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Illegal? For someone who bleated on earlier about 'absolute proof' that is quite a bold statement. Institutions that without which our club would have ceased to exist? What are you on? The only reason the club are here is because this hedge fund you so despise saw fit to protect their...

Take their pants down how? By paying them above market rates? At 150K per year net that still represented a good deal to ACL. Like I said in another thread, Doncaster council gave their local football club their stadium. Ours get insulted by a rent offer of 400K and try to then force the...

Perhaps. But let's just say they did do it, like you originally thought. So, SISU come in and buy us when we are on the brink, they pump in millions over the years that follow, up to 45m give or take, then go ahead and WRITE IT ALL OFF. That was your understanding, and yet you still think of...

Proceeds from any such sales would go to the creditors, of which SISU is by far the biggest.

He just explained it. The line that said "so if it was your business you would continued paying the pre agreed rent even if it meant your business ultimately fails?" said it all. The club couldn't afford it. The deal wasn't right. The club's 'demands' would have ultimately meant a net...

Politicians love people like you. You'll buy any old line. ACL who for months have been jumping up and down like children saying "we want our money" over and over, have suddenly now made a move to protect the club from going bust? All out of the goodness of their little hearts. Absolute shit.

No, it is spin of the worst kind.

Err, agree to the terms? At 400K per year offered (not disputed by ACL BTW) in return for income amounting to 250K, we'd still be paying 150K per year which is still above market rates for a 3rd division club. It utterly amazes me how some people don't think that was a reasonable and fair offer.

No, that was a commitment going forward as I understand it, it is highly unlikely with things as they are that they actually went ahead and did it. If they did, then perhaps they really are as stupid as some say.

You know as well as I do that the people that lose most from liquidation are SISU themselves, and any threat to do that was made out of desperation as they had been backed into a corner by the legal proceedings instigated by ACL. ACL could have taken a different course, but they chose not to...

We deserve for our local elected representatives to force our club out of business? Lucky us! Forgive me, I wasn't thinking straight...

Oh dear what? Which part of that is not factually correct?

No they don't.

That is the same hedge fund that has kept the club in business for years? The bastards.

You wouldn't, but you'd still need a lot of money to pay off SISU. Any administrator would be independent and would be duty bound to ensure a good deal for SISU as the largest creditor. No way they'd get all their money back, but they would get a serious chunk of it.

I don't think for one minute he knew what ACL were planning. An inkling things would get messy perhaps, but no more than that. Perhaps I'm wrong.

Up in Doncaster, the local council hand over their entire stadium to the club for nothing. Meanwhile, in Coventry the local authority tries to put its football club out of business for the sake of £1.3 million, and the locals rejoice. Me no understando :confused:

I still don't know how this will pan out. If we go into admin, and insolvency practitioner will be appointed, who will then make an offer/proposal to creditors? Our biggest creditor by a mile is SISU, so what sort of an offer might be made to them, and what is the likelihood of them accepting...

I am not sure what relevance this is? A nice way of scoring points against SISU but of no relevance to the here and now. We are where we are. People who talk about SISU and business acumen seem to forget that they continue to be able to access significant amounts of money to keep the club...

Whatever your position on this matter, I fail to understand the glee with which some people have greeted this news. Administration doesn't mean no liquidation, in fact liquidation will be inevitable if they cannot find a buyer to take the club on. Maybe they have someone lined up, in which...