ai says this so, we're off to Hillsborough tomorrow
When a football club enters administration, the previous owner loses all control over the club and its finances
. All power is passed to an independent administrator, whose role is to manage the club in the interests of its creditors.
Here is a breakdown of the owner's influence and access to funds during and after administration:
No influence or access to funds
Loss of control: The administrator takes over all decision-making authority, and the former owner has no legal power to influence the club's operations, personnel, or strategic direction.
No access to funds: The previous owner is explicitly blocked from accessing any of the club's funds. All financial matters, including the handling of central league payments (such as broadcasting and sponsorship rights), are controlled by the administrator.
Owner-provided loans are at risk: If the former owner loaned money to the club, that debt is generally treated like that of any other unsecured creditor. This means it is highly unlikely to be repaid in full, as shareholders are last in line for any remaining funds after other debts have been settled.
That'll do for me!