Admin looming

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Originally Posted by Andy_Faber

rA (who needs convincing on this) and the rest of the board (who I don't think do), this IS Rattea, my mod account allows me to tell.

Make your own judgements on Swale's general state of paranoia on this and all subjects

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It's quite funny Andy as I love the denial.

Just ask Kent, Admira, Chris, Ramondo, Ady, Angry and a few others shoukd they wander along if its me or not. Timenand technology has moved on but alot of the old guard still carry on elsewhere 🤣 much nicer as we do the killer of discussion that sadly blights here in the form of faildale!

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Originally Posted by swaledale

There were clues if you bothered to read them back when this account first surfaced, that it wasn't Rat and more to the point whilst the poster desperately try's to post as if its rat, it clearly isn't. As to why someone would be bothered, well you'd have to ask that person why.

Not paranoia on my part, couldn't give a flying **** what the **** rat had to say and you give his views too much credence, the main gripe was not with the American owners, they had a plan and plainly stuck to it, they weren't flashing the cash, but with Clough who was a very average manager, whose teams were so boring to watch it turned the fan base off and whose post match comments were so banal it sent one to sleep.

This great Clough who Rats did laud, what has he achieved since leaving Derby? **** all, a half decent spell with the Blades that ended with him getting sacked, then of course a top championship club snapped him up... not, so anyone foolish enough to say we were doing well under him and would ahve progressed is talking out of their arse.

As for Mel Morris, seems to me he is still supposedly worth £500 million but now a once proud football club is going into administration, its financial affairs are a tangled web and many creditors who can ill afford to lose money will do so.

This has not been down to the pandemic, its been down to financial mismanagement which the pandemic has exacerbated.

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I'll ask one of the others to come along and just put you right, as you are always wrong anyway, so we can all laugh at you as a collective ..... comedy gold 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

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Originally Posted by ramAnag

Rats...I was thinking about you when all this kicked off last night - and that’s never happened before!
Have to say...thinking back about six years or so ago you, and the much missed Ella I think, did make the same point.
You were right, I was wrong...not about Clough...he was long gone before MM took over and has had very limited success anywhere else since...but your forecast about MM was sadly all too accurate.

P.S. As mac and GP say...this has got nothing to do with Covid...every club in the country has been impacted by Covid...every club in the country isn’t in the same mess as us.

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It has always been a no brainer really. Fans make the worst owners. They take emotional based decisions and then chase the gamble after and it becomes ever decreasing circles.

Thing is was right about Rush also! Ego led to bad decisions.

If you think back 2 owners have sacked people and go to tribunal also. Pickering and Morris and look what's happened in the end to both tenures.

We were doing great and building bit by bit to get back. Then all this was only ever going to end in one way sadly.

I know Ramondo who said about the same disliked all this. Bit he's (hopefuy wander along) seeing the embers of what we used to have.

I've got a nearly 4 year old that I hope will see and witness the club grow back to what it was much as I did from a child.

It's very unlikely the club will be liquidations and not withstand that being the case I think in reality administration away from mismanagement is a good thing now!

It is the real Rat, Swale is wrong as usual. Our club is a mess, I remember criticizing MM years ago only to be told he is a clever businessman. Well, he's managed to **** up a stable club beyond recognition.

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Originally Posted by swaledale

As for Mel Morris, seems to me he is still supposedly worth £500 million but now a once proud football club is going into administration, its financial affairs are a tangled web and many creditors who can ill afford to lose money will do so.

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He has, apparently, sunk something close to £250M into the club. Two things on this. 1) is this the extent of his liquid assets and the rest is tied up in things that can't easily be turned into cash? 2) there is the story that he's ploughed in the max he promised his family he would

Being an old cynic I do wonder if this threat of Admin has been done to try and force a quick and cheaper sale through to the party that backed out a couple of days ago?

Who gives a Rat's Tea if it's Rattea or not. Whoever is writing the posts is writing reasonable ones. To me that's the important thing, the content.

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Originally Posted by MadAmster

He has, apparently, sunk something close to £250M into the club. Two things on this. 1) is this the extent of his liquid assets and the rest is tied up in things that can't easily be turned into cash? 2) there is the story that he's ploughed in the max he promised his family he would

Being an old cynic I do wonder if this threat of Admin has been done to try and force a quick and cheaper sale through to the party that backed out a couple of days ago?

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Both very fair points MA - after all we haven't actually gone into admin yet. Also could be an attempt to pressure EFL, but I'm not sure that will work if one believes the conspiracy theories that they are out to get us.

Will be interesting to see if we actually go for administration and / or a creditor twitches and converts it into a creditor liquidation.

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Originally Posted by Geoff Parkstone

Both very fair points MA - after all we haven't actually gone into admin yet. Also could be an attempt to pressure EFL, but I'm not sure that will work if one believes the conspiracy theories that they are out to get us.

Will be interesting to see if we actually go for administration and / or a creditor twitches and converts it into a creditor liquidation.

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In non-accountant speak, seriously, what does that last sentence mean? Is that good or bad?

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Originally Posted by ramAnag

In non-accountant speak, seriously, what does that last sentence mean? Is that good or bad?

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Creditor liquidation is, I believe, where a creditor takes you to court and forces liquidation, so, if I'm right, BAD!!!

Not good RA. To go into administration effectively takes control from the board and involves continuing to run the enterprise with a view of "putting clearing the debt first". It involves consent from the major creditors who can still petition for liquidation unless they agree to the administration process. If they don't, then their option is to press the ctrl alt del function