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

[oneteaminglasgow]

1 hour ago, Skyline Drifter said:

Fair enough, that must be a fairly recent change. Dodds and Chisholm didn't count when Dundee went into admin but other clubs did.

I like to think the SFL at the time just decided to exclude Billy Dodds because he’s a total fanny. 

[Mackie The Staggie]

Watched the video of the meeting last night, a few things caught my attention.

• Savage is of the belief that admin will right all the wrongs here.  Now I've never been involved with a business/club going through admin and I don't have access to the info Savage has.....but is he being a bit optimistic here?
• Even through Savages audit, there are questions he had which were unanswered.  He made a comment about how they will get answered under the admin process.  
• Savage is going to put in another £300k to get them through the Admin, with the whole thing costing about £400-500k.
• There seems to be £3.4 million in loans from directors which is unclear if they are being written off as such, with some of them looking for equity in the club instead but there's not enough equity to go around (if I understood what Savage said correctly)

 

[Skyline Drifter]

23 minutes ago, Buzz Killington said:

It was me that said season tickets would be cancelled but it seems that is very unlikely.  Deleighted to be wrong about that. 

I still don't beleive any of the first team squad will be safe from redundancies.  If the club is currently losing £200k per month then theres no chance that we will be keeping any players other than kids.

 

The administrator, assuming he thinks there's a trading business to be rescued from this (which there is) will need to ensure he has enough players to fulfill fixtures though. You don't have to name a full bench every week but realistically you'll need at least 18 - 20 eligible players to be sure of sticking 11 - 14 on the park every week. There's a limit to the extent they can just let all first teamers go. I assume you have more than 11 suitably registered kids and loan players but you need to allow for injuries, suspensions, those with any January or June resale value, the likelihood that loan players will have loans cancelled in January if bills aren't being paid and admin is ongoing (which it will be, you're not going in and out within three months no matter how amicable it all may be). Appreciate the definition of "first team" is in the eye of the beholder but I doubt you'll get rid of more than half your senior players. Unless you have an awful lot of kids. They will also have to balance the chances of avoiding relegation with the impact that may have on future value. Ultimately your first team has barely won a game this season. A team of kids might be deemed to be no worse or it might have to be accepted that with a 15 point deduction to deal with it makes relegation inevitable.

You got anyone currently out with long term injury? They'll likely be first against the wall too as harsh as that is. They will look to make redundant those who are unable to contribute anything worthwhile along with the highest paid.

Edited 17 hours ago by Skyline Drifter

[Sergeant Wilson]

25 minutes ago, Buzz Killington said:

It was me that said season tickets would be cancelled

Well I hope you're pleased with yourself!

[Steve Carrella]

The desire to compare administration impacts based on previous cases is pretty pointless. Although the process is firmly set the outcome is entirely variable.  Without going into each article there are a few stark realities.  Firstly, what is often overlooked is that bringing in an administration team is VERY expensive and they get paid first when the dust settles. Secondly,  and I think this could be the zinger, the administrator is required to examine and report on the actions of the directors and can demand repayment of monies if fault is found.

Thirdly, a new emerging company can become liable for employee entitlements even if they were made redundant earlier. Finally,  as highlighted by others, the existing directors are no longer in control once administration starts so it's not really wise for anyone to say what the way forward is prior to admin.

The outcome of any administration is unique to the particular circumstance and requires agile thinking - the key danger is assuming what the final report will look like.

[Carmel Wafer]

46 minutes ago, Buzz Killington said:

It was me that said season tickets would be cancelled but it seems that is very unlikely.  Deleighted to be wrong about that. 

I still don't beleive any of the first team squad will be safe from redundancies.  If the club is currently losing £200k per month then theres no chance that we will be keeping any players other than kids.

 

In a similar not similar situation, sounds a bit like Edinburgh City last season where most of the recognised first team players were released to find new clubs because wages couldn't be paid and a batch of Youngsters and Loan players came in.

[strichener]

The way Savage has been speaking about controlling admin would lead me to believe that the previous discussions with the accountants would have been around doing a pre-pack.  If this is the case then they would be in control of the process.

[ExiledLichtie]

4 minutes ago, strichener said:

The way Savage has been speaking about controlling admin would lead me to believe that the previous discussions with the accountants would have been around doing a pre-pack.  If this is the case then they would be in control of the process.

Is that the same Savage who said in August that Inverness' debt had been written off?

[strichener]

1 minute ago, ExiledLichtie said:

Is that the same Savage who said in August that Inverness' debt had been written off?

Yes, the same one although I don't see why that is relevant.  Getting people to convert debt for equity is entirely outside of his control (especially as he is not an officer of the company).  If he is going to fund the club through admin then he will have a significant input.  Let's see how it plays out.

[cb_diamond]

Genuinely hope ICT make it through this, your club dying is horrendous, I know that pain.

But also hope that if they don't make it or if it comes to a league vote on what happens with them then we show them exactly the same level of empathy they showed us in 2002 and vote against them in all and every situation.

Karma n'that

[The Moonster]

4 minutes ago, cb_diamond said:

Genuinely hope ICT make it through this, your club dying is horrendous, I know that pain.

But also hope that if they don't make it or if it comes to a league vote on what happens with them then we show them exactly the same level of empathy they showed us in 2002 and vote against them in all and every situation.

Karma n'that

Bit Rangersy m8.

[welshbairn]

14 minutes ago, cb_diamond said:

Genuinely hope ICT make it through this, your club dying is horrendous, I know that pain.

But also hope that if they don't make it or if it comes to a league vote on what happens with them then we show them exactly the same level of empathy they showed us in 2002 and vote against them in all and every situation.

Karma n'that

 

[Sir Tarmo]

It’s very evident that some rival fans don’t know much about Alan Savage

[martin ritchie]

Once in administration, is it as straight forward as Savage getting the keys to the kingdom afterwards or could someone else make a deal with the administrator. Surely the administrator is looking for the most money,  could someone potentially outbid Savage? 

[welshbairn]

1 minute ago, martin ritchie said:

Once in administration, is it as straight forward as Savage getting the keys to the kingdom afterwards or could someone else make a deal with the administrator. Surely the administrator is looking for the most money,  could someone potentially outbid Savage? 

I don't think Savage wants to buy the club, he's looking for outside investors.

[martin ritchie]

Ah gotcha @welshbairn. its not going to be as straight forward as some may think then. You would imagine there will be some interested parties that will need looked at to weed out the time wasters, fantasists etc 

[Worktheshaft]

So is big Ketan Makwana big in the back time?

[strichener]

17 minutes ago, martin ritchie said:

Once in administration, is it as straight forward as Savage getting the keys to the kingdom afterwards or could someone else make a deal with the administrator. Surely the administrator is looking for the most money,  could someone potentially outbid Savage? 

If a pre-pack has been agreed then there wouldn't be the opportunity for someone else to buy the business.

[welshbairn]

13 minutes ago, Worktheshaft said:

So is big Ketan Makwana big in the back time?

God I hope so, can't get enough of the guy..

On 26/07/2024 at 15:41, Stephen Malkmus said:

 

 

[Eadie is God]

2 hours ago, cb_diamond said:

Genuinely hope ICT make it through this, your club dying is horrendous, I know that pain.

But also hope that if they don't make it or if it comes to a league vote on what happens with them then we show them exactly the same level of empathy they showed us in 2002 and vote against them in all and every situation.

Karma n'that

Maybe they’ll just buy Airdrie and move them to Inverness.

Karma n’that

Edited 13 hours ago by Eadie is God