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

[Ram-Alf]

41 minutes ago, Shipley Ram said:

They whole youth system has been set up by the wealthy clubs so they can poach the top prospects for peanuts. They used the argument that it's best for England if the top prospects get the best training. We poach smaller clubs prospects and big clubs poach ours. This is why some clubs just don't bother with a youth  setup.

 

This doesn't help

https://www.bbc.co.uk/news/uk-58600845

[BramcoteRam84]

Best case scenario: We get a buyer relatively soon so we don’t incur further points deductions for not paying players, we come to a sensible reasonable agreement with the EFL on P&S, and we end up with a 16-18 point deduction in total. We galvanise behind these players, we can bring some cost effective reinforcements in January, we have an outside chance of avoiding the drop but we will probably be relegated to League 1

Worst case scenario: Liquidation a new club is formed and we’re negotiating what league we start in hoping it will be above the midlands counties league.

I will bite your hand off for something in the middle 

[Oldben]

Rooney meets the administrators today.

Not sure if anything good can come from that.

Assuming they ask him, what players if any can be sold.

Given the team is already almost to thin on the ground to function, and that Mel would have weighed up is there anyone left I can sell and didn't sell anyone else.

The team has zero chance of surviving relegation if they sell anyone else and if they sell with the wages they are allowed to pay who could they get on loan, assuming loan players can still be signed.

If Rooney leaves the club, who would manage the team. If a new manager were brought in at this time, then that means the club is relegated, no new manager I can think of could do what Rooney has been doing with the current team.

I also think losing Rooney would hugely demoralise the team.

If the administrators say they are planning to sell Knight, sibley, buchanan, bird.

Then I think the club has zero chance of avoiding liquidation.

What price can the club be sold for, without the auditors closing the club.

[Alph]

Is there anything stopping Mel from using his personal wealth to pay off the unsecured creditors during/after this mess? 

I'm guessing so

I just couldn't imagine watching small businesses and sole traders suffer because of me when I have huge personal fortune. 

If he's truly taken us into admin to push for a buyer and to rid himself of the money sink that DCFC are then it would weigh heavily on his conscience. 

If he's just decided to wash his hands of the whole thing and wants out with his fortune intact then I guess they're collateral 

[Stive Pesley]

9 hours ago, Rampant said:

Allowing administration to happen whilst sitting on £300m is obscene

I guess this was the point of his rats nest of limited companies,  Gellaw this that and the other - carefully constructed to protect his personal fortune on the day that it all comes tumbling down

Ultimately, the club has not gone into administration because it has "run out of money", it's gone into administration because MM no longer wants to own it, but is trapped into continuing to own it because he can't find a buyer. And he can't find a buyer because he's got the club into an undesirable state

Administration is the coward's way out, instead of just admitting responsibility and fixing it

The only question to ask yourself is "why would anyone buy the club?"

If there was a way to turn it around from here and make money, then MM would be doing it

 

 

[Alph]

3 minutes ago, Oldben said:

Rooney meets the administrators today.

Not sure if anything good can come from that.

Assuming they ask him, what players if any can be sold.

Given the team is already almost to thin on the ground to function, and that Mel would have weighed up is there anyone left I can sell and didn't sell anyone else.

The team has zero chance of surviving relegation if they sell anyone else and if they sell with the wages they are allowed to pay who could they get on loan, assuming loan players can still be signed.

If Rooney leaves the club, who would manage the team. If a new manager were brought in at this time, then that means the club is relegated, no new manager I can think of could do what Rooney has been doing with the current team.

I also think losing Rooney would hugely demoralise the team.

If the administrators say they are planning to sell Knight, sibley, buchanan, bird.

Then I think the club has zero chance of avoiding liquidation.

What price can the club be sold for, without the auditors closing the club.

I don't think they'll ask his opinion, will they? 

They'll literally do everything they need to do to keep the club alive. They won't care what league or what the morale. They'll sell Knight, the flat screen tv's, office chairs and pay next to nothing (or nothing) to unsecured creditors to make sure secure creditors get paid? They just do whatever it takes. 

Be nice if a buyer comes to the rescue but I imagine they'll wait and buy the club when we don't have a pot left to piss in

Unless somebody wants to part with tens of millions to buy a club that doesn't own its ground or training facilities, has -12 more points and no senior players of any value. Fingers crossed that somebody is that mad. 

[Spanish]

38 minutes ago, CornwallRam said:

Where are the club going to get £81m to buy back the ground?

I suspect we haven't been paid for it in full, time will tell

[61GT]

7 minutes ago, Stive Pesley said:

I guess this was the point of his rats nest of limited companies,  Gellaw this that and the other - carefully constructed to protect his personal fortune on the day that it all comes tumbling down

Ultimately, the club has not gone into administration because it has "run out of money", it's gone into administration because MM no longer wants to own it, but is trapped into continuing to own it because he can't find a buyer. And he can't find a buyer because he's got the club into an undesirable state

Administration is the coward's way out, instead of just admitting responsibility and fixing it

The only question to ask yourself is "why would anyone buy the club?"

If there was a way to turn it around from here and make money, then MM would be doing it

 

 

Seems like the perfect summary of our current predicament.

[TheresOnlyWanChope]

10 minutes ago, Alpha said:

Is there anything stopping Mel from using his personal wealth to pay off the unsecured creditors during/after this mess? 

I'm guessing so

I just couldn't imagine watching small businesses and sole traders suffer because of me when I have huge personal fortune. 

If he's truly taken us into admin to push for a buyer and to rid himself of the money sink that DCFC are then it would weigh heavily on his conscience. 

If he's just decided to wash his hands of the whole thing and wants out with his fortune intact then I guess they're collateral 

Mel doesn’t want to do anything that affects his finances negatively anymore it seems. He cares more about that than Derby surviving as a club. If not he would still be funding the club. 

Edited September 22, 2021 by TheresOnlyWanChope

[Spanish]

41 minutes ago, Grumpy Git said:

Despite professional footballers generally not being the brightest lights in the chandelier, I don't think they're that thick?

I said it was remote

[Donnyram]

50 minutes ago, Spanish said:

I'll just add that Rooney and his mates remain for me the only remote way out of this

I’m sure he’ll be canvassing hard in the background

[I know nuffin]

Memories

[SamUltraRam]

5 minutes ago, Spanish said:

I suspect we haven't been paid for it in full, time will tell

That's what I'm clinging onto.

Much has been said about what we owe to creditors but what about debtors ?

Are we still owed big money for the stadium. Are we still owed money for player sales eg Bogle & Lowe from last season ? Do we still get the Sky TV money ? etc,etc

I assume the administrators chase the debtors as well as work for the creditors ?

[SamUltraRam]

What a week for DCFC

1st team beat Stoke City

U23s beat West Ham

U18s beat Liverpool

Oh & the club goes into administration !!!

Forget the owner, this great club has to be saved

[Spanish]

Just now, SamUltraRam said:

That's what I'm clinging onto.

Much has been said about what we owe to creditors but what about debtors ?

Are we still owed big money for the stadium. Are we still owed money for player sales eg Bogle & Lowe from last season ? Do we still get the Sky TV money ? etc,etc

I assume the administrators chase the debtors as well as work for the creditors ?

the debt is owed by a company that Mel owns, not him.  The company has 1 asset which we are told has a charge over it, not ifo the club.  Not a great scenario

[SaffyRam]

2 minutes ago, SamUltraRam said:

That's what I'm clinging onto.

Much has been said about what we owe to creditors but what about debtors ?

Are we still owed big money for the stadium. Are we still owed money for player sales eg Bogle & Lowe from last season ? Do we still get the Sky TV money ? etc,etc

I assume the administrators chase the debtors as well as work for the creditors ?

Yes, they’ll definitely chase the debtors so as to maximise the money coming in to pay off the creditors 

[ketteringram]

Is the minus 12 points thing likely to be announced officially this week sometime?

[Finch]

1 hour ago, one_chop said:

Reading everything I've read from various 'news' outlets I honestly can't see a solution to our finances. I really fear we are going to break the mould and be that 1st big English club to be Liquidated. 

Highly likely outcome.

[Bald Eagle's Barmy Army]

2 minutes ago, ketteringram said:

Is the minus 12 points thing likely to be announced officially this week sometime?

Yes, but after the Swansea game we can be on +7 - now wouldn’t that be nice 

[Spanish]

Just now, ketteringram said:

Is the minus 12 points thing likely to be announced officially this week sometime?

I assume that when an administrator is formally appointed then the penalty will apply immediately.  The liquidator then can/should appeal it based on covid causes.  Goes to IDC so I can predict this will roll on unless liquidation beats it to the finish line