Black & White Together's update with the administrators 10/01/2022
Following the questions BAWT sent to Quantuma last week, the Administrator called to update us on the situation. Here is the latest information we have...
There are no material changes in the situation since our last meeting. While the Administrators were hopeful of quicker progress and hence the use of the word imminently, this didn't happen for various reasons. That said, the Administrators are hopeful of naming a preferred bidder possibly this week. There are still two interested parties.
Discussions have been held with all bidders for the transfer of the ground under separate terms to the purchase of the club. The owner of the Ground, Mel Morris, and the Administrators are completely aligned in this respect.
Provisions are in place for short-term funding until a preferred bidder is named. Part of the negotiations with the proposed preferred bidders is their ability to assist in funding until the deal is finalized.
Discussions are being held with regard to contract extensions and permissions being sought from the EFL to do this.
While sales cannot be 100% ruled out in this window, the administrator's preference is that any sales will be handled by the preferred bidder in line with their plans for the club/squad and as part of the funding requirement as referred above.
Despite various stories in newspapers and on Twitter, there is no further progress with the claims of Middlesbrough and Wycombe, but these will not prevent a preferred bidder from being named. After that Carl hopes further discussions can take place with all parties and hopes an agreement can still be arrived at.