Gringo

They are not I put their numbers up in a thread but it was removed,
They lost £31million y/e June 2020, profit of £1.8 million June 2019,  loss of £6.6 million June 2018 so 3 year period £35.8 million loss be interesting to see what happens this year, I think he is doing the classic don't look at this look at that over there

They are not I put their numbers up in a thread but it was removed,
They lost £31million y/e June 2020, profit of £1.8 million June 2019,  loss of £6.6 million June 2018 so 3 year period £35.8 million loss be interesting to see what happens this year, I think he is doing the classic don't look at this look at that over there

it will be "Hobsons choice" for the creditors after the administrators have finished and made their recommendations qs to the distribution of funds raised. The only people I guarantee will get all of their cash back will be MSD they will get 100% because they have the charge over all the assets, the HMRC do not.

Wo will he sue?
The EFL?
DCFC in administration?
Mel Morris personally?
Gibson is just mouthing off nothing to see here
 

it will be "Hobsons choice" for the creditors after the administrators have finished and made their recommendations qs to the distribution of funds raised. The only people I guarantee will get all of their cash back will be MSD they will get 100% because they have the charge over all the assets, the HMRC do not.

Only in as much as the club will be sold to the highest bidder, that will be the only scrutinisation, please do not think administrators are nice people. they are not, they are scum, as I have stated previously they are jackals.

it will be "Hobsons choice" for the creditors after the administrators have finished and made their recommendations qs to the distribution of funds raised. The only people I guarantee will get all of their cash back will be MSD they will get 100% because they have the charge over all the assets, the HMRC do not.

Wo will he sue?
The EFL?
DCFC in administration?
Mel Morris personally?
Gibson is just mouthing off nothing to see here
 

Wo will he sue?
The EFL?
DCFC in administration?
Mel Morris personally?
Gibson is just mouthing off nothing to see here
 

MSD as a major creditor appointed the Administrator, their sole aim to get their money back, my belief is that they could not wait any longer as because of all the press coverage HMRC had or were going to issue a winding up order which would have compromised the MSD position. The administrator will still want to sell the club as a going concern and as such will sell assets (players) only as and when they need to keep the club fulfilling fixtures. The big unknown is how much cash there is in the bank accounts and did Mel Morris leave enough for the next 2 month wages, my considered view is that Quantum will be on an earner to sell the club asap 

Deep joy the Administrator is an avid Liverpool fan.

Deep joy the Administrator is an avid Liverpool fan.

From the Athletic article:
"Rooney is said to have been an impressive figurehead in the crisis to date. In the wake of the “admin bomb”, as one player put it, the manager was aiming to deliver updates to his squad on Tuesday ahead of a weekend trip to Sheffield United. The expectation from within the dressing room is that Rooney intends to ride out the storm.

“This doesn’t change anything with him,” says one well-placed source. “He said to the lads ahead of the Stoke game that he wasn’t going to leave them in the trenches. He said he’ll fight with them and stand up for them. He said he could’ve walked weeks ago but this is very important to him.”

Good Grief!!! You really are something else ....Mr Cynical...so Rooney does something really good and out of his own pocket and its PR related !!!!! Just hate it when something decent is turned into something else......Not everyone does things because PR management say so...not everyone who is famous follows what PR people say like brain dead lemmings............
If it was PR related it would've been much better publicised...or did his PR team say don't worry....someone will mention it on the DCFC Forum pmsl

Check out Chester FC who were given a 25 point penalty by the EFL and went into receivership, they have worked their way back up as a phoenix club

But surely MSD has picked the administrator 

I think the word waste here is subjective, I am sure the die hard fan will want to forgo a night out or other luxuries to help out their team, if it was a choice between starving to death or investing, then obviously buy food, I think your reaction was hysterical without any reason.

You are correct I was wrong I have just had it confirmed it was historic and was removed as a house keeping exercise 

The administrators will initially try to put together an inventory of assets that they can potentially sell, as well as write to all known creditors advising them that the complany(ies) is in administration, and that all current sums payable are frozen until the administration ceases. Once they know what they have to sell, they will advertise the club for sale although are likely to be inundated with idiots and tyrekickers as well as legitimate buyers. Often they will ask for a deposit for exclusive rights to inspect the books from potential new owners. 
They will ask for a statement of affairs from management, this is a summary of the most recent management accounts and identify which, if any costs can be cut. There are likely to be redundancies as a result. 
They will also ask suppliers to sign new contracts with the administrators and guarantee payment for all future purchases during the course of the admin procedure. 
The most critical issue in the short term is that of finding funding. The wages have to be paid in September, and this will be challenging as it is a seven figure sum, with relatively few assets (property assets appear to be owned by Gellaw, which is not in administration) although there will be the residue of the season ticket money received pre appointment. In addition the administrators will estimate their fees, in the case of Wigan they were over £1.6m plus a one-third uplift upon completion of a successful sale, plus legal and other costs on a few hundred thousand. 
In the case of Wigan, the most recent football administration, things were easier because the club had property assets (it had two training grounds, one of which was sold to Preston for £1.5m) as well as plenty of players to sell (this generated £10m) as the admin took place in the summer during the transfer window. Derby's administrators have a disadvantage in both of these issues. 
Once Derby is sold the new owners will have to trade under a business plan agreed with the EFL, and a combination of the liquidators of the OldCo and the new owners need to pay all of the preferred creditors and a dividend of 25% of the unsecured creditors within two years or face a further 15 point penalty. 
Again here Derby's position is more challenging than that of Wigan, where (a) the club owner wrote off the debts due to him (b) Wigan had property assets to sell to the new club owners and (c) I think that HMRC were still unsecured creditors in 2020, so were only entitled to 25% of a much lower figure than the estimated (figure given on the podcast by RamsTrust) £26m owing to the tax authorities. The football creditors figure may be higher than in the case of Wigan too, though whether there are still monies owing to Keogh and whether they are deemed to be football or unsecured creditors is uncertain. 

Yes, I was bought up on a council estate in chaddesden, I think I know about poor

Yes, I was bought up on a council estate in chaddesden, I think I know about poor

Raising the money to purchase the club is only half the battle, the other half is having enough cash for working capital to finance ongoing operations for at least 12 months and also to reach an agreement with the creditors. I think the HMRC could be convinced to drop their claim if it was a supporter group taking over, also the EFL would take a more sympathetic attitude to football debts.
So here would be my thoughts and actions
1. Nominate a core of people with business and financial experience to reach out to the administrator to get sight of the books, there will already be a data room as the club have had a number of potential purchasers over the past months, creditor situation is straight forward as those numbers will be in the hands of the administrator. 
2. After going through the numbers prepare a business plan laying out cash forecast requirements for purchase and ongoing trading.
3. Having identified total cash required  open a subscription for people to buy shares in the club minimum £50 per share total  initial offering say 1 million shares, even the poorest fan could afford 1 share, the most well off 100 shares plus so there would be a good distribution amongst the fan base, the money would not be collected unless any offer for the club was accepted and enough promises of cash made.
It would be a simple process but the execution would depend on getting a good deal on the purchase price and a good response on the share offering.
 

Hello Kieran

Yes, I was bought up on a council estate in chaddesden, I think I know about poor

Yes, I was bought up on a council estate in chaddesden, I think I know about poor