The Administration Thread

[Rambalin]

 

[CBRammette]

One thing that really puzzles me is that unless I have missed it there has not been a word from Tracey Crouch on this? Following her on twitter and this week she has tweeted about pretty skies, teddies, animal welfare and vagrancy issues. Not a word. That is really strange bearing in mind she led the recent review into all of this? Why? 

[Animal is a Ram]

You say tomato, I say tomato - let's not call the whole thing off...

 

Edited January 21, 2022 by Animal is a Ram

[angieram]

The tide is turning!

[Mihangel]

Someone put together a nice simple timeline of the events of the last 4 years but I can't find it, can someone point me in the right direction? Ta.

[angieram]

10 minutes ago, CBRammette said:

One thing that really puzzles me is that unless I have missed it there has not been a word from Tracey Crouch on this? Following her on twitter and this week she has tweeted about pretty skies, teddies, animal welfare and vagrancy issues. Not a word. That is really strange bearing in mind she led the recent review into all of this? Why? 

She is no longer in charge of the fan led review and doesn't want to get involved.

[DarkFruitsRam7]

Just now, Mihangel said:

Someone put together a nice simple timeline of the events of the last 4 years but I can't find it, can someone point me in the right direction? Ta.

 

[CBRammette]

1 minute ago, angieram said:

She is no longer in charge of the fan led review and doesn't want to get involved.

Ah ok so presumably just the sports minister taking forward. 

[R@M]

52 minutes ago, Anag Ram said:

Anybody else think that the only people who will do well out of all of this are lawyers and administrators?

And fan forums? ?

[Ram-Alf]

16 minutes ago, twelveincher said:

Simon Hare reporting that Riley isn’t involved and Riley has been in touch to distance himself from last nights reports.

 

Here we go again.

I believed more about the size of your anatomy than that story from the Sun...get a grip of it lad?

[R@M]

3 minutes ago, DarkFruitsRam7 said:

 

Not really as detailed or easily read as the one posted on here…and will ‘lose’ a lot of readers both consciously and subconsciously with her spelling of lose. Loose is such a terrible error. 

[Black ('n' White) Sheep]

2 hours ago, Big Bad Bob said:

Is this going to be the most spectacular deadline day transfer in history?

New owners first order of business... give Harry Redknapp a few quid to announce the take over through a Range Rover window.

[Rambalin]

After a night planning how to stop Derby getting a takeover or finance Gibson and Parry go through their morning workout. 

 

 

[i-Ram]

9 hours ago, Animal is a Ram said:

https://ramstrust.org.uk/wp/minutes-from-ramstrust-meeting-with-the-efl-executive/

Presented without comment. ?

Its probably been covered elsewhere, but this bit is so laughable I despair:

The claims by the two clubs (Boro & Wycombe) are contingent claims – another example would be additional fees for player appearances. If a club goes into administration those additional fees would still have to be honoured if they are met in the future ie the purchaser steps into the shoes of the club in respect of football issues.

The example being given is of a formal written agreement between 2 clubs as to what triggers a future payment under an agreed contract. Nothing at all like 2 clubs chancing their arms with vexatious claims of unfairness. Did anyone at RamsTrust argue that point?

[QRams]

I tend to be more of a watcher than poster but have been busy posting comments to various newspaper articles including the DT and latterly the Daily Mail where DCFC articles pop up. Have tried to post a comment today on the excellent article by Martin Samuel in the DM countering the Middlesborough hypocrisy.

Here is a link to comments made by Mel Morris about Gibson's own form of cheating with the tax loss issue:

https://www.derbytelegraph.co.uk/sport/football/football-news/Derby-county-chairman-mel-morris-2910724

I also heard Morris voice this on Talksport too.

MFC received no punishment for their 'cheating' and the loophole was merely closed.

Certainly needs disseminating this point.

[Ghost of Clough]

7 minutes ago, Mihangel said:

Someone put together a nice simple timeline of the events of the last 4 years but I can't find it, can someone point me in the right direction? Ta.

I believe you're referring to this post by the best poster on the forum ?

On 18/01/2022 at 17:35, Ghost of Clough said:

Someone can use this as a starting point if they want...

Timeline of events, beginning with the introduction of financial regulation in the Championship.

1.       2012 - FFP Rules (monitored over 1 season) implemented

2.       24/05/14 - Derby lose to FFP cheats QPR in the Playoff Final

3.       November 2014 – P&S rules (monitored over 3 seasons) voted in to replace FFP rules for the 16/17 season onwards.

4.       Summer 2015 – Derby change amortisation policy for the 15/16 season (after discussing the change with the auditors)

5.       07/04/17 – 15/16 accounts are submitted to Companies House

6.       06/04/18 – 16/17 accounts are submitted to Companies House

7.       Spring 2018 –2016-18 P&S information submitted to EFL (within limits)

8.       12/04/18 – Revised 2016-18 P&S information submitted to EFL due to differences between FFP and P&S calculations (£5m over the limit)

9.       04/05/18 – DCFC placed under embargo

10.   May 2018 – Stadium valued at £81.1m (profits basis) and £74.4m (DRC basis) by JLL

11.   June 2018 – Discussions with EFL to agree on stadium sale and how much to be included in the accounts

12.   28/06/18 – Stadium sold for £81m. Revised 2016-18 P&S information submitted to EFL (within limits)

13.   03/07/18 – Embargo lifted

14.   04/07/18 – EFL confirmation that DCFC met their P&S requirements for the 3 year period to 2018.

15.   15/02/19 – EFL Executive confirmation that £81.1m was fair value for the stadium.

16.   06/03/19 – placed under embargo for late submission of P&S statements

17.   29/03/19 – 2019 P&S statements submitted to EFL (within limits) and embargo lifted. New embargo placed on club due to being close to the limit.

18.   05/04/19 – 17/18 accounts are submitted to Companies House

19.   April 2019 - MFC queried, “in forceful terms”, the legitimacy of such a sale and leaseback arrangement

20.   15/04/19 – EFL query why amortization fluctuates so much between seasons.

21.   13/05/19 – Meeting between DCFC and EFL to discuss amortization, EFL stated “it is an acceptable accounting policy” with the EFL stating large future impairments are a risk for the club to take on

22.   24/05/19 – MFC submitted a claim against Derby, stating we cheated P&S by selling the stadium for too much and it wasn’t arms length.

23.   09/07/19 – MFC claim PPS should have been sold at a fair value of £22.8m

24.   11/07/19 – Embargo lifted

25.   30/07/19 – MFC officially threatened the EFL and DCFC with proceedings unless the EFL initiated disciplinary action against DCFC

26.   06/09/19 – MFC servered notice of arbitration to get profits from stadium sales excluded from P&S calculations (including those in the past)

27.   02/12/19 – EFL hired expert valued stadium at £42-50m. Expert had not visited the stadium but deemed the facilities to be “bog standard” and drew comparisons to Morecombe’s 6476 stadium with 3 terraced stands.

28.   16/01/20 – Derby charged with selling the stadium above it’s true value and for using improper amortization policy, resulting in exceeding P&S limits in the 3 years to 2018

29.   Early 2020 – Derby placed under embargo

30.   25/08/20 – DC cleared of overvaluing the stadium, found guilty for 1 of 5 particulars relating to the amortisation policy (not worded it adequately in the accounts), but insisted the policy was compliant with FRS102. DC panel consisted of accountants

31.   07/09/20 – EFL appealed against the DC decision

32.   07/09/20 – Boro started an arbitration against Derby and the EFL, in particular regarding the stadium valuation which allowed us to sign Waghorn

33.   22/10/20 – Boro’s application rejected

34.   30/11/20 – De novo hearing held and dismissed (EFL wanting draft 18/19 accounts submitted after DC decision to be considered)

35.   15/12/20 – EFL application for new evidence to be considered (18/19 draft accounts), dismissed 22/01/21

36.   July 2021 – LAP decision resulting in a restatement of 15/16 accounts onwards with a compliant amortization policy and a £100k fine. LAP did not consist of any accountants.

37.   22/09/21 – Derby enter administration

38.   16/11/21 – Administrators agree 9-point deduction due to EFL’s claim of a P&S overspend, a result of the EFL rejecting our new amortisation policy

 

Other noteworthy events:

EFL stated as wanting the points deduction against Derby to be applied in 20/21 to cause maximum punishment (relegation) when the season had already concluded.

Embargoes: 04/05/18-03/07/18, 06/03/19-11/07/19, early 2020-present

 

[Stive Pesley]

11 minutes ago, angieram said:

The tide is turning!

DON'T MAKE ME LIKE THE DAILY MAIL! ?

[Dean (hick) Saunders]

So. Is anything going to happen today?

I feel like I need to dig a hole in the garden and bury my phone in it to stop me scrolling so I can actually get some work done.

Need some kind of help line to support me in this DCFCFans addiction. Any ideas?

[DarkFruitsRam7]

10 minutes ago, R@M said:

Not really as detailed or easily read as the one posted on here…and will ‘lose’ a lot of readers both consciously and subconsciously with her spelling of lose. Loose is such a terrible error. 

I haven’t even read it, I just assumed that was the article he was referring to.

[Ewetube]

13 minutes ago, DarkFruitsRam7 said:

 

Not factually correct.

Refers to EFL when it should be IDC also says we got £100k fine from EFL for breaching P&S rules when it was imposed by IDC for accounting methods.