New plea for a takeover

aptid · **Joined:** Thu Aug 17, 2006 9:49 pm **Posts:** 1506

The term "all forms of structuring will be considered" is used in yet another solicitor statement, does it mean all offers considered? If so then presumably the assets have now been completely stripped and the end is nigh.

http://www.thenorthernecho.co.uk/sport/ ... _interest/

ed-t-ball · **Posted:** Sat Feb 17, 2018 7:02 pm

Robbed and asset striped completely. F off you complete pack of f'ing bastrads.

Yubep · **Joined:** Wed Jan 31, 2007 6:35 pm **Posts:** 25266

He uses hashtags as effectively as my mam uses emojis

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Eventhorse · **Joined:** Sun Feb 01, 2015 5:53 pm **Posts:** 63

Repres noting Pam not Sage. Expert in preps is and administrative n. Pam andSage must have fallen out over how much Sage are demanding. It's going to get messy!

kevin pooles gloves · **Joined:** Tue Oct 07, 2014 2:28 pm **Posts:** 9613

The bloke on Radio Tees got a bit overexcited today because PAMMY put an article in todays programme that a takeover was very close to being completed.
Well aye!

PJPoolie · **Joined:** Wed Mar 06, 2013 6:28 pm **Posts:** 15342

All of these statements are as clear as mud, they aren’t actual statements are they? The solicitor must have been behind the one on the official website the other week as it has a similar erm ‘style’. Talking in riddles springs to mind.

If thy have nothing to report then don’t report anything, we are desperate here. Duxbury’s notes and this vague statement contradict each other it’s all just a mess.

Eventhorse · **Joined:** Sun Feb 01, 2015 5:53 pm **Posts:** 63

Prepacks not preps!

BillinghamPoolie · **Posted:** Sat Feb 17, 2018 7:40 pm

Eventhorse wrote:

Repres noting Pam not Sage. Expert in preps is and administrative n. Pam andSage must have fallen out over how much Sage are demanding. It's going to get messy!

?

Bostonpoolie · **Posted:** Sat Feb 17, 2018 7:48 pm

Different firm of solicitors this time acting for the club, which begs the question who the previous firm in Leeds were acting for?

Snowy · **Joined:** Fri Aug 18, 2006 12:18 pm **Posts:** 37518

It appears to me to be saying they've tried everything and despite bending over backwards, no one is remotely interested in buying the club. Looks to me like someone trying to say, 'Nowt to do with me Guv' and walking away looking reasonable.
Seems like time has run out. Was this the last rites ?

Yubep · **Joined:** Wed Jan 31, 2007 6:35 pm **Posts:** 25266

So we have insolvency Geoff and this hashtag man working to try n sell the club?

We have more solicitors than right backs!

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pooliecrab · **Joined:** Tue Dec 16, 2014 9:31 pm **Posts:** 6028

Maybe we have more legal matters than long diagonal balls to deal with?

PJPoolie · **Joined:** Wed Mar 06, 2013 6:28 pm **Posts:** 15342

Bostonpoolie wrote:

Different firm of solicitors this time acting for the club, which begs the question who the previous firm in Leeds were acting for?

This new bloke is boring he's not even got a quirky nickname like Insolvency Geoff, how about Admin Andy or Andrew of Impecuniousness.

pooliecrab · **Joined:** Tue Dec 16, 2014 9:31 pm **Posts:** 6028

AFC Assembly Assistance Andy?

yloop · **Posted:** Sat Feb 17, 2018 8:51 pm

Eventhorse wrote:

Repres noting Pam not Sage. Expert in preps is and administrative n. Pam andSage must have fallen out over how much Sage are demanding. It's going to get messy!

UnreliableSalopian · **Posted:** Sat Feb 17, 2018 9:11 pm

So, to summarise.... Pam says in the programme that a sale is close. On the same day, a second solicitor claims to have been instructed to sell the club, this time by the club itself rather than its owner. Pam has to rush out a statement qualifying his involvement.

To put it mildly, this is an omnishambles....

Lord_of_Stranton · **Joined:** Sun Mar 13, 2011 4:48 pm **Posts:** 1852

Wasn't at the game today, in exile, can anyone sum up what Pam said about a potential sale?

Yubep · **Joined:** Wed Jan 31, 2007 6:35 pm **Posts:** 25266

Is this the 3rd or 4th plea for buyers to come forward since it was announced we were up for sale?

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tREE_wiTH_hAMStER · **Joined:** Sat May 19, 2007 11:00 am **Posts:** 20758

Agree with Snowy they simply saying ‘we did everything we could’ before they fuck off.

Snowy · **Joined:** Fri Aug 18, 2006 12:18 pm **Posts:** 37518

Image is important. When you slip away, it's sensible to leave a good impression to the world and look like you bent over backwards.

loan_star · **Posted:** Sat Feb 17, 2018 10:24 pm

These solicitors won't come cheap. One of them was involved at DFC only a few years ago and I know some of the figures charged for works done. Nothing illegal of course but I wouldn't have been happy paying the amounts for the type of work done.

Indypool · **Joined:** Sat Jan 31, 2015 10:58 pm **Posts:** 21

Presumably the Pam piece went to printers several days ago so pre-dates today’s come and buy us plea

poolieinnottingham · **Posted:** Sun Feb 18, 2018 12:04 am

Just a thought - maybe the original lawyer is still waiting to be paid?

Jamie1952 · **Joined:** Fri Jul 15, 2011 3:56 pm **Posts:** 7465

Lord_of_Stranton wrote:

Wasn't at the game today, in exile, can anyone sum up what Pam said about a potential sale?

https://www.hartlepoolmail.co.uk/sport/ ... -1-9021967

Snowy · **Joined:** Fri Aug 18, 2006 12:18 pm **Posts:** 37518

Is that statement the final and closing chapter in this sorry tale?
A last very public emphasis of how they've done everything possible to find a buyer, are they about to ride out of town with their image intact?

poolie1 · **Joined:** Sat Jan 31, 2015 11:45 pm **Posts:** 2002

you dont have to have evidence of 3 million in funds ..... and you can pay us our money back in instalments ???

horden · **Posted:** Sun Feb 18, 2018 9:07 am

It doesn't read well does it? Why do you need to be paying two sets of people to sell the club, when one would do? Sounds like a complete communication breakdown between Duxbury and Sage , with both parties so desperate to get off the sinking ship, they have decided to take matters into their own hands. Another example of how unprofessional and clueless in running a football club terms these people are. For all this, it adds nothing to what we knew a month ago or even longer, so why bother at all with these statements?.

Mr Irrelevant · **Joined:** Thu Aug 17, 2006 8:25 pm **Posts:** 22670

When all else fails, a blank refusal to look facts in the face will see us through. Administration or liquidation has been inevitable for some considerable time.

charco · **Joined:** Thu Jun 25, 2015 8:24 am **Posts:** 885

Mr Irrelevant wrote:

When all else fails, a blank refusal to look facts in the face will see us through. Administration AND liquidation has been inevitable for some considerable time.

There, I changed it for you ...

congress_tart · **Posted:** Sun Feb 18, 2018 11:22 am

What kind of scenario could it be where we are put straight into liquidation rather than administration?

Mr Irrelevant · **Joined:** Thu Aug 17, 2006 8:25 pm **Posts:** 22670

Probably 'and' but it could be bought from the administrators in theory. ultimately my best guess is liquidation. People now seem to be pinning their hopes on a prepak but that comes with a CVA which means that 35% minimum of the debts of the club have to be paid off in three years. If the debt to sage is to be believed thats roughly 200k a year to sage post administration. This is unworkable.

For this reason, unpopular as it might be, a new club is the best option.

kevin pooles gloves · **Joined:** Tue Oct 07, 2014 2:28 pm **Posts:** 9613

Its the only option for me.
Got no interest in giving Season Ticket money to Sage Athletic.

Yubep · **Joined:** Wed Jan 31, 2007 6:35 pm **Posts:** 25266

horden wrote:

It doesn't read well does it? Why do you need to be paying two sets of people to sell the club, when one would do? Sounds like a complete communication breakdown between Duxbury and Sage , with both parties so desperate to get off the sinking ship, they have decided to take matters into their own hands. Another example of how unprofessional and clueless in running a football club terms these people are. For all this, it adds nothing to what we knew a month ago or even longer, so why bother at all with these statements?.

We can’t afford to pay staff in the kiosks, almost all worked for free... fans from all over the country donated to the club...

Yet they find the money to pay 2 solicitors

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horden · **Posted:** Sun Feb 18, 2018 3:00 pm

Yubep wrote:

horden wrote:

It doesn't read well does it? Why do you need to be paying two sets of people to sell the club, when one would do? Sounds like a complete communication breakdown between Duxbury and Sage , with both parties so desperate to get off the sinking ship, they have decided to take matters into their own hands. Another example of how unprofessional and clueless in running a football club terms these people are. For all this, it adds nothing to what we knew a month ago or even longer, so why bother at all with these statements?.

We can’t afford to pay staff in the kiosks, almost all worked for free... fans from all over the country donated to the club...

Yet they find the money to pay 2 solicitors

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And no doubt they will know these solicitors personally, throwing a bit of work their way. A classic tried and tested way of running down a dying football club and getting what you can out of it before the inevitable death.

Gums · **Joined:** Sun Feb 01, 2015 11:43 pm **Posts:** 39

Wouldn’t surprise me if Cawkwell is doing this as a freebie.

loan_star · **Posted:** Sun Feb 18, 2018 6:05 pm

Gums wrote:

Wouldn’t surprise me if Cawkwell is doing this as a freebie.

A foot in the door for when the shit hits the fan?

Malcolm Dawes Knew My Father · **Joined:** Wed May 11, 2011 4:25 pm **Posts:** 4198

Mr Irrelevant wrote:

Probably 'and' but it could be bought from the administrators in theory. ultimately my best guess is liquidation. People now seem to be pinning their hopes on a prepak but that comes with a CVA which means that 35% minimum of the debts of the club have to be paid off in three years. If the debt to sage is to be believed thats roughly 200k a year to sage post administration. This is unworkable.

For this reason, unpopular as it might be, a new club is the best option.

I'm not convinced that administration followed by new owners taking over is completely off the table. For one thing, my impression is that Jeff Stelling is still working towards a takeover behind the scenes?

Board representation for the Trust might not be as attractive to some as outright fan ownership of a phoenix club, but I'm afraid it's the solution that the vast majority of Pools fans would be most happy with, particularly if Jeff was staking his own credibility and some financial investment on a new set up.

In that context, the players proving yesterday that they are not quite the relegation certs that we all thought would be the case is also potentially important.

On a lighter note (I hope) I'm surprised nobody else seems noticed a familiar note to the end of the last official statement: ""The club will not be making any further comment." Surely the ghost of King Ken isn't stalking the Victoria Park battlements again???

Mr Irrelevant · **Joined:** Thu Aug 17, 2006 8:25 pm **Posts:** 22670

It's the CVA that kills it. League rules say 35% in three years. If it was a normal prepak I'd agree with you but unless sage waive their debt then it's too big an albatross round the clubs neck.

Hawklord · **Joined:** Thu Aug 17, 2006 10:27 pm **Posts:** 3115

Mr Irrelevant wrote:

It's the CVA that kills it. League rules say 35% in three years. If it was a normal prepak I'd agree with you but unless sage waive their debt then it's too big an albatross round the clubs neck.

Out of morbid curiosity what happens if the 35% does not get repaid? Is that automatic liquidation?

Mr Irrelevant · **Joined:** Thu Aug 17, 2006 8:25 pm **Posts:** 22670

As a company it can do as it likes in terms of admin etc but if a club wants to retain its place in the football pyramid it's got to follow league rules and they are as above.

New plea for a takeover

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