Damn, more fake sheikh news.
Out of interest, I wonder who the wealthiest Notts fan is. I can safely rule myself out of the top 100 and can confirm that I will not be tabling a bid for our fine club unless my accumulator on Burton and Barnet winning the League and FA Cups comes in.
The conference have stricter rules and budgets and taking on loans which may give us some serious budgeting issues. In short you have to get your annual budget approved by mid-June and the Conference have to approve any loans you're allowed to take on. We would need Hardy or a new owner to keep funding all the losses from the bloated squad we'd be stuck with but we'd need to find a way to get these within an approved budget!
The conference insolvency rules are stricter than the football league also. In short if you go in to administration you're deducted 10 points. If by the next AGM of the Conference you have not exited the administration then you're relegated one division. To exit administration and avoid the relegation you either have to pay all your creditors (not just the football ones) by the AGM, or you have to enter a CVA, pay all the football creditors immediately and pay all the others in instalments over a maximum of 3 years. This would be a disastrous way out of the debts we must be currently running up.
It won't be straightforward to try to spend our way out of the conference unless someone is prepared to give (not loan) enough money to cover the cost of all the players still under contract and whatever new ones we want/need all in the context of reduced income.
I’ve never had any interest in the Conference/National League rules before, as I’ve always supported an EFL team. Things change though and that’s certainly an interesting post. I hope AH includes all that in his business model for Scenario Doomsday, which he’s due to run around the end of February.
Nothing like a bit of doom and gloom and pessimism. Glad you weren't in the trenches; we'd all be speaking German.