Hardy statement/So called new owners

[maddogslater]

The silence is deafening.
The only concrete assertion I took from Hardy blubbing away yesterday was that he wouldn't be the owner for much longer.
As to any new owners , that just sounded like a possibility, admin or winding up order sounded at least as possible.

Ardley more or less confirmed it hinting that it's a rudderless mess and he had pretty much no-one to answer to, just been left to get on with it.

Yea great supporters hey hardy ! treated like mushrooms...tell us the truth not a pathetic ramble like your embarrassing display yesterday on the radio.

[pielover]

The question missing yesterday was this:

"Is it likely Notts County FC will be put into Administration?"

When you consider the scepticism of two Slater's and the barely confident 7 - 10 day takeover timeline of AH you're left with several unanswered questions but here's one that really bothers me:

How long will the Paragon administrators allow Notts to continue to function without calling in the debt?

Maybe I have missed something but if the takeover doesn't happen soon we have to presumably set a budget for the next 12 months/season.

Surely that budget has to allow for us to be servicing the debt?

Furthermore surely servicing that debt must come before large investment into the club?

I don't understand the law regarding the debt, anyone have any answers?

[legs77]

Charlie Slater has changed his tune from last week he was telling everyman and his dog DD as he puts it was completed.

What has changed in the last week ?

Has relegation played a part but he must have heard something which suggests the takeover is in doubt.

[upthemaggies]

Charlie Slater has changed his tune from last week he was telling everyman and his dog DD as he puts it was completed.

What has changed in the last week ?

Has relegation played a part but he must have heard something which suggests the takeover is in doubt.

My guess is that Hardy convinced himself in Jan/Feb that we would stay up and the deal he wanted was based on that scenario. By April it began to dawn on both him and whoever was seeking to take over a L2 club (not a non-league one) that we probably wouldn't survive the drop and yesterday confirmed it. So we're now left with people who have less money and would prefer to come on board as directors, not out and out owners. Pure guesswork, but short of any concrete information what else can we do but speculate?

[BigFatPie]

My guess is that Hardy convinced himself in Jan/Feb that we would stay up and the deal he wanted was based on that scenario. By April it began to dawn on both him and whoever was seeking to take over a L2 club (not a non-league one) that we probably wouldn't survive the drop and yesterday confirmed it. So we're now left with people who have less money and would prefer to come on board as directors, not out and out owners. Pure guesswork, but short of any concrete information what else can we do but speculate?

The takeover being reliant on us staying up makes the most sense to me as well.

[60YearsAPie]

My guess is that Hardy convinced himself in Jan/Feb that we would stay up and the deal he wanted was based on that scenario. By April it began to dawn on both him and whoever was seeking to take over a L2 club (not a non-league one) that we probably wouldn't survive the drop and yesterday confirmed it. So we're now left with people who have less money and would prefer to come on board as directors, not out and out owners. Pure guesswork, but short of any concrete information what else can we do but speculate?

The takeover being reliant on us staying up makes the most sense to me as well.

From the little we've heard this is one possibility and if correct is worrying, as admin or even winding up then come into the equation.

[jonnyt1]

The issues are this:
We know we have to pay Hmrc 200k by the 15th May or face liquidation Not administration. That means we cease to exist. I doubt we will get another extension.
We know there is a debt to Paragon for greater than £1M. What we don't know is whether this is secured or unsecured, whether we are in default, when the capital has to be repaid or whether it can be called in at any time. These terms could be crucial.
We know another of Mr Hardys companies has £7m debt to Paragon.This looks like the vehicle used to buy the club from Ray Trew. This therefor doesn't look like a direct debt But will have an impact on Hardys ability to sell the club. If he cannot recoup this he may be personally bankrupt and lose the golf course etc. Therefore he may not be able to do anything other than watch Rome burn.

What this all means is we are in very serious trouble.

Personally I don't think there is takeover on the table. More like someone's potentially providing some capital for an equity stake as otherwise why keep a failed Chairman if he's got no skin in the game? Relegation has probably put our value below £1m if I'm being generous given the debts.

We all need to start praying.

[ForeignLegion]

Send all donations to Benny Hinn and he'll pray for everyone.

[magicianpie]

Can’t see the club existing for much longer at this moment. Think it’s probably the end.

AFC Notts County anyone?

[legs77]

Can’t see the club existing for much longer at this moment. Think it’s probably the end.

AFC Notts County anyone?

I have got this feeling as well the way Hardy was carrying on yesterday and now the takeover talk being talked down.

As for AFC Notts County thats a no from me i'll walk away.