Spanish

12 minutes ago, angieram said:

It's clear that you have only started this thread so you can have more pops at Mel Morris.

Weren't there enough threads for you to do this in already?

I disagree with you once again.  You have your mind set on me, so be it.

5 minutes ago, Macintosh said:

The positives will be the hope he knows what he is doing, that it draws out a new owner before the year end, and plans he has in place like separating the ground and academy were wise moves. The negatives get bigger each day. If players like Bielik, Jozwiak and Lawrence walk away on 1 January for no fee, to get their wages off the books, then he's the pariah most paint him as.

It's not beyond the realm of possibility that he could be the new owner. We know he has the funds! It does happen.

Ask again in three months.

I hope it draws out a buyer before we appoint admin, then we can appeal for an extension to the intention filing meaning we can get to January with a new owner and no 12 point penalty

Just now, ketteringram said:

Is the minus 12 points thing likely to be announced officially this week sometime?

I assume that when an administrator is formally appointed then the penalty will apply immediately.  The liquidator then can/should appeal it based on covid causes.  Goes to IDC so I can predict this will roll on unless liquidation beats it to the finish line

1 minute ago, hintonsboots said:

I’m also in that camp. Until we all the information which should be revealed in due course it’s hard to know what the outcome will be. Many posters have already decided we will be liquidated, Mel has already been hung drawn and quartered without a trial. He is now being referred to as “Morris” which is the usual form when someone has been convicted. I would rather get behind the team and deal with any recriminations later if needed.

do you not think entering admin is evidence of a guilty verdict?

Just now, SamUltraRam said:

That's what I'm clinging onto.

Much has been said about what we owe to creditors but what about debtors ?

Are we still owed big money for the stadium. Are we still owed money for player sales eg Bogle & Lowe from last season ? Do we still get the Sky TV money ? etc,etc

I assume the administrators chase the debtors as well as work for the creditors ?

the debt is owed by a company that Mel owns, not him.  The company has 1 asset which we are told has a charge over it, not ifo the club.  Not a great scenario

3 hours ago, Mucker1884 said:

Despite the stresses, strains, and reputed ill-health, as of Sunday, Mel Morris was at least alive (if not well?), and getting himself out of the house.

A thumbs up from me... and long may that continue.

 

#perspective 

I hope he can make it to PP for the Reading game, maybe we could add his name to the list of supporters that our great forum members are generously funding for the game, hate him miss out now he doesn't have a seat and is brassic

41 minutes ago, Grumpy Git said:

Despite professional footballers generally not being the brightest lights in the chandelier, I don't think they're that thick?

I said it was remote

38 minutes ago, CornwallRam said:

Where are the club going to get £81m to buy back the ground?

I suspect we haven't been paid for it in full, time will tell

Just now, Spanish said:

no choice

club not attractive, not the only one out there

on a downward spiral

saddled with debt and disciplinary penalties

no assets

unless it is in your DNA youf I'm not sure why anybody would see us as a fantastic opportunity

I'll just add that Rooney and his mates remain for me the only remote way out of this

8 minutes ago, Dean (hick) Saunders said:

I am struggling a little to see why liquidation  is that likely.

Assuming that there are groups out there that would want to buy us then why would any of the creditors (and administrators) want to liquidate and get very little than take a bigger even if not great %age owed from the best available offer.

no choice

club not attractive, not the only one out there

on a downward spiral

saddled with debt and disciplinary penalties

no assets

unless it is in your DNA youf I'm not sure why anybody would see us as a fantastic opportunity

23 minutes ago, alexxxxx said:

I thought Stoke did something like write off their whole teams value?

I started a topic on this some time back

2 minutes ago, i-Ram said:

 

Nah wee billy doesn’t have the cash

If there are any members left can one of them put up some positives about the current situation to give some balance?

9 hours ago, Philmycock said:

Imagine Gibson's face if 4 or 5 clubs get docked with us and we survive! #bamford

He will be happy unless one of those clubs is his.  Can’t believe he would prefer us to be hit rather than 3 others.  It just takes 4 clubs out of competition with boro.  Can we change#bamford to #morris please

3 hours ago, Leeds Ram said:

In fairness to Rooney his staying despite everything and if it is true he is paying for away travel and accommodation says a lot about his desire to do the job in hand and loyalty to the club. It would have been easy for him to walk away after the administration and say 'enough is enough'. I'm not his biggest fan performance or results wise but all credit to him for this and he should be applauded for it. 

Trouble is I don’t want to be let down again, one of our own has abandoned us and we are pinning hopes on a new guy with no affiliation to us.  Long may it continue but I wouldn’t be disappointed in him if something better came along

7 minutes ago, RoyMac5 said:

How much do we reckon Mel owes the Club then? Do we send the bailiffs round to his gaff?

No idea, I guess that all post sale funding has been by way of loan repayment rather than equity but I may be wrong

27 minutes ago, Gee SCREAMER !! said:

He might have bought it with his pay off

I must be on ignore?

14 minutes ago, Charlotte Ram said:

There is only 1 director of 202 who is......Mel Morris..... the company has assets of £81,109,332 (presumably the stadium) but liabilities of £81,112,031 presumably loans owed to MSD and loans from Mel himself, I could only see a balance sheet there was no trading statement.

At least part of liabilities will be the money owed to the club for the purchase of PP I would have thought

4 hours ago, Ghost of Clough said:

12.4.1  the Club would be relegated in accordance with Regulation 10.1.2(b) or 7.7, the points deduction will apply in the next following Season (including in the National League if appropriate); or

So just checking this is now not a problem?

1 hour ago, JuanFloEvraTheCocu'sNesta said:

He might just really like Markeaton Park

He bought with the compensation thrown at him by Mel

19 minutes ago, maxjam said:

 

And Mel was moaning we couldn’t keep him

1 hour ago, jono said:

Hummmmm does this mean MSD end up owning the stadium and the training facilities. Detached from the Administrators hands. ? In this case I see  the Administration working something like this : 

Sell championship football club on its way to League one, price is hugely dependant on debt level buyer wants to take on.
 

The Admin work for the creditors remember, so it can’t be given away.
 

The buyers are going to need a stadium …. So the deal includes a sign up to buy, pay rent or lease those tangible assets ?

What are MSD going to want for that ? … Either 80 million to buy it as an entity, or so many million per year in rent / lease ? 

Meanwhile Admin keeps us running until Jan transfer window. We know costs are now much reduced, so they can probably afford wait till the Jan window when they sell the players of value to recover more for creditors. …. If we get to that point though, then I guess we are on rapidly sinking ground.

in the end the cost of use of the stadium is the key … 15000 season tickets and general sales amount to 10 million income PA. I suggest that 1/3 of that would be needed to rent an 80 million stadium ..  = 3 million a year .. it does sound proportionally a bit like your mortgage/rent ?  One thing for sure MSD need a return and a football club is the only thing that’s going to provide it at a reasonable level. 
 

I reckon there  are only  4 assets in the club

1) It’s name, brand and golden share 

2) The venue and facilities

3) Goodwill .. in football this is so huge because it’s the fans that you know will pay every week year on year .. it’s confirmed customers / income 

4) The Players .. but they are depreciating assets like lap tops and company cars 

 

Bit of a Jono ramble that one. Just simplifying for myself .. cut out the blurb and complex financial talk .. what are we ? what have we got that makes the machine work ? 

#2??? What is this

6 minutes ago, Ghost of Clough said:

12.4.1  the Club would be relegated in accordance with Regulation 10.1.2(b) or 7.7, the points deduction will apply in the next following Season (including in the National League if appropriate); or

Holy carp, this just gets better and better

11 minutes ago, observer said:

surely you could use the rent as  coverage on a mortgage

if it was interest only?

 

£50m @5% is £2.5m a year

 

could even have any profit made go into support the community trust or club

people soon forget mel isnt even derbys richest man let alone the many families that are fans and worth £££s Millions

 

 

well it would need free of any legal charges which it isn't and then you will have to find someone willing to lend the money where the rent is due from an entity in administration or at best has a recent history of financial problems.  Commercial loans are expected to have a capital repayment plan also as well as interest coverage unless you a financed by a pawn broker

Just now, observer said:

could a fans trust buy the stadium, thus resulting in us fans being a permanent stakeholder in the business and ultimately securing the future of a club???

 

theory yes, but practically no chance unless uncle Mel gives it away