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The Administration Thread


Boycie

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1 hour ago, Ghost of Clough said:

Just to add, the LAP made their decision on the technicality of DCFC not having an expert witness to argue our side of the argument. The LAP essentially said the opinion of accountants who weren't witnesses should be ignored.

Agree with every word of this and your previous post. The only point I was trying to make was it’s regarded in this echo chamber as God’s own truth that the EFl approved our accounts.   I think it’s a very questionable assertion 

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Hope the latest isn't true and we can settle things today and announce a PB by the end of the week.  If it's Ashley (which, to be honest, I still hope it is), I can see why it's dragging out but surely it doesn't make sense to take so long we lose our best assets.

Also, for the sake of the mental health of many, I hope this is resolved soon.

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10 minutes ago, kevinhectoring said:

The rules say much more than that the accounts need to be audited. The rules say they need to comply with the accounting standards. 

And you can argue they were wrong, but the LAP found that ours did not. 
 

I’m not sure I understand the difference between “comply with accounting standards” and having passed audit for years on end. Isn’t that what an audit shows - that they comply with accounting standards?

As for the second part - a kangaroo court, with no accountancy expertise, overturned accountants and auditors’ views, having ruled that they didn’t need to hear expert evidence, they would just use expert evidence that had been comprehensively found to be unsuitable earlier in the process. I don’t think this is watertight. 

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Maybe I'm reading this wrong, but a month's grace on the 1st Feb deadline for proof of funds means that the need to sell players to provide that funding is removed? The fact that loads are out of contract in the summer means that their value is badly impaired anyway. New Contracts can be offered once the embargo on that are lifted by the EFL, presumably once a t/o is completed or future funding is proven. If any players don't want to renew then, very little value is lost (we get compensation for players under 24 anyway if they sign on a Bosman for other teams).

The month's grace might take the pressure off the Administrators and the Bidders, it might diminish the intensity of the fans' campaign, it will certainly prevent Rooney from signing any player, but it might also allow the Boro/Wycombe issue to be resolved.

I'm not convinced this is a doomsday scenario, even if true.

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Just now, Crewton said:

The month's grace might take the pressure off the Administrators and the Bidders, it might diminish the intensity of the fans' campaign, it will certainly prevent Rooney from signing any player, but it might also allow the Boro/Wycombe issue to be resolved.

We've heard the resolution (to DCFCs satisfaction!) on that, our buyer will take them on later. I'd think the EFL won't like that.

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It is a complex deal but surely the administrators could have leveraged this deadline to say to potential preferred buyers 'come in now or we're going with the Binnies'. It is striking me as odd that we have an offer on the table and the administrators appear to be holding out for a better deal. Maybe it's the fact we have an offer that is allowing them to do this but then why are we engaging with sources of crowd funding from local businesses if they're confident the club has a saviour? 

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Is this how they are trying to force us to sell players, any sales need to be done by the end of the month, if we were allowed to move forward now I.e PB named, clarification of WW and MFC creditor status we wouldn't need to raise funds by selling players. The funding for March needs to come from somewhere as it looks like we can currently fund Feb, probably based on upcoming home matches.

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7 minutes ago, Crewton said:

Maybe I'm reading this wrong, but a month's grace on the 1st Feb deadline for proof of funds means that the need to sell players to provide that funding is removed? The fact that loads are out of contract in the summer means that their value is badly impaired anyway. New Contracts can be offered once the embargo on that are lifted by the EFL, presumably once a t/o is completed or future funding is proven. If any players don't want to renew then, very little value is lost (we get compensation for players under 24 anyway if they sign on a Bosman for other teams).

The month's grace might take the pressure off the Administrators and the Bidders, it might diminish the intensity of the fans' campaign, it will certainly prevent Rooney from signing any player, but it might also allow the Boro/Wycombe issue to be resolved.

I'm not convinced this is a doomsday scenario, even if true.

I think it’s not a good thing to take the pressure off  the admin team or bidders. They just need to make a decision on PB and get on with it.

If they are prevented from doing this then they need to publically  state what is holding them back Eg Mel, parasite claims, efl approval and go to court to bring it to a head or go into liquidation

Letting it drag on is no good.

Edited by StrawHillRam
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1 minute ago, RoyMac5 said:

I mean, who is this bloke that he has access to such information?! 

 

IF Mel is moving the goalposts with stadium value to suit his whims so he can get every last penny out of a potential buyer then he needs to ducking stop and give his head a wobble. This is no time for greed and he needs to stick to a simple (low) valuation and get the duck away from DCFC affairs forever.

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15 minutes ago, IslandExile said:

Quote reduced for brevity. But your statement includes a massive contradiction. It's not a total positive - as you spin it - because it will mean we lose more of the squad.

It's a positive if ultimately we have a club. That is what really matters. But not a total positive.

Didn’t say it was a total positive. But it’s not a total negative either, and we’re making assumptions we may sell players, but this isn’t a given by any stretch, could well be we’ve got breathing space on this as well with the deadline shifting.

 

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3 minutes ago, RoyMac5 said:

I mean, who is this bloke that he has access to such information?! 

 

If true (and I hope you're reading this) you really need to have a word with yourself Mel.

You've gone from being "one of our own" to the problem child that we've disowned. Have some ducking dignity man and walk away with what you're being offered. 'Real' Derby fans don't want anything to do with you anymore.

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