Would Admin be a good idea? (1 Viewer)

[ICHAN]

Just a polite discussion here and no SISU hating etc.

If we had the choice do you think we would be better off if SISU put us into administration before we have kicked a ball with the season only being 6 weeks away?

Considering the financial mess the club is in with no money etc etc would it be in everyones interest if SISU did pull the plug and admitted that owning a football club was not as easy as they first thought?

My own opinion on this is:

Yes I do think that it would be a good move for us and them if they did.
OK people may say well no one would buy us etc etc but how long can this go on for, they will eventually not be able to sustain the club much longer unless someone does come in and invest big money, were not talking a million pounds here it is going to take more than that.
Do we really think that no-one would step in and buy us if we did go into admin, personally I think they would, who I do not know but I am sure someone would.
Surely we would be no worse of than we are now, ok we get 10 points deduction or whatever but do it now and not before the season starts.

I think SISU had good intentions when they bought the club, but I feel they did not look fully into what it would take.
By this I mean I think they thought they would come in spend a few million and hope that we would get promoted and they would be laughing, unfortunatly this never happened.
Now I think they are just riding the inevatable out hoping someone is going to come in and buy the club off there hands so they can get some of there investment back without any further investmnent other than what is necessary to keep afloat.

This is not a SISU hate campaign either.

 

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[CovKingChris]

If we were already safe, then yes.

 

[Lord_Nampil]

For the owners no!

 

[Coventry La La La]

If we were already safe, then yes.

I'm sure there's a rule if a teams safe and they go into Admin the points get deducted the next season.

 

[covladzak]

I'm sure there's a rule if a teams safe and they go into Admin the points get deducted the next season.

Leicester and a few other teams helped inact that.

 

[skybluetom]

If we were already safe, then yes.

It doesn't work that way, depending on how it affects your season the points deduction could come in at different times. For example if your already relegated when you go into administration it comes the following season because there's no real punishment obviously if your going down anyway and it works the other way round so we'd start the following season with minus however many points.

Now given we're a lower end Championship team as it is and with administration meaning literally any player that's even reasonably good such as Clingan, Cranie, Wood and Juke would all be sold a points deduction would mean certain relegation. Now with our crowds in league one and with that massive stadium we have continue to rent we're still not going to have any money, before we know it we could possibly end up doing a Luton or a Bradford.

I personally would fear greatly for the club if we entered administration and it's unlikely to happen anyway because the only ones who'd lose out are Sisu. This isn't a Leicester type case where money is owed to banks, local businesses, ex chairmen, boardmembers ect the debt is all owed to Sisu.

 

[PhilWasn'tBabb]

I'm with skybluetom on this, Sisu will not put the club into admin voluntarily as they would more or less be the only people to loss out. If Sisu are themselves having money problems beyond what we know about then you never know.

I seam to remember story coming out about how badly Sisu were hit by the global down turn about a year or so after buying the club. I'm sure that has had a massive effect on how they are having to run the club, they have less money and they are less likely to be able to sell the club.

I don't think Admin is the easy way out it once was, it'll almost certainly mean a period in the league 1 and for every Leicester, Norwich and Man City there is also a Sheffield wednesday, Bradford and Luton.

I guess I'm not sure if it would be a good thing or not

 

[mattylad]

and if you come back out without the agreement of all your creditors they whack you with another 15 points on top of the 10 so no it's not the way forward if we can help it.

 

[ICHAN]

I was hyperthetically thinking about going into admin before the season starts, I do not know how this works? Is it automatic points deduction or does it go on to the end of the season?

And yes SISU would be worse off as all the money invested has been through them and not via banks etc but surely they can not go on forever something has to give, I agree with you also skybluetom about the fear for the club if we do go into admin but how much longer can this go on, where the fans are in such solemn mood regarding the club anyway before the season even starts?

All our top (loosley speaking) players are being linked to different clubs so may be gone anyway before the season starts so we will be using the kids anyway (remind anyone of forest a few years back).

I may be wrong on this and maybe AT has got the players he wants already to sign on the dotted line and waiting for the transfer window to open properly who knows, I do think if there are players lined up they will not be saying anything regarding any players they want after the MK fiasco anyway.

 

[LastGarrison]

I personally think that if we have a reasonable start to the season we may go into admin at Christmas in the hope that we have enough points to survive.

SISU clearly can't carry on losing the money the club is losing each month and as we have no real assets it is a tough situation for them. Do they cut their losses and run or persevere just in case someone does come in for us? However, if I was a potential buyer of the club I would certainly wait until the club went into admin as the price of purchasing the club, the debts when taking over etc. would be considerably less.

Until we own at least half of the ground and start getting some money into the club we are always going to be in a dire situation.

 

[blueflint]

would not want admin at any price lets all get behind the team play good football and turn this club around by increasing the support at games and selling more merchandise it can be done rant over

 

[torchomatic]

I wouldn't have thought administration was ever a good idea.

 

[Disorganised1]

Why would Sisu put us into admin - they'd lose their own money - I don't think they owe the taxman that much.

 

[LastGarrison]

Why would Sisu put us into admin - they'd lose their own money - I don't think they owe the taxman that much.

But if they're losing half a mill a month how can they sustain this? Surely sooner or later they will have to cut their losses and run?

I can't see any way they can recoup their losses bar us performing a minor miracle and getting promoted.

 

[pusbccfc]

no i dont, end up relegated next season
and then sell less than 5000 season tickets meaning around 10000 , and it would be dead as a doe doe
then risk not having a takeover and be in even more trouble
PUSB

 

[Paxman II]

Why would the club be in jeopardy of admin exactly? SISU hold the debt not the banks, no institutions at all. What company would SISU be putting into admin?

 

[mrtrench]

Not going to happen

This will not happen. Let me explain why:

When a company goes into administration it means it is insolvent. Under these circumstances all debts are written off.

You may have read that SISU has put money into the club. Actually it hasn't... not a penny. What SISU has done is lend the club money.

So if SISU were to put the club into administration, it would be writing off all that money in an instant. It would be like a turkey wishing for Christmas.

Therefore it is in SISU's interests to keep the club solvent... unless it decides at some point that the club will never be profitable, or it runs out of money itself. In which case, the club will be insolvent faster than you can say "broke".

 

[cloughie]

which is why we were days away from admin recently, and then put money in, which would suggest they have a whiff of someone interested in buying us