[Archived] If we go into administration...

[Roverall]

I'd be really grateful if someone with good business knowledge could spell out what the likely events would be should the club go into administration. Would it see the end of Venkys for sure?

Also, I have seen Philipl say on a number of occasions that in his view there is no way Venkys would let us go into administration for fear of skullduggery being uncovered. Do Philip and others still believe that to be the case? Because from the way some knowledgeable posters put it, the state of the finances is such that administration is a nailed-on certainty.

[tomphil]

Unless the club slipped into admin through non payment of some huge bills or something then I'm not sure they' VE much to gain seeing as most debt is with them or their financiers at least. 

Then again with all these high interest loans etc the landscape might change particularly borrowing against STs that they might not sell.

[roverandout]

Didnt glen say on twitter that the players havent been paid for two weeks? Is this a prelude to admin?

[tomphil]

The first player they can get through the door for cash will probably sort the wages for now. That's why there won't be a plan it'll just be get what we can for who we can. Next will be borrowing against fixed assets.

[47er]

Administration in the close season must be a possibility you'd think.

Very  Raoish for them to leave us starting the new season with a whacking points deduction.

That's if they are aware of it of course.

 

[Commondore]

6 minutes ago, roverandout said:

Didnt glen say on twitter that the players havent been paid for two weeks? Is this a prelude to admin?

Really? Doesn't exactly match up with the performances on the pitch in that time. 

[Batman.]

5 hours ago, Commondore said:

Really? Doesn't exactly match up with the performances on the pitch in that time. 

Shop window.

[Mike Graham]

Just now, Batman. said:

Shop window.

Would you base a team around Lowe or 'Whoopsie' Steele? 

[Batman.]

Just now, preston blue said:

Would you base a team around Lowe or 'Whoopsie' Steele? 

I wouldn't even use them as paper weights.

[Mike Graham]

Just now, Batman. said:

I wouldn't even use them as paper weights.

Danny Graham would make an excellent paper weight.

[davulsukur]

Just like relegation from the premier league and now the championship, administration is the next inevitable step in Venkys ownership.

[chaddyrovers]

Why would Venkys put the club administration and lose all control when its exactly opposite what they know for. 

[Stuart]

Just now, chaddyrovers said:

Why would Venkys put the club administration and lose all control when its exactly opposite what they know for. 

If they think they are in control then they really are deluded.

[Gone to seed]

There's a good summary on administration in this ITV article from 2013:

http://www.itv.com/news/central/2013-03-29/what-does-it-mean-when-a-football-club-goes-into-administration/

[Dunnfc]

Just now, chaddyrovers said:

Why would Venkys put the club administration and lose all control when its exactly opposite what they know for. 

May not have an option when you see the coincidental amount of fixed charges currently held on VHPL

[Mattyblue]

This non payment of wage issue seem to have gone very quiet. Any ITKers know any more?

[Hasta]

37 minutes ago, chaddyrovers said:

Why would Venkys put the club administration and lose all control when its exactly opposite what they know for. 

 

Because there are no assets left to sell and it is going to start costing them even more money than it did over the last couple of years.

If the figures from commentary yesterday are correct, they've got to cut another £5million in costs for next season in order to just keep making the same operating losses they have been making this season. 

[DE.]

51 minutes ago, chaddyrovers said:

Why would Venkys put the club administration and lose all control when its exactly opposite what they know for. 

The moment we started using emergency loans to cover our expenses Venky's lost control of the financial side of the club, possibly on purpose. If they wanted the club to continue on sound financial footing without the spectre of administration looming why not pay the bills? It's all pointing in one very grim direction I'm afraid. 

[K-Hod]

Sky were on a charm offensive yesterday for Venky's, bless 'em.

'Venky's are mortified that this has happened, they've been badly advised'. Imagine just how mortified the supporters are after seven years of their ownership!

'They're continuing to pay the bills'. By selling off the playing squad.....

They own the club, it's their fault.

[NinjaTattoo]

"

WHAT DO ADMINISTRATORS DO?

Administrators are accountants whose job is to get get the best deal for the club and those they owe money (a) to by either finding a buyer or minimising losses.

They are responsible for the running of club and will try and increase revenue. (b)This is generally done by selling off assets (normally the best players) and using contacts to find investment. They may also try and seek a deal with creditors to reduce the amount of debt they have to pay.

In short, administrators are in charge of everything except what happens on the pitch."

(a) surely thats the last thing the Venkys will wont because it will then come to light who really owns us ...right ??

(b) so thats a no go then they already done that.

 

Even if we dont go into Admin what is the real outcome implications of us going down

 

[Iceman]

Just now, K-Hod said:

Sky were on a charm offensive yesterday for Venky's, bless 'em.

'Venky's are mortified that this has happened, they've been badly advised'.

They own the club, it's their fault.

this line is getting old now. Why i say this, i because how many times has people like Battersby and Currie tried to offer their assistance, to buy a share of the club, and do the advising. And on each occasion people tried to help, assist them, or bail them out, they dont bother to reply, to talk to them etc. All im going to say is Venkys, Senior, and the rest, just get lost, sell the club, and let us find our own way with people who love the club. If that means staying in league one for a few seasons to rebuild, so be it

[tomphil]

23 minutes ago, K-Hod said:

Sky were on a charm offensive yesterday for Venky's, bless 'em.

'Venky's are mortified that this has happened, they've been badly advised'. Imagine just how mortified the supporters are after seven years of their ownership!

'They're continuing to pay the bills'. By selling off the playing squad.....

They own the club, it's their fault.

That guy on the mike yesterday had my blood boiling but he's done it every time he's done a live game dropping in the putting money in line and bad advice line as many times as possible. He was the '30 mill per season' guy I think so at least he dropped that but he's been greased up by someone for sure. Did drop in some critic as well to be fair but he insisted on painting Venkys as generous idiots and left out the blatant asset stripping.

[lraC]

2 hours ago, chaddyrovers said:

Why would Venkys put the club administration and lose all control when its exactly opposite what they know for. 

Because they have realised after the meeting in March, that they are private people and want to return to that peaceful, private existence.

[DE.]

1 hour ago, Iceman said:

this line is getting old now. Why i say this, i because how many times has people like Battersby and Currie tried to offer their assistance, to buy a share of the club, and do the advising. And on each occasion people tried to help, assist them, or bail them out, they dont bother to reply, to talk to them etc. All im going to say is Venkys, Senior, and the rest, just get lost, sell the club, and let us find our own way with people who love the club. If that means staying in league one for a few seasons to rebuild, so be it

Absolutely. Maybe they were badly advised by Kentaro in 2011 but what about the six years after that? When does it become their fault as opposed to their advisers? 

Venky's have chosen this route on purpose. They've had plenty of chances to right the ship and plenty of offers to help both financially and otherwise, yet every step of the way they have resisted and continued to steer us towards the rocks. 

They might have been naive once upon a time, though I have my doubts, but even if you accept that they were "badly advised" initially there is no excuse for what is happening now. It's all on their doorstep, but karma seems to be on holiday right now as Venky's other business ventures are at record highs. 

[broadsword]

We've been told before, never ascribe to malpractice that which can be adequately explained by stupidity.

I have to say, I've known my fair share of stupid people, but I can't believe this can be explained by stupidity.

Our club is rotten and infected.