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

[Miggins]

4 hours ago, Warwick Ram said:

Are people really going to keep defending Mel?

He couldn’t even be bothered to tell Rooney before the news was announced.

The man is spineless but don’t worry as he is a fan an really cares (not).

He will walk away from this debt free. Yes, he has lost money but he will make it back somehow I am sure of it.

Oh and don’t forget his company owns the stadium so who will be receiving rent for us to play there in future? Or will he sell it back to us at a tidy profit for himself?

The thought that we have to keep paying rent to this man for playing in what was our own ground rubs salt into the wound. I don't claim to understand the details of this but he became the custodian of our beloved club and then saw fit to sell our stadium. How did that benefit the club?

[Van der MoodHoover]

17 minutes ago, G STAR RAM said:

Up to 30th June 2018, funds were put into the club via share purchases made by the parent company. 

MM had introduced funds into the parent company via loans but that is not debt in the football club.

And what is the approximate quantum of said injections per the club accounts? 

[G STAR RAM]

1 minute ago, Van der MoodHoover said:

And what is the approximate quantum of said injections per the club accounts? 

I'll have to take a look at the accounts when I get chance, but from memory I think it was circa £150m, which represented £50m purchase price and £100m pumped into the club since.

[Van der MoodHoover]

4 minutes ago, G STAR RAM said:

I'll have to take a look at the accounts when I get chance, but from memory I think it was circa £150m, which represented £50m purchase price and £100m pumped into the club since.

150 does seem to have some provenance then. 

Even that ranting bloke who isn't the King of Caravans said something similar as an amount.... ?

[Gritstone Ram]

1 minute ago, Van der MoodHoover said:

150 does seem to have some provenance then. 

Even that ranting bloke who isn't the King of Caravans said something similar as an amount.... ?

I thought he said £275m

You’d have to sell a hell of a lot of Statics in Skeggy to make that kind of money.

[Van der MoodHoover]

2 minutes ago, Gritstone Ram said:

I thought he said £275m

You’d have to sell a hell of a lot of Statics in Skeggy to make that kind of money.

In Dorset and Hampshire, not so many.... ?

[MuespachRam]

Just saw a brilliant tweet that I hadn’t even thought about…. Imagine if Waggorn had missed that penalty…and we were getting 21 points docked in league 1………!?

[Gritstone Ram]

6 minutes ago, MuespachRam said:

Just saw a brilliant tweet that I hadn’t even thought about…. Imagine if Waggorn had missed that penalty…and we were getting 21 points docked in league 1………!?

We might only have finished second

[Stive Pesley]

 

If that's true, and these debts are not wiped out by going into administration (as is apparently the case) - then why the hell would ANYONE buy the club?

 

[Eddie]

3 minutes ago, Stive Pesley said:

 

If that's true, and these debts are not wiped out by going into administration (as is apparently the case) - then why the hell would ANYONE buy the club?

 

If HMRC were set to lose £26m - which would be the case if what you are saying regarding administration effectively 'wiping out the debts' were true - they would issue a winding-up petition immediately. 

[Gritstone Ram]

7 minutes ago, Stive Pesley said:

 

If that's true, and these debts are not wiped out by going into administration (as is apparently the case) - then why the hell would ANYONE buy the club?

 

How could we owe £26m to HMRC? The only way would be tax out of wages and I doubt they’re that high now.

[Ramarena]

6 minutes ago, Stive Pesley said:

 

If that's true, and these debts are not wiped out by going into administration (as is apparently the case) - then why the hell would ANYONE buy the club?

 

If no one buys the club then the administrator is going to have to go on  a savage cost cutting project to save the club.

They may be able to negotiate some debt reductions in some areas, however I’m not sure how the club can pay off these levels of debts currently, even if they strip all costs back!

[AbuDerbyDave]

3 hours ago, RoyMac5 said:

Fair play from a F*rest coming on here telling us how Mel hasn't done the right thing without mentioning how he could easily compare it with his own club? Where was his fair play!?

Though he was quite reasonable in his quotes this isn’t anything to do with F*rest at this present time. We’re all upset with the way things have gone down.

[Yani P]

A new owner won't have to pay Morris anything ..wasn't he asking for a sum and pay off all club debt?

[G STAR RAM]

14 minutes ago, Stive Pesley said:

 

If that's true, and these debts are not wiped out by going into administration (as is apparently the case) - then why the hell would ANYONE buy the club?

 

If we owe HMRC £26m, to me that would indicate that we have not paid them at all since Covid.

If that is true and MM has been funding us to the tune of £1m to £1.5m per month, I'd like to know exactly what we have required loans to fund?

[Stive Pesley]

1 minute ago, G STAR RAM said:

If we owe HMRC £26m, to me that would indicate that we have not paid them at all since Covid.

If that is true and MM has been funding us to the tune of £1m to £1.5m per month, I'd like to know exactly what we have required loans to fund?

It's baffling innit?

That quote was from John Percy on Twitter I believe, so may or may not be true. Seems an strange number to just make up though

Why would you just not pay your tax bill though? Other clubs installments and Cocu payments, fair enough those are contractual issues for 2 parties to sort out, but not paying your tax bill usually ends in a stretch at her majesty's pleasure doesn't it?

[Van der MoodHoover]

Just now, Stive Pesley said:

It's baffling innit?

That quote was from John Percy on Twitter I believe, so may or may not be true. Seems an strange number to just make up though

Why would you just not pay your tax bill though? Other clubs installments and Cocu payments, fair enough those are contractual issues for 2 parties to sort out, but not paying your tax bill usually ends in a stretch at her majesty's pleasure doesn't it?

HMRC don't usually pull any punches. There are some differences between the various bits - by reputation, the vat people are especially fierce and certainly used to have powers to enter and seize assets. 

[Ramarena]

3 minutes ago, G STAR RAM said:

If we owe HMRC £26m, to me that would indicate that we have not paid them at all since Covid.

If that is true and MM has been funding us to the tune of £1m to £1.5m per month, I'd like to know exactly what we have required loans to fund?

Indeed. He stated that the club would break even in normal times and with the above debts remaining unpaid, there’s a good chunk of money going out of club on a monthly basis. 

Im not that up to date with the financial wranglings, however the questions I have from what I remember recently are:

- Did Gabbay lend us money to buy the stadium as was speculated upon?

- What is the status of the loans from MSD, on initially the ground and then a further loan against Moor Farm?

Could there be much more than we know behind the scenes with the above?

[G STAR RAM]

4 minutes ago, Ramarena said:

Indeed. He stated that the club would break even in normal times and with the above debts remaining unpaid, there’s a good chunk of money going out of club on a monthly basis. 

Im not that up to date with the financial wranglings, however the questions I have from what I remember recently are:

- Did Gabbay lend us money to buy the stadium as was speculated upon?

- What is the status of the loans from MSD, on initially the ground and then a further loan against Moor Farm?

Could there be much more than we know behind the scenes with the above?

None of them debts are in the club as far as I am aware.

 

[RammingStone66]

4 minutes ago, Ramarena said:

Indeed. He stated that the club would break even in normal times and with the above debts remaining unpaid, there’s a good chunk of money going out of club on a monthly basis. 

Im not that up to date with the financial wranglings, however the questions I have from what I remember recently are:

- Did Gabbay lend us money to buy the stadium as was speculated upon?

- What is the status of the loans from MSD, on initially the ground and then a further loan against Moor Farm?

Could there be much more than we know behind the scenes with the above?

Can't read the whole article as I'm not a subscriber but it seems the athletic thought Mel borrowed 81mil from Gabay to buy the stadium. The article was posted in July 2020.