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Thread: Administration

  1. #1
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    Administration

    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.

  2. #2
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    Quote Originally Posted by Woodypie View Post
    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.

  3. #3
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    Praps we're not the only ones?



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  4. #4
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    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.

  5. #5
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    Quote Originally Posted by Elite_Pie View Post
    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

  6. #6
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    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.

  7. #7
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    Because if we go into administration then we take a 12 point deduction and would most certainly hinder any chance of an immediate return to the football league. Any buyer waiting for us to go into administration clearly has no ambitions for Notts County or has no money and will use us as a play thing just like Hardy has.

  8. #8
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    Quote Originally Posted by Elite_Pie View Post
    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.

  9. #9
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    Quote Originally Posted by OP67 View Post
    Because if we go into administration then we take a 12 point deduction and would most certainly hinder any chance of an immediate return to the football league. Any buyer waiting for us to go into administration clearly has no ambitions for Notts County or has no money and will use us as a play thing just like Hardy has.
    I'd go a step further and say that a points deduction would likely see us relegated again. So unless the prospective owners want us in the National League North for nefarious reasons, admin would potentially set the club back more than one season.

  10. #10
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    Although the lack of publicly available information has everybody speculating the worst, there are little signals that suggest progress behind the scenes, such as the reprieve for Paragon Leisure when it was expected to go into liquidation, and the staff apparently still getting paid. Also, the fact that HRC willingly agreed to the most recent adjournment of the case suggests they've been given some reason to think that's still in their interests. It doesn't mean all is well by any means, but not all signals are bad.

  11. #11
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    Quote Originally Posted by Woodypie View Post
    I was just thinking, given the failure of Hardy's negotiations,
    That is not a 'given' I'm afraid.

  12. #12
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    Quote Originally Posted by Woodypie View Post
    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???

  13. #13
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    Quote Originally Posted by cher1 View Post
    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.
    I wouldn't be surprised if he still has notions of being involved in some capacity. His Paragon business is down the swanny and we all know his ego blinds him from the reality of what fans think of him. I still can't understand the performance he gave for the cameras at Swindon. Bizarre behaviour.

  14. #14
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    Quote Originally Posted by countygump View Post
    Praps we're not the only ones?



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    Nick Hawkins....?

  15. #15
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    Quote Originally Posted by SwalePie View Post
    20 million???
    The club is worth Jack ****e....

  16. #16
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    Quote Originally Posted by jackal2 View Post
    Although the lack of publicly available information has everybody speculating the worst, there are little signals that suggest progress behind the scenes, such as the reprieve for Paragon Leisure when it was expected to go into liquidation, and the staff apparently still getting paid. Also, the fact that HRC willingly agreed to the most recent adjournment of the case suggests they've been given some reason to think that's still in their interests. It doesn't mean all is well by any means, but not all signals are bad.
    Where have you seen that Paragon Leisure has been reprieved? I understand that Paragon Interiors are being taken over by Elev8 but I doubt that this impacts Notts.

  17. #17
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    Quote Originally Posted by Woodypie View Post
    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.
    A good question a lot of supporters have thought about. My thoughts are:

    Last year, value would come from the "goodwill" of the fanbase, and the revenues that result from that plus the stake NCFC had in the Football League. In addition to this, you can add some value for the control of infrastructure, principally the stadium.

    Following the club dropping out of the league, the expected revenue from the club will be reduced, not to mention the value lost from no longer being a Football League club.

    The main advantage I can see of buying the club from Mr Hardy, rather than waiting for Administration is as follows. If you really want the club, you avoid something of a lottery where the administrators choose from multiple bidders, all offering a token bid, and get full control (of the revenues, a stake in the league (Now National) as well as infrastructure.)
    Players contracts can be seen as assets or liabilities depending on how others view these players!

  18. #18
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    Quote Originally Posted by Old_pie View Post
    Where have you seen that Paragon Leisure has been reprieved? I understand that Paragon Interiors are being taken over by Elev8 but I doubt that this impacts Notts.
    Companies House records

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    Last edited by SwalePie; 22-06-2019 at 12:51 PM.

  19. #19
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    Quote Originally Posted by Old_pie View Post
    Where have you seen that Paragon Leisure has been reprieved? I understand that Paragon Interiors are being taken over by Elev8 but I doubt that this impacts Notts.
    This???

    https://www.nottinghampost.com/news/...parent-2959175

  20. #20
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    Quote Originally Posted by SwalePie View Post
    20 million???
    Probably talking in SA Rand

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