They'll survive. They're not a Bury. The football league wont let it happen. They'll find some way to save them
6/7 weeks to do the legals provide funds for wages and prove sufficient funds for next season. Wouldn’t that be a bit of a push even for Ashley?
I haven't been following this that closely. Could it really be the case that they cease to exist before the start of the coming season?
Possibly, but I’m sure the EFL will bend over backwards to prevent it happening. No fans deserve this kind of ****.
He's already held extensive talks with the administrators, the league would accept him no problem and the funds wouldn't be an issue, I think he'd have no trouble getting it done if he wants to.
From what I remember there were stumbling blocks over ground ownership weren’t there? I’m not sure getting a deal over the line is as simple as just having funds.
There are numerous issues with ground ownership, and not just the cost, plus there's the £36 million plus HMRC want before adding in all the other footballing debts, and then the non-footballing debts, and a lack of players currently. He's got 5 weeks to sort it out if he feels it's worth the money and hassle to buy a club with no ground and no players though.
Ashley just sitting and waiting. He'll pick it up for nowt and make millions by the time he is finished. What a businessman.
It depends on what you feel is 'nowt' as there is a lot of money that needs to be spent before any sale price is considered.
For nowt? Like the Allams here? What came crawling out of the woodwork after they had cleared the debt to the revenue double their "in for" at a stroke. Yep, easy peasy for Ashley. Pay the taxman his 36 million. Then find players, oh yea, and a ground for them to play in. Though, I will agree he could pick it up for nowt, after they have been kicked out of the professional leagues.
Though there will obviously be a significant cost for whoever eventually takes over, there'll be no skeletons as the administrators would be liable and the tax bill won't be £36m.
Perhaps it is the no skeletons that is the sticking point? Everything has been brought into the open. Yes, the 36 million was a bit higher than the reported figures, but I don't see the taxman being magnanimous and reducing it. Unless you know they will accept a lesser amount that has been agreed?
If the club is liquidated, HMRC will get nothing, so they'll agree a settlement, it's what always happens.
Ashley would put the club through a pre-pack admin process I suspect, and acquire for a significantly reduced sum by reducing creditor liabilities. The stadium at face value is a major issue that seems to require resolving. Ashley is an astute guy, he'll only do a deal if the terms suit him which I'm sure he wasn't the administrators preferred buyer. Quantumas fees just add to the malaise.
