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Stockport into admin


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If anyone, Stockport look in a bad way. The deal with the rugby team is crippling them, and in all reality they are probably best off out of there. No players. No ground. No assets whatsoever. Not exactly an investment opportunity is it?

 

 

 

Exactly like ourselves before TTA bailed us out!!!

 

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What a load of horse....... if they arent deducted the points next season.

 

 

The point of the "this season/next season" thing was not to stop clubs who were safe, but to stop clubs who were going down anyway from going into admin and taking a meaningless deduction. County have "earned" the right to take their points this season by finishing 10 points clear of the drop zone (assuming they get the right results on sat). Would it make sense if Southend went in to admin only to be told it would apply next season?

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Exactly like ourselves before TTA bailed us out!!!

 

Well, except for the land which was one of the reasons we got helped out.

 

And we aren't paying the rugby team money to play in our stadium. Or a percentage of all our transfer fees*.

 

 

 

*Not sure how true this bit is. But if it is true (I've heard a fifth) then no one will take over Stockport and stop in the current ground.

 

 

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The point of the "this season/next season" thing was not to stop clubs who were safe, but to stop clubs who were going down anyway from going into admin and taking a meaningless deduction. County have "earned" the right to take their points this season by finishing 10 points clear of the drop zone (assuming they get the right results on sat). Would it make sense if Southend went in to admin only to be told it would apply next season?

 

 

Not sure about this. No one has the right to swindle their creditors, whether they are doing well on the pitch or not. So teams have to be punished. This is not a punishment at all. It is itself a completely meaningless deduction.

 

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The deduction applies in the current season unless a side would have been relegated anyway.

 

The carry over in to the following season only applies if a club would be relegated without it (a rule brought in after Leeds took the pi$$).

 

Their big problem is going to be coming out of administration agreeing a CVA.

 

 

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The point of the "this season/next season" thing was not to stop clubs who were safe, but to stop clubs who were going down anyway from going into admin and taking a meaningless deduction. County have "earned" the right to take their points this season by finishing 10 points clear of the drop zone (assuming they get the right results on sat).

 

Brighton beat Stockport,and Carslile beat Millwall 18-0!!!!!!

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Depressing day yesterday obviously.

 

We will come out of Admin soon(ish) with new majority owners in place. The irony of all this is that the creditor who petitioned for admin had been told that very morning that they were to be paid in full on Monday. A deal had virtually been agreed for a takeover. Nonetheless they went ahead with admin anyway. Bonkers. They'll now get less than the money they were owed and were to be paid on Monday. :angry:

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The deduction applies in the current season unless a side would have been relegated anyway.

 

The carry over in to the following season only applies if a club would be relegated without it (a rule brought in after Leeds took the pi$$).

 

Their big problem is going to be coming out of administration agreeing a CVA.

 

If a deal is in place though, and you can offer creditors a decent sum, then coming out of admin via a CVA should hopefully be a possibility, unless you pull a bates and offer 1p for every quid owed

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If a deal is in place though, and you can offer creditors a decent sum, then coming out of admin via a CVA should hopefully be a possibility, unless you pull a bates and offer 1p for every quid owed

The Football League demand that 100% of all footballing debts are paid first under a CVA.

 

The Inland Revenue (rightly) take the view that if, for example, County owe Morecambe money and settle that in full, then there is no way on earth that the taxman should accept a reduced amount.

 

Other creditors would be right in arguing the same.

 

If they do have debts to other league clubs, getting out of administration with a CVA in place can be mighty difficult.

 

As for the mysterious creditor and the £300k they are owed, it wouldn't surprise me for a moment if this was a move instigated by the club to ensure the 10 point deduction came this season at a point in time where they realised relegation wasn't going to happen. Publicly their comments suggest this is not the case. But football finance can be a murky world.

 

That O'Grady performance against Crewe effectively kept them up.

Edited by opinions4u
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Correct on the CVA. The fact that our major creditor is Brian Kennedy who is 100% behind what we were trying to do might be of some help. Usually it's the taxman who is the no1 player. 75% of creditors have to agree to the CVA I guess it largely depends on who the other creditors are.

 

 

Utterly wrong on the rest I'm afraid. In another 36 hours we'd have had new owners and no admin. Fact.

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Utterly wrong on the rest I'm afraid.

I didn't position it as fact, did I?

 

And I did acknowledge the club's public comments.

 

But you must admit the timing is convenient. A bit like not banking the season ticket cheques until July.

 

 

In another 36 hours we'd have had new owners and no admin. Fact.

Maybe. Maybe not. You only have the club's public comments to go off to reach that conclusion.

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I didn't position it as fact, did I?

 

And I did acknowledge the club's public comments.

 

But you must admit the timing is convenient. A bit like not banking the season ticket cheques until July.

 

 

 

Maybe. Maybe not. You only have the club's public comments to go off to reach that conclusion.

 

Still wrong though. We've been fighting off admin for months. The cheques were not cashed to protect the supporters who may well have been screwed if we did.

 

I in fact have much more to go on than the club's public comments. I would not suggest that the statement provided was 'fact' unless I know that it was.

 

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Still wrong though. We've been fighting off admin for months. The cheques were not cashed to protect the supporters who may well have been screwed if we did.

 

I in fact have much more to go on than the club's public comments. I would not suggest that the statement provided was 'fact' unless I know that it was.

 

Either way mate hope you get it sorted.

 

Will you still be playing at Edgeley Park next season?

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Still wrong though. We've been fighting off admin for months. The cheques were not cashed to protect the supporters who may well have been screwed if we did.

 

I in fact have much more to go on than the club's public comments. I would not suggest that the statement provided was 'fact' unless I know that it was.

I'll take that at face value.

 

It's a crappy place for a football club to be.

 

Genuinely hope the situation can be turned round and used to push the club onwards and upwards.

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