Firstly well done of the fantastic achievement in raising the £500,000 to stay afloat. But am I missing something? From this it appears that this money means you are out of trouble and debt free?
I understood the figure needed to be in the clear was £1,000,000 and a further £500,000 from investment was still required to cover debts. Has this now changed and this extra money isn't required or is it the fact that with cheap season ticket this amount is require for running costs to see the season out?
Adeybull wrote:Its certainly not a transparent process at all - far from it. Especially with prepacks. An administrator will always be able to justify his actions in some way. But that wasn't my point. What I was getting at is that once a business is in administration, there is virtually no way for Joe Public to get to know whether if COULD have been saved without resorting to administration. All we'd have is one camp assuring us that administration was the only option, and the other likely saying the opposite - and adding that it was the first party's intervention that prevented the second party from securing the investment it was pursuing.
And we'll never know the truth of it. But, unto the victor the spoils, and history is usually written by the victors?
I appreciate we'll never know what opportunities have been missed during the saga. I just thought some basic financial information (the size of the debt, how much is cancelled, the pence in the pound paid out to creditors etc) would be made public? Enough information to form an opinion whether Administration was necessary.
At the very least, as a taxpayer, I would feel entitled to know how much HMRC ends up writing off (if we do go into Administration)!
I think when we look back with hindsight over the next few months we'll all see that the regime that's just left did nothing for the club.
All they've ever done is talk the club down and our financial woes up, no wonder nobody wanted to invest! And it's a poor form of masses control, similar to our current governments tactics.
We had a dour regime that took us down to their level, this is sport for christs sake not geopolitics.
Let the good times re-commence, and lets start talking our wonderful club up!
The wheel turns. One of the more positive paragraphs from the piece from Potter;
"It’s beginning to move forward so I think the wheel is starting to turn again. “It froze for a month and now we’re beginning to get those cogs working again. “Hopefully we can now start to re-sign the players that we want to retain and potentially look in the market as well"
The wheel turns. One of the more positive paragraphs from the piece from Potter;
"It’s beginning to move forward so I think the wheel is starting to turn again. “It froze for a month and now we’re beginning to get those cogs working again. “Hopefully we can now start to re-sign the players that we want to retain and potentially look in the market as well"
The worry that I have is in the wording of the auditor being present. Are we being lined up for the old change of a government line. Quote "Now we have seen the books, its far worse than we thought" From there on - Administration.
Hope I am not seeing shadows in every corner, but you do worry.
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