Torquay United Fans Forum

JimNichol'sdog wrote: ↑03 Mar 2024, 17:36 Slightly off topic, but I see that another club with a charlatan chairman, Accrington Stanley, has dismissed its manager John Coleman and assistant Jimmy Bell in a 42-word statement.

These two had given years of loyal service to the club, but the board sought fit to dismiss them in an undignified and perfunctory manner. Football club chairmen must be challenging estate agents, MPs and journalists in the race for the most despicable career path.

Except they have issued a wonderful tribute to both the manager and assistant saying amongst other things that Accrington wouldn't be an EFL club without the two of them.

leetufc wrote: ↑29 Feb 2024, 18:14 Think that was actually GJ

And you don't think GJ didn't get paid for February? At least!

First one off the wage bill

CO has covered the wages.

SuperNickyWroe wrote: ↑25 Feb 2024, 21:56 The only reason we need a Plan B is because Osborne gambled and didn't get what he wanted.
And you haven't answered my 14 day query......

Not sure whether you deliberately miss the point or are just being plain awkward. It's easy to say "again, incorrect", without offering an alternative.

IF the material breach, ie. non payment of salaries, is committed, players are free to leave. It is normal not to do so for 14 days, but that assumes the Administrator wants to keep them and is trying to find a way around the obstacle. In the event that a club is in the absolute mire with no cash to run the club, it suits them to run the 14 day clock down.

All of the above is in the event of an Administrator being appointed.

Lastly, FL rules may still apply, in that players can only play for a maximum of 2 clubs in any one season. Not sure whether this still applies in Administration.

Southampton Gull wrote: ↑25 Feb 2024, 22:02 Plan B is already in discussions with Osborne to buy the club. Of course you know that......

All is good then, no problem.

OK, I bow to your superior knowledge.
I wish you bloody good luck if Smurthwaite buys the club....boy will you need it.

Woefully overspending is not a problem as long as someone foots the bill. Stoke do it, as do Man City, Chelsea and many others.
Unfortunately so did Darlington, Bury, Chester, Maidstone and Aldershot amongst others. Then the funds stopped.
Just for the record, I'm not particularly a fan of Osbourne, but simply making the point that you need to have a plan B, before rejecting plan A

Just ask the Kettering fans about Smurthwaite. Ask the Vale fans about him as well. He has one of the worst reputations in football.

Any player is able to terminate his contract with the club due to the material breach committed by the club in not paying him.
It is generally accepted that players give 14 days to resolve the issue, before leaving.

Time will tell Gull. Your opinion is noted, loud and clear, others have different opinions.
At the end of the day, someone has to pay the bills. Not everyone is fortunate to be able to pay for 2 tickets in these tough times, I'm pleased that you can.

No, he's worse! He tried everything that Osbourne tried but it didn't cost him a penny. He sold out and made a huge profit. If he buys it, then you'll think Osbourne was a saint!

Someone, an Administrator perhaps, needs to assess the situation and see what's possible in the very short term.
2 home games a month has achieved a £20k a week loss, so that's not the answer.
Basically, the club is woefully overspending and that's OK as long as someone keeps covering the shortfall. When he's driven out.....disaster looms, I'm afraid.

Apologies for "going quiet" lol...other jobs to do. Also apologies for calling the poster clueless, that was wrong.
Including NI, pension costs and other expenses, the monthly salaries cost is in excess of £100k. The club has been losing over £20k a week for years, that's nearly £85k a month.
The immediate issue is not the debts, whom ever they are owed to, but cash flow. Players contracts will include an agreement that, if not paid with 14 days, they are entitled to a free transfer and can move immediately. Since none of them are worth anything, the free transfer is irrelevant, but they can leave.
That would be a bonus to any Administrator appointed as the only funds he will have are those left in the club when appointed and any generated afterwards. I would suggest that this will be insufficient to continue.

In excess of £100k I would have thought