Phuket Ram

13 minutes ago, Loughborough Ram said:

It's interesting to think about the MSD loans.

Assuming that they are being secured against the stadium then effectively it is actually Mel Morris who is providing these loans, therefore strengthening his bargaining position when it comes to the future of the club.

Do you trust him to do the right thing?

Exactly. Every loan comes from MSD and is secured against the stadium and leases. So the price for the stadium keeps increasing. 

6 minutes ago, RamBeauIV said:

Not quite correct.  e.g. BA got fined £20M for breaching GDPR.

lol it is correct buddy, corporate data is nothing to do with GDPR. GDPR is law for the use of Personal Data. Of course companies get fined for breaking the rules but they are not protected by GDPR - is the point that was being made. 

8 minutes ago, alexxxxx said:

I didn't think gdpr applied to businesses, just individuals. 

 

Yeah, I was biting my lip when I saw that too. You are of course right, GDPR only applies to individuals and their personal data. No idea why Q quoted it, but like covid, it’s a commonly referenced excuse these days

37 minutes ago, Millenniumram said:

Christ, £50m is a huge bid! No way is the club worth that much, even with the stadium thrown in. Quantuma should be snapping their hands off at that, maybe things are finally starting to look up now. Don’t think it takes a genius to work out that Ashley will surely make a bid today now, but I’d be surprised if the tight b****** matches that bid. Strongly suspect Appleby will be named the new preferred bidder now, though I’m sure Quantuma will drag it out as long as they can.

I wonder if the bid is somehow contingent on earmarking £10m (or something like that) being used to sign players? In which case it's a really smart move - not having to rely on "profit" to sign players to get the club back on its feet. Any accountants out there know if this is a "thing"? 

6 minutes ago, atherstoneram said:

HMRC are not unsecured creditors.

They are mate. 

They are preferential unsecured creditors - which means they get to make the first agreement after secured creditors. 

43 minutes ago, Curtains said:

So Appleby deal is say 22 Million for the ground and out of other 18 Million they have to pay MSD 20 Million and HMRC etc .

Is the feasible 

The MSD debt is £24m. This is cleared by whoever buys the stadium. Anything above that amount is used to pay football creditors, and then unsecured creditors like HMRC.
 

Others know more precisely, but I’d imagine it needs to be around £18-20m. But unsecured creditors can optionally be paid 35% of what they are owed through a 3 year repayment plan. Obviously this makes it more difficult to buy/loan/sign players as it is an ongoing expense. Similarly if the ground is leased - same problem (ongoing expense).

So we’re looking for a buyer to pay a total of around £42m to reduce unnecessary ongoing costs and avoid the points penalty.

We would also own the stadium again. 
 

Appleby is rumoured to have bid £40m. I don’t think that’s true, but if it was - I would take it. 

10 minutes ago, kevinhectoring said:

Worth looking at the charging documents at the companies registry. They are easy to access. They contain cross guarantees, and  fixed and floating charges - and they specifically refer to goodwill, and tangible and intangible assets. The list of chargors is in a schedule in the back 

On the quantum of MM’s PG, I think it’s been suggested that the reason he’s asking  £20m for a stadium worth £80m (haha) is that his PG is for 20. Why do you think the whole amount is guaranteed ? 

Thanks. To be honest I only looked at the fixed charge against the stadium as the rest of it is kind of meaningless given where we are now. The whole amount must be guaranteed (imho) because who on earth (and why on earth) would MSD make an unsecured loan to a company in administration? must be guaranteed. Don't you agree?

Ps. We already know that player's registrations move to the EFL in the event of liquidation, so have no residual value

2 hours ago, jono said:

You lend money with or without security. Security is against assets of the company in the normal course of events.
I understand that, but as far as DCFC are concerned they must be an ordinary creditor because DCFChas no assets to offer as security. This might not be the case  from their perspective in that they are “secured”  because they have is a debenture on the stadium owned by mr Morris (not DCFC)  .. or have I misunderstood something ?

The entire MSD loan (£24m) has a personal guarantee from MM.

MSD has a fixed (specific) charge (security) against the stadium owned by MM's company. Goodwill or shares or any other tangible or intangible assets have nothing to do with the MSD charge or the loan. 

6 minutes ago, Arsene Titman said:

Nixon also saying in the article that deal with HMRC is non negotiable but that admin fees are.

He’s guessing - as usual. It’s not a story. It’s not even information. And there’s no way the admins would come out and say “oh yeah we’re open to negotiation, quick somebody tell Nixon!”  Ffs 

4 minutes ago, Oldben said:

https://www.google.com/amp/s/www.derbytelegraph.co.uk/sport/football/football-news/derby-county-takeover-chris-kirchner-7196958.amp

"However, should either Ashley or Appleby end up being the new Rams owners, Kirchner faces losing the £1.6m spent on May's wages."

 

I know what was reported mate, but the source was Nixon. Nixon also later reported that is wasn’t kirchner, but nobody printed that because it wasn’t sensational enough. It wasn’t kirchner. 

22 minutes ago, Oldben said:

We know that ck is likely to lose 1.5 million, that he put into derby, to keep the club going.

That shows two things, 1) a desire to invest in the Club; 2) that Q has run out of money.

Which in turn, shows why the Efl have got more heavily involved with the club.

The efl know that the players wages are likely to be unpaid, unless a buyer is found.

I hope that either the efl or Q will share the figure thar ck was planning to invest, given that the amount accomplished zero -15 point deduction from the efl.

That the creditors are likely to be willing to accept that payment or derby would not continue to exist as a club and Q couldn't have accepted the figure on behalf of the creditors and the efl would not have agreed to allow the figure.

The EFL's insolvency rules state unsecured creditors must be paid immediately at 25p in the pound, or over a three-year period at 35p in the pound - otherwise the club in question will be liable for a further 15-point deduction.

Negotiations are ongoing with HMRC over an outstanding tax bill that is in excess of £30m.

From this, I assume that any bid from ma, Morgan or Appleby must also meet that minimum.

A uk businessman had offered to but the stadium, if that helped get the ck bid completed. I wonder if that still applies, if so, it helps buyers to make an offer for the club.

 

He didn’t put any ££ into Derby mate. Not a shekel. 

2 hours ago, kevinhectoring said:

You’re suggesting he’s delusional. Perhaps. But I think there’s a chance it was exactly as Nixon said:  The money was transferred and for some reason he couldn’t clear AML. 
 

His investors may now have gagged him so we may never know 

Not a chance. Otherwise he's no doubt be under investigation in the US by now.

He never had the money. Never sent any money. Never paid any wages. AML is just a plausible excuse introduced by Nixon.

He obviously likes to hang out with famous and wealthy people, mainly sportsmen. At least he's probably got Rooney's mobile number out of it - although I doubt they'll be hanging out together. 

12 minutes ago, RoyMac5 said:

 

Would have been quicker and more accurate just to say “no.” 

1 hour ago, Coconut's Beard said:

Yes, I'd much rather just read the stories that people with no connections to anyone make up off then top of their heads and then convince themselves must be true propagate on social media. They may be at best conjecture and at worst complete and utter turd, even libelous, but what does that matter?

It's much better for people who haven't got the first clue what they're talking about to whip themselves and others up into a frenzy based on their emotional reading of a situation than to believe anything Alan Nixon says.

Yep - that’s the fella

17 minutes ago, RoyMac5 said:

Lol. He's being questioned about Rosenior going to see Rooney before announcing the Blackpool job.

But (look away now Nixon disbeliever's! ? )

 

Could do without any more of Nixon’s guesswork being posted on here. It doesn’t help anyone, just his pushing his ego. 

18 minutes ago, Gritstone Ram said:

I just think to get to this point he must have gone to some great expense with solicitors etc. I think he’s the quickest option but I don’t really think he’s the best. I think MA has far more experience in this sort of thing and given the choice I would have him over CK. 

if he pays them…! he’s not got a great record for paying, obviously. 

2 minutes ago, jimtastic56 said:

That is quite a high persentage of confidence that the takeover can be done in 2 weeks Phuket .Q will have really upped their game compared to the last 12 months.Fingers cross you are right ?

It has to, therefore it will.

too many people won’t let dcfc die. 100%

23 minutes ago, Gritstone Ram said:

didn’t they do two lists last season?

They apparently prepared 2 lists. As they are presumably doing now. One with us in it, and one without. What’s your point?

16 minutes ago, GenBr said:

I know its not part of dcfc or administration. My question is has the sale of the stadium gone through yet or was it reliant on the takeover? If the club is liquidated the stadium becomes useless and i would rather that fall on mel rather than whoever decided to help us out by buying it.

 

Ah sorry, well It’s prime development land, he’d (or whoever owns it) have no problem selling it for £23m or more. Nobody will lose [much] money on the stadium.

except Mel of course.

2 minutes ago, RoyMac5 said:

Were they convinced it was sent or convinced it was in his account do we know. Listening to Dawes this morning he didn't seem too clear on that point.

The admins never said the money had been sent. Nixon did.

23 minutes ago, PistoldPete said:

Whilst time is important the Efl fixture list should absolutely not be the determining factor. We need to be able to renew player contracts so the deal needs to be closed very quickly. But closing a deal in two weeks just because the Efl are worried about their fixture computer is ridiculous . We need a proper owner who will pay enough for creditors and not an asset stripper . 
 

the Efl deadline can be dealt with by some form of guarantee by local benefactors. Clowes has already got a deal for the stadium soo that can be part of the business plan so that we are financed for the season or until the new owner takes over. 
 

Sorry mate, the fixture list IS the determining factor as we won’t be on it unless we have a credible business plan and funds. Which means a buyer. No two ways about it. And regarding your “asset stripper” comment - you’ve been watching too many movies buddy, we don’t have ANY tangible assets. Maybe a stapler, but that’s about it. We have nothing to stip. 

Just now, GenBr said:

Does he still own the stadium? My only hope if we do get liquidated was that he would at least see some kind of consequences by being lumbered with a big useless stadium. Hopefully the sale was based on the proviso that the club be sold first.

He owns the stadium but it’s not part of dcfc or administration, except that MSD has a charge against it for the £23m loan. Whatever happens, he won’t make a bean on the stadium. 

Just now, jimtastic56 said:

Wages have got to be paid again in 2 weeks. We probably won’t have a Preferred Bidder by then. Is there any compensation coming from Blackpool for Rosenior ? That would help ?

100% the buyer will be in before then. 

There will definitely be some compo, but depends how long his contract was. I’m guessing £100k or something in that region.  Will help but won’t be needed in my opinion.

7 hours ago, Phuket Ram said:

Morris

I called out kirchner weeks ago, and I’m calling this one too. It can only be Morris who paid the wages.

4 hours ago, 86 Hair Islands said:

You weren't alone buddy. Sometimes I guess you just have to ignore the evidence and go with your gut. If it makes you feel better, I thought Morris would be a dream owner, that we'd fly under Cocu, that Rooney would be a disaster and that CK would close the deal today.

I wonder if I swear blind we won't be rescued, we will ?

The “evidence” was mainly Nixon’s bs. Most of the jackanory stories were sourced back to him. I hope we don’t hear from him again.  He clearly fooled a lot of people. Plan B - Run for the hills? Can see why he works for the Sun.