1. The "new buyers" may save the day. Maybe we were told different things or perceived what we were told differently but I understood that things were still progressing but we may need to sort out HMRC first.
2. There maybe someone willing to loan the club the whole amount.
3. A group of supporters "loan" the club the money. We'd probably need a short adjournment of the hearing to get it in place but I suspect that would be possible. The easiest way of doing it would probably be purchasing season tickets - for 10 or 15 years. Trying to sort out repayment options would be more difficult. I'd also be willing to do it, so thats 4 or 5 of us, but if it happened there needs to be some assurance that we're not going to be in the same position 9 months down the line. An adjournment to the New Year should also see a fair steep increase in revenue - even in the short term, provided the weather doesn't screw everything up.
If option 3 is on the cards then it needs to be organised properly ie 5 poor sods don't hand over £15k between them but its not enough and Welling get wound up anyway.
Just think in 8 years that season ticket could be for Welling in the Premiership, what a bargain............
Option 1 - They want it but have moved the goalposts. Based on what I heard they are no longer the prefered option unless they revert to the previous verbal agreement.
Option 2 - Possible, but can we return that investment to them considering we are losing money week on week ?? Would still need a buyout prior to the end of the season or we'd be looking for another loan.
Option 3 - An idea, but no time to organise, we need to pay the money Tuesday so when we go on Wednesday its clear ... so unless we can find the people to wire the money in the next 24hours its not happening.
The buyers have dragged this out and now we have no time or other options, its not right. Mind you, the Hobbins should have had a Plan B ... perhaps option 3 above, ready to go two weeks ago in case ...
Barrie was smiling yesterday and I said to him "you look positive", he said "Im always positive" .... perhaps that part of the problem ??
If HMRC want their money back then they are going to accept an adjournment if it may lead to repayment. Our solicitors would presumably argue that new buyers had been found but.....
My worry is HMRC making another club an example to others. Look at Ilkestone and Chester.
It's ok getting their money back but the administrative costs of chasing tax debts must play a factor. As long as we have a firm deal/payment plan in place then hopefully an adjournment.
My worry is HMRC making another club an example to others. Look at Ilkestone and Chester.
It's ok getting their money back but the administrative costs of chasing tax debts must play a factor. As long as we have a firm deal/payment plan in place then hopefully an adjournment.
If (and that is a bif if) we get the adjournment the embargo will continue and the same players will be forced to soldier on without the impetus of fresh blood.
Hats of to them for all they have achieved in these difficult times.
My worry is HMRC making another club an example to others. Look at Ilkestone and Chester.
It's ok getting their money back but the administrative costs of chasing tax debts must play a factor. As long as we have a firm deal/payment plan in place then hopefully an adjournment.
As far as I can see we had a payment plan with HMRC agreed in August to pay the whole debt (which was at one point 97k) back by Dec 1st. Judging by the fact we still have n't payed this debt, or it seems got close to doing so, HMRC would be quite entitled to liquidate this club on wednesday. Below is a link to a news story on what happend to Kings Lynn. The similarities are chilling:
Plan A: I think they are unlikley to change their mind . Would really like for them to put up or shut up. Far, far, far too much time has been wasted already. CVAor administration is not an option as HMRC are the main creditor and they will not accept a part payment plan on principle. The fact that neither the hobbins, nor the potential new owners, nor our solicitors seem to know this worries me immensley.
Plans B and C: Both the same plan really just a question of who puts up the money- the 'Bromley based supporter' or a fans consortium. Obviously it would be easier logistically if the money came from a single source rather than several. I will put forward 3k to save the club either by way of a long term season ticket or loan but only if I see a sensible plan of action to take the club forward. This includes making the repayment of HMRC debt and a payment plan agreement to other creditors the highest priority- above that of playing and management staff's wages. Also an immediate and pressing need to search for the new ownership and investment that, I think, we all recognise.
-- Edited by Chris on Sunday 28th of November 2010 07:53:39 PM
-- Edited by Chris on Sunday 28th of November 2010 07:56:49 PM
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OOOOOOOOOOOOOOOOOOOOOOOOOOOhhhhhhhhhhhhhhh When the Wingssssss
Chris - I am sure that we all appreciate your offer to put up 3k to save the club. I would consider the same myself if we could have the guarantees that you are asking for. There is no way that this will happen in the next 24 hours or so.
We are down to the mystery man, who was away in Hong Kong, to save us.
Barrie mentioned some time ago about a man at the Bromley game who was willing to loan the club the money to pay the taxman. Does anyone have any further update on that ? I think I saw something mentioned in the last few days
What does seem clear - that if and it's a big if, we come through Wednesday, we will not be out of the woods. We are still likely to owe a lot of money to the Bromley man and we are still running at a loss. On top of that we have up to a 100k owed to others.
The chances of getting some-one in to buy the club and clear the debt, seems highly unlikley now. We shouldn't be surprised - the chances of getting anything back on your investment at conference level is virtually zero. Your only chance is to develop the ground. I wonder if the potential investors were put off by the lease agreement with Bexley.
I wonder if they hoped to develop the site for something other than football.
".......there will be many calls today and tomorrow and then a comment will be put on the Official site.........."
So if I translate that properly........
"..........we have no idea what is going to happen over the next few days. We haven't told you sweet fa for six weeks but we will put a "comment" up on the messageboard when we can be ar$ed........."
agreed Wingnut and the more info seems to come out(cheques bouncing) the worse things seem - maybe there were a few skeletons in the closet and they put the new investors off
fact is it looks like we will never know as we havent been told anything since this whole thing started
-- Edited by J on Monday 29th of November 2010 09:24:00 AM
