Generic clubs in financial crisis Thread

[Skyline]

The hope of survival means that, despite it being the only immediate and obvious short term solution, they will fight tooth and nail to avoid going into administration and taking the 9 point penalty as a result.

It will beinteresting to know if the PL has a similar rule that states that after a certain period of time into a season, a team going into administration will have the points deduction carried forward into the next season if they would have been relegated without that points deduction in thr current season...

I've been wondering about this as well. If there is such a rule and they get a deferred deduction, and then get relegated, would they then get the full 10pts deduction that the FL impose, or would it just be the 8pts (I thought it was 8pts, not 9) from the PL?

Dirkers, any ideas on the above? I figure you're the one most likely to have an idea on the ins and outs of the matter.

[Wax Jacket]

either way it's a question of seriously pissed-off creditors.

would be interesting to know if the person who first suggested and/or signed off on the Palace investment at the creditor still has a job.

More than likely - they are a secured creditor, so get to claim their security. Not quite sure what that security might be, though, as ISTR the ground is still owned by Ron Noades, despite Jordan claiming he'd bought it off him a few years ago. That creditor may well be Noades, of course - still having the ground as security until all of the debts on it are paid off.

yes true, when you put it like that

[Royal Mail]

http://news.bbc.co.uk/sport1/hi/footbal ... 483735.stm

A big LOL at Cardiff fans who thought the early season ticket sales money would be spent on the squad

[East Grinstead Royal]

Love the photo of Ridsdale!

[Dirk Gently]

Chester & Notts County both had their winding up orders from HMRC heard today, and they were both adjourned. :

Notts County, supposedly about to receive £5m investment from an as yet unnamed source, got a 28 day extension. HMRC agreed to this, but subject to the fact that in 28 days the hearing will be considered final if the club has not got the money the, it will mean liquidation. This does at least allow the mystery investor to complete due diligence, but the future of the club hangs on that being successful. Notts County owe HMRC almost £325,000, and were also faced in court by Marston’s, the brewers, who are owed £95,000. Marston’s were against an adjournment, dismissing the talk of new investment as ‘rumour’.

Chester City owe £26,000 to HMRC and managed to get a 42 days adjournment until 10th March. It looks like the inevitable is just being put off. See here for City Fans Utd and some rants from Chester supporters.

Next up in court against HMRC is Accrington Stanley on 3rd February.

[Mr Optimist]

Love the photo of Ridsdale!

Ooohhh Mr Ridsdale!!

Nice fish tank Mr Ridsdale

[handbags_harris]

What the hell is going on at Cardiff City? Winding up order, thrown out by the court after a deal was reached with the HMRC, season ticket plan where people buy their season tickets now in return for direct investment in the playing squad, leaked stories about unpaid HMRC debts, statements insisting everything is ok and the leaked information has been taken out of context, a new winding up order issued over £2.7 million tax bill cueing another statement insisting everything is ok, the HMRC have agreed to receive their money by 10th February, three players have been lined up to come in by the end of the month. There is obviously something very very wrong and I honestly wonder, with Ridsdale's past records of screwing clubs over, if he is the driving force behind the season ticket idea and then fabricating stories about where the money will go. It does seem a little convenient that £2.7 million is a similar figure to the £3 million "transfer kitty". I foresee one of two things happening in January as a result - Cardiff buy players worth £3 million that they can't afford to ensure the fans believe what was said, or their proposed "purchases" fall through at the "last hurdle".

http://news.bbc.co.uk/sport1/hi/footbal ... 483735.stm

A big LOL at Cardiff fans who thought the early season ticket sales money would be spent on the squad

I was close wasn't I? Peter Ridsdale is a shady character. Is it any surprise that things have gone tits up at Cardiff?

[ankeny]

I hope Chester dont go to the wall because the team to benifit most would be Oxford

[Dirk Gently]

I hope Chester dont go to the wall because the team to benifit most would be Oxford

They will be dead soon - a real basket case. See the below - one of many rants from their supporters.

CHESTER CITY: THE DEATH RATTLE - PART 10
From http://www.twohundredpercent.net

The boycott, as things turned out, only ended up being unofficial for a couple of days. After just 425 people turned out on Tuesday night for their Blue Square Premier match against Salisbury City, the results of a survey carried out by the
supporters' group showed 72% of those polled to be in favour of a boycott of the club's home matches, while 23% "considered it an option". Just 5% of those polled were opposed to the idea. There was no alternative. The boycott was made official on Thursday evening. The only question that now remains is whether there be any matches for the club's supporters to actually officially boycott.

Meanwhile, what is left of the "club" itself was in the process of sticking two fingers up, yet again, at those that had actually spent all season in the vain hope that something good could come from this train-wreck of a season. They had
been summoned to a meeting with the Football Conference on Thursday to discuss their current situation, but only Managing Director Bob Gray turned up, rather than whoever actually is acting as a director of the club at present. Dennis Strudwick of the Football Conference sounded somewhere between amused and perplexed by this decision: "We were looking to meet senior personnel in a decision-making capacity but, without wishing to sound condescending, they sent Bob Gray. Nobody else turned up. We can't deal with the club's former chairman Stephen Vaughan as he is a banned director after failing the 'fit and proper person's test'. But his son is now the named chairman and they also have a new director of football in Morell Maison. We are trying to help the club. We have done our utmost in that respect this season, but we need to speak to them about issues such as whether they have yet paid the wages they owe for November and December. And we now have to reconvene another meeting with them as soon as possible."

[Dirk Gently]

Interesting to note just how many at Old Trafford tonight are wearing green and gold.

[TFF]

Interesting to note just how many at Old Trafford tonight are wearing green and gold.

How many was it then?

[Arch]

Interesting to note just how many at Old Trafford tonight are wearing green and gold.

How many was it then?

227... plus two inflatable dolls and a stuffed panda.

[Stranded]

http://news.bbc.co.uk/sport1/hi/football/teams/c/cardiff_city/8483735.stm

A big LOL at Cardiff fans who thought the early season ticket sales money would be spent on the squad

Could Cardiff fans have a case for misadvertising or misapporpiation of funds? (not that you'd expect them to do anything)

[Smoking Kills Dancing Doe]

I can't stand people getting excited about a club going under, no matter what you think of the way a club is run or the people who run it, the supporters have done nothing wrong and imagine what it would be like if this happened to us.

However if Cardiff go bust, I will dance naked through the streets in celebration.

[Bowman's Quiver]

There is some concern by Palace fans about the whole nature of the ownership of some of their players. It is being suggested that third parties, from whom the club borrowed money, may own certain players contracts as security is much the same way as the West Ham/Tevez arrangement.

If so, they are suggesting a 10-point deduction won't be the end of their worries.

http://www.holmesdale.net/page.php?id=106&tid=94415

[Thaumagurist*]

Interesting to note just how many at Old Trafford tonight are wearing green and gold.

What was that all about then?

[TBM]

Interesting to note just how many at Old Trafford tonight are wearing green and gold.

What was that all about then?

Green and gold until they fold!

Its a Glazer thing

[Thaumagurist*]

I can't stand people getting excited about a club going under, no matter what you think of the way a club is run or the people who run it, the supporters have done nothing wrong and imagine what it would be like if this happened to us.

However if Cardiff go bust, I will dance naked through the streets in celebration.

'greed, I never liked those thugs at Cardiff.

[papereyes]

Interesting to note just how many at Old Trafford tonight are wearing green and gold.

What was that all about then?

Green and gold until they fold!

Its a Glazer thing

I had to explain it to someone last night

I think, as protests go, its a pretty good one. Reminder that the club has been around long before the Glazer boys.

[Thaumagurist*]

I did wonder if it did have anything to do with the colours they used to wear, I remember their horrible away shirt in the mid 90's.