Re: Future.. how soon till we know : Wed Oct 10, 2018 5:25 pm  

Alan wrote:

That might suggest that the club has identified a sustainable way forward and is activating it.

I am absolutely staggered by this rumour (I won't call it news as it is not official, not because I don't believe it). It's not so much that the club is in a position to offer a contract (although that is somewhat surprising), but that there is someone out there who would even give Leigh a moment's consideration given the debacle we are currently experiencing! They must have been given some pretty firm assurances that they we in a position to offer contracts and will remain so. It also seems to fly in the face of trying to argue that the club cannot afford to meet its existing contractual commitments when it's entering into new ones.

Anyway, it surely implies that DB is staying on, unless some mystery wealthy backer has suddenly emerged from the woodwork!

Re: Future.. how soon till we know : Wed Oct 10, 2018 5:33 pm  

All this true meeting yesterday and outcome is only rfl money will be used on players so we will only have who we can get unless we get someone wins euro millions

Re: Future.. how soon till we know : Wed Oct 10, 2018 5:58 pm  

TBH, I hope you get sorted out sooner rather than later.

As a Bradford fan, I know that it's the uncertainty that is the worst part. Still, you've got a decent ground and a lively supporter base. It may take a few years of belt-tightening to get the books balanced, but I'm sure there'll still be a club for you to support at the end of it all

Re: Future.. how soon till we know : Thu Oct 11, 2018 2:40 am  

Harold Rigby Jnr wrote:

Great questions , all of them and I wish I had the answers but sadly I do not.

Atomic may know more about the £120 million offer as I heard it first on here , from him.

What I do know about DB is that he can change his mind at the drop of a hat. Sadly.

The offer for the stadium was £65 million, that was declined as in buy all or nothing. £122 million was then put on the table which included the club. Lets not beat about the bush. DB holds 56% of Leigh Centurions,he doesn't hold 56% of the LSV.

Ball still in his court were the Leigh Centurions are concerned. But thats all.

Re: Future.. how soon till we know : Thu Oct 11, 2018 7:55 am  

Some sound knowledgable posts at last, my only query is that Tuupe is not applicable to contracts just Paye but I am not sure on that and is not applicable to an admin sale otherwise newco has the same unsustainable liabilities

Re: Future.. how soon till we know : Thu Oct 11, 2018 1:50 pm  

I am pretty sure that players contracts / Money has to be fulfilled, if i remember rightly there was a Test case in football where it was deemed lawful that clubs who went into admin the receivers had fulfill historical contacts of the players in full (classed as football creditors ) whilst other creditors would only receive a nominal amount should the receivers raise enough funds.

If the same applies here i would assume the players would be asked to enter into some form of CVA, this is all assuming the club needs to go into admin

Re: Future.. how soon till we know : Thu Oct 11, 2018 3:59 pm  

Tony-Angelino wrote:

I am pretty sure that players contracts / Money has to be fulfilled, if i remember rightly there was a Test case in football where it was deemed lawful that clubs who went into admin the receivers had fulfill historical contacts of the players in full (classed as football creditors ) whilst other creditors would only receive a nominal amount should the receivers raise enough funds.

If the same applies here i would assume the players would be asked to enter into some form of CVA, this is all assuming the club needs to go into admin

Not too sure it has to be fulfilled but my understanding is the administrators will usually class an employee as a preferred creditor, and they therefore get paid, think there’s a limit though on how much with regards to arrears and this may be why the Footballers went to court? Don’t know of the Football case though so I may be wrong…………..and about everything else too, it won’t be the first time nor the last.

Re: Future.. how soon till we know : Thu Oct 11, 2018 8:43 pm  

Not sure how TUPE would work if all contracts are either at an end or voided.

Re: Future.. how soon till we know : Fri Oct 12, 2018 10:44 am  

ColD wrote:

Well surely the guy taking it into admin can't then buy it back - and if so who from suppliers, staff and fans would trust him ongoing

That couldn't possibly happen surely

Ken Bates did exactly that with Leeds Utd, with the administrator paying the local businesses something like 5p (I can't remember the exact figure) in the pound for thousands that they were owed. This is one of the main reasons that I never went to fooball games for a lot of years, and have only started going to the odd game (3 in the last two years).

The only issue with it is is that any assets you have get sold into the deal, but the good news is that you don't own your own ground and there is very little other assests (Ken sold the Elland Road some time before Leeds ended up in administration - go figure).

So potentially from a Leigh RL perspective this could be a good thing. Also from DB's perpective this could be good for him as well, in that at the moment he will just have to right of the debt owed him by the club to find a buyer, but having gone into admin he might get say 5-10p in the pound back after any assess are sold. Leigh RL then get to start again from a clean sheet either with DB or someone else in charge (if someone can be found to come in). The only real loses are the companies/individuals that are owed money by the club.

So administration may be a good thing for you, but has been pointed out by the Bulls fans all bets are off given that the administrator is trying to get the best deal possible for the creditors.

Re: Future.. how soon till we know : Fri Oct 12, 2018 12:42 pm  

FevGrinder wrote:

Ken Bates did exactly that with Leeds Utd, with the administrator paying the local businesses something like 5p (I can't remember the exact figure) in the pound for thousands that they were owed. This is one of the main reasons that I never went to fooball games for a lot of years, and have only started going to the odd game (3 in the last two years).

The only issue with it is is that any assets you have get sold into the deal, but the good news is that you don't own your own ground and there is very little other assests (Ken sold the Elland Road some time before Leeds ended up in administration - go figure).

So potentially from a Leigh RL perspective this could be a good thing. Also from DB's perpective this could be good for him as well, in that at the moment he will just have to right of the debt owed him by the club to find a buyer, but having gone into admin he might get say 5-10p in the pound back after any assess are sold. Leigh RL then get to start again from a clean sheet either with DB or someone else in charge (if someone can be found to come in). The only real loses are the companies/individuals that are owed money by the club.

So administration may be a good thing for you, but has been pointed out by the Bulls fans all bets are off given that the administrator is trying to get the best deal possible for the creditors.

The down side of that being, that most of these companies and individuals are locals, who sponsor the team. Any future owner would find it somewhat difficult to obtain sponsorship from the said companies and individuals.