28 April, 2009 Why don't they just sell Staplewood, the academy property and the farm to cover the shortfall in cash? Seems a bit daft chucking a tenner in a bucket when there are a few assets worth a lot more that are not vital to the existence of the club. Can anyone explain why... hmm and I thought everyone in the UK was an expert in Poker tactics these days what with it on telly and all that Link to comment Share on other sites More sharing options...
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