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As per previous posts, where the f@@k is the 125% in the deposit account? The account the EFL (not unreasonably for once) told the owners to set up to avoid “liquidity” issues. Or did that get used already and not replenished?
The EFL are going to crucify us over this.
Maloney’s body language tonight was not one of a man with plenty of money who’d just been told his wages would be a day late. That said a lot.
The credit insurance market moves incredibly quickly. Every phoenix company, by definition, is deemed high risk until it proves itself otherwise. When the results came out, the credit rating collapsed, so they had to withdraw the ST sales on Thursday, but blamed it on “continued technological improvements”.
We didn’t see the last administration coming. This time the writing is already on the wall.
RIP.
NB the Body will be cremated and the ashes taken to Bamber Bridge FC.
Branningan and Tel Al come forward with what I can only describe as an egg cup of water to quell a raging bonfire. More words of reassurance and excuses which means fcuk all. As I pointed out, the escrow type holding account with 125% of the wage bill we were told to put in place??? No mention.
I’m sorry but I can only see one way out
Administration
This is were were heading. They can talk the talk but every other month you don’t pay wages on time ?. All this Phoenix companies liquidation etc etc etc doesn’t hide the fact were not paying staff on time.
I personally feel they should sell the club for free to a new owner. A club debt free were someone can take over so we can live within our means which doesn’t include a small band of players on 10k a month who don’t play and paying managers off full contracts twice in a season.
If we’re run well in League Two which youngsters coming through, finaually stable and not reliant on foreign money skint but stable I will be quite happy. I want a club built from the bottom up not the other way round.
Our club was built on this we can never be a big spender nor a huge club. Our current owners came, saw the FA Cup pictures, the stadium and were blinded by the cheap price of the club.
They seriously never looked deeper than that.
They threw coin at League One players wages overpaid most them then when we got into the Championship I think they thought we’ve already paid good money in wages Liam, crack on with what you got but in reality what happened was,We massively overpaid wages for a squad of League One players to get us out L1 and our owners thought that would do the trick in the Championship because they’d already forked out make do pal but we all know we would struggle like fcuk without 5-6 new players.
Richardson was hung out to dry been told no money, we pay him a huge pay off along with Toure and staff, half a dozen players on 10k+ and a squad only fit for L1.Now the owners are having to prop it up while their other outside business are in liquidation mode then they tell us
“All’s well back in the camp” but ppl aren’t paid ??.Oh my God !! they must take us for mugs. I’m afraid but we’re heading for administration that’s the fact. It might not happen now but come summer mark my words these owners will be long gone but hopefully they have the decency to leave the club in tack debt free so to give new owners a chance.
Not necessarily administration at this point but we need new owners I think that is now clear. This lot made a promise to the fans that we would never have to go through the nightmare of administration again, let’s see if they are true to their word. We need UK based owners ,hopefully local , surely a consortium could be put together to save the club. The figures required are not huge in business terms but we must keep hold of our key assets the stadium ,training ground etc. I think as fans ,at least initially ,we need to lower our expectations and be thankful we will still have a team to watch even if it is at Division One or Two level.
The figures required are not huge in business terms but we must keep hold of our key assets the stadium ,training ground etc. I think as fans ,at least initially ,we need to lower our expectations and be thankful we will still have a team to watch even if it is at Division One or Two level.
£7.7m loss is huge on the turnover. It will need someone with no interest in getting a return from their investment for a long time to come in and buy the club, and those type of people are very hard to find. The talk last time was someone would need to burn through £19m to steady the ship before they could even think about which direction the club goes.
In business, the first loss is generally the best one to take. These chancers have come along and thought they could flip it for a profit with a few pen emoji tweets, a sharp-suited chief exec and bugger all else. The only good thing to come out of this shit show is that it will cost them a shit load of money, and probably make Brannigan a persona non grata in the footballing world.
That’s why a local consortium would be the best option. They would have the clubs best interests at heart ,the investment would be spread between several individuals who are not looking to get a quick return on their investment.The key to it would be that the club does not spend beyond its limits ,like I say fans would have to lower their expectations as the club slowly progress with prudent financial planning. I have absolutely no idea why the current owner invested into the club other than to make a quick buck ,we have to get away from that kind of chancer.
We could get in touch with all those people that were throwing bids in last time couldn’t we?
There was erm, thingy and wotsit. That fella and the other one. Thingamajigger and yon Mon.
Nobody wanted us at £3m who will want us at £15m???
Like I said weeks ago, Pollard will be hovering like a vulture to nip in and get the ground for a steal !!!!!!!!!
Like I said weeks ago, Pollard will be hovering like a vulture to nip in and get the ground for a steal !!!!!!!!!
That’s what I am worried about ,we can’t let that happen !
Total incompetence..no other way to describe whats happening….Balls to the excuses. They’ve f@@@@@@ up the wages 3 times prior. The EFL set out criteria for avoiding this occurring again and gave us a 3pt suspended deduction. If the 3pts deducted (possibly more if its discovered they didn’t set up the requirement for a wage safety net account) gets us relegated then the players,staff and supporters will have been screwed again by amateur businessmen owners. As for selling season tickets….who in their right mind would put any further money into our club whilst these buffoons stumble from 1 cock up to another ? Can’t see the EFL giving them another chance. If we do drop the blame will be solely on the owners…….with such incompetence how do they cope in their own business environment ? They’ve winged it here,no idea what was required to run a championship club and its the staff and us who’ll feel the grief!!!!…..yet again.
So, is the general opinion that the Chairman is an incompetent fuckwit out of his depth, or a lying piece of shit?
So let’s see
We failed 3 times we failed
to pay wages and were I instructed by the EFL to set up a holding account an escrow type account and to put in 125% of the monthly wages into there so incase we had a similar problem we could emergency dip in and pay the owed monies thus avoiding the likelyhood of any 3 point deduction thats hanging over us till Dec 2023.
Was this done ?
No
Did Branningan explain why ?
No
Had this been in place no one would be the wiser, wages would have been paid and we could crack on worry free regarding administration.
Now it’s ok saying oh it’s liquidated what ever the owners never made the escrow account and they had 5 months to do so.So we are suppose sit back, listen to them telling us everything’s fine and “Were commited” when you can’t pay wages and their incompetence has cost us any chance of staying up because a 3pts deduction is def coming our way for sure.
Someone should ask Branningan were is this holding account and why it wasn’t used ??.
I can’t trust them all my faith has gone. I have a feeling something is brewing and we better strap in for some bad bad news.
If your init for the long term they why do they make a total fcuk up of all our fianances.
They need to blow the dust off their wallets and splash a few bob to sort this sh1t out because otherwise you’ll take us out of business and out the League.
Isn’t it great how outsiders can come in and ruin something that’s been here for 90 odd years.
As fans we ask for
No lies
Truth
Clarity
Honesty
Kept updated
We’ve been through a horrible administration so we know how the turd smells and it’s far worse than we ever anticipated.Presume most people have seen this, but I’ve not seen it linked on forums, so here goes…
The EFL ruling from January –
Point 7(a) makes it clear the suspended 3 point penalty will be applied “immediately” if any further breach before 31/12/23.
Point 7(b) is interesting. Pretty obvious from what’s happened the deposit account hasn’t been used, but “the full terms of which have been set out in an agreement between the EFL and the Club”.
Anyone know anymore? There’s no timescale shown in the published ruling for setting up the account?
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