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thelovebelow

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  1. Haha
    thelovebelow reacted to mrdave85 in The Administration Thread   
    Do these people on Twitter not know how triggering it is to see the corner flag being used??
    https://twitter.com/jackbarlow2021/status/1483892653171384327?s=21
  2. Like
    thelovebelow reacted to CBRammette in MPs meet Quantuma update tweet 19/01   
    That is total disrespect though sorry. Bury would be as important to all of their fans and its place in their lives as Derby is to us. That is what this is about. We must not forget that esp how their MP spoke so eloquently to help us yesterday
  3. Like
    thelovebelow reacted to Sparkle in MPs meet Quantuma update tweet 19/01   
    Absolute disgrace of an organisation the EFL board are an absolute disgrace 
    now tell me that Mel Morris wasn’t wrong about the EFL and the Middlesbrough parasite 
  4. Clap
    thelovebelow reacted to Day in The Football Creditor rule is explicit, simple, and solves all of Derby's issues   
    Three parties have made offers, any one of which would allow the club to exit administration with a substantial payment to creditors.
    These offers need clarity, that the claim by Boro and the potential claim by Wycombe do not qualify as Football Creditors.
    The football creditor rule is not defined in the EFL regulations, it is part of the Articles of Association of the Football League Limited, of which all clubs are minority shareholders (the golden share).
    The football creditor rule is in Article 48, which clearly defines what constitutes a football creditor, copied below from Companies House.
    The rule clearly states that it is to cover payments of "debts due". How possibly, can an unproven, unquantified claim such as Boro's be consider a debt due?
    If the EFL is suggesting that any claim by a football club or employee, which is unproven, should be classified as a football creditor it would create mayhem. And, bona fide football creditors with debts due, and other preferential and unsecured creditors would lose out as a result.
    The EFL can't have this both ways. If they choose to say Article 48 does not qualify Boro's claim as a football creditor the EFL are suggesting they might be sued by Boro.
    However, if they choose to say that Article 48 should be interpreted (which is a wild stretch) in a way that Boro should be classed as a football creditor then it is almost certain that the EFL would be sued by the Administrators and the creditors including genuine football creditors, and HMRC for their easily quantified losses. 
    The EFL also risk being sued under section 994 of the companies act for acting prejudicially against the interests of a minority shareholder of the football league ie. DCFC.
    We need to apply pressure on the EFL to get off the fence, see that their actions alone are preventing the Administrators from getting a deal agreed. 
    Article 48 says that Boro's claim cannot be a football creditor and the EFL must state that and stop this nonesense.
    "48         FOOTBALL CREDITORS
    48.1      Where a Member Club defaults in making any payment due to any of the following persons, 
    the Member  Club ('Defaulting  Club')  shall be subject to such penalty  as the Board may decide 
    and subject also to Article 48.2:
    48.1.1        The League, The FA Premier League and the Football Association;
    48.1.2        any of the Pension Schemes;
    48.1.3        any Member Club and any Club of The FA Premier League;
    48.1.4        any holding company  of The League and any subsidiary  company  of that holding 
    company;
    48.1.5        any sums due to any full-time employee or former full-time employee of the Member 
    Club by  way  of arrears  of remuneration  up to the date on which that contract  of employment is 
    terminated. This excludes for these purposes all and any claims for redundancy,   unfair   or  
    wrongful   dismissal   or  other   claims   arising   out   of  the termination  of  the  contract  
    or  in  respect  of  any  period  after  the  actual  date  of termination;
    48.1.6        any  sums  due  to  the  Professional  Footballers  Association  in  repayment  of  
    an interest  free loan together with such reasonable  administration and legal costs as have been 
    approved by the Board;
    48.1.7        The Football Foundation;
    48.1.8        The Football Conference Limited trading as "the National League";
    48.1.9        The Northern Premier League Limited;
    48.1.1O      The Isthmian League Limited;
    48.1.11      The Southern League Limited;
    48.1.12      Any member club of the League or organisations listed in Articles 48.1.8 to 48.1.11 
    inclusive;
    48.1.13      Any County Football Association affiliated to The Football Association; and
    48.1.14      Any Leagues  affiliated to The Football Association  and any clubs affiliated to any 
    County Football Association recognised by The Football Association.
    48.2      Subject to the provisions of Articles 48.3 and 48.4, the Board shall apply any sums 
    standing to the  credit  of  the  Pool  Account  which  would  otherwise  be  payable  to  a  
    Defaulting  Club,  in discharging  the  creditors  in Article  48.1.  As  between  the Football  
    Creditors,  the  priority  for payment shall be in accordance with the order in which those 
    Football Creditors are listed in Article 48.1.
    48.3      If,  having  discharged  all Football  Creditors  in  any  preceding  class  of  Football 
     Creditor  (as
    · required by Article 48.2) the sum then available is not suffident to discharge in full the 
    Football Creditors listed in Articles 48.1.1, 48.1.2 or 48.1.4 the Board will decide the 
    allocation.
    48.4      If,  having  discharged  all Football  Creditors  in  any  preceding  class  of  Football 
     Creditor  (as required by Article 48.2) the sum then available is not sufficient to discharge in 
    full the Football Creditors listed in Article 48.1.3, 48.1.5, 48.1.12, 48.1.13 or 48.1.14 the sum 
    will be allocated pro rata amongst the creditors of the same class.
    Note - Clubs are reminded that any assignment of future entitlements from the pool account are 
    subject to Article 45 and this must be brought to the attention of the other party. Furthermore 
    assignments must be in legal form and registered with the office. Assignments are given priority 
    according to the date and time of registration."
  5. Like
    thelovebelow reacted to DarkFruitsRam7 in The Administration Thread   
  6. Like
    thelovebelow reacted to Ghost of Clough in Margaret Beckett on Radio Derby   
    Someone can use this as a starting point if they want...
    Timeline of events, beginning with the introduction of financial regulation in the Championship.
    1.       2012 - FFP Rules (monitored over 1 season) implemented
    2.       24/05/14 - Derby lose to FFP cheats QPR in the Playoff Final
    3.       November 2014 – P&S rules (monitored over 3 seasons) voted in to replace FFP rules for the 16/17 season onwards.
    4.       Summer 2015 – Derby change amortisation policy for the 15/16 season (after discussing the change with the auditors)
    5.       07/04/17 – 15/16 accounts are submitted to Companies House
    6.       06/04/18 – 16/17 accounts are submitted to Companies House
    7.       Spring 2018 –2016-18 P&S information submitted to EFL (within limits)
    8.       12/04/18 – Revised 2016-18 P&S information submitted to EFL due to differences between FFP and P&S calculations (£5m over the limit)
    9.       04/05/18 – DCFC placed under embargo
    10.   May 2018 – Stadium valued at £81.1m (profits basis) and £74.4m (DRC basis) by JLL
    11.   June 2018 – Discussions with EFL to agree on stadium sale and how much to be included in the accounts)
    12.   28/06/18 – Stadium sold for £81m. Revised 2016-18 P&S information submitted to EFL (within limits)
    13.   03/07/18 – Embargo lifted
    14.   04/07/18 – EFL confirmation that DCFC met their P&S requirements for the 3 year period to 2018.
    15.   15/02/19 – EFL Executive confirmation that £81.1m was fair value for the stadium.
    16.   06/03/19 – placed under embargo for late submission of P&S statements
    17.   29/03/19 – 2019 P&S statements submitted to EFL (within limits) and embargo lifted. New embargo placed on club due to being close to the limit.
    18.   05/04/19 – 17/18 accounts are submitted to Companies House
    19.   April 2019 - MFC queried, “in forceful terms”, the legitimacy of such a sale and leaseback arrangement
    20.   15/04/19 – EFL query why amortization fluctuates so much between seasons.
    21.   13/05/19 – Meeting between DCFC and EFL to discuss amortization, EFL stated “it is an acceptable accounting policy” with the EFL stating large future impairments are a risk for the club to take on
    22.   24/05/19 – MFC submitted a claim against Derby, stating we cheated P&S by selling the stadium for too much and it wasn’t arms length.
    23.   09/07/19 – MFC claim PPS should have been sold at a fair value of £22.8m
    24.   11/07/19 – Embargo lifted
    25.   30/07/19 – MFC officially threatened the EFL and DCFC with proceedings unless the EFL initiated disciplinary action against DCFC
    26.   06/09/19 – MFC servered notice of arbitration to get profits from stadium sales excluded from P&S calculations (including those in the past)
    27.   02/12/19 – EFL hired expert valued stadium at £42-50m. Expert had not visited the stadium but deemed the facilities to be “bog standard” and drew comparisons to Morecombe’s 6476 stadium with 3 terraced stands.
    28.   16/01/20 – Derby charged with selling the stadium above it’s true value and for using improper amortization policy, resulting in exceeding P&S limits in the 3 years to 2018
    29.   Early 2020 – Derby placed under embargo
    30.   25/08/20 – DC cleared of overvaluing the stadium, found guilty for 1 of 5 particulars relating to the amortisation policy (not worded it adequately in the accounts), but insisted the policy was compliant with FRS102. DC panel consisted of accountants
    31.   07/09/20 – EFL appealed against the DC decision
    32.   07/09/20 – Boro started an arbitration against Derby and the EFL, in particular regarding the stadium valuation which allowed us to sign Waghorn
    33.   22/10/20 – Boro’s application rejected
    34.   30/11/20 – De novo hearing held and dismissed (EFL wanting draft 18/19 accounts submitted after DC decision to be considered)
    35.   15/12/20 – EFL application for new evidence to be considered (18/19 draft accounts), dismissed 22/01/21
    36.   July 2021 – LAP decision resulting in a restatement of 15/16 accounts onwards with a compliant amortization policy and a £100k fine. LAP did not consist of any accountants.
    37.   22/09/21 – Derby enter administration
    38.   16/11/21 – Administrators agree 9-point deduction due to EFL’s claim of a P&S overspend, a result of the EFL rejecting our new amortisation policy
     
    Other noteworthy events:
    EFL stated as wanting the points deduction against Derby to be applied in 20/21 to cause maximum punishment (relegation) when the season had already concluded.
    Embargoes: 04/05/18-03/07/18, 06/03/19-11/07/19, early 2020-present
  7. Haha
    thelovebelow reacted to RadioactiveWaste in The Administration Thread   
  8. Like
    thelovebelow reacted to StarterForTen in The Administration Thread   
    Isn't it great how the conversation has changed over the last 72 hours? Thanks to the valiant call-to-arms of some heroic Rams fans the noise generated has been spectacular.
    MPs, media doyennes, City of Derby leaders and 40,000 fans have put their shoulders to the wheel and turned the discussion on its head.
    Now it's not (all) about how naughty Derby County are; it's about shining a spotlight on what is fair and appropriate.
    Well done to all involved.
  9. Like
    thelovebelow reacted to Leeds Ram in The Administration Thread   
    Derby discussed during the 35-59 mins in to the podcast 
  10. Haha
  11. Like
  12. Like
    thelovebelow reacted to Carnero in Sheffield United (H) Matchday Thread Saturday 15th January 3pm   
    The Stearman Cometh

  13. Like
    thelovebelow reacted to Zag zig in Views From the Outside 21/22   
    Not really a newspaper view, but my best mate a Blades fan openly conceded the best team won; was very impressed with the solidarity between fans and team. He’s even signed our petition (sending the piggies down deserved it apparently ?).
    Anyway, we do have friends out there wishing us well ?
  14. Haha
  15. Haha
  16. Like
    thelovebelow reacted to SKRam in Sheffield United (H) Matchday Thread Saturday 15th January 3pm   
    First name Paulo? 
  17. Like
    thelovebelow reacted to CBRammette in Sheffield United (H) Matchday Thread Saturday 15th January 3pm   
    Sat here in bits again. My dad is really really ill and his bad days seem to coincide with bad news Derby days. He is Derby through and through and I'm not sure he understands or is aware of the off the field stuff now but I know later watching those goals on Quest with him how he will light up as little else makes him do now. That is why we have to save our club. It is not about amortisation, stadium sales, law suits, points deductions, etc. it is about watching those goals with my dementia-ridden dad and seeing his happiness for a few minutes later knowing we're off the bottom. The wonder of dementia is he will have forgotten tomorrow so we can do it all again several times. So duck the EFL, Morris, Gibson and the nobody chancer from Wycombe. We are better people than all of you and how dare you threaten the existence of our Derby family. 
  18. COYR
    thelovebelow reacted to Pottig in Sheffield United (H) Matchday Thread Saturday 15th January 3pm   
    I live in Spain and watched with my Costa Rican flatmate. Even he celebrated like crazy when Lawrence scored.
    I love this club.
  19. Cheers
    thelovebelow reacted to cosmic in Sheffield United (H) Matchday Thread Saturday 15th January 3pm   
    Apparently it’s only selected countries. I’ve got a mate in Japan who’s able to watch it. 
  20. Cheers
    thelovebelow got a reaction from DerbyRam! in Sheffield United (H) Matchday Thread Saturday 15th January 3pm   
    Anyone else having problems with rams TV. 
  21. Haha
    thelovebelow reacted to EnigmaRam in The Administration Thread   
    Is Michael Masi on the EFL board these days? 
  22. Haha
    thelovebelow reacted to SSD in The Administration Thread   
    Live update post EFL meeting
     

  23. Like
    thelovebelow got a reaction from DCFC1388 in The Administration Thread   
    Maybe Ashley is missing owning a club. He doesn't exactly need the money Does he. Maybe he wants to make a better go of it without entitled fans. 
    I'd like for him to spend some cash, sure but I didn't enjoy watching us spend 4mill on Anya etc. Infrastructure is in place for us. We need a good sensible scouting system. We've not had a good one since Burley's days of buying hidden gems. Sensible spending and continue developing the excellent academy. 
  24. Like
    thelovebelow got a reaction from Kathcairns in The Administration Thread   
    Maybe Ashley is missing owning a club. He doesn't exactly need the money Does he. Maybe he wants to make a better go of it without entitled fans. 
    I'd like for him to spend some cash, sure but I didn't enjoy watching us spend 4mill on Anya etc. Infrastructure is in place for us. We need a good sensible scouting system. We've not had a good one since Burley's days of buying hidden gems. Sensible spending and continue developing the excellent academy. 
  25. Haha
    thelovebelow got a reaction from Bubbles in The Administration Thread   
    Looks like a proper Ram that fella 
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