Notice to appoint administrators

[Stive Pesley]

22 minutes ago, Tyler Durden said:

Incidentally, in case anyone had forgot Morris did make some charity donations once. 

Am sure all of the staff potentially losing their jobs will be heartened to hear that. 

Yep - he donated £12m to his own charity. 5 years later and that charity still has £9m of it sat in the bank

Maybe the charity will give grants to all the people losing their jobs?

 

[Van der MoodHoover]

1 minute ago, Rammy03 said:

 

A bit incoherent but the sentiment was decent and sounded heartfelt. 

[atherstoneram]

23 minutes ago, Tyler Durden said:

Incidentally, in case anyone had forgot Morris did make some charity donations once. 

Am sure all of the staff potentially losing their jobs will be heartened to hear that. 

I wonder if the club can apply for one of his sports grants?

[Guest]

I have not read all of the responses so forgive me if some or all of this has been said before.  This is written from my own experience of working for a company that went into administration

When a company goes into administration the directors are no longer under control, and if they are an employee of the company the administrator can decide to make them redundant, as they can any other employee.  So that is that for Mel, he will now have relinquished control.   If the are more than 20 employees to go there should be a consultation period, but in reality this never happens and employees will often have to go to court to get a protective award with the government effectively paying the redundancy money.

The administrator will try and sell the business as a going concern if at all possible, keeping it going in the meantime.  For anyone wanting to buy the club this is the ideal time to do it, the administrator will not normally turn down any reasonable offer.

if no one comes forward then the business is simply liquidated and all of the assists sold of piecemeal to raise as much cash to pay creditors.

So if anyone is interested in buying DCFC then there is no better time than now financially speaking.

For me this step by Mel was inevitable, not saying it’s right or even moral, but for me the writing was on the wall once the two deals fell though

Andrew

[CornwallRam]

I think there's one thing we can now agree on, this is irrefutable proof that the black shorts are the problem.

Whoever our new owners are, to achieve success we obviously need to revert to our proper colours of white and navy blue.

As a song once said, 'we'll follow the great white and blue'.

[atherstoneram]

Just now, CornwallRam said:

I think there's one thing we can now agree on, this is irrefutable proof that the black shorts are the problem.

Whoever our new owners are, to achieve success we obviously need to revert to our proper colours of white and navy blue.

As a song once said, 'we'll follow the great white and blue'.

I think we should have a complete change and go back to Pink for the home strip

[Olton Ram]

14 minutes ago, CornwallRam said:

I think there's one thing we can now agree on, this is irrefutable proof that the black shorts are the problem.

Whoever our new owners are, to achieve success we obviously need to revert to our proper colours of white and navy blue.

As a song once said, 'we'll follow the great white and blue'.

 

[EraniosSocks]

Ed Dawes still aboard the Mel Morris train..

 

Can the administration sell him on? 

[Tyler Durden]

2 minutes ago, EraniosSocks said:

Ed Dawes still aboard the Mel Morris train..

 

Can the administration sell him on? 

 

[Loftyhites]

I think the new club coming out of this: ‘Derby City’ will have pink shirts as the home kit. The away kit will have white fluffy arms to remind folk of a team called Derby County that were once a team around here.

Never thought after living through the 1984 ‘twenty-four hours to liquidation’, Maxwell and then the amigos, we would find ourselves here again. We can now add the Morris era to this list of financial shenanigans if we get through this. With the amount of debt, the high inevitably of League One and the current financial climate, I’m not sure we will. Has anyone got Stuart Webb’s phone number!

Edited September 18, 2021 by Loftyhites

[Loftyhites]

18 minutes ago, atherstoneram said:

I think we should have a complete change and go back to Pink for the home strip

 

[davenportram]

6 hours ago, G STAR RAM said:

But that debt is secured against his biggest asset, which he will now lose on the cheap.

Makes no sense to me.

Just smacks of him being completely desperate to offload a failed project and shaft anyone and everyone in the process.

I think fan reaction will have played a major part in this. He couldn't get enough of it when the majority adored him.

If he owns it personally why would he lose the ground? Didn’t he buy it? He’ll just lease it to us and milk the club again

[GenBr]

8 minutes ago, davenportram said:

If he owns it personally why would he lose the ground? Didn’t he buy it? He’ll just lease it to us and milk the club again

Didnt we take a loan with the stadium as security? Which we now lose to Dell no?

[davenportram]

11 minutes ago, GenBr said:

Didnt we take a loan with the stadium as security? Which we now lose to Dell no?

We already lease it from him https://www.google.co.uk/amp/s/www.derbytelegraph.co.uk/sport/football/football-news/pride-park-sale-mel-morris-3290644.amp

how can we have taken a loan against a stadium we do not own.

 

cynic says Mel bought the stadium knowing that if he ever sold Derby he’d always have an income. If EFL punished it for us he’d still have an income if we got points deducted and went down.

 

in short he guaranteed himself an income if Derby County is around - if liquidated he’s got a huge chunk of land to sell for developments 

[Raich Carter]

13 minutes ago, GenBr said:

Didnt we take a loan with the stadium as security? Which we now lose to Dell no?

This is what the administrators decide. Basically, the board are no longer involved in the key decisions so the administrators make decisions based on short-term financial aspects. So, if MSD/Dell/Mel want £1m per match to play at PP and that's a 'good thing' according to the administrators, then that's what we'll do.

Equally, we won't sign a single player unless we absolutely have to as they won't really have a view on performance, investments, etc - just the day-to-day functions to keep it viable. 

I'm obviously exaggerating to prove my point but administrators deal only (pretty much) in fact.

I suspect someone will step in in a few months once the worse of it has been sorted. Basically, the creditors have to agree to an offer so let's say it's Mel and MSD who are owed the most, it's them that would have to agree to 10p in the £pound from new owners to settle their debts and come out of administration. 

Unless, of course, this has already been done either as a pre-pack or off-the-record. I'm saying nothing on that score but would remind readers of the videos recently released regarding Mel's alleged approach to such deals...

Edited September 18, 2021 by Raich Carter

[Angry Ram]

3 hours ago, S8TY said:

Gibson is a **** and no i wouldnt be .....should mind his own ******* business 

Really. Be honest with yourself. 
If that was Morris you would have been creaming yourself. 

[G STAR RAM]

2 hours ago, davenportram said:

If he owns it personally why would he lose the ground? Didn’t he buy it? He’ll just lease it to us and milk the club again

The parent club owns it, the parent club is also going into administration. 

Loans were taken with the ground/club as security. 

If we go into administration the ownership of both passes to MSD.

[ketteringram]

So.......when are we supposed to go into administration?

[RadioactiveWaste]

6 minutes ago, ketteringram said:

So.......when are we supposed to go into administration?

Formally, early next week I would guess once all the paperwork is finalised.

[davenportram]

37 minutes ago, G STAR RAM said:

The parent club owns it, the parent club is also going into administration. 

Loans were taken with the ground/club as security. 

If we go into administration the ownership of both passes to MSD.

Wasn’t it bought via Gellaw Newco 202 Limited - no notice to appoint administrators for that company is there? 
 

from the article at the time Mel explained why he took the stadium out of the football club.