Tekel Towers » Worrying rumour

Tek · 24/4/2016 10:23 pm

I heard today.

Dundee United wouldn't survive an Administration and it would be Liquidation instead in the event of an insolvency.

I have no idea if this is true at all but I certainly have no cause to disbelieve the person who told me it.

TheShed · 24/4/2016 10:49 pm

It's been said before that's how it would go, is it heading that way tho?

I certainly don't think we're near the worst yet.

PatReilly · 24/4/2016 11:54 pm

I'd heard on Friday that Simon Murray wouldn't play again under Mixu. And believed it.

Not rubbishing Tek's source, but although I am not in any way an economic expert, it seems unlikely that it would (be allowed to) go that way, for a variety of reasons.

Firstly, administration wouldn't really suit the Thompson family, would it? They lose control of the asset they may wish to make money from....

Secondly, liquidation would take those who are owed the soft loans to refuse a cva, and thus lose all their input for the sake of United going down the tubes.

Thirdly, the football authorities would have to stretch their rules and allow United back into their system if liquidated, even if they wouldn't be the same organisation/company/club, and dress it up to an extent that would expose what they previously did with nuRangers.

For many folk this would be a step too far.

SlatefordArab · 25/4/2016 8:58 am

There have been clubs in far worse financial situations than United and haven;t went bust. We are hardly Clydebank or Airdrie are we? Just look at the shambles that crowd were in across the road, they didn't go to the wall did they? I'm not being blasé about this though, I know when we go down things are going to be tough financially.

PatReilly · 25/4/2016 9:07 am

PatReilly wrote:
Secondly, liquidation would take those who are owed the soft loans to refuse a cva, and thus lose all their input for the sake of United going down the tubes.

I'll revise this one slightly: those who helped remove bank debt via soft loans may think an admin event would be beneficial to remove ST, although not liquidation.

SlatefordArab wrote:
We are hardly Clydebank or Airdrie are we?

Nor are we a Gretna, but we are some place between these clubs and the old Rangers.

Tek · 25/4/2016 9:50 am

I'm just passing on what i heard.

I don't actually believe it would ever come to that and FWIW upon speaking to someone else last night who is in a good position to know about our finances it was conveyed to me that although Admin couldn't be ruled out,they don't think it would or could ever get to the Liquidation stage.

25/4/2016 9:55 am

I heard/read this rumour verbatim some time ago. Can't remember where. Maybe on here, or on Mad.

Anyway, it was shot down in flames at the time for technical accounting reasons, not from complacency or arrogance.

shedba · 25/4/2016 1:36 pm

Was in hosp after the match yesterday couple of directors in as well, when they left talk in there was ST the **** will put us into adminastration next season, and that a deal to sell Fraser already looks 90% complete (club wasn't mentioned yest) probably England! Also spittal I'd imagine if that is the case could follow, can't think of any others that will be sold! Pr*** is ruining our club

blackandtangerine · 25/4/2016 3:24 pm

Goodie Conway 2 wrote:
I heard/read this rumour verbatim some time ago. Can't remember where. Maybe on here, or on Mad.

Anyway, it was shot down in flames at the time for technical accounting reasons, not from complacency or arrogance.

I'd posted that the arabtrust associate director said at a meeting between fed and trust that there wouldn't be administration it would be liquidation. His words.
Incidentally the silence from the ass director is puzzling. Time for him to speak up.

Tek · 25/4/2016 4:19 pm

blackandtangerine wrote:
Incidentally the silence from the ass director is puzzling. Time for him to speak up.

As if on cue (well it's the AT Chairman actually,not the Associate Director) but.......

'Administration would be ARMAGEDDON for the club'

Fuck sake.
http://stv.tv/sport/football/1351878-boardroom-and-boss-needs-to-changes-says-dundee-united-fans-group/

Tek · 25/4/2016 4:41 pm

It was someone from AT that uttered the comments that prompted the OP btw (not Gavin Muir or Colin Stewart though).

Pretty worrying comments from Gavin Muir there to say the least.

SlatefordArab · 25/4/2016 5:27 pm

shedba wrote:
Was in hosp after the match yesterday couple of directors in as well, when they left talk in there was ST the **** will put us into adminastration next season, and that a deal to sell Fraser already looks 90% complete (club wasn't mentioned yest) probably England! Also spittal I'd imagine if that is the case could follow, can't think of any others that will be sold! Pr*** is ruining our club

The one thing that makes all that seem very untrue is the bit about another club buying Fraser.

25/4/2016 5:56 pm

Tek wrote:
It was someone from AT that uttered the comments that prompted the OP btw (not Gavin Muir or Colin Stewart though).

Pretty worrying comments from Gavin Muir there to say the least.

To be honest I found these comments unhelpful - if admin equals Armageddon it might have been a good idea for him to explain why.

Obviously it's a worrying time and in worrying times it's easy to conjure up worrying scenarios but spouting off to the SMSM achieves nothing.

Last edited by scarpia (25/4/2016 5:57 pm)

Tek · 25/4/2016 6:16 pm

scarpia wrote:
Obviously it's a worrying time and in worrying times it's easy to conjure up worrying scenarios but spouting off to the SMSM achieves nothing.

I disagree Scarpia.

If the AT are speaking out against him it puts the heat even more on Thompson and forces a response to their comments/predictions.

His comments might also unite the two biggest fans groups (Fed/AT) and can lead to them working together to bring about a change of Onwership and remove the current incumbents.Something that needs to happen imo,the support need to be United.

Apart from anything else if Gavin Muir believes that the clubs finacial future is in anyway at risk it would be his derelection of duty not to convey that to the supporters as the figurehead of Utd's 3rd largest shareholding.

RogerTheAlien · 27/4/2016 1:32 am

If Scott Fraser signs for either of the old firm I'll top myself.

shedba · 27/4/2016 3:45 pm

Wouldn't surprise me if he did, one lasts boot in the baws fae Thompson before he jumps ship! Hope the young lad stays for a season in the championship think he could be a star and will go for a lot of money in another year or 2!

Mass Debates · 27/4/2016 8:24 pm

RogerTheAlien wrote:
If Scott Fraser signs for either of the old firm I'll top myself.

Dining worry Rog I've been topping myself for years and apart fae my eyesight I'm fine 😏