Well, that's what we've been told, anyway. HMRC's challenge to the CVA will, supposedly, be heard then, and then we shall see. In many ways the best case scenario (and certainly in the short term) would be for the challenge to be tossed out, Bates would win, regain control, United would be relatively debt free, out of administration, restored to the Football League, and can begin planning for next season. However, we're stuck with Bates for at least 2 more years. If the challenge succeeds, we return to limbo and the future looks questionable. Nobody really seems to know what will happen, supposedly other buyers exist if they get the chance to make an offer. The common opinion is that the administrators, KPMG, would buy the club for £1 and sell it to the best offer for the creditors (which may or may not include Ken Bates's chums at Astor and FSF, I believe the two groups are called) - in which case we get limbo, hassle AND Bates and HMRC STILL don't do right well out of it. Alternatively one of the rival bids, Redbus or Revie & co. may stump up the cash, get the club and then we shall see if the devil we don't know is better than the one we do
Personally, I would be surprised if HMRC challenged without being fairly confident that they would win, so I expect the saga to continue for a while yet, whichever bid wins could face yet MORE challenges, presumably, especially if Bates loses and his mates have a hissy-fit over it and try to block the new deal. Whether or not they can do, to be honest, I don't know - but another 28 day limbo period takes us into next season, not ideal unless the transfer embargo is lifted and we can begin to sort the squad out
Oh to be able to enjoy the football again without all the related hassle!
Wednesday, 4 July 2007
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment