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


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6 minutes ago, Mckram said:

I assume the stadium is one deal and the club another. 

 

6 minutes ago, Chester40 said:

2 separate parties have agreed to pay that price?

Yes, I reckoned those were the two possibilities. Just wondered if there was any definitive information. 

Not to worry, it looks like there's real interest which is encouraging. 

If only we can get the blasted efl over the line the future could look a lot rosier. 

UTR 

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5 hours ago, jono said:

whatever .. BUT .. at that point we should be allowed a clean slate. If we aren’t (given a clean slate in L 1 ) then there

I hope the administrators are pressing the EFL for the results of the P&S results of our resubmission. The delay is simply not acceptable. Would love to see them publicly quizzed regarding the delay. 

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2 hours ago, Van der MoodHoover said:

Cheers. Any idea what is meant by 2 deals?

Looks like 45 million will get both the stadium training ground and football club all in. In honesty he’s gotten everything right so far before anyone else. He mentioned the appeal and who’s interested. With Wigan he was bang on with everything to a tee. Maybe he knows people within the admin circle. He says the jez moxey group is Appleby and rush and others. These were the interested party at the stadium vs Swansea 

Edited by Barney1991
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On 11/10/2021 at 20:24, Gee SCREAMER !! said:

Wasn't the car being driven at 80 mph by a bloke who'd consumed half a bottle of wine through 3 miles of solid concrete.  I'm not sure seatbelts were being used either.  I may take some convincing it was a conspiracy.  

I have a bridge you might like to buy.

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On 11/10/2021 at 21:04, atherstoneram said:

The tax bill didn't just happen overnight, we could have sold players in the transfer window to pay debt. The lack of transparency from the club by failing to submit the last 2 years accounts to the EFL raises a Red flag. We don't know what financial position the club were in. To blame everything on Covid is clutching at straws without knowing the full facts No doubt all will be revealed in time.

I thought that we couldn’t submit our accounts because of the EFL enquiry. It would be no good submitting the accounts and then having to say to the Inland Revenue “the original set of accounts were wrong. Try this set for size”.

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14 hours ago, jono said:

I think you’re right, the only issue that worries me is that all creditors are not equal .. and with MSD getting the first call on whatever cash is available then how much will be left for the others and how much will they accept 

I think unsecured creditors need to get 25%, that’s the baseline. If they don’t agree to 25% and if the new owner is willing to pay enough to give them 25%, then that forces a sale of the business.  In other words the club’s business is sold to a Phoenix, and the sale proceeds are divvied out by a liquidator of the ‘old club’. This gets 25% to the creditors so we can continue to trade

it’s that threat of a sale to a Phoenix that should compel the unsecureds to agree a deal. 
 

in a rational world a sale to a Phoenix is unnecessary. Instead MM’s shares in the club are transferred to the new owner and creditors compromise.  But if creditors force a sale of the business I don’t think it’s a disaster - the club still continues as a going concern which is what we want 

This all assumes HMRC will also be rational, by the way. They should be, provided they believe the integrity of the auction process, and  the amount they get is driven by the amount of the highest bid. If they don’t accept that amount they force a liquidation 

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4 hours ago, Jubbs said:

Would make sense if Jez Moxey is leading the bid, as he is Head of Sport Team Mergers & Acquisitions according to GSW's website. 

https://generalsportsworldwide.com/

Although GSW's site would also suggest they are simply acting as an agent for another buyer.  It would suggest that they would simply facilitate this and then disappear, leaving us with the true owner, and without Moxey, Appleby, Rush etc.

 

Not a bad thing, just an observation

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