RipleyRich

Apologies if this has previously been shared. This thread is moving so fast now, it`s hard to keep up!

And, Sky Sports reporter Rob Dorsett has given an update on that, as he shared the latest on all of those in the frame.

“Kirchner still adamant he wants to buy, money in European clearing bank, and he’s staying in UK to complete deal. Steve Morgan no longer interested, Andy Appleby trying to refinance a renewed bid, and Ashley feels he’s being frozen out, but has the cash to buy.

“I’m told 2 other unnamed parties also want to buy club. Price for #dcfc now risen to over £30m because of interest payments, plus £22m for stadium. £50m+ would buy most Championship clubs, but Derby in Lg 1 still v attractive because of fan base and commercial potential.”

9 hours ago, Mihangel said:

Nah, Mike Ashley, if you're reading this, we don't want you....

Obv he won't be, but I'd rather we go defunct and start again than have that CJTC own us.

Ludicrous statement IMO.

You would rather the Club cease to exist, than a man with a proven business success history, including that of an English Football Club, take over?

1 minute ago, TexasRam said:

That’s stupid, why can he duck off? He’s putting a rocket under the Admins and MM and about time 

The big question is why won't they engage with him?

I could only guess that any proposal he has made or proffered, does not either form the best deal for creditors (which is Quantuma's prime responsibility) and/or will not comply with EFL rules.

Other than that I can't see any justified or legal reasons for not engaging.

1 minute ago, nottingram said:

Oh god I should really know better than to engage you in something like this by now, but anyway.

I think these are not easy times for any Derby fan, and I think the hysteria being whipped up around it makes things even harder. It is not news that Quantuma were not willing to engage with Ashley when another bidder had exclusivity, and so Dorsett tweeting the same thing in about 50 different ways since Wednesday has only made things more panicked.

We can debate until the cows come home about whether or not Kirchner was the right bid, at this point it would appear clearly not. There are many grievances to be had about Quantuma but we can only assume they went with what they felt was the correct bid based on the info they had. He had evidently passed whatever tests he needed to pass.

But I don’t think any (and I include pro-Kirchner Nixon in that) journalists have helped things over the last week. And it is obvious who is pulling Dorsett and Dawes’ strings.

Can't lose sight of the fact that Quantuma's first responsibility is to secure the best deal for the creditors.

1 minute ago, Caerphilly Ram said:

Which could help speed up a resolution, let’s just hope it’s to the best party for the club’s future, whoever that is ??‍♂️ 

Anyone who can put up the cash IS the clubs future 

4 minutes ago, RoyMac5 said:

More!

Who's leaked that?

I smell a solicitors letter coming on!

2 minutes ago, EnigmaRam said:

Not necessarily true. It depends on whether they go with what’s already been agreed or want to change everything. 
If they pay the same, have the same agreements over costs etc then all they need to do is change the names in the document’s, so the fit and proper persons test and transfer the money. Could be done in a couple days. 
On the other hand, if they restructure everything and change cost payments, purchase price etc then it could be weeks to seek agreement. 
That there’s no PB anymore means it’s a straight race. Get the money in the bank and it’s all yours. The fact CKs money is just in holding means any other potential bidder knows they can’t mess about changing the whole structure or they will almost certainly lose out, so I expect it to be done quickly. 
All just my personal opinion of course. 

I'd be surprised if a race happens. Theres potentially a lot of money in fees to lose only to be pipped at the post. So I would guess at one bidder. If MA won't pay Q, he wont want to risk losing fees on a failed bid.

But then there the risk that CKs money might come through.....?

(The last bit is tongue in cheek BTW)

1 minute ago, Curtains said:

Another point.

Has MM sold the Stadium or was there provisos that the sale would only go through if certain conditions ie buyers were met.

I really am not sure the Stadium is sold yet and I suspect Mel still owns it if the club sale is still in abeyance 

I can't see anyone putting up £20m for a Football Stadium with no guarantee of a tenant.

12 minutes ago, Curtains said:

I think this is right I’d say at least 6 weeks for a new deal to go through  if CK loses out .

Someone said we could start the season in administration which I would think is a likely scenario 

The Club can start the season in Administration under EFL rules. However to get to that point, funding needs to be in place, or at least a funding stream proven, and a squad of players. 

2 minutes ago, Ramos said:

I would suspect just cause it says written to - it doesn’t mean that’s all that’s happened. I assume there has to be a paper trail with these things so the official line to JP is we have now written to them. I think the fact journalists like Percy are starting to provide opinions on Q like (they should never be in football again) is probably finally the kind of pressure that may make them realise their game is up and they need to get this done for real. 

Probably written to them advising what they need to come up with to proceed and for an indication of if they are prepared to negotiate at that level?

No time to beat around the bush now.

53 minutes ago, tomsdubs said:

Already been said they won't be selecting a PB again it'll be whoever turns up first with the right amount of cash.

Preferred bidder or not, a purchase will have to go through a similar process to CK I would assume.

Bid acceptable to Q, access granted to full accounts, bid confirmation, proposal to creditors, proposal to EFL, Fit & Proper Persons Test, Contracts drawn and exchanged, funds transferred etc.

Previously quoted as taking 6 to 12 weeks I believe?

Alongside that, the Stadium has to be sorted in whatever guise that will be with the bidder/s.

Time is critical now, and satisfying EFL re funding for the season is the most urgent issue to resolve as I see it.

52 minutes ago, PistoldPete said:

But it's the EFL saying we cannot sell season tickets. So how are we supposed to show we can trade through the year without any season ticket money? 

I have no idea, but I guess there are more sound reasons than a vindictive vendetta.

The bottom line is that the club urgently needs a cash injection to allow continued EFL membership. That then buys time for another takeover bid.

I just can't see another takeover bid being completed in time to avoid the requirement for proof of funds.

My head hurts trying to second guess what's going to happen next and what's the solution.

God only knows how you lot with deeper emotional involvement than I have feel.

I'm hurting for you all ❤

2 hours ago, Sparkle said:

No one with a logical thought process is going to pay up front for a season ticket for a football season of a club in administration and not one being messed about as badly as we have - well I wouldn’t anyway, buy a match ticket yes but no way a season ticket currently 

I totally get that.

5 hours ago, sage said:

The s*** show of this week and the fit and proper person test don't overlap. 

He had the money

He wasn't a crook

He had no bankruptcies or liquidations 

He hadn't misrun a football club before 

 

That's all you can expect them to check. 

 

To put it in perspective, the EFL confirmed some time ago that MM would still pass the Fit & Proper Person test.

7 hours ago, PistoldPete said:

Can any club prove funding for a whole season?. All clubs are making losses, so if their owner pulls the plug they too will be out of money during the season. So if EFL withdraw membership from Derby for no other reaosn than they cannot prove something that no other club can prove either, then the EFL will only be proving what we know already , that they have a vendetta against Derby.  

It will have to be based upon a sound business plan, which would include confirmed income eg Season Ticket Sales, Cash at Bank, Secured Loans etc.

I guess all clubs will follow a similar budget plan just like any business.

37 minutes ago, StarterForTen said:

No one. Relegations and promotions were all confirmed at the EFL AGM this week. If ANY club fails from now on it would just mean a reduced league - like when Bury went through. 

Slightly less worried if that's the case. I guess even fixture lists can be issued.

So the most urgent issue is proving funding I guess?

31 minutes ago, Crewton said:

Nonsense. Everyone who has been relegated will stay relegated. 

So who would take the additional place in L1 then

1 hour ago, PistoldPete said:

The club does not have to prove anything to the EFL. If there are buyers interested then the adminsitrators will simply move on to the next bidder.   

I beg to differ.

Pretty much the same scenario as the end of March deadline.

The EFL will reach a point where if the Club is unable to prove it can start and complete the season, it can withdraw membership.

That's my biggest concern now as time is running out.

6 minutes ago, RoyMac5 said:

https://uk.sports.yahoo.com/news/derby-county-race-against-time-173127634.html

Percy Telegraph article (free)

 

There is the consideration to other clubs now for the EFL. Clubs will have set budgets and released players based upon relegation which could be overturned in the event of Derby not being able to prove their ability to start and complete the season.

The EFL are right now my biggest concern 

2 minutes ago, Macintosh said:

You've got the money, it's stuck in cyberspace, or going through checks and you know for certain it is legit, why not go to MSD Holdings and say can I have a £21m loan for a week, and here's my plane as collateral? It would probably have lost him £200,000, but saves the deal, our club and his reputation?

There are huge rumours about him having other financial problems.

Stories doing the rounds that his financial backer pulled out last week.

1 minute ago, PistoldPete said:

No I think everything was due to complete pretty much simultaneously, but CK has not paid up for the club. 

No chance anyone is going to complete on the Stadium before the sale of the club completes. 

3 minutes ago, IslandExile said:

Conflicting media reports.....take your pick:

Nixon/Sun:  Was going to be CK, now switched to Morgan or Appleby

Dorsett/Sky:  No one else in the running

Dawes/Radio Derby:  Ashley

No one seems to be saying Clowes but I would think that's another possibility.

I don't give a flying **** who's in or out tbh. My concern is the EFL and how long they will wait for any of them.

We are potentially back to the end of March scenario now.

8 minutes ago, Charlotte Ram said:

MM was not in the Sunday Times rich list 2 weeks ago so I believe his personal net worth has shrunk considerably

Hes lost £80m on a Football Stadium as things stand.

1 minute ago, Chopper said:

Agree, it'll be a "nothing is agreed until everything is agreed" sort of thing.

Unless.......

MA has bought it to force CK out ?

10 minutes ago, rsmini said:

Radio Derby have been saying all week that the ground is no longer a problem as its changed hands 

I'm not sure I believe that.

Yes a deal might be in place, but nobody in their right mind would complete without the sale of the club being completed. Without the sale of the club it's a £22m car park!

And surely until the club is sold it still has a loan secured against it?