Stedcfc Posted December 31, 2020 Share Posted December 31, 2020 2 hours ago, JuanFloEvraTheCocu'sNesta said: If we can't pay the players due to the takeover then the window being open is presumably irrelevant. If the takeover doesn't go through we won't be signing anyone. That isn’t the case, it will all be an issue of timing. Mel won’t have suddenly run out of money. A price will have been agreed for the purchase of Derby that will be based on the cash in the bank and assets of the company at a point in time (probably assumed to be pre-wages) and therefore if the deal is post wages the valuation and price paid will more than likely change. If the deal is very close and should go through any moment they have probably delayed the wages so as not to have to change the business valuation and re-work all the legal paperwork. More concerning is the fact that the new owners money hasn’t turned up at the time it was promised. Link to comment Share on other sites More sharing options...
superzak Posted December 31, 2020 Share Posted December 31, 2020 I'm sure the poor playing staff on their thousands a week will cope for a month. Link to comment Share on other sites More sharing options...
Gritstone Ram Posted December 31, 2020 Share Posted December 31, 2020 I’m so concerned could someone let me know when they get their next £20k + for the month while I live off peanuts. Link to comment Share on other sites More sharing options...
JuanFloEvraTheCocu'sNesta Posted December 31, 2020 Share Posted December 31, 2020 23 minutes ago, Stedcfc said: That isn’t the case, it will all be an issue of timing. Mel won’t have suddenly run out of money. A price will have been agreed for the purchase of Derby that will be based on the cash in the bank and assets of the company at a point in time (probably assumed to be pre-wages) and therefore if the deal is post wages the valuation and price paid will more than likely change. If the deal is very close and should go through any moment they have probably delayed the wages so as not to have to change the business valuation and re-work all the legal paperwork. More concerning is the fact that the new owners money hasn’t turned up at the time it was promised. I agree its concerning, but the staff have contracts that state they will be paid on a certain day of the month. Whoever is legally in control of the club has a responsibility to adhere to that contract. If that is currently Mel then it's his responsibilty, it's his problem. Not the players, not the coaches, not the staff, not the new owners. Mel. The fact some prospective buyers haven't come up with the cash is totally irrelevant. They have contracts, the club should stick to them. Link to comment Share on other sites More sharing options...
JuanFloEvraTheCocu'sNesta Posted December 31, 2020 Share Posted December 31, 2020 18 minutes ago, superzak said: I'm sure the poor playing staff on their thousands a week will cope for a month. It's a matter of principle, not need. The club offers contracts which dictate payment terms and dates. I expect the club to stick to them. Link to comment Share on other sites More sharing options...
Tyler Durden Posted December 31, 2020 Share Posted December 31, 2020 23 minutes ago, superzak said: I'm sure the poor playing staff on their thousands a week will cope for a month. That's not the point as I said earlier. It doesn't matter if the employees are on minimum wage or 200 grand a week, the simple fact of the matter is that Derby County as an employer has breached all of their players contracts by not paying them on time which is disgraceful for any business. Link to comment Share on other sites More sharing options...
rammieib Posted December 31, 2020 Share Posted December 31, 2020 56 minutes ago, SillyBilly said: I own 4 companies, not a deal on this scale but I've led multi-7 figure acquisitions before. I had my solicitors e-mailing me today to confirm (on new year's eve) management board minutes in order to process dividend in specie transactions on intercompany debt . I told them we had had the meetings (keeps them happy so that transactions don't get incurred in a new financial year). In reality they know and I know the meetings haven't taken place and we will backdate all of the paperwork when I get back on the 4th Jan. This is the reality of business over the Christmas and new year period, very few people are working and those that are will struggle to get much done. Closing a deal at this time is about as silly as it gets but it is what it is. This is unprofessional and wrong but I can understand it. I think the more common sense folk in here who understand the complexities of business dealing are most frustrated by the ‘it’s nearly done line’ which has been spun out by the club, by people attached to the club and by the media multiple times since October. Then for two and a half months to go by (We know when Derventio was set up and we also know when the two directors resigned which some may have taken as their work was done) with nothing is frustrating. Then we find our players are not paid on time for the second time this year with the takeover being blamed for this. It doesn’t put us in a good light. I get what you’re saying - this time of year is a nightmare. I broke up on the 17th December but had to work on the 22nd to sign contracts that would have allowed us to process EU orders from the 1st Jan. If I hadn’t have done that my company would be going back on Monday without being able to ship to 65% of our customers and that would have been on my head. It’s probably the failure to have got the takeover over the line before Christmas which has led to this but it’s just not very professional. Link to comment Share on other sites More sharing options...
rammieib Posted December 31, 2020 Share Posted December 31, 2020 32 minutes ago, superzak said: I'm sure the poor playing staff on their thousands a week will cope for a month. Would you want to work for an employer who has twice this year failed to pay you on time? Link to comment Share on other sites More sharing options...
Will Hughes Hair Posted December 31, 2020 Share Posted December 31, 2020 1 minute ago, Tyler Durden said: That's not the point as I said earlier. It doesn't matter if the employees are on minimum wage or 200 grand a week, the simple fact of the matter is that Derby County as an employer has breached all of their players contracts by not paying them on time which is disgraceful for any business. Even when that business has lost 30-40% of their revenue in the past 9 months? And also hasn’t had many options to reduce costs? These are strange times, so it might be an idea for us all to cut people some slack rather than automatically go for the jugular? Link to comment Share on other sites More sharing options...
Tyler Durden Posted December 31, 2020 Share Posted December 31, 2020 2 minutes ago, Will Hughes Hair said: Even when that business has lost 30-40% of their revenue in the past 9 months? And also hasn’t had many options to reduce costs? These are strange times, so it might be an idea for us all to cut people some slack rather than automatically go for the jugular? You're trying to mitigate what's happened, not going to knock you for that. Yes there might be underlying reasons but it still reflects poorly on the club to not be able to honour their contractual obligations whatever the mitigation might be. Link to comment Share on other sites More sharing options...
Mick Brolly Posted December 31, 2020 Share Posted December 31, 2020 Surely they just need to be patient like so many of us had to be for season ticket refunds , maybe they could choose a different option like free rams TV. Link to comment Share on other sites More sharing options...
Will Hughes Hair Posted December 31, 2020 Share Posted December 31, 2020 3 minutes ago, Mick Brolly said: Surely they just need to be patient like so many of us had to be for season ticket refunds , maybe they could choose a different option like free rams TV. A very late entry for post of the year. Link to comment Share on other sites More sharing options...
The Scarlet Pimpernel Posted December 31, 2020 Share Posted December 31, 2020 This to me sounds like Mel playing his final card in getting this deal completed. He has basically told us all that the new people are to blame and at the same time had highlighted to them the effect of broken promises. In other words pay up risk alianating yourselves before you start. Link to comment Share on other sites More sharing options...
Rampage Posted December 31, 2020 Share Posted December 31, 2020 1 hour ago, Pearl Ram said: I’m not overly bothered about all this, if it happens, it happens, if it doesn’t, it doesn’t. Not much I can do about it personally but that written, they seemed to get their takeover sorted at Burnley during the Christmas/New Year period easily enough, just sayin’. Most Rams fans just want a team that plays exciting football and wins a lot of games. We may be close to that. Link to comment Share on other sites More sharing options...
ck- Posted December 31, 2020 Share Posted December 31, 2020 43 minutes ago, The Scarlet Pimpernel said: This to me sounds like Mel playing his final card in getting this deal completed. He has basically told us all that the new people are to blame and at the same time had highlighted to them the effect of broken promises. In other words pay up risk alianating yourselves before you start. You own a business, you’re responsible for paying people. I don’t think our players have quite the same mortgage paying challenges as most people, but that’s not the point. Until the deal is 100% completed, it could fall through. The responsibility for salaries lies with the incumbent. If the timelines have been messed up, well that’s a shame and you might have to renegotiate some transition payments, but that’s irrelevant - payment responsibility is with the incumbent. Link to comment Share on other sites More sharing options...
Charlie George Posted December 31, 2020 Share Posted December 31, 2020 1 hour ago, Mick Brolly said: Surely they just need to be patient like so many of us had to be for season ticket refunds , maybe they could choose a different option like free rams TV. And as we enter a new year still I await my refund. What a way to run a club. Link to comment Share on other sites More sharing options...
ck- Posted December 31, 2020 Share Posted December 31, 2020 I really don’t understand people’s annoyance with the POTENTIAL new owners here. They may or may not be great owners. They may turn out to be a disaster - but they’ve been chosen by Mr Morris, don’t forget that. But right now, they don’t own the club. Possibly there are agreements in place that say they’ve agreed to make payments in advance of the takeover. But if they haven’t, the responsibility lies with the current owners: if such a deal has been negotiated, it’s their responsibility to make sure it’s followed through. Link to comment Share on other sites More sharing options...
The Scarlet Pimpernel Posted December 31, 2020 Share Posted December 31, 2020 5 minutes ago, ck- said: You own a business, you’re responsible for paying people. I don’t think our players have quite the same mortgage paying challenges as most people, but that’s not the point. Until the deal is 100% completed, it could fall through. The responsibility for salaries lies with the incumbent. If the timelines have been messed up, well that’s a shame and you might have to renegotiate some transition payments, but that’s irrelevant - payment responsibility is with the incumbent. I agree. The deadline should never be payday. Very unprofessional as I said in a previous post. Link to comment Share on other sites More sharing options...
jono Posted December 31, 2020 Share Posted December 31, 2020 1 hour ago, JuanFloEvraTheCocu'sNesta said: It's a matter of principle, not need. The club offers contracts which dictate payment terms and dates. I expect the club to stick to them. All true, all correct and fundamentally I agree. But sometimes you get a puncture or there’s a shunt in front of you at Marketon island. Stuff does happen. You can’t prepare for everything; otherwise nothing ever gets done. It will get fixed. (but yes .. the wage bill is an elephant in the room in champ clubs - it is surprising that as an eventuality it wasn’t covered. ) Link to comment Share on other sites More sharing options...
ck- Posted December 31, 2020 Share Posted December 31, 2020 9 minutes ago, jono said: All true, all correct and fundamentally I agree. But sometimes you get a puncture or there’s a shunt in front of you at Marketon island. Stuff does happen. You can’t prepare for everything; otherwise nothing ever gets done. It will get fixed. (but yes .. the wage bill is an elephant in the room in champ clubs - it is surprising that as an eventuality it wasn’t covered. ) Agree to sell your car. Get a puncture or a shunt at Markeaton Island before the sale is completed, who do you expect to pay? Link to comment Share on other sites More sharing options...
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