Quote:
Originally Posted by carpon
It may be slightly off at a tangent, but whilst we're talking about sides in debt and "winding up orders", My particular hate is this Adminstration scenario.....
What I don't get....... is that a lot of these sides that go into administration just seem to "magically erase" massive debts.Then within a year or two, along comes a "sugar daddy" who pours in a shedload of money into a now "viable" investment (now all debts are gone) and hey presto.....they start rising the leagues again !! 
Bournemouth, Notts County, Rotherham have all escaped our league after being in admin. Now we have Pompey in League 2 who, now they've "cleared" their £60m+ debts will no doubt be up at the top fighting for honours!!! 
And in some cases, some of these clubs, have had multiple administration periods!! (I may be wrong & will stand corrected, but I think Bournemouth & Rotherham namely have endured three admin periods each!!!) Bonkers !!
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Well yes but ....... the alternative is the club goes out of existence and if the town gets its act together they start again six years later with a team playing behind a pub somewhere in the Nonsuch County League Div 3 (South). They fight their way back into the professional league having lost a generation's worth of fan base, a still amateur business management team make a couple of wrong decisions and whoops there they go again ...... but the administration safety net means the fans don't have to lose all hope immediately this time around.
It may save Aldershot from having to do a second phoenix act and let's not forget just how close we were not so long ago - but our unusual sugar daddy put his money in a bit earlier and sought no reward.
Portsmouth's latest so-called sugar daddy lost many, many millions from his "viable
investment" when they fell back into administration and the courts effectively ruled in favour of the supporters' trust by booting his valuation of his assets into touch. Didn't help the small local suppliers, now creditors for the second time, who are only getting a small percentage of the small percentage they were going to get after the first (Redknapp) administration, but 14000-20000 fans will still have a club to support next season - and most of the local suppliers will supply again because their hearts will rule their heads. And I bet 2500 of those supporters come to the Crown (which I know from personal experience is a sodding long way and in my case involves bribing SWMBO with a night or two at the Dunkenhalgh
) if our powers-that-be give 'em enough space!
The thing that is truly bonkers is the "football creditors first" rule.
Only my opinion ........
