Often Partisan

Complications

It seems somewhat disturbing to me that the biggest and most read news story this week has been about a fan paying £300 for a Lego replica of St Andrews. Although the early part of the close season is the quietest time in football with players gone off on their hols there is a lot that should be going on that doesn’t seem to be happening and the sense of not only frustration at the lack of news but scepticism that there will be is palpable.

Season tickets are due to be launched on May 30 and one of my big fears is that the takeup isn’t just going to be low, it’s going to virtually zero. I have said before I’m not getting into the debate about whether people should renew or not because I believe it’s a personal decision and I don’t want to be seen to sway people in their thinking but from reading people’s thoughts online and from talking to people there does seem to be a lot of people saying that they are going to not renew immediately – which isn’t good for the club’s books.

It could be worse – the Yorkshire Post reported that Leeds United have suspended selling season tickets by credit/debit card on Thursday due to a winding up petition served on them by former MD David Haigh. Bearing in mind they’ve had a new investor (Massimo Cellino) in the last few months it’s concerning for them that they are facing being wound up over a debt of £957,000 owed to a man who was in police custody in Dubai over financial irregularities surrounding the ownership and sale of the club by former owners Gulf Finance House (GFH). The issues surrounding the sale as reported in the second link to the Yorkshire Evening Post show how fraught buying a football club is – and why it is important that both buyer and seller are happy that they have all the information they require before going through with the deal.

The Guardian published a piece yesterday where they showed that in 2012/13 (the latest season for which accounts are available for all clubs), the Championship as a whole spent more on wages (£460M) than they received in income (£430M). That means as a whole, for every £1 that all the clubs took in, they paid out £1.07 in wages. The complete breakdown of those figures is here and you can see that Birmingham City’s ratio is 95% – which is completely unsustainable. When you remember our team of last season it’s frightening just how expensive it is to run a football club and it’s easy to see why today’s playoff game is worth something like £120M to the winner.

As much as people are impatient for news of a sale – especially bearing in mind it seemed imminent a week or more ago (and I will say in all honesty I had every confidence at that time it was) – I think we have to understand that this isn’t a simple deal. The noises I hear from HK are that it’s complicated; that extensive talks are still ongoing along with checks being made to ensure that everything would go smoothly – after all, both new investor and BIH are going to be tied up for some time due to the sale having to be done in tranches.

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84 Responses to “Complications”

  • Art says:

    Patients is a virtue possess it if you can.

    Found rarely in a woman!

    Never in a man!

  • mark says:

    I believe that fan got a bargain Daniel

  • beegeeblueboy says:

    To ‘persuade’ ST holders to renew that could have just a short renewal period before they gone on public sale. If they set it say at two weeks it would mean you could lose your seat on June 13th. Now that would really focus the mind notwithstanding that it may not be a sensible business decision by the club.

    • Will Viles says:

      They can make that hostile move if they want. However, not retaining the same seat I have occupied for the last decade is a small price to pay for withholding pouring my money into a big Hong Kong-based black hole.

      I hope all Bluenoses see it the same way. At least then we can live in the hope that zero season ticket sales may speed up their decision making when they realise they’re not going to get one last payoff from us poor suffering fans!

    • DoubleE says:

      As if anyone is going to buy your seat.

    • chudlt says:

      There will plenty of seats on offer next season, including yours if you don’t renew.

      • paule says:

        If the current owners and manager haven’t disappeared there will be four spare seats going in the Tilton.

  • Alan Moore says:

    So frustrating to see other clubs doing business at a time when quality players are being released on free transfers and we can only sit back and watch. Matt Upson, Marc Albrighton, Matthew Etherington, Phil Bardsley, Joe Cole etc – any other time we could be discussing whether or not they could be potential signings. Not these days. Hey ho!

  • Oldbluenose says:

    Daniel, Your reference to the present Leeds problems, sends shivers down my spine, !!. what possible murky things lurk within our present ownership may cause potential suitors to back-off from proceeding with buying us, ?.

  • bluenose08 says:

    When bihl decide on a preffered bidder and that person buys the first installment what happens to any money coming into the club after that ie season ticket money does it stay in the club or are bihl entitled to any of it ?

    • Fortinbras says:

      From the evidence in the Guardian it will mostly go to pay player wages. There is not one jot of evidence that money is disappearing into a HK black hole. You have to think more deeply than that. Football clubs are generally not a licence to print money. They do have their uses though to the financially astute. Ultimately, the fans are just pawns who’ll always be used and abused because generally they are submissive, not politically active, and don’t stand up for themselves in any meaningful way.

  • the_garbage says:

    Looking at that list of club’s losses and debts from the 2012/13 season, ours look very small compared with quite a few of them!

  • Stan031 says:

    I’m not renewing my season ticket until we have a new manager, simples. LC has bored me and my old man to near tears over the last 2 seasons at home. I realise it goes hand in hand with the new regime coming in, but I would renew no question if hyperthetically the sale was not resolved but they got rid of LC.

    • teej says:

      I’m defiantly and definitely not renewing my season ticket…enough is enough, no more cashing in on my loyalty.

  • Gary says:

    That seems to be all it ever is at blues complications nothing is ever straight forward it does actually make you wonder if they are going to sell the club with more delays going on.

  • Andy W says:

    Had we not made such a hash of last season, I believe we may be looking at a different picture now. The fact that we left it till the last game of the season to secure Championship status has had a detrimental effect on proceedings. If we had been safe with say 4/5 games to go, or even relegated for that matter, these complicated negotiations may well have been resolved. However, we are now running out of time for BIHL to decide who they want to take over, and get them in place so that investment can be made and the squad readied for next season. And the longer this delay goes on, the more likely it is that those bidders will be tempted to ‘back off’ as the team will probably start the season in a disadvantaged position compared to the others in the division. Unless of course the chosen successor is in it for the long term, and would not be influenced by us getting relegated next year, but somehow I doubt that. If the directors of BIHL want to do what’s best for BCFC, they will make a decision now! If they want to do what’s best for BIHL then they will continue to deliberate. As the Americans’ would say, “you do the math”?

  • flying doctor says:

    is the money running out? Was the final years parachute money paid in advance? is there factual evidence to back those rumours up?

  • Chris W says:

    I have said in other posts the full extent of BCFC’s financial position under BIHL will not be found until a deal is signed, then I feel it will be even more frightening.
    This selling in tranches is going to cause more problems than it will solve and the only beneficiary will be BIHL, personally, if I was buying I would not be interested in HKSE rules, but then it wouldn’t be on the table.
    I wonder if all this stalling will eventually lead to an administrator being allocated, or worse case, the Football League will deem the club unable to guarantee their financial position to complete the season and call for the expulsion.
    We knew it wasn’t going to be straightforward but we were also aware of the urgency, both of which BIHL seem to be delaying on.
    Sadly I can only see more heartache for even the most hardened Blues supporter, please hope I’m wrong.
    Leeds could be the tip of a very big iceberg and I think some bigger dish will be looking over their shoulders..
    KRO+DNM

    • Andy W says:

      Chris, I think we read the situation in similar fashion? In other words, until we know something definite, it is bleak. It is very difficult to put your trust in an organisation that has sold you down the river. But that is what we’re being asked to do as supporters. We have to trust BIHL to do the best deal for BCFC. Up till now, there is no reason for any of us to trust BIHL? That said, BIHL need money. The only way they will get money for their future projects is to sell BCFC. The issue is that there are 3 individual members of the board of BIHL who stand to gain significant financial personal profit if their preferred bidder is selected. That is the stumbling block. Why do they not just agree that the best bid should be appointed and share the profit? That to me would be the sensible approach, and demonstrate to us, the supporters that they do have our interests at heart? That doesn’t seem to me to be asking too much?

      • Chris W says:

        Unfortunately Andy the last people BIHL consider are us the supporters. They are only worried about losing face and their HKSE status.
        The answer is for all bidders to withdraw and force BIHL’s hand, they will be left with two options, administration which apart from a 10 point deduction would significantly reduce the asking price or lose their HKSE listing, something that seems more important.
        It should be inconsequential of any personal reward, as you say it should be divided between all parties without prejudice.
        KRO+DNM

  • Gary says:

    I was listening to radio WM a couple of weeks ago this bloke phoned the station & said he works in china he then said the Chinese will hold on to the club while they are still making money and they will never let go unless they are made too that’s the way they do things over there. Make of that what you want but the way these people have been treating the club what he said actually makes sense.

  • Bluenosesol says:

    I have held a season ticket for over 30 years, however I wont be purchasing one from the offset. This isn’t from a protest standpoint, or even because I cant bear to watch a repeat of the worst home record in British Professional Football, but rather I can not be sure that with all the shenanigans going on at the club, that my purchase will be honoured. As soon as the club is sold and the new owners reveal their investment strategy, I will buy my tickets. If that isn’t resolved by the start of the season, then I shall pay on a match by match basis until my concerns are met.

    • Blooflame says:

      A very valid point! Who knows where all this is going? The board have dragged their feet and basically messed everyone about, they are victims of their own design. We are now in a position where the very existence of this club is not assured, so why should some one throw a few hundred valuable pounds into an uncertain future. You could buy your ticket one day and the next day it could all fold, no money, no football, no BCFC!

      • Chris W says:

        At the moment that is a stark reality, BIHL have played us and the club long enough. the only way we the supporters have is to bleed them dry and stem the flow of money, sadly it might mean those who have worked tirelessly to keep the club running having to make the ultimate sacrifice but I think it would only be temporary.
        That may be what it takes to rid us of BIHL>
        KRO+DNM

        • mark says:

          i am sorry but that is only conjucture….so your happy in our present economic climate that staff working tirelessly for bcfc should sacrifice their jobs, glad it not your job on the line??

          • Chris W says:

            Was it not Churchill who said sacrifices have to be made to rid the world of the tyranny of Hitler when he sent every young man to war.
            KRO+DNM

          • mark says:

            sorry Chris for once i cannot agree with your sentiments. Your quotation is not of a football one……referring BIHL to the crimes of war is a little tasteless imo…maybe others will agree with your point made…..it not for me….
            flow of money will certainly pay wages, upkeep of the grounds,bcfc staff, and give monies to the manager…..that’s imo maybe you dont share that view??

          • Chris W says:

            I apologise for the analogy, maybe it was a bad choice.
            BIhl satisfied the Football league they could fulfill the last season financially, that should take them up to 30th June.
            On the assumption BIHL have to honour their obligations.
            They did indicate that they would be monitoring the financial position very closely once the season had ended as they had reservations as to the cash flow beyond that date.
            As we have seen BIHL are not giving LC any indication or money as to the new seasons strengthening or contracts.
            I’ll let you decide where the monies from ticket sales, corporate deals or advertising is going.
            I do know that at least one major advertiser is withholding renewing and also two corporate boxes have not been renewed along with one box, again waiting the outcome of the ongoing talks in Hong Kong, before taking up their offer of renewal.
            Businesses are watching the situation very closely and are being cautious, and this is big money for a football club.
            KRO+DNM

          • mark says:

            Your apology is very much accepted thank you for your honest input, bcfc has worked extremely hard to attain awards they have won for family and for match-day experience,,,,these hard working staff deserve our support…Yes i am sure there will be some who make those decisions chris they are entitled too but life goes on too.. ..but at the same time there will be others who will chose to renew, and maybe others who may wish to take on those corporate boxes on when they come available. As one step out another will take that place……i dont see a mass desertion happening… i am sure where a lot of media hype until there concrete facts we all none the wiser imo as Daniel said once it comes down to individual choices……

          • Chris W says:

            I try to be fair, I enjoy the banter and don’t wish to offend unnecessarily or needlessly. I thank you for the politeness in pointing my error out. We are all bluenoses and want what is best for our club, I am friends with some of those who strive to make the matchday experience what it is, they are as much in the dark as we are. Having travelled to almost all the away games this season (minus 2) there are not many who can beat us for hospitality, do wish the big screen worked more often though. I thought Barnsley was a good day though the ground was a little antiquated, and Watford was a friendly ground.
            My best experience was Sheffield, I timed it nice to have a police escort to the ground, parked in the players car park excellent :-)
            If nothing is forthcoming this week I think we will be looking at a very bleak situation, most clubs want things sorted so they can sit back and enjoy the world cup.
            KRO+DNM

      • mark says:

        where your evidence to back this statement???/

        • Blooflame says:

          Quit with the school teacher question marks! It’s a hypothesis and the club is well in it in case you hadn’t noticed. I’m responding to a valid point. I have to question the status of the questioners sometimes

          • mark says:

            The board is doing what it said it would do. Unfortunately fans thought it would be a full sale and rid of them. Not a chance until further information regarding the of 24% comes out….. and if you check with Daniel every penny goes into players wages, i apology for been sharp…our wage bill has dropped absolutely no chance of administration…..maybe uncertain season on the pitch mind you…..

          • Chris W says:

            Most of the fans understood the club would be sold in tranches as that has been stated regularly on here, in the news (what little there has been) and by Dan in depth.
            What is difficult to get the gist of, for me anyway, is point 1) why does the bidder have to bow to BIHL and point 2) how is the breakdown of investment going to work if BIHL hold the majority of shares?
            To be honest unless SMW are the only ones willing to accept 24% and haven’t broken NDA I would seriously question their motive.
            Most business people I have spoke to would see BHIL drown before accepting those terms, or owning at least 29% minimum of the shares initially.
            I believe when CY purchased BCFC he could only own 29.9% otherwise he had to buy the club in full, which he couldn’t afford. With his 29% he still had no say on board matters.
            KRO+DNM

          • mark says:

            hopefully like you Chris, this forthcoming week might shed a light on a few things………..either way someone got to speak….or may not…..maybe they SMW have let the horse bolt before things were more concrete………..GP did did exactly the same and look what happen to him………..noted on Daniel twitter feed that Bih are doing their side right, even if some dont think so……..kro

          • mark says:

            my other point agreed Carson has no say….. but i bet he still influential in his stake, family member’s were a good piece of chess…………….

          • Chris W says:

            I e-mailed the Football League and they feel assured that CY has no influence in any dealings involving BIHL or BCFC.
            Personally I have my doubts, especially since he has 3 family members on the board.
            KRO+DNM

          • Blooflame says:

            Hope you’re right, if this lot doesn’t go the options are extremely bleak. Will support be there if the performances don’t please? will there be less money? This is a view, not everyone agrees with everyone else.

  • mark says:

    well what great loyalty shown by the masses, great i might get a better seat this time around cannot wait…………. it best if you paid on the day aswell because that will be going in bhl…………for give me for not saying that first it complicated.

    As long as i can walk,bus,taxi,drive nothing will ever stop going to the stans, not even the wife…………lol

    • Chris W says:

      Not everyone is blinkered and sees the whole picture, everyone is entitled to their opinions and many are keeping their options open.
      KRO+DNM

      • mark says:

        of course they are and course they will but firstly bhl are here for possible two years further and possibly longer…… do really think any monies will stop going them….only 25% is touted in the sale of the club there is no full sale…….and at the speed it going could be longer………i do feel the man in street will decide the hardcore bluenoses will continue their support…did they boycott Bolton 3,800 fans went and blues could have sold more……..

        • beegeeblueboy says:

          Mark, BIH can only take out money legally from BCFC through dividends payments; interest on and repayment of loans given by BIH, not CY; invoiced services. All of these leave a paper trail. In addition BCFC can employ services eg Asia Rays again with a paper trail.

          I believe directors have a fiduciary responsible which means these service contracts must give ‘value for money’ in the broadest sense. So for example of BIH charged say £1000 per hour (as say a means to get more money out BCFC) the BCFC would be questioned by the auditors and could be reported.

          It is quite possible that due diligence is showing intra group payments that the preferred bidders is unhappy about and is adjusting the purchase price accordingly.

        • Bluenosesol says:

          “Two years further and possibly longer” – I think Not! With no money in the bank, no new investment in the recent past or evident in the near future, by the manager’s admission no communication to the team/manager, hence no pre-season strategy and all this on top of anticipated dire season ticket sales, then there is no way that BIHL will stave off administration without a straight sale.

  • mark says:

    Just a quick one Daniel best wishes to Gary rowett….. I remember the Barnsley beating 1st leg……

  • Mineheadblue says:

    Thanks Dan, your article is as always diplomatic and balanced. There may well be understandably reasons for continued delay and I get that. However, as each day passes with no developments, my feelings towards the Chinese becomes ever more hostile. I don’t line what this is doing to me and many others and I don’t like it that I wish them only ill.
    On another note, perhaps the Chinese and investors should take a look at our wonderful ladies team. What a superb advert for our club these girls are!!

  • mark says:

    Rumoured zig been offered less than 5k wow……

    • Chris W says:

      On last seasons all round effort he is lucky to be offered that much, a player should perform to the best of his ability for 90 minutes over 46 matches.
      We were lucky if he performed more than 9 minutes all season.
      KRO+DNM

      • beegeeblueboy says:

        Oh Chris pleeaasse! I was so agreeing with what you were saying about ST renewals

        • Chris W says:

          Sorry, but I suppose Zig, as much as I do love him, didn’t excite me last season.
          Maybe the way we played, or rather didn’t, did not play to his strengths, he is not a target man, he needs to be used on the floor.
          But I suppose his goals at Bolton and at Wembley alone he definitely deserves respect and more than £5k per week.
          KRO+DNM

    • beegeeblueboy says:

      I doubt that. If he had he’d have rightly told them to ‘shove it’ I expect

  • Paul Carter - Voice of Reason says:

    It’s annoying

  • Paul Carter - Voice of Reason says:

    I cannot wait to back my club by renewing my season tickets on Friday.

    More than ever the club need my support and I will not fail them.

    Nor hide behind excuses

    • Chris W says:

      Good to see you have plenty of money to waste, your choice Paul, I just hope you won’t regret it.
      There will be those who will renew but I feel the majority are going to wait and see the outcome of these bidders before committing to any long term strategy.
      I will still be in my seat for the first game at St Ans and hopefully the new owners will have the benefit of my hard earned cash and not the parasites in Asia.
      KRO+DNM

      • Paul Carter - Voice of Reason says:

        Backing the club is not wasting money

        Your attempts to organise boycotts against the club is disgusting

        • Chris W says:

          I am not attempting anything, it would appear that a majority can see the broader picture, like the bidders they are playing the waiting game.
          If I have to pay more for my seat so be it but at least I will know my money will be used by the new owners and not lost in Hong Kong.
          KRO+DNM

          • Paul Carter - Voice of Reason says:

            You are urging others to follow you in not renewing season tickets.

            Plotting against the club

            Sickening

          • beegeeblueboy says:

            I didn’t see any ‘plotting’ in what Chris wrote

          • Chris W says:

            I am not urging anyone or anything, like you they are all able to make up their own minds and make decisions which they feel will benefit the club.
            If I am urging people to not renew then by the same token you are calling everyone who declines as sickening.
            I live in a democracy and everyone is entitled to their opinion and in doing so should be respected and not called names and that includes you.
            KRO+DNM

          • paule says:

            Chris W i agree with what every thing you say but i think someone’s trying to wind you up, i don’t this any sane person could actually believe some of the rubbish i am reading,my money stays firmly in my pocket until BIH have gone & taken that Muppet Clark with them.

          • Chris W says:

            Winding up! yes, like you, and the vast majority of educated supporters who have reached the same sensible conclusion, my money will go to new owners for future development of BCFC. I can wind up too… :-)
            Hopefully we shall have news before the week is out, but don’t hold your breath.
            KRO+DNM

        • beegeeblueboy says:

          You are not backing the club Paul. You are backing the current owners.

        • mark says:

          absolutely agree Paul supporting your team is not a waste of money, it can be many things, family gathering of noses, individual things, friends are met, socializing,…..kro buddy

      • mark says:

        why Chris would Paul regret supporting his beloved blues ???

        • Chris W says:

          I meant by paying up front. If the club fails to be sold or goes into administration his money would have gone to BIHL. If the worse case scenario happens and the football league expel us then he would have overpaid for a Southern league seat.
          Yes it is all conjecture, but the longer BIHL hold out or the nearer we get to the start of the season it could soon become a reality.
          We thought at Christmas we were safe and even had eyes on a decent second half of a season and a play-off possibility, look where that nearly ended, if Donny hadn’t have had that game postponed?
          KRO+DNM

          • mark says:

            but like i said if Paul chooses surely that’s his choice, maybe Paul knows the risks. But Paul mentioned before paying on the day will very much go the same way??? unless you are never prepared to step in the stans again…what would be down to a individual choice………..what you seem to forget that Daniel mentioned sometime ago where will always be a hardcore of noses. So if you are hopeful your seat will be available to you come the forthcoming season good luck,..
            our goal difference saved us……….

          • Chris W says:

            Goal difference saved us on the day, but if Donny’s game had not been abandoned when they were 3-1 up…. lets just say we were lucky, but that luck may still run out if BHIL cannot produce satisfactory financial reports by the 30th May unless they make a statement of a sale is imminent.
            Season tickets were slow last season, if the comments on here and other blogs and forums are to go by I shouldn’t think any of us have too much to worry about, including the hardcore.
            I have been going down St Ans since 1961 through the good, bad and indifferent I’m not about to stop now.
            That is the beauty of Dan’s blog, we are all allowed to express our opinions and on the whole are all respected.
            KRO+DNM

          • mark says:

            i believe all there financial accounts are upto date so far. maybe Daniel can confirm that?…yes in agreement with you chris may the 30th will be interesting. but when they have eventually arrived they have been deemed to be ok,so me personally i will of the same opinion…

    • beegeeblueboy says:

      I prefer to give my my to the new owners not the current ones

  • mark says:

    where appears to be a one eyed view on where ST ticket money goes……it pay wages the bloody wages of players who play for bcfc……….switch the bloody light on upstairs….
    players wages………… if zig played like he did against bolton week in week out 75,000 week i would have no problems with it because we probably be in the play offs…chris W has kindly hit the nail on its head shows up when he wanted too more often than not.I think zig jumped the highest i seen him do all season against bolton……forest home game went missing in action…… he was terrible missed absolute sitter appeared not to care booed off …. i might add…. Not sure how many times Daniel discussed the players wage bill which would be unsustainable …….but withholding ticket sales will have a detrimental on who we can bring in i personally would want to have the best opportunity to get players he feels can contribute without referring to loans and offering them wages in line with our protocol …….

    • Chris W says:

      All professional football players contract end 30th June, they are the first bills paid under football league regulations, therefore all players are virtually guaranteed their spoils. When our contracted high earners contracts expire hopefully we will be under a new regime.
      We all want what is best for the club, its just we, the supporters, are in the same limbo as the players and manager, leaderless.
      Throughout the season there were calls for a boycott, a walk-out or some form of protest but no one would take the bull by the horns and lead one. Yes we saw a flag and some posters, I still have them on my parcel shelf in the back of my car. It is the same in the close season, we all have different ideas of supporting the club but not BIHL, we showed at Bolton what singing from the same song sheet can achieve, I believe the supporters played as much a part in Caddis’s goal as those saves made by Randolph.
      Until someone is prepared to stand up and lead we will all make our own decisions, rightly or wrongly, to us who make them they will all be right.
      KRO+DNM

  • mark says:

    like paul said friday beckons without a doubt we all blues and white, whether you decide or not regarding your ST……..THINK ABOUT the bolton game see the emotion of the players and the management team and especially our fans ….if we are to never turn to that situation again, then rightly our club needs us more than ever…..yes our home record was bad…….but our way record was second to none, the championship could have been unforgiving, we have no divine right anymore……if blues is truly in your blood you will make the right decision and make the stans once more a fortress……

  • AussieBlue says:

    I’ve so much wanted to believe that a sale was imminent and Dan’s sources proved right. But that niggling twinge near my liver that has never let me down keeps saying ‘it’ll never happen so long as BIHL & cohort is involved.’ Probably the due diligence is turning into discovery of due negligence. An unfathomable imbroglio of deals-within-deals; liabilities unheard of; impossibility of trust and who knows what else. I wouldn’t be surprised if interested parties are already tabling their walk-away prices and terms.
    Think: you want to buy a car for 10K. The seller says ” I need to keep some equity in the car so I can use it to finance a boat, so I’ll sell you 25%, then another 25% and two more lots of 25% until you own it outright. By the way, I still want to drive the car untill you own it all.” Would you buy that car?
    I hate to suggest this: the tranched sale will not work for any bona-fide buyer. Only a party with an existing vested interest would agree to it – and that just may be classed as insider trading. The HKSE is in a tough place trying to administer this but from my perspective, I can see only one solution:
    A complete and probably hostile take-over of BIHL with non-agreeing shareholders being squeezed out by forced acquisition. The new owner then owns BIHLs main asset – BCFC. Sack the entire board and sever all connection with the former regime.
    It’s that or admin; and a proper sale of BCFC, free of all liabilities, administered by the receiver. Then the long road to recovery………

    • Chris W says:

      I agree on most parts, this is not going to end well for BCFC because the new owners will have to be cohorts to BIH. Too may bad audits, well not signed off audits, should indicate some underhand or shady deals without adequate paper trails have occurred which will all come out in the wash after the deal is sealed.
      I would prefer the new owners to tell BIHL to get off the bus and suffer the consequences, we don’t care if they lose their HKSE status, afterall they haven’t bothered with BCFC or the supporters for the best part of two years, if not more.
      I can see an administrator taking charge, then we may see some light at the end of the tunnel and not just a glowing ember.
      KRO+DNM

      • AussieBlue says:

        Hi Chris – I have been involved in many Administrations/Receiverships/Liquidations. Not in football and not in UK but Aussie Law is very similar to the Westminster system. What I can say is that a properly carried out administration and sale can be a quick and cleansing affair; literally a new start, free of all old skeletons in closets. What is also interesting is that any deemed ‘preferential payments’ can be clawed back retrospectively. I’m thinking high consultancy fees for accomplishing nothing here! If there were any of course.

        • AussieBlue says:

          PS: My view on STs is that they are a personal decision for every fan and will make very little difference one way or the other to the sale process. I do like the idea of putting the Club above the current ownership and showing faith though.

          • Chris W says:

            I just wonder where that money will end up, as I said BIHL had to prove they could fund last seasons obligations, which took them till the 30th June. If it was going into a pool for next season I would not have any problem. I will renew my ST, but not until I know where it is going, it is not as if we are in the premiership and likely to sell out, I may even get a better seat, but the crowd I am with have had the same seats for several seasons now without too much hassle renewing, one guy, due to ill health even managed to get the same seat in October last year.
            KRO+DNM

        • Chris W says:

          From the auditors failure to sign off accounts I fear there may well be many skeletons, and not just in the cupboards. Leeds Utd’s new owners have found several already. Maybe now is the best time to take the knock of administration, throw a grenade in the widow and sweep everything out the door.
          One of these days the Football League and the FA are going to make an example of someone, they tried with Portsmouth and forced them down the leagues, let’s just hope it is not us.
          KRO+DNM


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