Alan Nixon Breaks Silence on American Billionaire Bid

[Curtains]

42 minutes ago, Chester40 said:

Is there an award for the most idiosyncratic poster?

I can't describe your style @Curtainsbut it's very singular...I can never work out if you are old/young,  joking/serious?

I’m old enough to remember all this lol

 

[sage]

2 hours ago, Oldben said:

Nixons seems to be merely pointing out that, the required funds, whatever amount that might be is greater than the amount Gadsby has without another business partner. So gadsby and Appleby join forces, but even if they have the funds to commit to repayment of debts, I'm left wondering, how much is left to rebuild the club.

Nixon states that Kirchner is the only one to show proof of funds to pay the debt.

I'm thinking that means he has money to rebuild the team as well.

I wasn't greatly impressed, the last time Gadsby and Appleby owned Derby, to me it felt like a project for them.

We had in my opinion, been badly managed by the owners, previous to their tenure and then along comes Appleby and Gadsby who help to stableize the club before selling at a profit to Mm.

Mm on paper looked ideal to own the club, vast wealth and local connections.

gadsby and Appleby, is it a project for them again, buy Derby, stableize the club and sell at a profit.

Like a toy.

I'm wondering about kirchners motivations but just maybe he sees it as longer term thing that gadsby & Appleby do.

 

So who did you like as an owner?

Mel Morris?

Three Amigos?

 

[Curtains]

36 minutes ago, Van der MoodHoover said:

Having personally met Curtains ican confirm he is in his prime.... ?

I’m past my prime lol. 

[CornwallRam]

3 hours ago, PistoldPete said:

That's BS from Nixon. He favours the Kirchner bid. And how is it EFL insist buyers need £50 million? Its not up to the frigging EFL to name a buyer's price.  

The EFL do make stipulations. We have to pay football creditors in full to remain in the league. In theory we could still treat them as an unsecured creditor, pay them a percentage, get a CVA and exit administration as a Conference club.

They also stipulate that the unsecured creditors get at least 25% or we get a points deduction next season.

So in theory, there is an EFL approved minimum figure for existing administration. Whether that is £50m or not is anyone's guess though.

[B4ev6is]

As I said I think who ever takes are going have to wipe the debts in one go.

[PistoldPete]

4 minutes ago, CornwallRam said:

The EFL do make stipulations. We have to pay football creditors in full to remain in the league. In theory we could still treat them as an unsecured creditor, pay them a percentage, get a CVA and exit administration as a Conference club.

They also stipulate that the unsecured creditors get at least 25% or we get a points deduction next season.

So in theory, there is an EFL approved minimum figure for existing administration. Whether that is £50m or not is anyone's guess though.

 £9 million football creditors. £32 million other unsecured creditors.  So 25% of the rest is another £8 million. So the minimum price on EFL's basis is £17 million. Plus whatever happends to MSD loan , which could be rolled over.

[Curtains]

9 minutes ago, CornwallRam said:

The EFL do make stipulations. We have to pay football creditors in full to remain in the league. In theory we could still treat them as an unsecured creditor, pay them a percentage, get a CVA and exit administration as a Conference club.

They also stipulate that the unsecured creditors get at least 25% or we get a points deduction next season.

So in theory, there is an EFL approved minimum figure for existing administration. Whether that is £50m or not is anyone's guess though.

I know you are very astute mate. 
What IYO is  going to be the outcome of all this. 
Are you encouraged at the moment 

[SirBrian]

Administrator have been a lot more open than i would have expected maybe to much, and like any solicitor they will work at snails pace for they are making a good wage, however they have stated that there are still 3 interested parties, positive talks with HMRC so for us why worry for we are uable to do anything about it, and can only wait for the outcome, for myself i will stay positive and pay no attention to the gutter press for they no nothing.

In the words of Bob Marley,   Don't worry about a thing,  Cause every little thing gonna be all right.

[NottsRammy]

I dont mind Mr Kirchner at all but must admit Gadsby and Appleby teaming up does come across quite well . 

[SBW]

3 hours ago, PistoldPete said:

But that's not up to EFL , apart from their rule saying we need to pay at least 25% to creditors, and pay all football creditors. Which is nowhere near £50 million. 

It's not up to the EFL what is paid to purchase the club, but it's up to the EFL to ensure any person(s) purchasing a club have the funds available to them to make the purchase, it's part of the fit and proper testing I am fairly sure, and it makes sense as to why. 

[BramcoteRam84]

The £50m to buy club/clear debts + £50m to operate the club going forward was a stipulation the Administrators made early on not the EFL, fact it broadly aligns with what the EFL is looking for makes sense and will help any buyer navigate the process quicker. 

[RAM1966]

3 hours ago, Arsene Titman said:

Appleby’s company is effectively an estate agency dealing in football clubs. It pairs potential investors with clubs for sale so what matters is who are the money men behind the Appleby/Rush bid. It has been rumoured to be a hedge fund or private equity investors. If that is true then it is a little surprising that they cannot “pay the bills” as part of a takeover, let alone invest in building the team. I like the CK bid but nothing that I have seen on the internet tells me that he personally has the funds, although the administrators are satisfied that he has.

A hedge fund would never invest in a football club, everyone knows only a few clubs in the world actually make money out of football.

[PistoldPete]

17 minutes ago, BramcoteRam84 said:

The £50m to buy club/clear debts + £50m to operate the club going forward was a stipulation the Administrators made early on not the EFL, fact it broadly aligns with what the EFL is looking for makes sense and will help any buyer navigate the process quicker. 

Well we would all look to clear debts. I would like to clear my mortgage too.

Doesn't mean that there is a minimum price. The admin team wil look to sell to the highest bidder.

[derby8]

2 minutes ago, RAM1966 said:

A hedge fund would never invest in a football club, everyone knows only a few clubs in the world actually make money out of football.

A hedge fund might see capital growth potential placing a bet on Derby getting into PL and expanding stadium up to 41,000.

[PistoldPete]

1 hour ago, SirBrian said:

Administrator have been a lot more open than i would have expected maybe to much, and like any solicitor they will work at snails pace for they are making a good wage, however they have stated that there are still 3 interested parties, positive talks with HMRC so for us why worry for we are uable to do anything about it, and can only wait for the outcome, for myself i will stay positive and pay no attention to the gutter press for they no nothing.

In the words of Bob Marley,   Don't worry about a thing,  Cause every little thing gonna be all right.

The little things may be alright. It's the big things that worry me. But yes I think you are right the fact there are three bidders still negotatiating is a good thing, just want the process to reach  happy conclusion, hopefully next week. .

[Rammeister]

I don’t mind who takes over- as that means the club survives in its current form, rather than becoming a so-called phoenix club called AFC Derby County with a new crap logo, playing in a pub league.

[G STAR RAM]

4 hours ago, RAM1966 said:

The Admin came out on day one and said they were confident of a sale.  Maybe Mel briefed them quickly as to the state of the club.  I doubt it though!

That looks like they were speaking prior to having a good look at the accounts.

If we were losing £9m a year under GSE, how did they manage to reduce the debt to £15m.  An affordable mortgage on the stadium?

We stuck with Negative Nigel far too long!

I'd love to be able to turn back the clock and have a sustainable club again, instead of the insolvent mess we find ourselves in....

I believe that the administrators had already reviewed the finances (on behalf of MSD) prior to being  officially appointed as administrators.

When you say GSE reduced the debt to £15m, what do you believe they reduced it from?

Not sure when you think we were sustainable and your argument about sticking with NC seems to fly in the face of your own argument. Sure SM took us to the next level but that was also on the back of the purse strings being loosened.

[BramcoteRam84]

8 minutes ago, PistoldPete said:

Well we would all look to clear debts. I would like to clear my mortgage too.

Doesn't mean that there is a minimum price. The admin team wil look to sell to the highest bidder.

Not saying that. Of course there is a minimum price, that’s the game most likely being played at the moment what is each bidder prepared to pay. Just clarifying  where the £50m + £50m has come from and it was put in by the administrators as a credibility test knowing the EFL are likely to be looking for proof of funds to operate the club post purchase 

[CornwallRam]

1 hour ago, Curtains said:

I know you are very astute mate. 
What IYO is  going to be the outcome of all this. 
Are you encouraged at the moment 

My thoughts are that there's no immediate threat of liquidation. Three interested bidders and loan funding in place. We've also got January to sell some players to raise cash if needed. 

I think Covid is the biggest threat as, imo, there's going to be no crowds at matches for the next couple of months. I reckon we'll need to find a couple of million extra to get to the end of the season. I suspect that we'll see Jason Knight wearing Claret in January.

I'll be getting worried if we're still in adminstration in April - I don't think we could legally sell season tickets so it's hard to see how we  could get through the summer. Mind you, we'll only have about 8 players under contract, so maybe selling  another player would tide us over.

[Ram-Alf]

20 minutes ago, RAM1966 said:

A hedge fund would never invest in a football club, everyone knows only a few clubs in the world actually make money out of football.

SISU?