vonwright

I'm going out on a limb here, we could draw this ?

They all run together. Arguably the risk-reward in the Lampard season was justified only if we had immediately slashed expenditure to make ourselves more sustainable once it failed. Otherwise you might find no one wants to buy your debt-ridden and loss-making business, and eventually end up with a huge points penalty for going into administration. 
The reason he couldn't find a buyer was because of the way he'd run the club. 

They all run together. Arguably the risk-reward in the Lampard season was justified only if we had immediately slashed expenditure to make ourselves more sustainable once it failed. Otherwise you might find no one wants to buy your debt-ridden and loss-making business, and eventually end up with a huge points penalty for going into administration. 
The reason he couldn't find a buyer was because of the way he'd run the club. 

I think this is a salient point. The Adminstrator has a duty of care to all creditors of the club. I am not convinced COVID is the prime issue for our demise personally, but it is difficult to argue that the loss of £20m revenue because of a once in a millennium pandemic is not a contributing factor. With less of a points deduction, and therefore a little better odds of escaping relegation and a further large cut in revenue next season, the club is more saleable, and for a higher sum. Morris’s relationship with the EFL was toxic; the EFL’s negotiations with professional Administrators should be much more businesslike and focussed on the real issues, not dealing with settling old scores.

They all run together. Arguably the risk-reward in the Lampard season was justified only if we had immediately slashed expenditure to make ourselves more sustainable once it failed. Otherwise you might find no one wants to buy your debt-ridden and loss-making business, and eventually end up with a huge points penalty for going into administration. 
The reason he couldn't find a buyer was because of the way he'd run the club. 

Is your point that in the 'real world', someone who has spent a fortune on a football club, saddled it with huge debts and completely unsustainable wages, who then finds out no one wants to buy that club, might one day decide to dump the club into administration and walk away if the EFL refuse him a loan to add to all the club's other debts? Even if he told the fans who cared deeply about his club that he'd protect it, and explicitly said he wouldn't walk away until he'd found a buyer?
Okay. Maybe that happens in the 'real world'. In which case what also happens in the 'real world' is that people like me judge people like him. With good reason. 
All the choices he made that put us here were his, all the reassurances he gave he chose to give. Or perhaps he wasn't living in the 'real world' when he did the reckless things he did, and gave the reassurances he wouldn't keep?
 

They all run together. Arguably the risk-reward in the Lampard season was justified only if we had immediately slashed expenditure to make ourselves more sustainable once it failed. Otherwise you might find no one wants to buy your debt-ridden and loss-making business, and eventually end up with a huge points penalty for going into administration. 
The reason he couldn't find a buyer was because of the way he'd run the club. 

They all run together. Arguably the risk-reward in the Lampard season was justified only if we had immediately slashed expenditure to make ourselves more sustainable once it failed. Otherwise you might find no one wants to buy your debt-ridden and loss-making business, and eventually end up with a huge points penalty for going into administration. 
The reason he couldn't find a buyer was because of the way he'd run the club. 

Fair enough. I don't know exactly what he said, and you are right - I'm not that interested in to what extent it could be considered a 'formal undertaking', as opposed to just part of a pattern of giving fans a false sense of security. 

Well yeah it was the owner that gambled on promotion… if we gambled at the casino and didn’t win, we’ve lost our money. I can’t exactly say to the dealer, “well I didn’t win so I’m not giving you my money” 
He could have simply backed us within FFP, stuck it out with managers etc. But no every single year we had to spend a fortune paying over the odds for players and gambling on promotion. 
 
I mean even under Cocu… £10m on Beliek, whose brain child was that?! “I  know what will get us out of this league £10m CDM” not Ivan Toney, Ollie Watkins, Jarred Bowen etc. CDM. Ffs ?‍♂️. 
 
If this was genuinely covid then great yeah fair enough. But no, Mel bought the club virtually Derby free. I think he paid off a small mortgage on the ground when he took over. We are currently £50/60m in debt. What has he actually put into the club? Apparently we have a £30m turnover in the the championship… so 5 years at £30m = £150m plus £50m debt = 200m. I doubt he’s put much money in the club at all. 
 
IMO he should pay off all the clubs debts and stop waiting for other people to clear up his mess 

Is your point that in the 'real world', someone who has spent a fortune on a football club, saddled it with huge debts and completely unsustainable wages, who then finds out no one wants to buy that club, might one day decide to dump the club into administration and walk away if the EFL refuse him a loan to add to all the club's other debts? Even if he told the fans who cared deeply about his club that he'd protect it, and explicitly said he wouldn't walk away until he'd found a buyer?
Okay. Maybe that happens in the 'real world'. In which case what also happens in the 'real world' is that people like me judge people like him. With good reason. 
All the choices he made that put us here were his, all the reassurances he gave he chose to give. Or perhaps he wasn't living in the 'real world' when he did the reckless things he did, and gave the reassurances he wouldn't keep?
 

Fair enough. I don't know exactly what he said, and you are right - I'm not that interested in to what extent it could be considered a 'formal undertaking', as opposed to just part of a pattern of giving fans a false sense of security. 

Is your point that in the 'real world', someone who has spent a fortune on a football club, saddled it with huge debts and completely unsustainable wages, who then finds out no one wants to buy that club, might one day decide to dump the club into administration and walk away if the EFL refuse him a loan to add to all the club's other debts? Even if he told the fans who cared deeply about his club that he'd protect it, and explicitly said he wouldn't walk away until he'd found a buyer?
Okay. Maybe that happens in the 'real world'. In which case what also happens in the 'real world' is that people like me judge people like him. With good reason. 
All the choices he made that put us here were his, all the reassurances he gave he chose to give. Or perhaps he wasn't living in the 'real world' when he did the reckless things he did, and gave the reassurances he wouldn't keep?
 

That is factually incorrect, they had a charge and debenture over the club and a mortgage on the ground when they left, these were paid off by Morris (see companies house documents). I have no love for GSE they thought they could make a fast buck they spent nothing then bailed out, I think being owned by Private Equity or a wealth fund is not a good move other than to take us out of admin, they would buy the stadium it is true but then leverage it again to get some of their cash back. We need a wealthy individual(s) with a medium term 5 year plan and super deep pockets, I believe the USA will come to our aid, I still think David Tepper will bid as he now owns an MLS club  Charlotte FC and there are obvious synergies.

I wasn’t overall happy when Rooney took over and last season didn’t do much to change my mind. 
 
Fast forward to today and I can’t think of anyone I’d rather have. The way he is conducting himself throughout all this is commendable. You can hear in his voice that he cares for the club, players and fans and he has the desire to stick it out. 
 
Well done Wayne keep at it, we need you more than you need us. ??

Was administration really necessary?
Mel blaming covid but we are pretty much out of covid.
We're getting fans back in the ground, our wage bill with the players that have left and the max £4.5k PW for new players must mean our wage bill is at the lowest i  years
Surely money coming to money going out looks a lot better
If HMRC & others are calling in debts then surely he has enough money (if he cared) to do a directors loan to the club at zero interest & pay off all debts & loans which would put us in a better position than paying interest
He literally doesn't care. If our accounts fail then take the points. 
Surely morris is still a very wealthy man.
Thissituation stinks more because it feels like he wont sort the mess he created or fund the club rather than can't 

Hate is way too strong for me, but definitely angry. 
Complains about spending £200m of his own money on the club - well couldn't you have spent some of that not saddling us with a crippling, and possibly fatal mountain of debt? Fails to pay £26m of tax, fails to submit accounts, defends to the hilt accounting policies that appear to have hidden our slide into complete unsustainability. Says nothing to the fans for months, letting them  believe all is fine. Then bails, leaving us with a 12-point penalty (with more to follow), huge debts, and no stadium or assets to speak of. Staff out of jobs, suppliers out of pocket and the club facing the very real prospect of failing to find a buyer and going out of business.
This would be bad enough with any company. With a football club it's much worse. It means a lot to a lot of people. There is a reason Google don't get an open-topped bus tour through San Francisco every time they end the year as America's top search engine.

Hate is way too strong for me, but definitely angry. 
Complains about spending £200m of his own money on the club - well couldn't you have spent some of that not saddling us with a crippling, and possibly fatal mountain of debt? Fails to pay £26m of tax, fails to submit accounts, defends to the hilt accounting policies that appear to have hidden our slide into complete unsustainability. Says nothing to the fans for months, letting them  believe all is fine. Then bails, leaving us with a 12-point penalty (with more to follow), huge debts, and no stadium or assets to speak of. Staff out of jobs, suppliers out of pocket and the club facing the very real prospect of failing to find a buyer and going out of business.
This would be bad enough with any company. With a football club it's much worse. It means a lot to a lot of people. There is a reason Google don't get an open-topped bus tour through San Francisco every time they end the year as America's top search engine.

In any case which fans does he really think are going to be sympathetic to the line: 'I spend £200m putting your club in such a perilous position it may now go out of business entirely. And now I only have £300m left!'
I would hope he's taken his moral responsibilities seriously in taking this step, and can honestly say he's done everything he could to secure the club's future. Because if we do get liquidated, that's the only thing he will be remembered for. 

Take him, took my son at5, now 34 a nd just started taking his 4 year old son. They are expecting a little girl and i hope we will have a club to take her to at 4.
 

Yes, this really pisses me off! He's slashed players & wages et al to the point where we're a (potentially) sustainable Championship club and so he ditches us into admin which will make us an unsustainable (at our current level) League 1 club. FFS!

Yup, I think we are well past 'Beggars can't be choosers' at this point ?

In any case which fans does he really think are going to be sympathetic to the line: 'I spend £200m putting your club in such a perilous position it may now go out of business entirely. And now I only have £300m left!'
I would hope he's taken his moral responsibilities seriously in taking this step, and can honestly say he's done everything he could to secure the club's future. Because if we do get liquidated, that's the only thing he will be remembered for. 

In any case which fans does he really think are going to be sympathetic to the line: 'I spend £200m putting your club in such a perilous position it may now go out of business entirely. And now I only have £300m left!'
I would hope he's taken his moral responsibilities seriously in taking this step, and can honestly say he's done everything he could to secure the club's future. Because if we do get liquidated, that's the only thing he will be remembered for. 

The more I read the angrier I get. It's one thing gambling with your own money, but this was gambling with the very existence of the club - in other words gambling with something which has been very important to generations of people with a fraction of the money that Mel has. It's not even like he's gone bankrupt in the process, just walked away with his overpriced stadium and list of people who are 'really' to blame.