EXCLUSIVE - Ridsdale and Creditors yesterday

PR met at least 10 creditors yesterday in a 2 hr meeting, done his usual spin.

if they take him to court now they will take the club under and get nothing.

if they wait til the summer and we get promoted he will pay each and everyone in full

a major question asked to PR have you or any other staff taken a pay cut ?

would not answer, due to that, 2 of the creditors incl a newport company owed over £700k will continue to take us to court but due to PR spin the 8 others have held off til the summer.

Did he say what would happen if we don't get promoted? On current odds only a 1 in 7 chance of them getting paid in full in the summer.

I hate to sound pessimistic but we won't get promoted this season. Even if we make the playoffs by avoiding injuries and suspensions, our squad isn't strong enough to compete against those in the playoffs.

Even if we get to the Premiership, how are we going to survive? All the money we get will be used to cover the debt and then we won't have enough to make a competitive squad. Argh, depression setting in!

LMFAO.

Any creditor relying upon the "oh, it'll be ok if we get promoted" spin quite frankly deserves to get stiffed as they sure as hell don't have any business sense.

Incredible. Proof indeed that Ridsdales entire financial strategy is based on "Shit or bust" approach. Spend spend spend because we'll either get promoted or sold to a sugar daddy. It's like me buying a ferrari on credit today on the basis that I might win the lottery next weekend.

It's absolutely inexcusable and his responses to legitimate questions beggar belief. Any other business and he would have been dismissed from the board instantly.

If we get promoted I cant see us buying any players at all, everything is on a promise of promotion. Council Land, Sam, Creditrors and no doubt transfer fees on player we bought have a fee upon promotion.

I hate to sound pessimistic but we won't get promoted this season. Even if we make the playoffs by avoiding injuries and suspensions, our squad isn't strong enough to compete against those in the playoffs.

Even if we get to the Premiership, how are we going to survive? All the money we get will be used to cover the debt and then we won't have enough to make a competitive squad. Argh, depression setting in!

I agree with most of your post apart from the bit about our squad not being able to cope with the play-offs.

I think the most difficult bit will be getting to the play-offs or even surviving as a club until then. Once we're there then I think, given a bit of luck with our injuries, we could beat anyone with our first 11.

There is a short break between the season and first play-offs (can't remember if it's 10 days or a fortnight ?) and that little bit of rest could be crucial in re-charging the batteries ready for just 3 more games over a 3 week period.

Don't forget, we would hope to have McPhail. Whitts, Hudson, Ledley and Etuhu in addition to last Saturday's squad and 4 of those should be fresh after having missed large parts of the season. All we need to do then is wrap Jay and Chops in cotton wool and then hope

I think we'll worry about strengthening for the Premiership if we get there. Surely we should be able to attract some investment as a newly promoted Premier club

You can understand why they walked away. It's like me asking someone to lend me some money and sayong I'll pay them back when I win the lottery. It's hardly a cast iron guarantee of being paid back

He's obviously not confident on Malaysia then.

PR met at least 10 creditors yesterday in a 2 hr meeting, done his usual spin.

if they take him to court now they will take the club under and get nothing.

if they wait til the summer and we get promoted he will pay each and everyone in full

a major question asked to PR have you or any other staff taken a pay cut ?

would not answer, due to that, 2 of the creditors incl a newport company owed over £700k will continue to take us to court but due to PR spin the 8 others have held off til the summer.

Its a fair enough proposition by the Riddler, should we go into administration the best that any creditor can hope for is 50% of the their debt and even that isn't likely! The truth is that they probably would get all their money if we did get promoted, so it might be worth them letting it go, as their aint much to gain, unless of course you are sick and tired of Ridsdales smoozing and don't support the team.

Don't forget, we would hope to have McPhail. Whitts, Hudson, Ledley and Etuhu in addition to last Saturday's squad and 4 of those should be fresh after having missed large parts of the season. All we need to do then is wrap Jay and Chops in cotton wool and then hope

I think we'll worry about strengthening for the Premiership if we get there. Surely we should be able to attract some investment as a newly promoted Premier club

Etuhu will probably have gone back - most loan deals are til the end or the normal season....

PR met at least 10 creditors yesterday in a 2 hr meeting, done his usual spin.

if they take him to court now they will take the club under and get nothing.

if they wait til the summer and we get promoted he will pay each and everyone in full

a major question asked to PR have you or any other staff taken a pay cut ?

would not answer, due to that, 2 of the creditors incl a newport company owed over £700k will continue to take us to court but due to PR spin the 8 others have held off til the summer.

Its a fair enough proposition by the Riddler, should we go into administration the best that any creditor can hope for is 50% of the their debt and even that isn't likely! The truth is that they probably would get all their money if we did get promoted, so it might be worth them letting it go, as their aint much to gain, unless of course you are sick and tired of Ridsdales smoozing and don't support the team.

Might be a fair enough proposition to you, but being told as a creditor "you'll get nothing if you go to court, oh, but we'll still draw our full wages, btw " doesn't tend to go down too well.

Ah, yes, the old "don't support the team" mantra.

Let's hope you don't work for one of the affected companies. With their cash flow being hit by this, they may well have to make redundancies to get through the problem created by CCFC. Not as funny when you consider the impact, eh?

Incredible. Proof indeed that Ridsdales entire financial strategy is based on "Shit or bust" approach. Spend spend spend because we'll either get promoted or sold to a sugar daddy. It's like me buying a ferrari on credit today on the basis that I might win the lottery next weekend.
It's absolutely inexcusable and his responses to legitimate questions beggar belief. Any other business and he would have been dismissed from the board instantly.

Any normal person would see that as madness. But that is exactly how Riddler has been running this club.

PR met at least 10 creditors yesterday in a 2 hr meeting, done his usual spin.

if they take him to court now they will take the club under and get nothing.

if they wait til the summer and we get promoted he will pay each and everyone in full

a major question asked to PR have you or any other staff taken a pay cut ?

would not answer, due to that, 2 of the creditors incl a newport company owed over £700k will continue to take us to court but due to PR spin the 8 others have held off til the summer.

difficult to believe that

If we get promoted I cant see us buying any players at all, everything is on a promise of promotion. Council Land, Sam, Creditrors and no doubt transfer fees on player we bought have a fee upon promotion.

Totally agree and you get a feeling the plan includes a second Premiership season to pay off everything we owe.

I hate to sound pessimistic but we won't get promoted this season. Even if we make the playoffs by avoiding injuries and suspensions, our squad isn't strong enough to compete against those in the playoffs.

Even if we get to the Premiership, how are we going to survive? All the money we get will be used to cover the debt and then we won't have enough to make a competitive squad. Argh, depression setting in!

If we get promoted I cant see us buying any players at all, everything is on a promise of promotion. Council Land, Sam, Creditrors and no doubt transfer fees on player we bought have a fee upon promotion.

and we will NOT be promoted...............but for THE HOLY SPIRIT

Never say never, Liecester did it while in administration although admitidly it was different rules then

He's the king of spin alright. I dunno why he don't go for a Job with Gordon Brown as his spin doctor. Labour would be guaranteed to get back in and then he would organise a coup of the cabinet and become prime minister
Labours New Manifesto would be

1. We will be open and transparent
2. Any expenses fiddling will be robustly denied
3. There will be no press conferences unless questions and backhanders have already been agreed
5 I will build a new stadium ermm I mean houses of Parliament cos (All bonuses to be agreed behind closed doors)
4. Membership ofTrade Unions and protests against my government will be made illegal and punishable by death
5. Taxes to be abolished cos I never pay the fuckers anyway.
6. Everybody can have everything for free cos I never pay for owt anyway

Can't think of anymore I am sure you all can

PR met at least 10 creditors yesterday in a 2 hr meeting, done his usual spin.

if they take him to court now they will take the club under and get nothing.

if they wait til the summer and we get promoted he will pay each and everyone in full

a major question asked to PR have you or any other staff taken a pay cut ?

would not answer, due to that, 2 of the creditors incl a newport company owed over £700k will continue to take us to court but due to PR spin the 8 others have held off til the summer.

I'm disputing the messenger, but that doesn't quite ring true. Noboby would take a business into administration in those circumstances. Even if these creditors took CCFC to court, the club could string things out for months, and in the end would probably have a court ruling to payi n instalments.

Al I can say is "Mr Shine" is telling a differant story .

PR met at least 10 creditors yesterday in a 2 hr meeting, done his usual spin.

if they take him to court now they will take the club under and get nothing.

if they wait til the summer and we get promoted he will pay each and everyone in full

a major question asked to PR have you or any other staff taken a pay cut ?

would not answer, due to that, 2 of the creditors incl a newport company owed over £700k will continue to take us to court but due to PR spin the 8 others have held off til the summer.

I'm disputing the messenger, but that doesn't quite ring true. Noboby would take a business into administration in those circumstances. Even if these creditors took CCFC to court, the club could string things out for months, and in the end would probably have a court ruling to payi n instalments.

Hmm, don't think it works quite like that.

AFAIK, creditors can petition the court for an administrator to be appointed. I'd say the way things have been recently, the chances of that being granted would be high.

The administrator then has a duty to keep the company running( thanks, keith for clarifiying ), plus maximising the return to creditors.

If Ridsdale is threatening "going under", he's intimating more of a liquidation, possibly a CVL?

Ridsdale is very child like in his ways, quite pathetic really. Didn't he say something similar to Langston/SH when they mentioned court action? What a way for someone to behave if they cant get their own way. And whats worse is that this is all his fault.

is this thread based on any actual facts or truth,first mention of creditors meeting is it not?

is this thread based on any actual facts or truth,first mention of creditors meeting is it not?

this happened

Not good business. Promotion no hope, fantasy dreams again.

Not good business. Promotion no hope, fantasy dreams again.

He is clueless. Running a business in the way he does should be illegal.

Not good business. Promotion no hope, fantasy dreams again.

He is clueless. Running a business in the way he does should be illegal.

Problem is PR does not see that he has done ANYTHING wrong

Not good business. Promotion no hope, fantasy dreams again.

He is clueless. Running a business in the way he does should be illegal.

Problem is PR does not see that he has done ANYTHING wrong

PR lives on fantasy island. Total tw*t.