bowtie
Years ago
The money to the creditors was not paid yesterday as agreed/signed. The Tomlinsons gained back control of the Blaze when they agreed to pay 73 cents per dollar to creditors (except Brendan Joyce) within 21 days but when they decided to remove their submission to NBL, they just walked away from that agreement.
The Blaze is officially in liquidation.
bowtie
Years ago
No. It happened at 9am this morning when there had been no overnight money transfer to the Administrator.
They had been in Voluntary Administration, then creditors voted them out of that in June in return for the pay outs due yesterday. Thats how they were able to negotiate with the NBL/BA who probably thought the deal with the creditors was all signed, sealed and paid.
Not much research done again?
Great to see the con artists fold. Shame they weren't man enough to pay J0yce as they should have done.
Tomlinson's clearly have no true sense about running a business either, and if they want to throw $12million away that's fine.
Someone should work out how much sponsor money, ticket revenue,contra and anything else that the Blaze would have simply frittered away.
Probably double at least what the Tomlinson' lost.
Nbl isnt going down the drain at all. Blaze didnt work out, and the NBL showed enough backbone to tell them to move on.
natwhereyouat
Years ago
Everything in the NBL is on the up, Blaze owners just mismanaged their team in a fickle market.. And lost big time.
The NBL allowed the dodgy Blaze in. Should never have happened.
bowtie
Years ago
How come all the club merchandise and memorabillia
can be donated to the GC basketball association and allow them to sell it all tomorrow and keep the profits?
Surely that belongs to the creditors?
Yet again another example of the didginess of the Blaze and the idiots that run it.
The Liquidator should possess all those items. Maybe someone with some basketball smarts should by the Blaze name. They might reincarnate yet again.
It's probably worth a $1.
How does one buy the blaze merch? Was keen to get a Deleon jersey.
Venom
Years ago
Where are all the BA/NBL haters over the Blaze now ? SMH
Let's get back to talking about the Adelaide Blaze I mean GC 36ers...(tongue in cheek, going to be a super tight season NBL13)
Bowtie
Years ago
Apparently the Blaze was to pay the GC Rollers' costs in the QBL. When they defaulted on that (like with everything else) Tomlinsons gave them all the merchandise to sell and cut their losses. The GCBB weren't even on the creditors' list. Even Parmenter came out on his Twitter to say they had no legal right to the profits of any assets sold from the Blaze. It's illegal to add a name to the creditors' list without the voting of all other creditors.
The Blaze subject is dead but a few embers keep flickering.
You need to be a registered user to post from this location. Register here.
Advertise on Hoops to a very focused, local and sports-keen audience. Email for rates and options.
An Australian basketball forum covering NBL, WNBL, ABL, Juniors plus NBA, WNBA, NZ, Europe, etc | Forum time is: 11:04 am, Fri 22 Nov 2024 | Posts: 968,026 | Last 7 days: 754
