Share Transfers Agreed/Cooling off period

[Hibrandenburg]

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Think it was the Weimar Republic that built the majority of the autobahns but Adolf and his pals claimed the glory....

Not true, they might have had the idea but it was the NS government that actually built them.

Before the summer Olympics in Berlin there was approximately 100km of Autobahn in Germany compared to over 3700km prior to the Russian offensive in 1941.

[AltheHibby]

Dont mention "Russian offensive" or you'll start them off on Salmond again!

Also, I have to register offence about the comparison of Collins and Hitler - surely the removal of his shirt to show off his six pack makes Collins more like Putin?

I'll fetch me coat...

[Peevemor]

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Surely there is no way they can be liquidated now?

The sales of the WW1 strip are hitting record numbers I hear

It's funny you should say that.

Generic Adidas strip + change of club crest + no main sponsor = all put in place to continue even though legally they're not the same club/company/entity.

[Keith_M]

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The Nazis weren't all bad, Hitler did build the Autobahns.

And Volkswagen Beetles........

[Keith_M]

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The last I heard, they were suing Collyer Bristow, Craig Whyte's lawyers, for £25m.

If that claim is successful, it will go a long way to appeasing the creditors and justifying BDO's fees.

So, basically nothing back for the creditors so far. If I were them, I wouldn't be holding my breath.

[CropleyWasGod]

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So, basically nothing back for the creditors so far. If I were them, I wouldn't be holding my breath.

I don't think they have been holding their breath. However, if there's a chance of £25m, and clearly BDO think there is, then they have to go for it.

[Famous Fiver]

CWG

Thanks for clarifying my query re Bidco and FOH. In view of the report tha t4 sets of lawyers are involved, FOH is to stump up to fund working capital until administration is exited, with the prospect that this money would be lost forever if things drag on, somebody,somewhere is going to have to have deep pockets to keep the whole thing afloat. This saga has a long way to run. Don't write off liquidation. It is a very real prospect.

[CropleyWasGod]

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CWG

Thanks for clarifying my query re Bidco and FOH. In view of the report tha t4 sets of lawyers are involved, FOH is to stump up to fund working capital until administration is exited, with the prospect that this money would be lost forever if things drag on, somebody,somewhere is going to have to have deep pockets to keep the whole thing afloat. This saga has a long way to run. Don't write off liquidation. It is a very real prospect.

I don't write anything off. Too long in the tooth for that.

Whilst time was, and still is, not their friend, I took BJ's assertion about there being enough cash to see out April with a degree of scepticism. He is an accountant, and therefore prone to excessive bouts of conservatism. The end of the season would have been my estimate.

Whilst I accept that FOH will, even if they have to change their own rules, hand over enough cash to keep things going, there are 2 limiting factors at play:-

1. they have, what, £1m just now? Would they be prepared to hand it all over? How long would that last?

2. given that £1m was earmarked for the new regime's working capital, what would AB's attitude be to the above?

[Jim44]

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The Nazis weren't all bad, Hitler did build the Autobahns.

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Think it was the Weimar Republic that built the majority of the autobahns but Adolf and his pals claimed the glory....

Godwin's law rears it's ugly head again in this thread.

[Weststandwanab]

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CWG

Thanks for clarifying my query re Bidco and FOH. In view of the report tha t4 sets of lawyers are involved, FOH is to stump up to fund working capital until administration is exited, with the prospect that this money would be lost forever if things drag on, somebody,somewhere is going to have to have deep pockets to keep the whole thing afloat. This saga has a long way to run. Don't write off liquidation. It is a very real prospect.

So I am not alone - welcome.

[Ozyhibby]

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I don't write anything off. Too long in the tooth for that.

Whilst time was, and still is, not their friend, I took BJ's assertion about there being enough cash to see out April with a degree of scepticism. He is an accountant, and therefore prone to excessive bouts of conservatism. The end of the season would have been my estimate.

Whilst I accept that FOH will, even if they have to change their own rules, hand over enough cash to keep things going, there are 2 limiting factors at play:-

1. they have, what, £1m just now? Would they be prepared to hand it all over? How long would that last?

2. given that £1m was earmarked for the new regime's working capital, what would AB's attitude be to the above?

On point 2, surely as long as the money is used for working capital, it doesn't matter if it's pre or post Budge taking over?

[CropleyWasGod]

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On point 2, surely as long as the money is used for working capital, it doesn't matter if it's pre or post Budge taking over?

The agreement between Bidco and FOH is that it is given to the new regime.

If they change that, and it's given to the current situation, there is no guarantee that it would save the club. Even if it does get them over the line, that leaves the problem of what do they use for working capital for next season.

[Geo_1875]

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The agreement between Bidco and FOH is that it is given to the new regime.

If they change that, and it's given to the current situation, there is no guarantee that it would save the club. Even if it does get them over the line, that leaves the problem of what do they use for working capital for next season.

Could be that Budge (or others) is putting more in than previously announced as the planned handover to FoH seems to keep disappearing over the horizon. Originally 3 years but now anywhere from 3 to 6 years for FoH to pay back the advance.

[worcesterhibby]

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Bit like Collins with Mowbray's team

To be fair, Kurt von Schleicher, the chancellor of the Weimar Republic, didn't piss off to Celtic at the first opportunity..he was ousted and assassinated. Still that's probably less depressing that ending up as a failure at Middlesborough !

[Famous Fiver]

CWG

My view entirely. If tomorrow's funds are used to meet todays costs how are they going to sign Skacel, Thomson, Boyd et al and increase present squad wages to prevent them being picked off? and run the club? That will have to be faced only after they negotiate exiting administration There is no certainty they are going to get that far.

[greenpaper55]

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The agreement between Bidco and FOH is that it is given to the new regime.

If they change that, and it's given to the current situation, there is no guarantee that it would save the club. Even if it does get them over the line, that leaves the problem of what do they use for working capital for next season.

But Locke says that he only needs five players, what are they using for capital ?.

http://www.edinburghnews.scotsman.co...gets-1-3393414

[Deansy]

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CWG

My view entirely. If tomorrow's funds are used to meet todays costs how are they going to sign Skacel, Thomson, Boyd et al and increase present squad wages to prevent them being picked off? and run the club? That will have to be faced only after they negotiate exiting administration There is no certainty they are going to get that far.

Have a jambo mate (a decent one - not happy at how things operate at the PBS and is ashamed of how low his club has sunk) who tells me an 'Edinburgh businessman' has/will be paying 'The Nose's wages !

[GlasgowHibee]

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But Locke says that he only needs five players, what are they using for capital ?.

http://www.edinburghnews.scotsman.co...gets-1-3393414

Kit sales, season ticket sales, sponsorship money? Or am I being too naive.

[Weststandwanab]

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But Locke says that he only needs five players, what are they using for capital ?.

http://www.edinburghnews.scotsman.co...gets-1-3393414

Has he asked Craig Levien though ?

[CropleyWasGod]

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Kit sales, season ticket sales, sponsorship money? Or am I being too naive.

The £1m from FOH would be part of the budget.

[EK_Hibs]

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Has he asked Craig Levien though ?

Are the yams appointing Harry Potter again?

[Geo_1875]

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But Locke says that he only needs five players, what are they using for capital ?.

http://www.edinburghnews.scotsman.co...gets-1-3393414

But if they're signing free agents there's no need for capital, only running costs to cover wages.

[CropleyWasGod]

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But if they're signing free agents there's no need for capital, only running costs to cover wages.

That is working capital

They need money for the summer for wages, when there is nothing coming in until they start selling ST's.

[Ozyhibby]

Until they are officially out of administration they won't be signing anyone, they won't be selling a single season ticket or any significant sponsorship deals. They are in limbo.
I don't think they will have long to wait but the longer the better.
If their season tickets are cash only then that will have a negative effect on sales especially if they can't get them on sale till a couple of weeks before the season starts.
:-)

[Weststandwanab]

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Are the yams appointing Harry Potter again?

That is my understanding.

[Leithenhibby]

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That is my understanding.

Fingers crossed...... Now that would be funny. :-)

[jonty]

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The Nazis weren't all bad, Hitler did build the Autobahns.

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Think it was the Weimar Republic that built the majority of the autobahns but Adolf and his pals claimed the glory....

Can he claim the VW Beetle then?

[Hibrandenburg]

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Can he claim the VW Beetle then?

Don't think so. If I recall correctly VW was bought by a British Army officer at the end of the war for just 1 Mark. So VW has some British roots.

[Phil D. Rolls]

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Have a jambo mate (a decent one - not happy at how things operate at the PBS and is ashamed of how low his club has sunk) who tells me an 'Edinburgh businessman' has/will be paying 'The Nose's wages !

Tears end in.

[greenginger]

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Have a jambo mate (a decent one - not happy at how things operate at the PBS and is ashamed of how low his club has sunk) who tells me an 'Edinburgh businessman' has/will be paying 'The Nose's wages !

Did he ask if this was to be a legitimate taxed salary or an under the table , private deal , tax-free sort of payment like the last one he agreed with Vlad.