Notice to appoint administrators

[NottsRam77]

6 minutes ago, DCFC27 said:

I don’t think that will be the case, I have a feeling MSD will step in and run the club fora few years until they can sell on. 

Wassalls gone?? 
 

tbh if we were retaining one person id keep him

pop him in as manager get back to basics nigel clough style .. players with the right hunger and desire to learn .. anyhow i digress

edit: sorry i quoted the wrong person 

Edited September 18, 2021 by NottsRam77

[Warwick Ram]

There will be something in this for Mel by going into administration. He will have some benefit from it.

Will it clear his debts? Does it find a buyer quicker? Does it make things awkward for the EFL?

I don’t know but the cynical side of me says this has been done to benefit Mel in some way.

[CornwallRam]

1 minute ago, NottsRam77 said:

Wassalls gone?? 
 

tbh if we were retaining one person id keep him

pop him in as manager get back to basics nigel clough style .. players with the right hunger and desire to learn .. anyhow i digress

edit: sorry i quoted the wrong person 

The administrators will have to ensure that income exceeds expenditure. Unless a buyer emerges quickly and agrees to fund the running costs, the club will have to instantly live within its means.

That means they will look to reduce every non-essential cost. It's quite possible that the academy will close completely and Moor Farm abandoned, with training going on at Pride Park and local parks.

[Boycie]

Anyone seen Sam Rush at B&Q?

[GB SPORTS]

45 minutes ago, ilkleyram said:

Somewhere in the UK somebody, probably an accountant, is waking up this morning and is about to become the most important person in our (footballing) lives.  Our Administrator.

They will have a number of tasks but the first job after introducing themselves will be to understand the figures and then work out a way of reducing and closing the (roughly) £300,000 per week difference between our income and our expenditure.  Most of that will be in wages and most of those wages will be largely untouchable because they relate to the players.  So some tough decisions will have to be made should any players be on a pay as you play contract, or near to an appearance generating payment to the club they left to join us, or a bonus payment or, indeed, anything else that serves to increase our outgoings. There will be negotiations with the players about taking reductions in pay, short or long term.  Some may be more willing than others. Wayne might find that the Administrator is helping him to pick his team.

Then there will be those whose wages are not so protected - the canteen staff, ticket office staff, groundsmen, physios, Academy staff and the rest.  If anyone leaves they won’t be replaced even if that means that pitches at Moor Farm don’t get mowed or prepared, even if the Cat 1 status is lost. Staff on furlough won’t be coming back, redundancies will happen.

After that comes the extraneous costs.  16,000 crowds?  Shut the North Stand.  Ticket prices? Up £5 per seat and £10 for away fans. New equipment for the gym? Cancel the order.

Alongside all that will be a wish to sell the club as a going concern.  There will be interest - from the numpties who are taking the mickey to those who are genuinely interested but have no money and (hopefully, please dear God) maybe one or two consortia who genuinely have an interest and have the resources to back it up.  But football’s general situation and ours in particular could, just could, generate no interest at all. If that’s so then the game is up.  

And what about the other players in this saga.  Expect FA from the FA, the custodians of our game, and nothing from the Department of Media and Sport or local Councils nor from the source of all this, the Premier League. There will be a collective shoulder shrug.  Sad but not our problem guv. The gleaming, sparkly football family's latest divorce. The PFA will want to ensure that their members are sorted out first and foremost.

Expect no positive help at all from the EFL.  They will hand out point deductions like confetti; they will apply their rules extra rigorously to try to prevent us from being taken over by the 3 Amigos part 2 - it will be slow and silent; they will take their time to agree a 2 year business plan should we successfully gain new owners and then monitor it strictly; they will make it impossible for us to buy German centre halves or even pay Shaun Barker fees; they will ensure that our ex-captain is rewarded for his drunken escapade.  They genuinely won’t want to lose us from the leagues (though they won’t care if we fall through them as Bolton did) but neither will they go out of their way to help.  It’s too important for them to have a big scalp to draw the others into line and to be seen to be acting tough rather than to go out of their way to be helpful. Good luck Reading and Swansea and others.

So if we are to have new owners they will themselves have a tough job to sort through all that lot.  It will take time and patience from them, and especially from us.  

We can help in the short term - buy home match tickets even if you’re not intending to go to the match, buy a new season ticket if you can afford to lose the money; help Wayne develop a siege mentality - us v them; support the players on the pitch, make them feel loved and wanted; pressure the EFL at the appropriate moments; pray to whomsoever your God may be for a bit of luck; hope that ‘the emergence of a financially sustainable picture’ means what it suggests and makes us attractive to a buyer; avoid the rumour mills on Tweeter and the rest (they’re really not good for your health)

We could do with Wayne staying, for this season at least.  His name will help to make us more attractive around the world; we are lucky that the transfer window is 14 weeks away; we will probably need the players to be flexible about their pay; and above all we will need a good Administrator, preferably one that will help manage the EFL, the PFA and generate interest from buyers.

Buckle up for the ride.  It might get rough.

Good post Ilkley, I am hoping Gerald Krasner and his acquaintances are appointed.

He has a good record for rescuing football clubs in the same position that we find ourselves.

but you are absolutely right it will get worse before it gets better.

Just one further point It may be better to out the money in the club once the administration has gone through. This way the current owner and directors won't be able to appropriate it.

But you're absolutely hang on. COYR

Edited September 18, 2021 by I DONT MIND

[Ghost of Clough]

38 minutes ago, simmoram1995 said:

So first of all they’ve got rid of Darren Wassell

as for assets 

every player will be put up up for sale 

roos = £200-300,000

marshall= free 

Byrne = £250-300,000

jagielka= End of contract 

davies = end of contract 

forsyth = £100-150,000

Buchanan = £400-800,000

sibley =£ 500,000 - 1 m 

Bird = £ 500,000- 1.2 m

shinnie = £300-450,000

lawrence = £750,000- 1.25 m

Joz = £ 1.5- 1.75 m- 2 m

knight = £500,000- 750,000

bielik= £500,000- 1.5 m

baldock= end of contract 

CKR = £100,000

Obviously some of these figures are ludicrous but as administrators I think they’ll take what they can 

 

 

If we sell some of those players for what you state, we'll be back with the EFL for failing P&S again

[kevinhectoring]

58 minutes ago, G STAR RAM said:

So if we are so close to being sustainable why would MM choose to pull the plug now?

We’ve seen irrational decisions from him before   Fact is, Gibson had him over a barrel -  forcing him to put in more £, and unable to sell  whilst the EFl machinery twiddled its thumbs, the club reps on the board dragging feet. Must have been driving him mad as he transferred cash each month
 

Forlornly hoping that instead this is a cunning plan 

[The Scarlet Pimpernel]

So, do we have any liquidity going forward from now? Who pays the September wages etc. Has the recent season ticket sales provided enough cash? 

[NottsRam77]

25 minutes ago, Boycie said:

Anyone seen Sam Rush at B&Q?

U remember when everyone thought the sun shined out of his ass ? 

[NottsRam77]

36 minutes ago, Warwick Ram said:

There will be something in this for Mel by going into administration. He will have some benefit from it.

Will it clear his debts? Does it find a buyer quicker? Does it make things awkward for the EFL?

I don’t know but the cynical side of me says this has been done to benefit Mel in some way.

No to my knowledge he walks away with nothing apart from writing off 180m and perhaps the token £1 someone will give the admin to take the club and its mess on 

[I am Ram]

The EFL will appoint Gibson, knowing our luck ?

[AGR]

9 hours ago, Spanish said:

At least we won’t have to pay for cocu and keo

#buildastatureformel

What’s stupid comment about Cocu. Shouldn’t have given him the contract and sacked him if we couldn’t afford it

[DCFC27]

2 minutes ago, NottsRam77 said:

No to my knowledge he walks away with nothing apart from writing off 180m and perhaps the token £1 someone will give the admin to take the club and its mess on 

Yeah, he doesn’t have to carry on funding the club and leaves it with huge amount of debt. If the debt is as high as reported it doesn’t look like he’s put a penny into the club, looks like he’s just leveraged it all this time and suddenly we can’t afford the repayments and day to day running costs. 

[Ramtastic ones]

1 hour ago, simmoram1995 said:

So first of all they’ve got rid of Darren Wassell

as for assets 

every player will be put up up for sale 

roos = £200-300,000

marshall= free 

Byrne = £250-300,000

jagielka= End of contract 

davies = end of contract 

forsyth = £100-150,000

Buchanan = £400-800,000

sibley =£ 500,000 - 1 m 

Bird = £ 500,000- 1.2 m

shinnie = £300-450,000

lawrence = £750,000- 1.25 m

Joz = £ 1.5- 1.75 m- 2 m

knight = £500,000- 750,000

bielik= £500,000- 1.5 m

baldock= end of contract 

CKR = £100,000

Obviously some of these figures are ludicrous but as administrators I think they’ll take what they can 

 

 

The administrators role is to keep the company going until a buyer is found or put the club into liquidation if it can't be maintained as a going concern. Selling players does not keep the company going, or maintain it as a going concern. The player sale would be part of the liquidation process.

[Warwick Ram]

9 minutes ago, NottsRam77 said:

No to my knowledge he walks away with nothing apart from writing off 180m and perhaps the token £1 someone will give the admin to take the club and its mess on 

So he doesn’t have to repay any of the 180 million? If so then this is why he is doing it. It gets him out and he becomes debt free.

If this is correct that what a fine figure of an owner and fan he is. Leverages the club with debt, massive points deduction, nailed on relegation and years to recovery.

He gets to walk away debt free! The debt he created.

This is why people declare bankrupt as it usually wipes their debts and they start again.

Edited September 18, 2021 by Warwick Ram

[cosmic]

Mel Morris, Jeff Bezos, Lex Luther.

Never trust a bald millionaire. 

[Ghost of Clough]

How much do we owe?

It was reported that we owed the following amounts:

- £10m Cocu and Keogh

- £20m HMRC

- £20m MSD 

[tinman]

The thing I don’t get is Mel is our biggest creditor. Administration doesn’t help him one bit.  Unless it’s because he’s literally run out of free cash to keep putting in the money each month, There must be something else to this. 

We know he doesn’t want to sell to other local businessmen as he doesn’t want to lose face with those guys coming in to ‘save’ the club, so administration is surely an even more embarrassing option than that. 

i can only hope that this is some ballsy move to flush out whatever is causing hold ups in takeovers and/or agreeing a deal with the EFL before the administrators are actually appointed, presumably next week. 

[CBRammette]

1 hour ago, ilkleyram said:

Somewhere in the UK somebody, probably an accountant, is waking up this morning and is about to become the most important person in our (footballing) lives.  Our Administrator.

They will have a number of tasks but the first job after introducing themselves will be to understand the figures and then work out a way of reducing and closing the (roughly) £300,000 per week difference between our income and our expenditure.  Most of that will be in wages and most of those wages will be largely untouchable because they relate to the players.  So some tough decisions will have to be made should any players be on a pay as you play contract, or near to an appearance generating payment to the club they left to join us, or a bonus payment or, indeed, anything else that serves to increase our outgoings. There will be negotiations with the players about taking reductions in pay, short or long term.  Some may be more willing than others. Wayne might find that the Administrator is helping him to pick his team.

Then there will be those whose wages are not so protected - the canteen staff, ticket office staff, groundsmen, physios, Academy staff and the rest.  If anyone leaves they won’t be replaced even if that means that pitches at Moor Farm don’t get mowed or prepared, even if the Cat 1 status is lost. Staff on furlough won’t be coming back, redundancies will happen.

After that comes the extraneous costs.  16,000 crowds?  Shut the North Stand.  Ticket prices? Up £5 per seat and £10 for away fans. New equipment for the gym? Cancel the order.

Alongside all that will be a wish to sell the club as a going concern.  There will be interest - from the numpties who are taking the mickey to those who are genuinely interested but have no money and (hopefully, please dear God) maybe one or two consortia who genuinely have an interest and have the resources to back it up.  But football’s general situation and ours in particular could, just could, generate no interest at all. If that’s so then the game is up.  

And what about the other players in this saga.  Expect FA from the FA, the custodians of our game, and nothing from the Department of Media and Sport or local Councils nor from the source of all this, the Premier League. There will be a collective shoulder shrug.  Sad but not our problem guv. The gleaming, sparkly football family's latest divorce. The PFA will want to ensure that their members are sorted out first and foremost.

Expect no positive help at all from the EFL.  They will hand out point deductions like confetti; they will apply their rules extra rigorously to try to prevent us from being taken over by the 3 Amigos part 2 - it will be slow and silent; they will take their time to agree a 2 year business plan should we successfully gain new owners and then monitor it strictly; they will make it impossible for us to buy German centre halves or even pay Shaun Barker fees; they will ensure that our ex-captain is rewarded for his drunken escapade.  They genuinely won’t want to lose us from the leagues (though they won’t care if we fall through them as Bolton did) but neither will they go out of their way to help.  It’s too important for them to have a big scalp to draw the others into line and to be seen to be acting tough rather than to go out of their way to be helpful. Good luck Reading and Swansea and others.

So if we are to have new owners they will themselves have a tough job to sort through all that lot.  It will take time and patience from them, and especially from us.  

We can help in the short term - buy home match tickets even if you’re not intending to go to the match, buy a new season ticket if you can afford to lose the money; help Wayne develop a siege mentality - us v them; support the players on the pitch, make them feel loved and wanted; pressure the EFL at the appropriate moments; pray to whomsoever your God may be for a bit of luck; hope that ‘the emergence of a financially sustainable picture’ means what it suggests and makes us attractive to a buyer; avoid the rumour mills on Tweeter and the rest (they’re really not good for your health)

We could do with Wayne staying, for this season at least.  His name will help to make us more attractive around the world; we are lucky that the transfer window is 14 weeks away; we will probably need the players to be flexible about their pay; and above all we will need a good Administrator, preferably one that will help manage the EFL, the PFA and generate interest from buyers.

Buckle up for the ride.  It might get rough.

"buy home match tickets even if you’re not intending to go to the match" - yes good initial plan to help jyst hadnt thought of that

[S8TY]

1 hour ago, atherstoneram said:

I wouldn't say spending £1.3m - £1.5m per month is seen as close to being sustainable

yes but considering our glorious owner mentioned that figure I don't believe a word he says ...he got us in this mess through bad management from the top....no excuses.....he is the owner yet takes us into admin......a total disgrace and wish he'd never set foot in PP....stick to silly phone games!!