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Notice to appoint administrators


DerbySmog

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4 minutes ago, DCFC1388 said:

Just trying to think of some positives from all of this...

Hopefully all possible deductions apply to this season meaning next season we can start from scratch

Relegation is out of the players & Rooneys hands, almost a free hit of a season to try new things out & give youth minutes

Mel will finally be gone

Just hoping we have someone competent take us over, no point deductions apply to next season & that we actually have a club to support next season.

Yes, only issue is that embargo rules will now continue for two years...

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13 minutes ago, CornwallRam said:

Yes, those are the terms of the charges. It may be possible that the club still won't enter administration. Serving the notice will have given MSD the chance to takeover the club. I believe it will be their choice if they allow the administration to proceed. They might want it to slash the debts. They might want to avoid it if they think we might survive in this division. 

That being the case, why have the club directors issued the statement they have? 

Wouldn't they just announce their resignation together with a change of control of dcfc to MSD? 

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3 minutes ago, Shang said:

Incredibly sad news, I hope everyone here is dealing with it okay. It seems from Twitter that the last straw was the falling through of a takeover deal last week, meant Mel had enough and decided to enter administration. We've probably been told by a number of potential buyers that we have too much debt and risk and they're not willing to take the chance on our club. Interesting that the statement in the last paragraph says that we were denied covid relief funds (around 7 million) that were provided to every other club.

The scary thing now is that anyone could snap the club up for a rock bottom price, a new owner who could be a lot worse for us than Mel. We've all heard horror stories of owners buying clubs and intentionally running them into the ground and flog the land and building assets off to make quick cash. I also have absolutely no trust in the EFL making sure our new owner is "proper" for our football club.

We don't have any land or buildings to sell off

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The humour is fun to read. Adversity is the best source for good comedy.

But I feel sick. I'm in tears.

I've been through the Tommy Doc times, ripping apart the great team, the division 3 days, the Maxwell era, Lionel and the co-op affair, the three amigos, 11 points. But I genuinely feel this is worse than any of those.

Administration is not a fast track to a better future. Working people will really suffer as a consequence.

We will lose all those promising youngsters that have kept us interested over the past couple of years of struggle.

This is truly heartbreaking. I am really gutted.

Edited by IslandExile
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1 minute ago, Van der MoodHoover said:

That being the case, why have the club directors issued the statement they have? 

Wouldn't they just announce their resignation together with a change of control of dcfc to MSD? 

It might be a legal thing. The club might have to publicly state it's intention of entering administration as other businesses have to before it triggers the contract. If this is correct it's just a step in the process to get things moving.

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56 minutes ago, Jase116 said:

Why do I feel like there is a lot more to come out in the wash, I fear we won’t have a football club very soon, hate to say it, but we could be the next Bury ?

Must have been a curse on the 1903 cup final in that case.

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6 minutes ago, Shang said:

Incredibly sad news, I hope everyone here is dealing with it okay. It seems from Twitter that the last straw was the falling through of a takeover deal last week, meant Mel had enough and decided to enter administration. We've probably been told by a number of potential buyers that we have too much debt and risk and they're not willing to take the chance on our club. Interesting that the statement in the last paragraph says that we were denied covid relief funds (around 7 million) that were provided to every other club.

The scary thing now is that anyone could snap the club up for a rock bottom price, a new owner who could be a lot worse for us than Mel. We've all heard horror stories of owners buying clubs and intentionally running them into the ground and flog the land and building assets off to make quick cash. I also have absolutely no trust in the EFL making sure our new owner is "proper" for our football club.

Have we any assets useful for anything other than football. Council would not dare allow change of use for PP or training ground (which is on green belt anyway). Players will be either sold or not, but you can always get more of them.

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