Abu Derby County

[uttoxram75]

If there was any way on this earth they could make something stick to be able to punish us, they would have found it by now.

[Zurich Ram]

24 minutes ago, uttoxram75 said:

If there was any way on this earth they could make something stick to be able to punish us, they would have found it by now.

Nah, theyre waiting for their next set of instructions from Gibson

[kevinhectoring]

4 hours ago, Angry Ram said:

Nothing would surprise me but you would think that would have been a prerequisite for being on the panel. 

If you are an insomniac you should take a look at the judgement. 

The panel was 2 QCs and a senior forensic accountant. It's clear from the judgement they have expertise. What's quite funny is the EFL put forward an expert witness who is a learned professor of accounting and the panel absolutely ripped him to shreds.

The fact the accounts were audited does not exonerate the directors at all. The auditors are responsible for the audit. But the directors remain responsible for the accounts. Worryingly, the club's auditor admitted to the panel that the notes to the accounts were inadequate.

I got it slightly wrong - the EFL accused the club of breach of the companies act. But the panel very carefully avoided opining on this - it only found that the accounts failed to reflect the FRS. @Van der MoodHoover alluded to this point I think 

@Ghost of Cloughwrote an impressive forensic post about the effects of the amortisation policy and I think reckoned that a small fine was the most the club would suffer. I hope that's right but given that the EFL has us in its sights I remain uneasy. Also, I'm not sure the Sheikh would take the risk on all this which is why I suggested earlier (to the scorn and derision of some members !! ) that he might have spoken to the EFL about it.  Anyway, it will be very interesting to understand how it has all been addressed in the context of the takeover.  We may never know. 

Any experts out there who want to clear the fog?

[NottsRammy]

https://the72.co.uk/207523/major-update-in-Derby-county-takeover-saga/

[Van der MoodHoover]

5 hours ago, kevinhectoring said:

If you are an insomniac you should take a look at the judgement. 

The panel was 2 QCs and a senior forensic accountant. It's clear from the judgement they have expertise. What's quite funny is the EFL put forward an expert witness who is a learned professor of accounting and the panel absolutely ripped him to shreds.

The fact the accounts were audited does not exonerate the directors at all. The auditors are responsible for the audit. But the directors remain responsible for the accounts. Worryingly, the club's auditor admitted to the panel that the notes to the accounts were inadequate.

I got it slightly wrong - the EFL accused the club of breach of the companies act. But the panel very carefully avoided opining on this - it only found that the accounts failed to reflect the FRS. @Van der MoodHoover alluded to this point I think 

@Ghost of Cloughwrote an impressive forensic post about the effects of the amortisation policy and I think reckoned that a small fine was the most the club would suffer. I hope that's right but given that the EFL has us in its sights I remain uneasy. Also, I'm not sure the Sheikh would take the risk on all this which is why I suggested earlier (to the scorn and derision of some members !! ) that he might have spoken to the EFL about it.  Anyway, it will be very interesting to understand how it has all been addressed in the context of the takeover.  We may never know. 

Any experts out there who want to clear the fog?

Strictly l still am of the view that it is not in the gift of this panel to rule on the compliance or otherwise against FRS's. They surely could only offer an opinion. 

Only the FRC should be able to make that determination. 

If the clubs auditor is offering a view that the accounts were in some way deficient then he's putting himself at risk of being investigated by his regulator, the FRC. His re is to advise the Board on compliance. Either he isn't very good, or he gave proper advice which the Board ignored. 

[Reggie Greenwood]

1 hour ago, NottsRammy said:

https://the72.co.uk/207523/major-update-in-Derby-county-takeover-saga/

Old news the club statement came out after that. 

[mwram1973]

1 hour ago, NottsRammy said:

https://the72.co.uk/207523/major-update-in-Derby-county-takeover-saga/

thats right, a potential 60m deal scuppered by a 500k payment. Jesus wept

[kevinhectoring]

1 hour ago, Van der MoodHoover said:

Strictly l still am of the view that it is not in the gift of this panel to rule on the compliance or otherwise against FRS's. They surely could only offer an opinion. 

as you say it makes sense that the accounting body should have the ultimate say because it's an accounting matter. But the EFL rules say that if the EFL alleges that anyone has broken the rules,  then this is decided by an EFL disciplinary commission. So the rules say it's not the accounting body who makes the call, but it's the 'panel'. And we've signed up to the rules...

[NottsRammy]

10 hours ago, mwram1973 said:

thats right, a potential 60m deal scuppered by a 500k payment. Jesus wept

Im just putting on somethings thats come up on my mobile phone as a google link thats all . 

I know they have put this statement out but dont you find it odd that Sheik i own 69 camels etc etc hasnt paid that by now ? . 

I will believe our deal when it actually passes through and not until, its taken to long and there are alot of smoke and mirrors in this world and whats the betting its not done by christmas and another excuse comes out . 

The length of time this deal is taking which they have not gone into detail of explaining why, makes me very suspicious still as the statement wasnt very enlightening at all . 

Im getting a niggly feeling our Mel wants out and wants out that desp he will now sell it to anyone no matter what he says in public to save face , im not liking these new owners . Even if they takeover with how this has gone do you really think there will be a CONSTANT golden rainbow of cash available ???  , i dont think their that kind of Sheik. Part of me is havingthis gut feeling that this sheik is going to be like the american lot and not like the man city lot . 

Lets see im crossing my fingers we are all happy . 

 

[mwram1973]

32 minutes ago, NottsRammy said:

Im just putting on somethings thats come up on my mobile phone as a google link thats all . 

I know they have put this statement out but dont you find it odd that Sheik i own 69 camels etc etc hasnt paid that by now ? . 

I will believe our deal when it actually passes through and not until, its taken to long and there are alot of smoke and mirrors in this world and whats the betting its not done by christmas and another excuse comes out . 

The length of time this deal is taking which they have not gone into detail of explaining why, makes me very suspicious still as the statement wasnt very enlightening at all . 

Im getting a niggly feeling our Mel wants out and wants out that desp he will now sell it to anyone no matter what he says in public to save face , im not liking these new owners . Even if they takeover with how this has gone do you really think there will be a CONSTANT golden rainbow of cash available ???  , i dont think their that kind of Sheik. Part of me is havingthis gut feeling that this sheik is going to be like the american lot and not like the man city lot . 

Lets see im crossing my fingers we are all happy . 

 

My comment was aimed at the article and not at you for posting it. If he believes he's not responsible for the 500k fee then of course he's not going to pay it and a man of his wealth will just let it drag on and on as it has absolutely no effect on his wealth anyway.

From what i'm led to believe it was mike ashley that was the reason for the collapse of the deal because he kept wanting more just as the contracts were due to be signed.

So he's probably saying he's not responsible for the fee.

[MackworthRamIsGod]

37 minutes ago, NottsRammy said:

Im just putting on somethings thats come up on my mobile phone as a google link thats all . 

I know they have put this statement out but dont you find it odd that Sheik i own 69 camels etc etc hasnt paid that by now ? . 

I will believe our deal when it actually passes through and not until, its taken to long and there are alot of smoke and mirrors in this world and whats the betting its not done by christmas and another excuse comes out . 

The length of time this deal is taking which they have not gone into detail of explaining why, makes me very suspicious still as the statement wasnt very enlightening at all . 

Im getting a niggly feeling our Mel wants out and wants out that desp he will now sell it to anyone no matter what he says in public to save face , im not liking these new owners . Even if they takeover with how this has gone do you really think there will be a CONSTANT golden rainbow of cash available ???  , i dont think their that kind of Sheik. Part of me is havingthis gut feeling that this sheik is going to be like the american lot and not like the man city lot . 

Lets see im crossing my fingers we are all happy . 

 

Just my hunch but I think the unpaid legal bill is more innocent than being made out; and when I say more innocent, I mean on the part of BZG.

My first thoughts when I read the story was who instructed or recommended the lawyers?

If Mike Ashley had recommended them to BZG then I dont blame them 1 bit for challenging a 500k bill for a takeover that never materialised.

I dont think our Sheikh will be anywhere near the level of Man City, but he clearly has a bit of money, 500k will be peanuts to him and BZG, so it would be very easy to pay it and move on, unless there is good reason not to pay.  Mel will know all about the reasons why and if it doesnt stop him from doing a deal, all we can do is trust him.

[tomsdubs]

Does anyone else just feel so neutral over this takeover? I don't know if it'll be good or bad for us, I have zero expectation at this point. Almost not really bothered anymore.

[roboto]

I miss the panic from earlier in the week. Reading the dramatic responses from people made me feel alive.

[Mostyn6]

27 minutes ago, roboto said:

I miss the panic from earlier in the week. Reading the dramatic responses from people made me feel alive.

Start a rumour on Twitter. It’ll get back to here as truth within three hours. 

[Spanish]

3 hours ago, tomsdubs said:

Does anyone else just feel so neutral over this takeover? I don't know if it'll be good or bad for us, I have zero expectation at this point. Almost not really bothered anymore.

I am struggling to understand how this radically improves our financial clout given the restrictions are so much stronger in the championship than the EPL.  I don't think we are going anywhere with Mel at the helm so I really want to see a change but as they say 'careful what you wish for'.  So not so much neutral more ambivalent I suppose.

[Dimmu]

3 hours ago, tomsdubs said:

Does anyone else just feel so neutral over this takeover? I don't know if it'll be good or bad for us, I have zero expectation at this point. Almost not really bothered anymore.

Me but I'm bothered though. I know that I'm bit weird as I try not to judge anyone or their deeds without any knowledge. It's not the way world is running at the moment...

[i-Ram]

4 hours ago, NottsRammy said:

Im just putting on somethings thats come up on my mobile phone as a google link thats all . 

I know they have put this statement out but dont you find it odd that Sheik i own 69 camels etc etc hasnt paid that by now ? . 

I will believe our deal when it actually passes through and not until, its taken to long and there are alot of smoke and mirrors in this world and whats the betting its not done by christmas and another excuse comes out . 

The length of time this deal is taking which they have not gone into detail of explaining why, makes me very suspicious still as the statement wasnt very enlightening at all . 

Im getting a niggly feeling our Mel wants out and wants out that desp he will now sell it to anyone no matter what he says in public to save face , im not liking these new owners . Even if they takeover with how this has gone do you really think there will be a CONSTANT golden rainbow of cash available ???  , i dont think their that kind of Sheik. Part of me is havingthis gut feeling that this sheik is going to be like the american lot and not like the man city lot . 

Lets see im crossing my fingers we are all happy . 

Perhaps let’s wait and see shall we. You seem to be getting yourself terribly worked up about something that might or might not happen. Don’t cross your fingers too long. Might cut off your blood supply.

[tomsdubs]

46 minutes ago, Spanish said:

I am struggling to understand how this radically improves our financial clout given the restrictions are so much stronger in the championship than the EPL.  I don't think we are going anywhere with Mel at the helm so I really want to see a change but as they say 'careful what you wish for'.  So not so much neutral more ambivalent I suppose.

Yeah, either they aim to go mental for once season and just escape breaking the rules or we pretty stay spending as we are. How much can they really change?

[Ghost of Clough]

1 hour ago, Spanish said:

I am struggling to understand how this radically improves our financial clout given the restrictions are so much stronger in the championship than the EPL.  I don't think we are going anywhere with Mel at the helm so I really want to see a change but as they say 'careful what you wish for'.  So not so much neutral more ambivalent I suppose.

Maybe there is significant P&S room for extra spending now that our wage bill is under control, but Mel hasn't got the cash to fund it?

[Spanish]

11 minutes ago, Ghost of Clough said:

Maybe there is significant P&S room for extra spending now that our wage bill is under control, but Mel hasn't got the cash to fund it?

much depends on when we intend offload Tom, Dwayne and Marriott and whether we are going to spread the hit out over 2 seasons?  I suppose we could have used the stadium sale proceeds to cover this risk but I don't think we can check this?