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


therams69

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4 hours ago, G STAR RAM said:
11 hours ago, Brailsford Ram said:

Mel bought his initial 25% of the club on the eve of the play-off final versus QPR in 2014. He completed his buy out from GSE later that year. The club was in its best place since the turn of the millennium. It was debt free, following six years of austerity measures under GSE. The team were favourites to win promotion to the Premier League. Mel inherited a club that was in its best place for years. He leaves it to fight against relegation to Division One.

The bold bit just simply isnt true and I'm not sure why you would say it if you don't know the facts.

The club was £18m in debt (from memory) and losing circa £9m per year.

When Mel bought the club in full from American Partners LLP in September 2015 it was debt free aside from a mortgage of £15m secured against the stadium through Barclays Bank plc. That mortgage would have been discounted from the purchase price Mel agreed to buy at. That charge was satisfied on 12 August 2016. The height of the debt during the ownership by GSE aka American Partners followed the club's relegation and the departure of Paul Jewell as manager in January 2009 whereupon Nigel Clough worked under a regime of austerity measures to reduce the debt right up until his departure in September 2013. Many supporters complained that GSE was only interested in debt reduction and that they were failing to invest in strengthening the team. Clough has complained about the restraints he worked under ever since he left the club. He said it was the opposite of what he was told when he agreed to join. He said that if he had understood the restraints from the beginning, he would have stayed at Burton Albion. He claimed that with the benefit of hindsight, he regretted ever joining Derby County. From that I do not recognise your memory recall that the club was being drained of money to the tune of £9m a year at the time Mel bought the club.

I have no added agenda for what I say. I am simply a supporter of 60 years standing who cares deeply for DCFC. You have insinuated that I am telling lies. You have no grounds whatsoever for doing that. If you knew me, I am certain you would  not even think it.

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6 hours ago, Brailsford Ram said:

When Mel bought the club in full from American Partners LLP in September 2015 it was debt free aside from a mortgage of £15m secured against the stadium through Barclays Bank plc. That mortgage would have been discounted from the purchase price Mel agreed to buy at. That charge was satisfied on 12 August 2016. The height of the debt during the ownership by GSE aka American Partners followed the club's relegation and the departure of Paul Jewell as manager in January 2009 whereupon Nigel Clough worked under a regime of austerity measures to reduce the debt right up until his departure in September 2013. Many supporters complained that GSE was only interested in debt reduction and that they were failing to invest in strengthening the team. Clough has complained about the restraints he worked under ever since he left the club. He said it was the opposite of what he was told when he agreed to join. He said that if he had understood the restraints from the beginning, he would have stayed at Burton Albion. He claimed that with the benefit of hindsight, he regretted ever joining Derby County. From that I do not recognise your memory recall that the club was being drained of money to the tune of £9m a year at the time Mel bought the club.

I have no added agenda for what I say. I am simply a supporter of 60 years standing who cares deeply for DCFC. You have insinuated that I am telling lies. You have no grounds whatsoever for doing that. If you knew me, I am certain you would  not even think it.

I've not accused you of deliberately telling lies, just pointing out that you are stating incorrect information. 

Having a £15m mortgage, aswell as a £3million bank loan that you have not mentioned, does not make a business debt free as you alluded to.

I never said the club was being drained of money to the tune of £9m, I said we were making a loss of £9m, after a quick look at the accounts I can see it was actually £7m.

So, before MM bought into the club we were losing £7m a year and pretty much refusing to spend more than £1m on players.

 

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17 hours ago, Brailsford Ram said:

It is immaterial, both the media and the administrators are expressing opinions not facts. Neither opinion matters. Only the eventual outcomes matter. The point is that opinions vary. i personally think the administrators estimates are over optimistic but i am still optimistic that a buyer will be found. COYR.

The huge difference is that the administrators opinion is based on them being experts in the field and with all of the financial information to hand.

The medias opinion is based on nothing other than guesswork. 

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14 hours ago, Andrew1 said:

There is a lot of mention of Debt.  It is sort of irrelevant.  Businesses can run quite successfully with large amounts of debt, so long as it can be serviced successfully and budgeted for.  Derby is a big club in the EFL in terms of attendances and gate receipts.  So without the income due to no fans, that debt could not be serviced.

That’s the simple argument. COVID did not allow the owner to service debt that he would have been able to do if COVID had not have happened.

The level of debt he was carrying though is why he failed when covid hit. Morris had no wriggle room left to be able to cheat his way out of. He knew it was game up but instead of admitting he screwed up, he doubled down blaming everything on covid and the EFL! 

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1 minute ago, Hordh said:

The level of debt he was carrying though is why he failed when covid hit. Morris had no wriggle room left to be able to cheat his way out of. He knew it was game up but instead of admitting he screwed up, he doubled down blaming everything on covid and the EFL! 

The size of the debt is irrelevant if the 'business plan' we had in place showed we would have survived without Covid. What about Stoke with almost £200m debt, Blackburn £156m, Birmingham and Boro over £100m, Cardiff and Blackburn not far behind, Brentford and Bristol both higher than our reported debt of about £60m.

image.png.229efa6f80ac51b81db0e9a63104721a.png

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13 minutes ago, Ghost of Clough said:

The size of the debt is irrelevant if the 'business plan' we had in place showed we would have survived without Covid. What about Stoke with almost £200m debt, Blackburn £156m, Birmingham and Boro over £100m, Cardiff and Blackburn not far behind, Brentford and Bristol both higher than our reported debt of about £60m.

image.png.229efa6f80ac51b81db0e9a63104721a.png

Their owners didn't reveal they were only putting enough money in to keep the club ticking over, i don't think the EFL have sought assurances that those clubs could fulfil this seasons fixtures,they must be in a healthier position than us

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11 minutes ago, atherstoneram said:

Their owners didn't reveal they were only putting enough money in to keep the club ticking over, i don't think the EFL have sought assurances that those clubs could fulfil this seasons fixtures,they must be in a healthier position than us

How do you know that? - the general public simply don’t know 

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1 hour ago, Ghost of Clough said:

The size of the debt is irrelevant if the 'business plan' we had in place showed we would have survived without Covid. What about Stoke with almost £200m debt, Blackburn £156m, Birmingham and Boro over £100m, Cardiff and Blackburn not far behind, Brentford and Bristol both higher than our reported debt of about £60m.

image.png.229efa6f80ac51b81db0e9a63104721a.png

Boro over £100m you say ???

So when do the EFL start the investigation and transfer embargo with that shower of barstewards then ??

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Just now, IslandExile said:

Odd thing to say.

Who else hasn't been in contact?

Is it just the Administrator playing to the Press? Oh lord. We're happy to have transparency - at last! - but we don't need Administrators that want to be in the limelight.

 

jeez - is there anything that folk on here won't moan about.......?

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2 minutes ago, IslandExile said:

Odd thing to say.

Who else hasn't been in contact?

Is it just the Administrator playing to the Press? Oh lord. We're happy to have transparency - at last! - but we don't need Administrators that want to be in the limelight.

 

Not really that odd. There has been a lot of speculation and a little bit of paper talk that he was interested and had put a bid in

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7 minutes ago, Gaspode said:

jeez - is there anything that folk on here won't moan about.......?

 

6 minutes ago, Ghost of Clough said:

Not really that odd. There has been a lot of speculation and a little bit of paper talk that he was interested and had put a bid in

Yeah, you're both right.

After the lack of information, it is good that they are keeping us informed.

To the Administrators.....I apologize. Keep up the good work and thanks for letting us know.

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9 minutes ago, IslandExile said:

Odd thing to say.

Who else hasn't been in contact?

Is it just the Administrator playing to the Press? Oh lord. We're happy to have transparency - at last! - but we don't need Administrators that want to be in the limelight.

 

Have to say i'm pretty upset about this, For the last 2 days I can confirm that I haven't and i'll say it again I haven't been in touch with DCFC/Administraters about an offer to buy the club, They have not sent me an NDA to sign and also the Daily Mirror didn't contact or run a story to say I was concidering buying the club.

The only correspondance that I have recieved is from the BBC and that is down to non payment of my TV lisence.

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5 hours ago, Hordh said:

The level of debt he was carrying though is why he failed when covid hit. Morris had no wriggle room left to be able to cheat his way out of. He knew it was game up but instead of admitting he screwed up, he doubled down blaming everything on covid and the EFL! 

Hmmm, are you a Rams fan?  I have read some of your other posts and although you are perfectly entitled to your opinion they just seem a bit “off”

Nobody could have forseen the events of the last 18 months, so what “wiggle room” did you expect him to have?

Why did you use the word cheat?  ?

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