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Thursday. Watch that space!

Discussion in 'City Talk' started by Bigrod, Mar 24, 2019.

  1. Bigrod

    Bigrod Captain
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    There has been a lot of talk about:
    • Debt incurred by the club.
    • Rupp not having any affinity with Football/Bradford.
    • The lengthy and expensive Contracts of some of our current players.
    • Lack of assets owned by the club.
    • Lack of take up of Season Tickets etc.
    Several posters have suggested that the club could go into administration! Well if this were to happen, then the Thursday is the big day. The Club would have to go into Administration by the ‘Fourth Thursday’.

    12.3.3
    Subject to the provisions of Regulation 12.3.4 below, where the Club becomes subject to or suffers an Insolvency Event, or the Board impose a deduction in accordance with Regulation 12.3.2: a)
    during the Normal Playing Season but prior to 5.00pm on the fourth Thursday in March, the points deduction shall apply immediately;

    So if this is to occur, then Thursday is the deadline. Watch this space as they say.
     
  2. How

    How Knows Football
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    The players are being paid.

    Why would we go into admin?
     
  3. bantam316

    bantam316 Fringe Player
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    Rupp doesnt want to know ‍♂️
     
  4. Bigrod

    Bigrod Captain
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    I think it is a little more complex than that.
     
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  5. How

    How Knows Football
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    Oh please explain to the little unworthy ones?

    Rupp is covering it this season. Nothings changed to suggest he would not. He’d be so naive to use “admin” as a get out clause and I don’t think he’s that stupid
     
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  6. Hulmebantam

    Hulmebantam Squad Player
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    @Dennis@Dennis might be able to confirm this. But I don't think Mr Rupp is personally liable for any debt at the club.

    He must know he is not getting a ROI in the short or medium term. If he wants to sell the business, then next seasons liabilities are not very attractive to any buyer. Hence not covering the loss, go into admin and not lose any more money.

    Only a theory but let's see what this week brings.
     
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  7. Bigrod

    Bigrod Captain
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    No one has said that any one is ‘unworthy’, never mind the size of posters!

    The outgoings and bills are far greater than just the playing staff.
     
  8. Idlebantam

    Idlebantam Squad Player
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    I have no idea why the admin rumours keep surfacing. There isnt even a hint of us not being able to cover wages, rent or tax bills, so where do these theories come from?
    ...
     
  9. Captain Black Adder

    Captain Black Adder Fringe Player

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    Love all the people saying, “Rupp is not that stupid” or something similar. This is the fool who let Edin Rahic have a free reign in destroying this club from top to bottom. I wouldn’t put anything past Rupp.
     
  10. Rogered Tart

    Rogered Tart Regular Starter
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    It's certainly an option, one that has been mentioned at Valley parade.
     
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  11. Fools Gold

    Fools Gold Squad Player
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    He gets away Scot free . I don’t understand why . He’s a pillock like edin
     
  12. trevor

    trevor Squad Player
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    Admin is a poor choice and would be surprised if we took that route despite Rhodes affinity to it the German will not do it, We will be sold before the start of next season maybe before if a price can be agreed
     
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  13. Dennis

    Dennis Captain
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    I've looked and looked at Companies House filings and i can see no evidence of any further significant investment made by Rupp into the club. He hasn't injected any more equity capital nor has he provided the club with a secured loan from himself, the German Holdco or any of his other investment companies. He may well have put some additional working capital in to sustain the club in the short term but i doubt it would be significant and certainly not millions. His get out of jail card so far imo has come from the sell on fees from Wells' move to Burnley and Wisdom's to Derby. Even Rhodes in his interview with Richard Sutcliffe in the YP refers to Rupp 'pledging' to cover any deficit which suggests the club has yet to see any of his own money.

    On the issue of administration, it makes no business sense for Rupp to do this. If he did, he'd be virtually guaranteed to see none of his investment ever again whether his original €6mill or anything else he may have put in since there are no secured loans registered in his name. If Rupp appoints an administrator, he will lose everything. If he really does want to get out, Rupp would be better selling for whatever he can get from JR or anybody else for that matter or even just giving it away to some unsuspecting fool!
     
  14. Park bantam

    Park bantam Regular Starter
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    Roger sets out where we are in the other thread. We are in a bad situation but it doesn’t sound like imminent admin


    Why would Gordon have to be interested, Two Legs? He has already had twice the amount he paid for the Stadium back in rent and sits on a residual value of the site (admittedly a small value) if it was to go for some other use, affordable housing being the obvious. Plus he would/could draw the value from the scrap steel, subject to market conditions, when the site was cleared and re-invest the whole into something else for the Flamingoland Pension Fund.
    In terms of moving grounds can I take you back to PP's first season when we escaped relegation to the Conference. If we had been relegated I can tell you the morning after the last game would have seen BCFC cease to exist so if you're thinking of two relegations now and a climb back, in my humble opinion, forget it, not going to happen.
    But as they all say, where there's life there's hope and whilst we all possibly think hope is all we have, lets cling on to that. Glenn and I will continue to work where we can, Glenn more at the sharp end than me. Mark Roebuck, another Ambassador is also on board with some IT work and along with Julian we are trying. We're not done yet and behind all that Stefan is still supporting as he promised whilst, as Glenn has suggested, possibly looking at new investment.
    Keep the faith, I know it's hard.
     
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  15. vladimir

    vladimir Impact Sub

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    Reading that its hard to keep the faith, the future is looking very bleak I
     
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  16. Bantamsteve

    Bantamsteve Impact Sub

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    In my opinion the person bankrolling the club who incidentally has no interest in football never mind Bradford City will have to very shortly invest more and very serious money purely to keep the club afloat Ask yourself has he the inclination to do that or would it be better for him on a personal level to say enoughs enough no more.
    When that day comes unless it already has what are his options
    Who would be prepared to buy the club knowing his options are limited to say the least should anybody be waiting in the wings they will know that they could buy the club for next to nothing from the receiver and hopefully plough the saved capital into the team
    If that's the way it's got to go then better to do it before the deadline a 12 point deduction to start next season will put serious investors off
    Just my opinion but this is Bradford City we are talking about and we never do anything the way people expect
    Very worrying times indeed
     
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  17. trevor

    trevor Squad Player
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    The one thing to give a little hope is that every league club that is put up for sale eventually finds a buyer, Whether its the right one is another question, The club is up for sale and there has no doubt been interest if not at an acceptable price
     
    #17 trevor, Mar 24, 2019
    Last edited: Mar 24, 2019
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  18. Clity

    Clity Fringe Player

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    I think How was referring to the fact you tend to see players going unpaid before admin happens. Its not like it will suddenly drop on us with no signs such as not having money to pay.
     
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  19. Nottsy

    Nottsy Squad Player

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    Heard rumours of players not being paid at all. Watch this space.
     
  20. Idlebantam

    Idlebantam Squad Player
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    Find that hard to believe. However, their performance yesterday may give credence to your rumour
     
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