What exactly happens if/when we go into admin? Both legally but also psychologically. What are the complete repercussions? As I understand it (and I know very little about this) someone is put in charge of getting all our creditors paid and we get a ten point deduction. Who are our creditors and how muc? What are our assetts other than the Vic? What happens to the rest of the debt (presuming we owe more than we have in assetts)? On the psychological side, I fear we will be hit by much more than a ten point deduction. Being such a young side, suddenly being on the brink of relegation rather than chasing the playoffs, we'll be in deep doodoo. Also, come january - what are the chances of us signing anyone being in admin? All this said, I'd take relegation over bankrupcy any day. And who knows - we may just manage to survive though I severely doubt it.
Tbh I can't see us going into administration. The offer the Russos put to Ashcroft is probably better than administration. Either Ashcroft will buy the club or the Russos will. Those are the only options I see.
But as someone else suggested - if we go into admin, the ground will be up for sale in order to pay back the Russos - and who wants to get his hands on the ground? Ashcrost! And if the club seizes to exist then there is no reason for the Stadium to be in that location - hey presto - he's got a hole!
Everybody loses out with administration. If Ashcroft wants the land he's better off paying the Russos. This is probably the cheaper option.
If we do go into administration then a developer working with the NHS will snap up the ground. The Russos will get their £5million back, debts will be paid, all teh other creditors will get paid out of the remaining money and anything left will be proportionataly paid to other share holders. It depends on how big the debts are. Not a lot i would have thought as most of it is covered by the Russos loans. It could be that Ashcrafty knows exactly the value of the land, what the debt is and how much he is going to get back from the remaining funds. If that figure is higher than the Russos have offered then he isnever going to sell out.
