Abu Derby County

[Carnero]

8 hours ago, CornwallRam said:

Some odd and barely comprehensible stuff on Twitter about the takeover being held by the ownership of PPS. Supposedly, Mel borrowed the money off Gabay to buy it and used it as security for the MSD loan. Gabay effectively gone bust but his charge is an asset in his insolvency.  Very odd hints that BZI could even be involved in that insolvency. 

Probably all just rubbish. Let's see if anything comes out over the next few days.

Muted the guy when he confused Sheikh Khalifa with Sheikh Khaled.

[kevinhectoring]

8 hours ago, CornwallRam said:

Some odd and barely comprehensible stuff on Twitter about the takeover being held by the ownership of PPS. Supposedly, Mel borrowed the money off Gabay to buy it and used it as security for the MSD loan. Gabay effectively gone bust but his charge is an asset in his insolvency.  Very odd hints that BZI could even be involved in that insolvency. 

Probably all just rubbish. Let's see if anything comes out over the next few days.

Couldn’t see this on Twitter. But I think Dell and Gabay both have charges over the stadium. So depending on what’s been agreed the BZI deal might require a consent from the liquidator. 
If this is what’s holding it up it sounds like a rooster up by the advisers. Not least because the club told us closing conditions were cleared

[derby8]

Judging by the incoming loans yesterday perhaps any takeover deals are dependent on staying in the championship, the sale price would in any event vary according to which division Derby in.

[Chester40]

If you strip away all the rumour and despondency, what is the actual declared situation with the takeover?

Is the official line still that it is 'on and is just taking time' ? Or have we moved to 'its hopefully on, but if not we are looking into other options' or have we gone as far as 'it doesn't look like it will happen so while never say never, we are actively planning without it?  

 

[CornwallRam]

43 minutes ago, kevinhectoring said:

Couldn’t see this on Twitter. But I think Dell and Gabay both have charges over the stadium. So depending on what’s been agreed the BZI deal might require a consent from the liquidator. 
If this is what’s holding it up it sounds like a rooster up by the advisers. Not least because the club told us closing conditions were cleared

That's the bit that doesn't really make sense. The only thing that I can possibly imagine if the purchase of the ground and the club are two different transactions. Everything was sorted for the takeover of the club, but BZI decided that the ground purchase was getting overly complicated and paused the main takeover until it was sorted.

I still think the idea of the main backer pulling out is a far more likely scenario though - they must have shown proof of funds to Mel and the EFL at some point.

[ramsbottom]

[gccrowdpleaser]

Careful what we wish for in terms of takeover. Many use the Burnley takeover as a stick to beat Derby with. The article from the Guardian makes grim reading. Including some shade thrown at MSD and their astounding interest rates.

https://www.theguardian.com/football/2021/feb/02/burnley-us-takeover-has-left-club-90m-worse-off-and-loaded-with-debt

[one_chop]

Those clinging onto hope that the takeover will be announced once the transfer window closes are going to be very disappointed in the next day or two when total radio silence continues to flow out of DCFC. 

[kevinhectoring]

30 minutes ago, gccrowdpleaser said:

Careful what we wish for in terms of takeover. Many use the Burnley takeover as a stick to beat Derby with. The article from the Guardian makes grim reading. Including some shade thrown at MSD and their astounding interest rates.

https://www.theguardian.com/football/2021/feb/02/burnley-us-takeover-has-left-club-90m-worse-off-and-loaded-with-debt

Our case may be even worse than Burnley. If Dell’s loan ranks behind the Gabay loan the rate could be eyewatering.
 

Trying to make sense of the Twitter comments perhaps they are saying: BZI doesn’t now have enough capital to pay off all the loan at closing. They want to pay off Dell because the rate is so high but leave Gabay in place. But they can’t do that without getting Gabay’s consent. And the liquidator won’t give that consent because he wants cash so he wants to force repayment of the Gabay loan
 

[roboto]

9 minutes ago, one_chop said:

Those clinging onto hope that the takeover will be announced once the transfer window closes are going to be very disappointed in the next day or two when total radio silence continues to flow out of DCFC. 

Radio silence from you would be much more welcome ? 

 

 

 

 

 

 

 

 

Just kidding with you though, please don't react badly to that. It's just boring to hear the same old each day from the same posters. Those of us that are/were a bit more hopeful early on are bored of the consistent negativity. It doesn't help anyone.

Until there is some more official/leaked news from a trustworthy reporter (rare these days) or the club, I think we should all just chill, enjoy the results of a pretty decent looking transfer window and support the lads as they climb up the table. The financial issues from the last month seem to have lessened, probably not quite disappeared, so it means some things have changed behind the scenes.

Lets keep this thread clear for news about it happening/not happening... or just go crazy with puns, gifs and funny videos.

[derby8]

37 minutes ago, gccrowdpleaser said:

Careful what we wish for in terms of takeover. Many use the Burnley takeover as a stick to beat Derby with. The article from the Guardian makes grim reading. Including some shade thrown at MSD and their astounding interest rates.

https://www.theguardian.com/football/2021/feb/02/burnley-us-takeover-has-left-club-90m-worse-off-and-loaded-with-debt

This leveraged buy-out of Burnley looks grim as you say, can't see the growth potential in the club, they are out performing now I would say.

[derby8]

11 minutes ago, kevinhectoring said:

Our case may be even worse than Burnley. If Dell’s loan ranks behind the Gabay loan the rate could be eyewatering.
 

Trying to make sense of the Twitter comments perhaps they are saying: BZI doesn’t now have enough capital to pay off all the loan at closing. They want to pay off Dell because the rate is so high but leave Gabay in place. But they can’t do that without getting Gabay’s consent. And the liquidator won’t give that consent because he wants cash so he wants to force repayment of the Gabay loan
 

Administration would be a bad move in many respects. The one upside is the administrator usually sets out a sort of true and fair view of the financial position in a clear way. You find out what's going on. Albeit a little late in the day.

[Nookiebear1]

10 minutes ago, roboto said:

Radio silence from you would be much more welcome ? 

 

 

 

 

 

 

 

 

Just kidding with you though, please don't react badly to that. It's just boring to hear the same old each day from the same posters. Those of us that are/were a bit more hopeful early on are bored of the consistent negativity. It doesn't help anyone.

Until there is some more official/leaked news from a trustworthy reporter (rare these days) or the club, I think we should all just chill, enjoy the results of a pretty decent looking transfer window and support the lads as they climb up the table. The financial issues from the last month seem to have lessened, probably not quite disappeared, so it means some things have changed behind the scenes.

Lets keep this thread clear for news about it happening/not happening... or just go crazy with puns, gifs and funny videos.

Just ignore the comments if you find them boring. I thought this thread was all about the take over/non take over. 

If we were only allowed to comment when some official news came out it would be a really short thread and nobody couldve commented since xmas. 

Personally i dont think its going to happen but its interesting to keep scanning thru this thread to see whats being said and some of the wild rumours and i can look and make my own mind up what i believe ?

[kevinhectoring]

34 minutes ago, derby8 said:

Administration would be a bad move in many respects. The one upside is the administrator usually sets out a sort of true and fair view of the financial position in a clear way. You find out what's going on. Albeit a little late in the day.

I think MM and the club know exactly what the financial position is and it ain’t pretty. Administration would just send 75 k a week to PwC or whoever. And have other bad consequences.  

I guess he put the Dell loan in place as a short term measure when he thought the sale would go through quickly

[derby8]

1 minute ago, kevinhectoring said:

I think MM and the club know exactly what the financial position is and it ain’t pretty. Administration would just send 75 k a week to PwC or whoever. And have other bad consequences.  

I guess he put the Dell loan in place as a short term measure when he thought the sale would go through. 

Agree. Was thinking of the rest of us. You're right about avoiding administration. One day a story will come out, bit by bit, like the Burnley one that's been emerging in the last few weeks.

[Premier ram]

Anything new on the takeover ?

[Rampage]

22 hours ago, Rab a dab doo said:

For just ONE day most of us are not particularly bothered, we have other MORE exciting things to think about.

Exactly my view.

[strawhillram]

Not interested in this particular fake over anymore

let’s see if Mel continues or can find alternative real investors. 

[Rampage]

22 hours ago, Rab a dab doo said:

For just ONE day most of us are not particularly bothered, we have other MORE exciting things to think about.

I agree. Seems to me that the takeover is neither on nor off. It is just caught in legal wranglings that neither the Sheikh nor Mel can solve  or make public comments about for legal reasons. Complaining about Mel, who wants to solve this more than anyone on the forum is pointless. It could drag on for ages yet.

[swanny]

8 hours ago, kevinhectoring said:

Couldn’t see this on Twitter. But I think Dell and Gabay both have charges over the stadium. So depending on what’s been agreed the BZI deal might require a consent from the liquidator. 
If this is what’s holding it up it sounds like a rooster up by the advisers. Not least because the club told us closing conditions were cleared

I dont think 9.14% is exceptionally high for corporate finance of this kind. just been sent an email by a mate who works in equity finance and standard commercial rates are routinely up to 10%. this is higher than banks, because banks wont make those loans due to the exposure and the risk.