The Administration Thread

[PistoldPete]

21 minutes ago, atherstoneram said:

But at this moment we don't have any or very little, if the administrators can't bring things to a satisfactory conclusion they will have no option but to liquidate the club.

That isn’t how it works. We stay in admin until there is no realistic chance of finding a buyer. We are some way off that yet.

[AndyinLiverpool]

As far as I can remember, the end of January was always the point where we cease to exist without more funding. What's changed?

Ok, Rooney raised hopes yesterday and the admins have been on this 'soon, honest' wind up for months now but nothing has actually changed. 

It's about as surprising as the club going into admin in the first place.

[Tombo]

7 minutes ago, dantheram said:

isn't the risk here that we are worth more dead than alive? The EFL will have all they need to push for improved distribution of wealth, or is that not the play they're making? if it isnt, any ideas as to what it is? 

Yes I think we're headed for martyrdom. No good to us that

[rammieib]

Forgetting the ridiculousness of the Boro and Wycombe claims but surely, if you're Steve Gibson, you would want a new owner to take over as its the only way Derby have any cash in the future to actually pay him?

At the moment - if the legal claims are halting the takeover and Boro/Wycombe are hoping to get an Agreement and that puts them onto a creditor position, well, even a few million is basically going to wipe Derby out as I don't see a bidder accepting this, so we liquidate.

If the takeover can happen, with Appleby accepting the risk, it surely adds cash flow into the club, takes us out of admin and then the legal case can take place.

I really don't understand what is happening unless 1) Appleby wants the legal cases resolved before he takes over (but then that contradicts some recent comments he's made about being ready) and 2) there is no other formal bid on the table.

We've surely got to the point now where The Admins just have to put everything on the table and be completely transparent?

[Sparkle]

17 minutes ago, S8TY said:

No …I’m pretty certain both Boro and Wycombe cannot be creditors as nothing has been settled they are though trying to force us to negotiate a settlement …I personally would tell them parasites to FO

I know that is what they intend to do yet maybe the EFL have agreed with them that they should be treated as football creditors which I totally disagree with 

[duncanjwitham]

1 minute ago, Ghost of Clough said:

We could only sign players with EFL approval. Same for extending deals. Nothing is exactly new

Clearly the admins thought they were in a position where the EFL would allow signings/renewals to be made, so either the admins completely failed to understand the rules they were working to, or something has changed with the EFL's stance.

[i-Ram]

One of the immediate problems I suspect is that Lech Posnan are due £2.2m in early February.

I say we turn our back on them.

[Half Fan Half Biscuit]

WR no doubt angry because he could see the glimmers of hope we might still be in Championship next season.

Will probably now have to pick up the bits left after January window and put in place his plan for L1.

[Sparkle]

19 minutes ago, JuanFloEvraTheCocu'sNesta said:

Wouldn't surprise me if he walked at this point. If we come out of this transfer window having lost a load of key players then what motivation does he have to stay? Survival will be impossible. He's already enhanced his reputation. He can sit by the phone and wait for a fresh opportunity, I'd imagine he wouldn't have to wait for too long.

They can still sell players outside the transfer window but they just can’t play for the new club if that happened - Portsmouth were allowed to do that 

[Gee SCREAMER !!]

1 minute ago, Half Fan Half Biscuit said:

WR no doubt angry because he could see the glimmers of hope we might still be in Championship next season.

Will probably now have to pick up the bits left after January window and put in place his plan for L1.

He'll be gone by end of the weekend 

[RoyMac5]

1 minute ago, AndyinLiverpool said:

As far as I can remember, the end of January was always the point where we cease to exist without more funding. What's changed?

Ok, Rooney raised hopes yesterday and the admins have been on this 'soon, honest' wind up for months now but nothing has actually changed. 

It's about as surprising as the club going into admin in the first place.

I really wonder how the EFL 'moved the goalposts' as has been suggested.

Don't you think that Rooney would have had to have been convinced by Admin after all he's been through already with 'new owners' poo? So they must have all been convinced things were going to change somehow in a positive way for the Club.

[Ram1988]

If we have to sell players to raise a fee. Who would we let go? Sibley and Buchanan? 

[Yani P]

Smacks a bit of...EFL EFL Derby won't sell us their young talent for peanuts.  Don't worry, we will have a meeting and sort that out for you..

[TomTom92]

5 minutes ago, Black ('n' White) Sheep said:

Apparently Man Utd were willing to help WR out by loaning us players without a fee... how about they now help us out as a club by signing someone (anyone at this point... Knight, Sibbo, everyone will be on the table) for £5m-£6m to see us through the end of the season? A decent price for players with the potential to be good Prem players in the future?... and we still get to exist.

Thought this myself but maybe them paying £6m for Knight may raise a few questions from their fans. Even though that’s still a bargain for a player of his potential.

[PistoldPete]

3 minutes ago, AndyinLiverpool said:

As far as I can remember, the end of January was always the point where we cease to exist without more funding. What's changed?

Ok, Rooney raised hopes yesterday and the admins have been on this 'soon, honest' wind up for months now but nothing has actually changed. 

It's about as surprising as the club going into admin in the first place.

Why do you think the admin team had a positive view that has now changed? 
 

Someone has made things more difficult than they expected. Who?

A clue maybe that yesterday there was a meeting with the Efl. So something changed there. 
 

jagielka offered and agreed a new deal. now cancelled. 
 

seems pretty clear the Efl are ducking us around.

[ColonelBlimp]

1 hour ago, falconram said:

Selling players to reduce debt Is fine as long as the going rate or near as is paid, the offer for Sibley was quite frankly abysmal, the offer wouldn't cover a weeks salaries. The EFL tried to make Birmingham sell Che Evans for a poultry amount   the whole lot stinks, the EFL won't be happy until they wave us goodbye. 

Chicken feed it was if I recall.

[PistoldPete]

4 minutes ago, RoyMac5 said:

I really wonder how the EFL 'moved the goalposts' as has been suggested.

Don't you think that Rooney would have had to have been convinced by Admin after all he's been through already with 'new owners' poo? So they must have all been convinced things were going to change somehow in a positive way for the Club.

Exactly. Owen Bradley says he and rooney and everyone are behind the admin team so they’re not the culprits. 

Edited January 14, 2022 by PistoldPete

[Ambitious]

36 minutes ago, Barney1991 said:

 

this sounds like a ploy to the bidders now either commit and take the challenge on or players are going to me 

If I was a Derby County player with a career in the sport, even as a Derby fan, I'd be banging the door to get out of the club. If I was the agent of any of the players in the club I would've worked day and night to get them out the club long before now. It's just as unfair on the current playing squad as it is ourselves, perhaps more so as for the past 12 months they've been told one thing then something else as happened.

As we sit here today, we can't even guarantee the club will be an entity in the next 5 months hence the actions by the EFL. What sort of self-respecting professional footballer would want to play in that environment? I can't imagine anything worse. I'd imagine most people on here will have been in companies where cuts are happening and the future is unsecure. Now, imagine you have the opportunity to get away from that environment to another that will offer you a secure future and perhaps more money. It's an absolute no-brainer. The players who are still here need to get their agent ducked off as soon as possible.  

[erathirea]

Sell Knight to Man Utd for £6m, with an agreement to loan him back until June 2023, and with a buyback clause of £12m. Win all round, right? ?

[Stedcfc]

5 minutes ago, rammieib said:

Forgetting the ridiculousness of the Boro and Wycombe claims but surely, if you're Steve Gibson, you would want a new owner to take over as its the only way Derby have any cash in the future to actually pay him?

At the moment - if the legal claims are halting the takeover and Boro/Wycombe are hoping to get an Agreement and that puts them onto a creditor position, well, even a few million is basically going to wipe Derby out as I don't see a bidder accepting this, so we liquidate.

If the takeover can happen, with Appleby accepting the risk, it surely adds cash flow into the club, takes us out of admin and then the legal case can take place.

I really don't understand what is happening unless 1) Appleby wants the legal cases resolved before he takes over (but then that contradicts some recent comments he's made about being ready) and 2) there is no other formal bid on the table.

We've surely got to the point now where The Admins just have to put everything on the table and be completely transparent?

I'm pretty sure the issue here is that its very unlikely that Boro would win the case in court, but its also possible that the bidders aren't willing to take on the club with this potentially enormous liability hanging over us that they would have to pay if Boro did win in court. This leaves us in a position where we have to settle out of court to proceed with a sale. Therefore its perfect for Boro to push us now and get some money from us from their point of view.

 

I think its highly likely that the bidders offers include something that the admins are struggling to meet. Either the money they are offering doesn't meet the creditors requirements and they aren't willing to accept their pence in the pound offer, or their offers are based on the legal issues being resolved (which they aren't) and we can't resolve them because we have no cash. Appleby being ready and the club being able to meet the terms of his offer are different things I guess.