Question Bust ?

[CC51DAS]

Well with just a few days to go it is still guesswork on our part as to whether the club will survive this coming week.

Clearly, it would be nice to know whether RM has the dosh and to save us all the worry perhaps he could make a short announcement to this effect on here.

One word will do - 'yes' or 'no'.

And it would also be of interest to know whether or not the 'Consortium' have ceased to be interested - something EB has declined to expand on in other threads.

 

[GBJ]

Serious question, if RM did have the funds in place right now to pay, what is the benefit of waiting until D-Day to sort it? Wouldn't it be better to get it out of the way ASAP?

 

[Yorkshire Blue]

Serious question, if RM did have the funds in place right now to pay, what is the benefit of waiting until D-Day to sort it? Wouldn't it be better to get it out of the way ASAP?

What do you gain by paying it now?

 

[CC51DAS]

Even if he didn't actually pay it right now, which would at least permit a sigh of relief all round and perhaps help motivate the players, he could let it be known that the funds are in place and he is going to pay it.

To be honest, I was reasonably relaxed about this till I read the latest sob story on his blog and I am now wondering what he was building up to

 

[Yorkshire Blue]

Even if he didn't actually pay it right now, which would at least permit a sigh of relief all round and perhaps help motivate the players, he could let it be known that the funds are in place and he is going to pay it.

To be honest, I was reasonably relaxed about this till I read the latest sob story on his blog and I am now wondering what he was building up to

What difference does it make it he comes out and says the money is in place? Half the people won't believe him anyway, and the players will still not be motivated because they haven't been paid.

 

[jamesmut2000]

I would hazard a guess that the outcome of the council meeting on the 13th will have some bearing on the following days proceedings.

 

[GBJ]

What difference does it make it he comes out and says the money is in place? Half the people won't believe him anyway, and the players will still not be motivated because they haven't been paid.

2 reasons;

1) The club is in turmoil. Loyalty to Ron is at an all time low. The fans who have supported both Ron and the club would feel a lot easier about the situation if he payed it now. I can't see what Ron would have to gain by keeping everyone in suspense.* Can you answer that? Im not saying it in a derogatory way towards him, you or anyone else, but i actually don't know what he has to gain by it.

2) The players will know that they have a club to actually play for still for the forseeable future. It may not make a difference to some attitudes, but if it improved some attitudes (a handfull of the team), surely that is better than nothing?

*This is on the basis that Ron actually has the money

 

[GBJ]

I would hazard a guess that the outcome of the council meeting on the 13th will have some bearing on the following days proceedings.

I'm either being thick or i've missed it, but what is happening on the 13th?

 

[pringlejon]

I'm either being thick or i've missed it, but what is happening on the 13th?

Meeting with the council in regards to the sainsbury's paying 3mill upfront and further re-negotiated debt payment to council being accepted.

 

[Yorkshire Blue]

2 reasons;

1) The club is in turmoil. Loyalty to Ron is at an all time low. The fans who have supported both Ron and the club would feel a lot easier about the situation if he payed it now. I can't see what Ron would have to gain by keeping everyone in suspense.* Can you answer that? Im not saying it in a derogatory way towards him, you or anyone else, but i actually don't know what he has to gain by it.

2) The players will know that they have a club to actually play for still for the forseeable future. It may not make a difference to some attitudes, but if it improved some attitudes (a handfull of the team), surely that is better than nothing?

*This is on the basis that Ron actually has the money

If you keep the money in your bank account you gain interest (or probably more pertinently, until drawdown on the loan you don't get charged interest).

 

[GBJ]

If you keep the money in your bank account you gain interest (or probably more pertinently, until drawdown on the loan you don't get charged interest).

Would a few days/weeks build up enough interest to make such a positive impact?

 

[Yorkshire Blue]

Would a few days/weeks build up enough interest to make such a positive impact?

Do you not think it is wise to be saving all the pennies we can?

The difference between paying immediately and paying on the deadline is probably a 4 figure sum, if that amount was properly invested.

 

[Medway Blue]

He hasn't paid it/won't pay it yet, because he won't have the cash in hand yet. As usual, it'll be a last minute 'skin of the teeth' job and I'm sure he (and possibly Webb) are meeting with potential helpers on a daily basis.

 

[Tangled up in Blue]

Do you not think it is wise to be saving all the pennies we can?

The difference between paying immediately and paying on the deadline is probably a 4 figure sum, if that amount was properly invested.

As much as 9,999 quid you think?
Is it really worth all the hassle to save that?
Surely the Chairman's already spent a fair chunk of that(if not more)on legal fees.Then again perhaps he doesn't pay his Counsel on time either.;)

 

[GBJ]

Do you not think it is wise to be saving all the pennies we can?

The difference between paying immediately and paying on the deadline is probably a 4 figure sum, if that amount was properly invested.

Yes i'd agree we need every penny we can get. If it is the case of gaining a 4-figure sum, then it's understandable. However, it's all swings and roundabouts as to whether it is in-fact a 4 figure sum that has been accumulated.

Surely the Chairman's already spent a fair chunk of that(if not more)on legal fees.

It's a very daunting thought.

 

[united we stand]

Do you not think it is wise to be saving all the pennies we can?

The difference between paying immediately and paying on the deadline is probably a 4 figure sum, if that amount was properly invested.

actually the interest will be far far less than £35 a day and I am being way optomistic . £10 a day would be closer

 

[jamesmut2000]

I'm either being thick or i've missed it, but what is happening on the 13th?

Ron Martin & Sainsburys are asking the council to change the originally agreed funding arrangement that was made in the original 106 agreement - particularly the £6m that is earmarked for The Town Centre Regeneration Contribution
.

Sainsburys are willing to underwrite the first £3m of this but want those payments staggered over the next two years with the final £3m being payable in approx 5 years time.

The most worrying statements in the application are quoted below :

In the circumstances, the applicant has asked the Council to consider a reformulation of the Town Centre Regeneration Contribution. Without this change the scheme will not be deliverable in its current form; particularly given the cost of other acquisitions which have been necessary to deliver other elements of the scheme, e.g. the Prospects College site.

In simple terms, the applicant states that the current arrangements are not financially viable and likely to lead to the loss of the scheme. Currently the cost of delivering all the necessary elements of the scheme leads to an estimated negative asset value of around £10,000,000. Such a negative value is not considered sustainable and not acceptable to SSL.

If the council do not sanction this change in the 106 agreement then at best I can see us in administration first thing on the 14th and at worst, well I'd rather not contemplate that ending! The only positive bit is that the report to the council is thoroughly recommending the changes be approved. Also I can't see the council turning down the opportunity to receive £6m,no matter how long it takes to receive it.

 

[bazzashrimper]

It does sound from posts on here like its a choice for the council of getting £3m soon + £3m in 2017 OR getting £0. Hopefully it will be a short meeting!

 

[Beefy]

If the 13th goes well then we'll pay the debt. If it doesn't we'll take Administration.