[Middle East]

dim view, on 23 February 2018 - 08:59 AM, said:

I'm no expert but I think it's the case that if DA registers an offer which is higher than anybody else and is acceptable to the administrators then he gets the club back with the debt wiped out.

I think that is the case in the form of a Creditors Voluntary Liquidation. Assets and contracts can be transferred and the director can be in charge of the newly formed company (company name has to be different) but under this arrangement debts are wiped out....

Uncle Dave and Cashley in charge of Chesterfield FC 2018 Ltd anyone!!!!

This post has been edited by Middle East: 23 February 2018 - 09:11 AM

[Wooden Spoon]

Rudeboy spireite, on 23 February 2018 - 09:04 AM, said:

I think you have just hit the proverbial nail on the head

What’s his gain?


He would have to pay a % in the £.


Hes getting 17% extra in shares, no hassle at the AGM and smaller liabilities on directors loans. But what tangible benefits?



Higher sell on value maybe?


What little good will is left would evaporate, he’s still out of pocket as he’s got a business that’s cost him many millions, presumably it’s still going to cost him money each season.

[Les Ashmore]

dim view, on 23 February 2018 - 08:59 AM, said:

I'm no expert but I think it's the case that if DA registers an offer which is higher than anybody else and is acceptable to the administrators then he gets the club back with the debt wiped out.

That is correct, the Club would go to the highest Tender so it would cost him More Millions and he would be the loser as he is the Debtor

[Westbars Spireite]

a kick in the balls, on 23 February 2018 - 09:12 AM, said:

What’s his gain?


He would have to pay a % in the £.


Hes getting 17% extra in shares, no hassle at the AGM and smaller liabilities on directors loans. But what tangible benefits?



Higher sell on value maybe?


What little good will is left would evaporate, he’s still out of pocket as he’s got a business that’s cost him many millions, presumably it’s still going to cost him money each season.

Exactly. It makes no sense.

[dim view]

Les Ashmore, on 23 February 2018 - 09:12 AM, said:

That is correct, the Club would go to the highest Tender so it would cost him More Millions and he would be the loser as he is the Debtor

But he would have paid a very low price for a valuable asset.

[Wooden Spoon]

Westbars Spireite, on 23 February 2018 - 09:27 AM, said:

Exactly. It makes no sense.

Surely it would have been easier, quicker and less hassle to just have exchanged contracts with the Chinese, and gone home with a loss but most of his money back?

[Westbars Spireite]

dim view, on 23 February 2018 - 09:28 AM, said:

But he would have paid a very low price for a valuable asset.

He already has it now doesn’t he?

[Wooden Spoon]

dim view, on 23 February 2018 - 09:28 AM, said:

But he would have paid a very low price for a valuable asset.

That’s he’s already got some ten or twelve million invested in, so how is he better off?


If he wanted a valuable asset with no debt he could issue himself new shares to the value of his loans.


I don’t see how administration benefits Allen. There would be a points deduction, there would be a backlash from the fan base.

[gordon_brittas]

Anybody else reckon we will be in administration once the relegation to the conference is confirmed?

If so it looks like the Northern Premier division next season

[Wooden Spoon]

gordon_brittas, on 23 February 2018 - 09:51 AM, said:

Anybody else reckon we will be in administration once the relegation to the conference is confirmed?

No.

[moondog]

Middle East, on 23 February 2018 - 09:09 AM, said:

I think that is the case in the form of a Creditors Voluntary Liquidation. Assets and contracts can be transferred and the director can be in charge of the newly formed company (company name has to be different) but under this arrangement debts are wiped out.... Uncle Dave and Cashley in charge of Chesterfield FC 2018 Ltd anyone!!!!

As most of the debt is to DA how would that be in his interests ?

[Middle East]

moondog, on 23 February 2018 - 12:38 PM, said:

As most of the debt is to DA how would that be in his interests ?

I didn't say it would I just said it was legally possible, only Uncle Dave knows what the end game is!

Chesterfield Casino and dog track 2018 Ltd anyone???

This post has been edited by Middle East: 23 February 2018 - 12:53 PM

[Duckys Moved]

Middle East, on 23 February 2018 - 12:51 PM, said:

I didn't say it would I just said it was legally possible, only Uncle Dave knows what the end game is!

Chesterfield Casino and dog track 2018 Ltd anyone???

I don't see the market for it when there are already Casino's and a dog track up the road.

[Jack Lester's Cast]

metallilad, on 22 February 2018 - 10:25 PM, said:

So. Let me get this right.
Dave Allen personally agrees a price for the club with the Chinese consortium then puts Ashley Carson in charge of crossing the t's and dotting the i's.
Now, allegedly AC deliberately does all he can to sabotage the deal by making pre sale payment demands which put off the consortium and he then allegedly goes back to DA telling him that the Chinese were effectively nothing but "tyre kickers".
This is an alleged £10m bid that has been agreed so why wouldn't DA just pick up the phone and ring up the consortium himself to find out what and why? He's obviously got their contact number. Are we really saying that DA is so gullible that he believes every word that his No2 says to him?
Or has AC gone to DA and told him that he knows of another consortium that will be a better deal for him so DA has told him to just get it sold to whom he thinks best? Im sure that I've seen it somewhere that Mrs Allen is poorly so maybe he is spending time with his wife and letting AC do the negotiations?

They keep using this term quite a lot, but the only tyre kickers I see are Arkwright and Granville.

[metallilad]

Middle East, on 23 February 2018 - 12:51 PM, said:

I didn't say it would I just said it was legally possible, only Uncle Dave knows what the end game is!

Chesterfield Casino and dog track 2018 Ltd anyone???

So he'd have a football club building that would have to be demolished to build a new building?
You do understand that DA wants to make money and not lose it hand over fist. If he wants a dog track and Casino then why not just buy a patch of land then build on it?

[Jack Lester's Cast]

Nitrous Oxide, on 22 February 2018 - 11:43 PM, said:

Why would DA want to off load when he's getting his 6% or whatever it is, at our expense? He mightvè told A.C. to kill the deal on purpose. Guess we'll not know until the club is dead.

No need to red this at all, point well made.

[jack bauer]

slightly off topic but noticed that Scottish championship club Dundee united have just been taken over, reportedly £1million for a club that generally lives in the scotts prem, ocassionally scotts championship.
anyone with business knowledge know how clubs are given a sale valuation price?

[Sammy Spireite]

jack bauer, on 19 December 2018 - 11:33 AM, said:

slightly off topic but noticed that Scottish championship club Dundee united have just been taken over, reportedly £1million for a club that generally lives in the scotts prem, ocassionally scotts championship.
anyone with business knowledge know how clubs are given a sale valuation price?

Like anything, I guess, they're worth what anyone is willing pay.

[JonB]

jack bauer, on 19 December 2018 - 11:33 AM, said:

slightly off topic but noticed that Scottish championship club Dundee united have just been taken over, reportedly £1million for a club that generally lives in the scotts prem, ocassionally scotts championship.
anyone with business knowledge know how clubs are given a sale valuation price?

Is there any theory behind it or is it just the seller plucking a figure out based on how much they want to get out of it based on debt and what else they can get out of the deal? I suspect the majority of it tends to be how much debt the seller has tied up and what they are willing to take.

For example when the new owners bought Sunderland recently they paid Ellis Short £40m. Short had much more than that in the club in reality but he wrote a load of debt off i think and then took the £40m as a payment for the amount of deby left he wanted to get back. That in theory left the new owners with a club that was debt free. In the case of Dundee maybe the deal has restructured any debt differently or there wasnt much. In reality any clubs other than big premiership clubs i suspect are just based around the debt. The bloke who owns Liverpool is selling but in no rush and i think i saw he wanted around £1 billion for Liverpool i suspect because they are an attractive proposition to buy with their fan base, history and success on the field.

The issue we have in terms of what DA is valuing CFC at is that he has a lot of money tied up in the club that is the debt to him and the valuation is all based around how much he wants to get back. Suspect that figure will vary depending on time and how desperate he is to get out plus what deal he can negotiate. Didnt he take less up front when selling up at Hillsborough but had a clause that got him a payment of a decent amount should Wednesday make the premiership.

[Blue5]

JonB, on 19 December 2018 - 11:45 AM, said:

Is there any theory behind it or is it just the seller plucking a figure out based on how much they want to get out of it based on debt and what else they can get out of the deal? I suspect the majority of it tends to be how much debt the seller has tied up and what they are willing to take.

For example when the new owners bought Sunderland recently they paid Ellis Short £40m. Short had much more than that in the club in reality but he wrote a load of debt off i think and then took the £40m as a payment for the amount of deby left he wanted to get back. That in theory left the new owners with a club that was debt free. In the case of Dundee maybe the deal has restructured any debt differently or there wasnt much. In reality any clubs other than big premiership clubs i suspect are just based around the debt. The bloke who owns Liverpool is selling but in no rush and i think i saw he wanted around £1 billion for Liverpool i suspect because they are an attractive proposition to buy with their fan base, history and success on the field.

The issue we have in terms of what DA is valuing CFC at is that he has a lot of money tied up in the club that is the debt to him and the valuation is all based around how much he wants to get back. Suspect that figure will vary depending on time and how desperate he is to get out plus what deal he can negotiate. Didnt he take less up front when selling up at Hillsborough but had a clause that got him a payment of a decent amount should Wednesday make the premiership.

I wonder what your Uncle Terry makes of David, Ashley and the mess at Chesterfield?