If they were successful the other day, they would not have been able to shut the power off before the game.Will be interesting to see what happens on Tuesday 3rd October wont it.
Bailiffs/nPower workers I guess will again be waiting to shut the power off at RH, pending the judgement, just before we kick off v Oxford City.
Will the lights go out for one final time?
Will be interesting to see what happens on Tuesday 3rd October wont it.
Bailiffs/nPower workers I guess will again be waiting to shut the power off at RH, pending the judgement, just before we kick off v Oxford City.
Will the lights go out for one final time?
www.southendunited.co.uk
LS
“The club would first need to pay in full the salaries of all players and management, as well as the league and other clubs for any transfer fees not yet paid (understand Altrincham are still waiting to be paid in full for Dan Mooney”
Wasnt Mooney signed on a free ?
BLUES SIGN DAN MOONEY
Southend United Football Club are delighted to confirm that Dan Mooney has become our first signing of the summer after the attacker agreed a two-year deal with an option in the Club's favour.
I guess if anything was due it could be training compensation but even if that were that case is there not a case therefore that all football creditors weren’t paid ?
My head hurts !
Excellent post.
The mention of Scunthorpe is particularly relevant and I would suggest everyone read this statement issued by their current chairman
Whilst it of course deals with Scunthorpe its wo the looking at some of the numbers quoted to try and gain some true context in terms of the sums involved in running a NL club
Official Statement from Club Chairman David Hilton | Scunthorpe United FC
Firstly I would like to start by thanking so many of you for the support I have received over the last week. It has helped me considerably and contributed to me making some very difficult decisions.www.scunthorpe-united.co.uk
when bailiffs turn up unexpectedly…Will be interesting to see what happens on Tuesday 3rd October wont it.
Bailiffs/nPower workers I guess will again be waiting to shut the power off at RH, pending the judgement, just before we kick off v Oxford City.
Will the lights go out for one final time?
I think administration in the way you describe it is unlikely.Tweet above has been shared - but it's now been confirmed that the appeal was refused yesterday and the 10 point deduction remains in place (no surprise there).
I do, however, stand corrected and it is in fact a further 10 point deduction if we enter administration (https://s3.eu-west-1.amazonaws.com/files.pitchero.com/leagues/13676_1691057466.pdf) - not that it eases the pain much.
Just to clarify a few points from my Tweet:
- The case involving nPower is at Chelmsford Magistrates' Court on 3 October 2023 at 10am - not the Crown Court, as someone said above, or in the High Court, as the Echo are reporting.
- When I tweeted "will not be at High Court on 4 Oct, but would not say why" - this is about the club, not specifically Ron (perhaps could have been worded better on my part, but restricted to a character limit).
- Ron was certain about the court hearing not going ahead 4 October 2023 - which suggests either the money owed will be settled in full, he hopes to have some sort of deal done with HMRC and the other creditors, or he is content for us to enter administration.
- I fear the latter, and Justin Rees' statement (https://www.shrimperzone.com/forums/threads/justin-rees-statement-20th-september.116191/) the following day noted "As such, it has been our strong preference to avoid Administration, however this is of course not within our control." For me, the fact he is addressing administration makes it seem that this is inevitable and he is making clear that this is not his fault, hence mention of the two bids this week that have failed.
Been told Sky Sports News mentioned the toy rat protests during the game the other night. Also great that ITV News highlighted the protests and current situation at the club last night - we need as much national exposure as we can get at present. ITV will continue to monitor the situation.
A few people jumped on my back 3 or so months ago when I tweeted "Little reported by Chris Phillips & the Echo.". I made it clear that I wasn't knocking Chris or his efforts. His footballing reporting is great. However, there had been little pressure or exposure of Ron Martin at the time by the Echo. The front page today, though, is excellent, albeit too late.
The protests need to be ramped up. Two home games left before 4 October, one of which is a Tuesday night game the day before. This Saturday is key. Hopefully something else is on the horizon, in addition to the march, which will again bring us some much-needed coverage.
If we enter administration then the consequences are ghastly:
If we do enter administration the protests need to be like never before.
- 10 point deduction (almost certainty for relegation to the NL South, but you never know with these boys)
- The hope would be to generate a better return for creditors than they would get in a liquidation and try to rebalance the books so to speak
- The club would first need to pay in full the salaries of all players and management, as well as the league and other clubs for any transfer fees not yet paid (understand Altrincham are still waiting to be paid in full for Dan Mooney)
- The accountants put in charge then try and secure the best deals on all the monies owed to the creditors - this is preferential for them as they'd get less if we were liquidated
- HMRC would obviously only then be paid a fraction of what it is owed
- Likely that our most valuable assets would be sold to assist with this, i.e. our best players
- The club cannot be in administration for more than 18 months
- Liquidation is a threat - if the accountants find that the club does not own enough assets to pay the creditors then we will be liquidated and closed down (look at Chester, Darlington, Bury, etc.)
- Administration is not necessarily the end though (look at Southampton, Huddersfield, Derby, Stockport, etc.)
I am told that Justin Rees is still working away on a negotiations, but Ron is yet to accept anything on the table.
Also been told that there was someone from another group at the game on Tuesday night possibly interested in buying the club, but that is no where near as advanced as the Australian consortium.
Just praying for this mess to come to an end. The players, management staff and fans do not deserve this.
#MartinOut
Whilst you are correct that in the vast majority of transfer fees are paid over a period of time LS said “All the fee” which to me suggested nothing had been paid
Out of the EFL window, and a distressed sale, in realistic terms not enough..
I think that training compensation has to be paid up front
The Administrator will attempt to sell the Club as a going concern, which is a sort of positive. However, I fear more for our management team remaining intact as he or she would be looking to cut costs to try and match expenditure to income.Tweet above has been shared - but it's now been confirmed that the appeal was refused yesterday and the 10 point deduction remains in place (no surprise there).
I do, however, stand corrected and it is in fact a further 10 point deduction if we enter administration (https://s3.eu-west-1.amazonaws.com/files.pitchero.com/leagues/13676_1691057466.pdf) - not that it eases the pain much.
Just to clarify a few points from my Tweet:
- The case involving nPower is at Chelmsford Magistrates' Court on 3 October 2023 at 10am - not the Crown Court, as someone said above, or in the High Court, as the Echo are reporting.
- When I tweeted "will not be at High Court on 4 Oct, but would not say why" - this is about the club, not specifically Ron (perhaps could have been worded better on my part, but restricted to a character limit).
- Ron was certain about the court hearing not going ahead 4 October 2023 - which suggests either the money owed will be settled in full, he hopes to have some sort of deal done with HMRC and the other creditors, or he is content for us to enter administration.
- I fear the latter, and Justin Rees' statement (https://www.shrimperzone.com/forums/threads/justin-rees-statement-20th-september.116191/) the following day noted "As such, it has been our strong preference to avoid Administration, however this is of course not within our control." For me, the fact he is addressing administration makes it seem that this is inevitable and he is making clear that this is not his fault, hence mention of the two bids this week that have failed.
Been told Sky Sports News mentioned the toy rat protests during the game the other night. Also great that ITV News highlighted the protests and current situation at the club last night - we need as much national exposure as we can get at present. ITV will continue to monitor the situation.
A few people jumped on my back 3 or so months ago when I tweeted "Little reported by Chris Phillips & the Echo.". I made it clear that I wasn't knocking Chris or his efforts. His footballing reporting is great. However, there had been little pressure or exposure of Ron Martin at the time by the Echo. The front page today, though, is excellent, albeit too late.
The protests need to be ramped up. Two home games left before 4 October, one of which is a Tuesday night game the day before. This Saturday is key. Hopefully something else is on the horizon, in addition to the march, which will again bring us some much-needed coverage.
If we enter administration then the consequences are ghastly:
If we do enter administration the protests need to be like never before.
- 10 point deduction (almost certainty for relegation to the NL South, but you never know with these boys)
- The hope would be to generate a better return for creditors than they would get in a liquidation and try to rebalance the books so to speak
- The club would first need to pay in full the salaries of all players and management, as well as the league and other clubs for any transfer fees not yet paid (understand Altrincham are still waiting to be paid in full for Dan Mooney)
- The accountants put in charge then try and secure the best deals on all the monies owed to the creditors - this is preferential for them as they'd get less if we were liquidated
- HMRC would obviously only then be paid a fraction of what it is owed
- Likely that our most valuable assets would be sold to assist with this, i.e. our best players
- The club cannot be in administration for more than 18 months
- Liquidation is a threat - if the accountants find that the club does not own enough assets to pay the creditors then we will be liquidated and closed down (look at Chester, Darlington, Bury, etc.)
- Administration is not necessarily the end though (look at Southampton, Huddersfield, Derby, Stockport, etc.)
I am told that Justin Rees is still working away on a negotiations, but Ron is yet to accept anything on the table.
Also been told that there was someone from another group at the game on Tuesday night possibly interested in buying the club, but that is no where near as advanced as the Australian consortium.
Just praying for this mess to come to an end. The players, management staff and fans do not deserve this.
#MartinOut
I worked for a Print Co in 1990 which went into administration, They are brutal in so much as their simple aim is to cut costs, & they don't give a damn about who they discard to save money. IF this happens with us, i fear we'd be ruined?.
