What is happening with Collins article,is exactly what the potential buyer wants,he planted the story with no doubt.
The debt is currently around 6mn with Lombard ,secured by Stadium,and as someone mentioned on here before 14.6mn of Bonds owned by Murray,Chappell,Whitehand and Sumners,for which they have waived interest for the past year.
The sale of assets is approved by Shareholders and 1.5mn of funds is sitting there as debt,but will disapear if sales go through,so total long term debt if Takeover never happens will be 21mn .
To run a company you need working capital ,and there is currently a cash shortfall in the company ,but player sales will wipe most of that out,balance funded by Bank and Directors.
So I think you will find that the current board will keep this club alive,there is no merit in administration,and no financial benefit to current investors.
Murray said current board would wipe off 30mn of investments for right buyer,my guess is he means all the share value,as it is hard to see how club worth more than debt value of 21mn.
Buyer is gambling that current board will wilt under pressure,but as of yet we have seen no public announcement that a written offer would demand,under takeover code,so is he for real?,who is he?,would Peter Varney drag it on this long and squeeze his old friends and employers like this.?
This Club has been through 1984,early 1990´s and has always survived,we have a Board of 15 Directors the majority of which have invested 1mn or more of their hard earned cash in this club,there will always be investors as we are at the heart of south east´s development and in an Olympic borough,keep positive.
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Your overall comment is interesting and helpful, so I want to make clear that I'm not taking issue with it. However I'd like to defend PV here. He is, as I understand it, only brokering the deal. He's gone off and found potential investors (just as, I understand, he was instrumental in bringing in Zabeel). So PV himself is blameless of any dragging. Its he investors' money and they will drag it along as long as they see fit. However we don't know who can rightly be accused of 'dragging' here. We don't know when PV first brought these investors to the table. Due diligence takes time, and can only start when the sellers agree in principal to a deal with a number on it.
Finally while I agree with you that the story benefits the buyer in negotiating terms, the term "plant" is demeaning to the journalist, and while I accept this happens, I doubt it fairly applies here to Mick Collins. He has been on this case for months.The only way he can write something is if people talk to him. When we were doing the Valley party campaign we spoke to journalists all the time, because it helps make their job easier, but this did not mean they printed what we wanted. They went away, checked things out, including with opponents, and then printed what they thought was a fair summary of the news.