The Administration Thread

[Barney1991]

22 minutes ago, Cam the Ram said:

The update is pretty much as expected - there is no update. Yet more delays.

 

Following the questions BAWT sent to Quantuma last week, the Administrator called to update us on the situation. Here is the latest information we have...

 

There are no material changes in the situation since our last meeting. While the Administrators were hopeful of quicker progress and hence the use of the word imminently, this didn't happen for various reasons. That said, the Administrators are hopeful of naming a preferred bidder possibly this week. There are still two interested parties.

 

Discussions have been held with all bidders for the transfer of the ground under separate terms to the purchase of the club. The owner of the Ground, Mel Morris, and the Administrators are completely aligned in this respect.

 

Provisions are in place for short-term funding until a preferred bidder is named. Part of the negotiations with the proposed preferred bidders is their ability to assist in funding until the deal is finalized.

 

Discussions are being held with regard to contract extensions and permissions being sought from the EFL to do this.

 

While sales cannot be 100% ruled out in this window, the administrator's preference is that any sales will be handled by the preferred bidder in line with their plans for the club/squad and as part of the funding requirement as referred above.

 

Despite various stories in newspapers and on Twitter, there is no further progress with the claims of Middlesbrough and Wycombe, but these will not prevent a preferred bidder from being named. After that Carl hopes further discussions can take place with all parties and hopes an agreement can still be arrived at.

https://www.dcfcbawt.org/post/black-white-together-s-meeting-with-the-administrators-10-01-2022

 

There is 1 major update and that is the 2 stories in the paper are bo**ocks and the claims are not holding up naming a preferred bidder. That line was worth the update alone for me as it puts people minds at ease 

[alexxxxx]

26 minutes ago, Cam the Ram said:

Despite various stories in newspapers and on Twitter, there is no further progress with the claims of Middlesbrough and Wycombe, but these will not prevent a preferred bidder from being named. After that Carl hopes further discussions can take place with all parties and hopes an agreement can still be arrived at.

https://www.dcfcbawt.org/post/black-white-together-s-meeting-with-the-administrators-10-01-2022

 

It upsets me that boro and or Wycombe are going to get money out of this. The agreement will be that Derby/new owner will pay em £5m quid to shut up to allow the takeover to complete with meritless claims. 

It's very much the same as us 'agreeing' the ffp points deduction, where no claim actually gets examined because Derby have no time due to the admin. 

Also, I thought the stadium had reverted to MSD??

Edited January 11, 2022 by alexxxxx

[Rich84]

I see this as a positive,  there are so many doom merchants saying it's all going tits-up because of Boro and Wycombe and funding etc, or the ownership of the ground, reading too much into click bait journalism and the twitter frenzy that sets off as a result. 

Realistically,  interested parties are still interested despite having to deal with MM separately for the sale of the grd, which as far as the administrators are concerned is irrelevant to the creditors they are looking after,  so the numbers bandied around for ownership may not even have this taken into account, the owner of the club doesn't have to own the grd, it's just preferable.

No movement with Boro etc can also mean they don't have EFL support, but most importantly they have squashed the comments that a preferred bidder can't be announced until that is sorted.

Also, they have stated we are good for funding in short term, and part of the preferred bid would be to help with funding thereafter,  which is in everyone's best interest as again it keeps the club viable, so the imminent liquidation view can be put to bed. Clearly stating the preferred bidder will have an influence in player sales if any is also a positive. 

Just let it run it's course, it's only been 4 months which as said before, is a short period for a football club in administration especially with the complexities we have.

[kevinhectoring]

24 minutes ago, PistoldPete said:

We now know there are two interested parties... oh and just for Iram's benefit that Mel Morris owns the ground. 

Very disappointing obviously for @i-ram to learn that Lucifer from Littleover is not the cause of the problem  ?

[Cam the Ram]

10 minutes ago, Barney1991 said:

There is 1 major update and that is the 2 stories in the paper are bo**ocks and the claims are not holding up naming a preferred bidder. That line was worth the update alone for me as it puts people minds at ease 

True, but we're still none the wiser as to what exactly is the reason the preferred bidder announcement is being delayed. We've been told an announcement is imminent now since before Christmas and each an update comes out we aren't usually told what the hold up is. This time it's, "various reasons."

[Rich84]

7 minutes ago, alexxxxx said:

It upsets me that boro and or Wycombe are going to get money out of this. The agreement will be that Derby/new owner will pay em £5m quid to shut up to allow the takeover to complete with meritless claims. 

It's very much the same as us 'agreeing' the ffp points deduction, where no claim actually gets examined because Derby have no time due to the admin. 

Also, I thought the stadium had reverted to MSD??

And where does it say they will get £5m?

Why would the stadium be in MSD control, Mel doesn't owe them money, the club do and until the admin process is sorted nothing will happen there.

This is the problem with the whole scenario,  people making up stories ? 

[RAMS1992]

Should we be concerned that the wording is the claims won’t prevent a preferred bidder being held up and not that it won’t prevent a takeover?

[admira]

9 hours ago, one_chop said:

Maybe Steve Nicholson from the D.E.T could rebuild his journalistic reputation by taking up the baton instead of regurgitating news articles from elsewhere and turning them into click bait.

Graham Richards would sort them out!

[kevinhectoring]

7 minutes ago, Rich84 said:

but most importantly they have squashed the comments that a preferred bidder can't be announced until that is sorted.

I think they are saying something different. They are saying: our original intention was to name preferred bidder, with a clean route map to exit. Unfortunately, this Gibson nonsense means we have to announce PB without an assured exit and hope the PB can sort out Gibson

This is a vital difference. It means the PB is not securely on the hook to buy the club. It also means the admins might not get their £5m non refundable deposit 

Edited January 11, 2022 by kevinhectoring

[BramcoteRam84]

Yeah I thought that was a good update from the administrators. I thought the whole Boro action was stopping us name a preferred bidder and agreeing our exit plan. Maybe the bidders aren’t worried about the prospect of litigation.

Its clear where the problem lies though and to be fair to the administrators, it’s a major curveball they’ve had to deal with and may not have foreseen.

[Wignall12]

3 minutes ago, Rich84 said:

And where does it say they will get £5m?

Why would the stadium be in MSD control, Mel doesn't owe them money, the club do and until the admin process is sorted nothing will happen there.

This is the problem with the whole scenario,  people making up stories ? 

Jackanory , Jackanory .......

[Barney1991]

9 hours ago, one_chop said:

Maybe Steve Nicholson from the D.E.T could rebuild his journalistic reputation by taking up the baton instead of regurgitating news articles from elsewhere and turning them into click bait.

Steve Nicholson would be useful as he would let other people do the chasing and harassing and then copy and paste it for his article ??

[Crewton]

10 minutes ago, Cam the Ram said:

True, but we're still none the wiser as to what exactly is the reason the preferred bidder announcement is being delayed. We've been told an announcement is imminent now since before Christmas and each an update comes out we aren't usually told what the hold up is. This time it's, "various reasons."

Mike Ashley only seems to have expressed interest in the last week or so - ratifying his bid against the other one isn't going to be done overnight.

[IslandExile]

49 minutes ago, Cam the Ram said:

That said, the Administrators are hopeful of naming a preferred bidder possibly this week.

"possibly"

...but highly unlikely. The wait goes on.....and on.....and on.....

[Wignall12]

40 minutes ago, jimtastic56 said:

No progress with Boro.Gibson can continue to be the pantomime villain while Pearce sits smugly watching on.

He's behind you !!

[Barney1991]

10 minutes ago, kevinhectoring said:

I think they are saying something different. They are saying: our original intention was to name preferred bidder, with a clean route map to exit. Unfortunately, this Gibson nonsense means we have to announce PB without an assured exit and hope the PB can sort out Gibson

This is a vital difference. It means the PB is not securely on the hook to buy the club. It also means the admins might not get their £5m non refundable deposit 

Tbh if it was a case we don’t leave admin cleanly and it saves the club and we get 15 points on this season I’d just take it and confine in league 1. I’d rather that than no club at all. We’ve already had 21 I know it would relegate us but we have a task on either way 

[hintonsboots]

12 minutes ago, admira said:

Graham Richards would sort them out!

This imminent claim is in absolute ruins. ?

[Tamworthram]

13 minutes ago, RAMS1992 said:

Should we be concerned that the wording is the claims won’t prevent a preferred bidder being held up and not that it won’t prevent a takeover?

Maybe but I, rather optimistically, view it as “one step at a time”. The next step is naming a preferred bidder and over coming any obstacles delaying that. Then we can move onto actually finalising the takeover and addressing any issues to complete that stage.

[RoyMac5]

21 minutes ago, kevinhectoring said:

I think they are saying something different. They are saying: our original intention was to name preferred bidder, with a clean route map to exit. Unfortunately, this Gibson nonsense means we have to announce PB without an assured exit and hope the PB can sort out Gibson

This is a vital difference. It means the PB is not securely on the hook to buy the club. It also means the admins might not get their £5m non refundable deposit 

A preferred bidder isn't hooked anyway. The admins say they are looking for 'on going' funding from the preferred bidder, so maybe the non-fundable £5m was always a non-runner?

[Dimmu]

Classic case of good change management communication. Better to tell there's no news than keep silent.

Funny how quite a few members here managed to get themselves to a meltdown-mode after reading AND believing those ducking daily rags.