"The ICT Thread - From the Premiership to the Seaside"

[Skyline Drifter]

13 minutes ago, oneteaminglasgow said:

Presumably there’s a mechanism in his contract which means punting him now saves money versus him seeing out his full contract.

There will be no clause in the contract and It won't save any money in terms of the gross wage but it will defer it significantly. He's a creditor and will be paid in full as a football creditor but he might wait months for it. In the meantime they aren't having to find the cash.

There will be an NI saving also for paying him off rather than earning it monthly.

[Doc Holiday]

It's a real shame what's happened to your club, all the best for the rest of the season and beyond. 

[Zen Archer (Raconteur)]

The only thing left not nailed down were the toilet rolls.

[Sensible Soccer🏴]

1 hour ago, Comrie said:

I thought they had to come to an agreement of some kinds (usually a percentage).

Apparently not football debt, such as DF's wages.

[CALEDONIAN108]

[Sir Tarmo]

Ferguson gone is fantastic news, we were guaranteed relegation under that negative no-hoper. I’m not sure Kellacher is really the answer but it’s probably all they can do. Can only hope the players really respect him (like they have in previous eras) and give it everything for him. They certainly respect McKay. Staying up is now a possibility, no matter how slim. It wasn’t a remote possibility under Ferguson. 

[ICTChris]

43 minutes ago, PB1994 said:

Aye talk about kicking the can further down the road and making an even bigger mess.

Morrison deciding to pull funding because we weren’t going to train at Kelty. What a child he is.

The board from about 2018 have all been living in a fantasy land, telling themselves stories about how they are going to do this and do that.  This is another one of those - if we'd gone to Kelty we'd have been funded, stayed full time, had loads of players, have won promotion.  None of that would've happened, we'd have been in a worse position and likely would have been in administration anyway.

[invergowrie arab]

16 minutes ago, Skyline Drifter said:

There will be no clause in the contract and It won't save any money in terms of the gross wage but it will defer it significantly. He's a creditor and will be paid in full as a football creditor but he might wait months for it. In the meantime they aren't having to find the cash.

There will be an NI saving also for paying him off rather than earning it monthly.

As well as any performance related bonuses. Although admittedly that probably hasnt been much of an issue to date.

[Central Belt Caley]

Looking forward to seeing Billy McKay played as a striker again

[AtTheBorderGuy]

I've not had the time to read it in detail, but p61 onwards of this seems to explain the essential debts administration has to cover to retain SPFL status:

https://spfl.co.uk/admin/filemanager/images/shares/pdfs/SPFL Rules and Regulations 14-Oct-22 (MASTER COPY) CLEAN.pdf

I've only had a brief skim, so this may be bollocks, but do the infamous "football debts" only mean contracted earnings of players and coaching staff (which can be renegotiated with the administrators)? The only other essential seems to be HMRC, as far as I can see? I'm assuming there's probably something about payments due to other clubs in there somewhere...

Edited 4 hours ago by AtTheBorderGuy

[Connor Macleod]

1 hour ago, Central Belt Caley said:

f**k me.

The club had a plan to be funded for another 12 months - so what happens after that? Moron

You had 6 players ready to come up - probably all centre halves and probably all shite anyway

Very fitting you were carrying your stuff out the stadium in a box for toilet papers, fud. Don’t let the door hit you on the way out

 

I love how he's about to say "Coming up to the Highlands" before he stutters a bit & changes it to "The Club" 

[blackislekillie]

Hope you guys get out of this healthier and stronger as a club. I've always enjoyed my trips over the bridge to see Killie but rarely enjoyed a positive result . The incompetence of those supposed to be running your club in recent years is staggering. All the best. 

[Todd_is_God]

2 hours ago, shizzlemanizzle said:

The SFA are not in any position to have opinions on rules and regulations regarding administration given the way they handled Rangers liquidation. According to the SFA, ICT just need to be liquidated and parachuted into league 2. Free of previous financial obligations but with their history intact. Which is obviously bullshit.

I'm no fan of Rangers, but that's not quite true is it? Their demise meant there was a vacant spot in the SPL, which SPL clubs voted against Rangers filling. This then afforded Dundee the opportunity to fill it, leaving a vacant spot within the SFL, which any club, however old, was welcome to apply to fill.

From those that did, the SFL member clubs chose Rangers.

Edited 4 hours ago by Todd_is_God

[Connor Macleod]

10 minutes ago, CALEDONIAN108 said:

[bagpuss]

Hopefully for ICT fans this is the lowest point and the road back starts today, however long that ends up taking.  

[welshbairn]

23 minutes ago, Skyline Drifter said:

There will be no clause in the contract and It won't save any money in terms of the gross wage but it will defer it significantly. He's a creditor and will be paid in full as a football creditor but he might wait months for it. In the meantime they aren't having to find the cash.

There will be an NI saving also for paying him off rather than earning it monthly.

I'm dubious about the legality of the SFA forcing preference to football creditors over others. If I was an ordinary creditor I'd be well miffed anyway, or one of the sacked non-football employees.

[PB1994]

14 minutes ago, ICTChris said:

The board from about 2018 have all been living in a fantasy land, telling themselves stories about how they are going to do this and do that.  This is another one of those - if we'd gone to Kelty we'd have been funded, stayed full time, had loads of players, have won promotion.  None of that would've happened, we'd have been in a worse position and likely would have been in administration anyway.

Even if we did get promoted, which I agree wouldn’t have happened, what then? Yes back in the championship but with another million in debt added on and presumably nobody to fund the club. As you say everything would have ended up at Administration anyway and the longer it went on the more likely it would have progressed to Liquidation as the next scheme they decided to get involved in would no doubt have been a massive failure.

[Connor Macleod]

42 minutes ago, MazzyStar said:

Polworth would never have tried that with Yogi 

[PB1994]

18 minutes ago, Central Belt Caley said:

Looking forward to seeing Billy McKay played as a striker again

He is the new assistant manager apparently so he’s only got himself to blame if he isn’t a striker now.

[Mark Connolly]

3 hours ago, DA Baracus said:

What would his music actually be?

I'd got for the music Homer has when he runs for Sanitation Commisioner and has the debate with old man Paterson.

This feels like a tremendous idea for a thread