Often Partisan

Editorial: Where Do We Stand Now?

The trial of Carson Yeung on five counts of money laundering was yesterday adjourned for a period of three months due to scheduling conflicts and is now due to reconvene on October 15 of this year. A question I’ve seen a lot online is how much this affects the club and what happens now.

Before I go any further I would like to remind people that I am not a lawyer and thus you shouldn’t take my words as gospel. I’m also going to say a lot of what I think in this article so please treat speculation with the scepticism it deserves; however when something is factual I’ll cite it.

In my opinion, I think this is bad news. I have stated a few times that I disagree with Tom Ross that a takeover is on the horizon and I have seen no reason to change my mind. There has been no announcements to the stock exchange and from the people I have spoken to nothing has been indicated that anything is in the pipeline. That doesn’t mean that there is definitely nothing in the pipeline – it’s of course possible that I just don’t know or haven’t heard about it – but I have to go on evidence I’ve seen and heard and I’ve had none.

It’s my opinion that we will not see a resolution to the sale of the club until the trial is over. It’s fairly well known that Carson is a gambler, and I believe he doesn’t want to sell the club because he likes being a football club owner. Thus it’s my opinion he won’t sell until he is forced to – either because he is not allowed to own a club because of a criminal conviction or because he financially has to. The big question of course is what will come first – and I think that Carson is hoping that he can hold on financially until the verdict so if he is found not guilty he may be able to continue owning the club.

Should Carson be convicted, he will automatically fail the owners and directors test. That would disbar him from being a director of the club and potentially disbar him from being allowed to be a director of BIH or even own the shares he does. However, the Football League will need to step in to enforce their rules and I will confess my worries having seen what has happened to Coventry City and having spoken to Portsmouth fans that the FL will not be as strict as maybe Blues fans would like in that regard. It’s my belief that fans who want to protest shouldn’t direct their ire against the club but more against the FL so questions are asked and should Carson be convicted then the FL will be forced to act.

Of course, should something materialise in the next few weeks I’ll be more than happy to be wrong. However, I feel I should also point out that with just over seven weeks until the end of the transfer window that I think it would be almost impossible to wrap up a takeover before that date and thus I think it would behoove Blues fans to not expect anything to happen in that time.

I don’t like being a doom monger; far from it. If anything, I’m happy (and a little proud to be honest) that season tickets are at the same levels as last year in sales and the expectation from the club is that they will remain at a fairly constant level. I’m happy with the business the club has done over the summer and I’m looking forwards to seeing how this new look Blues side will do on the pitch. All we can do is support the team and hope that behind the scenes things are moving to improve those matters.

Tags: , ,

100 Responses to “Editorial: Where Do We Stand Now?”

  • RVH1T says:

    I think that one factor in all this is the Club’s financial situation. Having sold all the family silver, the Club has to remain solvent from week to week, be sold, or go into administration. Are we confident that they will not simply run out of money, sooner rather than later? They have no line of credit and I cannot see anyone being willing to lend them money, even on the most favourable terms, in the current situation.

  • StaffsBlue says:

    Couldn’t agree more. There’s nothing we can do about the court case or ownership at this moment in time… so it’s up to us to get behind Lee Clark, his team and his players and give them a rousing St Andrews welcome to the new season. KEEP RIGHT ON!!!

  • Kaje says:

    Well, at least we don’t have any other players worth selling!

    Which means SOMETHING will have to give if we start running out of cash again.

  • JOHN N says:

    Your comments are totally correct, especially about the likelihood of CY continuing to own the club and the attitude of the FL. Should a not guilty verdict be reached then CY is faced with two choices carry on or sell immediately. He may decided that due to the fact that little interest is likely in regards to someone else purchasing it he may decide to hold on until an offer arrives. I would think this course of action is entirely reliant upon the performance of the team this season. A good season must increase the likelihood of a new owner as the club would then be a more attractive proposition, a poor one would leave him again with two choices – carry on or allow the club to go into administration, which would remove him, without likelihood of an recompense. I personally think this is the most likely outcome. We have, with respect to the playing staff have little of value in terms of generating income which would leave a cash flow problem. Only then would there be likely to be a sustained interest in purchasing the club as the price would be considerably lower than any other situation. Of course a guilty result would almost certainly place us in administration – with the possibility of points reduction!! The situation with this delay in the court case has provided us with the worst of situations. It would seem that even a great performance by the team might not be enough – heads we lose, tails we lose. Are only hope is that someone steps in soon but as you say this is unlikely. Even a sustained fans protest is not going to change the situation. As it stands we are stuck in a hard place with no where to go!!
    Makes you rather fond of the Kumars does it not!!

    • skareggae72 says:

      Ahh the Kumars…
      that’s what you get when you sell the club for a quid to somebody who wants to publicise a tacky clothes shop & tell their mates that “we now own a football club”.
      Lets hope the next buyer is not of that mentality.

      • chas says:

        Again, the Kumars were good for Blues..It was just bad luck that the bank they used went bust, taking a of of Business’ with it..The blame for the trouble Blues found themselves in at that time was down to previous owners, not the Kumars. The stupidity and rascism of SOME Blues Fans was shown by the idiots who threw things at the Kumars when they walked round the running track before the first match , but, just like today, no-one else was interested in taking us over, and who could blame them. I certainly wouldn’t put any serious money into Blues if I was in a position to.

        • JeffHallsClock says:

          I totally agree with your comments re the Khumars
          I had the privilege of being in the Royal Box for the Auto Windscreen final – half time came and Ramesh & Samesh Khumar came into the gents with an exclamation of “tell us Johnny Gale is a donkey now!!” – they were really up for it.
          Where would we be without them?

  • Tim says:

    Your article sounds spot on to me. I’ve been hoping the Tom Ross prediction was going to happen but as more time rolls on it seems less and less likely.

    Despite the current situation your last paragraph sums up how I feel too. Enthusiastic and looking forward to the next season.

  • skareggae72 says:

    Bit disappointed with the HK legal system that seems to move at a snails pace.
    It also seems that Mr Yeung is prepared to drag his heels as much as possible,which is strange tactics for a gambler,who usually want fast-precise decisions & to hell with the consequences as it could? go in my favour.
    Lets hope they sell up soon & this tedious case can get the attention it deserves-none.

  • Richard Granfield says:

    Dan…Am I correct in the assertion that the defence will not call CY or any other witness for the defence? Also that when the court reconvenes the prosecution and defence counsels will be making their final submissions.
    If so, this begs the questions. When will the judge deliver his verdict? Will it be soon after the end of the submissions? Is by the fact that CY is not taking the stand an admission of guilt?
    Any comments welcome.

  • Jimbo says:

    I think you are spot on, no sale until the trail is over the 3 month delay is a right kick in balls

  • StaffsBlue says:

    The thing that worries me, is that IF CY gets off… any potential buyers will rapidly fade into the distance. If Pannu has played hard ball with this threat over CY, then what will the two of them be like to deal with? Either way, an innocent Carson Yeung isn’t good for the health of the club.

  • ChrisG says:

    I’ve been saying all along that CY probably thinks he’ll be found not guilty & that he doesn’t really want to sell the Blues, that was also shown recently when Sammy yu gave up trying to buy us after 6 months of negotiating

  • Jaffa says:

    Al,was the sammy yui deal to buy the club the one Tom Ross was on about.

  • Oldbluenose says:

    It does seem like. [ Doom,Gloom and desondecy ] on the ownership front, !!. I have long held the feeling that it is NOT C,Y’s, wish to sell, ??????.

    If we can put that out of our thoughts for a while, ?. Focus on the club in football tems, eh,!!.

  • Lee says:

    I’m hoping and praying that a) Tom Ross has heard or been told something ‘off the record’, I know there’s a few people out there that like to give him some stick but the bottom line is he’s been told something from a credible source and is passing on what bits of info he can, there’s absolutely no reason why a guy in his industry would bullshit so I’m prepared to believe something is going on, whether it happens is another story but Tom Ross has no reason and is not they type of person to make this up, and b) I have also heard a ‘rumour’ yesterday from a good source at the club that a major announcement is being made on Monday, again I don’t know what it is and can only hope it’s the news we all want to hear, the china man is on borrowed time and he knows it, this can only continue for so long, based on what I’ve read on here he doesn’t even have any credible defence and is basically playing the system

  • mark says:

    totally agree i am of that belief that Carson wants to return by putting PP on board this justified his actions to want to hang on to our club……….. sorry to say whether we liked it or not……..they have both sanctioned players coming in and players leaving if this is for the good of the club…. who’s for me to question????………….they would have both been in touch with Clark, and equally discussed the vision to keep the club on a even footing…. If Carson’s wealth is frozen……..and he only has enough to live on…
    how was he suppose to run the club??? would we equally want our club down the pan just to despise him……. Dan the pleasing point raised in your blog, and credit must due to the thousands of fans who have refuted the need to postpone their season tickets…… no sure but i think 13,000 took up their season tickets last year….so a steady growth of support is amazing considering the year we had…………… forever blue…………kro

  • Tony says:

    I’m just keeping my fingers crossed that Tom Ross is right and that perhaps he knows someone or something that is not yet common knowledge. Someone must be feeding him something for him to say the things he has or am I just a stupid optimist?

  • Blueboy88 says:

    If Clark keeps this club in the Championship this season, it will probably be his greatest managerial achievement . A squad of young lads, lower league buys , & untried Premiership club players
    (remember Ben Gordon & James Hurst) is going to toil.
    But protecting our Championship status must remain the clubs main focus.

    I fear these owners will stay to the bitter end , which potentially does put St Andrews at risk.
    However with no other line of credit or investment currently in the picture, administration will seemingly be the sad final act of this deluded regime.

  • DoctorD says:

    If there’s one bit of “family silver” we need to get rid of, it’s Nikola Zigic.

    Whatever happened to that idea that we keep him on for an extra year but spread his wages over two? It would save £3 million off this year’s outgoings (50 weeks x £60k per week) and give the guy an extra year in Brum.

    • mark says:

      it seems to me blues have conceded the fact that Zigic is going no where, and it will take 4mil of this season to pay him off…………Hopefully he put transfer in January hence this will quicken him moving on………….don’t hold our breath………what ever happens i will support him in blue shirt………

  • chris says:

    He won’t sell till he or the club (same thing really) has taken out the money to pay the £20 million in loans.
    I believe that new owners don’t want to buy the club and pay off these debts, which is holding up any sale.
    I shouldn’t think the loans still stand at £20 million, but what have they been reduced to??

    • skareggae72 says:

      I seem to remember that the only monies the club owe are to Carsen himself(a loan),so if any new owner came in to buy the club,surely they would also have to pay these extra monies to Carsen himself asap(as long as he declares it),although if he is sent down surely this debt to Carsen would be written off & any new owner would not have to pay.
      Please correct me if i am wrong Almajir,but this could be one of the reasons why interest in the club comes,and then goes-once people go through the smallprint.

      • tmsblues says:

        Yes 2 encumberences to any pre admin sale… the first £24m goes to CY and Zigic !! Hence the best purchasers option is to see a guilty verdict, and admin looming as the club runs out of cash. Last sale forecast would be Burke if he has a good season who will go in January for half a million… that’s it all gone then we’ll mhave a new owner next season 14/15.

  • Mortonsblue says:

    I haven’t seen anything from the club on ST sales, how many have been sold? and how do you know this? I haven’t renewed and when I looked at the area I sit in there seem to be a whole lot more available seats than before the deadline.

    • almajir says:

      8000 had been sold 2 weeks ago… You do realise I talk to the club occasionally? ;)

      • mark says:

        Dan- i was informed of a simpler figure by one of my mate who just renewed himself he was told by a lovely lady at the ticket office of that very figure. Brilliant news- bluenoses please don’t be put off by people who wish not to renew or constantly feed the financial woes……… support the blues for football reasons………….kro

  • Tony says:

    Dan do you have any idea what this major announcement may be?

    • mark says:

      maybe going to sign messi on a year long loan from Barcelona lol

    • AuldBlueEyes says:

      This so-called ‘Major Announcement’ has to be one of the following:
      1) Mr Zigic sold
      2) Mr Zigic, in a fit of self assessment/conscience, volunteers to reduced his salary by ? percent.
      3) Mr Pannu resigns
      4) Mr Pannu, in a fit of self assessment/conscience, volunteers to reduced his salary by ? percent.
      5) An agreement has been reached that Mr Paladini has bought the club.
      6) An agreement has been reached that both Jackie Chan and Suzie Wong have bought the club.
      7) An agreement has been reached that ? has bought the club.
      8) Blues are entering administration.
      9) Mr Clark has resigned as he cannot fathom whether he is loved or hated by supporters
      10) The price of pies and Bovril has been reduced by ? percent.
      Think I’ve covered all the bases. If yow can think of any more, give it a go.

    • almajir says:

      No, AFAIK there is no announcement on Monday…

  • Sorry, if this has been covered, but what happens in the event that Carson is so ill that he passes away?

  • StaffsBlue says:

    Like all the other rumours over the last 18 months. It seems ALL rumours/news is bullshit until you see it on bcfc.com

  • Chris Walker says:

    Another well-written editorial regarding the epic saga of Carson Yeung’s trial and the three-month adjournment.

    As you point out, most is your opinion and you have usually been fairly accurate or very close in other editorials and blog pages.
    I think we can all claim that this delay is going to be bad for the future of the club, especially with the recent events at Coventry City.

    I like and respect Tom Ross, the same as I respect your opinions and comments, but do not think he would put his reputation so openly on the line. Therefore, I have a strong gut feeling that something maybe in the pipeline, but after the Paladini fiasco all parties are keeping all channels very tightly shut to prevent a recurrence.

    I do have some questions that you may be able to shed some light on:
    Does Carson Yeung or BIHL own Birmingham City FC PLC?
    Carson Yeung placed his son on the board during his absence, is there anything stopping Carson from transferring his allotted shares and/or his position within BIHL to his son.
    I have often suggested that administration is our best option to get a change of ownership, other than a supporters trust buy out, would you say this would be a viable option given the implications regards the 10 point deduction either at the end of the season (If not relegated) or the start of next season.
    Also on the same subject, can the FA force the owner to move the club into administration?
    Especially our accounts show, though without a few frowns, we are not actually in debt and at present trading as a going concern, would this also stop an administrator being appointed?

    As regards the trial and from your reports I get the feeling that Cason and his defence knew, or rather felt to how the case was unfolding against him that they deliberately played for this adjournment with delaying tactics and to give the defence lawyers more time to find fresh material come the continuation in October.

    You mention that any ire should be directed at the FA, and so it should as they have let a lot of supporters down across the country over the years, Wimbledon, Portsmouth and now Coventry City, my next question being:
    Do you have any suggestions regarding this form of action and with your connections could you not get the local media, Evening Mail, Sunday Mercury and Radio BBC WM to draw up a petition or suggestions regards the wording of a petition, which the supporters could sign and have presented to the FA on the supporters behalf?

    As for the coming season Lee Clark has done some shrewd business with his signings and believe we are looking forward to one of our most exciting seasons for a very long time, personally I feel that BCFC will be the surprise package and finish in a very credible position if not a play-off place.

    I suppose it is good that season tickets have not dropped, though my opinion is that we are only stalling the inevitable and not fervent enough for PP to sell, however, I shall look forward to your view on administration.
    As you stated early on, this editorial is your opinion, the road of administration is only my opinion and I am neither an accountant nor lawyer.

    We need as many supporters down at St Andrews from the start to help the youngsters, make the ground a fortress, and noise feared place for opposing teams to come.

    • almajir says:

      Football League not the FA. It’s got nowt to do with the FA.

      No they can’t stick us in admin. For information on the ownership please read the factfile on this site.

    • oldburyblue says:

      “I suppose it is good that season tickets have not dropped, though my opinion is that we are only stalling the inevitable……”

      Stalling the inevitable has nothing to do Season Ticket sales. The regime would’ve remained even if there had been zero income from ticket sales. PP and Co would’ve still had 1st dibs on any available money and they would’ve just sacked Office, Ground and Training Staff. We have NEVER had control over where our money goes. We pay our money for a guaranteed seat for a set number of matches. That is all. There has never been a guarantee of match quality….but it has always given us HOPE.

  • Shergar says:

    Have I missed something major announcement on Monday? Where has that come from?

  • MT66 says:

    What frustrates me personally about all of this is the attitude of the ‘stay away’ supporters. With no real ‘saleable’ assets left the club needs cash flow to survive. The best source of this cash is by fans attending matches, adding to gate receipts and merchandise sales.

    I said last season that I felt there were matches we could have won if the players had had a full and vocal stadium. With a promising looking young squad to work with I think we all owe it to Lee Clark and the players to get down to St Andrews this season and give them all our full support. After all a promotion chasing, well supported club, is a much better proposition to a potential buyer!!


    • StevieW says:

      Some people are of a view, stiffle the cash flow into the club and it will aid the club going into admin. A view I tend to agree with.

      I dont think it matters how well we are dresses in the shop window they do not appear to want to sell. Lets face it they have had enough chances.

      Looks like we are stuck with what we have got.

  • Richard Granfield says:

    My information is that the trial is as good as over. CY is not going to take the stand and as a consequence the “defence rests”.
    The prosecution has completed its case, so all that remains is closing arguments from the prosecution and defence councils and the verdict from the judge.
    Every indication is that CY will be found guilty.

    • StaffsBlue says:

      Maybe… just maybe… the announcement on Monday will be to that effect. Maybe Yeung and Pannu realise that the game is finally up.. and the buy out that Tom Ross has been trumpetting, is about to happen. Then, the money from the sale of the club will go towards a decent defence, after the court reconvenes in October. Then again, maybe not.

      But, everything seems to happening at about the same time, player sales, the court adjournment, the ‘big announcement.’

      Last time so many things aligned at the same time….. a baby was born in a stable. :)

    • KeepRightcroydOn says:

      Now Richard, that would be a good outcome. Except I am highly dubious about it. How could you possibly know that the defence case rests? If that was the case I doubt the trial would have bee adjourned.

  • jazzzy786 says:

    Depressing thoughts – January transfer window

    Burke sold £500k
    Arthur sold £500k
    Shinnie sold £500k
    Reilly sold £750k
    Green sold £750k

    All to stave off administration and provide some cash flow.

    • KRO says:

      While this is a possibility… Blues in league one would be worth sweet FA so i cant see CY letting it go that far

    • oldburyblue says:

      I have a feeling Burke might be gone before January. Our 1 saleable player at the moment….not heard much about him at all since last Season. If ticket sales down and we need the money….bye! Another reason to SUPPORT the Club at this time.

  • RonJ says:

    Thank you for your information. If only….just read about Fulham takeover by a billionaire . As a Blues supporter I will keep right on to the end of the road but I keep seeing “achtung”.
    If there is a billionaire out there that wants a good family club and salt of the earth devoted fans Birmingham City is awaiting you. Make the hairdresser an offer he can’t refuse. You won’t regret it!,,,,

    • StaffsBlue says:

      This is exactly the point. Other than a loan or two… we’re stable. Broke, but stable. As far as I’m aware, we have no other debts as such. Not even the taxman. So what exactly IS the sticking point? Why the hell hasn’t someone come in and bought us?

      No matter how you think about it… it always comes back to the same answer. Pannu. What else can it be?

      • KeepRightcroydOn says:

        Agree. I understand that our only creditor is CY. Unlikely we owe HMRC anything, because they would be more likely than most to put us into admin. Looks like PP has been selling off assets to avoid falling into tax arrears and making sure that staff get paid.
        But how long can he keep doing this? Precisely why we need new owners, and for the life of me I can see why someone would pay north of £200m for a club the size of Fulham (basically that’s the amount that Fulham owe Al Fayed), while a club our size can be snapped up for £40m – because PP has indicated that is what CY will settle for.

  • Tony says:

    Sorry if I’m being thick, but where does it say that there will be a big announcement on Monday. I’ve seen nothing to that effect.

    • KeepRightcroydOn says:

      I agree Tony. Someone yesterday posted that there’ll be a big announcement on Monday, and this has got a few people excited….even me for a short while. Pure fabrication imo.

  • Richard Granfield says:

    This “Big Announcement” reminds me of the millennium bug that didn’t happen on January 1st 2000.
    All we have is Lee’s word of a “rumour from a good source”. Who is the source Lee? No need to give us a name necessarily, but certainly an organisation e.g. a club official, journalist clairvoyant.

  • AndyP says:

    Staffs,everything just clicked into place.big announcement Monday.i think P.P is pregnant

  • Bcfc beast says:

    I wonder if they will hold a fund raising christening at the stadium to get some funds in!?!

  • Tony says:

    Surely it’s the club that should be pregnant, after all that’s what is getting f****d!

  • StaffsBlue says:

    The one bright spot in all this… is that it has to end sometime soon. The incompetant asses can’t keep this up forever. Something has to give. Either they pump money in, sell, or go into admin. If they’ve been holding out for a certain price… then surely, the third option makes no sense at all?

  • Zuludave says:

    Almajir with regards to the possibility of a CY appea,l on what grounds could he seek to achieve this? i.e unfair trial? new evidence or new witnesses?

  • Zuludave says:

    Any chance of doing some digging mate? Surely with the time and costs and implications involved he can’t request a retrial on a whim

  • ken says:

    Hope you all have been to the shops and bought your get well cards.

  • StaffsBlue says:

    Just seen this advice to today’s wingers from Ex-Villa/Wolves winger Steve Froggatt:

    “My advice would be to spend as much time as you can getting one-on-one with a full-back in training – and try a new skill, even if it fails 100 times. Getting crosses in is your biggest weapon.”

    So true.

    • BhamCityJulian says:

      You can’t request a retrial. You can appeal a guilty verdict and one of the outcomes from that is that the appeal judge can order a retrial.

  • George says:

    Obviously CY could not handle a serious court case and the sale of Blues at the same time. Noboby could handle all that pressure. The Defense tactics appear to have been to delay for some good reason and they must have know know about the postponement looming. So they probably just kept limpimg along to buy time to regroup for the court case or to sort out the Blues finances and CY finances in the UK (which are not frozen by the HK court?)

    Blues are selling cheaply for the best possible cash inflow to buy time. Looks like they need say an additional £1m or so per month, on top of income, to survive. Someone must be doing a cashflow and predicting the next crisis, which must be avoided or administration follows and CY losses everything. So something is about to change, over probably the next 3 months, and its got to be money coming in from the sales of more assets (players/ground), a new financial source (new bank deal or benefactor) or the sale of all or part of the club.

  • sutton apex says:

    owners come and go, good times and bad times being a blues fan !! Clark has made some good signings and we are still ere – roll on watford !!

  • brumbie says:

    Who in there right mind would want to buy us ? We cant really call ourselves a big club we have’nt won many trophies and dont get good gates so we should not hold breathes waiting for a billionaire to rid us of our own fu man chu.

  • mark says:

    http://www.birminghammail.co.uk/sport/football/football-news/interview-lee-clark-insists-wont-5097207? bang on the money by Clark – let other people deal with the other side to Birmingham city ( financial worries) I say to Clark bring us success to the blues my son……come on………kro

  • mark says:

    http://www.bcfc.com/news/article/20130713-shrew-move-for-asante-912169.aspx? maybe a good move by Clark keeping him sharp and developing…………

  • mark says:

    http://www.seagulls.co.uk/news/article/birmingham-ticket-update-2013-912197.aspx? just to keep fans informed of the delay from the seagulls……………..

  • Alex T says:

    I think there will be an announcement on Monday, but I don’t think it will be regarding the sale of the club. I’m more inclined to think the announcement will be the signing of Shane ferguson. Either way good news, but assuming Ferguson is in the bag anyway, would hope for the former

  • StaffsBlue says:

    But the signing of Ferguson is hardly a big announcement. That saga’s been going as long as Coronation St.

    Whatever it is, if it’s NOT regarding the sale of the club, it will be just another in a long line of anti-climaxes.

  • waycool says:

    I think there will be an announcement on Monday, And it will not be the sale of the club.
    but the sale of the freehold witch is valued at approximately 12m.

    This would keep the club afloat in the shot term but decrees the overall value of the club
    and whoever buys the freehold would want rent .

    Hopefully I am wrong .

  • Ray says:

    The words of Harry Lauder’s song “keep right on to the end of the road” were never more true than now. We really have to do that before our agony is over. Let’s get down to Stan’s and show them we can take all this and still carry on to the the end of the road!

  • darren says:

    Great article dan as always, and echoes what I have repeated on the site for months now.

    I am disappointed that season tickets are at the same level, admin is the only way this will all end, so why are you all prolonging the agony, we need to boycott giving the club and stop the money keeping them afloat. I am not saying don’t go, but don’t give them money up front, then they may panic and sell off when the penny drops.

    I know I am writing this message in vane and I will be outcast on not being a supporter etcc…… but this is the plain truth. At some point blues fans need to wake up and smell the coffee and do something

    • Chris Walker says:

      Darren, I have to agree with you that the only logical solution, failing the sale of the club, is Administration.
      As I said in a previous response I am not an accountant or lawyer so have no idea as to the wranglings, but understand that it is usually creditors that force owners to apply for administration under the “Insolvency Act 1986”
      Research has shown that in most footballing cases the major creditor is usually the Inland Revenue who forced such a situation.
      We are at present solvent, if the accounts are accurate and therefore, my understanding only, BIHL are the only ones who can voluntarily apply for administration.
      Only a 100% boycott would force the club into administration and that will never happen as 8,000 season ticket sale show.
      As Dan said earlier too, we should get behind the team and any protests should be aimed at the Football League, though the treatment of Coventry City, this is not really a good time for them to get involved.
      I shall once again be going home and away in support of the team and think Lee Clark has got together an exciting team for us to enjoy.

  • Adam says:

    When the coin is flipped at the end of the case (its what it may come down to!)… if it falls on not-guilty (lets say), Carson will be entitled to unbelievable amounts of damages.

    Not to mention numerous increases in his shareholdings…

    I honestly want him to be not-guilty (strange as it seems). Im sure there will be more twists in the tale before any of that happens though.


  • James says:

    Hi, Can I just point out that the stocks of the owners of the club are suspended on the Hong Kong stock exchange, therefore iminent selling of the club has no substance. Without the stocks being reintroduced then there cannot be any sale.

  • lesley says:

    A couple of thoughts.

    1. On ST sales – I note these are as high as last year. This article in the Economist suggests a reason for that. It may not be but there are a collection of clubs where this has been the case in the past. http://www.economist.com/news/international/21581724-football-clubs-can-easily-be-used-stealing-machines-here-instruction-manual?frsc=dg%7Ca.

    2. If one assumes for a minute that the money is laundered and CY is guilty there is a much more pressing reason why he may not want to sell. The money must have come from somewhere – possibly from people who would send round more than a sharply worded solicitor’s letter if the money has gone, particularly if they were talked into it being a good wheeze by CY. Until the money is sold no loss has actually been crystalized and it is possible for the impression to be given that the money is still there and available when the right buyer has been found. Once it is sold and the money has gone that is no longer an option. Regardless of anything else if I was in that position I’d want to hold onto the club for as long as possible as well.

  • mark says:

    It now in the hands of the judge,if the right decision is not taken they will go down the appeals route…..until there no way back……..

Leave a Reply

Personalised Gifts for a Bluenose
Haircuts and League Cups
Open Tax Services
Corporate Solutions UK
PJ Planning
Rodal Heating