Embargos, HMRC Payment defaults, non payment of wages, the usual under Dai Wrongge

[WestYorksRoyal]

Darren Witcoop jumping on the bandwagon too. Definitely not true then

[Lower West]

Sounds like he gets his info from twitter trolls.

No one has been able to explain why we'd go into administration.

The Directors of the company may have little alternative. Under insolvency law Directors can be found personally liable if there's
Wrongful trading. Worse still if it's deemed to be Fraudulent trading this is considered deliberate in nature and is a criminal offence .

A fine line to walk.

[Pepe the Horseman]

Smudger Smith (former chronicle sports editor) reporting administration before the end of the week according to trusted sources.

Don`t shoot the messenger

Tbf to him, he's been spot on with all the other doom and gloom news this year.

[Stranded]

Earnshaw stating his contacts not stating admin as being close at all.

Nothing is true until it is true but admin would not be good and would not guarantee we see the back of Dai.

[Sutekh]

Earnshaw stating his contacts not stating admin as being close at all.

Nothing is true until it is true but admin would not be good and would not guarantee we see the back of Dai.

Though very often Admin goes with a change in ownership too.

Personally can't see Admin happening unless Dai deliberately puts the club into it himself but that would destroy what little value he has left (but then it's not impossible if he felt he'd just had enough and thought it was actually the best way forward for both him and the club).

Division 4 would see the return of the club after 40 years away though.

[blythspartan]

It’s difficult to know what to believe atm. Logically, I can’t see Dai putting us into to admin, but at the same time I could see him doing it just to spite the protests against him. He’d end with some money and the stadium, and wouldn’t give 2 oxf*rd if we got relegated.

[Hound]

If the reports of bids at about 20m for everything (inc the stadium) are correct then admin with him keeping the stadium (charging us 1.5-2m per year) seem a good deal to him unless I’m missing something

I wouldn’t be surprised at all. It seems to be the direction of travel and a sorry conclusion-ish to the miserable ownership

[WestYorksRoyal]

If the reports of bids at about 20m for everything (inc the stadium) are correct then admin with him keeping the stadium (charging us 1.5-2m per year) seem a good deal to him unless I’m missing something

I wouldn’t be surprised at all. It seems to be the direction of travel and a sorry conclusion-ish to the miserable ownership

Emotions are probably overruling pragmatism for me, but if that's his plan let's find a ground share for long as it takes. Leave him with a white elephant. It's not like we'll be filling 24k seats anytime soon.

[Snowflake Royal]

Earnshaw stating his contacts not stating admin as being close at all.

Nothing is true until it is true but admin would not be good and would not guarantee we see the back of Dai.

How does it not guarantee we see the back of Dai?

When has a club ever gone into administration and not been sold?

[Snowflake Royal]

If the reports of bids at about 20m for everything (inc the stadium) are correct then admin with him keeping the stadium (charging us 1.5-2m per year) seem a good deal to him unless I’m missing something

I wouldn’t be surprised at all. It seems to be the direction of travel and a sorry conclusion-ish to the miserable ownership

Really? So it takes him 3 to 5 years to get to what he'd have if he just sold? And then another 70 years to get the other £50m he wants. And he's still net down.

He's still got to maintain the stadium so that charge isn’t flat profit.

[WestYorksRoyal]

I'll admit to not understanding administration in full. Does Dai still get a say on any proposed sale? Or do administrators have full authority to find preferred buyers and agree a price?

If the latter, Dai is virtually guaranteed to go, and hopefully the administrators focus on suitable owners and not just the highest price.

[Hound]

If the reports of bids at about 20m for everything (inc the stadium) are correct then admin with him keeping the stadium (charging us 1.5-2m per year) seem a good deal to him unless I’m missing something

I wouldn’t be surprised at all. It seems to be the direction of travel and a sorry conclusion-ish to the miserable ownership

Really? So it takes him 3 to 5 years to get to what he'd have if he just sold? And then another 70 years to get the other £50m he wants. And he's still net down.

He's still got to maintain the stadium so that charge isn’t flat profit.

I don’t honestly understand the implications but assume Admin would give him some money for the club whilst keeping the stadium. Which he’d think he could see for that same £20m at a later date (not saying he could but expect that’s his thinking)

Selling now would be quick and easy, but that seems to be the opposite of how he operates

[YorkshireRoyal99]

If the reports of bids at about 20m for everything (inc the stadium) are correct then admin with him keeping the stadium (charging us 1.5-2m per year) seem a good deal to him unless I’m missing something

I wouldn’t be surprised at all. It seems to be the direction of travel and a sorry conclusion-ish to the miserable ownership

Really? So it takes him 3 to 5 years to get to what he'd have if he just sold? And then another 70 years to get the other £50m he wants. And he's still net down.

He's still got to maintain the stadium so that charge isn’t flat profit.

He doesn't need to do anything beyond the bare minimum H&S requirements though and I think the suggestion is that a couple of million from the stadium each year (unless bought outright by someone else) is a far better conclusion for him than administration where he could pocket very little/nothing.

[Snowflake Royal]

If the reports of bids at about 20m for everything (inc the stadium) are correct then admin with him keeping the stadium (charging us 1.5-2m per year) seem a good deal to him unless I’m missing something

I wouldn’t be surprised at all. It seems to be the direction of travel and a sorry conclusion-ish to the miserable ownership

Really? So it takes him 3 to 5 years to get to what he'd have if he just sold? And then another 70 years to get the other £50m he wants. And he's still net down.

He's still got to maintain the stadium so that charge isn’t flat profit.

I don’t honestly understand the implications but assume Admin would give him some money for the club whilst keeping the stadium. Which he’d think he could see for that same £20m at a later date (not saying he could but expect that’s his thinking)

Selling now would be quick and easy, but that seems to be the opposite of how he operates

He can sell the club for £20m and pocket the lot.

Or he can go into administration and get a (big) slice of that, less the administrators fee. And then spend years just getting back to the £20m he could have sold for in the first place from profit from leasing us the stadium, risking getting lumbered with a money pit if we groundshare elsewhere like Coventry did.

Assuming the offer remains £20m and doesn’t go down because the Adminstrators will take what they can get.

[Stranded]

Earnshaw stating his contacts not stating admin as being close at all.

Nothing is true until it is true but admin would not be good and would not guarantee we see the back of Dai.

How does it not guarantee we see the back of Dai?

When has a club ever gone into administration and not been sold?

The small matter of the stadium.

The club would be placed in to admin and likely be sold at a fraction of what he would otherwise get but he would own the stadium. Yes, he would no longer have power over decision making but he could and probably would increase the rent from the current level.

If we do go into admin, and until he happens it is just the latest sad rumour, he would likely see the stadium as a way to claw back money he has put in - so get say 5p in the pound on what the club owe him, then charge say 1.5m per year for the stadium usage.

The only leverage the club would then have is announcing they are off to play at Wycombe/Oxford/QPR/wherever and won't pay a penny less than X or the new owners work with the council to build a new stadium elsewhere to allow Dai to do what ever he wants with the land there.

[leon]

Can someone who actually knows what they're talking about post what the options are and the potential likelihoods?

[Stranded]

Really? So it takes him 3 to 5 years to get to what he'd have if he just sold? And then another 70 years to get the other £50m he wants. And he's still net down.

He's still got to maintain the stadium so that charge isn’t flat profit.

I don’t honestly understand the implications but assume Admin would give him some money for the club whilst keeping the stadium. Which he’d think he could see for that same £20m at a later date (not saying he could but expect that’s his thinking)

Selling now would be quick and easy, but that seems to be the opposite of how he operates

He can sell the club for £20m and pocket the lot.

Or he can go into administration and get a (big) slice of that, less the administrators fee. And then spend years just getting back to the £20m he could have sold for in the first place from profit from leasing us the stadium, risking getting lumbered with a money pit if we groundshare elsewhere like Coventry did.

Assuming the offer remains £20m and doesn’t go down because the Adminstrators will take what they can get.

Now you see, your first mistake here is to think rationally.

Most people in this position would think: Well I oxf*rd that up, ah well I can sell it to this sucker over here for 25m and just get on with my life, still in relative luxury.

Nothing Dai has done to date suggests he would think like that and the fact we are at the stage where someone, somewhere is briefing that the club is about to go into admin and he is still turning down offers, suggests he isn't thinking rationally and either wants to see a regular income from stadium rent or is just screwing the club through some misplaced pride.

[Snowflake Royal]

Earnshaw stating his contacts not stating admin as being close at all.

Nothing is true until it is true but admin would not be good and would not guarantee we see the back of Dai.

How does it not guarantee we see the back of Dai?

When has a club ever gone into administration and not been sold?

The small matter of the stadium.

The club would be placed in to admin and likely be sold at a fraction of what he would otherwise get but he would own the stadium. Yes, he would no longer have power over decision making but he could and probably would increase the rent from the current level.

If we do go into admin, and until he happens it is just the latest sad rumour, he would likely see the stadium as a way to claw back money he has put in - so get say 5p in the pound on what the club owe him, then charge say 1.5m per year for the stadium usage.

The only leverage the club would then have is announcing they are off to play at Wycombe/Oxford/QPR/wherever and won't pay a penny less than X or the new owners work with the council to build a new stadium elsewhere to allow Dai to do what ever he wants with the land there.

Don’t see it. He'd be dead before he saw much more of his money back than he'd get by just selling.

And the important thing is he would be gone from the management of the club.

[Stranded]

Can someone who actually knows what they're talking about post what the options are and the potential likelihoods?

I don't know what I'm talking about but this is HNA so as I see it.

Option 1: Sale of club and stadium, avoids admin
Option 2: Sale of club but not stadium - avoids admin but club must pay rent to Dai
Option 3: Club put into admin - new buyer found, Dai and other creditors get a few pennies in the pound - stadium owned by Dai and we pay rent
Option 4: Same but new owners use the "savings" made by buying the club cheaper to buy the stadium back
Option 5: We find no new buyer before the money totally runs out - liquidation.

In likelihood order at the moment I would go:

2, 3, 1, 4, 5.

It is possible of course that is all being briefed by someone trying to force a deal over the line.

[Stranded]

How does it not guarantee we see the back of Dai?

When has a club ever gone into administration and not been sold?

The small matter of the stadium.

The club would be placed in to admin and likely be sold at a fraction of what he would otherwise get but he would own the stadium. Yes, he would no longer have power over decision making but he could and probably would increase the rent from the current level.

If we do go into admin, and until he happens it is just the latest sad rumour, he would likely see the stadium as a way to claw back money he has put in - so get say 5p in the pound on what the club owe him, then charge say 1.5m per year for the stadium usage.

The only leverage the club would then have is announcing they are off to play at Wycombe/Oxford/QPR/wherever and won't pay a penny less than X or the new owners work with the council to build a new stadium elsewhere to allow Dai to do what ever he wants with the land there.

Don’t see it. He'd be dead before he saw much more of his money back than he'd get by just selling.

And the important thing is he would be gone from the management of the club.

Yes to your second point, which is a start and would be very welcome but on your first, nothing he has done whilst in charge suggests he is a great rational thinker and he may see a regular income of 1m to 2m per year as better than a one off payment now.