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  #61  
Old 27-07-2011, 06:55 PM
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Quote:
Originally Posted by brooklynlou
Assuming Zigic and Foster go, this is their current squad. Reminds me alot of Portsmouth in that they really lack any depth. This is not a team capable of promotion on the bounce.

portsmouth didnt have enough players to name a full subs bench at one stage. birmingham have adequate cover in every position except for right back...
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  #62  
Old 28-07-2011, 01:14 AM
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not so Bullshit. Papers running with Brum or Bust tomorrow.

Correction: Brum and Busted.


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  #63  
Old 28-07-2011, 01:25 AM
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How effective is this fit and proper persons test?
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  #64  
Old 28-07-2011, 02:28 AM
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How effective is this fit and proper persons test?
I'd say as effective as Fifa are at stamping out corruption in World Football.....
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  #65  
Old 28-07-2011, 03:09 AM
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Originally Posted by Kipungu
How effective is this fit and proper persons test?
Taksin passed it.


However there is nothing to suggest King Power are nothing, but a succesful company who are trying to lauch a sportsbrand.
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  #66  
Old 28-07-2011, 04:44 AM
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Quote:
Originally Posted by Kidofwonder
not so Bullshit. Papers running with Brum or Bust tomorrow.

Correction: Brum and Busted.


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brumorbust?, that was my original charity challenge name for next year,
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  #67  
Old 06-02-2012, 02:52 PM
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Birmingham's holding company have still not filed their accounts and have asked for another three months despite being already 3 months late. They may get thrown out of the stock market and it is all looking very dodgy

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While no one is making a big noise about it (Portsmouth catching all the headlines) they are in serious problems - their previous financial projections for this year specifically assumed they would not be relegated and the projections were still bad. Meanwhile the owner is still charged with money laundering involving over £56m. If this moves quickly they could crash and burn before Portsmouth although that is pretty unlikely.
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  #68  
Old 06-02-2012, 02:55 PM
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I'm still waiting for another Championship team to be deducted 10 points as quickly as we were.

As much as I don't want a club to fold, it's not fair that Palace got 10 points deducted and had to sell our star player, yet these clubs can still afford to pay people like Zigic and Kitson ridiculous wages each week.
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  #69  
Old 06-02-2012, 03:05 PM
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Quote:
Originally Posted by CrawleyEagle
I'm still waiting for another Championship team to be deducted 10 points as quickly as we were.

As much as I don't want a club to fold, it's not fair that Palace got 10 points deducted and had to sell our star player, yet these clubs can still afford to pay people like Zigic and Kitson ridiculous wages each week.
I'm sure the rules are the rules, however badly they're being bent.

That Birmingham and Portsmouth's expenditures and seeming problems are so much worse than Palace's is by the by - they have more financial backing and buffers. We had basically one person, and less financial backing which presumably left us with so little protection and sped up the process.
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  #70  
Old 06-02-2012, 03:05 PM
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Quote:
Originally Posted by CrawleyEagle
yet these clubs can still afford to pay people like Zigic and Kitson ridiculous wages each week.
I don't think they can!
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  #71  
Old 06-02-2012, 03:09 PM
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Din't wish it on any team....and nor should you
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  #72  
Old 06-02-2012, 03:16 PM
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Quote:
Originally Posted by CrawleyEagle
I'm still waiting for another Championship team to be deducted 10 points as quickly as we were.

As much as I don't want a club to fold, it's not fair that Palace got 10 points deducted and had to sell our star player, yet these clubs can still afford to pay people like Zigic and Kitson ridiculous wages each week.
I know where you are coming from but there were differences in the cases of Brum and Pompey to ours. Most of all we had an aggressive creditor who pulled the trigger. Had we failed to submit accounts or pay tax bills, we may ultimately have gone down the administration path but the whole thing would have dragged out far longer and with it the 10 points would have remained in tact until administration was entered.

For these clubs, they are in such a debt crisis that it is purely unthinkable what will happen once the rug is pulled from underneath them - and with Brum and Pompey I'm sure we'll find out what that reality is soon and see the cards come tumbling down. I don't wish it on anyone, but hindsight has shown that although Agilos actions were possibly fatal - it resulted in our future being secured a lot sooner (ironically at Agilo's expense as they'd have had their money back long before CPFC2010 came in).

Morally all situations are hideous - but ours was a bit different. The results could be, however, that whilst we remain - Pompey, Brum and Coventry may not. Sadly - I think at least one of them will cease to exist in their current format by the start of 2013.
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  #73  
Old 06-02-2012, 04:06 PM
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Brum still have 4 years of parachute payments don't they? Can't see them going under.
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  #74  
Old 06-02-2012, 04:09 PM
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Quote:
Originally Posted by PeterK
Din't wish it on any team....and nor should you
Any team with that **** rapist Marlon King playing for them deserves to go bust. *****.
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Old 06-02-2012, 04:11 PM
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Any team with that **** rapist Marlon King playing for them deserves to go bust. *****.
really?
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  #76  
Old 06-02-2012, 04:12 PM
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Quote:
Originally Posted by Windsor_Eagle
Agilos actions were possibly fatal - it resulted in our future being secured a lot sooner (ironically at Agilo's expense as they'd have had their money back long before CPFC2010 came in).


How?

How would we have got passed the fact that we were due in the High COurt the following day with a winding up petition filed by HMRC?

Why do you think Agilo pulled the trigger when they did? They did it to protect their investment and get the best return they could.
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Old 06-02-2012, 04:21 PM
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Din't wish it on any team....and nor should you
^^^this
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Old 06-02-2012, 04:27 PM
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Originally Posted by GreatGonzo


How?

How would we have got passed the fact that we were due in the High COurt the following day with a winding up petition filed by HMRC?

Why do you think Agilo pulled the trigger when they did? They did it to protect their investment and get the best return they could.
What I meant by that was that by pulling the trigger, it allowed those funds raised by the sale of Moses to be placed under the control of the administrator rather than Jordan's bottomless pit of debt. Whether or not the contract situation was legal - it was documented at the time that Agilo had ring-fenced any money made from the sale of Moses (as his contract was collateral when providing Jordan with the loan). They probably never would have got it all back - but certainly more than they ultimately did. Added to that the cup run money which possibly would have gone some way to clearing the Agilo debt. What remains uncertain is what would have happened had the winding up order been successful in court.

As it turned out, the administrator then allocated any raised funds as he saw fit (after the FL cleared our footballing debt). This may well have made the subsequent rescue by CPFC2010 possible by keeping the club going - just about.

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Old 06-02-2012, 04:31 PM
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Quote:
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Brum still have 4 years of parachute payments don't they? Can't see them going under.
Plus they're playing well under Hughton now and look a decent bet to go back up.
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Old 06-02-2012, 04:50 PM
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Quote:
Originally Posted by Windsor_Eagle
What I meant by that was that by pulling the trigger, it allowed those funds raised by the sale of Moses to be placed under the control of the administrator rather than Jordan's bottomless pit of debt. Whether or not the contract situation was legal - it was documented at the time that Agilo had ring-fenced any money made from the sale of Moses (as his contract was collateral when providing Jordan with the loan). They probably never would have got it all back - but certainly more than they ultimately did. Added to that the cup run money which possibly would have gone some way to clearing the Agilo debt. What remains uncertain is what would have happened had the winding up order been successful in court.

As it turned out, the administrator then allocated any raised funds as he saw fit (after the FL cleared our footballing debt). This may well have made the subsequent rescue by CPFC2010 possible by keeping the club going - just about.
Agilo had the same deal over Fonte's sale and how much did Agilo get? Nothing. The money went through the FL or FA and there it stayed, paying off our football creditors. I forget which club had made a complaint due to failed payment.

So as you say Agilo had a charge over all the assets of the club (which for us was pretty much just the players) a position which allowed them to bring in administrators. So the following day a judge was going to hear that we owed £2m and he was going to ask how that was going to be paid. No-one was going to lend a debt ridden club who already have a charge on their assets any money, SJ was clearly not going to throw the money in there so the answer was simple. We had no way to pay our tax bill, even if we sold a player the money might never reach the club with football creditors still outstanding a little. Agilo have first dibs on that money and if they give it up to HMRC where would they get their return?

I have little doubt that we were in real danger of being wound up the following day, that putting us in administration was Agilo's only chance of realising any return on their loan. They also funded administration to the tune of £1m to keep us in business - crucial in the history of the club. They made money from their deal with Palace and that is what they are in business to do and they only achieved that by the administration order.

The sad fact is that Agilo for all the abuse they get on these boards saved the club, only for a time until CPFC2010 came in, but saved it none the less.
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