Admin - liquidation needs clarifying (1 Viewer)

dongonzalos · May 4, 2012

On the radio they just said if Rangers go into liquidation. The players can leave for free. They then said the club can carry on with a new owner in the top division. However they will have to play the youth team as the club have a year long transfer embargo. Punishment not for the liquidation but because of the actions of the previous owner.

If this is correct it sounds like if Cov go into admin we lose ten points and more importantly we lose SISU and most of our debts

If we go into liquidation we lose SISU and all of our debts. a points punishment as well.

We really need the council to come out and say if we have new responsible owners they would talk to them about selling half the stadium

I think with this new investors would be banging on the door. They could negotiate a new contract for rent. Sign new players. Not have the debt and have an agreement with the council if they meet certain criteria they can buy half the stadium

I know there are no investors banging on the door at the moment, as you have to deal with SISU. You have to take on the debts and you have to take on the existing contracts that SISU agreed to.

Am I right is there light at the end of the tunnel?

Loughborough Sky Blue · May 4, 2012

As I understand it, liquidation means the company goes out of business - therefore any new owner would be registering a new club and would have to start again from the bottom league. I am sure rangers is a different kettle of fish because of their importance to the Scottish league system, so they would likely be allowed to remain in the top division.

Liquidation is not a good idea for CCFC!

torchomatic · May 4, 2012

Liquidation isn't light at the end of the tunnel it's a train coming the other way!

I just don't get those who seem to want administration/liquidation. Odd.

dongonzalos said:
Am I right is there light at the end of the tunnel?

italiahorse · May 4, 2012

Are people saying they would sooner liquidate and start again instead of SISU giving it a proper go.

SISU need to give us some hope so we stop these idiotic comments.

Sub · May 4, 2012

torchomatic said:
Liquidation isn't light at the end of the tunnel it's a train coming the other way!

I just don't get those who seem to want administration/liquidation. Odd.

i think it is because they see it as the only option to get SISU out torchy

Sub · May 4, 2012

italiahorse said:
Are people saying they would sooner liquidate and start again instead of SISU giving it a proper go.

SISU need to give us some hope so we stop these idiotic comments.

SISU have created this hatered towards them and people are not will to give them a chance to sort it out because all they have done is lied, stripped the club bare, secured loans against everything and got us relegated!!! so not agreat basis for more trust from the well and truly pissed off fans is it ??

torchomatic · May 4, 2012

Sledgehammer to crack a nut. So people would rather the club went bust and started way down the leagues? I must be in the minority then.

I understand what SISU have done to us, but wishing for liquidation is a little extreme in my view.

italiahorse said:
Are people saying they would sooner liquidate and start again instead of SISU giving it a proper go.

SISU need to give us some hope so we stop these idiotic comments.

Colonel Mustard · May 4, 2012

Sub said:
i think it is because they see it as the only option to get SISU out torchy

That's what makes it so twisted - the only way to get SISU out of the club we love is to push for the end of the club we love?!

Grendel · May 4, 2012

torchomatic said:
Sledgehammer to crack a nut. So people would rather the club went bust and started way down the leagues? I must be in the minority then.

I understand what SISU have done to us, but wishing for liquidation is a little extreme in my view.

No just the minority on here. Really it's madness. People want euthanasia instead of survival yet the consequences of administration or liquidation would impact for years. Notions of forming a new club and starting again is fantasy.
There is no realistic option.
The council debate sums up the distorted view. Non payment of rent is seen as depriving the poor taxpayer yet in the same breath the ever more ridiculous mutton is seen as some sort of torch bearer for the city by even refusing to discuss with sisu selling the share to them. Hold on, surely a sale would release the mortgage and then the taxpayer really will benefit and nearly all taxpayers have no interest in the club.

OyJimmy · May 4, 2012

Jeez Sisu won't liquidate us they will always attempt the Admin route first as it's the best option when trying to recover as much cash as possible.

If Liquidation was chosen that would be the end of the Sky Blues, but only a business run by a complete fool would choose that option first in football because the value of the Sky Blues brand and position in league 1 would be lost overnight, wiping millions off the value of the club. Also under liquidation rules all the players go for free. An administrator on the other hand can realise the value of those assets.

I can't believe so many city fans don't understand why SISU won't choose liquidation first. The council understand it thank God which is why they won't roll over on the Ricoh.

dongonzalos · May 4, 2012

torchomatic said:
Sledgehammer to crack a nut. So people would rather the club went bust and started way down the leagues? I must be in the minority then.

I understand what SISU have done to us, but wishing for liquidation is a little extreme in my view.

Torchy please start actually reading posts before replying.

So far I put a post in telling people if they have not already bought season tickets. Hold off till the last minute. You replied accusing me of trying to make people who have already bought them feel guilty. I made no mention about those who bought them. Above I stated rangers if they go into liquidation will stay in the league. I am asking if this is the case. Would this be the case for cov.
I appreciate you views and replies but please actually read the OP. I have not said let's go into liquidation and start again in the memorial park

italiahorse · May 4, 2012

OyJimmy said:
Jeez Sisu won't liquidate us they will always attempt the Admin route first as it's the best option when trying to recover as much cash as possible.

If Liquidation was chosen that would be the end of the Sky Blues, but only a business run by a complete fool would choose that option first in football because the value of the Sky Blues brand and position in league 1 would be lost overnight, wiping millions off the value of the club. Also under liquidation rules all the players go for free. An administrator on the other hand can realise the value of those assets.

I can't believe so many city fans don't understand why SISU won't choose liquidation first. The council understand it thank God which is why they won't roll over on the Ricoh.

Its the same thing. If you want to get rid of something and no one wants to buy it you liquidate your assets for what you can get. If SISU want to continue with this loss making business then we should let them get on with it. Don't blame them if they want to reduce their losses in the hope that one day it all comes good and lord forbid they move into profit.

OyJimmy · May 4, 2012

italiahorse said:
Its the same thing. If you want to get rid of something and no one wants to buy it you liquidate your assets for what you can get. If SISU want to continue with this loss making business then we should let them get on with it. Don't blame them if they want to reduce their losses in the hope that one day it all comes good and lord forbid they move into profit.

Hell of an assumption that "no one wants to buy it". Where did you get that from SISU?

SISU have never put the club up for sale so how do you know no one wants it?

Colonel Mustard · May 4, 2012

OyJimmy said:
Hell of an assumption that "no one wants to buy it". Where did you get that from SISU? SISU have never put the club up for sale so how do you know no one wants it?

It is a fairly safe assumption considering:

1. the lack of interested parties in 2007
2. the fact that the club is less appealing than it was in 2007
3. that they agreed to meet Hoffman and hear an offer means they are open for business

Astute · May 4, 2012

Colonel Mustard said:
It is a fairly safe assumption considering:

1. the lack of interested parties in 2007
2. the fact that the club is less appealing than it was in 2007
3. that they agreed to meet Hoffman and hear an offer means they are open for business

1, How do you know there has been a lack of interest? Maybe no interest considered by SISU as they are looking for a profit of we don't know how much.

2, We will always appeal to someone at the right price.

3, At the time they admitted to being in talks, but also said they were looking for investment, not selling. Of course they would sell though if someone offered them a profit. They only came to us to make a profit, not for the love of our club

Colonel Mustard · May 4, 2012

Astute said:
1, How do you know there has been a lack of interest? Maybe no interest considered by SISU as they are looking for a profit of we don't know how much.

I didn't say I know - I said it was a fairly safe assumption, which it is. Cast your mind back over the last 10 years - we've had a couple of publicity-seekers (Alki David and Jo Dhinsa), two hedge funds (one of whom walked away), and Gary Hoffman express an interest. Hardly an indication that there's a queue of interested buyers lurking in the shadows.

2, We will always appeal to someone at the right price.

That is baseless speculation, and the kind of dangerous thinking from fans that could lead the club to liquidation.

3, At the time they admitted to being in talks, but also said they were looking for investment, not selling. Of course they would sell though if someone offered them a profit. They only came to us to make a profit, not for the love of our club

Not sure what your point is here. I mean, I agree and said the club was open for business - it was OyJimmy who claimed that the club was not for sale.

Nonleagueherewecome · May 4, 2012

Sub said:
SISU have created this hatered towards them and people are not will to give them a chance to sort it out because all they have done is lied, stripped the club bare, secured loans against everything and got us relegated!!! so not agreat basis for more trust from the well and truly pissed off fans is it ??

Pretty much what does it for me!

Italiahorse: I have already given SISU a "real go". It's cost me a lot of money and time that I'll never get back. I'm not prepared to throw away my time and money again. I am capable of forgiveness-I just don't see anything that shows SISU have learnt lessons: the opposite, frankly.

Grendel · May 4, 2012

dongonzalos said:
I have not said let's go into liquidation and start again in the memorial park

But you have suggested that administration 4 years ago would have been preferable and also suggested the same route now as a means of changing ownership.

dongonzalos · May 5, 2012

Duffy the post is at the start of this have a read.

Also when I suggested people hold off to the last minute before buying their season tickets, on a completely different thread. You replied saying good idea bankrupt the club. Again it is not that big thing to ask. When replying to an OP. Maybe actually do that reply to the actual OP. Not what you change the debate to.

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