Phuket Ram

How I long for the golden days when we discussed transfers, formations, post match debriefing etc. This has become the accountancy thread.

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. 

As I understand it Derby County FC owe MSD ….. but Mel has given PPS as security for that debt. So if DCFC fail - I.e are liquidated or only pay x pence in the pound, MSD then go after Mel for the security he offered 
@Ghost of Clough is that right ? 

According to that latest document:
From admins' appointment, £20.5m
Trading loan of £3.5m
Total up to 21st March, £24m. I don't believe any extra has been taken on since, unless anyone else knows to the contrary

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

It was, as I recall permitted by mm do against the stadium and MMS houses in London. So has to be paid back as part of the stadium deal

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

This is exactly the problem, he showed “proof of funds” and yet evidently didn’t have them. That suggests to me the “proof” the EFL and Quantuma required was not good enough. Same for the fit and proper person test, we all know that’s a complete nonsense. I could make the highest bid, but if it’s Monopoly money, I shouldn’t be made preferred bidder. This has to be sorted out, for the next club in our position as much as anything else.

Are they for real.  Back in February maybe.  An investigation of this kind now gives us a 3 month extension in the process.  Tools are downed and anything they have done won't be shared.  External funding will have to come from a generous source till September who doesn't mind peeing a few million up the wall and we have no one to bring in players.  No one will take over the administration in case Quantuma get there 4 million.  They will be our new Gibson. 
This, with things needing to move over the next week, sends us to The Markeaton Park hangover Sunday league.  Investigate as much as you want after the event. 
 

Again, I understand the feeling and motivation behind this, but so long as it isn't a distraction. Yes, it needs looking into carefully, but not when things are so delicate.

Isn’t it unproven either way but you state your view of it as fact ,,which is probably the same and in fact worse than what you’ve pulled the poster up for?

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 

Sounds like Witchcraft to me.

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. 

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

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. 

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. 

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. 

If Appleby takes over, doesn’t buy the stadium outright and doesn’t pay enough to not get the -15….where will the anti Ashley brigade position themselves towards him? I suspect plenty of backtracking will be done 

Someone has taken Nixon for a ride re Kirchner from start to finish (Stretford obviously). Nixon is still going on about 'the real story will come out soon.' The real story is pretty simple, he doesn't have the money and his attempts at trying to find the money failed. Everything about the way he talks/carries himself screams of someone who desperately wants to be seen as wealthy when in fact, he is really not.
 

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. 

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

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. 

If they were totally anonymous how does Nixon know about it ?