tomogull wrote:
I am reluctant to drag this thread even further than it is, but call me naive if you like, but I trust the chairman and Steve Breed to come out and tell us if there were severe financial concerns. We were promised transparency from the start and they have so far been far more forthcoming than the Flowerpot Men, Bill Phillips and Simon Baker.
Given the History it is important to be Transparent.
:rules: :rules: :rules:
mushroom wrote:
Any creditor can wind up a business for non payment of a debt if happy to pay the costs
The most likely party would be as you state, be HMRC which the Club is fully up to date with so no immediate risk there
Only HMRC have any real power when it comes to winding up a football club.
All debts to HMRC and other football clubs have to be paid in full, as per the Football Creditor's Rule, all other creditors - unsecured creditors - are forced to accept 10p in the £1 or whatever the Administrator decides.
A football club entering Administration is not like a normal business going into receivership - it's more along the lines of a personal bankruptcy.
Yells wrote:
Given the History it is important to be Transparent.
:rules: :rules: :rules:
Would you please stop putting those irritating little yellow things at the end of every post and would you also please stop using capital letters incorrectly on words in the middle of a sentence? I would also be grateful to aid my understanding of your posts if you could differentiate correctly between 'to' and 'too'. Don't worry, you got it correct this time. Thank you very much ......
Bomber wrote:
Only HMRC have any real power when it comes to winding up a football club.
All debts to HMRC and other football clubs have to be paid in full, as per the Football Creditor's Rule, all other creditors - unsecured creditors - are forced to accept 10p in the £1 or whatever the Administrator decides.
A football club entering Administration is not like a normal business going into receivership - it's more along the lines of a personal bankruptcy.
Realy
So Martin Foyle worked for HMRC when he served winding up petition on Hereford
Bomber wrote:
Only HMRC have any real power when it comes to winding up a football club.
All debts to HMRC and other football clubs have to be paid in full, as per the Football Creditor's Rule, all other creditors - unsecured creditors - are forced to accept 10p in the £1 or whatever the Administrator decides.
A football club entering Administration is not like a normal business going into receivership - it's more along the lines of a personal bankruptcy.
Its not just Football Clubs but Football Creditors which includes Players, Managers and of course ex Managers if money is outstanding.
mushroom wrote:
Realy
So Martin Foyle worked for HMRC when he served winding up petition on Hereford
Martin Foyle served the winding up but it was backed by HMRC - I doubt on his own the club would have folded.
Anyone with a debt over £750 can serve the petition, but there is a cost greater than this to do so. Therefore realistically the only people who will serve notice are those with significant debts where it is in their interest to pay the fees and can afford to - in most cases this will only be HMRC.
All this talk of winding up is nonsensical anyway and just designed to scaremonger the fans - if we were two weeks away from going under we would know about it. Players would not be getting paid and HMRC would be knocking at our door, we wouldn't have signed a new manager, assistant manager and right back in the last couple of weeks...
So we've established George and Mushroom are the same person. Someone who claims to know a lot of the finances of the club but cannot say how or why. I'll await further developments but so far it is apparent that these '2' users are dealing in hearsay and not a lot more.
I wonder if we can develop an ignore button on the forum so that way their protestations for freedom of speech would be upheld but those of us who don't care what they are saying could get the forum back.
The budget for 600k is already used up and spent with lengths of contracts, etc. As far as Im aware that doesnt incur payments for those who are on gardening leave and its just the playing budget. I will check later tonight or tomorrow when i get a chance too. That 600k figure is rising - mainly because of paul Cox being gone and having to have been replaced by Kev Nicholson who commands a wage , and more players than initially thought being signed. That 600k for the budget will be covered by 1800 gates. At the moment gates arent averaging that so there is going to be a loss at the end of the season and a struggle until then.
The Only way it will change is....
1 - the people of Torquay rally and get behind the club and turn out in numbers of 2000 plus for every home game.
2 - one of the players get sold for a big fee (£50,000 plus would be nice.
3 - a good run in the fa cup
KeithMalone wrote:So we've established George and Mushroom are the same person. Someone who claims to know a lot of the finances of the club but cannot say how or why. I'll await further developments but so far it is apparent that these '2' users are dealing in hearsay and not a lot more.
I wonder if we can develop an ignore button on the forum so that way their protestations for freedom of speech would be upheld but those of us who don't care what they are saying could get the forum back.
George wrote:The budget for 600k is already used up and spent with lengths of contracts, etc. As far as Im aware that doesnt incur payments for those who are on gardening leave and its just the playing budget. I will check later tonight or tomorrow when i get a chance too. That 600k figure is rising - mainly because of paul Cox being gone and having to have been replaced by Kev Nicholson who commands a wage , and more players than initially thought being signed. That 600k for the budget will be covered by 1800 gates. At the moment gates arent averaging that so there is going to be a loss at the end of the season and a struggle until then.
The Only way it will change is....
1 - the people of Torquay rally and get behind the club and turn out in numbers of 2000 plus for every home game.
2 - one of the players get sold for a big fee (£50,000 plus would be nice.
3 - a good run in the fa cup
How? Are you currently involved at the club? A recent employee who still has access to IT? Do you have a access to the accounts? How are you going to check? Who the f*(k are you?
Gary Johnson's Yellow Army! Yellow Army! Yellow Army!
PhilGull wrote:
How? Are you currently involved at the club? A recent employee who still has access to IT? Do you have a access to the accounts? How are you going to check? Who the f*(k are you?
Spoken to my source and they say the budget is just players and management. They dont know the overall club budget but would suspect it is a bit more.
Oh my god!! Give it a break man....seriously!! It really is getting boring now especially commenting on a thread that is long gone and not appropriate anymore. He resigned weeks ago....move on!!
Or go and bore some other clubs forum and leave Torquay United fans to talk about the current proceedings at Torquay and not what you think/might happen or cause issues which obviously aren't happening!!
You can tell us all you want but we will still be Torquay United and no one will stop us!!!
