Options/receivership

[Harpers So Solid Crew]

Things just look worse and worse, JM has keep things going this year, now his house is up for sale.

Can he keep us going or is the only way going into receivership now?

If so, would it be better sooner rather than later?

[Ian Royal]

Because what we really need is more ill-informed panic speculation to no useful end.

[sandman]

FOLD THE CLUB!!!

It's the only way.

[winchester_royal]

If things are that bad we'll just have to sell. We've still got a couple of very sellable assets.

[Harpers So Solid Crew]

The thing is WR if it was that easy we would just sell Mc C, and ANother and we could survive, but we are looking at large money that we have to pay out this coming season thanks to Anton, selling a couple of players wont cover it, so who will now that JM seems unable to?

It is like that credit card bill that ends up in the hands of a debt agency to sort it out, the debt rarely goes away. Just gets worse, however much is thrown at it, as fees are added, and the agency looks for a cut.

[Agent Balti]

What on earth are you talking about, 2-0?!

[Royal Biscuitman]

The house sale is presumably because JM is in trouble or just fancies moving somewhere else..... maybe to a bigger house once the sale has gone though?

[Wycombe Royal]

What's wrong with Admin first? Going straight into receivership would be a bit of an over-reaction....but there again this is HNA where paranoia reigns supreme......

[Harpers So Solid Crew]

Sorry that was what I meant!

[Mr Angry]

Schoolboy error 2-0!

[Ian Royal]

Sorry that was what I meant!

Very reliable.

[multisync1830]

The house sale is presumably because JM is in trouble or just fancies moving somewhere else..... maybe to a bigger house once the sale has gone though?

so sjm maybe in trouble or he may not . can you add anything to this insight?

[Harpers So Solid Crew]

What is the situation for the players if we go in to administation? Can we lose them, and keep who we chose, on new contracts?

[Royalwaster]

What is the situation for the players if we go in to administation? Can we lose them, and keep who we chose, on new contracts?

You can't lose them and keep them at the same time.

[SPARTA]

What is the situation for the players if we go in to administation? Can we lose them, and keep who we chose, on new contracts?

That's for the administrator to decided. Usually start with losing staff on pennies in comparison though. See Pompey for a great example.

[Ian Royal]

What is the situation for the players if we go in to administation? Can we lose them, and keep who we chose, on new contracts?

It's one of the most fundamentally well known and talked about points in football finance, particularly administration, that footballing debts (players) have to be paid in full or you lose your place in the league system entirely.

So no, we can't lose them, or put them on new contracts to replace their old ones. Unless they agree to waive their wages we have to pay them every single penny we're contracted to.

[Harpers So Solid Crew]

Every senior player left Portsmouth when they last went into administration, I doubt they were paid up in full, but agreements reached. Nowhere can I see that new owners have to honour in full the contracts of the current playing staff. Yes to wages owed, I will keep looking, I do seem to remember that some clubs let coaches and other football staff in early on in the process, .
Had it happened at Reading who would have wanted to take it on with some of the large contracts we are supposed to have? It would be madness surely?

[Nameless]

Not sure what has happened to your thinking brain 2-0
Players aren't contracted to owners, they are contracted to the club. It's the same club. If a club folded and was replaced by a new legal entity then that would be different but I suspect if that happened these days the club would lose it's league place as well.
At Pompey players did gradually leave, most agreed a partial payout or decided they would be better off finding new clubs and cutting their losses. Some players refused to accept reduced payments (IIRC Kitson was one) and there was talk that if players insisted on being paid the club would have to be liquidated.
)

[Agent Balti]

I really don't think you need to care that much about it now, 2-0, tbh! That ship now no longer needs to sail.

[Nameless]

I really don't think you need to care that much about it now, 2-0, tbh! That ship now no longer needs to sail.

Assuming the new boys do actually have some cash.....