Administration CANNOT happen!

[CaleyTennis85]

I see on Pie and Bovril forum (that forum is full of numpties btw) one fan is claiming that administration would be THE BEST THING to happen to the club because it makes it easier to get rid of idiot duds/clowns like Scot Gardiner and perhaps Duncan Ferguson and also makes it more likely that Messrs Alan Savage and Douglas McGillivray may come to the rescue in terms of "buying the club" etc.  But what that idiot who posted doesn't realise is that administration means points deduction which immediately puts us in a relegation dogfight which this club doesn't need plus it doesn't exactly help mend the reputation we've currently been getting so bearing both points made above, it's imperative that administration DOESN'T HAPPEN 

I always like to remain optimistic so I'm still pinning hopes on this Mekwana bloke getting the deal approved and then him delivering on his promises to show all the doubters that they were wrong to even question his intentions!

[dougiedanger]

Insanity.

[RiG]

Caley Tennis meets Ketan Makwana.

[Starscape]

With a few thousand fans, we should maybe think about the route Partick Thistle went down. I would say there's room to be hopeful that any Euromillions lottery win would be able to stabilise the club, allow us to pay off Dunc and approach Pele for a return. It seems a more reliable path, so I'm pinning my tail to that particular donkey.

I'm not that bothered about whether we battle for the Championship or relegation this year. I just want sound finances instead of chasing a rainbow, and employing a manager who has shown some acumen for the job.

Edited August 5, 2024 by Starscape

[big cherly]

5 hours ago, RiG said:

Caley Tennis meets Ketan Makwana.

Mekwana-isms

Figital = physical + digital

gitsuckjockers=_ _ _ _ /_ _ _ /_ _ _ _ _ _ _

[CaleyTennis85]

15 hours ago, RiG said:

Caley Tennis meets Ketan Makwana.

Right I'm going to bite because you asked for it lol. Of course you were the first to come out with some as stupid as that because you've had it in for me for a long time but believe me, the feeling certainly isn't mutual because I respect you but you really don't need to be posting drivel like above! The way you comment makes you think that your in favour of administration so please forgive me if I'm totally misunderstood your post , as I said administration is the LAST thing we need as that means a points deduction which just isn't good for the club if we're to have any ambition of a return to the championship and possibly even premiership in the near future!!

Oh and another thing, I am prepared to give Mr Makwana the benefit of the doubt unlike a vast majority of posters on this forum, one even a journalist who is well respected in the area ffs!! It's a bit harsh to be claiming he's "dodgy" before he's even taken control of the club just on the basis of research, I'm sure many people claimed Roman Abramovich was dodgy but look at what he delivered for Chelsea! 

Sorry to aim a rant at Rig but I needed to get it off my chest .

[+DoofersDad]

I'd prefer administration to being asset stripped.  I'm all for giving folk the benefit of the doubt, but giving Makwana a controlling interest in the club feels a bit like giving your house keys to a stranger who knocks on your door and offers to look after your house whilst you are away on holiday.

[Bridge_Ender]

5 hours ago, CaleyTennis85 said:

It's a bit harsh to be claiming he's "dodgy" before he's even taken control of the club just on the basis of research, I'm sure many people claimed Roman Abramovich was dodgy but look at what he delivered for Chelsea! 

Aye… Don’t let facts get in the way of a good gut feeling, eh? Not sure Ambramovich is the best example of a ‘not dodgy’ investor either…

As much as I’d love a white knight to be riding to ICT’s rescue, absolutely nothing that Makwana has said, or his track record, suggests he is that guy.

For what it’s worth, to my mind there are 3 possible scenarios playing out, with 2) being the most likely:

1) Makwana / Seventy7 (who are technically insolvent) have somehow managed to arrange a credit facility and will purchase 50.48% of the shares for a controlling stake. The security for this will be ICT assets, and the club will be saddled with significant repayments for the foreseeable. See Glazers/MUFC as a template. For this to succeed, a massive change in operating/business plan will be required. Not to mention the further significant investment to get a failing business to a self sustaining, and profitable, level. 

2) As Makwana / Seventy7 are technically insolvent, no takeover will happen and the deal collapses in a few weeks/months. As per the reported 6 months he apparently spent courting Hayes & Yeading before disappearing… Admin inevitably follows as the deal collapses. 

3) Makwana / Seventy7 is the front for some bigger investors. Potentially the reputed Jersey/offshore connection? In that scenario, I’d argue that secrecy is quite the red flag… 

It’s just so depressing watching this whole episode play out. ICT really have become a circus. 

Edited August 6, 2024 by Bridge_Ender

[+snorbens_caleyman]

I think that your scenarios 1 and 3 are what is happening now. 

With 2 happening a short while down the line, with the excuse being that they have now calculated how much it will take to clear the club's debts, re-establish it as a football force, and - their main aim - redevelop the stadium and surrounding land.

At which point the club will go into administration, then liquidation, leaving its assets, such as they are, in the hands of the Jersey investors Factortech.

Who can then say to the Council: "Nice bit of land.  Shame about the derelict stadium.  Like us to sort it out for you?".

[RiG]

12 hours ago, CaleyTennis85 said:

Of course you were the first to come out with some as stupid as that because you've had it in for me for a long time...

I don't have it in for you it was merely a light hearted joke 

[STFU]

There's a cult somewhere missing their special mascot.

[CaleyCanary]

14 hours ago, snorbens_caleyman said:

I think that your scenarios 1 and 3 are what is happening now. 

With 2 happening a short while down the line, with the excuse being that they have now calculated how much it will take to clear the club's debts, re-establish it as a football force, and - their main aim - redevelop the stadium and surrounding land.

At which point the club will go into administration, then liquidation, leaving its assets, such as they are, in the hands of the Jersey investors Factortech.

Who can then say to the Council: "Nice bit of land.  Shame about the derelict stadium.  Like us to sort it out for you?".

IMHO this nails it…

[CaleyTennis85]

11 hours ago, RiG said:

I don't have it in for you it was merely a light hearted joke 

Ah a sense of humour, I like that . It's hard to tell from online forums when these sense of humours are coming out but I certainly applaud you for having one :).

I suppose being on a podcast, you are required to have a good sense of humour .