Administration

[Royal Lady]

Have we paid for the "new training ground"? If so, I assume it is in the form of a loan taken out on behalf of RFC, which AZ here or not, we still have to meet payments for. If we haven't paid, why isn't it still functioning as a Golf Club? Whoever comes in would have to take on the debts as well, remember, if no one is close to buying, the club has to try and pay those debts or the A word is looming ever nearer. imo.

[Uke]

Have we paid for the "new training ground"? If so, I assume it is in the form of a loan taken out on behalf of RFC, which AZ here or not, we still have to meet payments for. If we haven't paid, why isn't it still functioning as a Golf Club? Whoever comes in would have to take on the debts as well, remember, if no one is close to buying, the club has to try and pay those debts or the A word is looming ever nearer. imo.

Will administration allow/force us to divest ourselves of these "assets" while reducing the payments to creditors?

[Royal Lady]

Dunno - I would hazard a guess that we'd be trying to divest ourselves of the "new training ground" now in any case - as we couldn't afford to develop it.

[Nameless]

I doubt the position with the training ground is the same as it was last time the question arose - deal done subject to planning, and until that comes through we haven't paid for it. The golf club presumably leased the land and when their lease ran out they left.
How we proceed will depend on what priorities the club set. If we see spending money on the training ground as top priority we will carry on. We need to train somewhere and I would assume we could scale back plans to reduce the cost of the new ground. Not sure where Hogwood comes in- didn't SJM own that himself ? In which case he may be wanting to sell up.

Administration wouldn't allow us to do anything. An administrator would step in and he would be the one making decisions. His sole objective would be to sort out any financial issues and get us back on track financially. I would assume he would take a short term view and depending on what debts there were and who they were owed to would drive what he did.

I still thing that people are taking too much notice of anonymous internet postings of totally unknown credibility. I spoke to several RFC employees at the weekend (no one of any seniority) and none of them had seen anything that smacked of panic measures that you tend to get in businesses on the brink (ie total ban on spending, stopping paying bills, redundancy talk). Doesn't mean things might not go that way but IMHO the internet has a habit of taking the worst that people can make up and assuming it's true.

[melonhead]

my guess is that they see the academy/training ground as top priorities- which is one of the reasons the cloth cutting will be so hard

[Reading4eva]

I doubt the position with the training ground is the same as it was last time the question arose - deal done subject to planning, and until that comes through we haven't paid for it. The golf club presumably leased the land and when their lease ran out they left.
How we proceed will depend on what priorities the club set. If we see spending money on the training ground as top priority we will carry on. We need to train somewhere and I would assume we could scale back plans to reduce the cost of the new ground. Not sure where Hogwood comes in- didn't SJM own that himself ? In which case he may be wanting to sell up.

Administration wouldn't allow us to do anything. An administrator would step in and he would be the one making decisions. His sole objective would be to sort out any financial issues and get us back on track financially. I would assume he would take a short term view and depending on what debts there were and who they were owed to would drive what he did.

I still thing that people are taking too much notice of anonymous internet postings of totally unknown credibility. I spoke to several RFC employees at the weekend (no one of any seniority) and none of them had seen anything that smacked of panic measures that you tend to get in businesses on the brink (ie total ban on spending, stopping paying bills, redundancy talk). Doesn't mean things might not go that way but IMHO the internet has a habit of taking the worst that people can make up and assuming it's true.

Famous last words... The commercial director has been let go

[SPARTA]

Oh dear.

Regarding the training ground, SJM admitted recently that no new training ground means no Cat 1 - and it's looking highly unlikely we'll be building a super-dooper new training ground, so it's only a matter of time the Cat 1 goes as well (unless a wealthy new owner appears)

[Royal Rother]

[westendgirl]

I doubt the position with the training ground is the same as it was last time the question arose - deal done subject to planning, and until that comes through we haven't paid for it. The golf club presumably leased the land and when their lease ran out they left.
How we proceed will depend on what priorities the club set. If we see spending money on the training ground as top priority we will carry on. We need to train somewhere and I would assume we could scale back plans to reduce the cost of the new ground. Not sure where Hogwood comes in- didn't SJM own that himself ? In which case he may be wanting to sell up.

Administration wouldn't allow us to do anything. An administrator would step in and he would be the one making decisions. His sole objective would be to sort out any financial issues and get us back on track financially. I would assume he would take a short term view and depending on what debts there were and who they were owed to would drive what he did.

I still thing that people are taking too much notice of anonymous internet postings of totally unknown credibility. I spoke to several RFC employees at the weekend (no one of any seniority) and none of them had seen anything that smacked of panic measures that you tend to get in businesses on the brink (ie total ban on spending, stopping paying bills, redundancy talk). Doesn't mean things might not go that way but IMHO the internet has a habit of taking the worst that people can make up and assuming it's true.

Famous last words... The commercial director has been let go

Really - after less than a year? Also short sighted if not replaced as that income is necessary too.

[Reading4eva]

I doubt the position with the training ground is the same as it was last time the question arose - deal done subject to planning, and until that comes through we haven't paid for it. The golf club presumably leased the land and when their lease ran out they left.
How we proceed will depend on what priorities the club set. If we see spending money on the training ground as top priority we will carry on. We need to train somewhere and I would assume we could scale back plans to reduce the cost of the new ground. Not sure where Hogwood comes in- didn't SJM own that himself ? In which case he may be wanting to sell up.

Administration wouldn't allow us to do anything. An administrator would step in and he would be the one making decisions. His sole objective would be to sort out any financial issues and get us back on track financially. I would assume he would take a short term view and depending on what debts there were and who they were owed to would drive what he did.

I still thing that people are taking too much notice of anonymous internet postings of totally unknown credibility. I spoke to several RFC employees at the weekend (no one of any seniority) and none of them had seen anything that smacked of panic measures that you tend to get in businesses on the brink (ie total ban on spending, stopping paying bills, redundancy talk). Doesn't mean things might not go that way but IMHO the internet has a habit of taking the worst that people can make up and assuming it's true.

Famous last words... The commercial director has been let go

Really - after less than a year? Also short sighted if not replaced as that income is necessary too.

Maybe he come to the end of a probationary period and hadn't made the cut... All I know is he's gone but as you say the club needs revenue

[Norfolk Royal]

I may be a bit behind here but does anyone actually know who we are supposed to owe this alleged £38-million quid to?

[Extended-Phenotype]

Oh dear.

Regarding the training ground, SJM admitted recently that no new training ground means no Cat 1 - and it's looking highly unlikely we'll be building a super-dooper new training ground, so it's only a matter of time the Cat 1 goes as well (unless a wealthy new owner appears)

Oh dear oh dear.

John Madejski. What a legend.

[maffff]

Oh dear oh dear.

John Madejski. What a ----end.

[Reading4eva]

In the Sun today £20 million in debt

[melonhead]

I may be a bit behind here but does anyone actually know who we are supposed to owe this alleged £38-million quid to?

AZ

[SPARTA]

In the Sun today £20 million in debt

Love the Sun. We were £38m in debt as of last summer... [see accounts]

It'll be plenty higher than that now with this wage bill, and Christ knows how much bigger if we have loaned in the parachute money early. Next accounts will be very interesting.

[Elm Park Pasty]

I may be a bit behind here but does anyone actually know who we are supposed to owe this alleged £38-million quid to?

AZ

This feels like hooking up with a gorgeous bird on your fortnight in Ibiza, only to find that 18 months later she sends you a picture of twins and a letter from the CSA

[Norfolk Royal]

I may be a bit behind here but does anyone actually know who we are supposed to owe this alleged £38-million quid to?

AZ

Really? I thought he bought the club. Can anyone be more specific or knowledgeable on this?

If it is true that we owe this money to Anton then it would only be an administration matter if he decided to call it in.

He is hardly likely to do that as it would mean he would have to accept a tiny amount from an administrator.

As a businessman he would surely seek to sell his share.

If you look at the reasons clubs, or anyone else for that matter, go into administration it is usually because a merciless creditor like HMRC is demanding money, and that is not the case with us as far as I know.

Thoughts on this?

[melonhead]

agree totally- if they go to admin its bad for them, but only if we fail to get the wages under control so they are funded from our income
it would need to get to the point that neither owner had the money to continue funding our losses.



i think the accounts said that our debt had been reduced from 40 odd to 38, and transferred to anton in the takeover
may be wrong
its happened before

[RoyalBlue]

Famous last words... The commercial director has been let go

Really - after less than a year? Also short sighted if not replaced as that income is necessary too.

Maybe he come to the end of a probationary period and hadn't made the cut... All I know is he's gone but as you say the club needs revenue

Of course, Howe may just have been saying it to be kind, but the announcement didn't read that way. Sounded like he had done a good job, produced a good strategic marketing plan but had then fallen victim of the cloth cutting (actually stated that they needed to save money). Furthermore, the club could no longer afford to continue with the implementation of the plan. IMO failure to realise that you can't cut your way to growth.

I may be a bit behind here but does anyone actually know who we are supposed to owe this alleged £38-million quid to?

AZ

Really? I thought he bought the club. Can anyone be more specific or knowledgeable on this?

If it is true that we owe this money to Anton then it would only be an administration matter if he decided to call it in.

He is hardly likely to do that as it would mean he would have to accept a tiny amount from an administrator.

As a businessman he would surely seek to sell his share.

If you look at the reasons clubs, or anyone else for that matter, go into administration it is usually because a merciless creditor like HMRC is demanding money, and that is not the case with us as far as I know.

Thoughts on this?

Pretty much spot on IMO. When it comes to administration of football clubs, HMRC are usually the Grim Reaper married to the Fat Lady. Can't see how it would pay the majority shareholder, particularly if he is the one owed the £38M or whatever it is, to put the club into administration at this stage.