Dell v Mel

[Gringo]

5 minutes ago, The Scarlet Pimpernel said:

Dell were rumoured to be interested in buying the club previously weren't they? 

Only if they could move it on quickly for a profit

[San Fran Van Rams]

7 minutes ago, Charlotte Ram said:

There is something super weird about this weeks events;

1 why pay off Barclays if you are going into administration, that does not make sense UNLESS it was Dell that paid off Barclays as the bank also has a charge on the stadium etc, this clears the way for Dell to be in sole  charge of all the assets.

2. Why on earth are Pinsents being appointed the administrators? They are a magic circle outfit and an insolvency this size is really small for them

3. The fake sheiks lawyers were Pinsents

We have to wait 28 days before any potential buyer is flushed out but my guess is there is one.

Interesting on Barclays being paid back. Where did you get that info? Completely agree it would be strange to pay them off if admin was planned.

Pinsent link is probably a long shot, but gives hope. Any buying firm would have seen the run rate and the growing debt and could have seen this coming so it's a distinct possibility a buyer is waiting in the wings.

[De22Ram]

Where is there money to made in investing in a football club? Flip it like you would a run doen house?

[De22Ram]

Surely companies like dell will either buy a club and spend big as a hobby and possibly sell on down the line for a profit or asset strip?

[Gringo]

27 minutes ago, San Fran Van Rams said:

Interesting on Barclays being paid back. Where did you get that info? Completely agree it would be strange to pay them off if admin was planned.

Pinsent link is probably a long shot, but gives hope. Any buying firm would have seen the run rate and the growing debt and could have seen this coming so it's a distinct possibility a buyer is waiting in the wings.

Companies house settled on 9/14

[San Fran Van Rams]

In case of interest, here is the charge document in relation to the MSD loan on the stadium https://find-and-update.company-information.service.gov.uk/company/11420393/filing-history/MzI3NTA4MjQ4OWFkaXF6a2N4/document?format=pdf&download=0

 

And here is the one on the training grounds

https://find-and-update.company-information.service.gov.uk/company/00049139/filing-history/MzI4MDU3NTg5MmFkaXF6a2N4/document?format=pdf&download=0

[baiano27]

6 hours ago, San Fran Van Rams said:

Pinsent link is probably a long shot, but gives hope. Any buying firm would have seen the run rate and the growing debt and could have seen this coming so it's a distinct possibility a buyer is waiting in the wings.

Mel/ Derby have been using Pinsents for years...

[I know nuffin]

9 hours ago, Igor Igor Whats the Score? said:

Is the announcement of an intention to go into administration a play to force Dells hand in some way? Or am I just being naive….

Hope you are vorrrct

[NottsRam77]

9 hours ago, Carl Sagan said:

This is something I tried to ask about in the Pride Park/Moor Farm thread. Were the "charges" on the club's assets or on Mel's separate assets? What is actually owned by DCFC, what by Mel, and what by Dell? If DCFC call in administrators but Mel owns the stadium and training facility, what is Derby County's except the staff? 

The wording about "intention" to go into admin is interesting. The wording being careful to praise Dell is interesting. We know the ownership and financial structure of DCFC is exceedingly complex (to put it mildly). There are probably a lot of twists and turns yet in this saga, before things become properly clear. If they ever do...

I havent seen this statement praising dell … would be interested to read it or see a snippet

ur right re the wording “intention to go into admin” 

thats very very interesting… maybe (and im saying this more in hope than anything) mel has one final play

my overiding feeling is

mel has been of ill health, mels health may have deteriated.. it may be he just wanted or needed out of all this 

or 

He wont go down without a fight, hes Derby , theyre his club, we always have been his club and as hes always tried to do, hes trying to do what's best for the club (having got us into this mess)

im saying this in hope more than anything but maybe there is something in what ur alluding to, it does make a little sense 

a final f you to the efl 

i dont know 

i just find it interesting to around the wording

i dont suppose anyone remembers that video the price of football that caught mel sat round the table with those dodgy businessmen

mel said…with referecnce to their proposed deal “ it would be beneficial to the club if i wasnt in the picture/ silent role” 

i wish i could find it 

[NottsRam77]

watch from about 47 mins

interesting

theres just a part of me that thinks mel wouldnt let us go to the wall 

Edited September 19, 2021 by NottsRam77

[1967RAMS]

9 hours ago, Eddie said:

It's a strange one. I'd never heard of it in football - just 'we have gone into administration' or some similar phrase.

The appointment of an administrator is needed if a company is trying to enter a CVA ( Jamie’s Italian restaurants) and doesn’t involve actually going into administration if a write down of debt can be achieved. Absolutely no idea if MM is trying this or even if it is allowed for a football club 

[JuanFloEvraTheCocu'sNesta]

I think any ideas that we aren't going to end up actually going in to administration are overly optimistic. If it hadn't been settled upon why give the notice in the first place and send everyone associated with the club in to meltdown? Administration is coming.

If I am wrong and this is some final act of brinkmanship by Mel and the club then they have totally lost the plot.

Edited September 19, 2021 by JuanFloEvraTheCocu'sNesta

[kevinhectoring]

10 minutes ago, JuanFloEvraTheCocu'sNesta said:

I think any idea that we aren't going to end up actually going in to administration are overly optimistic. If it hadn't been settled upon why give the notice in the first place and send everyone associated with the club in to meltdown? Administration is coming.

If I am wrong and this is some final act of brinkmanship by Mel and the club then they have totally lost the plot.

Look you’re right. As we stand, administration is the most likely next step. But it is not inevitable particularly if Dell supports.  The only people who benefit from administration are the Gibsons of this world 

[BramcoteRam84]

As I understand from reading comments on here from some who know a lot more about these things than me, as now the main creditor with charges on club assets, MSD are now the main stakeholder and they will have decision rights as to what happens next. Therefore if we do appoint administrators they will need to sanction it. Therefore they can step in and take control If they want to but if we do go into administration then that makes their intentions very clear they only want their investment back or someone else to take it on so they can continue to make the exorbitant interest.

Its going to be an interesting 24-48 hours. 

Edited September 19, 2021 by BramcoteRam84

[jono]

It’s interesting isn’t it. Not done and dusted yet. I can remember a couple of instances when a major supplier was owed eye watering amounts by a customer and ended up buying that customer for twopence. To a) keep the “customer” alive and b) effectively seize assets at negligible cost avoiding a payout of a few pence in the pound.
Not sure how this fits when Dell have charges on the primary assets already, but given that “goodwill” = us fans, is the only remaining one, they already own us in all but name. The remaining conundrum is that it is a loss making enterprise so taking it on means spending yet more money. 
 

[kevinhectoring]

9 hours ago, Charlotte Ram said:

There is something super weird about this weeks events;

1 why pay off Barclays if you are going into administration, that does not make sense U

I wonder if releasing the Barclays earlier charge was just overlooked at the time. And that now the lawyers are revving up for default and insolvency scenarios, someone has probably noticed and said, whoops we'd better get that removed. Pretty sure it was the club as chargor that removed the charge 

[Simmoram2024Ramsrontheup]

Mels allegedly on Radio Derby later today being interviewed by Ed Dawes later 

[The Scarlet Pimpernel]

13 minutes ago, jono said:

It’s interesting isn’t it. Not done and dusted yet. I can remember a couple of instances when a major supplier was owed eye watering amounts by a customer and ended up buying that customer for twopence. To a) keep the “customer” alive and b) effectively seize assets at negligible cost avoiding a payout of a few pence in the pound.
Not sure how this fits when Dell have charges on the primary assets already, but given that “goodwill” = us fans, is the only remaining one, they already own us in all but name. The remaining conundrum is that it is a loss making enterprise so taking it on means spending yet more money. 
 

I think the statement from DCFC said going forward the business model works? 

[RIMBAUD]

2 minutes ago, simmoram1995 said:

Mels allegedly on Radio Derby later today being interviewed by Ed Dawes later 

Can’t decide which I dislike more. 

[Gaspode]

10 minutes ago, simmoram1995 said:

Mels allegedly on Radio Derby later today being interviewed by Ed Dawes later 

Dawes will probably spend half the interview talking about trains and asking Mel his thoughts on Pigeons....