Gee SCREAMER !! Posted July 18, 2021 Share Posted July 18, 2021 6 minutes ago, JfR said: Does anyone know if this issue with "professional standing" players is a new thing? I ask, because I hadn't heard of it being a rule previously, and I can't find any relevant results when searching "EFL professional standing" from before 2021. It feels an especially egregious situation if this is a rule that has only been introduced in the last few months, after players had already played in the Chorley game. Bit like them asking for 3 years accounts to be resubmitted when they'd already agreed the format. Would never happen Link to comment Share on other sites More sharing options...
Tyler Durden Posted July 18, 2021 Share Posted July 18, 2021 Egregious, good word. Better be careful or you'll get accused of swallowing a dictionary if you carry on like that. Link to comment Share on other sites More sharing options...
Sheikh n Bake Posted July 18, 2021 Share Posted July 18, 2021 1 hour ago, Tyler Durden said: can't see the economy picking up dramatically over the next 12 months You know the economy is practically back to pre-covid levels, right? Link to comment Share on other sites More sharing options...
Tyler Durden Posted July 18, 2021 Share Posted July 18, 2021 11 minutes ago, Sheikh n Bake said: You know the economy is practically back to pre-covid levels, right? Really? Is that why bank interest rates have been at rock bottom for the past number of months. You wouldn't think it. Link to comment Share on other sites More sharing options...
kevinhectoring Posted July 18, 2021 Share Posted July 18, 2021 1 hour ago, Tyler Durden said: I'm calling it as things are being played out, hence the total vacuum of any serious investor wanting to take on the club. I've already posted some time ago that the longer it takes for an investor to come in then the likelihood of thst investor materialising becomes more and more remote - you mention when we get free from the pandemic, how long will that be, this year, next year it's totally manyana atm. I can't see the economy picking up dramatically over the next 12 months, I can't see interest rates rising much if any over that period so we're going to be stuck in that financial rut for a long while yet. I don’t think the value of the club has anything to do with the wider economy. It’s all to do with the return of fans and whether it will be permanent. So the problem is, how do you put a value on the club in such a volatile environment. Makes it very hard to sell especially when there are fire sales going on around us. Link to comment Share on other sites More sharing options...
Ramslad1992 Posted July 18, 2021 Share Posted July 18, 2021 31 minutes ago, Tyler Durden said: Egregious, good word. Better be careful or you'll get accused of swallowing a dictionary if you carry on like that. You have my most enthusiastic contrafibularities. Link to comment Share on other sites More sharing options...
Sheikh n Bake Posted July 18, 2021 Share Posted July 18, 2021 34 minutes ago, Tyler Durden said: Really? Is that why bank interest rates have been at rock bottom for the past number of months. You wouldn't think it. Have a look at the FTSE 100 or 250. Link to comment Share on other sites More sharing options...
Gee SCREAMER !! Posted July 18, 2021 Share Posted July 18, 2021 1 hour ago, Ramslad1992 said: You have my most enthusiastic contrafibularities. Your contrafibularites will cause much pericabobulation on here. Link to comment Share on other sites More sharing options...
Gee SCREAMER !! Posted July 18, 2021 Share Posted July 18, 2021 1 hour ago, Ramslad1992 said: You have my most enthusiastic contrafibularities. Put a lot of that together in Ashbourne by all accounts, think his family were from their. Link to comment Share on other sites More sharing options...
Gringo Posted July 18, 2021 Share Posted July 18, 2021 5 hours ago, kevinhectoring said: I think you’re saying that MSD can petition for administration which is what I thought (I wasn’t asking whether they would, I agree with you on that). I think it’s that case that any creditor can petition in fact (but haven’t checked that) Creditors cannot petition for administration, they can only ask a judge to issue a winding up order, only the directors/owner can ask to be put into administration. MSD can can if the terms of the repayments or loan are not being met can call in the loan and demand immediate repayment and seize all of the assets they have a charge over, including the stadium and the club, this would seem a far more likely scenario. If there was going to be an administration, the directors could work with insolvency experts like RSM or Begbies ahead of the administration to engineer a prepack to sell it to a friendly party. However the ramifications are that unless all football related debts are paid the club would be kicked out of the football league, if that hurdle was overcome there is a 10 point deduction, which given the sadistic treatment we are currently receiving seems almost quite lenient. So to sum up in my opinion Mel would be better hanging on to the club, operating on a Burton Albion wage bill (about £6million) paying down debt like crazy and hoping to stay in the championship for 3or 4 seasons. Our income can be certainly be maintained at around £25-£30 million a year and so debts would reduce very significantly fairly quickly. We need to forget about promotion for many years and concentrate on survival, we cannot compete with the parachute cheats so let’s not spend like drunken sailors ever again, no matter what the supporters want. Link to comment Share on other sites More sharing options...
Carl Sagan Posted July 18, 2021 Share Posted July 18, 2021 As this seems a bit of a finance thread at the moment, I'll ask the question that's been gnawing away at me. Does our not selling season tickets suggest on any level that people are not confident we can continue to trade for the full duration of the season? That was my immediate thought when I heard about it. We're a club in a desperate financial mess so surely, if we could, we would do everything in our power to bring more money in? Would this be a call by our auditors if this were the case? Or are the reasons given by the club for not selling tickets bona fide? Link to comment Share on other sites More sharing options...
Gringo Posted July 18, 2021 Share Posted July 18, 2021 I believe the club is being fair to the supporters, the new rules are that any ground having more than 20,000 seats will have to reduce capacity to 80% and also ensure only fans with 2x vaccine or fresh test result allowed in the ground. interestingly Wycombe will be exempt as their new super ground only holds 17’500 now answering your financial question the auditors may not have confirmed that DCFC are a going concern and as such the directors could be guilty of trading insolvently, however I doubt this scenario and think the club wants to be fair with the fans. Link to comment Share on other sites More sharing options...
Gringo Posted July 19, 2021 Share Posted July 19, 2021 47 minutes ago, Charlotte Ram said: I believe the club is being fair to the supporters, the new rules are that any ground having more than 20,000 seats will ensure only fans with 2x vaccine or fresh test result allowed in the ground. interestingly will be exempt as their new super ground only holds 17’500 now answering your financial question the auditors may not have confirmed that DCFC are a going concern and as such the directors could be guilty of trading insolvently, however I doubt this scenario and think the club wants to be fair with the fans. I could not edit original post for accuracy so have changed the quote above to reflect the actual situation Link to comment Share on other sites More sharing options...
Arsene Titman Posted July 19, 2021 Share Posted July 19, 2021 I have to admit I’m confused. There are two new and contradictory articles from the Derby Telegraph this morning- one says that we have a transfer embargo and cannot sign anyone whilst the other states that we can sign free agents and loan players. Which is it? I am guessing that the central issue concerns the number of players “of professional standing” we already have and whether or not the academy players who played in the Chorley cup tie are counted as players of professional standing. Any clarification gratefully received. Link to comment Share on other sites More sharing options...
kevinhectoring Posted July 19, 2021 Share Posted July 19, 2021 7 hours ago, Charlotte Ram said: Creditors cannot petition for administration, they can only ask a judge to issue a winding up order, only the directors/owner can ask to be put into administration. MSD can can if the terms of the repayments or loan are not being met can call in the loan and demand immediate repayment and seize all of the assets they have a charge over, including the stadium and the club, this would seem a far more likely scenario. If there was going to be an administration, the directors could work with insolvency experts like RSM or Begbies ahead of the administration to engineer a prepack to sell it to a friendly party. However the ramifications are that unless all football related debts are paid the club would be kicked out of the football league, if that hurdle was overcome there is a 10 point deduction, which given the sadistic treatment we are currently receiving seems almost quite lenient. So to sum up in my opinion Mel would be better hanging on to the club, operating on a Burton Albion wage bill (about £6million) paying down debt like crazy and hoping to stay in the championship for 3or 4 seasons. Our income can be certainly be maintained at around £25-£30 million a year and so debts would reduce very significantly fairly quickly. We need to forget about promotion for many years and concentrate on survival, we cannot compete with the parachute cheats so let’s not spend like drunken sailors ever again, no matter what the supporters want. I think any old creditor can ask a judge to appoint an administrator. But they can’t appoint out of court. No the directors can’t sell to a ‘friendly party’, because MSD has security. MSD could engineer this though and if they were working with the directors they could actually do it without triggering administration. But I agree with you, that’s not going to happen for all sorts of reason. I more optimistic than you - I think we’ll be back challenging for promotion in 22/23 if we get through this season Link to comment Share on other sites More sharing options...
Philmycock Posted July 19, 2021 Share Posted July 19, 2021 10 hours ago, Tyler Durden said: Really? Is that why bank interest rates have been at rock bottom for the past number of months. You wouldn't think it. They've been low since the financial crash in 2008 Link to comment Share on other sites More sharing options...
May Contain Nuts Posted July 19, 2021 Share Posted July 19, 2021 1 hour ago, Arsene Titman said: I have to admit I’m confused. There are two new and contradictory articles from the Derby Telegraph this morning- one says that we have a transfer embargo and cannot sign anyone whilst the other states that we can sign free agents and loan players. Which is it? I am guessing that the central issue concerns the number of players “of professional standing” we already have and whether or not the academy players who played in the Chorley cup tie are counted as players of professional standing. Any clarification gratefully received. Link to comment Share on other sites More sharing options...
RoyMac5 Posted July 19, 2021 Share Posted July 19, 2021 9 hours ago, Carl Sagan said: As this seems a bit of a finance thread at the moment, I'll ask the question that's been gnawing away at me. Does our not selling season tickets suggest on any level that people are not confident we can continue to trade for the full duration of the season? That was my immediate thought when I heard about it. We're a club in a desperate financial mess so surely, if we could, we would do everything in our power to bring more money in? I saw a suggestion on Twitter that it might be to do with not wanting to take on long term credit card payments? Because of the possibility of their being chargebacks/Section 75s. TBH I can't remember exactly what but it was something to do with 'credit worthiness'. Perhaps we don't have any?! Link to comment Share on other sites More sharing options...
Tyler Durden Posted July 19, 2021 Share Posted July 19, 2021 4 hours ago, Philmycock said: They've been low since the financial crash in 2008 There's low and there's rock bottom. I used to get 3% interest from a current account about 4 years ago now you're lucky to get 0.1%. Over the same period you could get nearly 2% interest on a 90 day notice account now you'll be lucky to get 0.6%. Past few months have seen savings rates plummet to new time lows. Link to comment Share on other sites More sharing options...
cosmic Posted July 19, 2021 Share Posted July 19, 2021 After the EFL ruling, I saw a few posts (even from that Price of Football bloke who seems to wish us failure) explaining that actually our missing accounts will work out fine (something about an extra 30 million we'd find by ditching our amortisation technique?). I appreciate these things take time to file, but given how dire our situation is, wouldn't you think we'd have a team working all hours to get this done so we can end the embargo and start building a squad (even if it's only the freebies)? The longer this is being dragged out the more I fear we know we're fooked, and are just looking for ways to dodge another bullet. Link to comment Share on other sites More sharing options...
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