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

[ICTChris]

2 hours ago, The Moonster said:

Those 4 people are still people. There's also a management team now redundant, regardless if you liked them or not. There were mentions earlier in the thread that some folk view administration as a quick and easy way out and the Caley fans were quick to suggest they knew it wouldn't be quick or easy. I'm not sure trivialising the fact that only a few people have lost their job so far is a good look. There might also be further redundancies if investment isn't forthcoming. 

Alan Savage owns a recruitment company, specialising in the oil industry.  I'm sure he can hook Cameron Ferguson up with a suitable gig.

[eez-eh]

3 hours ago, TheScarf said:

It's all about reducing the deficit

[TheScarf]

43 minutes ago, eez-eh said:

I did think of something similar as I was typing it. 

[TheScarf]

49 minutes ago, ICTChris said:

Alan Savage owns a recruitment company, specialising in the oil industry.  I'm sure he can hook Cameron Ferguson up with a suitable gig.

Dinner lady on an oil rig imo.

[Stephen Malkmus]

1 hour ago, Broath Boy said:

Correct, because Arbroath are fkin loaded and also pay there way.

If the rest of the country accepted usernames with 'Lichtie' in them as a form of currency then this would be spot on.

[Sir Tarmo]

Brooks should get a full time Champ/League 1 club no bother. Wallace Duffy probably can but I’d say he was on the edge of being a full time footballer anyway. 
 

Flynn Duffy is injured but was a brutal footballer anyway along with Cameron Ferguson and Jack Newman. None of the 3 were likely to be full time footballers in the next few years.
 

It’s a shame these guys have lost their jobs but with the way the club was run and the consequences we have to face that’s just life. 

[welshbairn]

2 hours ago, Doc Holiday said:

How much is the administrator costing a day? 

The top ones used to get £500 per hour, the three of them will be on different rates according to seniority.

[ICTChris]

Just been checking on the levels of redundancies in previous administrations

Hearts - Five players, fourteen office staff

Dunfermline - Eight first team players, three youth players

Dundee - Nine first team players, management team

 

[forkboy]

2 hours ago, Doc Holiday said:

How much is the administrator costing a day? 

The bare minimum, for a small business, you're looking at between £5,000 & £10,000 a day. How much for a notable firm like BDO, sending up 3 partners, & who knows what other staff, while dealing with a fairly niche business like a football club? We'll probably never know. But BDO won't come cheaply, so it's a good job that Alan Savage has said he'll be meeting those costs. There's a reason administration isn't something you go into lightly.

[Buzz Killington]

27 minutes ago, forkboy said:

The bare minimum, for a small business, you're looking at between £5,000 & £10,000 a day. How much for a notable firm like BDO, sending up 3 partners, & who knows what other staff, while dealing with a fairly niche business like a football club? We'll probably never know. But BDO won't come cheaply, so it's a good job that Alan Savage has said he'll be meeting those costs. There's a reason administration isn't something you go into lightly.

The administrators reports will show their fees split by category and rate per hour and they'll be available on the Companies House website once lodged with them.

eg Hearts ones are here. Hearts admin cost three quarters of a million pounds.  There's every chance that 500 large Sir Savage gave the club may not even cover the administrators fees.

We'll also get to see who all the creditors are and what the clubs income and expenditure is during administration.

Edited 13 hours ago by Buzz Killington
to add more detail

[welshbairn]

17 minutes ago, forkboy said:

The bare minimum, for a small business, you're looking at between £5,000 & £10,000 a day. How much for a notable firm like BDO, sending up 3 partners, & who knows what other staff, while dealing with a fairly niche business like a football club? We'll probably never know. But BDO won't come cheaply, so it's a good job that Alan Savage has said he'll be meeting those costs. There's a reason administration isn't something you go into lightly.

It's odd that fee structure means that it's in the administrator's interest to keep the process going as long as possible, though I guess their reputation and future jobs rely on them being as efficient as possible. 

[forkboy]

10 minutes ago, Buzz Killington said:

The administrators reports will show their fees split by category and rate per hour and they'll be available on the Companies House website once lodged with them.

eg Hearts ones are here

You're right, I should have said "we'll not know until Caley are out the other side of this", stupid mistake.

Reading those Hearts filings, I'd forgotten or wasn't aware that unsecured creditors got nothing from the Hearts CVA. That's unfortunate.

[parsforlife]

3 hours ago, welshbairn said:

It's odd that fee structure means that it's in the administrator's interest to keep the process going as long as possible, though I guess their reputation and future jobs rely on them being as efficient as possible. 

They are also regulated to f**k.  They're not council workers eeeking out a job so the can get some overtime, they just wouldn't get away with it and when your raking in the sort of money they do your not risking it all to log a few more hours.

Edited 10 hours ago by parsforlife

[Broath Boy]

1 hour ago, Stephen Malkmus said:

If the rest of the country accepted usernames with 'Lichtie' in them as a form of currency then this would be spot on.

Yes, the Lichtie pound is accepted and well respected throughout Scotland.

[Otis Blue]

3 hours ago, DiegoDiego said:

At some point every club may have needed a cash injection, or failed to win a cup, o I think it's best if nobody comments on finances at all, or even team performances. That is, unless they support Real Madrid, Bayern Munich, Arbroath or Queen of the South.

Yep, there's no doubt that most clubs below the "promised land" (aka Premiership cartel) struggle to make ends meet and regularly sail close to the financial wind - hence why I'm not dancing with joy at ICT's calamity, folk in glass houses and all that stuff.

Kinda related (somehow) to your point above - the one year QOS made it to the Big Cup Final (2008) was also coincidentally the one bloody year there was no main sponsor in recent times, so we drew a financial blank there ... so typically QOS.

[The Black Flag]

The PFA Scotland are to open legal action against Inverness CT on behalf of the players made redundant.

It's not expected to affect the administration process.

[Comrie]

23 minutes ago, Otis Blue said:

Yep, there's no doubt that most clubs below the "promised land" (aka Premiership cartel) struggle to make ends meet and regularly sail close to the financial wind - hence why I'm not dancing with joy at ICT's calamity, folk in glass houses and all that stuff.

Outside the established bigger clubs (The OF, the Edinburgh two, Aberdeen and the Dundee clubs if they were run properly) I think most teams in Scotland outwith that could struggle without too much changing.

Edited 12 hours ago by Comrie

[btb]

Sorry if I've missed this but with Big Dunc being fired does that make him a creditor now, on gardening leave with full wages?

 

On the other hand as I predicted when he was appointed it was a white knuckle ride while it lasted.

Edited 12 hours ago by btb

[SandyCromarty]

22 minutes ago, The Black Flag said:

The PFA Scotland are to open legal action against Inverness CT on behalf of the players made redundant.

It's not expected to affect the administration process.

The PFAs Fraser Wishart was at the club yesterday, the club in administration did not make any employee redundant that was the function of the Administrators.

[SandyCromarty]

2 hours ago, Sir Tarmo said:

Brooks should get a full time Champ/League 1 club no bother. Wallace Duffy probably can but I’d say he was on the edge of being a full time footballer anyway. 
 

Flynn Duffy is injured but was a brutal footballer anyway along with Cameron Ferguson and Jack Newman. None of the 3 were likely to be full time footballers in the next few years.
 

It’s a shame these guys have lost their jobs but with the way the club was run and the consequences we have to face that’s just life. 

The ship is mightier than the crew.