birmingham holding company in receivershiop

[tisdeano]

I am not attempting to rewrite history, the club is suffering from all the ***** that happened around the administration and now has an owner who by his own admission isn't finding it that easy to run the club. Regardless of the moral high ground, sponsors and contractors for work to be carried out at Vale Park, and fans to watch the games are harder to come by now.

 

correct, as you pointed out the actions of v2001 almost led to the death of our club

 

thankfully new owners ensured that did not happen and rather than producing a relegation as under v2001 they ensured a promotion

 

there is still loads of work to be done to repair the damage caused by v2001, it will not be a simple process

[Santa]

Insolvency is the inability to pay debts as and when they become due.

 

The only reason V2001 stayed solvent for as long as they did was because they were successful in putting off repaying their debts and extending their lines of credit further and further.

 

If they'd had to continue paying off the Council loan instead of taking the payment holiday they negotiated, it would have taken another £15-20k per month out of their cashflow and they would have struggled more than they already did. They also had seemingly open ended loans from Harlequin and the Coors Brewery which stayed on the books for years.

 

Once V2001 actually had to start paying their debts instead of constantly putting them off, that was when the trouble began, even then they managed to stave off the inevitable winding up order by two or three months thanks to Keith throwing his money away at them.

[Rampant Zebra]

And we aren't having a cash flow crisis now which is being helped by the early bird season ticket offer to keep some money coming in to cover the shortfall on gate receipts?

[Santa]

And we aren't having a cash flow crisis now which is being helped by the early bird season ticket offer to keep some money coming in to cover the shortfall on gate receipts?

Only according to you. There's no indication yet that the Early Bird season ticket money is being used in this way. It could be held in escrow for as much as we know.

[cheshirevaliant]

And we aren't having a cash flow crisis now which is being helped by the early bird season ticket offer to keep some money coming in to cover the shortfall on gate receipts?

 

Isn't the season ticket money ring fenced for next season?

[bar1]

That wasn't actually V2001s fault, it was more the actions which forced the club into administration that caused us all to lose money.

 

:doh:

[tisdeano]

And we aren't having a cash flow crisis now which is being helped by the early bird season ticket offer to keep some money coming in to cover the shortfall on gate receipts?

 

nope, you just made that up

[Rampant Zebra]

Whatever! :-) We are where we are.....

[tisdeano]

Whatever! :-) We are where we are.....

 

correct

 

in league 1

 

debt free

[rsb]

Open letter to Mr Smurf can you please comfirm that early bird season ticket money is not being used to prop up this seasons takings. Thank you P S as this is being said in other posts

[rayzer]

Isn't the season ticket money ring fenced for next season?

 

It has been previously but I have not seen any thing to say it is being this season. That said, does it matter? It is up to the Chairman whether he puts money in now to cover cash flow, or later to help next years' budget.

[Bald Eagle]

That wasn't actually V2001s fault, it was more the actions which forced the club into administration that caused us all to lose money.

 

The actions merely accelerated the process. They continued to lose money year on year, and propped this up by player sales / money up front on catering and sponsorship deals just so they could cling to power a little longer. Does anybody really believe we are not in a better place now?

 

The floodlights issue is yet another symptom of the lack of investment under their stewardship (Railway toilets, broken hand dryers, Billy's clock etc.....)

[melv]

And we aren't having a cash flow crisis now which is being helped by the early bird season ticket offer to keep some money coming in to cover the shortfall on gate receipts?

 

What evidence (if any) do you have to back this claim up?

 

IF you do have any evidence to back it up then why keep it to yourself?

[Yukon]

correct

 

in league 1

 

debt free

 

Don't waste your breath TD.

 

It must kill him how well the club is being ran compared to when his mates Bratt & co had control. His constant attempts to undermine the current regime only shows the bitterness he harbours

[Conrad]

Whatever! :-) We are where we are.....

 

Which is a damn sight better than being where we were.