HoracioCarbonara

The odds on Barnsley seemed too good to turn down based on relative home and away records so stuck 50 quid on them, you can all thank me at full time…

Zzzzzzzzzzzzzz

9 minutes ago, Grumpy Git said:

I had a ticket in my basket, but can't make it, so one available now in H3

If it was row A think I just got it, thanks for posting as I wouldn’t have kept refreshing

Partick Thistle

Orlando Pirates 

and a soft spot for Salford because i enjoyed the tv series and found myslef looking for their scores

i wish i had a reason to support a good team...

Glorious weather down here today, going to be a goodie!

1 hour ago, Unlucky Alf said:

Thanks for that Horacio

There appears to be a little confusion concerning TUPE, I myself was a Senior Union Official and am fully aware of TUPE.

I posted the link for those who appear confused or not know what actually TUPE is all about.

Please feel free to DM myself if you have any concerns concerning work issues...that is if you are at work.

Sleep tight and don't let the bed bugs bite.

Cool, I advise on transactions that often involve TUPE, I don’t pretend I can advise on the legal aspects of that as it’s not my area of expertise so I leave it to the professionals. Maybe you’re trying to make the same point, but ultimately the process is to ensure an employee is protected not the employer. A lot of people seem to be trying to spin it to suit their position. It looks as I was trying to single you out as the way I quoted meant it was just your message, I took more offence to the person you were responding to but my whole point is everyone is going round in circles when no one knows the specifics…

28 minutes ago, Unlucky Alf said:

This is TUPE...from ACAS

https://www.acas.org.uk/tupe#:~:text=TUPE regulations protect employees’ rights when they transfer,it%2C is transferred from one employer to another

If neither of you know anything about it, what are you actually doing? What a waste of time…

Can I just say most people here have zero idea about complex corporate transactions, to put it it in context and need to just calm down.

1. I recently advised on a £120m deal, it closed over 2 months ago, the deal has happened but I can’t raise my invoice because our AML checks are dragging, to reiterate the deal has happened and im still having issues!

2. if you are negotiating a deal more often than not you will agree exclusivity which means legally you cannot engage with any other parties, hence Q only started talking to other parties yesterday.

corporate deals are complex, most of the people commenting have zero idea and there is nothing you can say or do that will alter the process. Like most people here I’m fan and I understand the emotion but just chill, you can’t change anything and as much as you want to think everyone is messing this up, it’s a difficult deal and I’ve seen far worse, just less emotion because there were no fans involved.

36 minutes ago, atherstoneram said:

I can't see the administrators agreeing to that situation in all honesty,they are dealing with a championship club, not putting everything on hold to see where we are at the end of the season.

Unfortunately they will deal with what they are given…I deal with relatively simple transactions (just advised on a multi-hundreds of millions one) they’re not straight forward and they take time and every day throws up a new issue. They’re not buying a Mars Bar…

1 hour ago, i-Ram said:

Sorry buddy, you are a long way away from being correct.

MSD are a creditor of the club - DCFC borrowed the money not Mel or his Gellaw Companies. So it is DCFC’s problem. The way that the Stadium security has been set up is that if DCFC can’t pay all of the debt, anything left unpaid after Administration (or Liquidation if the worst came to the worst) is only then the responsibility of Mel/Gellaw to repay.

So if the Binnies are only wanting to buy the Club, and not the stadium, and they are only paying £28m, well them MSD are not going to be fully repaid from the work currently being undertaken by Quantuma. The only real security of any worth that MSD have over the football club assets is the fixed charges they have on the leases of the stadium and training ground, but I can’t imagine either of those are worth a great deal in value.

I can’t be bothered to do the math tonight regarding how £28m might be cut and sliced, but if we want the Club to continue to play football we know the monies need to repay football creditors 100%, and Quantuma’s fees need to be paid too.  So about £12m has gone already. £16m then has to keep MSD happy (in for about £23m probably at this time), and also HMRC (£27m) and unsecured creditors (say £28m). Interesting how that might be sliced, especially as anything less than 25% to each gives the EFL the opportunity to deduct further points from us.

Doesn't look attractive to me, and as I said above it won’t look attractive to MSD or Morris. And I am pretty certain it won’t look attractive to Quantuma either, and I can’t see it being a preferred bid unless it ends up as the only bid. Quantuma and MSD, and not so important myself, would want to see the preferred bidder doing a deal for the stadium simultaneously. It’s cleaner for all concerned, and gets rid of Morris out of the equation, and gives the Club owner total control over the stadium.

The only real merit of the bid is that a) it is a bid to be considered, and b) Binnie appears happy to take on Boro & Wycombe down the track. Other than that I am struggling, but let’s be honest beggars can’t be choosers in the chair we currently sit.

Errrrm not sure this correct MM set up a company to buy the stadium and paid x amount - money is therefore recieved by dcfc and stadium transfers to a MM owned company - DCFC then take a lease on stadium paying a rent to that company - That company then takes out a loan on the stadium from MSD not any DCFC related companies - that company then owes MSD interest but reiceves rent from DCFC. therefore if MM deafults on loan payments they take control of stadium but DCF just have a new landlord, not looked at any documentation so forgive me if im wrong...