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

[Oldben]

41 minutes ago, Sparkle said:

They can refuse to be sold 

With the club in its current state would you refuse to move to a more stable environment, where your guaranteed to be paid

[geordieram 38]

What happens to the ownership of Pride Park? Sorry if this question has been answered haven't had time to keep up  

[Ambitious]

6 minutes ago, geordieram 38 said:

What happens to the ownership of Pride Park? Sorry if this question has been answered haven't had time to keep up  

Mel keeps is a nice little present. 

[atherstoneram]

With this intricate web of companies that MM has weaved that means the cost of the administrators rises as they untangle them. I just hope as they untangle them that nothing more comes out of the woodwork

[Ramarena]

15 minutes ago, brady1993 said:

Oh if we hit January and are still in adminstration we are dead in the water, not only as a championship club but it becomes increasingly likely we are going to get liquidated at that point.

But (and it's a big but) if we get taken over before that point, the debt gets wiped and the EFL drop the charges with a new board in charge (unlikely I know) I think it's plausible.

[Yani P]

I've put a thread up to check our glorious run to safety..all a but muddy until we get a final score for deductions..I was thinking 16 will be the minimum based on Mels comments..that means without the deduction we will need a maximum of 67 to be safe..so 51 net...that is achievable if we get taken over before we lose our manager and players..

[brady1993]

3 minutes ago, Ambitious said:

We have another point deduction incoming. If we go on the basis of -21 or depending if we can't pay wages -24 then we would be closer to the true figure. 

I wish Mel Morris nothing but absolute misery until the end of his days. I hope he stubs his toe every step he takes and every wasp that descends on our shores stings his baw bag. Rancid bloke. 

Oh absolutely hence my line about extra sanctions.

There is a small chance that the second point deduction doesn't materialise with MM out of the picture or the new owners legally challenge it dragging it out until next year (not sure if this would be a good or a bad thing though mind).

[The Scarlet Pimpernel]

16 minutes ago, Ambitious said:

Mel keeps is a nice little present. 

Looks like Mel hasn't paid for it yet. Merely received the invoice to satisfy FFP. DCFC via the administrators may have a windfall coming in cash terms. From Mels perspective he gets refunded over time through any rental agreement with the club. Sounds like a win win to me.

[DCFC1388]

2 hours ago, atherstoneram said:

Don't think it works like that. HMRC and football related matters are 100%. The 25% relates to other secured creditors who must receive at least that percentage within Two years , thats how i understand it from listening to KM's podcast

I've seen Kieran Maguire mentioned a rule chaneg at the end of last year which means HMRC get 100% but I have also read from Nixon (i know) that he has spoken to people who have been involved in administration and it is still 25-35p on the £1. I am hoping in this case Nixon is correct.

[Derbados]

When my son was born I always said I’d take him to his first Derby game when he was 5 years old. I wanted him to experience the same buzz outside the ground before a game, the smell of the hot dogs and burger vans and the sharp intake of breath the first time he ever walked up the stairs and gazed upon the pitch. 

He just turned 5 and I’m absolutely devastated, this was a moment I’ve been planning since before he was even born. I can’t bring him into this, this is not how he should have to remember his first few months supporting a club that will become a part of him for the rest of his life. 

my worry is, if I don’t take him soon there might not be a club to take him to for much longer. 

This whole thing is devastating and you can feel how it’s affected the whole City.
 

 

[CornwallRam]

30 minutes ago, brady1993 said:

Oh if we hit January and are still in adminstration we are dead in the water, not only as a championship club but it becomes increasingly likely we are going to get liquidated at that point.

But (and it's a big but) if we get taken over before that point, the debt gets wiped and the EFL drop the charges with a new board in charge (unlikely I know) I think it's plausible.

I think if we get to January we will be OK. We're going to be relegated anyway, so losing players isn't going to be a problem. We can sell a couple of our best youngsters to provide cash flow and give away any high earners who attract interest to cut down the outgoings.  OK, that will hit our P&S, but that's the least of our worries. 

IMO, the real danger is finding sufficient cash to get to January. 

[Rample]

Never thought after crooks like Maxwell and the amigos screwed us over it would be a 'fan' that actually landed us in this mess.

After starting the season off I can't believe Mel has pulled the plug so soon. Negotiations aside, which surely he knew would fail, why start it if you have no intention to see it through?

His commitment should have been seeing a season through. I imagine things would have been a lot easier, shifting players, staffing back up and potentially finding buyers during the summer. To not try and move players out during the summer and buy ourselves some leeway is nothing short of head in the sand (or clouds).

For me at the end of the day, there is a responsibility that comes with owning a club, you are the caretaker/guardian and nothing more. Obviously things were going out of control after the Lampard season, so why not reverse the trend then and there? Why throw crazy contracts at Cocu and co, why not re-sell Marriott, Waghorn et al with a year lor 2 left on their deals (especially as they had actually performed) - even if it's for a loss we would have got something and think of the wages we could have saved. Also it flies in the face of Mel's amortisation BS. Apparently players don't lose value quickly in the first year or so, but it drops sharply at the end of that, so he must have known they'd soon be worth millions less.

Could have gone into the season utilising Bird, Knight, Bogle and brought in players on vastly less than Lawrence etc, turning the finances round, catching up with some debts, and avoiding administration and a points deductions in tandem.

Aren't there signs all around the stadium - gamble responsibly, set limits, don't chance losses. Mel is either an egomaniac or a clueless businessman and the blame for all this falls nowhere but at his feet. 

Right now he should apologise, throw £50m in to clear debts and leave the city/county/country/planet. If he can't do that he's not a fan.

[Rampage]

If we do indeed owe and I am not saying that we do owe £26 million to the Tax men, it must have taken a while to accumulate. With a week to go, it seems that we still had a chance of being taken over so always going to appear like a last minute decision to go into administration.

 

[B4ev6is]

4 minutes ago, Derbados said:

When my son was born I always said I’d take him to his first Derby game when he was 5 years old. I wanted him to experience the same buzz outside the ground before a game, the smell of the hot dogs and burger vans and the sharp intake of breath the first time he ever walked up the stairs and gazed upon the pitch. 

He just turned 5 and I’m absolutely devastated, this was a moment I’ve been planning since before he was even born. I can’t bring him into this, this is not how he should have to remember his first few months supporting a club that will become a part of him for the rest of his life. 

my worry is, if I don’t take him soon there might not be a club to take him to for much longer. 

This whole thing is devastating and you can feel how it’s affected the whole City.
 

 

Take him mate

Look dont let this stop you going to see lads play.

[Miggins]

7 hours ago, hintonsboots said:

No mention of candlestick makers either.

If we can't afford the leccy bill, we might very well be playing by candlelight... ?

[Yani P]

Derby were also in serious financial trouble in 1984 - less than a decade after the second of their Division One title wins - when former chairman Stuart Webb was a member of the board, and he criticised Morris' decision to "walk away" from the current situation.

"We worked relentlessly to keep the club alive which in the end we were able to do," Webb told BBC Radio Derby.

"We all worked together to keep it going but at this point it looks as though it's come to the end, and that really is worrying for everyone. Once the administrator is appointed, then we'll really find out what the extent of the problems is and how it's going to be dealt with, and that's not going to be pleasant."

Under Morris, the only other board members were company secretary Stephen Pearce and former Derby captain and manager Roy McFarland.

Webb added: "Mel Morris came in as a highly successful businessman but was clueless about the running of a football club. You need experienced people who can manage a huge business. You need to get the club on an even footing and if you go deeper down into a financial mire, take advice but don't walk away."

[Tombo]

I just want to say that I am a realist and I know the likelihood involved, but if we're admitting defeat and saying relegation is a certainty only 8 games into the season, we might as well fold the club now

You've got to believe it can be done. A bit of wild hope never hurt anyone. If we've got this defeatist attitude already, don't be surprised to get tonked every game now until the end of the season. How can the players have any belief if we as the fans don't?

Call me an idiot if you like but come on. Let's give it a try, no?

Edited September 22, 2021 by Tombo

[brady1993]

4 minutes ago, CornwallRam said:

I think if we get to January we will be OK. We're going to be relegated anyway, so losing players isn't going to be a problem. We can sell a couple of our best youngsters to provide cash flow and give away any high earners who attract interest to cut down the outgoings.  OK, that will hit our P&S, but that's the least of our worries. 

IMO, the real danger is finding sufficient cash to get to January. 

You could be right but my thinking is that if a buyer is going to come in it's more likely to be before January. 

A buyer comes in now and they likely can keep a lot of the club infastructure in place i.e. staff, academy, training facilities etc.. also by coming in now they can likely keep a good chunk of the squad intact. So that if/when we hit league 1 we have something to build back from.

But if this ends up going into January everything that can be sold off before then will have been already and then all the squad gets put up for sale. At that point the squad will be largely being sold to service the debt more so than keeping the club afloat. What this means is any buyer at the point has a substantially bigger job on their hands; they'd basically need to rebuild large chunks of the club from the ground up as well as clearing the debt as well trying to build a new squad for league 1. So if somebody does want to come in they are likely going to do it before that point.

I think what I'm trying to get at is that I think if we hit January with no new owner we've likely passed a point of no return and the probability of liquidation shoots through the roof.

[sage]

15 minutes ago, Derbados said:

When my son was born I always said I’d take him to his first Derby game when he was 5 years old. I wanted him to experience the same buzz outside the ground before a game, the smell of the hot dogs and burger vans and the sharp intake of breath the first time he ever walked up the stairs and gazed upon the pitch. 

He just turned 5 and I’m absolutely devastated, this was a moment I’ve been planning since before he was even born. I can’t bring him into this, this is not how he should have to remember his first few months supporting a club that will become a part of him for the rest of his life. 

my worry is, if I don’t take him soon there might not be a club to take him to for much longer. 

This whole thing is devastating and you can feel how it’s affected the whole City.
 

 

He won't remember FFP and administration, he will remember all the things you mentioned in your first paragraph. The atmosphere at the Stoke game was very positive and will be v Reading and Swansea. 

[Yani P]

1 minute ago, Tombo said:

I just want to say that I am a realist and I know the likelihood involved, but if we're admitting defeat and saying relegation is a certainty only 8 games into the season, we might as well fold the club now

You've got to believe it can be done. A bit of wild hope never hurt anyone. If we've got this defeatist attitude already, don't be surprised to get tonked every game now until the end of the season. How can the players have any belief if we as the fans don't?

Call me an idiot if you like but come on. Let's give it a try, no?

Totally agree.I remain 100% optimistic I refuse to sink into all doom and gloom..the team need us to give them belief that we can and will stay up and I will not think about relegation until it becomes a mathematical certainty..personally I am confident we will stay up as long as the EFL get off our backs..