Derby finally accept 21 point deduction.

[Tamworthram]

17 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. 

Fair enough then but presumably the club's best interest is to be bought as a going concern which, must be the administrators primary concern as well I would have thought. I doubt it was lost on the administrators that minimising any points deduction enhanced our chances of staying in the championship and thus increased our attractiveness to potential buyers. Therefore, I would suggest the interests of the creditors and club are more than likely to be aligned. 

Out of interest, who do you think should have been negotiating with the EFL if not the administrators? New owners sounds like the right answer but we're close to finalising the sale. 

[alram]

The worst day in the history of the football club thanks to mel morris and mel morris alone. His disregard for the rules, other people and any kind of respect within the game has been thrown out the window many times when it comes to him.

dragging the clubs reputation through the mud, the financial accounts through the mud and now the entire club through the mud. I cringe at those times we bounced with him, this has been coming for many years and he has not done anything to prevent it. I hope we are now seeing how the rest of the league and country see mel morris.

now it's time to move forward as a club, and hopefully we can do that and the damage is not too much.

[Curtains]

28 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.

You won’t be saying that if we don’t get a buyer 

[Mucker1884]

1 hour ago, JuanFloEvraTheCocu'sNesta said:

Glad we dropped 300k on that whilst making people redundant. Well done DCFC.

Not sure we did?

Firstly, the appeal was adjourned, so costs may not have soared to that figure.
Secondly, there have been strong and continued "internet claims" that the club were never footing that bill anyway.  Something, something, kind and generous benefactor, something.

[Curtains]

26 minutes ago, Foreveram said:

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

We all should be stressed. 
Who would want to buy us. !

[alram]

1 hour ago, Chris_D said:

we haven't spent 300k on an appeal

how can you possibly know trhat? i hasnt been disclosed whether we have or haven't.

Which is the main thing frustrating me about the administrators, there is little to no transparency at all from them which we and more importantly the staff need in a situation like this.

For me in situations like this no noise is never a good thing, it is the clubs future on the line.

[one_chop]

If we don't get a buyer these 21 points become irrelevant. 

[Mucker1884]

1 hour ago, Tamworthram said:

Forgive me for not ploughing through all the posts since the announcement but, has anything been said about our appeal against the 12 point deduction?

Do we still have the tiniest of hopes or has that been concluded as well?

Concluded, it seems...

 

"...Given the complex circumstances of the case and the various outstanding regulatory issues between the EFL and Derby County, the League is satisfied at the agreed outcome and the sensible approach taken by both parties in negotiating this outcome and in respect of the appeal withdrawal. Our focus is to continue to work with the Joint Administrators to assist them in securing a long-term future for the Club.”

 

https://www.dcfc.co.uk/news/2021/11/efl-statement-Derby-county-16th-november-2021

[Mucker1884]

1 hour ago, Gritstone Tup said:

We gave up on that last week! It’s 21 points in total confirmed with a further 3pts if we don’t sort a business plan out

The business plan has already been very kindly sorted out for us.  We just merely have to comply with it.  ?

[Indy]

1 hour ago, JfR said:

As the case never got heard, I assume the cost wasn't £300k, and may have been nothing

I think it says the cost was £700. I’d guess an hours work for two sets of lawyers to witness and ratify an agreed decision. 

[Chris_D]

 

49 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.

Nonsense - you are literally basing this on the opinion of what you think are the only qualified people involved.  And those people are interpreting a policy as against the wording of a standard, it is the definition of them forming an opinion.  If the above was the case then the £100k fine and the -9 wouldn't apply would they, your opinion is that they should not.

 

Edited November 16, 2021 by Chris_D

[UTFR]

duck IT Lets crack on.

Currently means minus 3. So we need 26 points from our remaining games to equal Rotherham's record of lowest total of 23. (17/18). Anything north of that keeps us away from another unwanted record.

Nice measurable and achievable target, that gives the rest of the season some meaning.

Oh and start a full strength side in the cup, why not!

[Chris_D]

15 minutes ago, alram said:

how can you possibly know trhat? i hasnt been disclosed whether we have or haven't.

Which is the main thing frustrating me about the administrators, there is little to no transparency at all from them which we and more importantly the staff need in a situation like this.

For me in situations like this no noise is never a good thing, it is the clubs future on the line.

Because the £300k number only came up as Wigan spent that on their entire appeal process (they disclosed that number) and we have got nowhere near the same stage they did.  Now tell me how we have spent £300k.

[Indy]

7 minutes ago, Chris_D said:

 

Nonsense - you are literally basing this on the opinion of what you think are the only qualified people involved.  And those people are interpreting a policy as against the wording of a standard, it is the definition of them forming an opinion.  If the above was the case then the £100k fine and the -9 wouldn't apply would they, your opinion is that they should not.

 

He’s basing it on the opinion of qualified auditors and an independent review by the accountancy regulator who said it was compliant. 
 

The opinion of the EFL and the appeals panel (which had no accountant on it) was that it wasn’t compliant. 
 

Anyway - not much we can do about it now. EFL have got their narrative out that we cheated and we just need to figure out what we can and can’t do going forward. 

[Mucker1884]

50 minutes 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) ??

Not now, dear.  Not in the mood!   

Another day, maybe! ?

 

 

 

 ???

[duncanjwitham]

3 minutes ago, Chris_D said:

Because the £300k number only came up as Wigan spent that on their entire appeal process (they disclosed that number) and we have got nowhere near the same stage they did.  Now tell me how we have spent £300k.

That was basically my understanding too.  The £300k was the sum total of everything involved - lawyers costs, fees etc. Stands to reason that if we stop the case midway, we don't end up paying all of that.  It's not like it was a lump sum we handed over the the EFL before we started or anything.

[G STAR RAM]

24 minutes ago, Tamworthram said:

Fair enough then but presumably the club's best interest is to be bought as a going concern which, must be the administrators primary concern as well I would have thought. I doubt it was lost on the administrators that minimising any points deduction enhanced our chances of staying in the championship and thus increased our attractiveness to potential buyers. Therefore, I would suggest the interests of the creditors and club are more than likely to be aligned. 

Out of interest, who do you think should have been negotiating with the EFL if not the administrators? New owners sounds like the right answer but we're close to finalising the sale. 

No negotiations. 

Charge us and let it be heard by an Independent Disciplinary Commission.

Negotiations were only undertaken as the EFL knew we were staring down the barrel.

[G STAR RAM]

14 minutes ago, Chris_D said:

 

Nonsense - you are literally basing this on the opinion of what you think are the only qualified people involved.  And those people are interpreting a policy as against the wording of a standard, it is the definition of them forming an opinion.  If the above was the case then the £100k fine and the -9 wouldn't apply would they, your opinion is that they should not.

 

I'm basing my opinon on being a qualified accountant who was an auditor for the best part of 15 years.

You are basing on your opinion on unsubstantiated nonesense from people who clearly have no, or little, understanding of Financial Reporting Standards.

 

[Ram-Alf]

29 minutes ago, cheron85 said:

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"

 

For a good majority of my adult life i've not liked authoritarian regimes and fought as best I knew I could, Those in power/influence will ride roughshod over anything and everything to get their way, Governments, Organisations will tell us "it's ourway or the highway" inevitably they fall by the wayside, As the people revolt but are replaced by others...which will take time for them to formulate their own authoritarian ragimes and so it all begins again, MM had his way, And his way or no way would be the outcome, When you have as much wealth as these people have...the real world we live in is Alien to them, MM=EFL, ELF=MM they're both cut from the same cloth, One who's minted the others who have bought the rich down.

Then there's US, Just ordinary folk, Get up, Go to work, Bring the bacon home, Enjoy a social life, Then go to bed to start all over again, Life goes on people as has been said...don't get stressed about something you can not influence...there's always someone worse off.

This is an opportunity to pick ourselves up, Dust ourselves down and show those who have run roughshod over us...WE'RE still here.

COYR

 

 

[LeedsCityRam]

1 hour 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.

Yes agree, the actual games seem like a total sideshow.

I'd like to think Morris has the decency not to drive a hard bargain over PP & that's an important factor in attracting investors (and making liquidation unlikely). A decent Academy, large fanbase & the ground gives any new owner a really sound foundation to rebuild the club.

The big uncertainty is HMRC. They are highly unlikely to be easy to negotiate with & I fear this will be the time consuming issue that will take us beyond Christmas for a sale (and leads to a firesale of players). I hope to goodness Quantuma have made significant progress in agreeing a resolution with them.

I don't want to be stressed about liquidation as quite frankly the last few months have been pretty stressful enough. Its a sick joke that MIND are partnering with EFL - as a fanbase, we really should lobby hard to get them to publicly ditch the EFL in view of how they've behaved.

https://www.mind.org.uk/news-campaigns/campaigns/mind-and-efl-partnership/