In fairness the deal might be a good one for you. From what you say, you are lucky in having an old fashioned chairman who wants to do well for and as long as he can afford, for a club that means something for him.
We have a management fund representing anonymous investors governed by profit. The media think it is a landlord tenant dispute. It is not, it is about assets and profit beyond a football team.
They have deliberately wound us down, even relegated; to distress the company with the rights to the stadium. They have had options to buy but declined. They have had revised rent but declined.
They threatened to liquidate the club, so AcL went for administration to save our heritage. They put themselves in administration and appointed their own administrator.
They then muddied waters over where the share to compete in the FL lay and where the players contracts lay,within the associate companies.. Only one company was in administration so they created a blind garage sale. They inflated the debt which was owed to
themselves.
We had prospective buyers but their bids were hampered by 'the accounts are a bit of a mess'. And after a deal had been done the Football League, having docked us ten points said, we have cocked up in our administration!
The club was sold To Otium a SISU subsidiary who in April had NOT posted accounts for 2012, had no asserts, and were half way down the road to voluntary liquidation. They still haven't posted accounts and the directors are on a final warning from Companies house along with other SISu subsidiaries for not submitting accounts for last year.
Yet Otium have shown funds to The FL that they can finance the new stadium, take the loss of a move to Northampton over how many years....they have no ongoing negotiation for land in Coventry or joining local authorities.
Remember that decision by The FL was after SISU had threatened to pursue litigation against the FL during a process of legal administration. Basically the FL said the share to compete was held with Ltd the part in administration. SISU argued players registration were in Holdings which were not in administration...they as a company had a legal entitlement to the 'share' and would contest it thought company law not FL rules.
Documentation and accounts last posted suggest players registration were in Ltd all along. The FL who hold the answers...due to their incompetence admit THEy may have registered players under Holdings by mistake
The funds shown to the FL ? are they a sign of their ability to build a stadium or ability to engage in lengthy litigation against the FL?
The FL made a none League Club pay £100,000.00 up front to ensure they could fulfil their fixtures for 2013/14. SISU moving grounds over how many years no one knows? A 1 million pound bond......But folks that is retrospective of them failing to do so. What chance is there of getting 1 million from a liquidated subsidiary run by a savvy outfit like SISU. And Most clubs get docked 15 points by the FL not 10 for administration at he start of a season.
Were we still in administration partly due toFL incompetence and admin errors?
Northampton and every decent Football Club are fucked, your dreams are sterile due to International Investment and a not fit for purpose FL structure!,
This could be your future....please protest to the FL and Bob Ainsworth MP who is running a campaign on behalf of you...
