So it’s up before the judge today.
Imagine for a minute your are the judge wearing your best glad rags and your favourite Saturday night wig.
The taxman wants you to force an overdue payment by winding up the business and appointing an administrator to raise the funds required to pay him. The books show a debt with in and out's you make it over 200m is required along with a cunning plan for the club to be able to trade and pay all debts up to or beyond a 3 months extension the football club is asking for.
Weighing it up there is no evidence of a deal being done with Everton you read about in the morning press which may tide the club over for a week or two the larger part of the debt is still on the books along with many other debts and projected running costs over the period of an extension in fact there is no evidence or guarantee of substantial funds being able to be raised or recovered by sales of assets.
It is your job as judge to apply the law and pass a judgement which is in the best interest of all and of course first and foremost granting the tax man his wish to be paid as you instruct.
What would your judgement be ?
A - Grant and extension of three months and set a return date to review the situation.
B - Order an administrator be appointed to manage the affairs to settle with the long list of creditors.
C - Order B and state you would pass it forward for review as you believe you should be able to order immediate liquidation and banning of directors from holding posts in the future in cases such as this where the company before you is in so much of a mess and debt it would be in the best interest of all concerned.
I vote C the income doesn't justify the current debt and costs only a miracle or undeclared suspicious practices could possibly explain why the club has not been here earlier I don't believe in miracles I watched Fools & Horses with a leaking church roof.
I appoint an administrator it will not be clever Trevor he was just not clever enough or he would not be asking me for an reprieve for I have seen him before me in the past when he worked for a big company I sympathise with a sneaky grin as he is trying to go it alone.
Judgement Day
posted on 18/1/16
Its called bad planning. It was still spend daft money and daft wages for the first two seasons after relegation. Should have started the cutbacks straight away. Kevin davies and zat knight were retained but should have gone. No way should big fees/wages be spent on mills, andrews, beckford or contract extensions for mavies or wheater. If things had been handled properly back then we would not be in this situation now.
posted on 19/1/16
Having said that the 900k is only slightly above Toure'e monthly wage at the ethiad, bit silly really, breaking business model for sure.....
posted on 19/1/16
Back to the trading floor today no slacking like yesterday. It's sell sell sell everything must go pull your fingers out.
Oh if you are really good you might get to see a football match tonight it's the FA cup that great traditional event when everybody cheers on the little clubs except us that is as we by a miracle are still in it. Just think in a couple of years time we will likely be the underdogs at this stage if we get this far again this century.
posted on 19/1/16
According to the chap that was in court the judge made a comment that he's seen a flood of football clubs.
We're not the first in this position and we most certainly won't be the last.
The sooner football cottons on to a realistic business model and stops saying they're all different because they are football the better.
posted on 19/1/16
There is a lot bad with English football at the moment. Too much money for the Premier League and not enough filtering down. The fair play rules, players being paid too much, too many foreign players. Oh I could go on but what's the point.
Nobody wants to sort it out so things will go as they are................... Unless we aren't around to be part of it.
Never mind, I'm looking forward to tonight's game. A win would be great but I'm taking nothing for granted.
posted on 19/1/16
Its called bad planning. It was still spend daft money and daft wages for the first two seasons after relegation. Should have started the cutbacks straight away. Kevin davies and zat knight were retained but should have gone. No way should big fees/wages be spent on mills, andrews, beckford or contract extensions for mavies or wheater. If things had been handled properly back then we would not be in this situation now
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i agree with that, but its a little easy to say in hindsight.
We wouldn't be talking about it if went back up in the first season
posted on 19/1/16
There is a lot bad with English football at the moment. Too much money for the Premier League and not enough filtering down. The fair play rules, players being paid too much, too many foreign players. Oh I could go on but what's the point.
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i think this carries more weight than most people give it credit for. The FFP is a joke, all it does is secure the top guys place in the top. Thye have an accumulated income stream gathered from years of success. Which now, nobody is essentially allowed to invest to catch up
posted on 19/1/16
Its not hindsight. We knew at the time. If you check back a lot that was prophesied mainly by nuns as he keeps reminding me has come to pass. Look another one tonight. All the upper tiers shut. Forcast 4 or 5 years ago but wss laughed at the time.
posted on 20/1/16
What i mean benny is.....there must of been a decision process. Do we...cutback now.....or leave this squad together and push for promotion. I think that all depends on your attitude to risk. If the academy had delivered more, id of gone down the cutback route.
posted on 20/1/16
It's such a pity that any of the young players that have come through the Academy will be sold for peanuts if an offer comes in and the player/s involved get the right club.