Derby finally accept 21 point deduction.

[angieram]

Here is the link to the report. 

Be warned, it's an eye-watering 165 pages! 

https://find-and-update.company-information.service.gov.uk/company/00049139/filing-history

Edited November 25, 2021 by angieram

[PistoldPete]

6 minutes ago, angieram said:

Feels like I am going over old ground a bit now as we withdrew our appeal against the administration points deduction, but the latest report submitted by the administrators at companies House states our matchday income pre-pandemic at c. 54% of our income.

We knew that percentage was higher than other clubs, but that is huge.

Thanks Angie, very helpful.

 

And the "funding gap" caused by the pandemic is estimated at £30 m to £40 m, not the £20 million revenue gap that was often quoted.

 

And what about the cost of not being able to sell the club as a result?

 

[CocuBarmyArmy]

The administrators are so so expensive aren't they  

Edited November 25, 2021 by CocuBarmyArmy

[Tamworthram]

8 minutes ago, CocuBarmyArmy said:

The administrators are so so expensive aren't they  

In other breaking news, bears continue to poo in the woods.

 

Sorry for the sarcasm but yes, they always will be. Same as lawyers, solicitors, footballers etc.

[CocuBarmyArmy]

13 hours ago, Tamworthram said:

In other breaking news, bears continue to poo in the woods.

 

Sorry for the sarcasm but yes, they always will be. Same as lawyers, solicitors, footballers etc.

Of course, it's just especially stark now the damage has been quantified!

[CBRammette]

19 hours ago, CocuBarmyArmy said:

The administrators are so so expensive aren't they  

Well they're not a charity. Their fees are just normal professional fees

[kevinhectoring]

On 25/11/2021 at 08:49, angieram said:

Feels like I am going over old ground a bit now as we withdrew our appeal against the administration points deduction, but the latest report submitted by the administrators at companies House states our matchday income pre-pandemic at c. 54% of our income.

We knew that percentage was higher than other clubs, but that is huge.

Yes the administrators certainly indicate that covid was the main cause of administration. Well they can hardly say it was down to the EFl dragging their feet on the disputes thereby preventing a sale. Would love to see the famous options paper they produced. MM did suggest in his RD interview that it was Quantuma that recommended administration 

[richinspain]

32 minutes ago, kevinhectoring said:

Yes the administrators certainly indicate that covid was the main cause of administration. Well they can hardly say it was down to the EFl dragging their feet on the disputes thereby preventing a sale. Would love to see the famous options paper they produced. MM did suggest in his RD interview that it was Quantuma that recommended administration 

Well that is a bit asking the Pope "Shoul I believe in God, and which one?"

[RadioactiveWaste]

26 minutes ago, richinspain said:

Well that is a bit asking the Pope "Shoul I believe in God, and which one?"

[angieram]

3 hours ago, kevinhectoring said:

Yes the administrators certainly indicate that covid was the main cause of administration. Well they can hardly say it was down to the EFl dragging their feet on the disputes thereby preventing a sale. Would love to see the famous options paper they produced. MM did suggest in his RD interview that it was Quantuma that recommended administration 

I only highlighted it because there are a few posters on here talking about matchday revenues at 15 - 20%. That might hold true for EPL clubs and those with parachute payments. But I had seen stats pre-covid that put us much higher, making us more vulnerable to the hit of closed grounds than many.

As the administrators have since said  the appeal was mainly tactical, but it certainly wasn't frivolous,  as some were suggesting.

[kevinhectoring]

59 minutes ago, angieram said:

 

As the administrators have since said  the appeal was mainly tactical, but it certainly wasn't frivolous,  as some were suggesting.

Agree, the appeal was certainly far from frivolous (but it may also have been tactical) .  What was interesting was that the EFl statement stressed that covid was not the ‘sole reason’ for the administration. The EFl regs say appeals will be granted where admin is caused ‘solely’ by the force majeure event. It’s a very high bar to get over and EFL needs it to be high.

The fabulous irony is that the main cause of administration was most likely the inability to do a deal with the EFL. Because if we had done a deal with them, then we would have been sold 

[PistoldPete]

1 minute ago, kevinhectoring said:

Agree, the appeal was certainly far from frivolous (but it may also have been tactical) .  What was interesting was that the EFl statement stressed that covid was not the ‘sole reason’ for the administration. The EFl regs say appeals will be granted where admin is caused ‘solely’ by the force majeure event. It’s a very high bar to get over and EFL needs it to be high.

The fabulous irony is that the main cause of administration was most likely the inability to do a deal with the EFL. Because if we had done a deal with them, then we would have been sold 

Or if the EFL had never charged us in the first place. Both charges required the EFL to over-ride indpendent assessments (by the valuers of PPS and by the auditors). Both very high bars (or should have been). And the amortisation policy should have been challenged in 2016 or not at all.  

[i-Ram]

7 minutes ago, kevinhectoring said:

Agree, the appeal was certainly far from frivolous (but it may also have been tactical) .  What was interesting was that the EFl statement stressed that covid was not the ‘sole reason’ for the administration. The EFl regs say appeals will be granted where admin is caused ‘solely’ by the force majeure event. It’s a very high bar to get over and EFL needs it to be high.

The fabulous irony is that the main cause of administration was most likely the inability to do a deal with the EFL. Because if we had done a deal with them, then we would have been sold 

The main cause of administration was Mel Morris no longer had the appetite to cover the costs of the club. I hope he is comfortable in his bunker.

Edited November 26, 2021 by i-Ram

[PistoldPete]

2 minutes ago, i-Ram said:

The main cause of administration was Mel Morris no longer had the appetite to cover the costs of the club. I hope he is comfortable in his bunker.

Well maybe , but if he had sold the club then all our problems would have been solved and you would have no one to Moan about.

[Ramrob]

11 hours ago, CocuBarmyArmy said:

Of course, it's just especially stark now the damage has been quantified!

Should that be ‘now the damage has been Quantuma-ed’?

[i-Ram]

5 minutes ago, PistoldPete said:

Well maybe , but if he had sold the club then all our problems would have been solved and you would have no one to Moan about.

But he didnt sell the club did he Pete? He ran up significant losses, fell out with the EFL, put our club on the line, ducked over a number of small businesses, and left us with most likely third division football for (at least) a season. 

Edited November 26, 2021 by i-Ram

[PistoldPete]

11 minutes ago, i-Ram said:

But he didnt sell the club did he Pete? He ran up significant losses, fell out with the EFL, put our club on the line, ducked over a number of small businesses, and left us with most likely third division football for (at least) a season. 

Well Kevin ‘s suggestion is that the Efl action may be a reason why he couldn’t sell the club. But anyway hopefully Tracey crouch review means no more Efl regulation and then I will have nothing to Moan about either.

Edited November 26, 2021 by PistoldPete

[May Contain Nuts]

Even if he had managed to sell the club, looking at the sort of people he was getting involved with it may only have hastened his reputational plummet to villain status

Edited November 26, 2021 by Coconut's Beard

[Dimmu]

2 minutes ago, Coconut's Beard said:

Even if he had managed to sell the club, looking at the sort of people he was getting involved in it may only have hastened his reputational plummet to villain status

In the long run, I'm pretty sure it's better for us to be in administration now than in the hands of that boxing clown. 

Edited November 26, 2021 by Dimmu

[i-Ram]

4 minutes ago, PistoldPete said:

Well Kevin ‘s suggestion is that the Efl action may be a reason why he couldn’t sell the club. But anyway hopefully Tracey crouch review means no more Efl regulation and then I will have nothing to Moan about either.