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 Post subject: Administration
PostPosted: Mon Jan 22, 2018 6:48 pm 
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Joined: Sun Mar 27, 2011 8:28 am
Posts: 1556
Location: Deepest darkest Durham
Don't know that much about it but would it make sense for Sage to put the club into administration as they obviously cannot pay their way ? The 200k needed is presumably gonna be needed by the 25th to pay for the month before so that amount is gonna be needed by February 25th, March etc right up until the end of the season just to see we can finish the season in the National League. I know administration is expensive but will be a way of negotiating with creditors and having some accept less of what they are owed as the threat of liquidation will lead to nought in some cases ? Surely the perspective new owner will get the club cheaper etc and presumably Sage\ Blackledge etc will be the main creditors and negotiate a settlement whilst in administration? Obviously the 10 point deduction could lead to relegation to the National League North but may well be the way we get rid of Harrison etc so by having their contracts negotiate and mutual settlements agreed and most of the playing squad as well? I have a nasty feeling we are going the way of Darlo ? It's January 22nd now the 25th for this 200k is less than 3 days away ? Unless the takeovers done and dusted ( farfrom it it appears,?) Then I suspect administration is looming? I used to be a big Ice Hockey fan in the heady days of the Durham Wasps and remember when John Hall bought the Wasps and moved the franchise to becoming the short lived Newcastle Sporting club the Newcastle Vipers didn't last long, the owners pulled the plug on the franchise mid season and the Ice Hockey Elite League had to bail the club out so it could finish the season rather than expunge the results and kick them out of league . What happens if Sage\ Blackledge etc skip administration and puut the club into liquidatiion if the take over does not happen? As I say I am not an expert but wondering what if and the worst possible scenario happens?


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