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The Administration Thread


Boycie

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My feeling is the EFL will see it as job done once the window is closed.  I think they want the window to pass by with no additions, the short-term contracts departing and possibly some sales, so it cements this season's outcome.  

It was getting to close for them as the results were going in my honest opinion.

 

Off topic, but aside from Baldock and Jagielka, who else is on a deal that is up soon? Morrison? 

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4 minutes ago, Sparkle said:

So 

The administrators caved in to the 9 point blackmail deduction to get things moving 

the administrators caved in to the 12 point blackmail administration deduction appeal 

the EFL expect the administrators to cave in to the Middlesbrough and Wycombe blackmail 

I haven’t missed anything have i?

The only bit you've missed is if the claims are completely worthless, the PB should be happy to guarantee funding no matter.

I suspect though that the PB doesn't trust the EFL to act as an honest broker in the space, and therefore won't stand up funding because they don't expect a fair hearing. They're therefore calling the EFL's bluff to say are you happy to see the club get liquidated and everyone get nothing just to keep a couple of clubs with spurious claims happy - and lest we forget if we go bust and our results are expunged that may change who gets promoted - and who's going to get sued then?

Trouble i'm not sure the EFL are thinking rationally, and so it's all going to end in tears
 

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Just now, Sparkle said:

On the legal front I can’t make out what exactly the administrators are saying 

Are they saying that the EFL are breaking their own rules? 
or 

Are they saying that the EFL are breaking the law of the land?

I have the same misunderstanding.  

 

I wouldn't have thought it was a law of the land.  

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26 minutes ago, Ramtastic ones said:

Just mailed this to talksport.

 

Talk sport team

 

What are your views on Boro and Wycombe suing Derby for loss of revenue and the efl's stance in blocking a deal until this is resolved?

 

What do you think to the president that Boro and Wycombe's stance sets for future seasons and if you think suing Derby is justified should Derby sue villa and QPR who breached FFP in the seasons they beat Derby in the play off final, thus levelling the playing field?

 

 

18 minutes ago, Abu Dhabi Ram said:

I’m going to borrow this if you don’t mind! 

I implore you... Please don't copy and paste it! 

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3 minutes ago, SBW said:

My feeling is the EFL will see it as job done once the window is closed.  I think they want the window to pass by with no additions, the short-term contracts departing and possibly some sales, so it cements this season's outcome.  

 

Can some arrange for a telecoms/power outage in the Derby area for the last couple of days of Jan....

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2 minutes ago, Sparkle said:

On the legal front I can’t make out what exactly the administrators are saying 

Are they saying that the EFL are breaking their own rules? 
or 

Are they saying that the EFL are breaking the law of the land?

I’m a bit unsure too, but I’ve never heard EFL rules called statutes.

it reads to me like the EFL are demanding we treat ‘Boro and Wycombe as a type of creditor that legally we aren’t allowed to do.

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2 minutes ago, Curtains said:

A train of thoughts is Gibson might settle for 10 Million but even that seems too high with the other debts .

You could have 10 bidders but none of them will proceed until Boro/Wycombe sorted .

MSD I doubt will loan anymore so the only option is player sales to provide cash to pay wages of players and staff and general club costs. 
It looks like the EFL want us down this season before compromise can be reached 

Very sad indeed 

Boro are at risk of their own FFP breach (see daily telegraph - not Derby). He would have known that was coming and hence lodge the case in the hope of a fast buck to avoid acute embarrassment and cause us grief at the same time.

C U Next Tuesday in court Mr G.

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Unless the  EFL or Middlesbrough have a sudden change of heart, I think this is the end for this iteration of Derby County

Logically, I don't think the administrators can now trade to  a better position for the creditors than liquidation offers.

They could try to sell a couple of players to keep us going, but that's depleting the assets, with no exit route in sight. It's not going to be in the interests of the creditors to do that whilst the spurious claims prevent a takeover, and the administrators can't fight the case themselves  - they could not assume the potential liability.

Mike Ashley is the only hope, but I think he has a better option, To get out of this we need enough cash to keep playing whilst fighting the case at the arbitration panel. That's likely to take a year. So we'll need about £10m and someone to underwrite the potential award, should we fall foul of the EFL constituted panel.

So Ashley could give us £10m to keep us afloat, but then, even if we win the case, have to find £60m to get us out of admin. Of course we should win the case and almost certainly would in a fair hearing, but this is the EFL, so even that would be a risk. Of course, we'll have been in embargo for that year, so we're likely to be deep in relegation trouble in League 1. Ashley is not going to pay £70m for a club heading downwards towards League 2 with a week squad.

What he could do is to buy the name for a few million and restart the club. It would take all his negotiating skills, but he may well be able to secure a place in the Conference North. Throw a few million at it and a couple of years later he's got a League 2 club for less than £10m. Then he buys the white elephant that is Pride Park for a few of million and he's got a bargain deal.

IMO it looks quite possible that tomorrow could be the last game of the season and the last for The Derby County Football  Club Ltd. Derby County will live on, but it won't technically be the same club.

 

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5 minutes ago, Indy said:

But Boro already tried to be added as an affected party to the previous arbitration and it was thrown out. So why would they be able to pursue arbitration now (is it not the same case)? And if it is a different case, then why aren’t they proceeding with the arbitration so it can be resolved? Or filing papers in court?

 

Basically, we’re being held up because a procedure isn’t complete, but the affected parties are the only ones who can influence the timescale and they benefit from it being in limbo. 
 

As I said before, currently there is no official action been taken by them, only threats, so I don’t understand what there is to be officially resolved. 

Middlesborough were prevented from joining in on the Stadium sale / amortisation process because the EFL correctly applied the rules that there was an established process for the EFL to take action against Derby. A decision was made ultimately by the LAP, wrongly in my view but Derby shot themselves in the foot too, but nonetheless that is where it should have stopped. Decision made, punishment applied, everyone moves on.

Gibson though clearly was was wound up by Morris, and is now taking vexatious action to say that the punishment meted out to Derby was insufficient given the loss of income his club potentially suffered. Under EFL rules that claim needs to be separately arbitrated. That arbitration process will take ages to organise, and the Club will want to resist it as I understand (only from reading on here) that any decision of the LAP is final, and there is no appeal.

There is no official action or claim from Boro as they are prevented from taking action against a member club through the Courts under EFL rules. They can only pursue action as detailed above.

In my view, caveated by I am no lawyer, there is a strong case for Quantuma to take on the EFL via court injunction to stop them interfering with their statutory duties to creditors under the IA86. Hopefully that is true, and money will be found to stop the arbitration affecting the sale of the club. Hopefully the ruling will also determine that if Boro want to action a claim it has to be via a court action not a LAP kangaroo hearing.

I have not mentioned Wycombe in this as they just being a complete nuisance, with no reasonable claim whatsover.

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