Glasgow Loon Posted June 30, 2009 Share Posted June 30, 2009 There was an article in the sunday times sport section which i have been looking for online and cant locate but it said the debt was somewhere between £800,000 and £1million. If this is the case then no investor will touch livi. 0 Quote Link to comment Share on other sites More sharing options...
Larsson. Posted June 30, 2009 Share Posted June 30, 2009 All the livi players were payed today, did'nt see that coming. 0 Quote Link to comment Share on other sites More sharing options...
banjo player Posted June 30, 2009 Share Posted June 30, 2009 All the livi players were payed today, did'nt see that coming. I bet they didn't either...but they are due back from their hols tomorrow and I suppose the Massolini/Rankine junta had to make sure they would turn up ready to train, not just chapping the door for their cash. I hear that in order to get the leccy back on there will be a £1000 reconnection fee plus a requirement to deposit 50% of next year's expected charges (oh, and the outstanding bill paid in full). Those Spaniards at Scottish Power take no prisoners. To quote Franco, "donde estan los servicios caballeros?" 0 Quote Link to comment Share on other sites More sharing options...
Ivo den Bieman Posted June 30, 2009 Share Posted June 30, 2009 It's pretty clear why if the players have been paid- to stave off relegation to Div 3 and ensure they turn up for pre season... 0 Quote Link to comment Share on other sites More sharing options...
The Arch Posted June 30, 2009 Share Posted June 30, 2009 They've appointed a new head coach. John Murphy, the world famous goalkeeping coach, is their new man. It's on the bbc website. 0 Quote Link to comment Share on other sites More sharing options...
Savage Henry Posted June 30, 2009 Share Posted June 30, 2009 It's pretty clear why if the players have been paid- to stave off relegation to Div 3 and ensure they turn up for pre season... I think that's true. Given the inevitability of starting the season on minus ten points, and the almost equal certainty of relegation, rhe BBC is already reading the last rites. 0 Quote Link to comment Share on other sites More sharing options...
Ivo den Bieman Posted June 30, 2009 Share Posted June 30, 2009 They could still be relegated if the Hegarty situation has not been sorted out- and its not clear if *all* the players have got money, or just some. 0 Quote Link to comment Share on other sites More sharing options...
Ravelin Posted June 30, 2009 Share Posted June 30, 2009 They've appointed a new head coach. John Murphy, the world famous goalkeeping coach, is their new man. It's on the bbc website. I wonder if John Murphy knows he's the head coach. As anything that come out of Livi these days is highly suspect I wouldn't be surprised if he didn't. 0 Quote Link to comment Share on other sites More sharing options...
Whistle Blower Posted June 30, 2009 Share Posted June 30, 2009 Nowhere near what he said he has, agreed, but there doesn't seem to be any doubt that the club has been running at a substantial loss this past year - more than the recent player sales can cover - and he's been paying the bills himself. He'll have been doing so on the form of loans to the club, and as far as you can gether it seems to have been those loands he wanted repaid as the first condition before he'd consider selling to McDougall. For as long as he insists on that, it'll be hard to see any way of making progress. Ah the good old directors friend the soft loan. I am amazed that everytime an owner or director of a club wants to sell up, they claim they must have all their investment paid back. 0 Quote Link to comment Share on other sites More sharing options...
EdinburghLivi Posted June 30, 2009 Share Posted June 30, 2009 Let's say we go into administration today. What is the process from there on in? Do potential buyers just bid for the club at figures around the debt? I wasn't really aware what was happening the last time we were in it. 0 Quote Link to comment Share on other sites More sharing options...
Ivo den Bieman Posted June 30, 2009 Share Posted June 30, 2009 (edited) Administrators would be appointed who would asses the club's debt, sell off what they can to reduce that debt, and try and find a buyer for the business. A buyer will need to be found by a certain deadline, failing which the company will be liquidated and any remaining assets sold off to try and pay off the accumulated debt, even if it is only a small part of it. The silence today (to be fair Massone has until 5pm) suggests that there is frantic last minute negotiation going on between interested parties. MacDougall is still interested according to the Scotsman, again he provides no reason as to his baffling interest in the club. I think that the players have been paid to keep the club up as a first division club, that may yet attract some interest or investment. As happened with Gretna last season, there would be zero interest from anyone in purchasing a newly demoted third division club with what is rumoured to be seven figures worth of debt. Massone is finished in the event of administration- all that will be left to him is a long series of dreary court cases in Edinburgh for petty sums of money which presumably he hoped Livingston FC would pay the bill. His dreams of a quick buck profit from whatever barking property deal he had in mind will be turned to ashes. It looks like the club just about has a pulse though. Edited June 30, 2009 by Ivo den Bieman 0 Quote Link to comment Share on other sites More sharing options...
Nizzy Posted June 30, 2009 Share Posted June 30, 2009 Ah the good old directors friend the soft loan. I am amazed that everytime an owner or director of a club wants to sell up, they claim they must have all their investment paid back. Fancy running that by the Dees? 0 Quote Link to comment Share on other sites More sharing options...
Fifes Elite Force Posted June 30, 2009 Share Posted June 30, 2009 Can anyone tell me what chairman hopes to achieve in all this? 0 Quote Link to comment Share on other sites More sharing options...
Yoss Posted June 30, 2009 Share Posted June 30, 2009 Fancy running that by the Dees? Sometimes soft loans really are just that. Abramovich gave all his cash to Chelsea as loans (and Mileson to Gretna) not because he expected to see any of it back but because it's apparently beneficial for tax reasons to do it that way. What Melville's thinking is I have no idea. 0 Quote Link to comment Share on other sites More sharing options...
Doink Posted June 30, 2009 Share Posted June 30, 2009 (edited) Well done Mr Massone on staving of administration. Admirable with all the negative publicity surrounding the club. Edited June 30, 2009 by Doink 0 Quote Link to comment Share on other sites More sharing options...
Guest Posted June 30, 2009 Share Posted June 30, 2009 Administrators would be appointed who would asses the club's debt, sell off what they can to reduce that debt, and try and find a buyer for the business.A buyer will need to be found by a certain deadline, failing which the company will be liquidated and any remaining assets sold off to try and pay off the accumulated debt, even if it is only a small part of it. The silence today (to be fair Massone has until 5pm) suggests that there is frantic last minute negotiation going on between interested parties. MacDougall is still interested according to the Scotsman, again he provides no reason as to his baffling interest in the club. I think that the players have been paid to keep the club up as a first division club, that may yet attract some interest or investment. As happened with Gretna last season, there would be zero interest from anyone in purchasing a newly demoted third division club with what is rumoured to be seven figures worth of debt. Massone is finished in the event of administration- all that will be left to him is a long series of dreary court cases in Edinburgh for petty sums of money which presumably he hoped Livingston FC would pay the bill. His dreams of a quick buck profit from whatever barking property deal he had in mind will be turned to ashes. It looks like the club just about has a pulse though. ...........and there has to be sufficient assets in place to pay the administrators.......................sta rting price will be around 50k. Gretna's administrators earned a lot more than that......... 0 Quote Link to comment Share on other sites More sharing options...
GoTeamGaz Posted June 30, 2009 Share Posted June 30, 2009 so close of buisness has come and gone ... whatnow? this can't go on any longer can it? If this isn't fully sorted it's self out by tommorow surley the SFL wont continue to sit on their hands? 0 Quote Link to comment Share on other sites More sharing options...
Ivo den Bieman Posted June 30, 2009 Share Posted June 30, 2009 I imagine the SFL's interest ended pretty much when the players were paid. With that hurdle out the way, of course, they will continue to "monitor the situation" and do absolutely nothing. 0 Quote Link to comment Share on other sites More sharing options...
Savage Henry Posted June 30, 2009 Share Posted June 30, 2009 Well done Mr Massone on staving of administration. Admirable with all the negative publicity surrounding the club. Erm.... oh, hang on. 0 Quote Link to comment Share on other sites More sharing options...
Rasta Ton Posted June 30, 2009 Share Posted June 30, 2009 (edited) I think it's the money rather than the face. Before Livi can move on, AM is going to have to accept that the money that he or his financiers have put into the club (which they have, in fairness) is down the drain and he's never going to see it again. He may well have put money in but I also suspect he'staken plenty more out. Look at the unpaid parking tickets. I'm sure there are a few expense claims in there that would make an MP look like Mary Poppins. Hugh Scott paid for a family holiday to Mallorca on the expenses of Morton. He also took a consultancy fee from the club for both him and his wife as "football & management consultants". It'll all come out in the wash of administration. 3 hours, 40 minutes and counting. Tick tock Tick tock Edited June 30, 2009 by Rasta Ton 0 Quote Link to comment Share on other sites More sharing options...
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