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Administration latest news

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61Administration latest news - Page 3 Empty Re: Administration latest news on Mon Feb 24 2020, 14:26

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse
I have a friend with a similar mind set, but he drives us crazy.
He's mad on trains, but when one appears in a movie he'll pipe up 'This picture is set in 1948. That particular gauge didn't come into service until 1954'. Then he'll point out the missing insignia on a particular uniform. Meanwhile several men have been shot, and a chase is on.
But he's happy, and he won't be changing any time soon.

62Administration latest news - Page 3 Empty Re: Administration latest news on Mon Feb 24 2020, 14:52

Ten Bobsworth


Tony Kelly
Tony Kelly
[You must be registered and logged in to see this link.] wrote:I have a friend with a similar mind set, but he drives us crazy.
He's mad on trains, but when one appears in a movie he'll pipe up 'This picture is set in 1948. That particular gauge didn't come into service until 1954'. Then he'll point out the missing insignia on a particular uniform. Meanwhile several men have been shot, and a chase is on.
But he's happy, and he won't be changing any time soon.
I told you. You should watch Le Diner de Cons (with subtitles)

63Administration latest news - Page 3 Empty Re: Administration latest news on Mon Feb 24 2020, 15:00

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse
Oh God! I've just seen myself as others see me. I thought slippers were interesting.

64Administration latest news - Page 3 Empty Re: Administration latest news on Mon Mar 09 2020, 22:15

Sluffy

Sluffy
Admin
I wonder how this Coronavirus is going to effect the club financially?

Will attendance fall whilst the games are still on and what will happen if they have to be played behind closed doors, or even if the league is indefinitely suspended or terminated early?

Wages (including to staff as well as the players), suppliers and creditors all still need to be paid no matter what.

Not sure what insurance if any, RV may have to cover such things, force majeure may come in to play perhaps but I guess cash flow will probably be an ongoing concern to be dealt with?

Maybe the EFL and/or government will recompense in someway but I would imagine if they did that businesses would have to wait months/years for a settlement.

Creditors from the sale of the club to FV would still need to be paid as per the terms and timescales agreed to irrespective of whether the club is still allowed to play games in front of crowds or not.

FV did report two initial lines of credit to the tune of £40m to fund the club - so far so good BUT the terms was full repayment in three years!

It may well be such that the terms of repayment can/will be extended but one assumes that will incur financial penalties and/or additional interest charges - in other words more debt.

As I can't see how FV intends to make a profit in the first place, will coronavirus deal to us a mortal blow financially?

65Administration latest news - Page 3 Empty Re: Administration latest news on Tue Mar 10 2020, 09:12

gloswhite

gloswhite
Guðni Bergsson
Guðni Bergsson
If it does, I doubt we'll be the only ones.

66Administration latest news - Page 3 Empty Re: Administration latest news on Wed Mar 11 2020, 08:05

RangersDave

RangersDave
Mario Jardel
Mario Jardel
I think it will hurt all teams below the exhaulted shyte hole that is the Premier league.

Thinking any team that is close to the edge will probably fall, and this might lead to the complete revamp of football in this country, except the 'top' league, which rather like a Monty Python character will continue to eat at the trough without a care in the world until it explodes.

Teams such as mine might well go, unless a halt is called to the league / leagues until all this is over.

Mind you, its all boll ocks really when people are dying.

67Administration latest news - Page 3 Empty Re: Administration latest news on Tue Mar 24 2020, 19:44

Sluffy

Sluffy
Admin

68Administration latest news - Page 3 Empty Re: Administration latest news on Fri Apr 24 2020, 17:00

Sluffy

Sluffy
Admin







Fwiw I'm sure something was said about doing this in the Administrators report.

Can't be arsed digging it out now but if my memory is serving me correctly it seems to suggest Iles hasn't bothered reading it/or understood it.

I can't recall if it was deemed to be some sort of asset (ownership and title to that specific company name) so I guess there might even been a 'sale' involved (if so probably just the notional £1 charge) but I doubt very much that it's been purchased on speculation by anybody other than by FV (or with agreement with them).

In theory a third party could have bought and set up a business under that name with the intention to buy the club FROM FV - so it's not 100% nailed on that it is FV that is going to do a name change but as the company that currently 'owns' the club is actually called FVWL Football Limited, it seems more than likely it is.

EDIT - In fact just checking before I posted this Companies House as already recorded that the company has been incorporated with one share being issued which is owned by non other than FVWL Football Limited

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