This administration malarkey

[boris]

This administration malarkey

Halifax could be okay, but then again may not be, according to nonleague today. One of the potential buyers has pulled out, leaving the way clear for a consortium (why does that word fill me with dread in this context) which has been running the club to take over. However, legal advice is being sought (it doesn't say by whom, but it implies it's Begbies Traynor, the administrators) because the club already has a long-running CVA and will probably have to enter another one to pay off current debts.

[boris]

This administration malarkey

Today could be D-Day for Rotherham, according to the BBC.

Any of the Rotherham supporters know owt more? Fingers crossed for you.

[Gangster Octopus]

This administration malarkey

There's all sorts of rumours and counter-rumours flying about. I can't decide whether or not to travel up to Millmoor tomorrow, on the off chance that the game against Dagenham will be our last ever...

[Glass Half Empty]

This administration malarkey

This seems very bad. The deadline has already been extended one week to allow bids to develop and the administrator doesn't seem like a guy with a great deal of patience.

Radio Sheffield claims that there are about half a dozen groups/individuals looking to take over but the fact that none seem to be in place yet is going to result in some severe nail munching this afternoon.

It' typical to see that the major sports news sources couldn't give a shit. Predictable enough for Sky but aren't the BBC meant to have some community remit?

[Danger Mouse]

This administration malarkey

Never mind the BBC, the official site has been ominously quiet apart from the occasional press release.

Edit: Can't quite believe I'm sitting here constantly refreshing the BBC site, whilst looking at 4 clocks all telling different times so we've either still got hope or we went under 2 minutes ago...

[Nocturnal Submission]

This administration malarkey

Still alive.

[Gangster Octopus]

This administration malarkey

Looks like I should travel after all.

[Gangster Octopus]

This administration malarkey

David Conn's reasonably well researched view. It looks like two of the opposing bids are from the two current largest shareholders. C'est la même chose...

[Gangster Octopus]

This administration malarkey

Another day, another press release. This one's a cracker.

PRESS RELEASE, SALE IN JEOPARDY
Posted on: Thu 24 Apr 2008

Jeremy Bleazard, Administrator of Rotherham United FC today warned the future of the club had been thrown into jeopardy.

Bleazard of XL Business Solutions said "I have been in negotiations with the 5 bidders for the club and believed we were very close to striking a deal and announcing the preferred bidder".

However, at lunchtime today I have received a fax from the landlord's solicitors, DLA Piper, demanding a personal undertaking from the Administrator that any sale of the club would include the benefits afforded to Mr Booth.These benefits include free tickets, hospitality, advertising and even use of a physio at no costs and would remain in place whether the club stayed at Millmoor or moved to a new ground."

Bleazard added "The fax went on to say that failure to give such an undertaking by 4pm today, could result in an application to court tomorrow morning requesting an order restraining the sale of the club and he would be liable for their costs"

Bleazard said "I am unwilling to give a personal undertaking to this effect."Any purchaser who stayed at Millmoor would have to negotiate the terms of their occupancy with the landlords.However, by giving this undertaking I am committing a purchaser to an obligation whether they play at Millmoor or not.If the application were to be made I have no funds to defend the action and may have to close the club immediately"

He added "Of the 5 bidders 2 have gone cold as a result of information they have unearthed relating to the leases and benefits packages.Of the remaining 3 bids, I was confident I had found the preferred bidder."

[statto99]

This administration malarkey

I know it's not particularly the same, but I know well DM's experience of constant refreshing as the deadline for apparent extinction approaches, arrives, passes and then reappears on the horizon for another round. I also understand the frustration that the jeopardy itself seems to return in fairly quick cycles and it always seems to be the same few people who are really, properly interested in assuming charge.

All the very best to the Rotherham folks.

[Gangster Octopus]

This administration malarkey

Ah, those lovely Booths...

[Ray de Galles]

This administration malarkey

Can you not look in to having him killed? Or at least make a few death threats? It would seem warranted.

Um, er, allegedly. Does that cover us legally or should I delete? How about a big

*COMEDY ALERT*

THE COMMENTS ABOVE IN NO WAY SERIOUSLY ENDORSE WAGING A CAMPAIGN OF DEATH THREATS (OR INDEED ACTUAL DEATH) ON THE BOOTH FAMILY.

[Gangster Octopus]

This administration malarkey

A couple of female London Millers have long regretted not helping him to go a little faster downstairs than he would've liked a few years back...

Having said that, I think Ken's a little too far gone these days, and the games are being played by his football-hating sons. (One of whom I went to school with, fact fans...)

[Gangster Octopus]

This administration malarkey

Curiouser and curiouser...

[Gangster Octopus]

This administration malarkey

The light pours out of them...

[Guest]

This administration malarkey

The latest at AFCB:

"Good morning ladies and gentlemen and welcome to the latest press conference in the Bournemouth saga. Can I thank you for your forbearance as every day for the last ten days some of you have been ringing me asking for statements. I've said it may be today or it may be tomorrow and we've now got to the day where there is something of certainty.

When we left it last time we had two distinct offers on the table in writing which were not too dissimilar. Neither of the offers were from Mr Mostyn. I then spent with my solicitor and joint administrator, every few hours speaking to these people with promises that some money by way of a deposit would be forthcoming. The deposit I asked for was £100,000 non refundable for which that offer would get exclusivity and be the preferred buyer.

Despite many promises that the cheque was ready, but can they have just one more question or another day, no money was released to me last week. I therefore put both buyers on notice and said unless I received the money by noon yesterday [Monday April 28th] effectively their offers would be rejected and put back to them with no further discussion. As of noon yesterday the money was not forthcoming from either of those sources.

That put us in a bit of a quandary as it's the end of the month and wages need to be paid and we needed funding to do that. I am pleased to say that once again Mr Mostyn has stepped forward and given me sufficient funds so that all the wages could be paid as of yesterday and today together with a number of other bills.

As a result of the substantial sum he gave me yesterday the club will now go forward to the end of the season with no problem. I know that's only a week away, but bearing in mind what's happening on the football field I want to keep things as smooth as possible. As a result of that money Mr Mostyn is now a preferred bidder with total exclusivity and I will have no further dealings with any other third party because it's obvious to me that when push comes to shove Mr Mostyn has been the only guy to have written a cheque to keep the club alive.

I envisage that it will probably be three weeks going on four weeks while we do the fine print and put these things together and we are having discussions later this week on further funding with Mr Mostyn until the Football League transfer the share. This brings a degree of certainty for the moment to the club and bearing in mind Bournemouth are the most successful club in the whole Football League over the last six weeks which they should be congratulated and hopefully there will be a win at Carlisle on Saturday where I will be attending.

I would therefore ask that all people with Bournemouth's interests at heart and want to contribute financially in some way either small or large get in touch with Mr Mostyn who unfortunately can't be here today or My Sly and see what can be done. There's a lot of work to be done and a lot of decisions will be made about how the club is run next season and I'm sure they will welcome any support that is given.

I think that deals with the certainty we've got. The uncertainty is what happens on Saturday, hopefully it's a win, and Thursday when the Football League will hear the result of the Leeds United decision as to whether the fifteen point penalty is in place or whether it's reduced because that could have a bearing on Bournemouth's future next season as it is most unlikely, but not impossible, that the joint administrators will be proposing another CVA. That is the exit route currently preferred by the Football League.

We've been sitting down with Mr Mostyn to discuss the contract and how it's going to work. He is the only person I will deal with in the next month. If anybody else decides they want to be a bidder they've got to go to Mr Mostyn and join with his consortium. There's no point anybody saying 'I'd have bought the club' as I've heard it all before. He has given me a further £80,000. I have an idea of what Jeff's bid will be, I didn't just take the £80,000 and run!

Please rest assured the team won't be camping out the night before the Carlisle match. These are arrangements I'm currently discussing as we speak and I want to make sure the team go into the match in such a frame of mind as to wallop Carlisle and win seven on the trot. Hopefully my old club Leeds will help out by getting a win.

The club was in danger of collapsing immediately after the last match; it isn't anymore. I've got to stay confident, but I think one way or another this will get sorted. When people make promise they don't keep you can get very cynical about it all, but some of the promises that have been made in the last week and not been kept have pushed that to new heights. Some people in the football dealings world as opposed to playing, have lost a lot of credibility with me."

[Guest]

This administration malarkey

The Rotherham chairman has admitted they will not exit Admin via a CVA...

[boris]

This administration malarkey

Live updates on whether or not Halifax Town will continue to exist in the Conference. This is better than reality TV, and more tense than something that's very tense, like high-tensile stuff.

[boris]

This administration malarkey

2.35pm
Halifax Town appear to be heading for liquidation.
Administrator Rob Sadler told the Courier's Dave Fletcher today the debt to the Inland Revenue appeared insurmountable.
Initial estimates had put the amount Halifax Town owed at £500,000 - but the meeting was told the figure was around £814,000.
He said this was likely to mean the end of the club.
"The cleanest way forward is to start from the bottom and build up again debt free."

Shame, if it happens. Does this mean yet another reprieve for Altrincham?