The Jonathan Jackson Column

Tuesday 02 July, 2002

D-Day Looms- Is Beni Onside?

The date for the Bradford City Holdings CVA to be agreed by (or god forbid rejected by) its creditors looms ever larger.

Within the next couple of days all us creditors should get a pack explaining the CVA in full and asking us to vote for it, with 75% of creditors by value needing to agree to get the club saved and out of administration.

Those who attended the open meeting at Valley Parade on 1 July will recall that Geoffrey Richmond was asked, and replied, that the players made up "give or take a percent" 25% of the creditors of the company.

With this in mind, I hope that GR and co have made plans to personally track down Benito Carbone and get his yes vote before the day of the CVA, because by my calculations Mr C alone makes up 9% of the total creditors.

Look at it simply:
Wage bill 2001/2002 = 7.5million

The release of Halle, Whalley, Sharpe & McCall reported to save 2million off that wage bill
Wage bill reduces to 5.5million

Beni is paid 2million p/a
2million/5.5 million = 36%
36% of 25% is 9% of the total creditors

Likewise on this basis, it doesn't then take a genius to suss that the total debts (including season ticket holders) of BCFC are...

22,200,000 give or take a few bob

So Mr R, I suggest that if you haven't worked this out the benefit of chartering a plane to Lake Como pronto is well worth the expenditure.

And whilst you are there, just make that the ink on his Como contract is dry.

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