I think you better stick a bank account up Kev... and a phone number. I applaud your efforts and think you are bang on. If 5 10 20k is raised they will be hard bastards if they wind the club up.

Yes, needs to be on Weds we say we can wire "x" within 48hrs, will that be sufficient to get an adjournment ?? otherwise please shut us down now before we lose more. 99% of the time they will take a reasonable offer.

You need an account and pledges and have an amount to offer them. Time is against you. Whatever you raise could be enough to get a deferall if the club agree to slashing the budget and sort a payment plan which should have happened 4 months ago.

Plan b is a short term loan.

But then you need to slash the budget to 3k IMMEDIATELY until you can increase crowds, you also need the supporters to be appointed to a board of directors and install a commercial department and a mediating department to reduce the non cricital debt, You also need to get the community section on the road and creating awareness. The club are incable of commercially bringing in revenue streams and letting them get on with it has led to us still up a creek 1 day from winding up day.

If plan b is loan 50k and pay back 70 and let the club carry on going over budget and losing a grand a week.... then turn the lights out now and end the agony.

The Club would need a 7 or 14 day adjournment and then those of us who have said we'll donate would have the time to get the money in. If it happened that way I'd suggest it went to WSU so if things went horribly wrong we'd be refunded (ie if the amount raised was insfufficient to prevent the Club from being wound up). It sounds like there's potentially enough people to raise at least £20-30k which would buy time if nothing else. I'm not bothered about being a vice-president I am bothered about Welling United.

If wound up we get 7days anyway ... so this needs action this week, money held in trust by WSU or the solicitors, and if things are going badly on Weds we raise this issue and offer to pay X amount .... only thing is if wound up we need the 57k in 7 days ... whereas if we raised 20k in next 36hours it might prevent the winding up ...

What do you think is more probable ... 20k in 36hours or 57k in 36hours plus 7days ??

Not at all Andrew, Some people wont have "delivered" at the moment as they arent throwing money away if nothing changes.

Ok so you pay off 57k you still owe 100k and you have no say.

Wheres the structure or bang for your buck?

'If wound up we get 7days anyway' - are you sure about that Kev?

chelwing wrote:

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We may need this money to form a new club.

Many of us said all along that they could have done a share's issue - they could have asked for loan from each of us - £250 each and then a draw each week to see who gets their 250 back. This and many other ideas were put forward and ignored.

This could have been sorted ages ago and should not be going to the wire. Why would we want to bail out the club and then be back in a similar situation within months.

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i think you may be right - Welling United has to die so a better more stable club can emerge from the flames

(dont shoot me down as is an interesting point that has been made)

 

J wrote:

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i think you may be right - Welling United has to die so a better more stable club can emerge from the flames

(dont shoot me down as is an interesting point that has been made)

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The more i hear it the more the idea sounds good to me. I do want the club to survive though!

stafford wrote:

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At the risk of laughing at the graveside, given our singular inability to organise anything properly as a club I see our single best hope in being that we can't even go out of business without getting that wrong as well!

-- Edited by stafford on Tuesday 30th of November 2010 09:54:15 AM

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Aha the two negatives equal a positive principle! Grounds for optimism there i think :D

 

When the club announce what happened at the HMRC meeting, the headline should be 'It's snow joke' :D

I think there may be about 10k left that has not been handed to the club yet. Barry mentioned it on Saturday although he said he did not know how much was in the account. Russ said that he had been told.

I could be totally wrong. I am sure that somebody knows and can update us.

Agreed

Kevin was right, let the club pay the money from savings or loans if they are serious. The appeal money shouldnt go on a lost cause.

We still have no more news from yesterday, i now couldnt give a toss about risking a deal going t1ts up.

If i could scream at the start slash the budget and get benefit games (The easiest things to do to make big money) why cant their legal people? We sadly just did nothing except do a bob geldof and say give us all your money and give us it now.

Whos the investors how much have they got what are they offering, what have the HMRC said to our chairman other than the "Get stuffed" on the chelmsford forum alledgedly

How much have the club got to offer HMRC tomorrow.

Have the investors offered pennies in the pound?

Are the investors going tomorrow?

Whats our plan b and gamebreaker tomorrow?

Might be an idea to go today and get a hotel as weather could be even worse tomorrow and you could miss the hammer go down... THAT WOULD BE THE CHERRY ON THE CAKE.

A club with finnan, townsend , barron on their books in the past couldnt get a gentlemans evening with those turning up or a benefit game?

We said we were crap and still never put in structure, we never chased avenues, we relied on the three musketeers who we havent a clue who they were to pay it offm but we got strung along and then bent over.

this feels like mortal kombat to me and someone has just said "Finish Him"



-- Edited by JgFc on Tuesday 30th of November 2010 12:25:06 PM

Its indefensible to have paid no money to HMRC since the first meeting off the debts, driven no fundraising campaigns, given no news for months other than negotiations are ongoing and then still be here 24 hours from the gallows and no one has the first clue of whats happening.

The investors seem just as clueless and just want what they can get before dropping us.

Any of you that see us existing tomorrow must know something i dont.


-- Edited by JgFc on Tuesday 30th of November 2010 12:51:09 PM

As regards a possible CVA - I know the existing owners cannot move to one, but could the prospective new owners launch a CVA if they settled the HMRC debt?
However, if the remaining debtors are "friendly" there seems to be no point in having a CVA.  But if the choice is a CVA or no club I know which option I would take - albeit extremely reluctantly and with a very heavy heart.

Agreed 57k the investors had time to see accounts assets ? then chose to go right to end before outlining there proposals sadly thats business.

Tom, there are a hell of a lot of things that we think the club should, or should not have done in recent months.  I have put a few bob in and so have you and a lot of supporters.  Perhaps we should have been more vociferous while these takeover talks were going on (I know you were!) so that the supporters had a takeover plan and more money to back it.  If I remember, there were an awful lot of exhortations to "stay positive".  But none of this helps - it does not alter the position we are in now.  If you read my previous post you will see that I wanted the HMRC debt to be paid before a CVA is entered into. (If a CVA can be avoided all the better). I want the club to play at the highest level possible, and that is not the Kent Amateur or the Kent league.  But if that is the only option so be it - perhaps we could take over E&B&Q!