Alan Nixon Breaks Silence on American Billionaire Bid

[sage]

11 minutes ago, one_chop said:

It looks like liquidation is inevitable.

 

Collymore was right.

No it's not 

and

No he's not

 

[r_wilcockson]

Just now, Rambalin said:

Nothing in that article that we have not known all along and potential buyers have not known.

Has for it not making business sense, buying and owning a football club at any level never does 

Another poor piece of journalism from the mail just regurgitating old news. 

I was thinking the same whilst reading the article as well, nothing in there is breaking news, it's just been published to emphasise the importance of the meeting with the taxman this week.

Obviously if HMRC insist on the amount being paid in full, a deal for the club will never go through. They also need to consider the wider effect of the club going under on other businesses etc.

Gut feel we will agree a deal for 25% up front and 25% spread over 10 years say - that way they aren't writing off more than half of what is owed. 

[Seth's left foot]

Let’s take a deep breath!

If this story has more truth than clickbait in it then there is an easy solution that I’m sure isn’t mentioned (I don’t click on scummy press links).

Get to January and reluctantly sell our assets of Lawrence ( not much because of his contract), Bird,Knight etc

Clubs will be queuing up to pick the meat off the bones but we should be able to find maybe £15m? Derby won’t be sunk over £5m surely?!

We’re going down so the only priority now is taking to a League One pitch next season. 

[Ram1988]

9 minutes ago, r_wilcockson said:

I was thinking the same whilst reading the article as well, nothing in there is breaking news, it's just been published to emphasise the importance of the meeting with the taxman this week.

Obviously if HMRC insist on the amount being paid in full, a deal for the club will never go through. They also need to consider the wider effect of the club going under on other businesses etc.

Gut feel we will agree a deal for 25% up front and 25% spread over 10 years say - that way they aren't writing off more than half of what is owed. 

We definitely need to strike some sort of deal with HMRC. It's in their interest as much as ours to avoid the club folding into liquidation.

Also I feel we also need to get things sorted things sorted for Chris Kirchner to buy the club asap. He seems be only one who seems to want to take the club on at the moment, the longer the administrators hang around the more debt we will wreck up with their fees.

[WestKentRam]

1 hour ago, IslandExile said:

Mel, it happened under your watch, just pay the debt to HMRC.

This club has to survive.

I can't understand, if he hasn't worked his way through his initial reported £500m net worth, why Mel Morris doesn't bite the bullet and settle the club debts that accrued under his tenure, so it can be sold to another owner. Surely he will still be left enough to live on after this.

The alternative of leaving a legacy of being a pariah in the city and the negative effects on 10s of thousands of people in Derby and the repercussions this is going to have across the wider footballing world makes me think there must be something else going on as it otherwise just doesn't make sense. 

[IslandExile]

49 minutes ago, IslandExile said:

Therefore, a fire sale in January is starting to look more than just an inevitability but rather it is becoming more of a necessity.

 

19 minutes ago, Seth's left foot said:

Get to January and reluctantly sell our assets of Lawrence ( not much because of his contract), Bird,Knight etc

I wonder if the Administrators' revised timescale - of a sale now by the end of January - is to factor in the transfer window. The sale being dependent on the reduction of debt by selling off the football playing assets.

[RadioactiveWaste]

This has always been a possible outcome (liquidation) and pretty much inevitable (fire sale of players).

The only thing that could stop the fire sale is the club not being in administration under new owners.

No matter how good a face has been put on things, liquidation has never not been a posibility.

[Gee SCREAMER !!]

1 hour ago, Stive Pesley said:

Am I right in thinking that liquidation means HMRC get nothing? If so, are they really going to push us down that road by not accepting the deal?

Well they get flog the kettles and any fixtures and fittings/ club memorabilia that haven't been mortgaged to the eyeballs by Morris and the financial wizard that's Pearce.  It's unlikely they go down that route whilst they can still get some cash .  The way it works with HMRC is oldest debt first .  Basically, the money they are paying on current tax is outstanding as it's paying oldest debt first .  If Morris had cleared this tax bill, paid MSD AND  kept us out of admin and then rented the ground to a new owner at a rate of 5 million a year we'd be ok

[CocuBarmyArmy]

39 minutes ago, WestKentRam said:

I can't understand, if he hasn't worked his way through his initial reported £500m net worth, why Mel Morris doesn't bite the bullet and settle the club debts that accrued under his tenure, so it can be sold to another owner. Surely he will still be left enough to live on after this.

The alternative of leaving a legacy of being a pariah in the city and the negative effects on 10s of thousands of people in Derby and the repercussions this is going to have across the wider footballing world makes me think there must be something else going on as it otherwise just doesn't make sense. 

This is the thing though, I honestly believe he is running out of cash, I just can't see any other reason to take this route. I had my suspicions when we failed to pay the players last year, not just because we didn't pay them on time, but because it took so long to get them paid after the initial hiccup. Perhaps he just doesn't have the liquidity, but I just cannot fathom why he put the club into admin if he is still worth 500 million, it makes no sense surely.

[RAM1966]

1 hour ago, mike93rh said:

Cheery bed time reading. I get the point about HMRC potentially benefitting from our liquidation and forcing clubs down the line to avoid admin as a debt cutting tool.

My only hope is that HMRC think few clubs will take the admin gamble deliberately, even if they see us broker a deal, and as such feel their best outcome is to recover some of what we owe now.

On a personal note, how bad does it look that we as a club are having to haggle our way out of paying tax we owe. In a pandemic. Mel Morris hang your head in shame.

I'm sorry but the way this club has been mismanaged so badly there should be a police investigation......  Starting with how a Championship club could be allowed to run up debts of nearly £30m to HMRC.....

Edited December 2, 2021 by RAM1966

[Oldben]

Daily mail is stirring up trouble, usual rag newspaper stuff to fill out its pages.

It's unfair to blame administrators who are qualified in this sort of thing and will not do anything unethical or illegal.

Potential owners will have been versed on these things.

Kirchners aware of the club's full financials and still makes the trips to watch games.

Hes aware that hmrc would put the club onto a repayment plan.

The only other thing hanging over the club is the legal claims by Wycombe wanderers and Middlesbrough, I believe a good lawyer for Derby can crush those claims plus appealing to the efl as if these cases were won it would set a dangerous precedent.

 

[CornwallRam]

I wonder how a Pheonix club could fit in to all this?

I don't think it be possible for the administrators to sell the golden share (membership of the league) without the new club taking on debt. However, I do think that if liquidation becomes the only option, a new company could buy the trademarks and memorabilia and simply be seen as a continuation of Derby County, similar to what happened with Rangers. It would effectively wipe away all the debts.

I think the big difference would be that we'd have to restart below EFL level, so we wouldn't be able to afford Pride Park until we (hopefully) managed a few promotions. 

[OoooMarkWright]

6 hours ago, Seth's left foot said:

Let’s take a deep breath!

If this story has more truth than clickbait in it then there is an easy solution that I’m sure isn’t mentioned (I don’t click on scummy press links).

Get to January and reluctantly sell our assets of Lawrence ( not much because of his contract), Bird,Knight etc

Clubs will be queuing up to pick the meat off the bones but we should be able to find maybe £15m? Derby won’t be sunk over £5m surely?!

We’re going down so the only priority now is taking to a League One pitch next season. 

I don’t think a fire sale will raise too much. We took advantage of it with Wigan. Lawrence worth next to nothing. Only saleable assets at the minute are Bird and Knight. We owe money on Jozwiak and Bielik. Reckon we’d raise about 5 million. Still 15m short. 

[Boycie]

Just promise to pay the hmrc some more on promotion to the prem.

Or just write it off then ?

[alexxxxx]

14 minutes ago, CornwallRam said:

I wonder how a Pheonix club could fit in to all this?

I don't think it be possible for the administrators to sell the golden share (membership of the league) without the new club taking on debt. However, I do think that if liquidation becomes the only option, a new company could buy the trademarks and memorabilia and simply be seen as a continuation of Derby County, similar to what happened with Rangers. It would effectively wipe away all the debts.

I think the big difference would be that we'd have to restart below EFL level, so we wouldn't be able to afford Pride Park until we (hopefully) managed a few promotions. 

In all honesty if there was a phoenix club if be more worried that pride Park gets redeveloped into flats or something by whoever buys it. 

[Tombo]

We're not getting liquidated, calm down. When did we start believing the Daily Mail ffs?

[Carnero]

4 minutes ago, Tombo said:

We're not getting liquidated, calm down. When did we start believing the Daily Mail ffs?

You know it's CLICKBAIT when the most emotive word of the headline is written in capital letters.

[CBRammette]

If I was a mega-rich Derby fan with rich Derby fan mates but who didnt want to own the club I would be on the phone to them to raise that money. To them it would just be the equivalent of us raising the St John Ambulance debt. 

[TheresOnlyWanChope]

Whatever your thoughts on daily mail, they were right with the minus 21 deduction. And now this article says it is unlikely HMRC will accept less than full payment which is contradictory to what many think. I really think there could be no club next season.

[PistoldPete]

Usual Daily Mail stuff. Worst case scenarios . Unnamed sources. Not a single named source . Shabby as usual.

I would expect a deal to be done with HMRC. not at 25% , not at 100% but at something in between.

but really this is exactly why I don’t understand why the force majeure defence was not pushed more. The losses which Qunatuma say are due to COVID , between £30 million and £40 million actually exceed this HMRC debt. 

so that’s an argument both for force majeure and against any attempt at moral blackmail.