The appalling state of passing the begging bowl around so far into the preferred bidders takeover period again beggers belief. Someone please tell me exactly what exclusivity means regarding the present financial needs of PAFC, the question that gets asked is what is the money used for,where has it gone ? The preferred bidder has supposed to have payed one million pounds in instalments, I assume to the Administrators. Other bidders didn't seem to get that option of instalments I wonder why ? Does PAFC get any of that money for the day to day running of the club or does the Administrators get it all to do their required work ? If PAFC do not get any of it, how do they survive on a day to day basis, do they have to sell off some of the crown jewels each week (the players that is ) to pay the weekly bills. If that is the case then should there not be more urgency in getting the administration process completed. With the league having I assume their annual (jolly) meeting in Cyprus, as you do, and Guilfoyle and I assume Ridsdale being present to complete the trans-actions required to bring PAFC through administration, the spending of money on jaunts to such places obviously doesn't leave anything in the kitty to pay the staff in full. I can only guess that the Seychelles was fully booked up and the league had to put up with second best (sorry my sarcasm rising to the surface again,I must keep taking the tablets),. just as long as they sent a picture postcard to Home Park. I've just thought they could have tried Dubai,we have connection there.
It merely means the administrator is negotiating with one preferred bidder instead of several potential bidders and that preferred bidder is probably geting more access to information - and crucially people - than would have been permitted before. No deal has been done yet. The club continues to receive its income and is responsible for managing & paying its costs, but that process is under the control of the administrator, not the outgoing management. I presume that includes money being injected by the preferred bidder to fund the club through the exclusivity period. I think figures have been bandied about for the amount injected but I haven't seen any comment about how it's being injected. Does it for example become repayable as debt if the transaction is completed? Guilfoyle made it clear the preferred bidder would have to provide funds during the period to completion but whether the detail was agreed before a preferred bidder was selected or after, we don't know, or I don't anyway. One of the bugbears with administrators is that their fees are very high and come straight off the top of whatever money there is in the administration. In that context, a trip to Cyprus for what I assume is a bona fide necessity for PAFC is chickenfeed.
