Re: Ownership and twists : Tue Mar 25, 2014 12:39 pm  

Derwent wrote:

According to the trade press her purchase price bid was the lowest of all the bids. That's no good to the administrator, he doesn't care if she has £100m to invest in the club after its purchased, its the cash he can realise now for the creditors that is his priority.

This is missing the point, though. A bid only remains a bid for as long as the potential buyer remains in the frame. Once the RFL fsck them off, or else they fsck off of their own volition, they are no longer a bidder and theirs is no longer a bid.

All Mandy Koukash therefore needs to do is wait until the RFL fsck off every other bidder, so she remains the only game in town, and then Mr. Wilson will have no alternative but to accept her bid.

That will leave just the RFL to contend with, and I suspect the Koukashs are more than able to hold their own with them.

Clearly, it is better for the administrator to accept a bid of around £300K than it is to liquidate. Else he would have liquidated. I'm not sure what on earth "assets" there might be to "realise" but based on that figure, it clearly is broadly comparable with the worth of a carrot.

Re: Ownership and twists : Tue Mar 25, 2014 12:41 pm  

Derwent wrote:

Not neccessarily. If the administrator could realise more money by selling off the assets individually than she has offered to purchase them for then he is under no obligation to sell as a package. Its an unlikely scenario but not impossible that he may just decide to liquidate and put everything up for auction.

Apart from the Coral what other assets are there..?? can't count the goal posts as the RFL have already moved them (numerous times)

Re: Ownership and twists : Tue Mar 25, 2014 12:45 pm  

herr rigsby wrote:

I wish he would go lie between the lines

Why? Because he raises too many uncomfortable issues, rather than a simplistic blame everyone else view? He might not be correct with everything he says, who knows, but it is certainly interesting.

Re: Ownership and twists : Tue Mar 25, 2014 12:46 pm  

Ferocious Aardvark wrote:

This is missing the point, though. A bid only remains a bid for as long as the potential buyer remains in the frame. Once the RFL fsck them off, or else they fsck off of their own volition, they are no longer a bidder and theirs is no longer a bid.

All Mandy Koukash therefore needs to do is wait until the RFL fsck off every other bidder, so she remains the only game in town, and then Mr. Wilson will have no alternative but to accept her bid.

That will leave just the RFL to contend with, and I suspect the Koukashs are more than able to hold their own with them.

Clearly, it is better for the administrator to accept a bid of around £300K than it is to liquidate. Else he would have liquidated. I'm not sure what on earth "assets" there might be to "realise" but based on that figure, it clearly is broadly comparable with the worth of a carrot.

Obviously that is better than nowt, but can the adminstrator change the criteria if that were needed?

Re: Ownership and twists : Tue Mar 25, 2014 12:46 pm  

Derwent wrote:

According to the trade press her purchase price bid was the lowest of all the bids. That's no good to the administrator, he doesn't care if she has £100m to invest in the club after its purchased, its the cash he can realise now for the creditors that is his priority.

If thats the case then why is he refusing to allow bidders to improve their bids, as mrs koukash wanted to do. Surely a bidding war with club going to highest bidder is best financial result for the creditors?.

Re: Ownership and twists : Tue Mar 25, 2014 12:47 pm  

Ferocious Aardvark wrote:

This is missing the point, though. A bid only remains a bid for as long as the potential buyer remains in the frame. Once the RFL fsck them off, or else they fsck off of their own volition, they are no longer a bidder and theirs is no longer a bid.

All Mandy Koukash therefore needs to do is wait until the RFL fsck off every other bidder, so she remains the only game in town, and then Mr. Wilson will have no alternative but to accept her bid.

That will leave just the RFL to contend with, and I suspect the Koukashs are more than able to hold their own with them.

Clearly, it is better for the administrator to accept a bid of around £300K than it is to liquidate. Else he would have liquidated. I'm not sure what on earth "assets" there might be to "realise" but based on that figure, it clearly is broadly comparable with the worth of a carrot.

But you don't know what purchase price Mrs Koukash offered. Yes I'm sure £300k would be worth more than the totality of the sellable assets, but £30k might not be. There will be a plethora of assets that the administrator could sell ranging from office equipment (PC's, photocopiers etc), furniture, bar and hospitality area fixtures and fittings, stock (bar, food, merchandise, medical etc), catering equipment, training and gym equipment, grounds maintenance equipment etc etc etc

Unless you know how much Mrs Koukash bid, and how much the assets would realise under liquidation, then you can't definitively state that the administrator would be compelled to sell to her.

Re: Ownership and twists : Tue Mar 25, 2014 12:50 pm  

inside man wrote:

Pmsl @ petition.

It's currently got 277 more signatures than that open letter from outraged of Sandal.

Re: Ownership and twists : Tue Mar 25, 2014 12:52 pm  

It's the same selling anything until the money is in the bank it would be foolish to reject any bid.

I know the good Dr has put on twitter that he has not heard anything. But they only rejected Lamb last night by the sounds of it, so all bids are still up in the mix.

Re: Ownership and twists : Tue Mar 25, 2014 12:54 pm  

Just been told by a connected source that PA consortium are the front runners, in which case its definitely Championship next season. Also, heard that T&A are running a big historical piece on Thursday covering the decline since the beginning of the Hood days and how we got where we are. Apparently RFL don't stack up too well in it.

Re: Ownership and twists : Tue Mar 25, 2014 12:58 pm  

2 things I've been wondering:

1. How did Omar lose hundreds of thousands on the bars when he didn't actually pay the suppliers for any beer?

2. How many players are now playing with injuries that would normally rule them out and kids that aren't ready yet just to field a team?

IMO player welfare is now becoming a bigger concern than the competitiveness of the side as the 'integrity of the competition' is becoming damaged.

If the club can't fulfill it's fixtures for whatever reason the consequences would be bad for the entire sport.