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Something "big" going to happen

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Hep said:
how does that work if there is no money?
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Sell off assets to pay debts to other clubs is my understanding. Would sort of make sense because and I'm clueless at this but if we owe say £5 million for players ( it'll be more), we loan players out we can't sell so that we can say they are a write off as assets as no one will buy them. We then say our assets have lost all their value, we can't afford to maintain them ( pay their wages) and have to go into admin. I'm guessing it's like if you but a fishing boat with the idea that it'll make you money via fish caught. Actually, the boat is shit and you are a shit fisherman so the boats not worth as much as you paid for it, you can't pay for it with fish caught and you give it to someone else who knows what they're doing fishing wise who can get a few haddock out of it. Or summit.
 

But as said before if this happened Short would lose everything. So why would he go administration route. It would cost him more in the long run surely
 
Hep said:
how does that work if there is no money?
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Leicester went into administration off the back of the ITV digital collapse. They were going to put money into the championship and try and do what Sky had done to the Premier League. A few clubs got into trouble because they thought they were going to get a fortune from it. I'm sure they got promoted the year they went into administration. I think the new laws were brought in when Leeds pulled a fast one. They knew they were knackered and going down, so filed for administration to take the 10 point hit, meaning they could start with 0 next season.

Hep said:
how come Leicester, southampton etc got away with it
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Was meant to quote this.
 
The Great MES said:
According to a lad from work who's relation works for the club. Loads of rumours circulating amongst staff that something is going to happen in the next few weeks/months. Apparently the atmosphere there is quite despondent. He also said that Channel 5 are currently filming at the Sol/Aol for a forthcoming documentary
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sunderland v shields in the fa cup third round

and it wouldn't be the shields fans who were shitting themselves in the lead up
 
gavinmcant said:
Sell off assets to pay debts to other clubs is my understanding. Would sort of make sense because and I'm clueless at this but if we owe say £5 million for players ( it'll be more), we loan players out we can't sell so that we can say they are a write off as assets as no one will buy them. We then say our assets have lost all their value, we can't afford to maintain them ( pay their wages) and have to go into admin. I'm guessing it's like if you but a fishing boat with the idea that it'll make you money via fish caught. Actually, the boat is shit and you are a shit fisherman so the boats not worth as much as you paid for it, you can't pay for it with fish caught and you give it to someone else who knows what they're doing fishing wise who can get a few haddock out of it. Or summit.
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Key expressions
'I'm guessing'
'I'm clueless'
You cant just go changing asset values the way you suggest.
 
I thought Sunderland fans had more than half a brain.

This board has proved me wrong.

There's no administration you muppets.
 
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