Takeover Rumours

Eh? I’m not sure you fully understand the administration process.

 

Alternatively he could just close the business down

 

In theory he could go as as far as to go down the Admin route. In reality he would be completely stupid to do so if he has any intention of getting his money back, if indeed he does want to sell the club. At the moment he'll be happy covering his outlay while making a small return as Sparks runs the club on a sustainable mandate.

 

I'll get my own back on those pesky fans. It'll cost me 6 million but yeah that showed em.

 

He bought a club on the cusp of the Championship that is now languishing in league 2.
Some ego trip that.

 

A possibility in theory but in reality it's even more daft that the admin route and probably a lot more difficult to actually achieve.

 

Standard for "normal businesses" is something like three times turnover. Not sure that works for a footy club

 

The ego left in October 2019. Not sure Rupp comes a cross as egotistical. Does he even speak ?

 

At the moment yes, the original point was if a boycott was to happen. Obviously less fans would mean either rupp funds it himself or takes on debts.

 

If like derby, city was saddled with masses of debt and noone wanted to take that debt on - he would have to put it in admin.

i don't think you have read the full conversation.

I never said he would do it willy nilly, (even though he could a la wigan.) the original point was if the club had a boycott. Which I alluded to in the post above regarding debts. Less fans less money possibly more debt.

 

Our turnover is probably about £3m so £9m value?

 

Nobody is going to boycott the club. I suspect the number of season ticket holders next season will be lower dependant on the second half or this season but the only club who are experiencing anything like a boycott are Oldham. And that's because they have an owner who has pushed them way further than Rupp has ever pushed us.

 

Elaborate? Pretty sure there aren’t any prequites to actually put a business into admin.

 

Im not saying they will… another poster was suggesting a boycott to shift things along in terms of a sale.

“How much is it worth if the fans were to boycott?

Further regression and it could become a possibility that he either walks away with nothing or decides to cut his losses, sell up and run.”

Really you should be saying to @NorthernMonkey

 

I plucked £3m just from doubling season ticket income. Not sure how accurate the 3times turnover to value is?

Just found this which would suggest the three times could be well out.
The next step is to multiply your average weekly sales by the number of weeks that equates to a fair value for the business. This varies by sector, so for a hair salon it’s between 10 and 15 weeks, while for restaurants it could be as many as 30 weeks.

 

“You can put your company or limited liability partnership (LLP) into administration if it’s in debt and can’t pay the money it owes.

From https://www.gov.uk/put-your-company-into-administration

by the way “cant pay the money it owes” doesn’t mean rupp cant afford it it purely means the business is not getting the money needed to pay off debts. Ie rupp stops funding the club. You could put a business in admin over a £1 debt. Obviously that would be pointless but can be done.

 

@Dennis FYI too

Bradford city by law have to post accounts to companies house which can be viewed here

not much of an accountant but lots of losses it looks like last year. which if read correctly look to be about -£3,000,000. probs due to covid. makes sense why we have little in terms of a transfer budget.