Alan replies official statement

[marshall55]

Notts County owner and chairman Alan Hardy has responded to today’s media reports and provided an update on his attempts to sell the club.

Further to recent speculation about the financial performance of Paragon Interiors Group PLC and any impact this may have on Notts County Football Club, I want to assure supporters that the club will not be affected.

In the coming days I expect to receive a formal offer to purchase the club from an overseas consortium and more updates will follow in due course.

In the meantime, I will continue to support the club as best I can while dealing with a very difficult and stressful situation at Paragon.

Thank you for your continued support.

Alan

[LilCrazyKim]

Hmm. I won't sit comfortably until I see it.

[marshall55]

Better than nothing i suppose, now who are the potential buyers.

[jscarr]

Question is if the offer isn't made, is he really going to be in a position to prevent us from going into admin

Also is he going to just sell to anyone that offers a bid due to his situation. Going to be an interesting couple of weeks.

[Gubbie]

Nothing really matters unless we start winning games. If we go down or go into admin we will go down,if points are taken off this season. I blame pavis for selling our best players all these years of constant pooooooop

[nw6pie]

“In the coming days I expect to receive a formal offer to purchase the club from an overseas consortium and more updates will follow in due course.”

That could only sound less reassuring if AH said he was 95% certain of receiving a formal offer. He’s definitely negotiating from a position of weakness: He wasn’t wrong when he said he would be a great case study for Harvard Business School in how not to do things.

Assuming the “overseas consortium” is genuine, can anyone find any examples of a good one in football? I can only think of horror stories.

[jscarr]

“In the coming days I expect to receive a formal offer to purchase the club from an overseas consortium and more updates will follow in due course.”

That could only sound less reassuring if AH said he was 95% certain of receiving a formal offer. He’s definitely negotiating from a position of weakness: He wasn’t wrong when he said he would be a great case study for Harvard Business School in how not to do things.

Assuming the “overseas consortium” is genuine, can anyone find any examples of a good one in football? I can only think of horror stories.

Bournemouth is a good one

[nw6pie]

Bournemouth is a good one

I thought that was a rich oligarch who lives locally, not a consortium?

[jscarr]

I thought that was a rich oligarch who lives locally, not a consortium?

You might be right, I always thought it was a consortium

[countygump]

You might be right, I always thought it was a consortium

Man City and Chelsea don't do too bad with overseas owners but not consortiums, consortia???

[Scanlon's Hatrick]

Probably that Aussie consortium including that Nottingham lad who put on concerts.
Turnover of £6m isn't going to go far.

[countygump]

Probably that Aussie consortium including that Nottingham lad who put on concerts.
Turnover of £6m isn't going to go far.

Thought they had backing? A consortia behind a consortia???

[slack_pie]

Probably that Aussie consortium including that Nottingham lad who put on concerts.
Turnover of £6m isn't going to go far.

Can't see why a consortium with £6 million would be interested in a team that's bottom of the league pyramid and losing **** loads of money every month. It's a sure-fire way to lose £6 million.

Apart from someone with silly money who wants a project, I can't see why anyone would be interested.

[LEPiePie]

If you want a Millionaire to take over your club in the EFL make sure they are a Billionaire first.

[optipez]

That statement isn't worth a carrot.
No definite buyer, Paragon gone so no more money going into the club.
Thems the facts, the imminent sale is the hope. If Hardy doesn't write the money off there's no incentive for any buyers to rush, more sensible to see which division we're going to be in next season.
Possibly our worst ever season has just taken a turn for the worse.

[legs77]

Correct his statement means nothing all we need to know is are we going into administration and has a takeover been completed.

We are/have been a club run by morons who appoint friends/family into important roles not exactly the best way to run things in a logical manner.

What really annoys me is when we have a bad run the manager is sacked straight away then the worse sin of all is we sign injury prone or journeyman players and totally ignore ALL youth players which is what clubs at this level should be doing something I’ve argued for years.

As harsh as it sounds admin is probably best for the club as all what will happen is someone comes in takes over and a year down the line we are still losing £300k a month or more.....I know this option is certain relegation but we are 80% certain of that anyway.

[queenslandpie]

A nothing statement. What needs to be laid out is what happens if Paragon go to the wall. Is Alan paying the debt owed personally then? Who will be funding the day to day running of the club and for how long? If Paragon goes into admin the debt is called in and will need to be paid it’s that simple. Unless Alan pays it personally I can’t see any random stumping up 7 million quid can you? A meaningless statement without any substance from an individual out of his depth and running scared.

[SwalePie]

A meaningless statement without any substance from an individual out of his depth and running scared.

No not really. It's simply a brief but necessary statement to try and calm the fans and explain the situation while he deals with it. He can't win with some people. Say nothing he's crucified and say this and he gets the same.

I'd rather hear this than nothing and surely people don't expect him to provide chapter and verse of the entire situation while he's in the middle of it!

[queenslandpie]

No not really. It's simply a brief but necessary statement to try and calm the fans and explain the situation while he deals with it. He can't win with some people. Say nothing he's crucified and say this and he gets the same.

I'd rather hear this than nothing and surely people don't expect him to provide chapter and verse of the entire situation while he's in the middle of it!

Have to disagree Swale. Something along the lines of "if we are unable to resolve the financial situation at Paragon I will personally guarantee the ongoing financial support of Notts County until the club is sold" would be more meaningful. Its not that he can't win its more than Notts fans over several decades have been lied to and mislead by their owners. On the basis of a significant period of history I am unwilling to just believe the statement which at best is broad and vague. It would not have been harder to make it more meaningful instead he has now also given potential false hope about an acquistion. I would sooner that sort of stuff is kept quiet until the deal is done.

[SwalePie]

Have to disagree Swale. Something along the lines of "if we are unable to resolve the financial situation at Paragon I will personally guarantee the ongoing financial support of Notts County until the club is sold" would be more meaningful. Its not that he can't win its more than Notts fans over several decades have been lied to and mislead by their owners. On the basis of a significant period of history I am unwilling to just believe the statement which at best is broad and vague. It would not have been harder to make it more meaningful instead he has now also given potential false hope about an acquistion. I would sooner that sort of stuff is kept quiet until the deal is done.

I think the point might be that even AH doesn't yet know if he CAN personally guarantee anything.

[Gubbie]

And if he hadn't mentioned anything about the takeover people on here would be going on. Like swale said he can't win.

[queenslandpie]

I think the point might be that even AH doesn't yet know if he CAN personally guarantee anything.

Then how can he make a statement that Notts wont be affected!

The reality is its up in the air. Nobody knows.

[Old_pie]

Then how can he make a statement that Notts wont be affected!

The reality is its up in the air. Nobody knows.

#faith #trust #promotion, oops #norelegation oop #noadministration

Still he has had good practice at sleeping outside with the two years of supporting CEO Sleepout and it may be that he'll be outside Marks & Sparks before long.

I've just read a feature in the Grauniad on AH, written by Daniel Taylor, 27th Jan. Really reads like a comic strip. The guy just wouldn't listen.

If Paragon are gone the administrators of Paragon will come after Notts unless Paragon pay off all their debts. Of course they won't get anything out of Notts other than to drive them out of business as someone not only going to have to pay their debts off but keep ploughing in £60k/week to pay the wage bills etc.

It doesn't make sense for anyone to take over Notts at all. Bottom of the league, good candidates for relegation, overstaffed. Why would anyone want us?

And whilst I believe AH is trying is best and this must be a very trying time for him, I bet he's even busier than he was when he was the busiest man in the world, I really don't have any #faith #believe in what he says because from where I sit he's #delusional.

Let's hope I'm very wrong.

[queenslandpie]

#faith #trust #promotion, oops #norelegation oop #noadministration

Still he has had good practice at sleeping outside with the two years of supporting CEO Sleepout and it may be that he'll be outside Marks & Sparks before long.

I've just read a feature in the Grauniad on AH, written by Daniel Taylor, 27th Jan. Really reads like a comic strip. The guy just wouldn't listen.

If Paragon are gone the administrators of Paragon will come after Notts unless Paragon pay off all their debts. Of course they won't get anything out of Notts other than to drive them out of business as someone not only going to have to pay their debts off but keep ploughing in £60k/week to pay the wage bills etc.

It doesn't make sense for anyone to take over Notts at all. Bottom of the league, good candidates for relegation, overstaffed. Why would anyone want us?

And whilst I believe AH is trying is best and this must be a very trying time for him, I bet he's even busier than he was when he was the busiest man in the world, I really don't have any #faith #believe in what he says because from where I sit he's #delusional.

Let's hope I'm very wrong.

You are correct. Nobody really knows what the future holds and I have no faith in him any more. He seems to have ballsed up everything he touches lately. No pun intended. As for a consortium well I wait with baited breath for more details!

[Big Bob]

It's all the same bullsh1t we're always fed.

[queenslandpie]

It's all the same bullsh1t we're always fed.

The sheeple fan base still believe it in the main though. Mainly as a lot of them are too pig ignorant to look beneath the shiny veneer. Hope we are fine. Have no confidence we will be. Apparently that means I am damming Alan Hardy!

[Dunce]

Suppose theres not a lot us loyal supporters can do about this sorry episode. Just got to hope that when the dust has settled theres some remnants of a club that we can turn up to on a saturday afternoon. 🤞🤞

[slack_pie]

Suppose theres not a lot us loyal supporters can do about this sorry episode. Just got to hope that when the dust has settled theres some remnants of a club that we can turn up to on a saturday afternoon. ����

Yeah, we just have to sit and watch it all fall apart. Hopefully a deal will come through in the coming weeks and we'll have new owners. But at this point, I have no reason to suspect that new owners will put an end to the seemingly endless spiral of **** we have to put up with. It'll probably just be a different flavour of ****.

It's probably best if we all just focus on Saturday and getting behind the team. Lose that and we're as good as down.

[Simon the Pieman]

Old Pie is quite correct. Administrators have no feelings for history or loyalty. Particularly where debt is concerned. Whilst I have tried, like many, to see the better side of Hardy and have some sympathy he hasn't helped himself. I do wonder how he managed to build what allegedly was a successful business. Many businesses borrow but eventually they have to pay those borrowings back. Running your own business is very rewarding but a constant worry and those who haven't done so will never understand. A bit like never having played football but having opinions about the game. Great but if you haven't done it you'll never really know.
It hurts me to state it but if Notts don't go into administration I will be very surprised.

[optipez]

I don't see how we pay the staff until the end of the season. All loans and continual borrowing were to a company that is now in administration, the banks won't lend the club a penny without a guaranteed backer of last resort and Hardy just doesn't have the required liquidity to fund us.
At best the loans never get paid back because Hardy has cleverly put a wall between us and Paragon. Maybe all we have to do is make regular fixed already agreed payments. If so , as long as we don't break the contract we may keep things going. If he hasn't we're screwed. Although we haven't a hope of paying £7 million off the administrators will want anything they can get even if it liquidated us for peanuts.
Unlike Ray Trew who if necessary could fund the club, Hardy can't. I've a horrible feeling we've only got a few weeks left to save ourselves from a Darlington / Scarborough style oblivion without an immediate takeover.
Hopefully I'm talking out my arse but I'm struggling to see where the cash flow to break even until May comes from.

[Braddpie]

This is my first time on and I’ve read all the s##t you have put on for years I will say that you make good points as well so I’m not biased anyway having been a Notts supporter for 50 + years I put down a challenge to you all and your readers I will donate £1000 to a fund just see if you can get another 7999 to do the same and we might get our club out of the s**t

[Elite_Pie]

This is my first time on and I’ve read all the s##t you have put on for years I will say that you make good points as well so I’m not biased.

Out of interest, is that comment addressed to an individual or the board in general?

[forwardmagpie]

Out of interest, is that comment addressed to an individual or the board in general?

You need to ask >;)

[SwalePie]

I don't see how we pay the staff until the end of the season. All loans and continual borrowing were to a company that is now in administration, the banks won't lend the club a penny without a guaranteed backer of last resort and Hardy just doesn't have the required liquidity to fund us.


Has Paragon been put into administration now? Haven't seen that anywhere else yet?

[countygump]

Has Paragon been put into administration now? Haven't seen that anywhere else yet?


Not yet, but I fear it won't be too long. Apparently, Al was desperate to save his 'baby' but it looks like that won't be possible now. Will we be affected? Alan insists we won't but who knows?

[SwalePie]

Not yet, but I fear it won't be too long. Apparently, Al was desperate to save his 'baby' but it looks like that won't be possible now. Will we be affected? Alan insists we won't but who knows?

Agreed, the poster I quoted mentioned that the company was now in administration, hence my query to him/her.

[Old_pie]

Agreed, the poster I quoted mentioned that the company was now in administration, hence my query to him/her.

Just found this:

https://www.insidermedia.com/insider/midlands/paragon-owner-predicts-turnover-rise

"The business, which counts Jaguar Land Rover, Adidas and 02 among its clients, made the prediction in newly filed accounts for the 15 months to 30 June 2017, during which it turned over £62m."

"Nottingham-headquartered Paragon Interiors Group, which is led by the owner of Notts County FC, has predicted turnover will top £75m at the end of its current financial year."

Is this like Championship in 5yrs predictions? Something is not adding up.

[optipez]

Has Paragon been put into administration now? Haven't seen that anywhere else yet?

Yesterday I had an email from business recovery and insolvency experts Smith & Cooper offering for sale a Midlands based interior design company with a turnover of £50 million and orders of around £11 million as a going concern.
However they're wanting sealed bid offers by March 1st. That isn't long to get a bid together to buy any business.
Paragon weren't named but what are the odds of a similar size Midlands based company doing the same thing coming up for a very quick sale on the same day numerous sources are saying Paragon is in trouble.
As I said I could be talking out my arse, I hope I am and that all is well but that looks like a fire sale to me. The act of sending me an email, ( I am not in any way able or in the market for buying any business) seems hopeful if I'm being charitable.

[apieandpint]

Just found this:

https://www.insidermedia.com/insider/midlands/paragon-owner-predicts-turnover-rise

"The business, which counts Jaguar Land Rover, Adidas and 02 among its clients, made the prediction in newly filed accounts for the 15 months to 30 June 2017, during which it turned over £62m."

"Nottingham-headquartered Paragon Interiors Group, which is led by the owner of Notts County FC, has predicted turnover will top £75m at the end of its current financial year."

Is this like Championship in 5yrs predictions? Something is not adding up.

Of the £62m turnover in 2017, they posted an overall loss didn't they? I read somewhere is was just over -250k.

If they've predicted £75m turnover this year, how much will be profit, considering the loss the previous year?

[LaxtonLad]

"Nottingham-headquartered Paragon Interiors Group, which is led by the owner of Notts County FC, has predicted turnover will top £75m at the end of its current financial year."

Is this like Championship in 5yrs predictions? Something is not adding up.
I think you're reading something that hasn't been written, Old_pie. Paragon's prediction isn't some wild guess for it's future financial situation, it must be based on facts, whereas Alan Hardy's five-year plan was not a fact but a hope he shared with the fans, little dreaming it would be held against him a year and a half later. Too late has AH realised not everyone on facebook is his friend.

[Elite_Pie]

You need to ask >;)

Yes. If you know the answer, please enlighten me.

[forwardmagpie]

Yes. If you know the answer, please enlighten me.


I felt “the sh!t you have put on here for years” was a dead giveaway

[Elite_Pie]

I felt “the sh!t you have put on here for years” was a dead giveaway

So was aimed at one poster or all of us?

[forwardmagpie]

So was aimed at one poster or all of us?

New member one post - I think all of us springs to mind.

[Elite_Pie]

New member one post - I think all of us springs to mind.

It could just be my suspicious mind, but "new member one post" means "banned member coming back" more often than not! You are probably right on this one, so I'll give him the benefit of the doubt. You have to admit his post is a ludicrous one however, asking 7,999 of us to donate £1,000 to a non-existent fund and he'll match it is a pretty safe bet.

[forwardmagpie]

It could just be my suspicious mind, but "new member one post" means "banned member coming back" more often than not! You are probably right on this one, so I'll give him the benefit of the doubt. You have to admit his post is a ludicrous one however, asking 7,999 of us to donate £1,000 to a non-existent fund and he'll match it is a pretty safe bet.

I’m in !!
7998 to go

[Braddpie]

I’m in !!
7998 to go

Thanks for that hope we get another 7988 anyway to answer your question about me I have never posted before didn’t feel the need but this old club of ours needs saving and as far as I can see it’s up to us I love this club and my grandchildren and my children have all been to the match with me I could not careless about your baiting and slagging off each other just grow some balls aka Roy Keane well done lampard and think about what the f##k you going to do on a Saturday afternoon there’s no way I’m going over Trent bridge COYP

[LaxtonLad]

Thanks for that hope we get another 7988 anyway to answer your question about me I have never posted before didn’t feel the need but this old club of ours needs saving and as far as I can see it’s up to us I love this club and my grandchildren and my children have all been to the match with me I could not careless about your baiting and slagging off each other just grow some balls aka Roy Keane well done lampard and think about what the f##k you going to do on a Saturday afternoon there’s no way I’m going over Trent bridge COYP

All in one breath!

[Elite_Pie]

Thanks for that hope we get another 7988 anyway to answer your question about me I have never posted before didn’t feel the need but this old club of ours needs saving and as far as I can see it’s up to us

Noble sentiment, but if you really think you will raise £8 million through this messageboard you should seek medical help urgently.

Your maths are a bit off anyway, you actually need another 7998.

[SwalePie]

Noble sentiment, but if you really think you will raise £8 million through this messageboard you should seek medical help urgently.

Your maths are a bit off anyway, you actually need another 7998.

Maybe if we raise the first few grand and stick it on Leicester to win the Prem again under Rodgers next season. Well first we need to know there will BE a next season of course...

[apieandpint]

Thanks for that hope we get another 7988 anyway to answer your question about me I have never posted before didn’t feel the need but this old club of ours needs saving and as far as I can see it’s up to us I love this club and my grandchildren and my children have all been to the match with me I could not careless about your baiting and slagging off each other just grow some balls aka Roy Keane well done lampard and think about what the f##k you going to do on a Saturday afternoon there’s no way I’m going over Trent bridge COYP

So, when Munto very nearly destroyed the club and Ray Trew very nearly followed that up with admin, you didn't feel the need to voice any concerns then?

[Trickytreesreds]

I’m in !!
7998 to go

I think it's a rip off. RT got the club for a quid. :O

[OP67]

I think it's a rip off. RT got the club for a quid. :O

Which is probably about what it's worth now.

Who in their right mind would spend more than a quid on a club that's pretty much bankrupted both it's previous owner and the current one. Sitting bottom of the football league stairing non league football for the first time in it's history so therefore losing one of it's main selling points and losing money every week???

In my 40 years supporting this club I've never felt so worried for it's future :(

[Trickytreesreds]

Which is probably about what it's worth now.

Who in their right mind would spend more than a quid on a club that's pretty much bankrupted both it's previous owner and the current one. Sitting bottom of the football league stairing non league football for the first time in it's history so therefore losing one of it's main selling points and losing money every week???

In my 40 years supporting this club I've never felt so worried for it's future :(

To be fair OP, jokes apart.
It is awful and tragic to have arrived at this.

[cocopops61]

I've supported Notts for 40 years and find it hard to remember more dire times than we are in now,even the "Great Escapes" wasn't as bad as now,it seems we've been in the bottom two for so long,have Notts been out of the drop zone this season?