Friday, 27 March 2009

No Administration in the Championship...

The deadline for going into Administration and our ten point penalty this season passed virtually unnoticed yesterday.

No great surprise for us, as our third-party debt is relatively small. There being little point in the Board seeking to write-down debts to themselves that they are effectively prepared to write-off in any event. It could still have happened of course if other creditors had been able to put us under pressure or the Board considered that the transition to League One was unmanageable and, therefore, sought to take the points hit now rather than during next season. For that reason alone there should be grounds for some optimism and I am pleased that Richard Murray has again been proved as good as his word.

Slightly more surprising was the fact that none of our relegation co-horts with wider debt problems took the option either. Southampton, Watford and Norwich are the three with the biggest financial exposures, but Watford are effectively safe and they would have dropped right back into the mix with a ten points deduction; the Saints and the Canaries both have realistic hopes of avoiding the drop at this stage and Administration would have meant certain relegation. The fear for the latter two is that they might have decided to delay the inevitable in the hope of salvation and could face the calamitious prospect of relegation and a ten point deduction next season.

Interesting also to note the one big mover in the Championship on deadline day. Unbeleivably for me, millionaires/billionaires QPR decided to loan top scorer Dexter Blackstock to Nottingham Forest. QPR are going nowhere again this season and the goals have dried up for Blackstock but surely they aren't so short of funds that they loan their best forward out? If I were a Hoops-fan, I would be livid. It would be a straw-that-broke-the-camels back moment. Ambition, my arse.

Right, must get ready for City airport....the pipes are calling.

1 comment:

Anonymous said...

The loan system is a complete farce. It doesn't matter for Charlton now, but if Blackstock scores the goals that keep Forest up the club that gets relegated instead has the right to be furious.