Takeover rumbles on with investors locked in talks (From Swindon Advertiser)

come on pull your finger out and get this buyout done so the club can move forward. we are in a great postion on the field looking for championship football please dont mess this up buy selling a few players.

This all sounds very grim. It is hard to understand why Andrew Black has suddenly placed such a short time line on the sale, which seems like cutting off your nose to spite your face. How is is sensible to conduct a fire sale or put the club into the dreaded administration when you are trying to sell? With the on-field performances so positive, this news is dire. Do hope the next 24 hours bring more positive news.

"specialists are believed to be already in place should they be required to restructure the club's finances".

in plain english you're saying the proposed administrator firm is lined up and standing by, right? or if that's not what you're saying, might be a good idea to explain what you are saying.

For first time since AB wanted to sell I am getting p***ed off.

Come on AB either do a deal ,or agree to another month of paying YOUR clubs outgoings.

Do not put us in ADMINISTRATION PLEASE.

In the daily mail this morning hope this is not true and a copy of the FL paper.
Paolo Di Canio is facing an increasingly uncertain future at Swindon, amid claims the financially stricken League One club will go into administration in the next 24 hours.

A desperate search for new investment to help offset debts of around £13m appears to have failed and left club bosses fearing they may have little alternative but to call in the administrators.

As a consequence, Swindon’s entire first-team squad would be put up for sale, in a move that would leave Di Canio agonising over his next move.


Read more: http://www.dailymail
.co.uk/sport/footbal
l/article-2270370/Pa
olo-Di-Canio-faces-u
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ors.html#ixzz2JRFiFS
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grove red wrote:
In the daily mail this morning hope this is not true and a copy of the FL paper.
Paolo Di Canio is facing an increasingly uncertain future at Swindon, amid claims the financially stricken League One club will go into administration in the next 24 hours.

A desperate search for new investment to help offset debts of around £13m appears to have failed and left club bosses fearing they may have little alternative but to call in the administrators.

As a consequence, Swindon’s entire first-team squad would be put up for sale, in a move that would leave Di Canio agonising over his next move.


Read more: http://www.dailymail

.co.uk/sport/footbal

l/article-2270370/Pa

olo-Di-Canio-faces-u

ncertain-future-Swin

don-Town-administrat

ors.html#ixzz2JRFiFS

xD
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Jesus...............
.

This cant be true........

Please Sam.......

Find out what the hell is going on....

This is fast becoming ridiculous.....

Same old, same old Swindon......

Nothing ever really changes now does it???

Cheers for staying Paolo, was great while it lasted!!!

Before all the fans come on here saying what a looser i am for being down hearted.

Just think back over the last 20 years on what we've all been through...

I read this every morning before shower and work for a little bit of 'Cheer Me Up'
and all ya get is doom and gloom.

To be honest, if i wanted to read and hear shat.........i'd watch the BBC 24 hours News channel.

The workers in this country have been shat on for over 5 years now; the only bit of good was STFC.....

Now, AB taking that flippen thing away too.................
...

Where does this p1ssing thing end........

Rant over......Going for shower and 35 mile trip into work......Great, its p1ssing down too!!!...Hahahaha.

Louis :-(...Oh Happy New Year.....NOT!!!

Sad as it sounds unless somebody up there likes us it looks as if it maybe admin for us.Yet we hang on to that glimmer of hope.
Whereas we have to thank AB/Fitton and co I just feel the overspending may have contributed to our downfall,yet the CEO stated we are within budget.
So no doubt the Fl will pounce deduct 20 points who know's.
Just feel for all those fans in these bad times who have supported the club are being messed on.
Yet it's AB's MONEY and he is fed up with throwing it away So we await the NEWS

Don't understand this at all there is no way a buyer can be found in time as the FA need to conduct there so called due diligence report before a takeover can be complete if its not agreed already how can they get it done in time . Also the article suggests players will be sold ? To where when the transfer window closes something is not right in all of this

louiscassius wrote:

grove red wrote:
In the daily mail this morning hope this is not true and a copy of the FL paper.
Paolo Di Canio is facing an increasingly uncertain future at Swindon, amid claims the financially stricken League One club will go into administration in the next 24 hours.

A desperate search for new investment to help offset debts of around £13m appears to have failed and left club bosses fearing they may have little alternative but to call in the administrators.

As a consequence, Swindon’s entire first-team squad would be put up for sale, in a move that would leave Di Canio agonising over his next move.


Read more: http://www.dailymail


.co.uk/sport/footbal


l/article-2270370/Pa


olo-Di-Canio-faces-u


ncertain-future-Swin


don-Town-administrat


ors.html#ixzz2JRFiFS


xD
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Jesus...............

.

This cant be true........

Please Sam.......

Find out what the hell is going on....

This is fast becoming ridiculous.....

Same old, same old Swindon......

Nothing ever really changes now does it???

Cheers for staying Paolo, was great while it lasted!!!

Its gotta be true if you read it in the daily mail ? Would'nt wipe my arse with that rag .

I thank AB for saving us before but it would be nice for him to grow a pair and come out today and make some kind of statement to say were we are at with the takeover in stead of all the rumours that is going on. please make some kind of statement AB

Transfer deadline cant come quick enough for me.

hornet wrote:
Don't understand this at all there is no way a buyer can be found in time as the FA need to conduct there so called due diligence report before a takeover can be complete if its not agreed already how can they get it done in time . Also the article suggests players will be sold ? To where when the transfer window closes something is not right in all of this

I doubt the taker needs to be 100% completed, just progressed to the necessary level of probability.

Today is Wednesday. Tomorrow is transfer deadline day. I think the time scales for this takeover are pretty obvious. Now. Today. Or risk player sales.

If we can't pay the wages we need to reduce them. Can't see any other ways out of this fact other than a firesale or a takeover.

Why now Mr Black, why.

This unfortunately sounds similar to what happened to the company I work for. Known as pre-pack, where they negotiate to put the company into admnistration and then buy it at much reduced price.

Something is clearly very wrong with our club at the moment. While most of what the Daily Mail says is usually sensational rubbish, there is surely no smoke without fire. Black's motives need to be explained.....why potentially lose everything in administration when an organised sale of a club knocking on the championship door would surely raise millions ? Why was Patey brought in if a panic sell to a local consortium is all that is achieved. He says he is leaving but will he tell us what has gone on in a short few months that has seen the promised three year plan and the hope of serious new investment disappear so quickly ? Despite the uncertainty, Paolo and the team continue to perform on the pitch and it would be tragic to see their efforts wasted....please, please Black, Patey, Watkins, tell us what is happening ?

seems all the talk was just that, hot air. What was the point of it all . They will never tell the trouth cos it will make them look stupid.

fredi wrote:
Something is clearly very wrong with our club at the moment. While most of what the Daily Mail says is usually sensational rubbish, there is surely no smoke without fire. Black's motives need to be explained.....why potentially lose everything in administration when an organised sale of a club knocking on the championship door would surely raise millions ? Why was Patey brought in if a panic sell to a local consortium is all that is achieved. He says he is leaving but will he tell us what has gone on in a short few months that has seen the promised three year plan and the hope of serious new investment disappear so quickly ? Despite the uncertainty, Paolo and the team continue to perform on the pitch and it would be tragic to see their efforts wasted....please, please Black, Patey, Watkins, tell us what is happening ?

Well said!!

If the Daily Mail article is untrue Mr Black then let's see some action to get a retraction.

Daily Mail, a brown publication, always stirring the brown goey carp with little or no fact attached, second only to the FL book of fairy tales. You can read it, but you don't have to believe it.

Don't panic the new investors have more money than you can shake a stick at......hey wait a minute!

'Specialists' = Administrators!

Why weaken your bargening position by making it public that the club has to be sold by any date?

I can't think that Sir W.P. has done us any favours in all this. I thought he was brought in to attract overseas investment? Turns out some mod 10 mins down the road want us.

Perhaps Banbury Utd are after a feeder Club after we go into admin for the 3rd time?

3rd in the league and staring into the abyss again. Why now?It does my head in.

ONLY AT SWINDON COULD THIS EVER BE ALLOWED TO HAPPEN!

This is a worrying 48 hours for all of our fans. If the deal is done in time Paolo could get funds to bring a couple of players in Madine from Sheffield Weds has been mentioned if we dont get the deal sorted in time we will be selling players to cover the rest of the wages for the season.
What a ridiculous position we have put ourselves in yet we have the best chance ever to get to the championship and as much as i respect him for putting his money in the club i think AB is being a big idiotic at the moment with what could happen if we dont sign a deal in time.
He has got some good assetts in the players a great manager, we are third in the table and we could have the rug pulled from under us. He has put 13 million in so far so with what would be required to see the season out and get us promoted his assett would be worth alot more.
Lets hope this deal gets done as we need to keep all the players and especially the manager.
Come on AB get this deal sorted today for the best of STFC.
Weve suffered enough over the years and i really do think we will get more than 10 points if we go into the dreaded A.

I've been worried about this since the moment AB mentioned the A' word. He's playing a very high stake game of poker with the potential purchaser's trying to force them to do the deal. If they don't he'll diminish our attractiveness by selling players.

The problem with this is in my experience no one likes a gun put to their head and actually if we do go into administration they will be pick the club up for a lot cheaper, even without some of our players.

It's made no sense since the start as it only reduces value of players in any "forced sale".

Was happy with a point last night in our second away game of water polo but this is what I feared from the off.

Not even I can dream this will end well, but again as I've said throughout I'd love to be proven wrong.

Have to admit I do not fully understand the financial malarcky but it appears the optimism concerning the takeover has nosedived.
As others have said it was thought SWP was brought in to attract high level investors. Does Banbury United fit that bill?
Lets hope Paolo and the team can remain together.

dreamofacleansheet2 wrote:
I've been worried about this since the moment AB mentioned the A' word. He's playing a very high stake game of poker with the potential purchaser's trying to force them to do the deal. If they don't he'll diminish our attractiveness by selling players. The problem with this is in my experience no one likes a gun put to their head and actually if we do go into administration they will be pick the club up for a lot cheaper, even without some of our players. It's made no sense since the start as it only reduces value of players in any "forced sale". Was happy with a point last night in our second away game of water polo but this is what I feared from the off. Not even I can dream this will end well, but again as I've said throughout I'd love to be proven wrong.

Agree Dreamo. No one likes a gun at their head during any negotiation.

What if these guys walk at the 11th hour? Admin then seems certain with all the horrendous ramifications that brings.

Who the hell will want to touch us with all the barge poles off the Wilts & Berks then!

Who are these investors anyway who's first foray into the game it would appear is Banbury Utd? Hope they're not Pox fans!!

It will be a real shame if the last 18 months or so turns out be for nothing. It's been quite a ride.

BUT.......whoever the manager is, whoever the players are, whichever league we play in, as long as the club survives then we will be there supporting them.

Whilst I got scoffed at at the time I do go back to my initial comment regarding Watkins' upbeat comments in that he is paid to portray positivity and I wouldn't believe a word he says until the 'Sold' sign is up.
---
Equally I still struggle with this whole admin bit as the money could be written off without us losing 10 points (or more) the only thing that can be happening is that not everyone is willing to write down/off their investment, in which case it may not be AB who is causing the problem.....possibly one of the others?

Doomed, we are all doomed.....

Seriously, I understand the concerns and the worries, after all we love our club and want only the best. But the honest truth is we dont know for sure what is going on..... and that is the real cruxt of the matter.

I urge the Board, AB and those in the know to offer up the reassurance that the club will survive - and that is all. Whilst I do not want us to go into administration, I would only accept this - and player slaes, if this is the only way for us to survive. BUT - ffs look where we are! Please AB and our backers, why undo all the hard work achieved and perhaps increase your losses? Surely patience and some continued investment will pay dividends, especially given we can earn promotion? The sale of a Championship side is better than the fire sale of a club that "almost made it but for shortsightedness....
"

Whatever, once again I find myself holding on to the rollercoaster!

Bugger.

Thought I'd have a look to see who this Jed McCrory is and Wiki gave me a laugh:
.....
I'm hoping our electricy bills wont be going up too much:
Frankenstein (2007 film) - It was written and directed by (Jed) Mercurio , adapted from Mary ... Helen (McCrory) as Victoria Frankenstein.
....
Half director and half mad scientist's wife!!??....blimey!!
..what will happen in the physio's room?

SAPFanSTFC wrote:
Whilst I got scoffed at at the time I do go back to my initial comment regarding Watkins' upbeat comments in that he is paid to portray positivity and I wouldn't believe a word he says until the 'Sold' sign is up.
---
Equally I still struggle with this whole admin bit as the money could be written off without us losing 10 points (or more) the only thing that can be happening is that not everyone is willing to write down/off their investment, in which case it may not be AB who is causing the problem.....possibly one of the others?

I think we all know who might not be willing to write off their investment

So from what i can find out Jed McGory has night clubs and is a property developer and a Luton Town fan and his close friends are Brian Stein and Colin Stein but also has alot of contacts in football.

All this is overhyped speculation on an old story picked up by a national paper. The club will not go into administration while Mr Black remains the owner because the main point if administration is to restructure debt and its all owned and owed to the same person.
It is not a five minute negotiation to sell a football club. We just need to be patient and wait to see what comes out. Calling for public statments about private negotiations that won't clear anything up or help at all is ridiculous.
Yesterday, the adver had a piece about Paolo looking to bring in players before the transfer window ended; today the fans think the whole squad is for sale and we're all going to hell in a handcart.
Some perspective needed

I think this all goes to disprove the notion of "internal" loans. The Football League Paper may have got it badly wrong but the fundamental truth is that we are £13m in debt. The debt that was there when AB and co took over is still there, it's just that it's been transferred to them - and they are no longer "internal" people once they decide to pull out.

Stop panicking ! If you believe everything that is printed in the press then you will be pleased to know that we are about to sign Bradley Wright-Phillips.

This story appears in the Sun today and I have as much faith in that as I do in the "Buy in the next 24 hrs or else" story.
Of course it is a bit of a concern but people ( media and fans) keep putting 2 + 2 and making 5.

Chris White doesn't help he's a very negative sports reporter & commontater , he never says anything positive about the club he's meant to support. He really winds me up when I have to listen to him on the radio, for gods sake man get a grip !

Seems a bit strange why it's suddenly a mad rush to sell. Surely with 4 parties one must be willing to buy. Is it a case of trying to speed up a sale and put pressure on the buyers?

We have a real shot at Championship football, this season or next, can't see why all that work would be wasted.

If you remember back to the Fitton consortium taking over, they turned around and walked away from the deal when deadlines were put in place and came back when the previous owners talked sense.... I dont see why Patey was bought in to find the level of buyer we are talking about, maybe the other ex directors owed money are not willing to write enough of it down to make the deal happen, which means we
A. Put the club in administration which means the money will be written down and everyone loses, club fans and directors.
B. sell players and pay some of the debt off so that the takeover can happen without the points deduction.

Either one isn't good.

John Young's Grumpy wrote:
Doomed, we are all doomed..... Seriously, I understand the concerns and the worries, after all we love our club and want only the best. But the honest truth is we dont know for sure what is going on..... and that is the real cruxt of the matter. I urge the Board, AB and those in the know to offer up the reassurance that the club will survive - and that is all. Whilst I do not want us to go into administration, I would only accept this - and player slaes, if this is the only way for us to survive. BUT - ffs look where we are! Please AB and our backers, why undo all the hard work achieved and perhaps increase your losses? Surely patience and some continued investment will pay dividends, especially given we can earn promotion? The sale of a Championship side is better than the fire sale of a club that "almost made it but for shortsightedness.... " Whatever, once again I find myself holding on to the rollercoaster! Bugger.

I don't think it is the fact that the club is up for sale J.Y; it's the timing of it that is the worry.

Could it have come at a worse time one way and another?

Surely AB must have known at the start of the season that he wanted out, or at least some doubt about his willingness or ability to continue funding the club. Why didn't he sell then?

I think the end of month deadline is to do with the players wages, they have to be paid and there is no money in the pot to pay them, unless, as AB has been doing for the last couple of years he puts more money into the club which has said he will not do.

Therefore if the deal is not tied up today, we will have to sell players tomorrow or Friday I guess we will be in administration.

Ritchie and Collins the most likely to go although whether there are bids on the table for either of them I have no idea, A deal for Austin may also help but I doubt whether our part of the fee will come though that quickly

Worrying times for sure, lets hope a deal can be done today

akershaker wrote:
All this is overhyped speculation on an old story picked up by a national paper. The club will not go into administration while Mr Black remains the owner because the main point if administration is to restructure debt and its all owned and owed to the same person. It is not a five minute negotiation to sell a football club. We just need to be patient and wait to see what comes out. Calling for public statments about private negotiations that won't clear anything up or help at all is ridiculous. Yesterday, the adver had a piece about Paolo looking to bring in players before the transfer window ended; today the fans think the whole squad is for sale and we're all going to hell in a handcart. Some perspective needed

Well said akershaker.

I now feel (rightly) chastised as I was slipping into the doom and gloom mood.

Also OiDen! whilst I see your point of view, I cling to the fact that 'we' don't have £13m debt, the owners do. I am not being picky but emphasise this because I just can't see why they would not want the best possible return for their investment and whilst I am not a financial (football aspect) expert, I cant see how administration helps them get ALL their money back?

Oi Den! wrote:
I think this all goes to disprove the notion of "internal" loans. The Football League Paper may have got it badly wrong but the fundamental truth is that we are £13m in debt. The debt that was there when AB and co took over is still there, it's just that it's been transferred to them - and they are no longer "internal" people once they decide to pull out.

No it doesn't. The £13M debt isn't likely to be an issue as such, its the day to day costs of running a club.

If anything it highlights the dangers of what happens when you have a single benefactor covering a budgeted loss, then for whatever reason decides not to put more money in.

Must add I've no idea if we are under/over/on track with the original budget. i.e. whether Black has decided not to continue with what he said he'd put in, or whether he put what he said he would for this season but we have spent it all.

Here is some info on the guy if anyone want to view it. close to Stein and is also heavily involved in funding and sport as well as buisness property development.

http://www.linkedin.
com/pub/jed-mccrory/
17/599/534

The suns rumour is Bradley wright Phillips on Loan

Stilloyal wrote:
Stop panicking ! If you believe everything that is printed in the press then you will be pleased to know that we are about to sign Bradley Wright-Phillips.

This story appears in the Sun today and I have as much faith in that as I do in the "Buy in the next 24 hrs or else" story.
Of course it is a bit of a concern but people ( media and fans) keep putting 2 + 2 and making 5.

Chris White doesn't help he's a very negative sports reporter & commontater , he never says anything positive about the club he's meant to support. He really winds me up when I have to listen to him on the radio, for gods sake man get a grip !

The Daily Slime that is the mail seem to have it in for us at the moment - yesterday a certain 'so called' journalist of the year was ranting at the injustice of attention for the Chelski ball boy incident yet our very own Matt Ritchie got off with a yellow card for his moment at the Pox.....
---
The general comment was how dare they do it to him when Ritchie got off with a slap on the wrist!?....I've only seen TV coverage of both incidents but you have to wonder at times!!

We're all dooomed!!!

Come on, yesterday was positive, have a bit of faith in those involved with the Club, no doubt things are happening behind the scenes hour by hour.
I beleive the 'A' word is not something to worry about although it may be there is no time to bring in players and perhaps CM will go back to Norwich after Saturday and return once the deal is done.

The thing is Black,Arbib,Backhous
e, Fitton, Wray and Watkins were all willing to come here in the beginning. They knew what they were getting into and they also were willing to part with their money, all be it up to a point.
So then comes along one, two and now three ressessions, global turmoil on the stock markets etc. So Black wants some of his money back and doesn't want to put any more in, despite the fact we are now playing better and going forward better than ever before during his tenure at the club. Like others I cannot see the point of cutting off his nose to spite his face, unless, he has some pretty massive commitments elsewhere where the money is now desperately needed. After all it is stated he is putting in around £250k a month. One pound is a lot if you haven't got it, let alone £250k. Don't forget, he wanted shot last summer, so by now he has committed at least another £2Million or more over and above what he was prepared to do. I think that shows some pretty determined positive commitment to this club. I just hope now that he is prepared to see out a couple more weeks given we now have a few buyers in abeyance waiting their turn to commit to this club and hopefully pay him what he is looking for in real terms. As for the Daily Mail, probably not worth the paper its printed on.

As goes Jay, he has money invested, but in real terms its all tied up, £13M is a lot to find and in an unsure market with our third ressession looming, its not going to be easy to find. Lets hope his cohorts are better fettled than he is.

The suns rumour is Bradley wright Phillips on Loan check your wallets town fans and players but I know it's not true

We're going to have to go over old ground once again.

Black has changed his mind, and wants out. There might have been a (loss making) budget in place once, but now he doesn't want to pay operating losses for even a month longer.

He's appointed professional advisors (administrators) to calculate for him which route will minimise his losses in exiting, and he hired Patey to try and find new owners.

The 31 January deadline was set almost certainly to coincide with the closing of the transfer window.

In stark terms there are two outcomes: 1. New owners are found and they pay a sum of money for a portion of the debts, and to take on the assets (our players, well some of them anyway) and drive for the Championship. 2. No owners are found before 31 January and the club is placed into administration and players are sold to realise the value of the assets.

What would have helped is if Black had decided upon this course of action a little earlier, to give at least a couple of months to find new owners before the end of January. It's too rushed.

Hard to believe that someone (e.g. Patey) isn't holding parallel, secret talks about potential sales of players, because there isn't much time left. If the taleover doesn;t go through in time, there isn't much time left in the transfer window, which would sound like firesale at knock-down prices. On the other hand Portsmouth were allowed to sell players outside the transfer window a couple of years ago, so a precedent might have been set.

What he would lose by placing the club into administration is the sell-on fee for Austin. Unless he moves in the next 48 hours, it won't be until the summer.

Nervous times indeed.

grove red wrote:
In the daily mail this morning hope this is not true and a copy of the FL paper.
Paolo Di Canio is facing an increasingly uncertain future at Swindon, amid claims the financially stricken League One club will go into administration in the next 24 hours.

A desperate search for new investment to help offset debts of around £13m appears to have failed and left club bosses fearing they may have little alternative but to call in the administrators.

As a consequence, Swindon’s entire first-team squad would be put up for sale, in a move that would leave Di Canio agonising over his next move.


Read more: http://www.dailymail

.co.uk/sport/footbal

l/article-2270370/Pa

olo-Di-Canio-faces-u

ncertain-future-Swin

don-Town-administrat

ors.html#ixzz2JRFiFS

xD
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Wonder when PDC was meant to have said this?
He seemed reasonably upbeat in his post-match interview last night and to me it come across he was not overly concerned what is happening regarding the takeover.
Lot dots and I's to go over,i am sure something will get done.
Still does not stopping me fretting being a town fan of 44 years!!

Adver Sam is hearing snippets of positive news this morning, according to Twitter. Perhaps today is not going to deliver the gloomy outcome that many of us have been expecting. Fingers very much crossed!!!

swwindon61uk wrote:

grove red wrote:
In the daily mail this morning hope this is not true and a copy of the FL paper.
Paolo Di Canio is facing an increasingly uncertain future at Swindon, amid claims the financially stricken League One club will go into administration in the next 24 hours.

A desperate search for new investment to help offset debts of around £13m appears to have failed and left club bosses fearing they may have little alternative but to call in the administrators.

As a consequence, Swindon’s entire first-team squad would be put up for sale, in a move that would leave Di Canio agonising over his next move.


Read more: http://www.dailymail


.co.uk/sport/footbal


l/article-2270370/Pa


olo-Di-Canio-faces-u


ncertain-future-Swin


don-Town-administrat


ors.html#ixzz2JRFiFS


xD
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Wonder when PDC was meant to have said this?
He seemed reasonably upbeat in his post-match interview last night and to me it come across he was not overly concerned what is happening regarding the takeover.
Lot dots and I's to go over,i am sure something will get done.
Still does not stopping me fretting being a town fan of 44 years!!

There is no direct quote in this article, its all conjecture.

grove red wrote:
In the daily mail this morning hope this is not true and a copy of the FL paper.
Paolo Di Canio is facing an increasingly uncertain future at Swindon, amid claims the financially stricken League One club will go into administration in the next 24 hours.

A desperate search for new investment to help offset debts of around £13m appears to have failed and left club bosses fearing they may have little alternative but to call in the administrators.

As a consequence, Swindon’s entire first-team squad would be put up for sale, in a move that would leave Di Canio agonising over his next move.


Read more: http://www.dailymail

.co.uk/sport/footbal

l/article-2270370/Pa

olo-Di-Canio-faces-u

ncertain-future-Swin

don-Town-administrat

ors.html#ixzz2JRFiFS

xD
Follow us: @MailOnline on Twitter | DailyMail on Facebook

This is nothing but a story cobbled together - 100% lazy journalism (just like another rag of a paper that we all know about) trying to create sensationalist headlines.

Why do people buy these rags? It's beyond me.
COYR

Lot of speculation when no one actually knows except the Board and the potential buyers. The McCrory rumour was started last night and that is all it might be.

The budget was set at the start of the season and I believe we are operating within it. I don't know the ins and outs but would like to believe that the money for the budget is there and available to the club so no sale of players or admin.

On the deadline, is there one or is the rush to actually allow Town to receive additional funds before deadline day ? If the latter then we may just have to settle on the players we have for the remainder of the season with negotiations with new prospective owners continuing at a less frenetic pace.

The whole article by Sam is made up of IFs, BUTs and MAYBEs. At the end of the day, Que sera sera...

COYMR

At least we are talking to investors and as long as that is ongoing there is hope of a satisfactory outcome and solution.

Breaking news in case you are monitoring just this thread,

http://www.thisisswi
ndontownfc.co.uk/new
s/10194388.Town_take
over_complete_subjec
t_to_Football_League
_approval/



Yes, indeedy

John Young's Grumpy wrote:

akershaker wrote:
All this is overhyped speculation on an old story picked up by a national paper. The club will not go into administration while Mr Black remains the owner because the main point if administration is to restructure debt and its all owned and owed to the same person. It is not a five minute negotiation to sell a football club. We just need to be patient and wait to see what comes out. Calling for public statments about private negotiations that won't clear anything up or help at all is ridiculous. Yesterday, the adver had a piece about Paolo looking to bring in players before the transfer window ended; today the fans think the whole squad is for sale and we're all going to hell in a handcart. Some perspective needed

Well said akershaker.

I now feel (rightly) chastised as I was slipping into the doom and gloom mood.

Also OiDen! whilst I see your point of view, I cling to the fact that 'we' don't have £13m debt, the owners do. I am not being picky but emphasise this because I just can't see why they would not want the best possible return for their investment and whilst I am not a financial (football aspect) expert, I cant see how administration helps them get ALL their money back?

The club owes the money to the people who lent it to them, i.e. the (soon to be former) owners. Anyway, it seems this is all being overtaken by events now.

Why are people saying that if the club goes into administration AB gets nothing? He is the main creditor. If someone buys the club out of administration (with the debts removed) for £5m or even £10m, the majority of that will go to AB. Alternatively, if someone buys the club with its £13m of debt in place for say one pound, AB gets nothing but an IOU which may or may not be paid back at some point in the future.