Stephen Malkmus Posted Tuesday at 06:26 Share Posted Tuesday at 06:26 The state of this forum when Mr. Savage seals the UAE deal next Tuesday 1 Quote Link to comment Share on other sites More sharing options...
Ranaldo Bairn Posted Tuesday at 06:53 Share Posted Tuesday at 06:53 How can this Savage lad claim they will be in control if administration happens? The whole point is that an err, administrator takes over and tries to sell it or come to an agreement with creditors. 2 Quote Link to comment Share on other sites More sharing options...
Sir Tarmo Posted Tuesday at 06:54 Share Posted Tuesday at 06:54 Just now, Ranaldo Bairn said: How can this Savage lad claim they will be in control if administration happens? The whole point is that an err, administrator takes over and tries to sell it or come to an agreement with creditors. Probably because that’s not what he said 0 Quote Link to comment Share on other sites More sharing options...
Ranaldo Bairn Posted Tuesday at 06:57 Share Posted Tuesday at 06:57 2 minutes ago, Sir Tarmo said: Probably because that’s not what he said Aye? he stated his view that administration would be the best way forward. He described it as “the better of two evils” when compared to liquidation. He explained, should administration happen, his Orion Group will try to find people jobs if they are let go by ICT and will help suppliers, but insists they would go into administration “in control”. 0 Quote Link to comment Share on other sites More sharing options...
Sir Tarmo Posted Tuesday at 07:01 Share Posted Tuesday at 07:01 2 minutes ago, Ranaldo Bairn said: Aye? he stated his view that administration would be the best way forward. He described it as “the better of two evils” when compared to liquidation. He explained, should administration happen, his Orion Group will try to find people jobs if they are let go by ICT and will help suppliers, but insists they would go into administration “in control”. Going into administration “in control” is not saying we will be in control whilst in administration. 0 Quote Link to comment Share on other sites More sharing options...
Ranaldo Bairn Posted Tuesday at 07:07 Share Posted Tuesday at 07:07 Sophistry. What does he expect to be in control of at that point? 0 Quote Link to comment Share on other sites More sharing options...
bdu98196 Posted Tuesday at 07:14 Share Posted Tuesday at 07:14 (edited) 21 minutes ago, Ranaldo Bairn said: Savage lad administrator takes over and tries to sell it Keep thinking, you'll get it in the end - although probably a consortium rather than just him Edited Tuesday at 07:15 by bdu98196 0 Quote Link to comment Share on other sites More sharing options...
mozam76 Posted Tuesday at 07:15 Share Posted Tuesday at 07:15 5 minutes ago, Ranaldo Bairn said: Sophistry. What does he expect to be in control of at that point? Administrator comes in and negotiates deals with creditors. My guess is that Savage has been dealing with creditors for weeks now and that deals are already agreed, meaning no surprises when the administrator offers a creditor a figure. That’s my reading of them entering into administration as being in control. 0 Quote Link to comment Share on other sites More sharing options...
Sir Tarmo Posted Tuesday at 07:18 Share Posted Tuesday at 07:18 (edited) 12 minutes ago, Ranaldo Bairn said: Sophistry. What does he expect to be in control of at that point? 5 minutes ago, bdu98196 said: Keep thinking, you'll get it in the end - although probably a consortium rather than just him 4 minutes ago, mozam76 said: Administrator comes in and negotiates deals with creditors. My guess is that Savage has been dealing with creditors for weeks now and that deals are already agreed, meaning no surprises when the administrator offers a creditor a figure. That’s my reading of them entering into administration as being in control. That’s potentially true. Given Savage has wanted admin since August, has promised to cover the costs, has promised to keep some redundant staff in jobs through Orion, and previously was happy to run the club alone on the basis the former directors wrote off their loans, it’s fairly clear he has a plan in his mind post-admin, but only he really knows what he meant. However, he did not ever say we would be in control during administration. It’s not sophistry just because you can’t read. Edited Tuesday at 07:20 by Sir Tarmo 2 Quote Link to comment Share on other sites More sharing options...
Stephen Malkmus Posted Tuesday at 07:22 Share Posted Tuesday at 07:22 The ex-directors we owe have been willing to do a deal, hence the positive noises at various points over the past couple of months. The issue has been that we couldn't create enough new shares to convert their debts into equity. The incentive for them to do a deal now is still there as without it they will lose all their money. There's no chance they'll force the club into liquidation as they're fans of the club. 0 Quote Link to comment Share on other sites More sharing options...
bdu98196 Posted Tuesday at 07:30 Share Posted Tuesday at 07:30 5 minutes ago, Stephen Malkmus said: The ex-directors we owe have been willing to do a deal, hence the positive noises at various points over the past couple of months. The issue has been that we couldn't create enough new shares to convert their debts into equity. The incentive for them to do a deal now is still there as without it they will lose all their money. There's no chance they'll force the club into liquidation as they're fans of the club. But they have all the rights to the BF cash (if it comes through) and fans or not, cash and individual goals will likely take precedent. If the club goes into admin they may take a' crap' settlement deal if they are told the BF cash is theirs to keep and they F-off? 0 Quote Link to comment Share on other sites More sharing options...
PB1994 Posted Tuesday at 07:32 Share Posted Tuesday at 07:32 1 hour ago, Savage Henry said: Right. Gordon Fyfe seems a bit simple minded as well. I’m not quite sure what he does on the board, but clearly he was very pally with Gardiner. Seems to be a lot of “it wasn’t me” from folk who should have known better. I said before, if ICTFC is paying Puma £125,000 for kits, that must go down as the worst kit deal in history. You could go to one of those third party providers - as many clubs do - and not pay anything remotely close to that. Bizarre. The youth team thing fits what I’ve heard about Duncan Ferguson from current employees at ICT - he doesn’t even watch the youth team games and has absolutely no interest in their development. After training - 10-12, no double sessions - he disappears and Ross Jack and Gary Bollan are left to work with the kids and rehabbing players. Gordon Fyfe didn’t really say much at all at the meeting and what he did say was bizarre. He made some speech about how great the community trust is and all the amazing work they do, which he is in charge of. He is quite right about the work they do and as they are a separate entity to the club all that work will carry on but it was just the totally wrong thing to be talking about last night. It did seem to be a bit of a dont blame me type thing. Charlie said when we were in the championship we only needed about £60k worth of kit/merchandise to cover what would be sold so this deal made no sense if you are planning for the championship but for League 1 it is just madness. There has to be something going on with that. 2 Quote Link to comment Share on other sites More sharing options...
Buzz Killington Posted Tuesday at 07:42 Share Posted Tuesday at 07:42 The most horriffic part of the night for me wasn't the Gardiner revalations. At one point the Interim Chairman asked for a show of hands for the preference between two options. 1. Someone takes over the club in the next 9 days or 2. Administration. The result was about 50:50 for each option. That's right half of the people who raised their hand would prefer admin over being taken over before admin. There are a lot of fans who seem to think the whole administration lark will be a simple thing that solves everything. 3 Quote Link to comment Share on other sites More sharing options...
Central Belt Caley Posted Tuesday at 07:43 Share Posted Tuesday at 07:43 Meetings online now, fill your boots 0 Quote Link to comment Share on other sites More sharing options...
Savage Henry Posted Tuesday at 07:48 Share Posted Tuesday at 07:48 13 minutes ago, PB1994 said: Gordon Fyfe didn’t really say much at all at the meeting and what he did say was bizarre. He made some speech about how great the community trust is and all the amazing work they do, which he is in charge of. He is quite right about the work they do and as they are a separate entity to the club all that work will carry on but it was just the totally wrong thing to be talking about last night. It did seem to be a bit of a dont blame me type thing. Charlie said when we were in the championship we only needed about £60k worth of kit/merchandise to cover what would be sold so this deal made no sense if you are planning for the championship but for League 1 it is just madness. There has to be something going on with that. The two guys who run the bulk of the community trust thing are absolute credits to your team. I have no idea how much support they get from the club itself, but I hope whatever the result whatever they do is unaffected. 1 Quote Link to comment Share on other sites More sharing options...
Sir Tarmo Posted Tuesday at 07:57 Share Posted Tuesday at 07:57 14 minutes ago, Buzz Killington said: The most horriffic part of the night for me wasn't the Gardiner revalations. At one point the Interim Chairman asked for a show of hands for the preference between two options. 1. Someone takes over the club in the next 9 days or 2. Administration. The result was about 50:50 for each option. That's right half of the people who raised their hand would prefer admin over being taken over before admin. There are a lot of fans who seem to think the whole administration lark will be a simple thing that solves everything. Probably because they didn’t understand what they were being asked. A take over is ideal but very unlikely to happen. 0 Quote Link to comment Share on other sites More sharing options...
gannonball Posted Tuesday at 08:07 Share Posted Tuesday at 08:07 11 hours ago, oneteaminglasgow said: That’s f**king mental. What possible justification could he possibly have for doing that? Like, the other stuff is just clearly him not being good at his job, but I legitimately cannot f**king understand how a sentient being would possibly think this made sense. In terms of mental, it’s up there with our former chairman saying they didn’t want the fans putting money into the club with no expectation of anything in return. 11 hours ago, forkboy said: At that point it goes from incompetence to sheer maliciousness. What possible reason could there be for turning down a fee? I’m absolutely guessing here but could it be that he forgot to make a formal offer for the player to stay? It’s happened before (albeit rare) that the club have only made verbal offers to a young player then he’s entitled to leave for nothing as they forgot to document it properly. 0 Quote Link to comment Share on other sites More sharing options...
EdinburghBlue Posted Tuesday at 08:19 Share Posted Tuesday at 08:19 56 minutes ago, Stephen Malkmus said: The ex-directors we owe have been willing to do a deal, hence the positive noises at various points over the past couple of months. The issue has been that we couldn't create enough new shares to convert their debts into equity. The incentive for them to do a deal now is still there as without it they will lose all their money. There's no chance they'll force the club into liquidation as they're fans of the club. Call an EGM and pass a resolution to allow more shares to be issued. 0 Quote Link to comment Share on other sites More sharing options...
silver Posted Tuesday at 08:29 Share Posted Tuesday at 08:29 Sad times for ICT. I have had some great, and sometimes awful, days at the 'Dump'. The two games that spring to mind are the 3-3 draw and the 1-5 win, the bad ones I try to forget. Clubs need a rival and goodness only knows when we will be able to lock horns again. Its a shame and I hope we can be reaquainted once again when all this is over. Good luck. 3 Quote Link to comment Share on other sites More sharing options...
bdu98196 Posted Tuesday at 08:32 Share Posted Tuesday at 08:32 (edited) 51 minutes ago, Central Belt Caley said: Meetings online now, fill your boots Watching the video, overall they got a fairly easy ride TBH. AS spoke well but that I feel protected the vitrol towards the directors and gave them an out to pass everything over to Alan or Charlie knowing they are more palatable to the fanbase. All the directors have done is blame others, no point saying 'we take responsibility now' & 'we cant look back'. Its too late as where was the ownership of responsibilities during their time - IMO however we restructure or end up there needs a clear out with Bennett & Fyfe and any of the historical legacy gone too. Edited Tuesday at 08:35 by bdu98196 0 Quote Link to comment Share on other sites More sharing options...
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