kowenicki Posted February 28, 2020 Share Posted February 28, 2020 22 minutes ago, League one forever said: On the contrary. Finally he’s done the decent thing. You do know he could be shafting himself here? If nobody comes forward, he’s left 7 million out of pocket. It ain’t happening! My guess is, we will finally see who the mystery backers of the FLG are, or he’ll have to dramatically lower his asking price. This is the best long term news that could of happened in our current situation. Eh? Nonsensical post. He owns the ground regardless. He isn’t out of pocket in anyway. Link to comment Share on other sites More sharing options...
kowenicki Posted February 28, 2020 Share Posted February 28, 2020 16 minutes ago, League one forever said: Quite. But by making himself a creditor he’ll have to accept whatever the administrator can get him. Or he gets nothing. For the rent yes... he owns the ground. Link to comment Share on other sites More sharing options...
jorvik_latic Posted February 28, 2020 Share Posted February 28, 2020 Just now, kowenicki said: For the rent yes... he owns the ground. And the debenture debt which looks like he’ll lose as well. Guess he thinks he won’t be paid for it anyway. Link to comment Share on other sites More sharing options...
GlossopLatic Posted February 28, 2020 Share Posted February 28, 2020 11 minutes ago, Careca9 said: Blitz may realise it’s a long term disaster and best way is to cut his losses shut the club down and get his money back from selling the land for houses once the club is gone. Either way TTA shouldn’t have been allowed to strip assets leaving only the badge for sale with no way of being sustainable long term and AL should not have been sold the club. All in all a terrible position The club didn't have any assets in 2004 they bought the ground of the council which the club sold to them in 2000 to stop going bankrupt. So no Asset stripping took place. That said hes played his part in this current shitshow with him and his mates creating a string of false dawns. My hope here is that the FLG or Blitz have people in the background ready to take over which is why he pulled the trigger now. Although that maybe very wishful thinking and another false dawn. Link to comment Share on other sites More sharing options...
kowenicki Posted February 28, 2020 Share Posted February 28, 2020 6 minutes ago, jorvik_latic said: And the debenture debt which looks like he’ll lose as well. Guess he thinks he won’t be paid for it anyway. Was never getting that. After admin he’ll still own the ground and won’t even blink. Link to comment Share on other sites More sharing options...
League one forever Posted February 28, 2020 Share Posted February 28, 2020 2 minutes ago, kowenicki said: Eh? Nonsensical post. He owns the ground regardless. He isn’t out of pocket in anyway. Missed you Kow. I’ll rephrase. Just for you. I know you love the detail. Why is any buyer going to pay even a partial payment on historical debt(Rent) to an administrator without wanting the whole lot? It’s completely unviable. So either Blitz lowers his asking price for the ground he owns - thus losing on out on his initial investment. Or he doesn’t and we go under. If we do- how do you think he’ll go on selling a 7 million white elephant stand on a former football ground? Do you think he’ll make all his money back?? No. Neither do I. Link to comment Share on other sites More sharing options...
singe Posted February 28, 2020 Share Posted February 28, 2020 Interesting that it's scheduled only a week away. Even if he could stump up the cash, hard to find over £1/2m that quick. I know this has been brewing and behind the scenes he will have been well aware it has been coming to this. Link to comment Share on other sites More sharing options...
underdog Posted February 28, 2020 Share Posted February 28, 2020 it was always going to come down to two people Al and Blitz and tatics with who did what and when. IF we we did go into admin before 27th March, then we take the -12 point deduction. This might be better now with only one team dropping, rather than a -12 hit at the start of next season if we are still here. 125 years of history on a knife edge Link to comment Share on other sites More sharing options...
kowenicki Posted February 28, 2020 Share Posted February 28, 2020 Just now, League one forever said: Missed you Kow. I’ll rephrase. Just for you. I know you love the detail. Why is any buyer going to pay even a partial payment on historical debt(Rent) to an administrator without wanting the whole lot? It’s completely unviable. So either Blitz lowers his asking price for the ground he owns - thus losing on out on his initial investment. Or he doesn’t and we go under. If we do- how do you think he’ll go on selling a 7 million white elephant stand on a former football ground? Do you think he’ll make all his money back?? No. Neither do I. He wasn’t anyway... it’s worth a couple of million tops in the real world. Only the FLG believed it was worth more... or did they? Perhaps if it becomes a “former football ground” he will smile... knock it all down... and develop it (more than 7m). Hoops to jump through first obviously, but stranger things have happened. Link to comment Share on other sites More sharing options...
wiseowl Posted February 28, 2020 Share Posted February 28, 2020 Haven't caught up with all the facts here, so apologies if I misunderstand the situation. I presume the Administration application is against the "club" owned by AL. AL does not own any of the ground (just has a lease on it from "Blitz"). In that case, this is not actually that big a drama. The "club/badge" may fold in its current guise (and maybe a fire sale of our some of our "better" players), it will be bought from the Administrator, the club can be re-formed and will play again at BP. Mechanisms will be put in place to bring everything under one umbrella this time and the club/ground will be sold to a responsible owner. If things happen quickly, we'll take the points deduction this season and still survive in the league by the skin of our teeth (thanks to a dire Stevenage and the sad demise of Bury). In other words "take two" - and in between the first "sale" and the second we've endured a relegation and witnessed some of the worst football and treatment of our fans ever. Daft as it sounds, I`ve not been this optimistic for a while. This needed to come to a head and, if it results in a sweeping brush through Boundary Park (and boy does it need it), then the future will look a lot brighter. I`m just going to sit back and watch the process unfold. Hopefully be buying a season ticket under new owners in the not too distant future. Link to comment Share on other sites More sharing options...
jorvik_latic Posted February 28, 2020 Share Posted February 28, 2020 11 minutes ago, kowenicki said: Was never getting that. After admin he’ll still own the ground and won’t even blink. And that’s why Blitz can put the club into admin without going through the courts. Link to comment Share on other sites More sharing options...
LightDN123 Posted February 28, 2020 Share Posted February 28, 2020 So what exactly has blitz called in to put us into admin ? Anyone update me on whats happened here Link to comment Share on other sites More sharing options...
rudemedic Posted February 28, 2020 Share Posted February 28, 2020 37 minutes ago, disjointed said: Time for the red fleece to make an appearance. At the job centre? Oh wait he's got that fat police pension hasn't he. Link to comment Share on other sites More sharing options...
mick26 Posted February 28, 2020 Share Posted February 28, 2020 As it stands -12 would put us only 4 clear of Stevenage who still have to come here. This is Latics we're talking about here and with admin I'd still be very worried about falling out of the league! Link to comment Share on other sites More sharing options...
League one forever Posted February 28, 2020 Share Posted February 28, 2020 9 minutes ago, wiseowl said: Haven't caught up with all the facts here, so apologies if I misunderstand the situation. I presume the Administration application is against the "club" owned by AL. AL does not own any of the ground (just has a lease on it from "Blitz"). In that case, this is not actually that big a drama. The "club/badge" may fold in its current guise (and maybe a fire sale of our some of our "better" players), it will be bought from the Administrator, the club can be re-formed and will play again at BP. Mechanisms will be put in place to bring everything under one umbrella this time and the club/ground will be sold to a responsible owner. If things happen quickly, we'll take the points deduction this season and still survive in the league by the skin of our teeth (thanks to a dire Stevenage and the sad demise of Bury). In other words "take two" - and in between the first "sale" and the second we've endured a relegation and witnessed some of the worst football and treatment of our fans ever. Daft as it sounds, I`ve not been this optimistic for a while. This needed to come to a head and, if it results in a sweeping brush through Boundary Park (and boy does it need it), then the future will look a lot brighter. I`m just going to sit back and watch the process unfold. Hopefully be buying a season ticket under new owners in the not too distant future. It’s not daft. It’s common sense. Link to comment Share on other sites More sharing options...
dkay570 Posted February 28, 2020 Share Posted February 28, 2020 6 minutes ago, LightDN123 said: So what exactly has blitz called in to put us into admin ? Anyone update me on whats happened here The way I understand it, he has piggybacked the HMRC wup with the rent arrears and looked to appoint administrators because he doesn't believe he will be paid. Link to comment Share on other sites More sharing options...
League one forever Posted February 28, 2020 Share Posted February 28, 2020 16 minutes ago, kowenicki said: He wasn’t anyway... it’s worth a couple of million tops in the real world. Only the FLG believed it was worth more... or did they? Perhaps if it becomes a “former football ground” he will smile... knock it all down... and develop it (more than 7m). Hoops to jump through first obviously, but stranger things have happened. I’ll eat my arse if he knocks down his own 7 million pound stand for development. Link to comment Share on other sites More sharing options...
kowenicki Posted February 28, 2020 Share Posted February 28, 2020 2 minutes ago, League one forever said: I’ll eat my arse if he knocks down his own 7 million pound stand for development. I don’t expect him to either... but it’s not worth anywhere near 7m. Link to comment Share on other sites More sharing options...
wiseowl Posted February 28, 2020 Share Posted February 28, 2020 1 minute ago, League one forever said: I’ll eat my arse if he knocks down his own 7 million pound stand for development. I`m that confident it won't happen, I`ll eat it for you if it does ! Link to comment Share on other sites More sharing options...
League one forever Posted February 28, 2020 Share Posted February 28, 2020 4 minutes ago, wiseowl said: I`m that confident it won't happen, I`ll eat it for you if it does ! Link to comment Share on other sites More sharing options...
Theoutsider Posted February 28, 2020 Share Posted February 28, 2020 29 minutes ago, kowenicki said: He wasn’t anyway... it’s worth a couple of million tops in the real world. Only the FLG believed it was worth more... or did they? Perhaps if it becomes a “former football ground” he will smile... knock it all down... and develop it (more than 7m). Hoops to jump through first obviously, but stranger things have happened. On what basis is it worth a couple of million tops in your opinion? Link to comment Share on other sites More sharing options...
disjointed Posted February 28, 2020 Share Posted February 28, 2020 I hope no one has paid for a ST for next season. Link to comment Share on other sites More sharing options...
GlossopLatic Posted February 28, 2020 Share Posted February 28, 2020 Im feeling a strange sense of optimism right now its as if our problems are about to bottom out and things are about to get better. Something like this might also galvanise the fans as it becomes a straight forward fight to save a 125 years of professional football in the town and we can all pull together. Link to comment Share on other sites More sharing options...
kev1970 Posted February 28, 2020 Share Posted February 28, 2020 Thank you blitz saved us one time now stuck the dagger in so he can feather his pockets again Link to comment Share on other sites More sharing options...
Gary1906 Posted February 28, 2020 Share Posted February 28, 2020 1 hour ago, singe said: You're boy Abdallah is pushing him for the crown. Unfortunately, he used up all his goodwill, so will finding backing hard to come by. All self inflicted. 95% want him out. Abdallah isn’t my boy. I’m just a Latics fan. We will just have to see how it pans out. It’s hard to be optimistic though and I don’t think your boy Blitz comes out of this with too much credit either. Link to comment Share on other sites More sharing options...
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