Colney

[deano 0]

My brothers friend plays for the academy (bit far fetched but its true) and apparently if we dont get promoted next year then the club is going to sell the training complex and downgrade. Apparently if this happens a lot of the youth players will leave. All sounds a bit ominous to me, hopefully it''s not true, but if it is then the financial situation does look pretty dire.

[Butler 0]

[quote user="deano"]My brothers friend plays for the academy (bit far fetched but its true) and apparently if we dont get promoted next year then the club is going to sell the training complex and downgrade. Apparently if this happens a lot of the youth players will leave. All sounds a bit ominous to me, hopefully it''s not true, but if it is then the financial situation does look pretty dire.[/quote]what do you expect - no money sell what youve got to make ends meet - ticket boycott - good idea!

[SNAP 0]

Unlikely - i think you''ll find that Colney is used to guarantee the loans from D & M. If this is the case selling it for the club''s benefit would not be in their best interests and, whatever one''s views on them, they don''t do things ahat are not in their best interests.

[McNamees attitude 0]

[quote user="deano"]My brothers friend plays for the academy (bit far fetched but its true) and apparently if we dont get promoted next year then the club is going to sell the training complex and downgrade. Apparently if this happens a lot of the youth players will leave. All sounds a bit ominous to me, hopefully it''s not true, but if it is then the financial situation does look pretty dire.
[/quote]

I''ve heard the same thing cos my best Mate''s Mum works at Staples in Norwich and one of her Workmates lives next door to the Head Groundsman at Colney. It does sound incredibly farfetched but remember the last time you all said I was lying! Man U friendly? I told ya that first!

[norfolkchance1 0]

i rekon we would go in to adim if thats the case

[Desert Fox 0]

Barryevans,

1. We are a long way from administration - look at the accounts. If we dont go up, it will start to get tighter, but I would assume that Delia would simly write a cheque to keep her invetsment alive as adminsitartion woud mean her losing everything.

2. I recall that Colney was only given chnage of use planning permission (from agricultural land) on the basis of covenants. This has the practical effect of meaning that the alternative use value is not significant. Who else in norfolk needs a trainbing ground and the cost of conversion back to farming would negate much of the underlying value.

 

[Mello Yello 2,277]

I''ve heard a local farmer entrepreneur, is going to buy Colney and fill it full of vegetables.....Oh, hang on a minute.....Why doesn''t he harvest what''s already there first? [:|]

 

[Grif 0]

[quote user="Mello Yello"]

I''ve heard a local farmer entrepreneur, is going to buy Colney and fill it full of vegetables.....Oh, hang on a minute.....Why doesn''t he harvest what''s already there first? [:|]

 

[/quote]

Haha quality post, made me laugh.

[Tangible Fixed Assets anyone? 0]

[quote user="Mello Yello"]

I''ve heard a local farmer entrepreneur, is going to buy Colney and fill it full of vegetables.....Oh, hang on a minute.....Why doesn''t he harvest what''s already there first? [:|]

 

[/quote]

Hang on a minute Mello, you have stumbled on a financial solution......we apply for EU. payments for growing zillions of acres of olives!

[Desert Fox 0]

TFAA,

Anything that diversifies us out of football would be viewed positively by the club. Hey, why not take this to a logical end point and turn Carrow Road in to alottments!

[whoareyou? 0]

[quote user="Desert Fox"]

Barryevans,

1. We are a long way from administration - look at the accounts. If we dont go up, it will start to get tighter, but I would assume that Delia would simly write a cheque to keep her invetsment alive as adminsitartion woud mean her losing everything.

 

 

[/quote]

This isn''t necessarily so.

Going into administration has more to do with actual cashflow than the value of a balance sheet. And cashflow is something we are very short of!

[Wembley_Canary 0]

Doesn''t sound that far fetched to me, the longer we stay in League 1 the closer we get to admin.

[I am a Banana 0]

[quote user="MCWILL"]

[quote user="deano"]My brothers friend plays for the academy (bit far fetched but its true) and apparently if we dont get promoted next year then the club is going to sell the training complex and downgrade. Apparently if this happens a lot of the youth players will leave. All sounds a bit ominous to me, hopefully it''s not true, but if it is then the financial situation does look pretty dire.
[/quote]

I''ve heard the same thing cos my best Mate''s Mum works at Staples in Norwich and one of her Workmates lives next door to the Head Groundsman at Colney. It does sound incredibly farfetched but remember the last time you all said I was lying! Man U friendly? I told ya that first!

[/quote]

we will believe you the 1st time... but not the 2nd!

[Desert Fox 0]

Whoareyou?

I am no supporter of the Board, but I am afriad that I dsiagree with you. Analyse the accounts and then adjust these for the marginal cost/revnue implications of League 1 and we will be ok next year. The big if is whether season ticket revenues will hold up and at present there does not seem to be a mass wave of cancelleations. However, the next year after is a different kettle of haddock altogether. This is why promotion is so critical this year and worth gambling for.

I have quite a bit of experience of the insolvency indutsry and the only way that adminsitration is ever going to be likley is if the club cant aford the structured debt payments and interest. Most of this debt is not repayable in the short term and the interest bill is not su huge that it is beyond the means of Delia to cover this. At the very end of the day, she has the choice of keeping pumping in some cash each year or risk losing her investment, so I would say adminstration is at least two years away and possibly never likley to happen.

As I said, I think the Board stink, but I will not let this prejudice my objectivity.

[Mr. Bump 0]

MCWILL is a convicted liar, and deano is his alter-ego.

[whoareyou? 0]

[quote user="Desert Fox"]

Whoareyou?

I am no supporter of the Board, but I am afriad that I dsiagree with you. Analyse the accounts and then adjust these for the marginal cost/revnue implications of League 1 and we will be ok next year. The big if is whether season ticket revenues will hold up and at present there does not seem to be a mass wave of cancelleations. However, the next year after is a different kettle of haddock altogether. This is why promotion is so critical this year and worth gambling for.

I have quite a bit of experience of the insolvency indutsry and the only way that adminsitration is ever going to be likley is if the club cant aford the structured debt payments and interest. Most of this debt is not repayable in the short term and the interest bill is not su huge that it is beyond the means of Delia to cover this. At the very end of the day, she has the choice of keeping pumping in some cash each year or risk losing her investment, so I would say adminstration is at least two years away and possibly never likley to happen.

As I said, I think the Board stink, but I will not let this prejudice my objectivity.

[/quote]

The point i am making is that administration comes when a company can no longer repay it''s debts, it has nothing to do with a balance sjeet value. The reason the club''s balance sheet bottom line looks Ok is due to the fixed assets it holds, particularly in land and buildings...but as things stand in the current world climate, land and buildings are not worth anything much at all and that''s if you can find a buyer and i can''t see any of that changing soon!

I''ve mentioned on here before that the crunch will come in December 2010 when the club has to repay the next £2.5 million loan repayment. In League One we have not a chance in hell of making/raising that sort of money and as things stand we have no players worth anything like that either. So that is when the club may well be in deep trouble!

[Desert Fox 0]

Whoareyou,

I fully undertsood your point, all I am trying to say is that the club has better liquidity than you might think, especially if it it takes the knife to its overheads and player wages, which looks likely to be the case this year. The problem will come if we dont get promotion and the 18,000 renewals falls to something like 10,000. Even in this event, adminsitration is no certainty so long as the majority shareholders have the stomach to keep investing simply in order to preserve their investment. If they can hang in long enough, they can sell the second phase land and clear down some of the debt.Things are grim for us at present, but we have a long way to go before they throw the towel in I am afriad.