Quote: M@islebugs "I don't think I do agree Adey. Wakefield and Widnes start the season having been into administration recently and have not disappeared into oblivion. In fact it' fair to say that both clubs are in their strongest position in
a generation It's possible to argue that the only way to sort out the weak BOD and fractured shareholding is by going into administration. It could further be
argued that by supporting the club we are merely extending the period of management which has sent us into the current tailspin (Wakey posters have
argued just such a point). That actually the club is fundamentally dysfunctional and the dangers of administration are less than the potential benefits. After the Crusaders debacle my view is that there is almost zero chance of the RFL
stripping the Bulls of its license and certainly not for Fax or Fev.
I would buy a season ticket if they cost £300 but for what it's worth I think the 2012 pledge will fail because a, it's rather complicated and b, there is the feeling abroad that there is a more deep rooted malaise that needs sorting
other than simply raising more money. The only person I can see sorting it is an administrator as the city as a whole has lost faith with the Bulls and whoever may own it. Which other clubs supporters has had to witness it's largest shareholder negotiating a deal to take the best young player in the comp away from the club? Maybe I'm depressed but they don't deserve support.'"
In fairness to Widnes, it was several years ago that they went under, because Tony Chambers sold his shares to a bandit (and I doubt he ever got paid either). When the bandit went off the scene, O'Connor bought it and put a lot of money into the club - they now joing the "sugar-daddied" list so are considerably better placed than we are.
The club could only go into administration if it was unable to pay its debts. Given it has few debts, what that would likely mean would be either a big bill from HMRC or running out of cash to pay ongoing payroll and other costs. IF that was to happen (not the place to speculate on this thread how likely that might be) then to get a "satisfactory" outcome you would need:
1 - Someone ready willing and able to buy the assets off the administrator - and if not a sugar daddy we would be little better off, I suggest?
2 - The Council willing to transfer the long lease to NewBulls - and not just taking the opportunity to reposess Odsal.
3 - The RFL giving consent to both the transaction and the new owner - just because they approved Wakey does not mean they wouild approve us: it IS the RFL we are talking about here, don't forget! When were they ever consistent? And especially if Fax had an improved business and License plan and agreed to take on Bulls players...
4 - All the creditors who did not get paid - probably HMRC, the Council, some shareholders and a load of small local businesses - not looking to stymie a deal by showing it did not provide the best deal for the creditors. Don't think it would go down well with a load of small businesses not getting paid, as would almost certainly happen.
We'd get a points deduction (at best) and derision across the game. And doubtless Hetherington would do his best to cause us as much grief as he possibly can again.
And then who might we get stepping in? Maybe it would present Caisley with a golden opportunity? As you know, I don't see that being the answer.
And I would pretty well guarantee that, as part of any deal to buy the assets off the administrator, we would end up at Valley Parade.
Not saying I disagree with your sentiments - the present ownership structure is untenable, and I think your previous conclusions in that regard have helped crystalise thought processes there. Just not at all sure that the administration route - if the circumstances rendered that either an option or a necesssity - would be anything otehr than a last resort? I think maybe that is what you are saying though?
