Hodcroft supposedly told the players Thursday that if we go down we go into admin if true then makes a bit of a mockery of it being a well run club

Well if that's true it worked didn't it.

Could explain Duckworth coming out on Friday and saying that they're playing for their careers. I've never believed any admin rumours, so we'll see what happens.

If they can't sell the club on and write the debt off that way then going into admin would achieve the same thing financially. Either way they get the tax benefits of 'losing' that money. Certainly not saying I know whether that rumour is true or not but it makes perfect sense from their point of view. If they're going anyway take the last season of admin charges and then get as much as possible out of it tax wise.

A penny in the pound will keep the taxman happy..

So IOR pull out of takeover because of worries about TMH's long term plans for pools, then put us into admin, with the possibility of being liquidated. That really makes a lot of sense, unless of course the takeover was just a sham.

D'you think...?

You're not suggesting foul play are you, old boy?

An alternative hypothesis: Lord Russ Green is just not very good at his job but would do anything to keep it.

Concurring with Sir Chip over here.

Lord Russ Greens multiple Chief executive of the year awards would suggest otherwise

Was Russ Green CEO of Scarborough when they went out of the league? Werent Carlisle involved on last day of season... Conspiracy anyone?

Two companys same ceo that should end the different theorys.
Forget about it till end of season lets see what this next fans meeting brings hopefully we win a few games before then and everones singing from the same hymn sheet!

I really don't see Ken putting us into administration. Why stop the takeover only to put the club into Admin a few months later? I don't think he'd want his name on that.

I could see us going part time if no investment has been found, some clubs are at that level and it's all about running the club as cheaply as they possibly can.

Chip.....Where is the meeting on April 8th?

Cheers, me and 3 others will be there.

If they are put into administration would that not mean a points deduction for next season or even been thrown down a few leagues further like what happened to Darlo?

Oooh ,all sorts of scenarios there Watty..who knows. .

I think Darlo's situation was different - 3 administrations in 10 years? and pretty much liquidation of the club meant they had to slide down the leagues.

This will be our first administration - since 1994? - so we will no doubt face a 10 point deduction.

as for Kens possible reasoning - If he agrees to 10p in the pound - IOR can still demand a fee of £1.4 million for the club... so they could still be seeking a payday.

not everybody gets offered 10p in the pound Keith.

I believe if you're in administration you will not be granted membership to the Conference unless a CVA has been agreed. Clubs who enter admin in the conference as well get much harsher punishments as well I think. Conference + Administration = Fucked.

Fair point Sussex - purely speculating here - as IOR would be the only creditor, not sure what would happen.

At least you know who your biggest creditor is, however so did we and look what the twat did to us!



I don't think the number of administrations had anything to do with it. The conference has strict rules like PJ says that no CVA means no conference membership.

Fair point PJ - not entirely sure of the rules - just trying to gauge what is going on in Kens mind at the minute.

If what you suggest is true - the only route for IOR to get out with any cash is without administration - otherwise the club will simply disappear....

If the prick really wants that to happen - I hope he shits hedgehogs for eternity.

So let's get this straight, IOR go into administration because they owe money to themselves that they can't pay back, after which they are unable to agree on a CVA whereby they receive 1p in the pound from themselves and lose the rest. Because they are ready to write it off, but only as long as it's to a dodgy consortium.

Keep the rumours coming.

Any idea what the deadline is to agree a CVA to satisfy the conference rules?

Just speculating Montpoolier

I heard on good authority yesterday that we are entering a partnership with Sunderland, will be playing our home games in Peterlee and will be called Poolieland...

What a lot of hot air!

Exactly, this is why it's probably 99% bollocks. How many times have we heard this rumour?

Like I said earlier though you watch the club go part time including the staff such as the groundsman. That's my prediction.

How about a scenario where once some substantial incoming funds appear in the bank of a company it then pays back every penny it has in liquidity to its parent company as a write down of some debt then goes into administration?

This

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Lets consider the facts as we know them

we have no creditors, with the exception of IOR

IOR are willing to cancel the debt if they sell up

If we enter administration, the creditors end up out of pocket

IOR are willing to walk away with nothing

So administration seems the furthest point from the truth

Or

Ken really does want to be the guy who called an end to a little football club in the North East, because he didn't get everything he wanted for free, so chucked his toys out of the pram...

Either is a possibility in my mind.

No idea to be honest! All I know is that if you come out of admin without a CVA then you get relegated out of any conference league into the first league that will have you. Quite how they would work it if you did go into admin at the end of the season if you are relegated, I haven't a clue about that either! Gave up trying to work out the football authorities a few years back!

Well they certainly gave you guys a rough ride Loan Star - Its the inconsistency that frustrates you, when the FA seem to make the rules up depending on the team and situation. Maybe we'll be playing you guys sooner than we all think matey.

To be fair, 3 times in a handful of years was embarrassing and we probably deserved a hammering, just a shame the likes of Portsmouth get the rules bent to suit.

He didn't stop the takeover because he wanted to, if they had the minerals it would have been dusted.

Normally when a business can't be arsed any more it just pays off all its debts, winds the company up, and shares out all its remaining assets.
That's pulling the plug. Administration isn't.

If they wound up HUFC Club Company Ltd. and did it cleanly, I believe I've seen a precedent whereby some FA process allows the licence or whatever it is called to be transferred to a new company in full continuity and the club is considered the same club, just under a different owner. Admittedly that might have changed since, although it wasn't too long ago when I last saw it discussed. I've no idea what the exact rules are when that happens.

It could be handed over to new owners without any financial transfer. Basically 'here's the keys but we're keeping the money'.

Are they though? There is still installments from Baldwin/James to come and it wouldnt surprise me if they felt they were owed some of it when it comes in.