hypochondriac Posted 1 May, 2009 Share Posted 1 May, 2009 Why has there not been a deadline set for when enough is enough and we fold? Surely this would make everyone clearer on where we stand (including the fans). The deadline keeps being extended to some vague time in the near future. The only reason I can think they are doing this is because they are close to tying up a deal with a party but this ambiguity is doing no one any favours Link to comment Share on other sites More sharing options...
bridge too far Posted 1 May, 2009 Share Posted 1 May, 2009 Hypo, I just posted this on the Channel Islands / Eastleigh thread: With regard to timelines I found this on the Companies House website: No later than 8 weeks after the company enters administration, the administrator must make a statement setting out proposals for achieving the purpose of the administration or explaining why they cannot be achieved. The proposals may include a voluntary arrangement or a compromise or arrangement with creditors or members http://www.companieshouse.gov.uk/abo...tml/gbw1.shtml Is that the sort of deadline you mean? Link to comment Share on other sites More sharing options...
ypbl Posted 1 May, 2009 Share Posted 1 May, 2009 You're right, in that it's frustrating not knowing if there is an ultimate deadline or not. I remember when Coventry were about to go into administration they publicised an absolute deadline of 4pm on a specified date and if no injection of new cash had been seen by that date then they would have gone into admin. http://news.bbc.co.uk/sport1/hi/football/teams/c/coventry_city/7139107.stm Could a similar tactic work when a company is already in administration? Link to comment Share on other sites More sharing options...
bridge too far Posted 1 May, 2009 Share Posted 1 May, 2009 You're right, in that it's frustrating not knowing if there is an ultimate deadline or not. I remember when Coventry were about to go into administration they publicised an absolute deadline of 4pm on a specified date and if no injection of new cash had been seen by that date then they would have gone into admin. http://news.bbc.co.uk/sport1/hi/football/teams/c/coventry_city/7139107.stm Could a similar tactic work when a company is already in administration? I think Darlington have managed to extend the administration period. Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 1 May, 2009 Share Posted 1 May, 2009 Patience, children, patience... ....as my granny used to say. Relax and enjoy the weekend. What will we talk about when all this is settled? Link to comment Share on other sites More sharing options...
Frank's cousin Posted 1 May, 2009 Share Posted 1 May, 2009 Patience, children, patience... ....as my granny used to say. Relax and enjoy the weekend. What will we talk about when all this is settled? Football I hope! Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 1 May, 2009 Share Posted 1 May, 2009 Football I hope! Oh, if only! It is my fervent wish to see some football again before my time is up. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 1 May, 2009 Share Posted 1 May, 2009 How do you know there isn't a deadline? Just because it hasn't been made public doesn't mean it doesn't exist. There is no need to release this information to the fans. Link to comment Share on other sites More sharing options...
hypochondriac Posted 1 May, 2009 Author Share Posted 1 May, 2009 How do you know there isn't a deadline? Just because it hasn't been made public doesn't mean it doesn't exist. There is no need to release this information to the fans. Erm except that fans are donating their money to keep the club alive for an unspecified amount of time. Hypothetically the administrator could just use the fan money to extend the period before liquidation with only the very remotest chance of a takeover. The club then goes into liquidation later than it should have with a load of money wasted Link to comment Share on other sites More sharing options...
hypochondriac Posted 1 May, 2009 Author Share Posted 1 May, 2009 Personally I wouldn't want the club hanging on and using fans funds to keep us alive. I would prefer them to set a date and if no one wants us by then so be it and any monies raised can be put towards the rebuilding in the lower leagues Link to comment Share on other sites More sharing options...
Ken Tone Posted 1 May, 2009 Share Posted 1 May, 2009 A the risk of being a pain in the arse repeating myself, the administrator's duty is to do what is best for the creditors. What we want or need is not material. Looking after the interests of the business is only a secondary concern for him. Looking after the interests of the fans is of no official concern to him at all. In administration is not a pleasant place to be. He will only set a deadline if it suits the creditors' interests. If at any stage he thinks there are bids still to come that might be better than what he has, he will wait. However as I said before I am much more optimistic now than I was before we went into admin. I am not ITK, but going just on the public announcements I think things are going a lot better than they might have done. K. Link to comment Share on other sites More sharing options...
Junior Mullet Posted 1 May, 2009 Share Posted 1 May, 2009 It aint so simple mate. Effectively this will continue until a deal is done or there is no reasonable prospect of there being a deal. Patience. We should be clearer by the end of next week. Link to comment Share on other sites More sharing options...
Clapham Saint Posted 1 May, 2009 Share Posted 1 May, 2009 Erm except that fans are donating their money to keep the club alive for an unspecified amount of time. Hypothetically the administrator could just use the fan money to extend the period before liquidation with only the very remotest chance of a takeover. The club then goes into liquidation later than it should have with a load of money wasted However there is no requirement for the administrator to be fair to fans emotions. Not saying I wouldn't like there to be but MLG is right. He wouldn't have to publish it if there were a deadline. As soon as a deadline is put in the public domain it makes it more dificult to quietly extend it. Fans donating money may allow for the posibility of extending if necessary. Not fair but if it helps Mr Fry do his job I'm sure he will do so. Link to comment Share on other sites More sharing options...
wireframebox Posted 1 May, 2009 Share Posted 1 May, 2009 Surely any final deadline will be linked to when the club effectively runs out of funds for basic operation? Which I thought was within 8 days, and I remember that being about a week ago? Link to comment Share on other sites More sharing options...
Window Cleaner Posted 1 May, 2009 Share Posted 1 May, 2009 Surely any final deadline will be linked to when the club effectively runs out of funds for basic operation? Which I thought was within 8 days, and I remember that being about a week ago? Oooh I expect there's a lot of wool being pulled over a lot of eyes. It's all just Gee Up tactics, are the 4 interested parties falling over themselves to get their bids in? Don't seem to be but who knows. As long as mugs keep handing over money to pay expenses that don't concern them the administrators won't tell them not to do it. They're getting the best deal possible for the creditors like that aren't they. Some of the players we have on our books for next season are scary prospects, frighten them into leaving at lesser terms? why not, good for the creditors cos anyone buying the club won't have to pay them will they. Link to comment Share on other sites More sharing options...
VectisSaint Posted 1 May, 2009 Share Posted 1 May, 2009 Newsround says we fold on Monday if no deal is done Probably a better source than many. Link to comment Share on other sites More sharing options...
Shandy_Top_89 Posted 2 May, 2009 Share Posted 2 May, 2009 Newsround says we fold on Monday if no deal is done Probably a better source than many. Yep what im hearing from anyone who appears to know anything is that, Mark Fry said we fold on the 4th of May without funding, so that would be more than likely correct. Link to comment Share on other sites More sharing options...
Nineteen Canteen Posted 2 May, 2009 Share Posted 2 May, 2009 Why has there not been a deadline set for when enough is enough and we fold? Surely this would make everyone clearer on where we stand (including the fans). The deadline keeps being extended to some vague time in the near future. The only reason I can think they are doing this is because they are close to tying up a deal with a party but this ambiguity is doing no one any favours Eke out a few more contributions from the gulliable fans to ensure the players get paid? Link to comment Share on other sites More sharing options...
Nineteen Canteen Posted 2 May, 2009 Share Posted 2 May, 2009 Personally I wouldn't want the club hanging on and using fans funds to keep us alive. I would prefer them to set a date and if no one wants us by then so be it and any monies raised can be put towards the rebuilding in the lower leagues Hypo any monies raised I suspect have been spent or will be rolled up to the holding company afterall the club I assume is an asset of the holding company. Either way that money contributed will not be coming back so a few fans can go hire a council pitch and and buy a few balls and some kits. Link to comment Share on other sites More sharing options...
stanthemanfairoak Posted 2 May, 2009 Share Posted 2 May, 2009 (edited) Eke out a few more contributions from the gulliable fans to ensure the players get paid?what are you going to[]give?:confused: Edited 2 May, 2009 by stanthemanfairoak Link to comment Share on other sites More sharing options...
John B Posted 2 May, 2009 Share Posted 2 May, 2009 Eke out a few more contributions from the gulliable fans to ensure the players get paid? It is not only the players wages it is also the other backroom staff and apprentices who need paying Link to comment Share on other sites More sharing options...
Amesbury Saint Posted 2 May, 2009 Share Posted 2 May, 2009 Yep what im hearing from anyone who appears to know anything is that, Mark Fry said we fold on the 4th of May without funding, so that would be more than likely correct. on a bank holiday? Link to comment Share on other sites More sharing options...
Shandy_Top_89 Posted 2 May, 2009 Share Posted 2 May, 2009 on a bank holiday? Does seem a bit odd, but it appears to be what people are saying, however i wont deny its probably a load of crap, regardless im pretty sure the deadline is in the next week. :s Link to comment Share on other sites More sharing options...
Nineteen Canteen Posted 2 May, 2009 Share Posted 2 May, 2009 It is not only the players wages it is also the other backroom staff and apprentices who need paying JB that is exactly my point. The players have not to my knowledge taken a paycut a deferral though admirable doesn't actually help in the long term and the club have never advised how these monies collected will be put to good use. I would gladly contribute to those at risk of losing their 2k a month and less but contributing to someone raking in over 20 times that amount and more I personally find it obscene. I have asked the club to explain what they have done to address players wages and not surprisingly I have not received a reply. There are countless examples of employess taking forced or voluntary paycuts in other industries so what makes footballers so precious that they can't follow suit when times are tough for their club? Part of the problem is that over the past 3 years we have IMO employed too many overpaid mercenaries on the pitch and whilst there are obvious examples who don't deserve that tag IMO the majority past and present since 2006/2007 do. Until there is a clear directive from the club as to where donations are being targetted I won't donate a penny so some overpaid and overweight, half-ar5sed contributor of a player can stick £80 of fuel in their oversized 4x4. I have asked for this information but nothing and so have to satisfy myself that I have supported this club through thick and thin regardless of chairmen, performances or opposition and spent thousands of my diminishing disposable income on multiple ST purchases every season and new kits and tracksuits in the mega store for all the 'little Saints' in my family. Donations shouldn't really be required should they John and if they are now doesn't make it right, does it? My conscience is clear so let those who exacerbated the problem do their bit along with those fantastic fans who haven't deserted the club in the run up to administration and still doing it despite any bitterness they may be feeling. Those fans have my sincere admiration but I cannot blindly support their efforts either when it does feel like cash is simply being flushed away down one big black hole. If the club is one the verge of financial collapse taking a few well meaning fans down the same route is pointless and irresponsible IMO and I do not understand why they couldn't simply have said 'Blue Peter' style we need to raise x amount and this is our progress to date, instead of their simplistic comments of 'thank you but still more is needed'. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 2 May, 2009 Share Posted 2 May, 2009 on a bank holiday? When do we have to pay the stadium charges, the interest and this years instalment,I think that's in May, perhaps tax money due as well.If we can't meet those payments i suppose someone could apply for a winding up order but then I'm no expert on the mechanics of insolvency.Wouldn't those bills not being paid increase the debt and make the administrators liable ? Anyway I won't give a bent farthing (over and above the ticket's I've bought recently) whilst Skacel and Euell are still there. Link to comment Share on other sites More sharing options...
Nineteen Canteen Posted 2 May, 2009 Share Posted 2 May, 2009 When do we have to pay the stadium charges, the interest and this years instalment,I think that's in May, perhaps tax money due as well.If we can't meet those payments i suppose someone could apply for a winding up order but then I'm no expert on the mechanics of insolvency.Wouldn't those bills not being paid increase the debt and make the administrators liable ? Anyway I won't give a bent farthing (over and above the ticket's I've bought recently) whilst Skacel and Euell are still there.[/QUOTE] Absolutely correct or until the club have confirmed a 75% pay cut for them both in addition to drastic cuts in wages across the board whilst the club remains in administration. Crouch may not mind carrying a bucket around asking for the not so well off to donate to the very well off but I'm not in a position to be quite so blase about losing £1.60 let alone £1,600,000.00. Out of interest anyone know how much dear old Lawrie has coughed up? Or as a pensioner is it just that he has given up his spare time without concern for his other pressing priorities. If I'm subjected to anymore emotional blackmail and peer pressure I may call Injury Lwyers 4 U! Link to comment Share on other sites More sharing options...
forever a red and white Posted 2 May, 2009 Share Posted 2 May, 2009 it would be nice if a few more players would volunteer to give up their wages. They will earn plently more in the future when all this business is finished, and if they can do one more thing for the fans before most of them do leave its help the club to survive. I know if I was a player and most fans would agree and do the same, they would agree to give wages back to the club. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 2 May, 2009 Share Posted 2 May, 2009 it would be nice if a few more players would volunteer to give up their wages. They will earn plently more in the future when all this business is finished, and if they can do one more thing for the fans before most of them do leave its help the club to survive. I know if I was a player and most fans would agree and do the same, they would agree to give wages back to the club. Nobody has volunteered to give up their wage as far as I know. Some have allowed for it to be deferred to a later date, but we still have to pay them as preferred creditors at the end of the day. Link to comment Share on other sites More sharing options...
SFC Forever Posted 2 May, 2009 Share Posted 2 May, 2009 Patience, children, patience... ....as my granny used to say. Relax and enjoy the weekend. What will we talk about when all this is settled? How about the time we had a club? Who will be in our team next season if we have a new owner/s. Will we make the playoffs? Just for starters. Link to comment Share on other sites More sharing options...
gjphilsaint Posted 2 May, 2009 Share Posted 2 May, 2009 IMO there were 2 possible thresholds... 1 last game at SMS (determining the last income opportunity) 2 last game of the season...(prize money?) so Monday morning it is then... Link to comment Share on other sites More sharing options...
Verbal Posted 2 May, 2009 Share Posted 2 May, 2009 When do we have to pay the stadium charges, the interest and this years instalment,I think that's in May, perhaps tax money due as well.If we can't meet those payments i suppose someone could apply for a winding up order but then I'm no expert on the mechanics of insolvency.Wouldn't those bills not being paid increase the debt and make the administrators liable ? Anyway I won't give a bent farthing (over and above the ticket's I've bought recently) whilst Skacel and Euell are still there.[/QUOTE] Absolutely correct or until the club have confirmed a 75% pay cut for them both in addition to drastic cuts in wages across the board whilst the club remains in administration. Crouch may not mind carrying a bucket around asking for the not so well off to donate to the very well off but I'm not in a position to be quite so blase about losing £1.60 let alone £1,600,000.00. Out of interest anyone know how much dear old Lawrie has coughed up? Or as a pensioner is it just that he has given up his spare time without concern for his other pressing priorities. If I'm subjected to anymore emotional blackmail and peer pressure I may call Injury Lwyers 4 U! So now you're supporting a boycott of the club? Consistency isn't really your strong suit, is it? And perhaps you'd like to explain your personal animosity towards McMenemy. You're "just a ST holder", who's nonetheless demonstrated a comical ignorance of the history of the club, so how do you know anything about McMenemy - other than parroting what you imagine to be Lowe's antipathy? Link to comment Share on other sites More sharing options...
Nineteen Canteen Posted 2 May, 2009 Share Posted 2 May, 2009 So now you're supporting a boycott of the club? Consistency isn't really your strong suit, is it? And perhaps you'd like to explain your personal animosity towards McMenemy. You're "just a ST holder", who's nonetheless demonstrated a comical ignorance of the history of the club, so how do you know anything about McMenemy - other than parroting what you imagine to be Lowe's antipathy? Yes I am supporing a boycott of donations a situation brought on by those who championed and/or supported a boycott all season therefore denying the club the revenue and the ability to survive without handouts including those in a position who can ill afford the contribution. I would respond to all of your second paragraph but I have no idea what you are trying to say. Anyway my views on McMenemy have been well documented and the role he could have played after his management days but through his own misguided agenda chose not to. It's not as though he didn't have an excellent example to follow by following Ted Bates or one of the great ambassadors for football and his club Bobby Charlton. IMO Lawrie McMenemy always knows what buttons to press but it's the motivation for pressing them that has bothered me when he returned to the club and that is just a personal observation. Again, it's just an opinion based on listening to him in the media or reading his articles that he has been counterproductive to the club's progression and at times trying to undermine those who are doing all they can to act in the best interests of the club. IMO no one rates Lawrie McMenemy more highly than Lawrie McMenemy and who does that remind you of? Link to comment Share on other sites More sharing options...
mattyd Posted 2 May, 2009 Share Posted 2 May, 2009 No deadline because SFC is still solvent and paying its way. Simple as that! Link to comment Share on other sites More sharing options...
Saint 76er Posted 3 May, 2009 Share Posted 3 May, 2009 No deadline because SFC is still solvent and paying its way. Simple as that! Sorry Matty, but SFC is stark b*llock broke and can't afford to pay it's way, that is the problem and is why liquidation will follow shortly if no buyer steps in. Well, at least it seems we do now have a deadline if you check the Times article on the 'staff brace for the worst' thread. Apparently, Thursday 21 May is the big day, if we can't come up with 500k by then to pay staff wages due that day. Reports have suggested that LC kicked in to get April wages paid, thus allowing us to complete our fixtures. With the season over today I would suggest that if no buyer has signed on the dotted line by the above date, then we are cactus. To quote (ironically) the Edwin Hawking Singers great hit record.... Oh Happy Day!!! Link to comment Share on other sites More sharing options...
Amesbury Saint Posted 3 May, 2009 Share Posted 3 May, 2009 Yep what im hearing from anyone who appears to know anything is that, Mark Fry said we fold on the 4th of May without funding, so that would be more than likely correct. bump Link to comment Share on other sites More sharing options...
Amesbury Saint Posted 3 May, 2009 Share Posted 3 May, 2009 Apparently, Thursday 21 May is the big day, if we can't come up with 500k by then to pay staff wages due that day. it will be earlier than that, if only to pay wages on 21st they would be sent through the banking system 2 days before. Link to comment Share on other sites More sharing options...
ottery st mary Posted 3 May, 2009 Share Posted 3 May, 2009 No deadline because SFC is still solvent and paying its way. Simple as that! Leon Crouch paying our way til next pay day. Link to comment Share on other sites More sharing options...
Amesbury Saint Posted 3 May, 2009 Share Posted 3 May, 2009 Leon Crouch paying our way til next pay day. but how many pay days? Link to comment Share on other sites More sharing options...
ottery st mary Posted 3 May, 2009 Share Posted 3 May, 2009 but how many pay days? No investors then this could be one last pay day.coming up:(...Uncle Leon can't do this forever.:heart:.Otherwise there will be no inheritance for us children:smt041 Link to comment Share on other sites More sharing options...
Amesbury Saint Posted 3 May, 2009 Share Posted 3 May, 2009 Yep what im hearing from anyone who appears to know anything is that, Mark Fry said we fold on the 4th of May without funding, so that would be more than likely correct. Also according to Wotte the players are in tomorrow. Link to comment Share on other sites More sharing options...
Amesbury Saint Posted 8 May, 2009 Share Posted 8 May, 2009 Yep what im hearing from anyone who appears to know anything is that, Mark Fry said we fold on the 4th of May without funding, so that would be more than likely correct. got past 4th may! Link to comment Share on other sites More sharing options...
trousers Posted 8 May, 2009 Share Posted 8 May, 2009 got past 4th may! May the 4th be with you? (yes, that rustling noise is indeed the sound of me reaching for my overcoat...) Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 9 May, 2009 Share Posted 9 May, 2009 I am pretty sure we need to have new owners by the time the next lot of bills are paid, somewhere aroud the 20th! Link to comment Share on other sites More sharing options...
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