Do you still think it was a great solution? (1 Viewer)

Covstu · Apr 29, 2013

A few weeks ago, there was alot of people wanting administration which has now enivitably happened. Today it looks like we will be releasing players to try and balance the books which (and lets see who leaves) is only going to put us deeper in the mire.

SO are these fans all happy now they got their wish????:thinking about:

torchomatic · Apr 29, 2013

Administration was never a good idea.

shy_tall_knight · Apr 29, 2013

This is a SISU style administration - all the downsides -10 points uncertainty but without the upside that SISU are going.

SkyBlueBlood · Apr 29, 2013

Administration was a terrible idea, but not as bad as seeing SISU continue at the helm.

Now going into Admin AND keeping SISU at the helm.............. that would be even worse!

Sub · Apr 29, 2013

i think it was a matter of working out which was the least shittest from the choices we had, time will tell if it is the right way to go but for me SISU have to go they will not bring stability or promotion to the club, but it also needs ACL and the council to play a big part in the whole situation aswell and not screw the club over on the rent etc etc

kg82 · Apr 29, 2013

Don't we let our best players go every season though?

mattylad · Apr 29, 2013

I did my best to try and get people to understand just how catastrophic it was going to be but sadly too many believed the hype that a multi millionaire was just going to ride in to town and everything would be ok...I take no pleasure that I am now being proved right

mattylad · Apr 29, 2013

SkyBlueBlood said:
Administration was a terrible idea, but not as bad as seeing SISU continue at the helm.

Now going into Admin AND keeping SISU at the helm.............. that would be even worse!

Yet that is the scenario we are now facing. Not to mention playing our games in another city for the next god knows how many seasons.

Nonleagueherewecome · Apr 29, 2013

mattylad said:
I did my best to try and get people to understand just how catastrophic it was going to be but sadly too many believed the hype that a multi millionaire was just going to ride in to town and everything would be ok...I take no pleasure that I am now being proved right

I don't think any of us thought that, just that continuing under SISU is such an unbearable notion that it would be worth a lot of pain to get rid of them.

TrueSkyBlueLiam · Apr 29, 2013

If it gets these C-units out then yes. We lose our best players every summer so this will make no differance. Plus, if SISU go and Haskell comes he, we can get better players who actually want to play for the club, after sorting out the mess SISU left

fernandopartridge · Apr 29, 2013

SkyBlueBlood said:
Now going into Admin AND keeping SISU at the helm.............. that would be even worse!

Why are you speaking in the past tense? It COULD easily still happen.

torchomatic · Apr 29, 2013

ACL were going to do it so SISU decided to beat them to the punch and do it themselves. Neither side is particularly bothered about us, I don't think. It would have been a mess either way. Really wouldn't surprise me if we end up doing what BG had to 30 years ago in '83.

dongonzalos · Apr 29, 2013

Covstu said:
A few weeks ago, there was alot of people wanting administration which has now enivitably happened. Today it looks like we will be releasing players to try and balance the books which (and lets see who leaves) is only going to put us deeper in the mire.

SO are these fans all happy now they got their wish????:thinking about:

Pretty sure we would be releasing players anyway.

SP said the squad is too big he wants about 24 not 34

The FFP rules and because we did not get promoted so I don't think the administration factor makes a difference.

What it has done is show us that a multimillionaire is interested in buying the club and half of ACL.

psgm1 · Apr 29, 2013

Surely if the club had £60million in debt, and after administration it won't, then surely that has to be a positive? The real problem was servicing the debt repayments, which clearly have dwarfed the rent issue. Therefore surely that in itself will make the profit ratio better. It also opens the door to a n other consortium making a bid, whereas you would have to be on the planet crazy to make a bid and take on £60 million of debt for a league 1 club!

It will drag out, but ANYTHING involving sisu does (it is their modus operandi). Its painful, its protracted, but ultimately it WAS necessary. Hindsight is always great, but reaally they should have bit the bullet before sisu took over. But they didn't and we are where we are.

It's like divorce, messy and painful, but ultimately its the right thing to do if the marriage has broken down - which it nmost certainly has in this case!

sky blue john · Apr 29, 2013

only time will tell !!

chiefdave · Apr 29, 2013

psgm1 said:
Surely if the club had £60million in debt, and after administration it won't, then surely that has to be a positive?

admin doesn't have to mean you lose all the debt and start again with new owners. Lets say SISU, or a SISU associate, is owed the £60m. They would then have to agree any CVA to prevent further points penalty. Lets say £30m of that debt isn't money SISU have put it (was carried over when they took over). They could say they will only accept a CVA that pays 50p in the £. Technically they lose £30m but if in reality they have only put in £30 then they are still owed every penny. A £30m CVA payout puts off any other bidder so we end up with SISU back in control, still owing them £30m, nowhere to play and all the squad relased or transfer listed. of course that's only one scenario and quite an extreme one put it's still possible. would anyone say we were better off for having been in admin if that happened?

Sick Boy · Apr 29, 2013

Covstu said:
A few weeks ago, there was alot of people wanting administration which has now enivitably happened. Today it looks like we will be releasing players to try and balance the books which (and lets see who leaves) is only going to put us deeper in the mire.

SO are these fans all happy now they got their wish????:thinking about:

A lot seemed to believe that administration was this magical thing which led to a billionaire taking a club over, resulting in back to back promotions.

BackRoomRummermill · Apr 29, 2013

A lot of people jumped on a band wagon that admin will be the catchall pill to heal Cov , SISU wont leave anytime soon unless bought out. Also any billionaire will be cautious getting involved with SISU or indeed ACL

As a Cov fan I just saw 10 points taken, a decent manager leave and thats all i am worried about.

Noggin · Apr 29, 2013

Covstu said:
A few weeks ago, there was alot of people wanting administration which has now enivitably happened. Today it looks like we will be releasing players to try and balance the books which (and lets see who leaves) is only going to put us deeper in the mire.

SO are these fans all happy now they got their wish????:thinking about:

Abolutely no one wanted just a bit of the club in administration under a SISU appointed administrator. So it's a pointless question no one got their wish.

bigfatronssba · Apr 29, 2013

Covstu said:
A few weeks ago, there was alot of people wanting administration which has now enivitably happened. Today it looks like we will be releasing players to try and balance the books which (and lets see who leaves) is only going to put us deeper in the mire.

SO are these fans all happy now they got their wish????:thinking about:

If this leads to getting rid of Sisu then it will all be worth it.

shropshirecov · Apr 29, 2013

bigfatronssba said:
If this leads to getting rid of Sisu then it will all be worth it.

No sign of this any time soon.....

bigfatronssba · Apr 29, 2013

shropshirecov said:
No sign of this any time soon.....

These things take time.

As for what is happening with the squad, that would have happened regardless due to ffp.

Covstu · Apr 29, 2013

Noggin said:
Abolutely no one wanted just a bit of the club in administration under a SISU appointed administrator. So it's a pointless question no one got their wish.

people wanted us to go into admin to get rid of SISU, sadly we have gone into admin but SISU remain. Only time will tell if we can get rid of them for good but they have their claws well and truly in our club and they are not going to go away without taking a large pot of compensation or the club with them.

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