Derby County Administration (with the slight possibility of Liquidation still there)

[Bladderwrack]

4 minutes ago, Oldben said:

Any chance the administrators could force the sale of the stadium at a lower price.

Throw in the training ground at a lower price.

That might help sell the club.

Not sure that can happen, if Pride Park is owned by a company owned by Mel Morris then it belongs to him not Derby and so would not be part of what the Administrator can sell to raise funds. Morris can sell it to who he wants and the money would go to him. 

[jcidaho]

Morris owning the stadium still is nightmarish as it will drag everything on, as he looks to recoup from our only real asset.

[RoyMac5]

2 hours ago, AbuDerbyDave said:

Sorry Roy but at this time I don’t think that’s fair play 

Fair play from a F*rest coming on here telling us how Mel hasn't done the right thing without mentioning how he could easily compare it with his own club? Where was his fair play!?

[DCFC27]

2 hours ago, ariotofmyown said:

I'm really struggling to understand why we are going into admin.

We gambled too much on promotion and tried to find loopholes to escape the FFP rules. Whilst it was a stupid thing to do, it made some sort of sense. If/when it failed, it means points deductions and probable relegation. But it's not because the club ran out of money, it's because we spent more money than we were allowed.

How have we suddenly reached the point now where we don't have enough money for the club to continue functioning? Has Mel literally got no money left to keep the club going? If not, why has he now decided to stop funding the mess he created. Can't he just carry on paying the money until Jan, sell any high earners, sell the whole first team, and have a cheap team of kids? Or are most of the outgoings now just servicing debt with no end in sight? Just hope there is something else going on and this is necessary to push it through.

Mel just doesn’t want to carry on funding it. He’s still has his fortune but just doesn’t want to carry on funding. I’m not even sure he’s put in any significant amount of his own money. I think most of it has been borrowed or income into the clubs. The guys name should be mud. 

[Van der MoodHoover]

15 minutes ago, DCFC27 said:

Mel just doesn’t want to carry on funding it. He’s still has his fortune but just doesn’t want to carry on funding. I’m not even sure he’s put in any significant amount of his own money. I think most of it has been borrowed or income into the clubs. The guys name should be mud. 

Back in 2018 - 19 Frank Lampard was saying in det that Mel Morris had put in 150m but that books would have to be balanced from that point. 

Was that all nonsense? 

I sort of thought maybe it was only once income collapsed in covid that Mel started borrowing to finance the club but was it in fact earlier.... Perhaps from 2019?

 

[RammingStone66]

38 minutes ago, Van der MoodHoover said:

Back in 2018 - 19 Frank Lampard was saying in det that Mel Morris had put in 150m but that books would have to be balanced from that point. 

Was that all nonsense? 

I sort of thought maybe it was only once income collapsed in covid that Mel started borrowing to finance the club but was it in fact earlier.... Perhaps from 2019?

 

Didnt Mel borrow 80mil off Henry Gabay in 2018?

[Grumpy Git]

When a director puts funds into a company, they not only still own that amount, they charge the company interest on it.

Edited September 18, 2021 by Grumpy Git

[DCFC27]

1 hour ago, Van der MoodHoover said:

Back in 2018 - 19 Frank Lampard was saying in det that Mel Morris had put in 150m but that books would have to be balanced from that point. 

Was that all nonsense? 

I sort of thought maybe it was only once income collapsed in covid that Mel started borrowing to finance the club but was it in fact earlier.... Perhaps from 2019?

 

All egotistical claims by Mel. Doesn’t look like he’s spent a penny personally. Said he’s been loosing about £1m a month for 4/5 years and there’s at least £60m debts. You do the math… 

MSD leant the money before the pandemic. There seems to be various other charges on the club too not just MSD. Mel bought the club debt free. 

[DCFC27]

51 minutes ago, Grumpy Git said:

When a director puts funds into a company, they not only still own that amount, they charge the company interest on it.

They can gift it too. Mel just seems to have borrowed it 

[G STAR RAM]

15 minutes ago, DCFC27 said:

All egotistical claims by Mel. Doesn’t look like he’s spent a penny personally. Said he’s been loosing about £1m a month for 4/5 years and there’s at least £60m debts. You do the math… 

MSD leant the money before the pandemic. There seems to be various other charges on the club too not just MSD. Mel bought the club debt free. 

Factually incorrect. Do the research if you are going to try to convince people on the finances.

[G STAR RAM]

15 minutes ago, DCFC27 said:

They can gift it too. Mel just seems to have borrowed it 

Once again factually incorrect.

As at 30 June 2018, all funds MM had put into the club were via equity not debt.

[RoyMac5]

Interesting article:

https://www.football365.com/news/Derby-county-administration-failure-opinion

[Van der MoodHoover]

1 minute ago, G STAR RAM said:

Factually incorrect. Do the research if you are going to try to convince people on the finances.

Your knowledge and background is better than most. 

I had thought that Mel Morris was indeed about 150m out of pocket, less any sale proceeds which now look unlikely. 

This was sort of derived (mentally by me) from him supporting the maximum allowed loss for some years, plus initial purchase price, plus player write offs that hadn't yet come through the accounts. 

However, if a chunk of that is not Mels money but loans supported by charges I may be wide of the mark. 

Do you have a view? 

 

[kevinhectoring]

3 hours ago, Bladderwrack said:

Not sure that can happen, if Pride Park is owned by a company owned by Mel Morris then it belongs to him not Derby and so would not be part of what the Administrator can sell to raise funds. Morris can sell it to who he wants and the money would go to him. 

The administrator would be appointed over a raft of companies. If one is appointed, he will have control over the stadium owning company as well as the club   That’s because Dell has a charge over the stadium as well as the club 

[Barney1991]

John Perry’s article just says we owe 26 million to him revenue ?8 million in transfer fees and 5 million to cocu and staff. This isn’t including what we owe dell 

[G STAR RAM]

9 minutes ago, Van der MoodHoover said:

Your knowledge and background is better than most. 

I had thought that Mel Morris was indeed about 150m out of pocket, less any sale proceeds which now look unlikely. 

This was sort of derived (mentally by me) from him supporting the maximum allowed loss for some years, plus initial purchase price, plus player write offs that hadn't yet come through the accounts. 

However, if a chunk of that is not Mels money but loans supported by charges I may be wide of the mark. 

Do you have a view? 

 

Up to 30th June 2018, funds were put into the club via share purchases made by the parent company. 

MM had introduced funds into the parent company via loans but that is not debt in the football club.

[G STAR RAM]

1 hour ago, Grumpy Git said:

When a director puts funds into a company, they not only still own that amount, they charge the company interest on it.

If it is done as a loan, up until 30 June 2018 MM had not loaned any money to the club.

What has happened since that point is anyone's guess.

[TuffLuff]

9 minutes ago, Barney1991 said:

John Perry’s article just says we owe 26 million to him revenue ?8 million in transfer fees and 5 million to cocu and staff. This isn’t including what we owe dell 

Yeah I just read the article, maybe I’m not understanding how this all works on such a large scale but have we essentially not paid a tax bill since Morris has taken charge?

[Ruud Aralliss]

4 hours ago, Warwick Ram said:

Are people really going to keep defending Mel?

Not sure there are any people defending him. 

Edited September 18, 2021 by Ruud Aralliss

[Angry Ram]

4 hours ago, Spanish said:

It’s his stadium 

Semantics ??