Forest raiding Leeds

Jim D · Mar 24, 2014

With Warnock on his way to Forest and Leeds apparently penniless now their saviour has been rejected by the FA I see that Peltier has signed on loan until the end of the season. Will McCormack be next to go in the firesale?

hans kraay fan club · Mar 24, 2014

Paddy Kenny surely. Its in Warnock's contract terms.

#JuniorLewis

edna krabappel · Mar 24, 2014

Jim D said:
With Warnock on his way to Forest and Leeds apparently penniless now their saviour has been rejected by the FA I see that Peltier has signed on loan until the end of the season. Will McCormack be next to go in the firesale?

I suspect it's not beyond the realms of possibility that they'll go into administration again.

Still. At least all this means Paddy Kenny knows where he'll be playing next season.

Kumquat · Mar 24, 2014

I've always disliked the phrase "going into administration". It's meant as a very demeaning term but administration is a much harder job than people imagine. I'd like to see the Alan Sugars of this world try their hand at balancing the competing diaries of top executives. It's a real skill.

Green Cross Code Man · Mar 24, 2014

edna krabappel said:
I suspect it's not beyond the realms of possibility that they'll go into administration again.

That would put them on 37 points. Five points above relegation. I suppose the dream scenario of palace, Pompey and Leeds going down is too much to hope for?

edna krabappel · Mar 24, 2014

hans kraay fan club said:
Paddy Kenny surely. Its in Warnock's contract terms.

#JuniorLewis

Dammit. Beaten to the post.

Mellotron · Mar 24, 2014

McCormack on a totally justifiable emergency loan signing. Forest NEED a 9th striker.

BensGrandad · Mar 24, 2014

Doesnt the loan window close Thursday.

LamieRobertson · Mar 24, 2014

Mellotron said:
McCormack on a totally justifiable emergency loan signing. Forest NEED a 9th striker.

If only they can...then Peltier and Kenny could be there entire defence

GingerBeerMan · Mar 24, 2014

Can someone explain administration to me? It seems to be bandied about a lot, "yeh we have debts lets just go into administration". But what does it really mean? Do all their debts get wiped and they can go again with a small points deduction? Doesn't seem like a big enough punishment to me, especially if it's happened multiple times (to the same club) in the recent past.

The Camel · Mar 24, 2014

Can't imagine Forest will go for Paddy Kenny.

Isn't Darlow supposed to be the new Peter Shilton?

Dougie · Mar 24, 2014

Green Cross Code Man said:
That would put them on 37 points. Five points above relegation. I suppose the dream scenario of palace, Pompey and Leeds going down is too much to hope for?

It could still happen , you missed out brighton staying down btw .

Green Cross Code Man · Mar 24, 2014

Dougie said:
It could still happen , you missed out brighton staying down btw .

The reason I missed that out is because I am ambivalent about whether we are promoted or not.

Acker79 · Mar 24, 2014

GingerBeerMan said:
Can someone explain administration to me? It seems to be bandied about a lot, "yeh we have debts lets just go into administration". But what does it really mean? Do all their debts get wiped and they can go again with a small points deduction? Doesn't seem like a big enough punishment to me, especially if it's happened multiple times (to the same club) in the recent past.

As best as I understand it...

When a club cannot pay its debts it will enter administration (sometimes as a result of a winding up order, where someone/company that is owed money by the club take them to court to get the business shut down as it is not paying its debts, sometimes voluntarily).

When they enter administration an administrator is put in charge of everything except team management. He can be appointed by the club's owners, the people who are owed money by the club, or by the court. It is his job to settle the debts as best he can. This can involve selling players, or getting them to agree new deals at a lower level, selling other assets, negotiating repayment plans, selling the club or portions of it if possible.

Sometimes the person buying the club will agree to pay all debts (as I believe happened with Southampton). But often you find there are prospective buyers waiting in the wings for the administrator to negotiate deals with the people owed money, settling those debts at a reduced rate, then they buy the club after those debts have been "settled".

I think that sometimes the buying consortium will end up being the current owner through another company, or other business chicanery. I believe one method is for the club to enter administration voluntarily, giving them the opportunity to appoint an administrator who will then view them as the ideal buyers, after the debts are settled (at Xp in the pound).

portslade seagull · Mar 24, 2014

Aren't there any players we could nick/borrow of Leeds now their situation has taken a turn for the worse ... ha,ha

Superphil · Mar 24, 2014

Warnock may not go to Forest after all, see SSN

seagullsovergrimsby · Mar 24, 2014

If Cellino has pumped £7M into the club as a loan but now wants his money back and this month's wages are due at the end of the week (another £2M) who is going to settle all this up ?

drew · Mar 24, 2014

I think the important thing to point out is that when you enter administration, the existing owners of the club are relinquishing control and therefore losing control of their investment. Plus of course, in football, enter admin and lose 10pts.

Acker79 said:
As best as I understand it...

When a club cannot pay its debts it will enter administration (sometimes as a result of a winding up order, where someone/company that is owed money by the club take them to court to get the business shut down as it is not paying its debts, sometimes voluntarily).

When they enter administration an administrator is put in charge of everything except team management. He can be appointed by the club's owners, the people who are owed money by the club, or by the court. It is his job to settle the debts as best he can. This can involve selling players, or getting them to agree new deals at a lower level, selling other assets, negotiating repayment plans, selling the club or portions of it if possible.

Sometimes the person buying the club will agree to pay all debts (as I believe happened with Southampton). But often you find there are prospective buyers waiting in the wings for the administrator to negotiate deals with the people owed money, settling those debts at a reduced rate, then they buy the club after those debts have been "settled".

I think that sometimes the buying consortium will end up being the current owner through another company, or other business chicanery. I believe one method is for the club to enter administration voluntarily, giving them the opportunity to appoint an administrator who will then view them as the ideal buyers, after the debts are settled (at Xp in the pound).

el punal · Mar 24, 2014

Green Cross Code Man said:
That would put them on 37 points. Five points above relegation. I suppose the dream scenario of palace, Pompey and Leeds going down is too much to hope for?

It's not beyond the realms of possibility that dear old Pompey could be playing Eastleigh and Gosport Borough in the near future - now that is something to look forward to.

ManxSeagull · Mar 24, 2014

From what I understand a club have to go into administration by 27th March otherwise the points are carried over to next season if they go into administration after this date.

This I believe is to stop clubs being safe from relegation by taking the 10 point deduction knowing they cannot be relegated.

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