G STAR RAM Posted August 12, 2020 Share Posted August 12, 2020 28 minutes ago, WystonRam said: Anyone know how we can secure a £30m loan against a stadium we don’t own ? The loan will be secured against the lease on the ground. Link to comment Share on other sites More sharing options...
G STAR RAM Posted August 12, 2020 Share Posted August 12, 2020 12 hours ago, RamsFan10 said: At what point do we start to look at Mel and the decision makers at the club? In the last few pages of this thread I haven’t seen an ounce of criticism, even though this whole situation seems to have been unavoidable. I guess it depends on the outcome, but in future I hope Mel has learned to avoid financial loop holes and to simply spend within our means. As for the loan, hopefully that is the new investment in the club that we’ve all been promised, although it is quite hard to tell without the details of the loan. What do you want us to criticise MM for out of interest? Investing around £100m of his own cash in DCFC, whilst operating within the financial constraints imposed by the EFL, which appear to have retrospectively been amended? No loop holes, or nothing, he has acted within the rules that were in place at the time. What do you mean by spend within our means? How many teams within our league meet this criteria? I am ready to criticise him though if he has promised is investment in the club and it has not materialised. Can you link me to some articles where he made this promise please? Link to comment Share on other sites More sharing options...
jono Posted August 12, 2020 Share Posted August 12, 2020 50 minutes ago, rammieib said: But football clubs are toys of leisure for rich people who make their money in proper businesses. A football club to a rich man is like a play station to a kid. True in various degrees but you know, some kids look after their play stations and some don’t and if you break your play station it is not necessarily going to mean. Mummy will buy you a new one And anyway you’ll probably want an Xbox by then. Or if you are the kid with a bank account and you bought the play station, then it’s yours to do with as you please. ? Tough luck on the Temporary losers but if the mechanisms are in place to preserve the name of the club name, it’s artefacts and records then where is the problem. ? Just a blip in history Link to comment Share on other sites More sharing options...
WystonRam Posted August 13, 2020 Share Posted August 13, 2020 7 hours ago, Spanish said: The stadium isn’t part of the land secured again at the loan BBC statement isn’t correct then i guess ? https://www.bbc.co.uk/sport/football/53751251 Link to comment Share on other sites More sharing options...
G STAR RAM Posted August 13, 2020 Share Posted August 13, 2020 1 hour ago, WystonRam said: BBC statement isn’t correct then i guess ? https://www.bbc.co.uk/sport/football/53751251 Yes. Derby County are not in a position to grant Pride Park Stadium as security. Hence why they have granted the lease as security. Link to comment Share on other sites More sharing options...
Day Posted August 13, 2020 Share Posted August 13, 2020 Less than a month until the football starts again Link to comment Share on other sites More sharing options...
Boycie Posted August 13, 2020 Share Posted August 13, 2020 3 hours ago, G STAR RAM said: Yes. Derby County are not in a position to grant Pride Park Stadium as security. Hence why they have granted the lease as security. If we default, Mel, as Landord will invoke his hidden sub clause that invalided the lease if it’s transferred to a third party. Therefore he still owns the ground and we go again ? Steve Gibson is going to explode. Link to comment Share on other sites More sharing options...
AndyinLiverpool Posted August 13, 2020 Share Posted August 13, 2020 42 minutes ago, David said: Less than a month until the football starts again Nice try at a change of subject Link to comment Share on other sites More sharing options...
G STAR RAM Posted August 13, 2020 Share Posted August 13, 2020 44 minutes ago, David said: Less than a month until the football starts again If we still have a club. In the last 24 hours I've learned that the club owe £150m to MM, £80m to Gabay and now £30m to MSD. And we've remortgaged the ground to the devil. Unfortunately I can't tell you my source but it's all true. Link to comment Share on other sites More sharing options...
JuanFloEvraTheCocu'sNesta Posted August 13, 2020 Share Posted August 13, 2020 6 minutes ago, G STAR RAM said: If we still have a club. In the last 24 hours I've learned that the club owe £150m to MM, £80m to Gabay and now £30m to MSD. And we've remortgaged the ground to the devil. Unfortunately I can't tell you my source but it's all true. Don't forget the £7.4 billion fine and 43 point deduction incoming from the EFL. Link to comment Share on other sites More sharing options...
Stive Pesley Posted August 13, 2020 Share Posted August 13, 2020 12 hours ago, G STAR RAM said: The loan will be secured against the lease on the ground. Trying to get my head around this. So Mel sold himself the freehold on the ground (the price of which is the subject of the EFL charge) And now Mel leases it back to the club to use as their stadium This £30m is secured against the club's lease? How does that work then, if the club defaults on the loan then MSD owns the lease Have they got a football team? Link to comment Share on other sites More sharing options...
G STAR RAM Posted August 13, 2020 Share Posted August 13, 2020 6 minutes ago, JuanFloEvraTheCocu'sNesta said: Don't forget the £7.4 billion fine and 43 point deduction incoming from the EFL. We already got a dodgy loan to clear the fine though. Also heard that MM only sold the ground as he has a plan to buy some points off Charlton to stop them going into administration. Just hoping that I dont get a ban for divulging this information. Link to comment Share on other sites More sharing options...
Day Posted August 13, 2020 Share Posted August 13, 2020 23 minutes ago, AndyinLiverpool said: Nice try at a change of subject This topic has changed subject more times than I’ve changed my underwear this month. Link to comment Share on other sites More sharing options...
CornwallRam Posted August 13, 2020 Share Posted August 13, 2020 3 hours ago, G STAR RAM said: Yes. Derby County are not in a position to grant Pride Park Stadium as security. Hence why they have granted the lease as security. The loan guarantees are not all secured against assets of one company. Several companies featuring Mel Morris as director appear in the charge document. One is Stadia DCFC Ltd. Is it possible that is the company that owns the stadium? If so, Mel has put the ground up as security. Link to comment Share on other sites More sharing options...
G STAR RAM Posted August 13, 2020 Share Posted August 13, 2020 1 minute ago, SchtivePesley said: Trying to get my head around this. So Mel sold himself the freehold on the ground (the price of which is the subject of the EFL charge) And now Mel leases it back to the club to use as their stadium This £30m is secured against the club's lease? How does that work then, if the club defaults on the loan then MSD owns the lease Have they got a football team? Yeah in basic terms. Re having a football team it could be irrelevant depending what is in the lease. Hope there are restrictive covenants in it but could be the case that under the terms of the lease they could knock the ground down and build a shopping centre there. Link to comment Share on other sites More sharing options...
G STAR RAM Posted August 13, 2020 Share Posted August 13, 2020 Just now, CornwallRam said: The loan guarantees are not all secured against assets of one company. Several companies featuring Mel Morris as director appear in the charge document. One is Stadia DCFC Ltd. Is it possible that is the company that owns the stadium? If so, Mel has put the ground up as security. I'm away at the moment so not had chance to look at the Companies House documents. Was just going off what someone on here said that charge was registered in The Derby County Football Club Limited. The club could only grant security of the lease, not the freehold. Link to comment Share on other sites More sharing options...
RamsFan10 Posted August 13, 2020 Share Posted August 13, 2020 12 hours ago, G STAR RAM said: What do you want us to criticise MM for out of interest? Investing around £100m of his own cash in DCFC, whilst operating within the financial constraints imposed by the EFL, which appear to have retrospectively been amended? No loop holes, or nothing, he has acted within the rules that were in place at the time. What do you mean by spend within our means? How many teams within our league meet this criteria? I am ready to criticise him though if he has promised is investment in the club and it has not materialised. Can you link me to some articles where he made this promise please? If we acted within the rules at the time then we won't get a penalty. Hence i said that it depends on the outcome. The stadium sales are clearly loopholes, which the league now appear to be tightening. And there is also the amortisation charge. The majority of clubs in this league have managed to spend without having to sell a stadium to themselves. Albeit some have parachute payments, but other don't, and others generate less revenue than we do. And no I won't link any articles, why would I link articles to a point that I never made?? The key thing I said was it depends on the outcome - if an independent panel finds us innocent then clearly we haven't done anything wrong. If they find us guilty, clearly we have. Its that simple, you'd have to be pretty deluded to believe a few club statements over the result of a lengthy legal proceeding and an independent panel's decision. Link to comment Share on other sites More sharing options...
jono Posted August 13, 2020 Share Posted August 13, 2020 So, in summary, Mel Morris is deeply in debt .. to Mel Morris. In a devious financial wheez, He has just moved the money from his piggy bank in the bedroom to the the glass jar on the hall table. Meanwhile some Del Boy has given him some cash so he doesn’t have to go to the coin star machine in Sainsbury’s, which isn’t working because of COVID. ....but Mel says he can dig a handful of 2p pieces in the coin jar if Mel doesn’t pay him back. Sorted Link to comment Share on other sites More sharing options...
AndyinLiverpool Posted August 13, 2020 Share Posted August 13, 2020 21 minutes ago, David said: This topic has changed subject more times than I’ve changed my underwear this month. Twice then? Link to comment Share on other sites More sharing options...
Carnero Posted August 13, 2020 Share Posted August 13, 2020 22 minutes ago, CornwallRam said: The loan guarantees are not all secured against assets of one company. Several companies featuring Mel Morris as director appear in the charge document. One is Stadia DCFC Ltd. Is it possible that is the company that owns the stadium? If so, Mel has put the ground up as security. Essentially it looks that the football club has a loan of £30m which has been secured against the personal (DCFC related) assets of the football club's owner, including his various other DCFC companies. Link to comment Share on other sites More sharing options...
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