Notice to appoint administrators

[BramcoteRam84]

24 minutes ago, Rev said:

Surely rock bottom is we don't find a buyer, and cease to exist at all?

We've not found a buyer after all after two years on the market.

Administration solves nothing without a new owner.

Can’t see that happening really can you? Surely not? Really? Please no? Oh god ???????

[PendineRam]

We've had a go at Liquidation a couple of times before and failed to quite get over the line, perhaps it's 3rd time lucky (unlucky)!!!

Thanks Mel, welcome to the Maxwell fan club! 

[plymouthram]

39 minutes ago, bimmerman said:

moved between numerous areas with work including prospect/budeux/roborough/stonehouse...my facts are right from my experiences,its a dump to be avoided. had numerous knives pulled on us whilst there(strangely mostly in roborough) well away from there,left about a year ago

The facts I was referring to, was the location of the ground in the distance to hookers, druggies and the recent shooting of 5 people. All which are over a mile or further away. Now you mention knife crime, which is in every city, very surprised you state Roborough. Anyway for a point of interest Calvin Bowler in Derby is doing a protest walk on October 2nd against rising knife crime in the city of Derby.

[Leicester Ram]

You can’t walk the tightrope and complain when a gust of wind blows you off.

[Ash_SJ]

10 minutes ago, bimmerman said:

yeah...when you think about it..

no stadium

an over the top training ground and academy setup that costs £££

few saleable assets-bielik/bird/knight/sibbo/byrne. captain out of contract soon as well

threadbare squad and no real ability to slash costs any further

realistically,if no buyer is found short term and no fan consortium,we very well could be staring down the barrel of liquidation to pay off footballing debts to exit administration. it could end up being quite bleak

 

chin up though, could be worse,could support forest

I dont think liquidation will happen at all

DCFC has had low debts but its has been going up since Covid whereas the company that owns DCFC has £60m debt to Mel personally

I think Mel will try to clear the debt as much as possible on the club(going to administration) and move forward trying to secure the sale of the holding club for a reduced fee, unless he is arrogant enough to want his full investment back

However as I said before we aren't an appealing prospect, there has been a huge lack of transparency with the club and there has been reluctancy to show anything. 

We dont know who owns the club and whether a relegation, would mean a reduced rental fee

We dont know the state of the training ground, there is said to be a loan taken out against it and land charge on this or the stadium, I would say our training ground and academy, aren't as good as made out by people in Derby, we are one or two levels behind the top PL academies(Tottenham, Chelsea, Man City and etc.) and below the established academies(Southampton, Fulham and etc.)

This is why we are struggling to shift the club. Potential investors are finding this stuff out deep in to the process rather than it be readily available

I said this would happen in March, despite people saying otherwise.

IMO, the biggest failure was not doing this and the points deduction last season, we could have started a fresh last season and moved forward with a clean slate. Mel has too many smoke and mirrors, that its hurting the club and unfair to the fans

[Eddie]

38 minutes ago, Rev said:

Is it cos he's a Bamford?

I don't think that anything Bamford has done (even being a gump AND a dirty) comes close.

[vonwright]

42 minutes ago, sage said:

I think we may have to go into administration, but if that was 100%, you'd just go in. 

He has done it like this as the last roll of the dice to try and get a deal with the EFL, who do not want another club in administration.

I'm not saying it will work or that we won't end up in administration, but in my opinion, it's a last ditch effort to find a way out of all this.

 

Okay so the club say nothing about their finances for months, despite loads of negative speculation. Then they file documents in preparation to go into administration. Journalists find out and the EFL issue a statement saying 'That is fine, when it happens we will apply a 12 pts deduction'. Finally DCFC put out a statement saying 'Okay yes it's true but it IS ALL THE EFL'S FAULT'.

It just doesn't feel like a negotiating strategy, does it? What are the EFL supposed to say in response? 'Sorry Mel we'd never thought of it like that, please don't go?' And negotiating for what? The EFL aren't going to pay our bills. They aren't going to give Mel his money back. We were supposed to be negotiating over the size of the penalty for our dodgy accounts. If threatening administration was a tactic relating to _that_, it would be a very odd one. 'You want 9pts, we want six. Very well. You've left us with no choice but to take an additional 12. Good day sir!'

 

Edited September 18, 2021 by vonwright

[bimmerman]

26 minutes ago, plymouthram said:

The facts I was referring to, was the location of the ground in the distance to hookers, druggies and the recent shooting of 5 people. All which are over a mile or further away. Now you mention knife crime, which is in every city, very surprised you state Roborough. Anyway for a point of interest Calvin Bowler in Derby is doing a protest walk on October 2nd against rising knife crime in the city of Derby.

fair walking distance...anyway not to get dragged into semantics,i think i very much have a different perspective of plymouth then you and am grateful to never have to go there again..line of work i do and the 'covid' desperation effect clearly bought out the worst in people

and i once got offered a blowie in home park car park in exchange for a 20 quid note. at least she was working i suppose?

just for clarity-i dont live in Derby,live in east devon out in the sticks 

 

Edited September 18, 2021 by bimmerman
added an anecdote,i blame paterson

[Eddie]

16 minutes ago, bimmerman said:

and i once got offered a blowie in home park car park in exchange for a 20 quid note. at least she was working i suppose?

Yeah, sorry about that. The cashpoint wasn't working.

[Ghost of Clough]

3 hours ago, G STAR RAM said:

Especially given that the club statement mentions our sustainable model.

Let me guess...yet another lie!

I assumed that meant once current debts are cleared and covid impact removed, we'd more or less be running at breakeven. Hard to argue against that with our current wage bill

[Gee SCREAMER !!]

2 hours ago, sage said:

Out of interest, does anyone know what Notice to Appoint Administrators means?

Why companies do it, and why MM has done it?

 

He can't be arsed to asset strip the club to payoff creditors himself as we plummet to League 1, so he'll pay someone to do it.  Perhaps one of the financial wizards he's employed over the last few years could have a go.

[Gee SCREAMER !!]

2 hours ago, sage said:

As I said, I'm not saying this will work or it's a good idea, but there is more to this than 'we are going into administration'

That may well be the endgame, but I think there are potential twists and turns to come.

 

There honestly isn't.  If you go into administration your basically saying you have debt you can't service.  It was against league rules to go from one season to the next in admin.  The only exception given to this, was dispensation for Leeds who should have gone out of business.  If you see them talking baalocks over the next week, remember they did it and worse than we have by circumnavigating the rules whilst in admin.  As for supposedly pooping on there floor, when they won at Watford in the playoffs there players openly admitted to not just crapping on the floor but spreading it all over the walls in some form of dirty protest .  Vile club.

[IlsonDerby]

6 hours ago, IronRam 140.6 said:

Administration clears debts that investors don't want to take on. Mel loses loads on DCFC, part of the deal is to pay off Dell out of his own pocket. Takeover happens for a quid. New investors can invest in the team not historical debt. In a years time the ground gets sold back to the club for 70million and Mel gets his sale price. 

 

A very shyster way of doing it. But I would probably do the same if that's what I was left with.

Administration isn’t the get out of jail free card people are suggesting. It’s a 2 year transfer embargo. It’s a massive points deduction. It is LIQUIDATION but if we cannot pay out liabilities with the potential of ceasing to trade. 

This is as bleak as any time in our history. Even when the chains were on the ground. Ultimately it’s much harder in 2021 to find a knight in shining armour to come and save us as the costs of running a club mean making a loss. 

[CocuBarmyArmy]

Was on a night out tonight, one of my mates told me, devastated wouldn’t come close. 
 

With that being said we need perspective here, stuff will come out over the next few days that should present a clearer picture of what we are actually facing. How bad is the tax bill for example? Are we looking at -12 points or -21? With out any financial information it’s also pretty hard to see if a fan led takeover is possible.

Given that Derby’s issues have been so well documented in recent years, the fact that potential buyers were still even willing to engage with the idea of buying it is surely positive now we are at a rock bottom price. Early signs seem to suggest MSD are competent as-well which is nice, I can’t imagine they’d want to asset strip the club as that would make it unsellable? I’m no expert on finance so maybe I’m wrong.

This is awful news, but there’s a difference between awful news and catastrophic news and we simply do not know enough yet, really hoping the journalists can get some more info tmmrw.

[kevinhectoring]

6 hours ago, StrawHillRam said:

Mel’s decided to throw his toys out of the pram give two fingers to football 

He found himself in a position where Gibson etc had the power over him. The power to stop a sale and to force him to shovel cash into a basket case.

 
Irony is, if the DC had given us a 9 point deduction instead of a 100k fine, all this might have been avoided 
 

[kevinhectoring]

6 hours ago, Leeds Ram said:

then why thank MSD in the club statement if they've forced his hand into the administrators? 

Because if Mel HAS pulled the plug completely, MSD will be funding everything from now on 

[Taribo]

I do wonder if we are now (unofficially) owned by Dell. Default on the loan and the club is ours? 
 

[DerbySmog]

7 hours ago, Mckram said:

I think we can still sign players, it would just be under strict terms. Remember at least a season of the embargo would be league 1…so if we did manage to keep the team we have now then you’d expect them to do ok in league 1 with a few more freebies next season. 

Any players with value and interest would be potentially have to be sold in Jan if still under control of the administrator. 

[DerbySmog]

7 hours ago, G-Ram said:

Probably get 10p for every £1 left we owe or something daft 

Not true. All football related debts still have to be paid in full. This includes outstanding transfer fees, fines (to EFL or HMRC if outstanding) ,player and coaching staff wages. Failure to be able to do this mean the club is insolvent and luquidation would follow. 

[Van der MoodHoover]

1 hour ago, kevinhectoring said:

Because if Mel HAS pulled the plug completely, MSD will be funding everything from now on 

According to the EFL rules they will only be allowed to do so if they are not making the situation for the the football "super creditors" worse. 

If it's true that the club are losing money every month NOW, then it looks as though the administrator's will not be given much time and the EFL will press for insolvency and liquidation. 

If this move is indeed a last attempt by MM to game the EFL rules and force losses to be shared around then I worry that he has previous in misunderstanding what they are able to do within their rules.