The Football News Thread 2024/25

[Elephant Pyjamas]

Blur and Oasis are utter dogshit, I’d rather listen to my nan getting drilled from behind.

That's a bit weird.

 

[Boozad]

That's a bit weird.

No they really are dogshit.

 

[ROVERT47]

‘Whatever you want’.

 

[Dublin Drummer Wolf]

Beetlebummed?

Charmless Nan

 

[leedswolf]

Morning glory?

 

[Kenny]

https://twitter.com/x/status/1814239521220813142

 

[Deutsch Wolf]

Oh dear.

That smacks of "we have looked at the books and er, thanks and all that but we are not touching it"

 

[Kenny]

Guess the debts to 777 don't help.

Seems the group are still lending money to Everton to assist in the building of the Stadium

 

[Kenny]

Guess the debts to 777 don't help.

spoiler: They did not help

https://twitter.com/x/status/1814239255108997122

 

[Sniffer]

The debts are so vast you would either need the current lenders to agree to a huge losses or be willing to write off huge amounts to takeover the club. Any company who has amassed such a fortune isn't going to be willing to entertain such an idea.

I'd imagine that the current creditors/interested parties will be playing one hell of a game of chicken as going into administration comes with risks of not getting paid what you are owed or not being able to take control from the administrators.

 

[AndyWolves]

If you're a prospective buyer, why would you buy now?

 

[Tredman]

The debts are so vast you would either need the current lenders to agree to a huge losses or be willing to write off huge amounts to takeover the club. Any company who has amassed such a fortune isn't going to be willing to entertain such an idea.

I'd imagine that the current creditors/interested parties will be playing one hell of a game of chicken as going into administration comes with risks of not getting paid what you are owed or not being able to take control from the administrators.

Which 777 can't do - the money lent to Everton also has iffy provenance. They are in a very difficult position.

 

[Deutsch Wolf]

If you're a prospective buyer, why would you buy now?

Because admin puts the club at serious danger of relegation and you'll also lose players at below market value because the administrator just wants cash coming in to fund the club day-to-day and satisfy whatever CVA is agreed (and pay its own exorbitant invoices for running the club for whatever period). So all things considered the value of the asset once that process is complete - which could take months - is far lower.

Everton as a Championship club having lost most of their best players and with all that money gone on servicing old debts is not a very attractive purchase.

 

[Johnny75]

Because admin puts the club at serious danger of relegation and you'll also lose players at below market value because the administrator just wants cash coming in to fund the club day-to-day and satisfy whatever CVA is agreed (and pay its own exorbitant invoices for running the club for whatever period). So all things considered the value of the asset once that process is complete - which could take months - is far lower.

Everton as a Championship club having lost most of their best players and with all that money gone on servicing old debts is not a very attractive purchase.

Leeds mk II

 

[Del Woppio]

Aye, if they're bought now there's still a strong chance they'll retain PL status. They go into admin and they'd be a good bet to plummet to League One

 

[AndyWolves]

Because admin puts the club at serious danger of relegation and you'll also lose players at below market value because the administrator just wants cash coming in to fund the club day-to-day and satisfy whatever CVA is agreed (and pay its own exorbitant invoices for running the club for whatever period). So all things considered the value of the asset once that process is complete - which could take months - is far lower.

Everton as a Championship club having lost most of their best players and with all that money gone on servicing old debts is not a very attractive purchase.

They're kinda screwed, i see admin as being an inevitability for them.

I know football money is on another planet, but i just don't see anyone buying everton and then spending a fortune clearing debts

 

[Alan]

This is probably a question I should have asked years ago, but what are the real consequences of a club going into administration? Or is it essentially like bankruptcy here?

 

[Deutsch Wolf]

This is probably a question I should have asked years ago, but what are the real consequences of a club going into administration? Or is it essentially like bankruptcy here?

An administrator will run your club while they try to find a buyer (they also take a ridiculous fee for doing so, which comes first in the queue of bills to settle)

They don't care about football or how good players are, they care about their own invoice and keeping the lights on, so they'll sell anything as quickly as they can. So if Wolves went into admin tomorrow, you'd find Neto leaving the day after for some stupidly low fee relative to his actual value

They'll try to find new buyers, who in turn have to come up with some kind of settlement with existing creditors (can range from anything from <1p in the pound to agreeing to pay ~80% of what's owed - all depends on what the debts actually are, what security was attached, how willing they are to negotiate). If you owe football clubs or players anything then you have to pay them in full (but you DON'T, at present, have to pay the taxman everything that's owed, which annoys them massively and they keep trying to change that). The PL/FL/FA have to endorse the new owners before they can complete the takeover

The club gets docked points, it's 9 in the Premier League, all automatic, no right of appeal

 

[Del Woppio]

This is probably a question I should have asked years ago, but what are the real consequences of a club going into administration? Or is it essentially like bankruptcy here?

Basically accountants take over the running of the business in an effort to either get it sale worthy or ready to wind down. While it's in administration, no creditors can take legal action against the club to recover money

Anything of any value will be sold (players, land, assets, vehicles, houses) and immediate cash will be preferred over long term structured deals. Like a proper fire sale. They won't give a shit about the playing squad. They can as well recruit 18 post men and give them shirt numbers, then the business is a 'going concern' as far as they're concerned.

If they can't make the sale income equal negotiated debt satisfaction then they will be no more.

 

[Alan]

Cheers buds