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Apparently he made his money Doug-king and Diving. TOP THAT.

It’s hard to actually know when there’s a group structure. Often lots of internal charges and movements mean / tax / profit / loss for one component is hard to identify

It’s all a bit wrong. Rant over.

Trying to get secured creditors to accept less than their held value has such an echo. SISU wanted to get (Co-op?) bank to accept less than owed. This is at a time when banks are being bailed out. Who ends up on the hook? Now the same is happening to this US bank. Bondholders will end up on...

The timing, the silence from SISU, MR & Fadz both talking up the squad value and need to unite stadium and team, awkwardness of the Council and “turning down” of bailouts by Richardson, hints from Wasps kitman, all fits the narrative you ascribe. Still feels dirty - a pre planned stitch-up of...

Yep. Posted that on here yesterday myself

All feels a bit dirty. Anyone think we could have MA owning the Arena with Richardson, Richardson controlling Wasps2 at the Arena, SISU getting bought out and MA owning CCFC and it all being planned months ago? Bondholders stiffed Small unsecured creditors stiffed HMRC stiffed and us...

That equates to about £30m for 100% of stadium and other bits and bobs valued at £50m plus? Ingnoring the BS dilapidations figure, is that too high?

If the exclusivity expires and a hugely better offer comes on the table, Richardson would be in a pickle if it was turned down and he himself ended up in a better position (if the business then goes pop) HMRC wouldn’t like that.

Is Richardon / Wasp Group somehow the biggest creditor?

Legal fees “to ensure best outcome for creditors”

But with the notice to appoint being spent is there a way of another party appointing an alternative administrator?

Yes, my thoughts all along were that the lease was secure in the same way that a bank / mortgage / debenture / commercial premises works. The trustee (bank) has preference and the proceeds go there and on to the bondholders. Some on here suggested that somehow that is beIng circumnavigated.

Having thought about this it strikes me that the best thing that the Bondholders can do is try to enforce that the Trustee holds out for liquidation. The trustee has a fiduciary duty to the Bondholders. However, the Trustee seems to be some kind of US Bank and there are complex looking rules wrt...

I remember when we signed him thinking “this guy was wanted by Liverpool” https://www.tribalfootball.com/articles/liverpool-planning-bid-preston-prospect-barton-1360731 £5m. Unbelievable

Love it.

It’s different levels. Ashley has probably had a white shoe firm strategising and preparing. Dawkins a “day late and a dollar shy”. Not sure he’s assembled the right team to get in at the big table. SISU still quiet. They are either playing very smart, have been caught flat footed or haven’t...

Whilst ever they are tenants and paying on time they would under normal circumstances have certain protections. I think that they’ve done the right thing in sitting tight.

The administrator can only work with funds that ACL has. MA cannot control ACL until or if sometime he buys it. For now, ACL has to plough furrows on its own and the exclusivity fee would be partly used to go down these legal routes. It would be legally improper for MA to be paying ACL Legal...

They could factor it and cash it out probably, credit insurance and finance cost might be a bit but in any case, the workings of football finance would find a path (although that’s not the big picture). It’s about saying: “we’ve got a squad worth (CBA to argue) £45m now, so pay us on the basis...