Administration

[Woodypie]

I was just thinking, given the failure of Hardy's negotiations, why would a consortium of folk that successfully manage their money pay Hardy anything when they could get it for nowt in a few weeks time? We have half a team who are meeting on Monday to train at non-existent training facilities. A manager that can't manage. Maybe a savvy investor might decide that next season is already written off promotion-wise but they could live with the points deduction and take their time to rebuild the club and avoid relegation this season. And save themselves from paying a shed load of cash to a foolish, egotistical failure.

[Elite_Pie]

I was just thinking, given the failure of Hardy's negotiations, why would a consortium of folk that successfully manage their money pay Hardy anything when they could get it for nowt in a few weeks time?

This is just a guess, but hopefully because if they agree a deal with Hardy the club will be theirs. If they wait for administration any number of vultures will be circling, so they might not become the preferred bidder.

[cher1]

Exactly Elite. Waiting for admin would be a big gamble as the administrator would decide who to sell the club to taking into account the creditors' best interests.

It may be a positive sign that we aren't already in admin. If you think it through, that would have been the most straightforward option for Hardy, to walk away from the club and the debts. Presumably that makes it more likely there are still be some prospective purchasers around, who are considering paying him something for the club. Otherwise we would already be in admin and he would have been able to wash his hands of us.

[Woodypie]

Presumably they have the funds to convince an administrator that they are the best option? Personally, I would take that risk rather than waste 20 million getting rid of Hardy and his debts.

[SwalePie]

Presumably they have the funds to convince an administrator that they are the best option? Personally, I would take that risk rather than waste 20 million getting rid of Hardy and his debts.

20 million???

[McCullochisGod]

20 million???

The club is worth Jack ****e....

[BanjoPie]

20 million???

Probably talking in SA Rand

[seriouspie]

This is just a guess, but hopefully because if they agree a deal with Hardy the club will be theirs. If they wait for administration any number of vultures will be circling, so they might not become the preferred bidder.

Sounds a reasonable appraisal to me

[Bohinen]

This is just a guess, but hopefully because if they agree a deal with Hardy the club will be theirs. If they wait for administration any number of vultures will be circling, so they might not become the preferred bidder.

If the main criterion for the preferred bidder is getting the best deal for the creditors, presumably anyone pepared to pay the debts in full would get the club. As I understand it, the main debts are relatively small sums to HMRC and Wycombe, which have to be paid in full anyway, and the fixed term loan of about 1.4m to Paragon interiors. There is no loan to pay back to Paragon Leisure (owned by Hardy) as far as I am aware, they simply hold shares in the club which would be valueless once we go into admin. The money for those shares (is he asking 6m?) is what the prospective buyer would save.

[countygump]

Praps we're not the only ones?