The Football News Thread 2022/23

[Paddingtonwolf]

Hmmm. Sort of suggests that Lai’s ownership of the shit is basically a Ponzi scheme. Now, I hide my dislike of all things shit well and really could happily watch them suffer being significantly worse than mediocre for decades (you can pick yourselves up after your faint now) but this could be a whole different level of pain that I wouldn’t wish on any club.

What happens if these investors call in the money they are owed by Lai? He’s a man of straw by football club ownership levels and their assets are waaay short of clearing the amount he owes these people.

 

[Tony Towner]

Without wishing to walk into a cliche, I'd imagine it includes the type of people you really don't want to to owe money to

 

[Paddingtonwolf]

A variety of sources. The Singapore bank should be above board but there are some very murky investors in there who I am sure will be happy losing their shirts

 

[Kenny]

Lai could well "disappear"

If they can't pay that £20m back as well they face losing all assets.
Imagine putting your Stadium & Training Ground as security on a £20m loan.

 

[Tredman]

Promotion or literal bust

 

[Tony Towner]

Given their form under the new manager they look good for the play offs, but 13 points off 2nd looks too much. Would need a currently in great form Sheff Utd to collapse. Villa didn't go into administration because of a play off win, looks Albion need the same luck

 

[Paddingtonwolf]

The thing in their favour is they have got what looks like an excellent manager for the Championship in place. They probably will make the end of season shoot out. The top two are a long way clear and it would take a devon loch moment for Albion to catch them.

 

[Paddingtonwolf]

Lai could well "disappear"

If they can't pay that £20m back as well they face losing all assets.
Imagine putting your Stadium & Training Ground as security on a £20m loan.

There is something infinitely dumb in securing a loan that might become extremely problematic to pay on one result in a coin toss on assets worth rather more than the loan itself. They have just volunteered to become immensely highly geared.

 

[YoungWolf]

I thought Villa got lucky with the new owners after they lost in the play offs to Fulham? then got promoted the year after through the play offs but had owners with actual money at that point

 

[Sniffer]

I thought Villa got lucky with the new owners after they lost in the play offs to Fulham? then got promoted the year after through the play offs but had owners with actual money at that point

I think you are right - they would have been stuffed from an FFP perspective though. They sold the ground to pass the rules in the year they were promoted.

 

[Paddingtonwolf]

Xia still owned the club when they won the playoffs. Lose the match and they were on the fast moped to liquidation city.

 

[Tony Towner]

Yep administration was the wrong word. They wouldn't have gone bust, they would have had to sell anyone worth anything to get close to FFP and the ground sale would have been investigated if they were still an EFL side

 

[Paddingtonwolf]

They also sold off car parking at an absolutely colossal over value to pump their books

 

[Wolvensam]

Rivalries aside I do feel for them - their owner is an absolute crook.

 

[Paddingtonwolf]

I started off thinking he was just incompetent. However, getting further investment in to pay off original investors and grifting off a chunk is the statutory definition of a Ponzi scheme. Its highly illegal and the authorities should not be tolerating it. And the loan secured on their only assets bar playing staff (which isn't a great value looking at their current squad) is just putting the whole club hugely at risk.

I despise them. But the last thing I want is for them to go pop courtesy of this charlatan. Albion fans may be (insert your favourite insult here) but they are cut from the same cloth as us, and they helped with buckets when we were close to annihilation. They don't deserve the club they love being grifted out of existence, and that is a serious risk.

 

[Alan]

I'll be quite sad if Albion go under.

Before I had any idea of the history of the clubs, they were actually in the "final 3" clubs I picked from, so to speak. Obviously I've made the correct choice but it's left me with a weird soft spot for them.

 

[Tony Towner]

They won't go under. Just like Derby clubs that size don't. Admin and a points discussion would be very likely though if they don't go up

 

[Alan]

I'm not sure I understand the difference between going under and going into admin.

 

[Tony Towner]

One involves the club disappearing like Bury, the other taking their financial and sporting medicine like Derby

 

[sycophantia]

Going under, is gone.
Admin usually involves dropping down the leagues a bit and maybe restrictions on signing players for a while.