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RAM1966 reacted to LeedsCityRam in The Administration Thread
Thats not correct. There are credible buyers who are interested - what they're not willing to do is stump up Quantuma's/Morris' inflated asking price for a club in an absolute state.
The only 'buyers' who previously agreed to Morris' asking price (Alonso & Bin Zayed) were the very opposite of credible. Whilst its a grim waiting game for us fans, I can understand why prospective buyers are digging in waiting to see if Morris drops his price for PP. No chance of this being resolved before June.
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RAM1966 reacted to S8TY in The Administration Thread
I will start by re-iterating that none of us no anything and is all pure speculation so here's my spin on things
I believe that there are 2 bidders one being a consortium including Morris himself the other Appleby
None of them are offering enough and Morris knows this being far too involved in the process because he owns the ground so any negotiations have to go through him as well as he holds valuable cards to any potential bidder.
MA meanwhile is sitting waiting with a bid which he wants to include the stadium but Morris wants his 22m
Morris knows his own consortium bid is too low to clear the bar so is basically holding fire waiting for MA to increase his bid where he will then sell he can walk away with club sold and his 20-22m back
I think this only gets sorted when Appleby finally pulls out and Morris bottles it at the last min dropping his price on the stadium where MA will swoop in to buy at the price he sees its worth
I do not see MA upping his offer until its the 11th hour and only if its at the price he values it at and must include the stadium if someone in the meantime...eg Appleby manages to get more funds from somewhere he may well buy it if Mel bends slightly with the price but until the 11th hour its stalemate
Make no bones about it i firmly believe Morris wants to recoup his money
Appleby is not quite strong enough to buy it
Ashley is playing waiting game as he can....he has the money to outbid everyone but he has priced the value of the club and I don't think he'll budge hence why there has been no contact with Q for 2 months
Q cannot name PB because no one has offered enough and I 100 per cent think no one will .....so Morris In my humble opinion is holding the keys to everything.
Best case Scenario - Morris at last min drops value to virtually nothing and then has to explain to HMRC about the value of the ground because he once valued it at 80m and would've had tax benefits based on that and the 22m it cost to buy it.....hence putting himself into a situation with HMRC
Worst case scenario is Appleby pulls out Ashley does not increase his bid or Morris does not let the stadium go and Morris either buys the club back himself with his consortium or lets it all go to liquidation
I still firmly think we will not be liquidated though but may end up led by a Morris led consort not through choice but because being liquidated will be worse for him than owning it himself
Of course this may well be utter nonsense but its just my own theory of what might be happening but either way we wont be liquidated
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RAM1966 reacted to TheresOnlyWanChope in The Administration Thread
Disappointed with the tone of Q statement with threats about fan demonstrations. Will it impact potential bidders? Doesn’t seem like there are any, Derby fans have been patient. Feels like fans have been let down by Morris, EFL, Quantuma, Gibson etc. Quantuma should not be making promises ‘imminently etc’ Morris has pretty much made the club unsellable. Good case that EFL should not have docked Derby the 9 points. Definitely seemed to have been a vendetta against Morris/ DCFC.
Feels like everything has come at the worst time- COVID HMRC bills, Morris has made mistake after mistake. Crazy really. Sounds very bleak
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RAM1966 reacted to ariotofmyown in The Administration Thread
Mel wants 20 million for the stadium? I wish he had been so picky with just Butterfield, Johnson, Anya and Blackman.
That's approaching 20 million in transfer fees and another 20 million in wages (30k per week x 3 years x 4 players). Thanks Mel you moron.
We should have been up in front of the EFL for that shambles.
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RAM1966 reacted to BramcoteRam84 in The Administration Thread
Well what have we learned today?
Q are in a very weak position and that statement shows they are rattled. They are not in control of this process.
The bidders are UK and US but doesn’t look like the UK is Mike Ashley hence they haven’t contacted him. Could the UK bid be Mel Morris? If not then a Gadsby Consortium? Who knows
We currently have no viable bids to retain the golden share. This is implied in the Q statement.
There is some serious negotiating that needs to be done if a solution is to be found and logic would suggest then stadium is the number 1 lever to unlock this.
I wonder what Q’s % confidence of avoiding liquidation will be now.
Personally- I still think we will be saved at the 11th hour as either something will be worked out between Mel and the current bidders, or Mel will be forced to hand over the stadium and Mike Ashley will swoop in at the death to buy the club for £25m-30m
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RAM1966 reacted to Chester40 in The Administration Thread
The story was inaccurate, he hasn't pulled out.
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RAM1966 reacted to sonofmidnight in The Administration Thread
I am extremely annoyed about the phrasing of that paragraph about the supporters. How about acknowledging how patient we have been up to now and how it has got us, the ones who really care about Derby County, absolutely nowhere. Are we supposed to just sit and smile and say take your time administrators, bidders and anyone else who is involved in the decision making whilst our club goes swirling down the pan. Fans are desperate, passions are running high. What do they expect. People can only take so much and everyone has a breaking point. It is not the fans fault. The administrators are the ones who need to sort this mess out. They are getting well paid for it.
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RAM1966 reacted to RoyMac5 in The Administration Thread
How *very* generous of Morris to allow the stadium to be sold at a price that will pay off his debt! Think how much he's saved by not keeping paying for the Club until a buyer was found!
No-one asked you to spend more than you wanted to lose Morris!
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RAM1966 reacted to 1967RAMS in The Administration Thread
Unfortunately Derby without pride park would be a non starter with potential investor I suspect. People banging on about renting Burton are delusional imho. If we survive and drop into league 1. I suspect we would have around 23 K per match even on -15 and even higher if we do well at PP. With the potential to average much higher with success in following years. If we lose PP we will be on @5-7 K at Burton with no potential for growth thus a massive drop in attendance fees and sponsorship. I am increasingly worried that MM has to make money on PP. No idea if it’s a problem with personal wealth or the worry of a potential fraud investigation by HMRC. My business is minute in comparison but I know if I buy an asset for 80 million ( even though I have stated all along that was a massively over valued price) I would have offset tax against the purchase and interest on the loan. If I then give it away for peanuts or even nothing, the taxman will want to investigate. Especially at a time when commercial and domestic properties are increasing by 14% per annum currently. I can’t see an happy ending, especially if it is true Q have had no contact with MA for 2 months. IF that’s true, they are at best inept and at worst a bunch of carpetbaggers
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RAM1966 reacted to Eatonram in The Administration Thread
why buy that brownfield site with all the demolition costs when you could buy another cleared site
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RAM1966 reacted to eccles the ram in The Administration Thread
Mel Morris - For the love of God man! This Friday do the RIGHT thing and give us back our THEATRE OF DREAMS! You are breaking the hearts of 1000s of us! DO THE RIGHT THING!! UTR
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RAM1966 reacted to MackworthRamIsGod in The Administration Thread
If Derby County was a drawing man, Mel Morris is a life guard holding the life ring and a foot placed on the man's head.
In sorting the Boro issue out, the least he should do, he eased his foot off the man's head. The crowds of people clapped as this hero goes one step closer to saving the mans life.
Now all he needs to do is throw the life ring and stop the man from drowning.
But then again, why should he, weren't his fault he fell in was it ?
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RAM1966 reacted to TuffLuff in The Administration Thread
As time goes on, the decision to put us in administration appears to have been a ‘nuclear option’. He needed someone else aside to strategise the next few years and how it would look. It may have been a bigger hit short term as we asset stripped (possibly losing Rooney would be the biggest one), but we’d have a club, a stadium and as you say a solvent business to sell.
There’s been no foreshadowing for if something goes wrong, whether that’s the EFL, Boro or anything else. Like there was no foreshadowing for ‘getting to the premier league’ or the realities of using academy players. That’s just poor business strategy.
As many, like Knighton and members of the council have said over time, if Mel doesn’t play ball then he has a lot more to lose than money…so he needs to play ball here!
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RAM1966 reacted to vonwright in The Administration Thread
Agree, and it also perhaps shows why he found it so hard to get a buyer before we went into administration. If he's honestly suggesting that the reason bidders aren't prepared to stump up £20million for the stadium is that they are "playing hardball" - and if he honestly thinks he just needs to wait for them to crack - then he's being completely unrealistic.
I understand he doesn't want to settle the loan himself - who knows how easy it would be for him to absorb a £20million loss - but let's not pretend this is a clever negotiating tactic, or in any way in the interests of the club.
Feels like a version of the sunk costs fallacy: he just can't believe now, and couldn't when he tried to sell before, that the club he's driven into the ground (at great personal cost) could be worth so little. But it is.
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RAM1966 reacted to Bald Eagle's Barmy Army in The Administration Thread
Makes you wonder how Mel made the money he has
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RAM1966 reacted to TheresOnlyWanChope in The Administration Thread
Buyers probably would only take DCFC with Pride Park.
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RAM1966 reacted to Gaspode in Mel Or Bust?
The idea that this is some form of pre-planned conspiracy to let Morris have the club back after clearing the majority of the debts is farcical. There are two key issues with the theory:
Q would never get any sort of Admin work again if they were party to such underhand dealings the other bidders (including Mike 'Litigation' Ashley) have spend a considerable amount of time and money on their bids - if there was even a wiff that it hadn't been a fair and proper process, there would be lawsuits flying all over the place The only way Morris can have any involvement with the future of the club is as the landlord of the ground (in which case the bids will be tens of millions below the creditor's asking price) or else as a last-chance PB because everyone else has already dropped out of the process and the altternative is liquidation.....
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RAM1966 reacted to TheSlate in The Administration Thread
He blocked me for saying something similar.
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RAM1966 reacted to Oldben in The Administration Thread
https://footballleagueworld.co.uk/concerning-fresh-reports-on-derby-county-takeover-situation-and-future-points-deduction-emerge/
Nixon claims that none of the bids made reach the numbers needed financially and that finding a buyer is proving harder than ever.
Additionally, Nixon has reported that the chances of avoiding an EFL points deduction for next season now look slim.
As per The Telegraph’s John Percy, a points deduction may be applied if the bids don’t meet EFL insolvency regulations.
Beyond Words
Derby County’s administrators Quantuma have not picked a preferred bidder to take to the EFL for approval as it was previously suggested they would over the weekend, according to journalist Alan Nixon.
On Friday, Quantuma outlined the process they expected to follow in order to publicly name a preferred bidder.
In a statement, they revealed that final bids had to be in by close of business on Friday and would then be assessed over the weekend.
A decision would then be made over the preferred bidder and they would seek EFL approval in discussions early this week before publicly naming them.
According to Nixon, however, the administrators have not yet picked a preferred bidder as they claimed they would.
He claims that none of the bids made reach the numbers needed financially and that finding a buyer is proving harder than ever.
Additionally, Nixon has reported that the chances of avoiding an EFL points deduction for next season now look slim.
As per The Telegraph’s John Percy, a points deduction may be applied if the bids don’t meet EFL insolvency regulations.
The Verdict
This is a very concerning update on the Derby situation.
The new timelines outlined by the administrators on Friday looked to offer fresh hope that concrete progress would soon be made toward a takeover deal and the arrival of a new owner.
However, it seems Quantuma are facing continued problems and may once again not be able to stick to the timeline they revealed just a few days ago.
Supporters have become cautious when it comes to any of the timelines or claims made by the administrators and Nixon’s reports highlight just why.
It’s going to be interesting to see how the rest of the week pans out and whether a preferred bidder is indeed selected and named.
My question: How hard is it to go to the creditors and say this is what a potential buyer is willing to pay, so you can have X amount. That's not enough, ok well then you get almost nothing because the club goes into liquidation.
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RAM1966 reacted to Curtains in The Administration Thread
This wound him up
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Alan Nixon
@reluctantnicko
·
14h
And you can do one
Quote Tweet
Matt Shillcock
@matty_shilly
· 14h
Replying to @reluctantnicko
So are you saying they haven’t spoken to EFL yet and you know this because you get your info from the EFL?
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RAM1966 reacted to CBRammette in The Administration Thread
Yep its quite funny - you can tell he is sick to the back teeth of people asking as he cant tell them anything! Then these articles rehash what he is guessing. One thing seems obvious though - Admins dont trust EFL and want to delay telling them anything as late as possible. Strange that