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

[Rev]

16 minutes ago, Chester40 said:

I haven't accepted the offer of a free ticket...but I will make an exception for you.

Sorry, I missed the quote marks. 

Although I clearly stated that was Mel's position.

[Miggins]

2 hours ago, i-Ram said:

I really don't understand this uber-cryptic post. It is very puzzling. Please could you make it clearer? Who is this mysterious and dashing hero ?

2 hours ago, i-Ram said:

 

 

Edited September 24, 2021 by Miggins

[Crewton]

One thing Kieran Maguire won't know is the terms under which Mel Morris loaned money to the club. His comment about MM possibly wanting (or even being able to demand) 25% back must be pure conjecture. 

I think he'll be aiming to get something back for PP and MF, but possibly not on his loans to the club - that is what he suggested very recently anyway. 

[alexxxxx]

2 hours ago, RadioactiveWaste said:

I don't think the EFL are looking to deduct us points next season as well. In fact I thought the EFL wanted the outstanding issues resolved promptly.

We might end up with deductions next season due to new issues surrounding P&S or the insovancy not yet uncovered, Investigated and charged (i.e. not yet existing as a potential thing) or the above are not resolved.

The notion that the EFL just want to punish us over multiple seasons "to serve us right" is frankly balls.

I think you’re right in that the efl want to resolve (ie negotiate rather than formal process) but they want it on their terms.
 

The top brass at the efl probably feel more under pressure and accountable to the other championship chairmen than the temporary Derby administrators. They can essentially tell the administrators ‘it’s 9pts to make this go away’ or you can risk 12 or more going through DC.

The merit of the ‘charges’ will never see the light of day and will be hidden behind an opaque statement… presumably part of the agreement. The administrators barely care… as long as they can sell the club and recoup the debt. They aren’t going to fund a legal case that drags out for months.

The efl top brass get to placate the other chairmen, cosy their favour and keep in their roles. Derby can’t compete and we as fans suffer.

[Reggie Greenwood]

3 hours ago, Oldben said:

Maguire addressed Derby's recent appointment of administrators due to their financial difficulties, focusing on the club's debts.

In his words, “the estimates I've been provided range from low to mid-twenty [millions] of what is owed to the tax authorities.” 

Your football debts are valued at £10 million.

After paying the first £35 million, a quarter of the remaining obligations, estimated at £5 million to £10 million, must be paid.

“And finally Mel Morris. 

Mel Morris has now lent Derby County approximately £100 million. 

If he wants 25% of that, the administrators will have to sell Derby County for £60 million for a team in League One that

doesn't own its stadium. 

So where we are now is quite concerning.”

on top of which efl are looking to hit Derby with another load of points next year, when Derby are very likely to be in league one.

MM has apparently agreed to wipe off the debt  ? 
 

[Reggie Greenwood]

3 minutes ago, Reggie Greenwood said:

MM has apparently agreed to wipe off the debt owed to him ? 
 

 

[RoyMac5]

5 minutes ago, Reggie Greenwood said:

MM has apparently agreed to wipe off the debt  ? 
 

Apparently.

I understand he said he'd keep paying the wages...

[Reggie Greenwood]

1 minute ago, RoyMac5 said:

Apparently.

I understand he said he'd keep paying the wages...

Going on what the admins said re the debt. 
agreed who knows if MM changes his mind again 

[duncanjwitham]

1 hour ago, Crewton said:

Kieran Maguire won't know. His comment must be pure conjecture. 

Fixed that for you.

[Chilwellram]

28 minutes ago, Reggie Greenwood said:

 

That he created !

[kevinhectoring]

4 hours ago, Charlotte Ram said:

It will be MSD, they need the club to keep trading/playing until they get their money back they have security already so it is no bug deal to them

Lending to the administrators is pretty safe because I think you rank ahead of everyone else including secured creditors. Could be MSD but more likely a bank. I’d guess that will be cheaper 

[Gee SCREAMER !!]

1 hour ago, Reggie Greenwood said:

MM has apparently agreed to wipe off the debt  ? 
 

Fab . I look forward to hearing HMRC, all loans and other creditors are paid up by Monday. 

[kevinhectoring]

1 hour ago, RoyMac5 said:

I understand he said he'd keep paying the wages...

Had not heard that, what’s the source ? 

[RoyMac5]

Just now, kevinhectoring said:

Had not heard that, what’s the source ? 

Mel.

[kevinhectoring]

1 hour ago, Reggie Greenwood said:

Going on what the admins said re the debt. 
agreed who knows if MM changes his mind again 

if he had decided to pay all the debt I don’t think we’d be in administration. 
What Hoskin said I think was that MM had agree to waive all of his own claims against the club 

[kevinhectoring]

11 minutes ago, RoyMac5 said:

Mel.

Go on ... 

[kevinhectoring]

38 minutes ago, RoyMac5 said:

Mel.

Go on ...   when did he say this, what did he say ? 

[RoyMac5]

Just now, kevinhectoring said:

Go on ...   when did he say this, what did he say ? 

Mel said he'd keep paying the clubs outgoings - after one of the failed takeovers? Can't remember.

But yeah whatever, Mel didn't say it and coudn't give a poo if the club goes to the wall, nowt to do with him. ?

[Gee SCREAMER !!]

1 minute ago, kevinhectoring said:

Go on ...   when did he say this, what did he say ? 

I remember him clearly saying it in February. I'm assuming he may mean that.

[uttoxram75]

4 hours ago, Miggins said:

Is it within the remit of the administrators to bargain with the EFL now that Mel has gone?

The EFL will have to bargain with Steve Gibson and Kieran Maguire to make sure whatever the punishment is, its to their satisfaction.