Embargos, HMRC Payment defaults, non payment of wages, the usual under Dai Wrongge

[wally bassoon]

My family are in the process of getting me one of the bricks in the wall for my 50th this month, would HNA suggest they hold back on this purchase?

[NathStPaul]

My family are in the process of getting me one of the bricks in the wall for my 50th this month, would HNA suggest they hold back on this purchase?

Get them to buy a few more bricks. Might go a small way towards building the new stadium when we sell the SCL.

[WestYorksRoyal]

If administration is confirmed, is it a big enough deal to get its own thread?

[Brogue]

If administration is confirmed, is it a big enough deal to get its own thread?

No.

[leon]

If administration is confirmed, is it a big enough deal to get its own thread?

No.

i reckon we should take sttrandeds list of outcomes create a poll and see who correctly predicts the outcome

[leon]

then we shut down the team board forever

[Stranded]

seems the fairest way forward as we all go off to support our new clubs.

Will miss you guys.

[Millsy]

If administration is confirmed, is it a big enough deal to get its own thread?

No it can be accommodated by the Good Day Bad Day thread on AE probably.

[NathStPaul]

If administration is confirmed, is it a big enough deal to get its own thread?

No it can be accommodated by the Good Day Bad Day thread on AE probably.

No that is against the rules.

[Millsy]

If administration is confirmed, is it a big enough deal to get its own thread?

No it can be accommodated by the Good Day Bad Day thread on AE probably.

No that is against the rules.

Oh, sorry.

[Snowflake Royal]

Can someone who actually knows what they're talking about post what the options are and the potential likelihoods?

I don't know what I'm talking about but this is HNA so as I see it.

Option 1: Sale of club and stadium, avoids admin
Option 2: Sale of club but not stadium - avoids admin but club must pay rent to Dai
Option 3: Club put into admin - new buyer found, Dai and other creditors get a few pennies in the pound - stadium owned by Dai and we pay rent
Option 4: Same but new owners use the "savings" made by buying the club cheaper to buy the stadium back
Option 5: We find no new buyer before the money totally runs out - liquidation.

In likelihood order at the moment I would go:

2, 3, 1, 4, 5.

It is possible of course that is all being briefed by someone trying to force a deal over the line.

If it's option 5 will we be refunded on any remaining RoyalsTV subscriptions (or get given free coverage on the phoenix club's games for a season)?

I've already had my Royals TV refunded

[Elm Park Kid]

It would be good to have an expert explain some of these issues. I do know that it's normal for loan/overdraft etc agreements to have a 'change of ownership' clause where the debt has to be repaid in full if the owners change. So, if Dai sells the clubs then the new owner would immediately have to cough up, meaning that the sale price Dai can get is lower.

As an overall figure, I would have thought that £40m for the club and stadium, minus whatever we owe to third parties is about the right amount. Derby was sold for a headline figure of £18m, but then tax and other debts had to be repaid and the stadium was bought separately for £22m. So - I think - the new owners ended up paying closer to £50m.

There is literally nothing to be gained by Dai allowing the club to go into administration if there are parties willing to buy without the stadium right now. But if offers are coming in at only £20m with the stadium then they are basically valuing the club at zero and he might as well just put it into administration. Getting £1.5m rent a year on a £20m asset is fairly good business, and if the club recovers then the asking price he can put on the stadium goes up. That's my uninformed opinion anyway.

[Stranded]

I don't know what I'm talking about but this is HNA so as I see it.

Option 1: Sale of club and stadium, avoids admin
Option 2: Sale of club but not stadium - avoids admin but club must pay rent to Dai
Option 3: Club put into admin - new buyer found, Dai and other creditors get a few pennies in the pound - stadium owned by Dai and we pay rent
Option 4: Same but new owners use the "savings" made by buying the club cheaper to buy the stadium back
Option 5: We find no new buyer before the money totally runs out - liquidation.

In likelihood order at the moment I would go:

2, 3, 1, 4, 5.

It is possible of course that is all being briefed by someone trying to force a deal over the line.

If it's option 5 will we be refunded on any remaining RoyalsTV subscriptions (or get given free coverage on the phoenix club's games for a season)?

I've already had my Royals TV refunded

Lucky git - only got €3 back for the Blackpool debacle.

[Stranded]

Latest random Twitter post this morning:

Club was actually sold 3 weeks ago and checks are going on with the EFL before it can be announced.

Probably complete bollocks - the lack of news does fit that due to the rule about no comms on takeovers allowed until ratified though but it is another of those random tweet getting info from someone who works at the training ground.

So, yeah, theres that.

[NathStPaul]

Complete tosh.

[WestYorksRoyal]

Latest random Twitter post this morning:

Club was actually sold 3 weeks ago and checks are going on with the EFL before it can be announced.

Probably complete bollocks - the lack of news does fit that due to the rule about no comms on takeovers allowed until ratified though but it is another of those random tweet getting info from someone who works at the training ground.

So, yeah, theres that.

Saw that too - first ever post by that account.

It's impossible to know tbh. No doubt plenty of fans know someone at the club, especially podcasts, SBWD etc., who will have fostered links. But there are also attention seekers and those who have been fed bad information.

Wait until rumours are confirmed or at least reported by a reputable journo. The journos who reported administration yesterday have a poor track record over the past 6 months or so.

[Hound]

It would be good to have an expert explain some of these issues. I do know that it's normal for loan/overdraft etc agreements to have a 'change of ownership' clause where the debt has to be repaid in full if the owners change. So, if Dai sells the clubs then the new owner would immediately have to cough up, meaning that the sale price Dai can get is lower.

As an overall figure, I would have thought that £40m for the club and stadium, minus whatever we owe to third parties is about the right amount. Derby was sold for a headline figure of £18m, but then tax and other debts had to be repaid and the stadium was bought separately for £22m. So - I think - the new owners ended up paying closer to £50m.

There is literally nothing to be gained by Dai allowing the club to go into administration if there are parties willing to buy without the stadium right now. But if offers are coming in at only £20m with the stadium then they are basically valuing the club at zero and he might as well just put it into administration. Getting £1.5m rent a year on a £20m asset is fairly good business, and if the club recovers then the asking price he can put on the stadium goes up. That's my uninformed opinion anyway.

Yeah that’s the same conclusion I came to

[Stranded]

Latest random Twitter post this morning:

Club was actually sold 3 weeks ago and checks are going on with the EFL before it can be announced.

Probably complete bollocks - the lack of news does fit that due to the rule about no comms on takeovers allowed until ratified though but it is another of those random tweet getting info from someone who works at the training ground.

So, yeah, theres that.

Saw that too - first ever post by that account.

It's impossible to know tbh. No doubt plenty of fans know someone at the club, especially podcasts, SBWD etc., who will have fostered links. But there are also attention seekers and those who have been fed bad information.

Wait until rumours are confirmed or at least reported by a reputable journo. The journos who reported administration yesterday have a poor track record over the past 6 months or so.

Tweet has been deleted now.

[Clyde1998]

Latest random Twitter post this morning:

Club was actually sold 3 weeks ago and checks are going on with the EFL before it can be announced.

Probably complete bollocks - the lack of news does fit that due to the rule about no comms on takeovers allowed until ratified though but it is another of those random tweet getting info from someone who works at the training ground.

So, yeah, theres that.

Saw that too - first ever post by that account.

It's impossible to know tbh. No doubt plenty of fans know someone at the club, especially podcasts, SBWD etc., who will have fostered links. But there are also attention seekers and those who have been fed bad information.

Wait until rumours are confirmed or at least reported by a reputable journo. The journos who reported administration yesterday have a poor track record over the past 6 months or so.

Tweet has been deleted now.

Not a surprise as it sounded complete shite. I'm fairly certain anyone taking over the club could provide a loan prior to the takeover being ratified. Given the risk of HMRC winding up petitions and further EFL sanctions, you would've thought that would've happened if someone was actually that close to buying the club.

[Stranded]

Saw that too - first ever post by that account.

It's impossible to know tbh. No doubt plenty of fans know someone at the club, especially podcasts, SBWD etc., who will have fostered links. But there are also attention seekers and those who have been fed bad information.

Wait until rumours are confirmed or at least reported by a reputable journo. The journos who reported administration yesterday have a poor track record over the past 6 months or so.

Tweet has been deleted now.

Not a surprise as it sounded complete shite. I'm fairly certain anyone taking over the club could provide a loan prior to the takeover being ratified. Given the risk of HMRC winding up petitions and further EFL sanctions, you would've thought that would've happened if someone was actually that close to buying the club.

Oh complete bollocks I'm sure though of course, we have no idea who paid this month's wages. We know SCL paid the month before but not who paid this months. It was probably Dai but could easily have been a loan from somone else.