Administration!

[mickd1961]

A very good friend of mine has a friend who works within the club.

Tonight he’s been told we are very close to going into administration and that it’s very likely sooner rather than later.

Apparently it’ll be a miracle if we make the end of the season before it happens.

By all accounts, things are really bad, maybe even worse than we all feared.

[BaggieBlood]

A very good friend of mine has a friend who works within the club.

Tonight he’s been told we are very close to going into administration and that it’s very likely sooner rather than later.

Apparently it’ll be a miracle if we make the end of the season before it happens.

By all accounts, things are really bad, maybe even worse than we all feared.

I discovered that a villa 8 fingered c??t called Alex Hearn is behind the £2m loan from warmfront.

Given the results this weekend, it was a brilliant weekend until then.

I have a sent you a pm.

[BaggieBlood]

I discovered that a villa 8 fingered c??t called Alex Hearn is behind the £2m loan from warmfront.

Given the results this weekend, it was a brilliant weekend until then.

I have a sent you a pm.

Your inbox is overflowing apprently so the pm is undeliverable.

[Dubbag]

https://www.bbc.com/news/business-66470170
Apparently the communists are in a far worse position then they are telling the world.
That includes Lai.
This thread title is not the least bit surprising to me. Admin awaits and any potential buyer will just be stepping back from this pile of shyte.

Pick it up afterwards for a penny.
But the football club will never be the same again.

[Dubbag]

From the same link in my post above.....

Last month, Evergrande, which was once China's biggest real estate firm, revealed that in 2021 and 2022 it lost a combined $81.1bn.

It came as the firm, which defaulted on its debts in late-2021, reported its long overdue earnings to investors.

Evergrande has been struggling with an estimated $300bn of debts.

Those arey watering numbers. They are not thousands or millions but BILLIONS of pounds. Staggering numbers by all accounts.
Economics works the same even with a massive lieing country run by communists who hate the free world.

You buy a house here and then you fill it with furniture. All increases activity in the economy.
That's why the housing numbers are important in economics.
The real worry is this.
When America fcuked up the tackled it immediately when the shyte hit. (Regardless of weather you like them or not)
The communists have no experience with a collapse of their own, so they will do what COMMUNISTS do best. Lie on an even grander scale.

[Stevil81]

Very sad times Mick, but can't say I am surprised after who we have had to deal that (doesn't) run our football club.

It really is beggars belief that new owners can waltz in with such disregard and ruin nearly 150 years of history.

[phild]

Here's the latest from A4A, it doesnt make for good reading

https://www.actionforalbion.co.uk/up...ent-situation/

[Omegstrat6]

China is certainly in trouble as deflation hits as it did in Japan in the 1990s when the asset bubble burst. Many hold that the Chinese Communist Party and state interference means that the country will never have the freedoms to enable a flourishing economy. Their version of capitalism (much like Russia) restricts wealth and power to a limited -and likely corrupt-few.

[Omegstrat6]

As for Albion, I read recently that Warmfront are willing to extend repayment of the £2m loan until February but at an interest rate of 5% a month it'll be more like £4 million by then!

As we all know, Lai has now missed 3 deadlines to pay back the loan he took out of the club to pay into his Hong Kong Wisdom Smart company and meanwhile the club still has to repay the £20 million loan to MSD UK at an annual interest rate of 13.8%.

Any potential buyers will be very aware of all this and simply bide their time and wait for the asking price for the club to fall even further. Ain't good is it 😞

[Omegstrat6]

Here's the latest from A4A, it doesnt make for good reading

https://www.actionforalbion.co.uk/up...ent-situation/

Sorry Phil-was in the middle of posting before I saw the above! You beat me to it as the link pretty much gives the same financial information as I'd seen elsewhere.