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Admin by Oct 16th - It's here now!

I don’t have time to post any more than this for now but Panos Thomas has emailed shareholders with a very lengthy update where the headline looks like being confirmation that, unless £200K can be raised by October 16th, then Administration would be “inevitable” since the club would be insolvent.

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Edited by Charles Bannerman

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  • It's all starting to sound like a load of sentimental tosh. A couple of months back most people would have been happy to aee Ferguson booted but now the circumstances have changed and he's likely to d

  • I've just watched the video and found it very disappointing. It was a total poor me show from the remaining directors who spoke more like they felt they were victims when they are in fact the enablers

  • For me the question is whether the leadership is there to galvanise that mindset in the players. I don't think Big Dunc has that belief so if he doesn't have it, he can't pass it on to the players.

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10 hours ago, The Mantis said:

Pedant alert! No it isn’t. The proof of the pudding is in the eating…

Evolution of language 🤷‍♂️😛

https://www.dictionary.com/e/slang/the-proof-is-in-the-pudding/

https://www.merriam-webster.com/wordplay/origin-of-the-proof-is-in-the-pudding-meaning

https://www.bbc.co.uk/learningenglish/features/the-english-we-speak/ep-19082014

 

1 hour ago, CaleyD said:

Calm down. No need to act like a bowl in a China shop. Noone is making you the escape goat.

Anyway, I thought it was "the proof was in the pudding" from the gecko.

2 hours ago, CaleyD said:

The site’s been a bit quirky for me in the past few days, and my erudite reply to this has just vanished before my eyes 😢

4 hours ago, CaleyD said:

Yeah, I get that. At my age you've  seen plenty of language evolving before your eyes, but that doesn't mean I can't have a moan about it when the evolved version makes no sense 😇 Next time Mrs Mantis serves me up a rice pudding, I'll look in it for the proof.

A few fairly recent football expressions that fairly rip my knitting:
"on the front foot" 
"hopefully we can kick on"
"playing two up top" - it's not a xmas tree ffs
"buying a free kick" - what?
"in and around" I blame you, Alan Shearer. How can you be in and around a player?
"subtitute" and "vunrable"

Not to mention non-readers who hear phrases such as "prima-donna" and render them as "pre-Madonna"... maybe Lady Gaga is "post-Madonna".
And "we equipped ourselves well" instead of "acquitted". Also a bit disheartening to hear the ACC of Merseyside Police this week talking about "grevious bodily harm".

I dodged a bullet by not forking out 40 quid to watch that dross at Hampden last night. Instead I got to suffer BBC Scotland's very own squeaky pet hamster who obviously couldn't be ersed doing his research on how to pronounce the Icelandic players. So even though Thommo seemed to have mastered Thórdarson and Thorsteinsson, his wee pal insisted on calling them Pordarson and Porsteinsson, totally unaware of the Þ character in the Icelandic alphabet.

Anyway, apologies for taking the thread off topic. The mods (beaks) will likely impose a ban.

Edited by The Mantis
Merseyside for Liverpool

We needed a result after Greece and we got one. A terrible result, but a result nevertheless.

There's a window of opportunity but early doors, I think we can see the light at the end of the carrot. After all, if you don't believe you can win, there's no point getting out of bed at the end of the day.

Definately

2 hours ago, Starscape said:

We needed a result after Greece and we got one. A terrible result, but a result nevertheless.

There's a window of opportunity but early doors, I think we can see the light at the end of the carrot. After all, if you don't believe you can win, there's no point getting out of bed at the end of the day.

 

2 hours ago, The Mantis said:

At the end of the day, it gets dark.

 

1 hour ago, roarer said:

Definately

You three are a pair if I ever saw one 😂

5 hours ago, The Mantis said:

At the end of the day, it gets dark.

Sorry to butt in on the foursome, but not in Hamilton, it’s dark all day for them it seems.

if you have a spare 8 minutes 

 

2 hours ago, bishbashbosh said:

but not in Hamilton, it’s dark all day for them it seems.

Sad to see the Hamilton diehard fan pleading for the individuals/ pacts having a game of power-play (it’s ma baw), over the clubs future like a toy. 

It’s too close to the bone after what we (ICT) have experienced over the last 18 months. That said, it is another poignant example and precarious case for a lot of Scottish clubs that simply have been ‘hollowed out’ of fans, staff, facilities and money; and trying to exist on long past memories of town / area identities and what that once represented is not enough to keep the club afloat now. De industrialised to many towns has left them with dwindling population and reduced spare money. Throw in the ease for fans to now travel to watch the big city teams, well it’s a struggle for sure. 
I expect Craig Brown will come up with some agreement with the ‘other faction and individuals’ to enable Hamilton to stay at Douglas Park (or whatever chip shop now owns the ground name). 
Fact is, for me it’s just kicking the can down the road for 5 or six years. There is an inevitability IMHO more small teams will face Administration, merger or do a Gretna or Clydebank in the not too distant future. 
bc

Edited by big cherly

10 hours ago, big cherly said:

Sad to see the Hamilton diehard fan pleading for the individuals/ pacts having a game of power-play (it’s ma baw), over the clubs future like a toy. 

It’s too close to the bone after what we (ICT) have experienced over the last 18 months. That said, it is another poignant example and precarious case for a lot of Scottish clubs that simply have been ‘hollowed out’ of fans, staff, facilities and money; and trying to exist on long past memories of town / area identities and what that once represented is not enough to keep the club afloat now. De industrialised to many towns has left them with dwindling population and reduced spare money. Throw in the ease for fans to now travel to watch the big city teams, well it’s a struggle for sure. 
I expect Craig Brown will come up with some agreement with the ‘other faction and individuals’ to enable Hamilton to stay at Douglas Park (or whatever chip shop now owns the ground name). &nbsp
Fact is, for me it’s just kicking the can down the road for 5 or six years. There is an inevitability IMHO more small teams will face Administration, merger or do a Gretna or Clydebank in the not too distant future. 
bc

Sorry Jock Broon. 

There is/was a mentality surrounding football that gaining entry to the pro leagues would bring fame and fortune...and spending money to do that would pay dividends.  People who'd never been to games in their lives would start flocking to see the local team playing the 'big boys'.

As we, and many others, have come to realise, that's not the case.  What you're then left with is clubs which are, put simply, financially unsustainable.

We've seen various attempts, schemes, promotions, offers etc. over the years that are designed to grow the fanbase.  Even a Scottish Cup win and European football hasn't shifted the needle by much...if anything.

If our new sustainable business model is dependent on growing crowds, we're screwed.  The previous regime knew that, they were just REALLY bad at executing the side hustles needed to supplement income....and equally bad at valuing fans who were providing the income we were getting.

Whilst I don't like/agree with everything Alan Savage is doing/done, I do think he's spot on with things like the need for a more affordable stadium. Recent comments may hint at the fact the planned tie-up for a move aren't going to happen soon, so work to reduce costs (and increase income) where we are are entirely sensible... saving £1000/month on energy is probably more realistic, and easier, than trying to put an extra 50 bums on seats every game.

With regards to Hamilton, there have been a lot of rumours about some of the business practices taking place at/through there over the years, and there was even a time when the club had a 'feck it, we don't need fan money' and were doing things like charging 20p entry and only had something like 200 season ticket holders.  This day was always coming for them, and my only surprise is that it took this long.

Scottish Football needs a paradigm shift, and soon, if this trend is to change.

Hamilton have a few dodgy characters associated with them in terms of ownership.  I feel very sorry for their fans, can't be easy supporting a non-OF team in that part of the world.

  • 1 month later...

Gordy Fyfe still a director???

Alan Savage is also not yet listed as a Director. Nothing untoward as they are likely still concluding the admin exit process. Making sure all payments relating to CV are paid, share transfers are concluded etc. Lot of paperwork required in all of that.

Edited by CaleyD

Yup - seems like a bit of a paperwork exercise. Cannot claim to understand almost any of it - hence why i work in IT not finance - and will defer to those with better knowledge but it looks like its the paperwork surrounding of the clawback of all the shares given up?

22 hours ago, CaleyD said:

Alan Savage is also not yet listed as a Director.

Dumb question, maybe, but bear in mind that I don't see and hear everything - has he actually said that he intends/wants to become a director?

I can see that he might wish to run the club at arm's length, via FC Inverness. There could be advantages to NOT being a director - if, for example, the club went into administration again.

OTOH, a lot of stuff will need director authorisation, so he'd either have to be a director himself, or have very pliant directors - and recent history shows that we have these :)

8 minutes ago, snorbens_caleyman said:

Has he actually said that he intends/wants to become a director?

I can see that he might wish to run the club at arm's length, via FC Inverness. There could be advantages to NOT being a director - if, for example, the club went into administration again.

OTOH, a lot of stuff will need director authorisation, so he'd either have to be a director himself, or have very pliant directors - and recent history shows that we have these :)

I think he did mention something in one of the interviews about becoming chairman in due course but so far he has definitely stayed behind the scenes since we came out of admin (or while we are coming out of admin) or whatever our legal status is. He seems to be letting Charlie, Kells and others get on with running the various bits of the club. That can be great if you have good people but as we saw when our previous chairman did it, it doesn't always end well. I do have a lot more faith in Charlie and Kells though than I ever did in my namesake and Big dunc.

34 minutes ago, CELTIC1CALEY3 said:

Just a little reminder to those supporters who like to send anniversary cards it was a year ago that Ketan claimed he owned the football club. https://ictfc.com/club-statement-21/

I can't help but celebrate that never going through. We would have been gone in a month. It's interesting to see that Voldemort (Gardener) is now involved with Seventy 7 Ventures. He should be quite at home - one full of BS with another.

I see that Edinburgh City have been deducted fifteen points after a liquidator was appointed following unpaid debts. EC have appealed the decision - the SPFL see this as an 'insolvency event', the same as our administrator.

I'm sure someone who knows can advise but I think the main difference is that administration is seen as a way to save companies whereas liquidation is a creditor looking to recovery any potential money. Seems like the liquidator has been appointed by petition meaning that a creditor for EC has got fed up and asked the court to help them get their money.

Sad times with both of last seasons administration bound clubs (us and Dumbarton) managing to get out of their situations by the start of this season.

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