Gritstone Tup Posted October 6, 2021 Share Posted October 6, 2021 13 minutes ago, PistoldPete said: Why would he default on the mortgage? Because it’s only value to MM is in redevelopment! The interest rates he’s paying will not be met by the rent he can charge. Link to comment Share on other sites More sharing options...
PistoldPete Posted October 6, 2021 Share Posted October 6, 2021 Just now, Gritstone Tup said: Because it’s only value to MM is in redevelopment! The interest rates he’s paying will not be met by the rent he can charge. If he defaults he loses the property. He will not do that unless he really is brassic. Link to comment Share on other sites More sharing options...
Gritstone Tup Posted October 6, 2021 Share Posted October 6, 2021 28 minutes ago, derby8 said: No. Buyer asks administrator for one stop shop deal including all creditors, MSD, HMRC, etc, etc. Make them earn their money. If a deal struck including stadium freehold fine. If not buyer moves on to another project. Bad move to buy Derby County without stadium freehold, in my view. The administrator has no say what Mel or MSD do with the stadium. Link to comment Share on other sites More sharing options...
Stive Pesley Posted October 6, 2021 Share Posted October 6, 2021 9 minutes ago, PistoldPete said: Why would he default on the mortgage? Indeed - I'm sure he could pay off the MSD loan tomorrow if he needed to - he lobbed £12m into his own charity on a whim, his net worth is in the region of half a billion quid. That's possibly his end game - see a new owner take over, he pays off MSD and start charging the new owner rent. Leaving him and his heirs a steady income for the rest of time - without the need to bankroll the club itself? Gritstone Tup and jono 2 Link to comment Share on other sites More sharing options...
G STAR RAM Posted October 6, 2021 Share Posted October 6, 2021 12 hours ago, kevinhectoring said: Do you think the hmrc debt might be in dispute and that’s why MM did not pay it ? Can only see that it will be VAT or PAYE, so no idea why it would be in dispute. Link to comment Share on other sites More sharing options...
derby8 Posted October 6, 2021 Share Posted October 6, 2021 1 minute ago, Gritstone Tup said: The administrator has no say what Mel or MSD do with the stadium. If so there's a problem because no sane business person would buy Derby County without the stadium freehold. Administrator needs to find a way. Plenty of clubs available as alternatives for any buyer. Link to comment Share on other sites More sharing options...
Gritstone Tup Posted October 6, 2021 Share Posted October 6, 2021 1 minute ago, PistoldPete said: If he defaults he loses the property. He will not do that unless he really is brassic. But from what I’ve heard/read and please tell me if I’m wrong! Mel borrowed £81million from MSD to buy the stadium. So yes imo he will default rather than pay £8million/year in interest for no reason. Unless you think a buyer will come in and buy the stadium for £85million plus pay off all debts? Link to comment Share on other sites More sharing options...
Gritstone Tup Posted October 6, 2021 Share Posted October 6, 2021 4 minutes ago, Stive Pesley said: Indeed - I'm sure he could pay off the MSD loan tomorrow if he needed to - he lobbed £12m into his own charity on a whim, his net worth is in the region of half a billion quid. That's possibly his end game - see a new owner take over, he pays off MSD and start charging the new owner rent. Leaving him and his heirs a steady income for the rest of time - without the need to bankroll the club itself? Yes he could do that Stive let’s hope so. I’m guessing he could only charge dcfc about £2million/year for rent but a secure investment all the same. My only problem with that, is why didn’t he buy the stadium outright in the first place, why pay a penny in interest to MSD? Link to comment Share on other sites More sharing options...
Gritstone Tup Posted October 6, 2021 Share Posted October 6, 2021 4 minutes ago, derby8 said: If so there's a problem because no sane business person would buy Derby County without the stadium freehold. Administrator needs to find a way. Plenty of clubs available as alternatives for any buyer. That’s my opinion on the situation as well! derby8 1 Link to comment Share on other sites More sharing options...
Stive Pesley Posted October 6, 2021 Share Posted October 6, 2021 Just now, Gritstone Tup said: Yes he could do that Stive let’s hope so. I’m guessing he could only charge dcfc about £2million/year for rent but a secure investment all the same. My only problem with that, is why didn’t he buy the stadium outright in the first place, why pay a penny in interest to MSD? It's a good question - was he gambling on us getting promoted, a buy now pay later type thing - or was it done that way to help the illusion of him selling it to himself when we frigged the FFP? Link to comment Share on other sites More sharing options...
Gritstone Tup Posted October 6, 2021 Share Posted October 6, 2021 3 minutes ago, Stive Pesley said: It's a good question - was he gambling on us getting promoted, a buy now pay later type thing - or was it done that way to help the illusion of him selling it to himself when we frigged the FFP? It’s also a nice way to blame MSD for their interest rates, when failing to agree a suitable rental agreement with the administrator. Stive Pesley 1 Link to comment Share on other sites More sharing options...
rsmini Posted October 6, 2021 Share Posted October 6, 2021 So the owner of a Derbyshire based company is about to have money burning a hole in his pocket. As confirmed on the BBC the Saudi Arabians have finally got the go ahead to buy NUFC. He likes to buy companies that are in administration. This has been mentioned a couple of times over the last few weeks Derby4Me, Gritstone Tup and derby8 1 2 Link to comment Share on other sites More sharing options...
jono Posted October 6, 2021 Share Posted October 6, 2021 1 hour ago, derby8 said: If so there's a problem because no sane business person would buy Derby County without the stadium freehold. Administrator needs to find a way. Plenty of clubs available as alternatives for any buyer. They wouldn’t need the freehold, simply a firm agreement with known costs for the use of the stadium for a reasonable length of time. Link to comment Share on other sites More sharing options...
derby8 Posted October 6, 2021 Share Posted October 6, 2021 1 minute ago, jono said: They wouldn’t need the freehold, simply a firm agreement with known costs for the use of the stadium for a reasonable length of time. Derby are loss making at present. Would think new owner would seek to develop aspects of Pride Park to generate additional income. Likely to be more straightforward if they own the freehold. Link to comment Share on other sites More sharing options...
Sparkle Posted October 6, 2021 Share Posted October 6, 2021 20 minutes ago, rsmini said: So the owner of a Derbyshire based company is about to have money burning a hole in his pocket. As confirmed on the BBC the Saudi Arabians have finally got the go ahead to buy NUFC. He likes to buy companies that are in administration. This has been mentioned a couple of times over the last few weeks I would go for that - the bills get paid and we survive and may well progress - he is also opening two stores in our city centre as well r_wilcockson, derby8 and Derby4Me 3 Link to comment Share on other sites More sharing options...
MackworthRamIsGod Posted October 6, 2021 Share Posted October 6, 2021 22 minutes ago, rsmini said: So the owner of a Derbyshire based company is about to have money burning a hole in his pocket. As confirmed on the BBC the Saudi Arabians have finally got the go ahead to buy NUFC. He likes to buy companies that are in administration. This has been mentioned a couple of times over the last few weeks It's a strange one for me, Newcastle fans have always called Mike Ashley, yet they have always done a fair job in the prem, not been able to hit the heights of the 90s but still. When they did come down they got the best players in and went back up. Gritstone Tup 1 Link to comment Share on other sites More sharing options...
jono Posted October 6, 2021 Share Posted October 6, 2021 1 hour ago, Gritstone Tup said: Yes he could do that Stive let’s hope so. I’m guessing he could only charge dcfc about £2million/year for rent but a secure investment all the same. My only problem with that, is why didn’t he buy the stadium outright in the first place, why pay a penny in interest to MSD? The only thing I can think of is that it was a quick fix at an awkward moment. It does seem odd though. Then again I think in straight lines so what do I know ! You think of solid but conservative investments making 3-5% per year … so why borrow money at 3 x that rate ? Odd. Perhaps some of his paper wealth was in investments that tanked in Covid ? It happens. consider for us normal mortals … something really basic like Royal Dutch Shell and BP lost nearly 50% of value at one point … Those are the sort physical investments who’s regular dividends pay close to 20% of UK private pensions - those provided by anyone from Standard life to Rolls Royce Link to comment Share on other sites More sharing options...
jono Posted October 6, 2021 Share Posted October 6, 2021 7 minutes ago, derby8 said: Derby are loss making at present. Would think new owner would seek to develop aspects of Pride Park to generate additional income. Likely to be more straightforward if they own the freehold. True but the right sort of lease makes that more than workable. I think I am like you though .. I want my house to be mine without covenants. It rarely happens, but for me it’s how it should be in a sensible world derby8 1 Link to comment Share on other sites More sharing options...
Sparkle Posted October 6, 2021 Share Posted October 6, 2021 1 minute ago, MackworthRamIsGod said: It's a strange one for me, Newcastle fans have always called Mike Ashley, yet they have always done a fair job in the prem, not been able to hit the heights of the 90s but still. When they did come down they got the best players in and went back up. They are never happy - they are stable but obviously they can’t compete with the money from Man City United chelsea Liverpool etc obviously if their potential new owners take over it will push the noses out of a few premiership clubs so the premiership may well want that not to happen. Ashley owning and investing in Derby county may well be the exact thing we need right now Link to comment Share on other sites More sharing options...
derby8 Posted October 6, 2021 Share Posted October 6, 2021 2 minutes ago, Sparkle said: They are never happy - they are stable but obviously they can’t compete with the money from Man City United chelsea Liverpool etc obviously if their potential new owners take over it will push the noses out of a few premiership clubs so the premiership may well want that not to happen. Ashley owning and investing in Derby county may well be the exact thing we need right now He may see DC as a money making project, he likes gambles and getting into the PL would make him a tidy packet... Sparkle 1 Link to comment Share on other sites More sharing options...
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