Administration

[Matty]

I’m not familiar with the whole process myself but, if we were to enter admin would it mean that swann wouldn’t have a say in the choosing of a buyer? Is that down to the administrators to select the best offer put forward? Potentially a more realistic one that Swann has been holding out for!

Also, does anyone know if it entails a points deduction in this league?

[Ironawe]

Points deduction and Admin would have control of company to sell company
deal with creditors etc. Coolsilk own land so would not be under Admin- so he would charge whatever he liked – despite saying they would be able to use ground/transferred for free – we all know that’s not happening. The only sure thing is the best interests of Swanns and not the club will be his main motive.

The long term hope is Admin – somebody buys the club for £1 and moves it to a new ground using £6m to build somewhere
else with support of the council.

6 users thanked author for this post.

StainlessIron, RoamingBull, IRONINTHEBLOOD, North Lincolnshire Irons, alcazar, bartonscorpion

[Iron-awe]

I think the Donny method will be the best way forward if all of this comes to pass. New housing estate within three years at GP site.

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waltersleftfoot, alcazar

[Ironawe]

I fear you are right, there is no desire from Swann to keep the club afloat and most now see through his empty speak. He’s a busted flush in this town with zero credibility

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IRONINTHEBLOOD, waltersleftfoot, StainlessIron, North Lincolnshire Irons, alcazar, Iron-awe

[Cliff Byrne’s Right Peg]

As it stands- as far as I’m aware- we have no major debts to creditors, which is usually the biggest obstacle to exiting administration with a CVA.

Things could change significantly if Swann decides to stop covering losses, which I’m still at a loss about because he stated we would be sustainable this year.

[cassidystash]

Maybe no debts but do we have any assets?

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IRONINTHEBLOOD

[billpuntonsghost]

“…new ground… with support from the council”!

[Northumbiron]

I’m sure they could run to a set of goalposts and 350 metres of fencing!

[Ironawe]

Support from council could mean planning, land covenants, would not suggest for one minute we would get those millions of levelling up funds that have served us so well so far

[billpuntonsghost]

..”get those millions of levelling up funds that have served us so well so far.”
I didn’t realise the council had been oh so helpful in the past.

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IRONINTHEBLOOD

[Iron-awe]

Those levelling up funds 😂 will go into town projects the Tories deem gives them the most kudos, the percentage of townsfolk going to watch the Iron is not that high so don’t expect any favours from them. The club will have to push the community stadium with lots of goodies for the town and surrounding area involved, a good PR push may get a sniffle of interest but don’t hold your breath.

[cassidystash]

Walton has stated, in the past, the importance of a football team to the town. (He might have said a league football team at the time) As with most politicians you have to take that with a pinch of salt, but he could have the chance to back up his statement, under new ownership of course.

[Awaywego]

The government web page, “putting your company into administration” does state that you need to be in debt first before going into admin, and the company cannot be wound up while in administration lol, the only person who as threatened the club with admin or liquidation was St Wharton has Swanny mentioned it lol.

[Xxx]

In 10 or 15years time some of you won’t be here also me the land will be still there and there wil be houses stop moaning we are going busy that’s how it is

[Xxx]

Bust

[bartonscorpion]

Xxx wrote:

In 10 or 15years time some of you won’t be here also me the land will be still there and there wil be houses stop moaning we are going busy that’s how it is

Hell XXX, 10 to 15 months will be a bonus mate, but I do feel very sad how my little club for 70 years, has been wrecked and taken out of existance by that big fat, greedy, evil guy, that has driven it purposly that way.

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IRONINTHEBLOOD, waltersleftfoot, alcazar, North Lincolnshire Irons, Xxx

[Awaywego]

I see were back to telling us about the 70yrs again, though I do have memory problems, how many years was it?

[CMC]

Ironawe wrote:

Support from council could mean planning, land covenants, would not suggest for one minute we would get those millions of levelling up funds that have served us so well so far

Grimsby’s new owner thinks Levelling up money will pay for a new ground for them, good luck with that!

[Awaywego]

It will there going to share ours.

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alcazar

[Deereyme66]

Awaywego wrote:

I see were back to telling us about the 70yrs again, though I do have memory problems, how many years was it?

Lol, I’ve got memory problems, sure you’ve only told all that you were a shop steward once and not a dozen times

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TwoWrights, bartonscorpion, alcazar, Awaywego

[Anonymous]

I don’t think we will go in to Administration.
I think long term, it’ll either be sold or dissolved.

[Awaywego]

And there was me thinking I hadn’t told anybody Deerey.

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Deereyme66

[CMC]

Anonymous wrote:

I don’t think we will go in to Administration.
I think long term, it’ll either be sold or dissolved.

We couldn’t afford Administration to be honest. in the NLN next season the football operation will probably be wound up and then the Vultures will pounce.

[Cliff Byrne’s Right Peg]

CMC wrote:

Renee.Artois wrote:

I don’t think we will go in to Administration.
I think long term, it’ll either be sold or dissolved.

then the Vultures will pounce.

I hope they like bones, because the Swann has the meat

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alcazar, bartonscorpion, Northumbiron

[bartonscorpion]

Awaywego wrote:

I see were back to telling us about the 70yrs again, though I do have memory problems, how many years was it?

I think that you have used the wrong word there Awaywego, maybe mental problems instead of the memory problems used would have been more fitting.

[Awaywego]

Both fit the bill to be honest.

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bartonscorpion

[Iron-awe]

Rather ironic comment there from BS.

1 user thanked author for this post.

bartonscorpion

[bartonscorpion]

Ironawe wrote:

I fear you are right, there is no desire from Swann to keep the club afloat and most now see through his empty speak. He’s a busted flush in this town with zero credibility

I am very sad to say, but what I predicted over a year ago, is very quickly coming to face us all, this man is evil, and I feel that he actually gets pleasure in what he has done to our club over the years, he still insists that it is the fans that have caused problems. He will not leave the club without money and liquidation is the easiest way for him to gain the land package that he took from the club to pay for all his errors.

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premier iron

[Northumbiron]

Get a documentary film crew in to record the whole messy affair.

Should be good for a few grand!

[Ferrite]

As I understand it, administration is a procedure whereby the appointed administrators are given the task with keeping an insolvent company running with a view to finding a buyer.

[Author]

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