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this if we go bust rubbish

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Slugster

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Seen loads of people saying if we go into administration that the club won't exist anymore,is there an example of a league club that this has happened too,because I'm under the impression all debts are squashed and any new investor gets to buy the club(very cheap) with a clean slate and no debts, may be wrong though
 

Slugster said:
Seen loads of people saying if we go into administration that the club won't exist anymore,is there an example of a league club that this has happened too,because I'm under the impression all debts are squashed and any new investor gets to buy the club(very cheap) with a clean slate and no debts, may be wrong though
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Accrington Stanley, I think.
 
Something would have to be put in place - new consortium/owner with a plan to pay off a % in the pound of debt.

So no debts not totally quashed, but likely reduced. Makes absolutely no sense for the club to go under given assets wont cover debts and the only way to pay them is to keep the club running.

None of the above will happen given it makes no financial sense at all, as the man who stands to lose the most would be Ellis Short himself being our biggest creditor along with SBC (American loan company) and his loan to the club (£60m) and then initial investment in the club/buying it means he's probably in to the tune of approx £180m. He's not going to give that away by letting it go into Administration is he?
 
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Perryqhill said:
Something would have to be put in place - new consortium/owner with a plan to pay off a % in the pound of debt.

So no debts not totally quashed, but likely reduced. Makes absolutely no sense for the club to go under given assets wont cover debts and the only way to pay them is to keep the club running.

None of the above will happen given it makes no financial sense at all, as the man who stands to lose the most would be Ellis Short himself being our biggest creditor along with SBC (American loan company) and his loan to the club (£60m) and then initial investment in the club/buying it means he's probably in to the tune of approx £200m. He's not going to give that away by letting it go into Administration is he?
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What if SBC demand full repayment of their loan because they are worried we go down again and can't afford the normal repayments?
 
Perryqhill said:
Something would have to be put in place - new consortium/owner with a plan to pay off a % in the pound of debt.

So no debts not totally quashed, but likely reduced. Makes absolutely no sense for the club to go under given assets wont cover debts and the only way to pay them is to keep the club running.

None of the above will happen given it makes no financial sense at all, as the man who stands to lose the most would be Ellis Short himself being our biggest creditor along with SBC (American loan company) and his initial investment in the club/buying it means he's probably in to the tune of approx £200m. He's not going to give that away by letting it go into Administration is he?
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So then if it were to happen safc would still exist and most probably be in a better situation than now,for those that think short is the only hope or that's the end are stupid
 
If Mr Short has loaned the club money then surely no way will he put the club in administration. He would only get a fraction of what’s owed to him.
 
mr lordi said:
If Mr Short has loaned the club money then surely no way will he put the club in administration. He would only get a fraction of what’s owed to him.
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Yet people still think that he is saving the club from extinction by not doing it,couldn't be further from the truth
 
Slugster said:
So then if it were to happen safc would still exist and most probably be in a better situation than now,for those that think short is the only hope or that's the end are stupid
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It won't happen. Short has got Bain in and cut costs and is likely using funds from transfers to pay the and loan and hence protect (to some degree) the club and his investment. Get those debts down and the club becomes more saleable again.
 
mr lordi said:
If Mr Short has loaned the club money then surely no way will he put the club in administration. He would only get a fraction of what’s owed to him.
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It happened to Simon Jordan. He lost his fortune. It's not Short you need to worry about, it's other creditors that get twitchy.
 
Perryqhill said:
It won't happen. Short has got Bain in and cut costs and is likely using funds from transfers to pay the and loan and hence protect (to some degree) the club and his investment. Get those debts down and the club becomes more saleable again.
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Just saying it's not the end of the world if it did happen like some think
 
samaistonsrightfoot said:
What if SBC demand full repayment of their loan because they are worried we go down again and can't afford the normal repayments?
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Loan is repayable by 2019 and will likely have to be refinanced anyway. Only if we miss payments could they do anything iirc.

It's likely that the fees we've got coming in over the next few years from the likes of Pickford are servicing that anyway, hence the lack of investment in the team.

Slugster said:
Just saying it's not the end of the world if it did happen like some think
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Points deduction alone would be catastrophic tbh.
 
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Slugster said:
Seen loads of people saying if we go into administration that the club won't exist anymore,is there an example of a league club that this has happened too,because I'm under the impression all debts are squashed and any new investor gets to buy the club(very cheap) with a clean slate and no debts, may be wrong though
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Glasgow Rangers.

Ask Mr Bain about it. He was there before it happened.
 
raba said:
It happened to Simon Jordan. He lost his fortune. It's not Short you need to worry about, it's other creditors that get twitchy.
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Exactly this. Short leaving for the USA and lack of interest is the least of our worries.

By the way MODS, get lost mag label on the OP, cheers.

tynevalleyblackcat said:
Glasgow Rangers.
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Administration would have been acceptable to Rangers however they went much further than that.
 
Rangers ended up in Scottish League Two playing games against teams whose average gates were less than 1,000. I have seen a game at all those clubs and will be honest in that I respect them all far more than Glasgow Rangers. At least they pay their creditors. If you take the piss and don't pay your bills then you have to take what's coming to you. Glasgow Rangers were a joke of a club and most people in Scottish football would agree with that. Its very difficult to argue otherwise to be fair.
 
tynevalleyblackcat said:
Rangers ended up in Scottish League Two playing games against teams whose average gates were less than 1,000. I have seen a game at all those clubs and will be honest in that I respect them all far more than Glasgow Rangers. At least they pay their creditors. If you take the piss and don't pay your bills then you have to take what's coming to you. Glasgow Rangers were a joke of a club and most people in Scottish football would agree with that. Its very difficult to argue otherwise to be fair.
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Southampton,Leicester,palace
 
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