No surprise it was posted by the most bitter fan they have,to be fair he has only had one reply so far.PigmanRDFC wrote:The annoying thing is we're giving these wankers entertainment ;)
http://www.poppynet.co.uk/viewtopic.php?f=2&t=10530
I would have thought they had enough of their own problems to worry about.
Administration imminent?
Re: Administration imminent?
AFC R&D Member 480
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Bob's Bitch
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Re: Administration imminent?
Credit to JE for carrying on, at least if we do go under we'll have last season to savour.PigmanRDFC wrote:JE sounds thoroughly pissed off in that interview !!
Indeed.BartonRaz wrote:For the first time, ever, i'm genuinely concerned now. Even just before KC took over i still didn't believe we would go bust, but i just don't see where we go from here.
Everytime i look at our 'chairman' he just screams out overgrown schoolchild. He certainly doesn't look like he should be in charge of a football club. Several well-respected people have posted on this thread that we are basically fucked, for lack of a better word. I'm inclined to elieve them.
R.I.P Dale. We will never forget you.
AFC R&D - Member No. 46
AFC R&D - Member No. 46
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Pigman
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Re: Administration imminent?
I bet Justin feels very let down, he turned down jobs at Grimsby and Darlo (apparently) based on promisies and assurances made to him by our new owners........now this !! I would think a total breakdown in trust has now occured.
Liam and Steve need to issue a statement IMMEDIATELY if they are to have any credibility in the eyes of the fans, not next week - now !
They're asking us to buy season tickets and invest in shares, but if the players aren't being paid then I'd be worried about doing either. Come clean guys - what is the current situation please?
Liam and Steve need to issue a statement IMMEDIATELY if they are to have any credibility in the eyes of the fans, not next week - now !
They're asking us to buy season tickets and invest in shares, but if the players aren't being paid then I'd be worried about doing either. Come clean guys - what is the current situation please?
Raising awareness of Motor Neurone Disease
RIP Dale Roberts - gone, but never forgotten!!
RIP Dale Roberts - gone, but never forgotten!!
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BartonRaz
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Re: Administration imminent?
I just told the old man to hold fire on buying his season ticket for a few weeks. I'd rather pay an increase in price in a couple of months time than throw £300 down the toilet.PigmanRDFC wrote: They're asking us to buy season tickets and invest in shares, but if the players aren't being paid then I'd be worried about doing either. Come clean guys - what is the current situation please?
They say we've lost our money we're not famous anymore.....
AFC Rushden & Diamonds - Member No: 291
AFC Rushden & Diamonds - Member No: 291
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Oundle Diamond #2
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Re: Administration imminent?
That's the thing. This isn't a dig at anyone, I'm doing the same. The fact is that if these rumours are going round, people arent going to buy season tickets and buy shares and invest money into the club, money the club probably desperately needs right now. Worrying times... everyone go out and buy some scratchcards please 
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CalversonDiamond
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Re: Administration imminent?
Been looking through BBC Northampton Iplayer but cnt seem to find anything on or about the comments made earlier ....
Flying High, Up In The sky, The Rushden Pheonix is flying high, From Our chosen ground, To The Football League, The Rushden Pheonix Is Flying High,[/color]
Re: Administration imminent?
I've got no inside knowledge and have only read what's on here and, as we all have, kept an eye on recent events. I have to say I think these rumours have more credibility than ever before based on what we are seeing & hearing. There are some fundamental differences to the past in what is now alleged.
There are many technical definitions of insolvency, but in the real world if you can't pay your key operational staff (in this case players) then you are bust, unless you have certainty of cash in the very near future. This is allegedly the second time in two months this has happened. I don't recall we ever been in this position before under previous owners.
Secondly, the HMR&C liability probably is something that crept out of the woodwork. However, payroll taxes must be one of largest creditors in any football club (the number of HMR&C winding up petitions in football suggest so). As a consequence the Due Diligence at takeover might be questioned. Nonetheless, that is the nature of takeovers and new owners usually have some contingency for such skeletons in the closet. Whilst this might not be the new owners fault the fact it remains unresolved and with a consequence of a transfer embargo is shocking. Surely paying this is a priority in the cashflow? JE said in a recent interview he had assurances debts would be cleared in March.
Both these factors suggest an absence of funds in the here & now, coupled with the public announcement last month that they had to wait for a debtor to pay before settling wages. That is the issue, irrespective of exciting future plans. I was quite satisifed with the position that the club's long (and possibly medium) term future was predicated on the success of the PBDevs business and its ability to create a synergy with the clubs assets. For what its worth, i think they are onto something with it although I can't believe it is necessarily a multi-million pound business long term and that regardless it will take a few years to bear fruit. For example, I think one course is on offer at present - hard to sustain a football club on that! What I am aghast about is the short term funding. Where is it? Surely it was known there was a requirement for the first year or so? How do we get through the summer? What were the owners expecting to do in the first year?
Onto shares for fans. Now, I'm happy (very happy) with the general concept, providing that it is explained to fans what the limitations of the shares are. However, I am not and will not put a penny into these until I understand what the major shareholders are putting in. If the fans own (and pay for) 10% then I am expecting them to put in 9 times that figure for their 90%. Of course, that could come from PBDevs in the long term, but equally it might not. What is going in now? Why as a fan should I put money into the club if I cannot see clearly the major shareholders are doing the same at the same time? Players not being paid and transfer embargos suggest this is not happening.
Very worrying times. I voiced some concerns a few weeks back and fellow posters said don't worry mate, nothing you can do so why worry. True enough and it is only football after all, but I still remember how proud I was to see the name of Rushden, my home town, on the scoreboard at the Millenium Stadium in the play off final. It seemed impossible then, but seems more so now. Administration? Well that's all well and good if there is something to sell. I'm not sure where the land sits now, but I fear not with the Football Clucb entity so unless there is a benefactor willing to fund a club it might be liquidation.
ToD made some relevant points on the KC era, but this is different. KC took it to the limit, but did always seem to pay, even in court or if the lights went out. He seemed to have some cash on "the hip" at the eleventh hour, do these guys? I guess we'll find out.
One final thought, I think JE may be the barometer here. I can't see him taking any crap and if he feels he has been marginalised, he'll be out before us.
There are many technical definitions of insolvency, but in the real world if you can't pay your key operational staff (in this case players) then you are bust, unless you have certainty of cash in the very near future. This is allegedly the second time in two months this has happened. I don't recall we ever been in this position before under previous owners.
Secondly, the HMR&C liability probably is something that crept out of the woodwork. However, payroll taxes must be one of largest creditors in any football club (the number of HMR&C winding up petitions in football suggest so). As a consequence the Due Diligence at takeover might be questioned. Nonetheless, that is the nature of takeovers and new owners usually have some contingency for such skeletons in the closet. Whilst this might not be the new owners fault the fact it remains unresolved and with a consequence of a transfer embargo is shocking. Surely paying this is a priority in the cashflow? JE said in a recent interview he had assurances debts would be cleared in March.
Both these factors suggest an absence of funds in the here & now, coupled with the public announcement last month that they had to wait for a debtor to pay before settling wages. That is the issue, irrespective of exciting future plans. I was quite satisifed with the position that the club's long (and possibly medium) term future was predicated on the success of the PBDevs business and its ability to create a synergy with the clubs assets. For what its worth, i think they are onto something with it although I can't believe it is necessarily a multi-million pound business long term and that regardless it will take a few years to bear fruit. For example, I think one course is on offer at present - hard to sustain a football club on that! What I am aghast about is the short term funding. Where is it? Surely it was known there was a requirement for the first year or so? How do we get through the summer? What were the owners expecting to do in the first year?
Onto shares for fans. Now, I'm happy (very happy) with the general concept, providing that it is explained to fans what the limitations of the shares are. However, I am not and will not put a penny into these until I understand what the major shareholders are putting in. If the fans own (and pay for) 10% then I am expecting them to put in 9 times that figure for their 90%. Of course, that could come from PBDevs in the long term, but equally it might not. What is going in now? Why as a fan should I put money into the club if I cannot see clearly the major shareholders are doing the same at the same time? Players not being paid and transfer embargos suggest this is not happening.
Very worrying times. I voiced some concerns a few weeks back and fellow posters said don't worry mate, nothing you can do so why worry. True enough and it is only football after all, but I still remember how proud I was to see the name of Rushden, my home town, on the scoreboard at the Millenium Stadium in the play off final. It seemed impossible then, but seems more so now. Administration? Well that's all well and good if there is something to sell. I'm not sure where the land sits now, but I fear not with the Football Clucb entity so unless there is a benefactor willing to fund a club it might be liquidation.
ToD made some relevant points on the KC era, but this is different. KC took it to the limit, but did always seem to pay, even in court or if the lights went out. He seemed to have some cash on "the hip" at the eleventh hour, do these guys? I guess we'll find out.
One final thought, I think JE may be the barometer here. I can't see him taking any crap and if he feels he has been marginalised, he'll be out before us.
Re: Administration imminent?
Pressman, and other members of the press, are fully aware of the situation and asked Liam for his comments today. They were told to expect a statement next week......now, I'm happy to be called cynical, but I'm not exactly holding my breath waiting for it!
R.I.P Dale....always and forever in our hearts
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Mad Dog
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Re: Administration imminent?
Interesting points Welsh. Your last thought I agree with and it will probably be the key indicator.Welsh wrote:One final thought, I think JE may be the barometer here. I can't see him taking any crap and if he feels he has been marginalised, he'll be out before us.
To say that I'm worried is an understatement.
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Bob's Bitch
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Re: Administration imminent?
That sounds very Ladak-ish. :( If it's not Monday morning then I'll be very concerned. I can't say I'm surprised though, these types of rumours have dogged the Club since the Trust took over in 2005.Diamondsforever wrote:Pressman, and other members of the press, are fully aware of the situation and asked Liam for his comments today. They were told to expect a statement next week......now, I'm happy to be called cynical, but I'm not exactly holding my breath waiting for it!
R.I.P Dale. We will never forget you.
AFC R&D - Member No. 46
AFC R&D - Member No. 46