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Redevelopment Closer Than Ever?

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Author Topic: Redevelopment Closer Than Ever?  (Read 1821525 times)
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STEVIEG
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« Reply #14060 on: October 19, 2015, 09:39:39 am »

Well I can formally announce that DC was spotted yesterday in Harlestone Firs and my source is 100% genuine.

Hanging from a tree?
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Razor
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« Reply #14061 on: October 19, 2015, 09:40:55 am »

If you're planning on going into hiding it's as good a place as any...
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pattcobb
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« Reply #14062 on: October 19, 2015, 09:51:26 am »

All those fir trees would point to an acclimatisation exercise for Canada?
Actually my source (former manager of mine) said "he didn't look like he was carrying any stress and troubles at the time"
Strange really he told us all he was working night and day to find a solution. Not sure said solution would be lurking in Harlestone Firs... Cheesy
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« Reply #14063 on: October 19, 2015, 10:07:42 am »

I was there yesterday. Hope he stood in one of the massive piles of horses*** I saw.
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« Reply #14064 on: October 19, 2015, 10:28:17 am »

Well I can formally announce that DC was spotted yesterday in Harlestone Firs and my source is 100% genuine.
I heard this also, strangely he was carrying a hold all and a shovel?
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« Reply #14065 on: October 19, 2015, 10:37:44 am »

I've heard the Griggs thing doesn't carry a lot of weight, so hope people are a lot better connected to the latest. He'd certainly be the kind of person we need at the moment. I also heard (despite the Hackett convo) that staff were paid late again. Maybe the club could do a monthly 'on time in full' Tweet.  Tongue I was also told the police are keeping a very close eye on matters (I can guarantee this 100%), which goes along with the output from the council meeting.
If DC takes credit for something it is for keeping a lot of his employees engaged. He's be a fantastic politician. You only had to see him skipping through the car park, you'd think he didn't have a care in the world. He'll come out smelling of roses regardless of the end result.

Our best hope is a rescue job. I refuse to believe that we will go under. There are lot of wealthy businessmen who have a love of the Cobblers at heart. However, they didn't get wealthy by spending it on a football club!  Tongue  We may be treading water for another generation or two but we'll survive.
Not paying the tax man though has made it a lot scarier than it ever should have been.
You make  a super piont, he would make a superb politician !!
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« Reply #14066 on: October 19, 2015, 11:10:18 am »

Hanging from a tree?

Come on man, the guy has got kids and a family. Have a little moral decency.
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« Reply #14067 on: October 19, 2015, 11:22:04 am »

Well I can formally announce that DC was spotted yesterday in Harlestone Firs and my source is 100% genuine.

Did he have a shovel and roughly drawn map?
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« Reply #14068 on: October 19, 2015, 11:24:06 am »

Reminds me of that Porridge episode which ends up at Elland Road
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« Reply #14069 on: October 19, 2015, 11:37:58 am »

Interesting bit on Radio 5 this morning. A woman claims that we can affect an outcome with the power of positive or negative thought. To prove her point, she claimed if you cut an apple in half and put one half in a jar labelled 'love' and talked to it nicely it will rot much less slowly than the half you put in another jar labelled 'hate', a jar that you must abuse.


So, I want you to picture our already rotten apple in one jar.............I think you know where I'm going with this.  Grin

 Grin
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pattcobb
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« Reply #14070 on: October 19, 2015, 11:41:56 am »

Interesting bit on Radio 5 this morning. A woman claims that we can affect an outcome with the power of positive or negative thought. To prove her point, she claimed if you cut an apple in half and put one half in a jar labelled 'love' and talked to it nicely it will rot much less slowly than the half you put in another jar labelled 'hate', a jar that you must abuse.


So, I want you to picture our already rotten apple in one jar.............I think you know where I'm going with this.  Grin
Well you certainly read some rubbish on here, but that takes the biscuit does it not?
(Sorry not shooting down the messenger here!)
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« Reply #14071 on: October 19, 2015, 15:24:02 pm »

With the Buckingham statement was a takeover ever even a possibility? after reading that I'm sure nobody who put in any due diligence would buy the club. So was takeover talk just a smokescreen to buy time? from what I've read is our best hope administration (and whatever penalties that incurs) then the hope that somebody buys the club from the administrator with the Northampton public and a number of other companies ending up getting completely screwed over?
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« Reply #14072 on: October 19, 2015, 15:37:47 pm »

With the Buckingham statement was a takeover ever even a possibility? after reading that I'm sure nobody who put in any due diligence would buy the club. So was takeover talk just a smokescreen to buy time? from what I've read is our best hope administration (and whatever penalties that incurs) then the hope that somebody buys the club from the administrator with the Northampton public and a number of other companies ending up getting completely screwed over?
Basically all we need is someone to take on a failing business that is in worse shape than it was fifteen years ago and pay off very large debts not of their own making.
Unfortunately this is in no way your average football club takeover.

I still subscribe to the opinion that if the situation didn't have so much baggage the club would be an attractive proposition.
That said why would anyone buy the club and inherit a large debt that is as yet unaccounted for according to the council.
With all club takeovers there is an element of agreeing a fair price with debts factored in.
The problem with our situation is that you are possibly asking a perspective buyer to inherit over £14M of debt where no one can properly account for £10.25M of it.
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« Reply #14073 on: October 19, 2015, 18:14:20 pm »

If we go into admin, won't we 'just' be paying 10p in the pound, so the £14m debt becomes £1.4m, still a boatload of cash, but more manageable for someone coming in.
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« Reply #14074 on: October 19, 2015, 18:24:40 pm »

If we go into admin, won't we 'just' be paying 10p in the pound, so the £14m debt becomes £1.4m, still a boatload of cash, but more manageable for someone coming in.

Who says it has to be 10p? The 1st Land figure dropped from 33p to 27p in the pound IIRC, its up to the administrators to get the best deal for all concerned. That deal might be 1p, it might be £1 in the pound, who knows?!
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« Reply #14075 on: October 19, 2015, 18:30:19 pm »

I think these are the current rules on insolvency:

http://www.accountancyage.com/aa/news/2412210/football-league-toughens-insolvency-rules
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« Reply #14076 on: October 19, 2015, 19:01:40 pm »

Who says it has to be 10p? The 1st Land figure dropped from 33p to 27p in the pound IIRC, its up to the administrators to get the best deal for all concerned. That deal might be 1p, it might be £1 in the pound, who knows?!
I once received 0.7p in the pound on a £18,000 debt, enough for few pints
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« Reply #14077 on: October 19, 2015, 20:21:35 pm »

Who says it has to be 10p? The 1st Land figure dropped from 33p to 27p in the pound IIRC, its up to the administrators to get the best deal for all concerned. That deal might be 1p, it might be £1 in the pound, who knows?!

I guess this is the point I am making.  If everything is as it seems at the moment, going into Admin might be the best result.  It would practically wipe out our debts, or at least seriously reduce them, and hopefully would end up with responsible new owners.

The club and fans would be the winner in this scenario, and anyone owed money would be serious losers.  The council would be included on that list as their money would be gone, and the people I would feel most sorry for would be the smaller businesses who would lose money and potentially put their businesses at risk.  But we would still have a club....
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« Reply #14078 on: October 19, 2015, 20:25:26 pm »

I guess this is the point I am making.  If everything is as it seems at the moment, going into Admin might be the best result.  It would practically wipe out our debts, or at least seriously reduce them, and hopefully would end up with responsible new owners.

The club and fans would be the winner in this scenario, and anyone owed money would be serious losers.  The council would be included on that list as their money would be gone, and the people I would feel most sorry for would be the smaller businesses who would lose money and potentially put their businesses at risk.  But we would still have a club....

A club yes...but what future? Again, who knows?! The last time we went into administration the administrators sacked the manager and 10 players within 24 hours, forcing us to play a youth team with Phil Chard as player manager at Barnet.
Round and round in circles without getting anywhere....£12m to do something about it....our big chance....blown by the baffoon!
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« Reply #14079 on: October 19, 2015, 20:27:50 pm »

If we go into admin, won't we 'just' be paying 10p in the pound, so the £14m debt becomes £1.4m, still a boatload of cash, but more manageable for someone coming in.

It's unlikely we'll be allowed to enter administration whilst subject to a Winding Up Petition. It can happen, but I wouldn't hold out much hope.
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