Birmingham voluntarily appoint receivers

[AFCB_Mark]

An interesting statement on their site to say the least...
http://www.bcfc.com/news/article/birmingham-city-2275868.aspx

"The subsidiary (BCFC) can fulfil its obligations as a member club of the Football League and shall continue to maintain a strong dialogue with the board of the Football League on this matter."

The fact that they even feel the need to state that is quite odd.

Goes on to say "“For the avoidance of doubt, the appointment of the Receivers .... has nothing to do with the insolvency of the Company. As at the present moment, we do not see any liquidity issue in the Company. "

 

[Muzzle]

So, it sounds as though they may be covering themselves and trying to stay out of administration. I assume (but cannot qualify this), that as they have an owner in jail, there may be a liquidity issue. I'm not sure if the above issue means that they face a points reduction though?

 

[Josesemedosjockstrap]

Southampton got points deducted for similar I believe.

 

[tiltontrev]

This is great news as far as I'm concerned, it'll spell the end of withheld accounts, personal agendas and evaporating finances. The receivers act in the best interests of ALL BCFC shareholders, and have the power of law to force all the relevant information to the top.

This is Carsons swan song, he tried to have the motion blocked apparently, from the football side of things we may face a points deduction and/or other action in the short term but I believe when we come out of the other side we'll be better off for it and these sheisty motherfuckers will hopefully be long gone.

 

[Josesemedosjockstrap]

The points deduction could see drop into the bottom 3 though?

 

[tiltontrev]

I genuinely don't think we'll get a points deduction, the club have acted proactively to voluntarily get the recievers in and try and get the finances in order. We're not 'in the red' or in administration, and relatively speaking we're pretty stable (the non sale of Gray, the new contracts being given to players), the football league have been involved with us from quite early on too, I may be wrong but I just don't see it coming to a points deduction.

 

[AFCB_Mark]

Even if they did get a deduction, there's no way they'd go down. So it doesn't make a massive difference. Although if Brum did avoid a deduction, other clubs will be watching very closely for any precident that they might use in future.

 

[Muzzle]

I think Southampton tried the old 'it's the parent company not us' routine. They were still deducted 10 points.

 

[PUSBCCFC]

Another example of disgraceful ownership in English football. When will the FA/FL step in?