The Scarlet Pimpernel

Maybe the price didn't go up but maybe the improvements required to infratructure became apparent. It is Preston after all. 

CK has apparently shown he has £60m in an account. Who says that's his only account? We still have no idea of his wealth. If he and the administrators and the EFL say he's got enough what's the worry? 

So much detail based on pure speculation. 

I'm pleased things seem to be making progress regarding buying the club but why oh why, after all the bad press we have had do we have to end up with this guy? 

I don't like his tweets, old or not, and I don't like his response when he failed with his bid previously. It won't stop me supporting the club as always but blimey, do we ever get a break!! 

2 hours ago, i-Ram said:

Bottom line is Mel wants MSD repaid - be that £20m or £22m or even a bit more - from this administration process.

Ashley, nor any other serious businessperson imo, is going to pay large bucks for the club without taking full stadium ownership. So if Morris sells to the Council I think Ashley and others will walk away from the table (not that Ashley is overly close to the table at the minute). No matter what all the twisting and turning of this thread, the problem is Morris. He should personally settle the debts with MSD, and agree to hand ‘our stadium’ back, foc, as part of the sale. The Administrators can then actually complete their job which is to get the best recovery possible for the creditors, and to make sure who they select through the process, has the wherewithal to run the club after it comes out of administration. In short, cough up and duck off Morris.

 

This is 100% correct. To a potential purchaser the club is worth next to nothing if the stadium is not included. If the stadium is included they have a substantial asset to offset against the massive losses they have to pay the creditors.

If the council buy the stadium and gain an asset how much is the club worth to an investor? Only minimal assets, goodwill, heritage & potential. Against that huge debts to settle. In other words, without the stadium how much is the club worth?

1 hour ago, Tyler Durden said:

If you remember the last bid from the Binnies included the stadium but was actually overall less than their previous bid....maybe the prospective buyers think that its an all in one package and the amount of cash their willing to offer SHOULD be inclusive of the stadium not as an extra.

So effectively they value the playing squad club name etc to the square root of bugger all

Exactly. Which means the council buying the ground doesn't mean the buyers will still stump up £30m to pay off creditors at 25% plus football creditors etc. 

Maybe £10m for the DCFC name and goodwill plus £20m for the stadium is where they are? 

I'm probably being dense but surely the stadium has more value in it (as long as we have a team) than the club itself? In other words why wouldn't a purchaser stump up £20m for a valuable asset? Clearing the debts against the value of the club assets is the difficulty surely. 

51 minutes ago, Carnero said:

My understanding was that the bid(s) of £30m were including the stadium.

So if £20m is allocated to the stadium/MSD then that only leaves £10m to all other creditors including HMRC which is obviously well short.

The bidders point of view will be that the £30m should be allocated to the creditors and that the stadium should be thrown in for nothing, with somebody else (MM) paying off the MSD debt.

The admin/MM point of view is that the price including the stadium needs to be £50m, the price without the stadium can be £30m, but the buyers only value the club at £30m if it comes WITH the stadium.

Bridging the gap between £30m and £50m is the issue. One side, or both will need to move to bridge this gap otherwise we're stuck.

Completely agree with this which is why a few days ago I suggested a deal will be struck at £40M once liquidation is imminent. 

33 minutes ago, PistoldPete said:

I don’t think the fans in general can raise £22m , although Didn’t Nixon say we only need another £5m. That really only takes a few wealthy people to club together . Or just one.. mr Mel Morris. 

Including the stadium it seems we need around £52m. It would appear offers are around £32m. Usually if there is a will on both sides a deal is struck somewhere in the middle. My guess is £40m will do it with Mel rightly taking most if not all of the hit. That deal won't be struck though until we have a date for liquidation. 

1 hour ago, GeneralRam said:

There is literally nothing for the buyers to buy other than the ground and place in league 1 with -15 points.

Depending on what the EFL allows the new owner to buy that could be league 2 a year later. 

There are hardly any squat assets to buy.

Does that sound like a £50million club to you for someone with no emotional attachment to DCFC?

 

 

I don't agree with this General Ram. If the club is sold the ground has a value, quite a high one. Also the DCFC brand and potential are worth quite a bit. I don't think £40m is far off. 

As owner of the stadium Mel has to be involved in the final transactions and agreements. If he was spotted at PP over the weekend that is good news to me. 

44 minutes ago, RipleyRich said:

its worth what someone is willing to pay for it.

Without a Football Club, it`s worth either nothing or the redevelopment value.

With a football club it has a value. It's a quality stadium and with a club a substantial asset. 

4 minutes ago, Woodley Ram said:

I know that was a bit tongue in cheek but the stadium is worth more than £20m, not £80m but at least £50m

I'm being serious actually. The stadium has been professionally valued at £80m. Mel will reportedly let it go for £20m. The club need a minimum of around £30m to pay off debts to avoid minus 15 points next season. If those figures are correct the new buyer is £30m up. 

The current thinking is that nobody will pay £30m for DCFC plus £20m for the stadium. Isn't the stadium a valued asset of £80m however? If so the purchaser is £30m up on the deal. 

2 minutes ago, Jayram said:

Of course, but realistically we are going to be 11 points behind Reading with 7 games to go if they win their game in hand and we are not winning games so there’s not much to be optimistic about tbh.

I know Jayram but we support to the end... Full stop! 

Things change. Good times and bad times.... I will always support Derby. 

We support this team to the end don't we? 

I would still support a phoenix club. In my view I don't support Derby County Ltd I support the team, the representatives of Derby my home town. I feel affinity with my fellow fans. Ownership is in my view only the means to field a team from Derby. I mean, for instance, if the whole current squad, management, stadium, training facility were taken on by a new company post liquidation why wouldn't it be Derby County? 

I think its not unreasonable now to ask the administrators what timetable we are working to. They cant/wont divulge any private information but the timescale is fair for the fans to know I would say. 

Regarding the value of DCFC. Its not just the assets, of which there are very few its the potential that is also sold. If any business is up for sale then yes, assets are important but its by no means the only consideration.

On 15/03/2022 at 14:02, Sparkle said:

What kind of coffee are chelsea football club drinking? - that has to be the most ridiculous request ever 

kind of funny that it is Middlesbrough as well 

Breath taking arrogance from them......Why am I not surprised!

How does FFP work in the Premier league? How much are they allowed to lose? How did Chelsea run up £1.5 billion from the Russian? 

12 minutes ago, David Baker said:

A terrible performance. What the bleep was Allsop up to, being caught out like that, and totally thick clearances to defenders who had little or no chance to clear the ball. Was he on dozy pills? And the lack of ambition, with all that passing back to the goalkeeper. One goal was not enough. 'Devastated, by the performance as much as the result.

It wasn't a terrible performance though was it. It was a very good first half followed by a shambolic 15 mins.

The team are playing under incredibly difficult circumstances. Absolutely no criticism from me. UTR

39 minutes ago, Crewton said:

Whilst awaiting further revelations from Nixon, I had a look back over the story of Portsmouth's two Administrations in a search for some reassurance that the EFL will not be unduly harsh with us come the end of the season if we are not yet out of Administration, or should we fail to agree a CVA with all creditors.

I noticed that, when it was announced that Portsmouth would be hit with another 10 point deduction at the start of season 2012/13, after their relegation from the Championship the preceding season, due to them being unable to satisfy the EFL over the recompense to creditors from their PREVIOUS CVA, the Administrator got rather ratty :

I'm sure Trevor wouldn't be a big fat massive hypocrite, would he?

https://www.dailyecho.co.uk/sport/9814818.portsmouth-to-begin-201213-season-on-10-points-in-league-one/

That really should be quoted back at him (Birch) at the appropriate time.