surely it doesnt take this long to discuss an offer for the club? (1 Viewer)

It takes as long as it takes.

what offer ?

so far there has only been an expression of interest.

The Adminstrator only got back off holiday yesterday.

If there is serious interest from someone in the club you could be looking at a couple of months before everything has been sorted and an announcement has been made that we have been taken over.

I knowe its frustrating but we need a bit of patience

He's been on holiday, but now he is back, he has vowed to put all of his efforts into finding this golden egg.

I'd be more concerned if things didn't take a while.

the clock's ticking

Don't expect anything to happen any time soon - just consider us lucky if we are out of administration before start of next season.

Godiva said:

Don't expect anything to happen any time soon - just consider us lucky if we are out of administration before start of next season.

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Also then we need realistic ideas about summer signings.

If we get new owners then there won't be many signings (excluding loans) until next January.

A fully-fit David Bell is like a new star signing.

... where's everyone going?

Godiva said:

Don't expect anything to happen any time soon - just consider us lucky if we are out of administration before start of next season.

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Pressley said tonight that it was "absolutely vital" to his plans that we are out of the embargo before then.

Isn't the saying sometimes 'no news is good news' ?

Hopefully in this case it rings true

Nonleagueherewecome said:

Pressley said tonight that it was "absolutely vital" to his plans that we are out of the embargo before then.

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Yes, I agree - it is vital for the manager that he can draft in new players before the season starts. Unfortunately there's nothing he can do to speed things up.

I too am feeling that this Administrator is stringing things out (perhaps to increase his fee?). How difficult is it to determine where the Golden Share lies together with the player registrations? We only have two companies here! It must be with one or the other. If he is unable to sort that out within a couple of days then there is something seriously wrong with the system.

Can he sell before the reports gone to court? Or as a judge has asked for this report, does everything have to wait for the judge to ok it?

ccfcway said:

He's been on holiday, but now he is back, he has vowed to put all of his efforts into finding this golden egg.

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INDIANA JONES AND THE GOLDEN SHARE
__________________________________

COMING SOON (RATED PG)
A Coventry City (Holdings) Production
Directed by SISU

Tonylinc said:

I too am feeling that this Administrator is stringing things out (perhaps to increase his fee?). How difficult is it to determine where the Golden Share lies together with the player registrations? We only have two companies here! It must be with one or the other. If he is unable to sort that out within a couple of days then there is something seriously wrong with the system.

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It's not just about the Golden Share and the player registrations.
The company in administration was at some point holding all assets and were the trading arm of the group ... that company was the club.
Now it seems it is only a non-trading company used to store the rent arrears to ACL.
So the administrator has to go through the books and see what assets were moved and when and make sure nothing illegal happened during the transfer.
It is not something the administrator does himself ... he has a few assistants to do it for him.

Nonleagueherewecome said:

Pressley said tonight that it was "absolutely vital" to his plans that we are out of the embargo before then.

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Shouldn't need any new players with all the quality that Thorn brought in at the beginning of the season, also they won't need to "gel", so will walk the league.

Durning an interview on Talksport last week which included a chat with Joe Elliott, it was mentioned that the administrator can take up to eight weeks easily and as this is not a straight forward case since the ltd,holdings saga and where exactly is the 'Golden share' lies.

Just gotta sit tight and wait.

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SISU chose to appoint this guy for a reason. This will get strung out. Also, I don't agree that we should be patient. This needs sorting. Enough of crap owners and not competing on the field.

Everyone's already got their excuses for next season's 14th place finish all lined up - and they'll all just sit, arms folded, tutting.

@richh87 said:

SISU chose to appoint this guy for a reason.

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Yes - it's about control and level of information.
If ACL had appointed the administrator, then they would have a better control and insight of his work and his findings.
Sisu have effectively cut that line and ACL are left in the dark and can only get the same information the court gets.

@richh87 said:

Also, I don't agree that we should be patient.

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Cool. What's your plan?

ajsccfc said:

Cool. What's your plan?

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Anyone got a fire proof bed sheet?

Or should we build another coffin?

Or perhaps a horses head in the administrators bed?

Nonleagueherewecome said:

Pressley said tonight that it was "absolutely vital" to his plans that we are out of the embargo before then.

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He rob ably understands that the owner have you in embargo you miss out in your first targets then they sack you whilst you are arranging the next one.

He may have seen it somewhere else

Or bury your heads in the sand.

stupot07 said:

Anyone got a fire proof bed sheet?

Or should we build another coffin?

Or perhaps a horses head in the administrators bed?

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Ah, making fun of the protestors...


...the protestors who had the foresight to see that SISU were taking the club down and towards oblivion - and gave a shit enough to do something about it.

@richh87 said:

SISU chose to appoint this guy for a reason. This will get strung out. Also, I don't agree that we should be patient. This needs sorting. Enough of crap owners and not competing on the field.

Everyone's already got their excuses for next season's 14th place finish all lined up - and they'll all just sit, arms folded, tutting.

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Sure it'd be great if somebdoy came in and bought us without really doing any due diligence, but that's what happened last time.

If, after due diligence, he does or doesn't want to buy the club then fair enough either way, but doubt if anybody serious would appreciate being railroaded into a deal without knowing the full ramifications just to make you happy.

@richh87 said:

Ah, making fun of the protestors...


...the protestors who had the foresight to see that SISU were taking the club down and towards oblivion - and gave a shit enough to do something about it.

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An awful lot of "protestors" seem to have had 20/20 hindsight when it comes Sisu, surely foresight should happen before they have fucked things up?

ryb1983ccfc said:

Really starting to get annoyed with nothing happening at the club! Come on lets start moving towards the future

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Moving toward the future is a constant unstoppable force
Whether the future is good, or bad is unknown :-/
Patient is all we can be...no amount of singing & dancing will change the process that we now find ourselves. What will be will be

lordsummerisle said:

An awful lot of "protestors" seem to have had 20/20 hindsight when it comes Sisu, surely foresight should happen before they have fecked things up?

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There's nothing wrong with realising a mistake and taking action to rectify it. Supporters don't have sufficient information to do their own due diligence, and although they can adopt a miserable distrusting stance like you, it would only be counterproductive as the mood of the whole club would drag the team further down.

@richh87 said:

Supporters don't have sufficient information to do their own due diligence

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And by the same token, surely they don't have sufficient information to be able to say we shouldn't be patient?

@richh87 said:

There's nothing wrong with realising a mistake and taking action to rectify it. Supporters don't have sufficient information to do their own due diligence, and although they can adopt a miserable distrusting stance like you, it would only be counterproductive as the mood of the whole club would drag the team further down.

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The same information about Sisu, Seppalla and Ranson(very little) was available when they took over as it is now, just most chose to think it was a good thing that we had a ruthless hedge-fund, a woman with "balls of steel", and a "football man and ruthless businessman" in charge.

More wrong with blind trust than reasonable distrust in my eyes, Uncle Joe seems to be one of the most trusting people around, but a particularly bad judge of character.

The administrator at a minimum should be able to give an update at this stage.

What he has found so far
What he needs to clarify as a result if what he has found and with whom
Timescales for the above