Someone better tell Steven Gerrard. Third Lanark, they were wound up and no longer exist as far as I can see. 1960s.
I'm taking perfect sense, tell me then, what would happen to us if we owed let's say a huge amount to the HMRC or a bank and we have no assets to sell or for them to seize? ..... We would be wound up. Just as when the Allams took us over and everyone was saying if they hadn't did what they did, it wasn't admin that was days away it was a winding up order
Clubs subject to winding up orders are rapidly resurrected. I think that’s the point Obi might be making.
That was the gospel according to Pearson and it is complete and utter nonsense. the club would have gone into admin and sold to the highest bidder based on a percentage of the debt.
Pompey went through many court cases over the financial situation but remained a football club all the way through and still are. I think the supporters trust backed by a property company bought the controlling interest eventually. Mr Comedy Gold (TOM) would be able to tell you more if you really are interested. If i remember rightly he has previously shown a deep understanding and knowledge of what actually went on there.
Wasn't it Pearson who said administration was not an option, there was nothing to administer? The liabilities on the players exceeded their value. From other threads on this, at the time there were other interested parties. Papa leaping in blindsided them all. In the belief the freehold would be his. Get in, get freehold, get out. Oooooops and here we are today.
Scarborough were wound up. So were Rushden and Diamonds and Halifax Town went under a few years back. Aldershot went into liquidation fairly recently, so did Chester City, Darlington, Hereford and Maidstone. There have been a few, although the ones near the top of the pyramid tend to be bought out before they have a chance to fold.
Genuine assumption that the Council would let him have it I believe he probably suggested it in a meeting and when no one immediately said he couldn’t have it, he assumed he could He doesn’t understand politicians
We'd have gone into administration like a number of other English Football clubs, including Hull City. Rangers first went into administration. The assets and business were then sold and the new owners applied for membership of the Scottish Premier League. This was refused and the owners applied for membership of the Scottish Football League which was granted but they had to start in the 3rd division. Once that had been done the old company was wound up.
Clubs which are wound up cease to exist. They lose their place in the English Football League and have to start from the bottom of the pyramid. Clubs that go into administration can sell their place in the English Football League, subject to the rules of The EFL and Premier League, and continue as a football club. If Hull City had been wound up under Bartlett it would have ceased to exist and the remaining parachute payments would have reverted back to the Premier League not the secured creditors. That is why we would have gone into administration and sold whatever the Allams or Pearson said at the time.
Was it A) He was conned by the sellers agent. B) He was a victim of his own pig headed arrogance (the massive cxxt him) and just assumed. C He took a calculated business gamble based on his ability to con the tiger nation as to his altruistic intent, he may have been hoping the Hull Tigers pitchfork army would storm the guildhall and demand the keys to the KC be handed over to our glorious leader and saviour. The truth is nobody actually knows and the few that do are unlikely to say owt.
