Derby finally accept 21 point deduction.

[CBRammette]

46 minutes ago, LeedsCityRam said:

As if it wasn't bad enough agreeing a penalty for decisions that were signed off by the EFL previously & not explicitly prohibited under their regulations, we also have to agree to a business plan that means we have no hope of recruiting a squad that would have any prayer of overcoming a 21 point penalty. No transfer fee or loan fee this season even if we're taken over by a responsible new owner with significant funds? How on earth is that fair?

There is so much in that EFL statement that would not stand up in a court of law. Its absolutely typical Derby County luck that our previous owner was not in a position to drag these charlatans to court to justify a) their retrospective revision in opinion & b) the punitive 'guilty until proven innocent' transfer embargo & dragging out of 'disciplinary processes' that we've lived under for the past 2 years

Would be fascinated to know how EFL 'persuaded' Quantuma to accept the points penalty & business plan - must have related to sale of the club. Again with funds, any actions borne out of bad faith could have been overcome with an injunction.

I'd like to say this at least gives us some clarity at last but there's still HMRC, Morris' ownership of PP & a takeover still to sort. What a mess.

 

Re your last para I assume the admin team have been working on more than one issue at once - unless they're all male of course (just trying to lighten the mood - well for Angie and I anyway) ??

[G STAR RAM]

37 minutes ago, Tamworthram said:

Are you referring to the administrators as one of the parties?

How do you know they do not have the best interests of the club in mind? How do you know they didn’t consider that prolonging the process by failing to agree/submitting an appeal wouldn’t have damaged the club and creditors further possibly by delaying a resolution beyond the timescales to finalise a purchase? How do you know that, having taken advice, failure to reach an agreement wouldn’t have been effectively a waste of more money?

Whilst the transcript you are referring to would no doubt answer the above questions, I doubt we’ll ever see them. 

Because that is not their primary role. 

Their primary interest is the creditors. 

It may be that the clubs best interests and creditors best interests align but as there is no guarantee of this there is no way the EFL and administrators should be negotiating on such matters. 

[hintonsboots]

1 minute ago, CBRammette said:

Re your last para I assume the admin team have been working on more than one issue at once - unless they're all male of course (just trying to lighten the mood - well for Angie and I anyway) ??

Meant in the same lighthearted way.....before the woke brigade have me.

[May Contain Nuts]

Can anyone explain how Reading are supposed to be getting anything less than the full 12 points deduction despite spending £54m over the allowable losses?

What years accounts is it Reading are being punished for?

Their £54m spend over allowable limits will be written down as £13m for the next FFP calculation period, but it doesn't just disappear from their actual accounts.

They'll surely be due more deductions based on future accounts? Otherwise it basically doesn't matter whether you breach the limits by £15m or £50m?

[Foreveram]

6 minutes ago, Duracell said:

I've said before that I admire any fan with emotional capacity left to care about what team we play, or engage in discussions about tactics. I feel a little bit about the points deduction too; I always thought it was coming.

My main worries are:

1) How much of the above will be sorted before January? Because if it's not, there could be a firesale of not just the first team, but all the very clearly talented U23s who could be the key to our return to this league. If they go, then we'll be scrambling around to field a team that can stay up in League One next year, let alone any talk of promotion. And perhaps a tad more pertinently;

2) Are we going to exist????????????????*

 

 

*I can't believe how many fans are not obsessively stressed by this question.

Don’t stress over something that you have no control over.

[CBRammette]

25 minutes ago, Mucker1884 said:

Publication
29. This Agreed Decision shall be published by the EFL on its website and may be circulated to other member clubs of the EFL.
30. The EFL may answer any questions posed of it by other Championship Clubs in relation to this Agreed Decision and any matters related thereto.
31. Any further public statements are to be agreed between the parties.

 

Is that last one in respect of any further EFL statement, or is it effectively a gagging order on the club?   ?‍♂️

Probably while they leak to journalists for twitter posts and clickbait over-exaggerated stories. How this has been handled seriously needs reviewing but no-one cares until it their club on receiving end. I guess we were the same to be fair as until its your club you never really know the backstory. 

[CBRammette]

6 minutes ago, hintonsboots said:

Meant in the same lighthearted way.....before the woke brigade have me.

We all looked that young before this all started

[hintonsboots]

Just now, CBRammette said:

We all looked that young before this all started

Mel had a full head of hair.

[Reggie Greenwood]

8 minutes ago, Sidd10 said:

This make me unbelievably angry. What kind of reporting is this? 'Poorly timed tweet', 'grilled by fans' 'brag about'

what the actual f. How anyone at this poor excuse for a news outlet gets paid is beyond me. I wonder if Nicholson is embarrassed at how awful the click bait nonsense that comes from the telegraph is? 

Whether Kirchner does or does not buy the club... no one knows yet, I'm hopeful he does so we still have a club. But why bother with this utter nonsense that frankly if I were him and reading it, i'd be pissed off at.

"His tweet was not about the situation with Derby, but rather to brag about spending a week at golf events in Dubai with "partners" including luxury watch brand Rolex."

First thing as a new owner, I'd closing all lines of communication with this awful excuse of paper.

A reason why I am not on Twitter , just what makes people put such nonsense on line. If I was CK I might just think stuff it. Hopefully he and other bidders won’t 

[CBRammette]

Just now, hintonsboots said:

Mel had a full head of hair.

he probably has again if going out in disguise

[Amberram]

1 minute ago, CBRammette said:

he probably has again if going out in disguise

[hintonsboots]

1 minute ago, Amberram said:

It’s been a poo business.

[Sidd10]

2 minutes ago, Reggie Greenwood said:

A reason why I am not on Twitter , just what makes people put such nonsense on line. If I was CK I might just think stuff it. Hopefully he and other bidders won’t 

Exactly, he's in Dubai because his company is the sponsor of a multi-million pound golf event. With the other sponsors... sorry 'partners' including Rolex. How very dare he.

You are right... if I read that i'd be thinking why bother. Luckily, he seems to be a (fingers crossed) adept business man, so probably water off a ducks back for him.

Don't mind me though, i'm still here being very offended for him and his millions in the bank.

[Gaspode]

11 minutes ago, G STAR RAM said:

Because that is not their primary role. 

Their primary interest is the creditors. 

It may be that the clubs best interests and creditors best interests align but as there is no guarantee of this there is no way the EFL and administrators should be negotiating on such matters. 

Who else would negotiate? the Administrators are 'the club' at present - there's no-one else who could carry out negotiations with any semblance of authority.....

[vonwright]

1 hour ago, Chris_D said:

we haven't spent 300k on an appeal

And it might have given us some leverage, even if we weren't likely to win. 

There's clearly been a fair amount of horse-trading in order to agree a final punishment. On the one hand it's actually lower than the agreed overspend figures would suggest, but on the other we've dropped the administration appeal and (more to the point) we've accepted being pinged for multiple years and not just the first. 

I think we can all agree it's a highly unsatisfactory and opaque process and to whoever said football should be overseen by an independent body - I could not agree more, and there will never be a better example than us.

It is a real shame we couldn't have got to this point without the additional penalty of administration, because I really believe we'd have a chance of staying up, and it would be easier to rebuild from the Championship than from League One. But here we are: hopefully we can get the club sold, and the future sorted, and rebuild around young players who want to stay and become legends of the future.

 

Edited November 16, 2021 by vonwright

[cheron85]

19 minutes ago, G STAR RAM said:

The use of our amortisation method is not a matter of opinion, it was and still is fully compliant with FRS102.

The accounting estimates used to arrive at the figure are there to be scrutinised but the accounting policy is under question by nobody qualified in the field. If anything it gives a truer and fairer view than the straight line method, if applied correctly.

I'm as frustrated as pretty much everyone else by the EFL's whole attitude and approach - They have essentially moved the goalposts to screw us (and the chaps who ran the club previously just didn't bother to check with the league where the goalposts were at any given time)

However - There's a bit buried in the EFL's decision doc which puts clarity on the FRS 102 thing - They say "account standards in the context of the EFL's Regulations" - Which essentially means "we don't care what the legal position is, we're a member organisation and therefore can apply whatever rules we like and you have to live with them"

It's a little pointless arguing one way or the other now - It's done, it's over, we're going down. Next season we can start afresh, we're allowed to extend contracts of current players and bring people in on a free. The big difference is that the administrators decided it was best to cut this fight short, take the hit and move on. 

[G STAR RAM]

Just now, Gaspode said:

Who else would negotiate? the Administrators are 'the club' at present - there's no-one else who could carry out negotiations with any semblance of authority.....

There should not be any negotiations.

Wrongdoing should be sorted be sorted by bringing charges against the club that are then heard by and Independent Disciplinary Commission.

Should have been done months and months ago. No need for any new submissions, the EFL will have been fully aware of what the results would show following re-submission and should have brought changes based on that. 

[hintonsboots]

3 minutes ago, vonwright said:

It is a real shame we couldn't have got to this point without the additional penalty of administration,

Wasn’t that possible? 

[JMC]

I've not read everything today, but  questions I have that I've not seen an answer for is which seasons does this deduction apply?  is this simply end of this season given the 3 points suspended? Or is this to the end of 18/19? If so is there more to come? 

[i-Ram]

We can, and no doubt many will, argue about the treatment of our Club by the EFL all day, but what should not be lost today is that if Morris hadn’t put us in to Administration a couple of months ago, whilst clearly still a very wealthy man, and committed himself instead to accepting 9 points punishment for our P&S indiscretion, we would still have a Club today that had a chance, a good chance, of being in the Championship next season.

Morris bought a brilliant Club and Team, and in 6 short years ran it into the ground, and ultimately ran away to let someone else clear up the mess.