Will we go in to admin 2moro?

[Family Stand Terrier]

The moose has just tweeted he's hearing reports we may go into admin today. Not like no one at Talksport had been warned about it and asked to raise awareness prior to this.

[IanW]

Mike Lloyd doesn't

 

No comment!

[geosname]

Lets not be afraid of the unknown but embrace it and make it a positive

[Richard...]

Talksport have confirmed we are in administration.

[tisdeano]

Talksport have confirmed we are in administration.

 

they are currently wrong then

[valetillidye]

hopefully they all realise that its just a case of people bleeding the club dry to line their own pockets rather than us being non-viable as a business

 

I can here Adrian Durham already harping on about 2 club cities and merging us with stoke

[yatesy]

I can here Adrian Durham already harping on about 2 club cities and merging us with stoke

 

Stupid man, he can go and pluck himself!

[VantaaVale]

Mike Lloyd doesn't

 

Deny everything Baldrick!

[Warren]

As soon as the directors know the club is trading insolvently they have a duty to stop trading and if they can't pay exisiting creditors to call in an administrator. I guess the calling in requires an appointment and that takes a day or two.

[BycarsLane]

Richard... Your wind up posts yesterday put a smile on my face (even though I am sure they annoyed a lot of other posters). Cut it out now though man. Unless your telling the truth (and prepared to back it up with links etc) its too sensitive a time to wind up the hundreds of fans who will be coming on here for news today.

[BycarsLane]

So what have Talk Sport said?

[Leicestershire Valiant]

Im sorry Mr Quinn but I was outside the main entrance after the game and at least 4 groups came out carrying pictures So I'm sorry your wrong

 

If i was one of the staff that hadn't been paid, that would be me with those pictures. All that memorabilia would be on Ebay by now to make up my unpaid wages.

[VantaaVale]

An interesting analysis has been made by one poster on the Sentinel web site. Maybe one angle that hasn't been thought of here. It would also tie in with Peter Miller's sudden resignation.

 

by dshawleycett

Wednesday, February 29 2012, 12:51PM

 

“My apologies if this has been said already, but I suspect the desperate request to borrow again from the Council is because the mortgage taken out on the ground requires redemption - with interest, that would be about £300,000. If this isn't redeemed, then presumably the ground will be lost and the Club could become homeless.”

 

http://www.thisisstaffordshire.co.uk/Port-Vale-Crisis-club-ask-council-bail/story-15352390-detail/story.html

[Santa]

So the club borrowed circa £300,000 two months ago and now they need to borrow another £300,000 to pay back the first £300,000.

 

I wondered if that might have been the case.

[VantaaVale]

So the club borrowed circa £300,000 two months ago and now they need to borrow another £300,000 to pay back the first £300,000.

 

I wondered if that might have been the case.

 

Yes, how ironic this would be. They break the terms of the Council loan agreement and then go cap in hand to the Council asking them to pay the Gibraltar loan off!

 

What happened to Mike Lloyd saying that money could always be raised by extending the overdraft or taking director's loans? That comment is looking really stupid now.