Batistuta coming out of retirement?
Can you not name them?
Can we sign free agents when in administration? If not - I hope we get out soon!
no and it doesn't look to me like we are going to be out of embargo in time to sign anyone.
Much as I don't want to put a dampener on the best, nay, only fun transfer rumour we've had on here this summer, I do have to say the word "embargo".
Now, Godiva, have you been looking for these?
View attachment 2224
I am sorry - I should have put in 'Can we sign free agents when in administration? If not - I hope we get out soon!' ...
Oh, I did!
But Holdings have most of the player contracts ... are they not allowed to sign another?
Given history, I'm not sure that one of our "bangs" being an Argie is really appropriate...
I am sorry - I should have put in 'Can we sign free agents when in administration? If not - I hope we get out soon!' ...
Oh, I did!
But Holdings have most of the player contracts ... are they not allowed to sign another?
I am sorry - I should have put in 'Can we sign free agents when in administration? If not - I hope we get out soon!' ...
Oh, I did!
But Holdings have most of the player contracts ... are they not allowed to sign another?
I was trying to jest, to be light-hearted. Sorry it failed. Holdings have not filed their accounts either so logically the embargo should apply regardless of whether it is Limited or Holdings that owns the players.
I missed the jesting ... sorry! No excuse from me. I simply missed it.
Yes - Holdings haven't filed accounts, but that could change. But as they seem to be transfering everything to Otium ... which haven't filed accounts either ... I guess they will be waiting until they know how ACL will vote on the CVA.
I'll add extranext time!
I don't care if it's BS it's so refreshing to talk football/er instead of all the other initials Sisu Acl Gs Fl etc. I've heard he'll be training with us until we file accounts! Can you take players on trail under embargo.?
Yes you can use triallists in pre-season friendlies even if you're under a transfer embargo. However you can't sign anyone, even free agents.
It looks as if we won't be out of administration until well into the season - even if ACL agree to the CVA (which looks unlikely) there is a 28-day 'cooling off' period before the FL could consider lifting the embargo.
As well as coming out of administration, SISU need to file company accounts - this should have been done by February 28th. The CCFC (Holdings) accounts will be the crucial ones because they must show when and why the 108 players/staff contracts were transferred from CCFC Ltd to CCFC (Holdings).
(Of course I'm not suggesting that any asset stripping has occurred during SISU's tenure at all - because that would be illegal.)
Bearing in mind all of the above, I fail to understand why any decent free agent would even consider CCFC as things stand.
But if they plan to collect all football related activities under Otium then that would require FL issue grant Otium the golden share ... not limited, so the key question is when could that happen?
What steps are required for Otium to apply for the Golden Share?
Will it have to await the CVA? Probably yes, but will they have to wait the entire cooling off period?
I would think Otiums accounts are ready to be signed and filed as soon as the Golden Share is granted.
Limited and Holdings are most likely both being liquidated as soon as Otium is declared 'the club'.
I would think Otiums accounts are ready to be signed and filed as soon as the Golden Share is granted.
Does a company which has not filed accounts have to file accounts as part of the process of exiting administration?
Going to be interesting to see how this plays out. My understanding is that usually a new holding company would be formed by the new owners which would then take ownership of the existing Ltd company so the FL would be issuing the GS to that same Ltd company. SISU seem to be wanting to leave Ltd behind and make holdings the club with Otium as the holding company. Think we'll find out if and when ACL refuse the CVA. What the FL rules then is anyones guess.
Sorry for the late reply - I was composing another post.
To answer your question: I'm not sure, but I'm sure somebody else (OSB58?) might be able to clarify this.
My point was that they would need to file accounts to come out of the transfer embargo.
But if - and we now know this is a big if - the Football League were to follow their own rules, wouldn't Otium's accounts have to be signed off before they are granted the Golden Share?
It may be true.
I am sure the FL is following their own rules, but it's all quite confusing isn't it? Companies laws. Insolvency laws. And the Football leagues own rules, regulation and guidelines (I am not sure you can classify their regulations as laws).
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