Northampton to be sold to Indian Consortium

[EricSabin]

Local rag says the figure is under £100k (that we owe) and we have until November to pay it. Still a worrying development as I don't think the council would put us into administration/liquidation, but HMRC definitely would.

 

[mowgli]

Local rag says the figure is under £100k (that we owe) and we have until November to pay it. Still a worrying development as I don't think the council would put us into administration/liquidation, but HMRC definitely would.

Southend have got away with it for years to be fair so maybe you can cheat the system as well.

 

[AdamStag]

Given how HMRC appear to be with clubs now, I'm surprised clubs still bother trying to mess them around.

Looking a bit shifty at Northampton, but I am sure it'll blow over.

When I sarcastically commented on the stand taking a while to be built on the opening game of last season, I didn't think it would still not be completed by this stage!!

 

[LordJord]

More information come out today. Now the builders who were hired to build our stand have had their say.

http://www.smfserver.com/forums/thehotelend/index.php/topic,13642.0.html
For those who can't be bothered to read it it basically says the company were asked originally thinking they would be building something worth doing it, then told to build a budget stand. They have been paid 400k, they are owed over 2 million more.
Bare in mind we were given a 12 million loan. Where has all that cash gone..?

 

[BigDaveCUFC]

looking like your lot are seriously f*cked.

Sounds terrible to say this, but i cannot see you lasting the season, is looking more and more like you could be the first league club to have been shafted in the ways usually afew non-league clubs have been...........and them clubs all go bust.

 

[Richard Cranium]

Oh dear. Terrible news. I hate how people can do this to Football Clubs. They are so so much more to alot of us like you and me than just another football team.

 

[womble76]

So who is still paying the players wages?

 

[EricSabin]

Dunno womble.

Devastated to say the least. One man has broken us, one man. We need that tax bill cleared then we can breathe slightly easier.

 

[AtaturkOzgutson]

The worst part about situations like this is that there's probably a section of Northampton fans singing the praises of doing an "AFC Northampton" because it'll be fun bumming Raunds, Stamford and Market Harborough.

Those people won't deserve it WHEN Northampton survive this. Good luck guys, we haven't forgetten your help in our time of need at the Abbey. We know how hard it can be to have someone raping the club from inside, keep shouting because if we hadn't when all hope seemed lost, we'd have died too.

Good luck
#wehateboromore

 

[mowgli]

So Northampton owe £13,000,000 plus a tax bill,fuck me! I hope Northampton can find a buyer but i don't hold much hope,i'd hate to be a Northampton fan at the moment but good luck.

 

[LordJord]

So Northampton owe £13,000,000 plus a tax bill,fuck me! I hope Northampton can find a buyer but i don't hold much hope,i'd hate to be a Northampton fan at the moment but good luck.

Exactly. It's a bit beyond getting the buckets outside the ground out now.

 

[womble76]

Its not as simple as that is it. It never is! Surely the debts are owed by various dummy corporations etc rather than the club itself. The northampton will pay off the tax bill, fuck over everyone else by liquidating all the dummy corps and paying nothing.
Or do the club actually owe that money. I doubt it!

 

[BigDaveCUFC]

The big question at the moment is where has that £10 million gone.

You got £12 million, about 2 million of that (at most....and then its doubtful) has gone into the building work, now Council and Builders both want money....................that money has gone somewhere.

either you've been hit with one hell of a scam or its going to be a police issue or else surely that money is easily re-paid.

This is where joking aside I worry about our current owners being sucked into some trap with fake billionaires.

 

[EricSabin]

Hopefully Cardoza will get a knock on the door soon

 

[LordJord]

The big question at the moment is where has that £10 million gone.

You got £12 million, about 2 million of that (at most....and then its doubtful) has gone into the building work, now Council and Builders both want money....................that money has gone somewhere.

either you've been hit with one hell of a scam or its going to be a police issue or else surely that money is easily re-paid.

This is where joking aside I worry about our current owners being sucked into some trap with fake billionaires.

I think this is the key. Most people believe we have been had to be honest. Otherwise why would the HMRC bill or the loan repayments not be made? I have no idea how this will all play out. Who would purchase a league 2 club with over £12 million debt? Not to mention the millions that are needed to complete our stand. Doubt the £12 million will ever be seen again, but the council seem to have some responsibility in this as well so hope some of them answer some question.s

Worrying times to say the least.

 

[Shrimpurh]

Southend have got away with it for years to be fair so maybe you can cheat the system as well.

A Shrimper always pays his debts.

 

[LordJord]

Former Oxford Chairman Kelvin Thomas is rumoured to be part of a consortium interested in purchasing the club. Former Diamonds owner Max Griggs rumoured to be interested also. Any info on Kelvin Oxford fans?

 

[mowgli]

Former Oxford Chairman Kelvin Thomas is rumoured to be part of a consortium interested in purchasing the club. Former Diamonds owner Max Griggs rumoured to be interested also. Any info on Kelvin Oxford fans?

Didn't Griggs destroy Rushden by being over ambitious?

 

[EricSabin]

It's Stephen Griggs, Jord

 

[LordJord]

It's Stephen Griggs, Jord

Ah my bad! As long as he's got cash I don't care who it is. (To a degree)

 

[AtaturkOzgutson]

Didn't Griggs destroy Rushden by being over ambitious?

His ball, if he wants to take it home with him....

 

[LadyWomble]

Didn't Griggs destroy Rushden by being over ambitious?

That's a bit harsh. When Griggs bowed out of R&D he gifted the ground, zero debt and a tidy sum of cash to the supporters trust. After about a year, they decided they preferred the traditional benefactor model and sold out to ANO. From then on, it was a car crash. His reasons for bankrolling a merger of 2 clubs in an excellent though expensive to maintain new ground in the first place is another matter! It was rumoured that Northampton's then directors turned down his offer of finance/directorship but Cobblers fans are better placed to comment on that.

 

[EricSabin]

I think he left to set up the Diamonds because he wanted more control at Northampton but the other directors basically said no

 

[EricSabin]

News today. Lot of prospective buyers meeting about the land/club. Council met the buyers today (they are no longer prospective buyers), the Cardozas company who owe Buckingham (the builders) were wound in court today. Henley Homes want to buy the land for housing. An independent review has been ordered, a review of the club has been ordered, an independent expert has been appointed to help try and figure the whole thing out.

Meanwhile, Kelvin Thomas is really interested in buying us, so adding things up it looks like he will be the man to try and drag us out of this hole.

My head hurts

 

[Kenneth E End]

That's a bit harsh. When Griggs bowed out of R&D he gifted the ground, zero debt and a tidy sum of cash to the supporters trust. After about a year, they decided they preferred the traditional benefactor model and sold out to ANO. From then on, it was a car crash. His reasons for bankrolling a merger of 2 clubs in an excellent though expensive to maintain new ground in the first place is another matter! It was rumoured that Northampton's then directors turned down his offer of finance/directorship but Cobblers fans are better placed to comment on that.

Mr Cousins who took over at Diamonds is still in football. He's an associate in a football agency, alongside Kevin Nicholls and Paul Terry (beacons of society) representing young lower league footballers - Jake Howells is one. Why anyone would want too be looked after by these people is beyond me.

 

[Kenneth E End]

Meanwhile, Kelvin Thomas is really interested in buying us, so adding things up it looks like he will be the man to try and drag us out of this hole.My head hurts

He wasn't Mr Popular was he at Oxford?

 

[EricSabin]

Wilder loves him

 

[rudebwoyben]

Mr Cousins who took over at Diamonds is still in football. He's an associate in a football agency, alongside Kevin Nicholls and Paul Terry (beacons of society) representing young lower league footballers - Jake Howells is one. Why anyone would want too be looked after by these people is beyond me.

Who is more of a cnut, Paul Terry or his brother?

 

[yellow]

Kelvin Thomas did absolutely bugger all when he came to "advise" Thea Bristow at the end of last season. Apart from take a (rumoured) nice, hefty chunk of cash back to the States with him.

 

[Pooliekev]

Good luck with it. A common complaint amongst our more vocal knob heads is that we should be hurling cash at the team. If it's someone else's cash you end up in a very smelly place. Especially if that someone else is asking for taxpayers money back.