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Alan Nixon Breaks Silence on American Billionaire Bid

Kernow

By Kernow
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RamsfanJim
RamsfanJim

We're OK to share this - full minutes on Monday now..  * There are 3 interested bidders that Quantuma are still negotiating with. Each bid is complicated and each is taking time for Quantuma to f

i-Ram
i-Ram

After 8 weeks of silence, DET are today reporting that Mel Morris can be heard on Desert Island Discs this coming Sunday on BBC Radio 4 https://www.derbytelegraph.co.uk/sport/football/mel-morris-

angieram
angieram

I could re-write that article saying CK is coming over to further demonstrate his commitment to buying the club and to see what he can do to help speed up the process. Nothing factual would have chang

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jono

jono

Posted
Posted
1 hour ago, SBW said:

I'm not saying they wont accept some form of deal, whether that's a small drop or some form of payment plan.  But i've seen Pistold repeatedly claim they'll 'have' to accept something like £7m (25%).  

 

They're going to want way over that, because that's what they've fought for.  If they fought hard for that, they're going to want substantial returns on the money they are owed, else why would they have fought for it?  It's just logical sense.

 

Considering how long this has been ongoing, you have to assume the admins have said, 'is this a goer' and they've said, 'no'.  Else it would have been done by now.  Why are Kirchner taking so long? The admins wanted it done before Jan initially, if someone is up for it and the deal can be agreed with the creditors, it would be well in motion, but it's not.

 

I can only speculate either HMRC are playing hardball, or maybe Kirchner doesn't quite have the backing to get he deal done, as it's getting worse, not better for a potential buyer.  It's not getting any cheaper, and the club could end up losing significant talent/value.  If the deal could have already been done, the sale of such assets would end up in the club/owners's coffers, but now it will end up just going towards existing debt.

 

All smells very much like HMRC aren't wanting to budge, considering the deal they fought hard for as creditors. 

I think you’re wrong. Yes they have fought for a better place in the queue but that doesn’t alter the money available.

Thet get first dibs, that is all, but it’s first dibs of what a new owner offers .. or liquidation. It’s pretty clear given MSD’s debenture that there will be precious little on liquidation so they are in a quandary. 

None of this affects the “deal” you talk about. The rules as they stand regarding their status in the queue of creditors remains the same. They haven’t lost that status, regardless of how much or how little they get. 

 

 

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PistoldPete

PistoldPete

Posted
Posted
1 hour ago, SBW said:

I'm not saying they wont accept some form of deal, whether that's a small drop or some form of payment plan.  But i've seen Pistold repeatedly claim they'll 'have' to accept something like £7m (25%).  

 

They're going to want way over that, because that's what they've fought for.  If they fought hard for that, they're going to want substantial returns on the money they are owed, else why would they have fought for it?  It's just logical sense.

 

Considering how long this has been ongoing, you have to assume the admins have said, 'is this a goer' and they've said, 'no'.  Else it would have been done by now.  Why are Kirchner taking so long? The admins wanted it done before Jan initially, if someone is up for it and the deal can be agreed with the creditors, it would be well in motion, but it's not.

 

I can only speculate either HMRC are playing hardball, or maybe Kirchner doesn't quite have the backing to get he deal done, as it's getting worse, not better for a potential buyer.  It's not getting any cheaper, and the club could end up losing significant talent/value.  If the deal could have already been done, the sale of such assets would end up in the club/owners's coffers, but now it will end up just going towards existing debt.

 

All smells very much like HMRC aren't wanting to budge, considering the deal they fought hard for as creditors. 

I have not said they have to accept £7m. We don’t know what the buyers have offered. It will be no less than £7m. It may be more.

Hmrc should aim to get the best they can. If they force liquidation then they get nothing.

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PistoldPete

PistoldPete

Posted
Posted
1 hour ago, SBW said:

I'm not saying they wont accept some form of deal, whether that's a small drop or some form of payment plan.  But i've seen Pistold repeatedly claim they'll 'have' to accept something like £7m (25%).  

 

They're going to want way over that, because that's what they've fought for.  If they fought hard for that, they're going to want substantial returns on the money they are owed, else why would they have fought for it?  It's just logical sense.

 

Considering how long this has been ongoing, you have to assume the admins have said, 'is this a goer' and they've said, 'no'.  Else it would have been done by now.  Why are Kirchner taking so long? The admins wanted it done before Jan initially, if someone is up for it and the deal can be agreed with the creditors, it would be well in motion, but it's not.

 

I can only speculate either HMRC are playing hardball, or maybe Kirchner doesn't quite have the backing to get he deal done, as it's getting worse, not better for a potential buyer.  It's not getting any cheaper, and the club could end up losing significant talent/value.  If the deal could have already been done, the sale of such assets would end up in the club/owners's coffers, but now it will end up just going towards existing debt.

 

All smells very much like HMRC aren't wanting to budge, considering the deal they fought hard for as creditors. 

Hmrc has fought for preferential status. Which they have. 

I am sure  they will get the best they can. I suspect it won’t be much more than £7m. It will be nothing on liquidation.

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hintonsboots

hintonsboots

Posted
Posted (edited)
1 hour ago, rebb1 said:

Guys,

I'm not ITK but I have been in the company today of someone who is close to the proceedings and I was told that a £55 million bid has been submitted. No names or details as yet.

What do you mean by close to the proceedings? Also that would suggest a settlement has been reached with HMRC  and W****** and B***. 

Very dodgy information if true.

Edited by hintonsboots
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I know nuffin

I know nuffin

Posted
Posted
1 hour ago, IslandExile said:

Since Mel still owns the ground and the MSD debt is secured against that, isn't it Mel's debt?

Clearly if the new owner wants the ground, and of course they will, Mel may hold out for payment of the debt as part of the negotiation on the ground.

Thought that was the case since very early on. But the stadium, or the company holding it, for the price of the loan. Makes Morris near enough giving it away

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BramcoteRam84

BramcoteRam84

Posted
Posted
17 minutes ago, hintonsboots said:

What do you mean by close to the proceedings? Also that would suggest a settlement has been reached with HMRC  and W****** and B***. 

Very dodgy information if true.

Not necessarily. Could well be that’s what I’m prepared to pay so you need to negotiate the debts down accordingly. Anyone who knows all the debt figures (preferential/secured/unsecured) worked back to understand what we would need to get HMRC to accept should £55m be the top price anyone is prepared to pay? (not agreeing this is necessarily the figure by the way)

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