Notice to appoint administrators

[Ravabeerbelly]

In 2009 Portsmouth we’re given special permission by the premier league to sell players outside the transfer window in order to raise funds after going into admin.

Not sure how much of a precedent that set

Edited September 18, 2021 by Ravabeerbelly

[Crewton]

1 hour ago, atherstoneram said:

And so would we if our affairs had been in order.

Of course. But I'd like to know what criteria we failed on, wouldn't you? And considering that such a grant would be considered a repayable football debt, I'm not sure what the EFL would have lost by extending it to us.

Denying a lifeline to a drowning man purely because he's broken the rules seems to be a particularly obtuse way for a ruling body to protect the health of one of it's members.

I appreciate that some people are annoyed with posters who blame the EFL for everything, but blowing them off as a counter-point doesn't seem a balanced approach either.

[Eddie]

4 hours ago, Taribo said:

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

As opposed to being owned by Del Boy?

[Ghost of Clough]

11 minutes ago, Crewton said:

Of course. But I'd like to know what criteria we failed on, wouldn't you? And considering that such a grant would be considered a repayable football debt, I'm not sure what the EFL would have lost by extending it to us.

Denying a lifeline to a drowning man purely because he's broken the rules seems to be a particularly obtuse way for a ruling body to protect the health of one of it's members.

I appreciate that some people are annoyed with posters who blame the EFL for everything, but blowing them off as a counter-point doesn't seem a balanced approach either.

Wasn't it because we were late paying wages once?

Which seems strange that a club already struggling financially is excluded from getting necessary help.

[Big Trav]

Apparently an Efl rule somewhere states that penalties (-12 points) are not applied if the club can prove that there have been ‘unforeseeable or unavoidable events’. And this is why the statement takes no blame but also blames everyone else 

[SSD]

This hurts more because this isn't some dodgy, secretive ownership from a foreign country putting the club into administration, it's a local man. A man who i thought had the best interests in the club at heart. We all make mistakes, this is a huge mess. We're all human. What angers me more is a local Derby man has taken zero responsibility for this mess. Zero. Blaming COVID, blaming the EFL which is a valid argument. But to not have the integrity to accept ultimate responsibility for the financial mess of the club is a disgrace. He gambled and failed. Have the guts to stand up and apologise to the supporters tomorrow or next week. Supporters who have backed this man through thick and thin. We trusted you Mel. We trusted you. And you've not had the decency to communicate clearly to the fan base, now we're left in an unknown situation where worse case scenario there will be no more Derby County.

Shame on you.

 

[Crewton]

Just now, Ghost of Clough said:

Wasn't it because we were late paying wages once?

Which seems strange that a club already struggling financially is excluded from getting necessary help.

That's what I was thinking. If the EFL was a normal creditor, you could understand them declining a lending request. But in their role, this seems to be simply a form of punishment that has contributed at least in part to this move being implemented. Their protestations aren't convincing. If they stick us for another 9 points without explaining precisely the basis on which they're doing it, I think journalists at the very least should be grilling them about their behaviour. 

[Big Trav]

‘Clubs can lodge an appeal against a decision by the EFL to impose a points deduction penalty arising from an insolvency event I.e. application of a company voluntary agreement (CVA). Further under section 3 of the regulations, the league sub-section 12.3.10 (b) an appeal can only be lodged on the grounds that the recent insolvency event arose solely as a result of ‘Force Majeure’ (an unforeseeable and unavoidable event)’

 

Maybe this is the route Mel is trying to go down. It makes a lot of sense as the statement blamed covid and the efl which would both count as ‘Force Majeure’ 

Could this be our lifeline?

[CollyerDCFC]

I know we really want hope at this time, but I really can't see an appeal of that nature be even close to working. 

[Gone]

21 minutes ago, Eddie said:

As opposed to being owned by Del Boy?

If only he could find the Harrison Lesser Watch (of you know you know)

[CornwallRam]

8 minutes ago, Crewton said:

That's what I was thinking. If the EFL was a normal creditor, you could understand them declining a lending request. But in their role, this seems to be simply a form of punishment that has contributed at least in part to this move being implemented. Their protestations aren't convincing. If they stick us for another 9 points without explaining precisely the basis on which they're doing it, I think journalists at the very least should be grilling them about their behaviour. 

I suppose the football creditor rule only fully applies if the club exists administration positively. If it leads to liquidation, they would have lost at least a percentage. 

[derby8]

A prospective buyer likely to bide their time. Derby likely to be relegated, 39 dead rubber games to go. As time goes by any buy-out sum likely to fall further. Administrator will establish the overall financial picture. Buyer would monitor position, assess any competitors, watch out for possible liquidation, come in at the optimum time.  Meanwhile planning for next season with a view to formally taking over a few months into 2022.

Expect to get DC club, freehold of PP stadium, take over lease of training ground.

[BathRam72]

Maybe but isn't that just dragging it out even longer with us still under an embargo. So nothing really changes apart from we can't move on

[Boycie]

Let force their door at the EFL.

 

[oldtimeram]

Just accept the penalty, get rid of Morris and start again from scratch in League 1

[Philmycock]

1 minute ago, oldtimeram said:

Just accept the penalty, get rid of Morris and start again from scratch in League 1

How many points deducting are you accepting?

[RadioactiveWaste]

If they're planning this it would explain the covid-19 riddled statement, but I don't see it flying if I'm honest - if it did they'd be other clubs jump on it as a great cost cutting wheeze without the penalty.

 

[Angry Ram]

1 hour ago, NottsRam77 said:

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

I still do.. 

[derby8]

5 minutes ago, RamLad1884 said:

Not a financial expert, but am I right in thinking that under insolvency rules the administrator will carry out an audit on the club? 

May be whatever Mel has been taking out of the club or leveraging as loans from himself may be scrutinised anyway. Given the near constant loopholes in his tenure it wouldn't surprise me if he gets caught out by an external audit of the club anyway. 

Bright side that the money 'owed' to him may not be legal and scope to challenge them anyway. 

l would prefer buying from an administrator than the current owner. The full financial position should be exposed, a settlement figure agreed, and the new owner starts afresh. For me the settlement would have to include the freehold of PP stadium, otherwise no deal.

[SamUltraRam]

Does this open the door for Red Bull to buy us. 

RB Derby really trips off the tongue