Why didnt Martin just admit there WAS a problem?

[CyrilSneer]

I, as eveyone else is extremely worried about Wednesday. What I just don't get is, why Ron Martin kept denying there was a problem. If he had disclosed this information to the fans, especially during the period when Revell and Betsy were loaned out, us the fans, could and would have helped. Accrington have had a similar tax problem, albeit half the amount that we owe to the Inland Revenue, yet they have organised friendlies against local premiership opposition to raise funds. That was the main reason I refused to believe we were in that much trouble, as surely Martin wouldnt be that stupid as to let us go into administration without trying to do something like Accrington have himself. Clearly I was wrong

 

[Sean 2]

I, as eveyone else is extremely worried about Wednesday. What I just don't get is, why Ron Martin kept denying there was a problem. If he had disclosed this information to the fans, especially during the period when Revell and Betsy were loaned out, us the fans, could and would have helped. Accrington have had a similar tax problem, albeit half the amount that we owe to the Inland Revenue, yet they have organised friendlies against local premiership opposition to raise funds. That was the main reason I refused to believe we were in that much trouble, as surely Martin wouldnt be that stupid as to let us go into administration without trying to do something like Accrington have himself. Clearly I was wrong

Problem, what problem?

All this talk of tax issues and winding-ups, points deduction and the like.

C'mon kids, Ron's just holding onto the money as long as possible and everyone else can go get screwed for the meantime. Is this not obvious?

 

[Crawliano]

C'mon kids, Ron's just holding onto the money as long as possible and everyone else can go get screwed for the meantime. Is this not obvious?

Oh you mean, being a businessman? How dare you think he has advisors and accountants helping him wriggle out of every situation, surely he makes all decisions on a whim?

 

[Sean 2]

Oh you mean, being a businessman? How dare you think he has advisors and accountants helping him wriggle out of every situation, surely he makes all decisions on a whim?

Property developers, it's what they do!

 

[Crawliano]

Property developers, it's what they do!

It's what any sane person does knowing they can earn interest on 600k right up till a deadline...

(in theory...)

 

[Sean 2]

It's what any sane person does knowing they can earn interest on 600k right up till a deadline...

(in theory...)

Precisely, especially knowing that he could get away with it at the last hearing, citing that the HMRC had moved the goalposts at the time.

 

[Crawliano]

Precisely, especially knowing that he could get away with it at the last hearing, citing that the HMRC had moved the goalposts at the time.

And if RM had shat himself and paid up 3 months early I think some would've asked why he didn't hold on to the ~10k that 600k would pick up in interest in three months and use it on wages on temp players...

 

[BLUEBLOOD]

And if RM had shat himself and paid up 3 months early I think some would've asked why he didn't hold on to the ~10k that 600k would pick up in interest in three months and use it on wages on temp players...

A point i alluded to in one of the other countless threads on this subject

Jeez i feel ill right now, i want to go to sleep now, and wake up Thursday and find we breezed through it all

 

[number11]

If there are other creditors of Sufc, or Martin Dawn or Ron Martin personally than it is going to be to Ron's detriment if the scale of the problems are public knowledge. Certainly if I was someone who was owed money by any of the above and Ron started coming clean about how little money he had, then I would certainly act as swiftly as possible to get my debt paid, or at least as early in the queue as possible. Ron seems very good at giving assurances to people in an attempt to stop them demanding repayment immediately.

 

[Shrimpergonzo]

I think the problem is more about his credibility with the funders for the new project than creditors. He is trying to borrow money during a credit crunch and needs to be seen as a safe bet, not being the controlling interest in a sinking ship.

 

[Holy Joe]

And if RM had shat himself and paid up 3 months early I think some would've asked why he didn't hold on to the ~10k that 600k would pick up in interest in three months and use it on wages on temp players...

No way you're earning that sort of interest in a buisness bank account. Would imagine most business accounts are paying around 0% at the moment.

 

[The Late One]

No way you're earning that sort of interest in a buisness bank account. Would imagine most business accounts are paying around 0% at the moment.

And the Revenue charge interest on late payments, plus court costs, legal fees etc.

 

[Beefy]

I think the fact that we've been so secretive hints towards the problem being resolved. As you rightly say, usually when a Club is really struggling financially they are shouting it from the roof tops. £600k is a lot of money but a few organised fund-raising events would have put a dent in it.

We're not going to know until Wednesday, I guess. Ron has always said that the situation is under control. Let's see if he's right.

 

[Yorkshire Blue]

If you had a business that was struggling, would you really announce it to the world?

Or would you keep quiet and hope that people don't start demanding cash up front for items you previously had on credit?

 

[SARF]

He is probably doing it to watch the entertainment on here

 

[Pubey]

He is probably doing it to watch the entertainment on here