CornwallRam Posted January 12, 2020 Share Posted January 12, 2020 18 hours ago, G STAR RAM said: Not that strange, not seen it said anywhere by anyone that it was to do with cash flow. Only seen it being related to the investment not being forthcoming. MM has been writing the cheques to cover the wages for a few years now. I'd say it is more strange that you have assumed that lines of credit are going to be squeezed based on wages being paid 1 day late! Not having cash available is a cash flow issue. You are simply wrong to assert that paying the wages late won't make people view Derby County as an increased credit risk. One instance won't do much more than put people on alert. A second apparent cash flow incident will reduce the availability of credit and make it more expensive. Link to comment Share on other sites More sharing options...
Steve How Hard? Posted January 12, 2020 Share Posted January 12, 2020 21 minutes ago, MackworthRamIsGod said: I'd heard all was well and Gabay and his representatives went to Moor Farm to sign the last bit of paperwork over breakfast only to be offered a fry up containing no sausages. The deal hit the walls there and then. That's banger out of order if true. Link to comment Share on other sites More sharing options...
uttoxram75 Posted January 12, 2020 Share Posted January 12, 2020 1 hour ago, Anag Ram said: I heard they have switched from M&S selection to custard creams in the boardroom. We're doomed. What, exactly, is wrong with custard creams? Link to comment Share on other sites More sharing options...
Anag Ram Posted January 12, 2020 Share Posted January 12, 2020 13 minutes ago, uttoxram75 said: What, exactly, is wrong with custard creams? I bet you're a Tom Lawrence fan ? Link to comment Share on other sites More sharing options...
BodminRam Posted January 12, 2020 Share Posted January 12, 2020 1 minute ago, Anag Ram said: I bet you're a Tom Lawrence fan ? No, its just Uttox cant make up a conversation without mentioning biscuits, lol Link to comment Share on other sites More sharing options...
Bwash_Ram Posted January 12, 2020 Share Posted January 12, 2020 These puns are the wurst. Link to comment Share on other sites More sharing options...
RamLad1884 Posted January 12, 2020 Share Posted January 12, 2020 Let's put all the scaremongering down. Gabay (either as himself or as the front for a consortium) has 100% already invested. Companies in his name have already registered charges against the ground, that 100% would not have happened prior to at least some funds being paid to either MM or to the club. One of two things are likely right now: Gabay has invested a lower amount with security on PP and we are signing off on a larger loan amount. Or what's far more likely: investment is already signed off, money has been with the club a while and the club are putting on a front to avoid other clubs knowing we have funds. Link to comment Share on other sites More sharing options...
G STAR RAM Posted January 12, 2020 Share Posted January 12, 2020 1 hour ago, CornwallRam said: Not having cash available is a cash flow issue. You are simply wrong to assert that paying the wages late won't make people view Derby County as an increased credit risk. One instance won't do much more than put people on alert. A second apparent cash flow incident will reduce the availability of credit and make it more expensive. So where did the cash magically appear from within one day? Based on the fact that we dont appear to use any credit, I cant say I'm too concerned. If we do have a cashflow issue it will be interesting to see what happened to the £80m that we sold the ground for. Link to comment Share on other sites More sharing options...
Donny Ram Posted January 12, 2020 Share Posted January 12, 2020 Spot on G Fairly sure MM said it was just an administrative error that caused the delay. Also, it’s correct a charge has been placed by the new companies on PPS, so clearly there is additional finance been paid in to the club but not yet announced. Link to comment Share on other sites More sharing options...
uttoxram75 Posted January 12, 2020 Share Posted January 12, 2020 2 hours ago, Anag Ram said: I bet you're a Tom Lawrence fan ? Don't be crackers. Link to comment Share on other sites More sharing options...
uttoxram75 Posted January 12, 2020 Share Posted January 12, 2020 2 hours ago, BodminRam said: No, its just Uttox cant make up a conversation without mentioning biscuits, lol If only he knew the skill and training required to produce the perfect custard cream mate... Link to comment Share on other sites More sharing options...
BodminRam Posted January 12, 2020 Share Posted January 12, 2020 26 minutes ago, uttoxram75 said: If only he knew the skill and training required to produce the perfect custard cream mate... I am sure your the man to do that, after all you told me about 20 times in one day Link to comment Share on other sites More sharing options...
CornwallRam Posted January 12, 2020 Share Posted January 12, 2020 1 hour ago, G STAR RAM said: So where did the cash magically appear from within one day? Based on the fact that we dont appear to use any credit, I cant say I'm too concerned. If we do have a cashflow issue it will be interesting to see what happened to the £80m that we sold the ground for. The cash came from Mel writing a cheque to alleviate the cash flow issue. Cash flow issues aren't necessarily problems. There are many reasons why businesses don't have cash in the right place at the right time. Mel clearly had sufficient liquid assets available to sort this quickly. Clearly though, it wasn't meant to happen in that way. All business use credit. We'll pay suppliers after a set period, eg 90 days. We'll pay contractors after they invoice us. We also pay transfer fees in instalments. I believe we also have an effective overdraft facility. It's mostly short term and perfectly normal, but it's still credit and we would miss it if wasn't available. Link to comment Share on other sites More sharing options...
G STAR RAM Posted January 12, 2020 Share Posted January 12, 2020 1 hour ago, CornwallRam said: The cash came from Mel writing a cheque to alleviate the cash flow issue. Cash flow issues aren't necessarily problems. There are many reasons why businesses don't have cash in the right place at the right time. Mel clearly had sufficient liquid assets available to sort this quickly. Clearly though, it wasn't meant to happen in that way. All business use credit. We'll pay suppliers after a set period, eg 90 days. We'll pay contractors after they invoice us. We also pay transfer fees in instalments. I believe we also have an effective overdraft facility. It's mostly short term and perfectly normal, but it's still credit and we would miss it if wasn't available. And how have wages payments been made previously to December 2019? I am sure that suppliers offer us credit terms, not sure that this will become more expensive due to us paying wages one day late though. Agree that we probably use an overdraft, interest rate for this will be set by bank and pretty sure us paying one day late would be factored into this. Link to comment Share on other sites More sharing options...
B4ev6is Posted January 14, 2020 Share Posted January 14, 2020 Even I got paid late as it fell on a bank holiday so had wait extra 24 hours no big probleam poor babies had wait 48 hours with amount money there on. Link to comment Share on other sites More sharing options...
S8TY Posted January 14, 2020 Share Posted January 14, 2020 Also this has become news so clubs might think we are short of a bob or two and won't hike up the prices when we enquire about there players....just a hunch Link to comment Share on other sites More sharing options...
IslandExile Posted January 16, 2020 Share Posted January 16, 2020 <Bump> Not so close then.....seems like we've forgotten about it to the extent that it's no longer even mentioned. Link to comment Share on other sites More sharing options...
ThePrisoner Posted January 16, 2020 Share Posted January 16, 2020 12 minutes ago, IslandExile said: <Bump> Not so close then.....seems like we've forgotten about it to the extent that it's no longer even mentioned. Percy said in the next week or so on the Steve Bloomer's Washing podcast. He also said Joinersgate really delayed a lot of things with the investment. Link to comment Share on other sites More sharing options...
Topram Posted January 16, 2020 Share Posted January 16, 2020 Definitely wasn’t as close as we thought Link to comment Share on other sites More sharing options...
Yani P Posted January 16, 2020 Share Posted January 16, 2020 It's a Bit like looking at a map of Canada.. Ottawa to Nova Scotia looks like a short drive but in reality.. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.