El DerbyCo

[Millenniumram]

44 minutes ago, Derbados said:

Serious questions 

Gabay

Derventio holdings 

Alonso 

Is Mel honestly that incompetent? if he is that incompetent, who the duck is advising the bloke and why are they also that incompetent, I’ve never seen anything like it!

Get it wrong once, fair enough

Twice, then you’ve got to start asking yourself some serious questions

Three times, you deserve everything you get 

THE worst judge of character!

 

 

 

 

Blimey, have you only just worked out that Mel is incompetent?! We’ve had 6 years of evidence!

[Spanish]

6 minutes ago, IslandExile said:

But folks still knock Mel.

On overspending, I wonder how folks would've reacted had he not backed managers who wanted to make signings.

But he was a trusted pair of hands and I guess we both agree things do not look rosy. 

I think you may already know my views in that there was too much blue sky thinking, no safety net, poo or bust approach

[G STAR RAM]

16 minutes ago, duncanjwitham said:

I don't really understand it either.  From what I do understand, the stadium sale basically resulted in this (approx figures):

Derby sold a £40m asset for £80m.  Mel's other company is paying for this in instalments, so they owe DCFC a debt, not the other way around.  That generated £40m paper profits which covered FFP, but didn't really affect cash flow (because of the instalments).

Mel has been putting money in to cover running costs, and may have taken a loan out during the COVID closures. But I don't see where massive debts have come from.  Signings have been covered by other player sales.  And Mel has covered overspend in wages. So what else is there?

I would assume that if MM has had to keep pumping money in, he would have done this via the parent company and just reduced the debt owed. 

Maybe I have this wrong and he has relied on external funding more and only been transferring the £8m or £10m per season from the parent company.

 

[Derbados]

5 minutes ago, Millenniumram said:

Blimey, have you only just worked out that Mel is incompetent?! We’ve had 6 years of evidence!

Haha, no I agree you can take your pick of 6 years worth of ludicrous decision making 

Still baffles me that hes a self made multi millionaire 

[kevinhectoring]

18 minutes ago, G STAR RAM said:

But he had £80m (from the sale of the ground) to play with before putting any debt on the club.

Im really struggling to see how in 3 years we have burned through that £80m and loaded lots of debt on thr company too?

I think it’s this. The stadium co didn’t have £80m in cash, the sale just threw up an interco receivable.  Cash was then raised by Stadium co through loans, presumably to pay down the interco hence to fund cash losses at the club. At least one of the loans (MSD I think) was guaranteed by the club. So as well as taking on the liability under the lease, the club has guaranteed some of the debt raised to buy the stadium. 
If you look at the filings on the charges registers at companies house you can sort of see what went on, despite not having the accounts. I looked at them months ago and my recollection is hazy but I recall @CornwallRamwas on top of it. I do remember thinking the documents filed seemed intentionally opaque 

[Spanish]

1 minute ago, G STAR RAM said:

I would assume that if MM has had to keep pumping money in, he would have done this via the parent company and just reduced the debt owed. 

Maybe I have this wrong and he has relied on external funding more and only been transferring the £8m or £10m per season from the parent company.

 

maybe it is that, asset rich cash poor

[G STAR RAM]

7 minutes ago, Millenniumram said:

Blimey, have you only just worked out that Mel is incompetent?! We’ve had 6 years of evidence!

The first 4 where the vast majority seemed happy for him whilst we were challenging up around the top of the division if I recall correctly. 

There are only a handful of posters who stick out in the memory as being vocal against MM from the beginning @Angry Ram @iRam@mafiabob

[G STAR RAM]

2 minutes ago, kevinhectoring said:

I think it’s this. The stadium co didn’t have £80m in cash, the sale just threw up an interco receivable.  Cash was then raised by Stadium co through loans, presumably to pay down the interco hence to fund cash losses at the club. At least one of the loans (MSD I think) was guaranteed by the club. So as well as taking on the liability under the lease, the club has guaranteed some of the debt raised to buy the stadium. 
If you look at the filings on the charges registers at companies house you can sort of see what went on, despite not having the accounts. I looked at them months ago and my recollection is hazy but I recall @CornwallRamwas on top of it. I do remember thinking the documents filed seemed intentionally opaque 

Thats how I think it has transpired too.

Thats why I question the people that are saying that the club is loaded with debt and that is affecting the sale.

Surely any debt owed is matched with a debt due from the parent company if MM has relied on external loan funding for the club?

[Norman]

14 minutes ago, Derbados said:

Haha, no I agree you can take your pick of 6 years worth of ludicrous decision making 

Still baffles me that hes a self made multi millionaire 

Risk-taker. That's why none of us are as rich as he is. Have any of us took the necessary risks to get there. 

Let's be honest, if we had won the playoffs he would be the owner of a football club that had a seat in the richest league in the world. Burnley have had a 200 million takeover. 

Edited May 11, 2021 by Norman

[Ramarena]

Didn’t Saint Simon Jordan say Alonso was a kosher guy??????????

Surely he wasn’t wrong........surely!

[TheresOnlyWanChope]

Just now, Ramarena said:

Didn’t Saint Simon Jordan say Alonso was a kosher guy??????????

Surely he wasn’t wrong........surely!

Alonso as kosher as a pork chop 

[Derbados]

5 minutes ago, Norman said:

Risk-taker. That's why none of us are as rich as he is. Have any of us took the necessary risks to get there. 

Let's be honest, if we had won the playoffs he would be the owner of a football club that had a seat in the richest league in the world. Burnley have had a 200 million takeover. 

I honestly think if we’d have been promoted, we’d still be where we are now because the recruitment would have been utterly atrocious. 

[Ambitious]

31 minutes ago, Rammy03 said:

I've criticised Mel a lot for the mistakes I think he has made over the years and how it has led to where we are now. But I know that he cares about the football club. I know he will never sell to this Erik Alonso. Prove me right Mel.

Sadly, he's already agreed to sell the club to him. It's the EFL we (as fans) have to thank, ironically, for doing their due diligence. At least, right before they slap us with a point deduction anyway. 

[Anag Ram]

Just now, Ambitious said:

Sadly, he's already agreed to sell the club to him. It's the EFL we (as fans) have to thank, ironically, for doing their due diligence. At least, right before they slap us with a point deduction anyway. 

Imagine if we're on here in 12 months' time revelling in our promotion to the Premier league under the skilful guidance of master tactician and man manager Wayne Rooney, using the millions invested by millionaire philanthropist and Freeman of the city of Derby, Erik Alonso! 

How we will laugh at our folly. 

?

[Ramarena]

9 minutes ago, TheresOnlyWanChope said:

Alonso as kosher as a pork chop 

I think we need to Passover him!

[Mostyn6]

37 minutes ago, Millenniumram said:

Blimey, have you only just worked out that Mel is incompetent?! We’ve had 6 years of evidence!

 

29 minutes ago, Derbados said:

Haha, no I agree you can take your pick of 6 years worth of ludicrous decision making 

Still baffles me that hes a self made multi millionaire 

Genuine question, would you rather not have had what we’ve experienced in the last six years? Yes the last 12-15 months have been dreadful. But surely before that was a rollercoaster. 
 

Before the half season in 2014, it was frightfully boring. Attendances down. Football turgid. Literally nothing except an occasional win V Forest or Leeds to enjoy. 

[kevinhectoring]

20 minutes ago, G STAR RAM said:

Thats how I think it has transpired too.

Thats why I question the people that are saying that the club is loaded with debt and that is affecting the sale.

Surely any debt owed is matched with a debt due from the parent company if MM has relied on external loan funding for the club?

Still think the debt’s a red herring in the context of a sale. Indeed Alonso has said he could load more on. If the buyer thinks there’s too much the question is,  does the buyer or seller pay it down, ie it’s effectively factored into the price

[G STAR RAM]

4 minutes ago, kevinhectoring said:

Still think the debt’s a red herring in the context of a sale. Indeed Alonso has said he could load more on. If the buyer thinks there’s too much the question is,  does the buyer or seller pay it down, ie it’s effectively factored into the price

Agreed

[DarkFruitsRam7]

10 minutes ago, kevinhectoring said:

Still think the debt’s a red herring in the context of a sale. Indeed Alonso has said he could load more on. If the buyer thinks there’s too much the question is,  does the buyer or seller pay it down, ie it’s effectively factored into the price

Surely if the proposed deal between Morris and Alonso was £5 million then the debt has been factored into that.

Edited May 11, 2021 by DarkFruitsRam7

[DanS1992]

52 minutes ago, Rammy03 said:

I've criticised Mel a lot for the mistakes I think he has made over the years and how it has led to where we are now. But I know that he cares about the football club. I know he will never sell to this Erik Alonso. Prove me right Mel.

Well the club released a statement regarding the takeover by Alonso that terms had been agreed upon. Sounds like he agreed to sell for me.