Are we headed for Administration?

[WeAreYellows49 0]

[quote user="Gibbo"]

You made me very unhappy for a few seconds there WeAreYellows49!  I thought an insect had found its way behind my monitor screen (did happen to a mate at work!).  I spent a good 30 seconds tapping the screen, now I feel like an idiot! :-D

[/quote]

lol sorry [:D]

[Mr.Carrow 376]

[quote user="Al Guido"][quote user="Dean Coneys Arse"]

Doomcaster says NCFC are paying the bills and adminstration is not an option.

I''ve heard (puts on tin hat) that the club owes thousands to the Police and CAN''T pay their bills.  Might tie in with the flights cock and bull story.

The club are headed to League 1, of that there''s no doubt.  At what point does the Board place the club in administration?  Haven''t checked but somewhere in the back of my mind March 27th rings a bell; if clubs go into administration before this date, the 10 points deduction is this season, otherwise next?

I think adminstration is just around the corner.............

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If the Club does go into administration then League 1 will be the least of our problems ........... descent into oblivion becomes the most likely scenario because I can''t see anyone buying and bailing the club  out ---- can you  ? Suddenly, all those "Delia Out" posters on this MB may look at Delia in a new light.

[/quote]

If we go into administration it will be 100% the fault of those who have had total power over every decision at the club for 12 years, not supporters who recognised the problems years ago and tried to alert people to them.  Have you been campaigning for those poor old bank chiefs to keep their jobs?

I think that a club which can guarantee 20,000 crowds no matter how poor the team are and infrastructure already largely in place (which has also largely crippled the club) would represent quite an attractive proposition.  I believe the worst that could happen would be that a local consortium would get the club on the cheap (Skipper/ the Turners?) and even if they have little money to invest i would much prefer to start afresh with a clean slate than continue to stick with a board who are proven failures and think that appointing Grant and Roeder are the only mistakes they have made.

When Gordon Bennett was appointed to sort out the mess left by Chase he described the club as "all fur-coat and no knickers" and set about drastically cutting back on extravegancies off the pitch- you couldn`t tell the difference when you went to see a game but he saved the club hundreds of thousands.  We need the same again IMO.

[Webbo118 0]

[quote user="jbghost"]

[quote user="Webbo118"]A clue can be found in last year''s accounts. The average time taken to pay debts (e.g. local suppliers) increased dramatically to, I believe, something like 71 days. This is frequently an indicator of trouble ahead.[/quote]

 

If you are usiong this as an indicator of financial stability then all is very rosey in the Norwich garden.

 

Paying bills in 71 days is much quicker than most businesses. Most big companies work on 90 day payment terms.

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The point that I am making is that it has increased dramatically from the previous year (circa 40 days). The trend is to take longer to pay the bills and this does not happen by accident.

 

[Webbo118 0]

The important thing is the trend rather than the actual length of time. In the case of NCFC, the length of time taken has increased dramatically from the previous year and this has presumably resulted from internal policy. In the example of the Company in the pharmaceutical industry, if it has always been four months and every party to the agreement is happy, there would appear to be no particular problem. Changes are the indicators and should set alarm bells ringing with those who are owed money.

[Webbo118 0]

[quote user="Webbo118"]The important thing is the trend rather than the actual length of time. In the case of NCFC, the length of time taken has increased dramatically from the previous year and this has presumably resulted from internal policy. In the example of the Company in the pharmaceutical industry, if it has always been four months and every party to the agreement is happy, there would appear to be no particular problem. Changes are the indicators and should set alarm bells ringing with those who are owed money.[/quote]

Sorry, should have said "healthcare"

[Lord Horn 0]

If we are headed for (relegation) and administration, let''s hope to God we remember to get the 10 points deducted before the last game of this season!

[lappinitup 629]

[quote user="Mr.Carrow"]If we go into administration it will be 100% the fault of those who have had total power over every decision at the club for 12 years, not supporters who recognised the problems years ago and tried to alert people to them.[/quote]Why would you feel the need to alert us to the possibility of administration whilst telling us that most years we were making a profit which should have been spent on players?

[PAFC 0]

[quote user="Lord Horn"]If we are headed for (relegation) and administration, let''s hope to God we remember to get the 10 points deducted before the last game of this season![/quote]

all teams who go into adminstration after 27th March 2009 will have their points deductions off the next seasons point tally

 

[Things are looking up 0]

Have covered this in an earlier thread Delia will call in the receivers if it''s certain that we face the drop before March 26th to ensure we take 10 point deduction this season.

[canary cherub 1]

[quote user="Things are looking up "]Have covered this in an earlier thread Delia will call in the receivers if it''s certain that we face the drop before March 26th to ensure we take 10 point deduction this season.[/quote]

Are you in the know?

And do you mean mathematically certain? because we almost certainly won''t be.

 

[canary cherub 1]

[quote user="mystic megson is back "][quote user="jbghost"][quote user="mystic megson is back "]

[quote user="BGGYPOS"]Surely if we did wouldn''t Deliars non interest free loans be worthless if she only gets a few pence to the pound or has she already syphoned it out?[/quote]

Of more immediate concern is what would happen to the season ticket money that 17,000 have already started shelling out.  Would it be ringfenced or used to pay off debts?  Does anyone know?

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In theory it all goes into the pot for the administrators to use to pay pff amy debt.

In practice though when teams go into administration season tickets are normally honoured by whoever buys the club from the administrators. If you have paid by direct debit all you would lose is what you have paid so far.

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Most fans wouldn''t want their money back but it''s supposed to be spent on next season''s team not paying off old debts accumulated by a failed regime. 

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Apparently there could be a way to protect season ticket money by putting it into an Escrow account.  Are there any accountancy geeks [8-|] lurking out there who can enlarge on this?

 

[Things are looking up 0]

IF we could still stay up mathmatically it would certainly mean that we would win all our remaining games after the 26th just to rub salt into the wound. My source is reliable but of course I can''t name names.

[The Butler 0]

There is absolutly no reason for the club to go into administartion if we are relegated

The 17000 renewals have part seen to that. Turnover will  be very similar but costs would be drastically reduced.

The catering and outside interests will still make money.

So why are you all adding 2 +2 and reaching -5

Relegation does not equal administration. Just a BL****DY mess[:''(]

[canary cherub 1]

[quote user="The Butler"]

There is absolutly no reason for the club to go into administartion if we are relegated

The 17000 renewals have part seen to that. Turnover will  be very similar but costs would be drastically reduced.

The catering and outside interests will still make money.

So why are you all adding 2 +2 and reaching -5

Relegation does not equal administration. Just a BL****DY mess[:''(]

[/quote]

On the face of it I totally agree.  Based on what we know about the club''s finances it should be easier to balance the books in League 1.

But there are some "known unknowns".  For instance, do any of the club''s loans have clauses which come into effect upon relegation to League 1?

There are probably some "unknown unknowns" as well.

 

[Things are looking up 0]

Balancing the books is all Delia has been worrying about, that''s why instead of investing in players in the prem she just paid off a few loans to lessen the debt when we came down again. Club has been asset stripped over a long period of time.