Half Fan Half Biscuit

3 minutes ago, Sean said:

Both Chris and Ed have been asking all the right questions recently, kudos to them both

Though they need to take lessons from Gary Richardson on how to do follow up questions. 

10 hours ago, Heisenberg said:

 

Would someone from the Telegraph or Radio Derby have the guts to ask him

”Do you want Derby County to cease to exist as a football club in the Football League?”

33 minutes ago, Van der MoodHoover said:

It'll be interesting to see if they go after Mel for outstanding stadium payments..... ?

If Mel’s had any sense he’ll have loaned the money he’s been putting in over the past year to Gellaw 202, then shovelled that across to DCFC to reduce the amount owed for the stadium. 

So administrators appointed and the Dell charge crystallises on all the assets of the various group companies including bank accounts.

Where are administrators going to get £1.5m or however much it is to pay wages between now and next Thursday?

14 minutes ago, The Scarlet Pimpernel said:

So, G Star... What might this mean in cash terms for the club? 

Goodness only knows.

In  both their 2019 and 2020 accounts the amounts owed to group companies in Gellaw 202 match exactly the amounts owed by group companies in Gellaw 204.

How that relates to DCFC I am struggling to see without that company's accounts.

Going to give up now before I become as obsessed with DCFC accounts as Mr Pop!

10 minutes ago, Dean (hick) Saunders said:

All this talk of building a new ground is pretty depressing (to add to all the other depressing DCFC chat).

Can someone post some genuine glimmer of hope type thing please (not the sun is shining and I’m not dead yet type thing either).

Sorry but . . .

Abandon ye all hope who enter here. 
 

is the way I’m feeling at the moment. 

3 minutes ago, rammieib said:

Surely any potential new owner, if there actually is any serious ones out there, won't want to buy a team who sells its assets in January. If £60m is needed to clear the debts, you'd also suspect any new owner would want the ground to come with it. Would Mel be allowed to sell the ground for £1 or actually, would that create a problem given its asset value in the books? I highly suspect that it would cause issues if the ground was only purchased for a £1 - so we now have another issue here....

So does a new owner not only need to clear the £60M of debt (I have no idea if this is how much it is) but if they want the ground they need to pay a fair market value for it - which unsurprisingly is around £80m. I thought Mel had actually transferred the money into the club for this but I guess we will see this in the debtors value if we ever see a new set of accounts published.

So a new owner COULD be looking at a £140m bill if they want the ownership of the ground and at least a minus 12 points deduction.

Yeah - we look really attractive...

I’m 99.99% sure Mel hasn’t put £80m cash in to buy the stadium. 
 

Also the stadium is now only worth what a willing buyer is prepared to pay. 
 

Yes it might have been valued at £80m but I surely no one would be prepared to pay even half of that for it now?

He bought the most expensive season ticket ever. 

As a taxpayer I think it’s piss-poor of HMRC to allow one football club to run up £26m of unpaid tax on its own. 
 

They’ve consistently been taken for a ride by football clubs over the years and ought to recognise the signs by now. 

1 minute ago, Ghost of Clough said:

Pulling the plug from Gellaw 203 and subsidiaries. 204 and 202 haven't filed for admin, so all evidence points towards them still being fully funded by Mel when money is due to pay for the stadium

With so many companies floating around can I ask

Which company is receiving the rent for the stadium?

15 hours ago, Spanish said:

Based on out of date accounts, I think it maybe a lot less with the subsequent money injected by Mel recognised as loan repayments, we will see 

?

202’s last filed accounts were June 2020 so not that out of date. 

In fact 202 is one of the few companies which is up to date with its accounts filing. 

23 minutes ago, kevinhectoring said:

pretty sure the stadium is pledged to MSD, as is the club and the academy. So MM would need to pay off MSD before he can do anything with the stadium.  I doubt the stadium company needs to go into administration yet, because it does not trade and it barely has any creditors so does not need protection from them. 

Thought it owed £73m to DCFC which no doubt the administrator of DCFC would be keen to collect?

We are talking about Gellaw 202 here aren’t we?

4 minutes ago, I know nuffin said:

Silly question. If we are in administration isn't it down to the administrators to pay the wages, even if it means using their own money until they can get what was the club's money in. 

It's a question not a statement. Does anybody know

Er - No!

There is no way any administrator will put themselves in a position of having to pay anything with their own money. 

42 minutes ago, kash_a_ram_a_ding_dong said:

Dawes had nothing to lose from not asking those questions once he is in there,live on air.

Mel's not in a position to freeze any journalists out anymore.

I'm one of the few who hadn't got a major issue with Dawes and I expect he will ask the relevant questions.

Surely more likely to be a pre-record?

1 minute ago, Tombo said:

Mel to leave immediately

Mel won't have anything say in the running of the club once administrators are appointed so you will have your wish.

Just now, thelovebelow said:

Is keogh a creditor? 

A football creditor so he'll be alright.

Who wants to be part of the consortium to buy the club out of administration?

7 minutes ago, Tyler Durden said:

If you boil that statement down you could summarise it as we take no responsibility whatsoever.....shocking 

A little bit of humility wouldn't go amiss in a time when people are going to lose jobs and be shafted out of money they are owed. 

6 minutes ago, Dava75 said:

Wow - so MM takes no responsibility for it and blames the EFL (and a subtle pop at a someone there) and blames COVID-19. Sad times - a bit more humility by the owners would have gone down well. I get the scenarios laid out and don’t disagree - but surely they could have admitted to making some mistakes along the way which have served to exacerbate our situation!! 

Unfortunately these statements have to be very carefully worded - with no admission of liability by the directors.

A bit like if you have a car crash - your insurance company tells you to admit nothing.

19 minutes ago, samwcave said:

I see. But what happens to the club? Do we completely collapse eventually, or do we remain a club just with no owner and no money? 

Hard to say, but either a) a deal has already been done to sell the club, or b) the administrators will run the club with a view (hopefully) to finding a buyer. 

The directors will have no say in the running of the business as this power goes to the administrators.

Just seen club statement - was hoping for a) but we've actually got b).

2 minutes ago, samwcave said:

Apologies this might sound stupid, but can someone explain what exactly is going to happen IF we go into administration? I know it is bad, but specifically, what could happen? 

Lots of people who are owed money by the club will lose money.

The administrators will make lots of money.

12 minutes ago, Heisenberg said:

 

Notice of intention to appoint administrators:- Company files a document to the court that it intends to go into administration if a solution cannot be found to its immediate financial problems.

Can be used as part of the pre-pack administration process (where a deal is arranged to sell its assets to a buyer, before appointing administrators to facilitate the sale).

If we haven’t breached FFP, we should be arguing for a points addition after all the poo the EFL have heaped on us. 

I'm sure you'll all be ecstatic to know that Barclays Bank no longer has a charge on the Club's assets per Companies House filing today.

Get rid of that 0871 phone number 

19 minutes ago, 24Charlie said:

It’s the whole point. The fact that it’s wrong winds them up more. It’s hard for them to counter that chant as they have to somehow explain that it’s the Black Country not Birmingham, by which time you’ve fallen asleep. It’s a bit like calling For*st, Notts For*st on purpose as we do.

Notts Forest is an anagram of Snot Fest Rot