The Administration Thread

[alram]

Just now, Eddie said:

I don't understand the anger at the administrators. They can't force anyone to buy the club. It seems to me that we are not a viable, going concern, and that seems to be the case as far as the 'bids' are concerned. If we were a sheepdog, we are half-blind, incontinent and the farmer would be considering taking us behind the barn to give us both barrels.

That's where I think we are now.

you are right they can't force people to buy the club.

 

what they can do is make the club easier and a better prospect to buy. they sat around twiddling their thumbs about the boro case until mel and gibson themselves sorted it. i know we all dont want players to be sold but they needed to be, i argued this at the time the responbility of admins is to raise funds. now half of those players we could have paid for the rest of this season are going on a free transfer for nothing and that is them writing off millions of pounds at the off chance that we stay in the division

[BondJovi]

10 minutes ago, davenportram said:

The 15 point deduction would be next season so I hope they don’t think we’ll be relegated and then have to overturn 15 pts in league 1 with no squad because the business plan we’d have to follow (approval from EFL for signings ) would mean we couldn’t afford to renew contracts

Guess we will just follow the path Bolton did.

[CornwallRam]

8 minutes ago, Tyler Durden said:

They've accepted it as they've all decided that they won't pay the amount of money required for the club to avoid another points deduction. 

Is accepted the correct word to use in that case? 

I think they've probably decided that the club isn't worth, say £60m, but is probably a worthwhile gamble at (e.g.) £25m. As any figure below £60m (guesstimate) attracts -15 points, they might as well see if they can drive down the £25m to as low a figure as possible. 

I daresay that all the 'bidders' would prefer to get the club for £25m with no points deduction, but that's not an option (in my scenario) so they have tacitly accepted the -15.

[Seth's left foot]

Team Derby are releasing a statement tomorrow then, after a meeting with Quantama. 
it’s going to be a very interesting day… 

[S8TY]

6 minutes ago, IslandExile said:

So you don't have an issue with the Admins for them not having updated the EFL by the deadline they'd agreed 4 weeks ago?

No the time to worry is when there is something to worry about...duck the EFL....they've done us Zero favours thus far and I don't trust them as far as i could throw em....there statements have not been totally accurate to date and have killed this club by not allowing COVID payments when all other clubs did receive and now changing the rules mid season to suit certain people  and not allowing Rooney to sign free agents when we get a PB ....Rooney's demeanour over the last couple of weeks is there for all to see and I feel for him and the team and staff as they seem to have gone above themselves to give us a fighting chance...at no time have i seen much help from the EFL ...they are a shambolic disgrace of an organisation....not fit for purpose....so Duck the EFL....admins will have a PB and we will survive 

[atherstoneram]

3 minutes ago, alram said:

no doubt. mel got us into this mess, he should be held accountable and be taking to court by the tax man.

 

but it's now the admins job to get us OUT of the mess which they seem incapable of doing

I don't think they are incapable of doing it, it's their job to get us out of this if it is financially possible. If it isn't there is nothing they can do despite all their efforts.

[Tyler Durden]

3 minutes ago, CornwallRam said:

I think they've probably decided that the club isn't worth, say £60m, but is probably a worthwhile gamble at (e.g.) £25m. As any figure below £60m (guesstimate) attracts -15 points, they might as well see if they can drive down the £25m to as low a figure as possible. 

I daresay that all the 'bidders' would prefer to get the club for £25m with no points deduction, but that's not an option (in my scenario) so they have tacitly accepted the -15.

Yes was going to say that the bidders have all resigned the club to another points deduction as they just don't think we're worth that much.

And because of this then they're not prepared to offer anything above the minimum they think they can get away with paying knowing that there's probably a half decent chance we'd fall into League 2 the season after next. 

So effectively the bidders are condemning us to a fate that's yet to be realised. 

[Tombo]

14 minutes ago, Eddie said:

If we were a sheepdog, we are half-blind, incontinent and the farmer would be considering taking us behind the barn to give us both barrels.

And you're only saying that because you're so fond of us

[Comrade 86]

8 minutes ago, davenportram said:

The 15 point deduction would be next season so I hope they don’t think we’ll be relegated and then have to overturn 15 pts in league 1 with no squad because the business plan we’d have to follow (approval from EFL for signings ) would mean we couldn’t afford to renew contracts

I understand that buddy and that's what's concerning me. I'm now at a point where I'm less concerned about possible sanctions in L1 than I am that these bidders we saw as shining lights might be horse-traders gambling with the future of the club merely to shave a few million off the asking price. Out of the fire...

In all honesty, I've not even considered as yet the impact of any additional points deductions, nor any other potential constraints we may need to negotiate if or when we are in fact relegated. If my fears are confirmed then that's a pretty stark indicator of the level of their likely commitment to the club and in that case, it won't be the EFL forcing players out the door, they'll all be walking of their own volition.

As I said earlier, I really hope I'm wrong and tomorrow brings better news ?‍♀️

[AutoWindscreens]

2 hours ago, Tyler Durden said:

Playing devils advocate what is the administrators advantage to be levered by leaving it right down to the last minute.

I think it's what MackworthRamisGod said above, the administrators fees are part of the negotiations, and the discount they are prepared to accept. If their billed amount was £4m before Christmas (did I read that somewhere?) it would be double that now. Enough, on the face of it, to put off nearly all buyers. They would know that it would be a question of negotiation, how much of those fees a buyer is prepared to fund.

[Rammy03]

10 minutes ago, Tyler Durden said:

Yes was going to say that the bidders have all resigned the club to another points deduction as they just don't think we're worth that much.

And because of this then they're not prepared to offer anything above the minimum they think they can get away with paying knowing that there's probably a half decent chance we'd fall into League 2 the season after next. 

So effectively the bidders are condemning us to a fate that's yet to be realised. 

You don't know that. None of us know

[CBRammette]

2 minutes ago, Tyler Durden said:

Yes was going to say that the bidders have all resigned the club to another points deduction as they just don't think we're worth that much.

And because of this then they're not prepared to offer anything above the minimum they think they can get away with paying knowing that there's probably a half decent chance we'd fall into League 2 the season after next. 

So effectively the bidders are condemning us to a fate that's yet to be realised. 

There's not a huge amount left to buy though is there especially if stadium on top. I think now staying up is looking that bit harder presumably they all think pay less for old debt they get no benefit from, take -15 but have more to invest going forward. But likely they will lose more players. Mel together with actions of EFL and ambulance chaser clubs meaning players draining away has left the creditors high and dry. Nothing we can do but let the boys play with their toys snd we will be left with the bare bones of a club at the end. Heartbreaking to think this batch of youngsters may be broken up and will drift off but hopefully we still have a club

[atherstoneram]

14 minutes ago, alram said:

you are right they can't force people to buy the club.

 

what they can do is make the club easier and a better prospect to buy. they sat around twiddling their thumbs about the boro case until mel and gibson themselves sorted it. i know we all dont want players to be sold but they needed to be, i argued this at the time the responbility of admins is to raise funds. now half of those players we could have paid for the rest of this season are going on a free transfer for nothing and that is them writing off millions of pounds at the off chance that we stay in the division

They can't win, people were saying if we sold the young talent in the transfer window it makes the club a less viable proposition.At that time they probably had a good idea that they would be able to name a bidder but things haven't turned out that way,matters are still fluid and can still change from day to day.

I would love to know how they could make the club an easier and better prospect to buy.

 

[scout's dad]

16 minutes ago, Seth's left foot said:

Team Derby are releasing a statement tomorrow then, after a meeting with Quantama. 
it’s going to be a very interesting day… 

 

''You say Quantama, I say Quantuma, hope they don't call the whole thing off''

 

 

[Tyler Durden]

4 minutes ago, CBRammette said:

There's not a huge amount left to buy though is there especially if stadium on top. I think now staying up is looking that bit harder presumably they all think pay less for old debt they get no benefit from, take -15 but have more to invest going forward. But likely they will lose more players. Mel together with actions of EFL and ambulance chaser clubs meaning players draining away has left the creditors high and dry. Nothing we can do but let the boys play with their toys snd we will be left with the bare bones of a club at the end. Heartbreaking to think this batch of youngsters may be broken up and will drift off but hopefully we still have a club

Will they invest more though going forward though ? 

Seems like we've attracted a bunch of tyre kickers who are trying to get something for nothing which doesn't bode well for the future. 

[Comrade 86]

41 minutes ago, Eddie said:

I don't understand the anger at the administrators. They can't force anyone to buy the club. It seems to me that we are not a viable, going concern, and that seems to be the case as far as the 'bids' are concerned. If we were a sheepdog, we are half-blind, incontinent and the farmer would be considering taking us behind the barn to give us both barrels.

That's where I think we are now.

I think you are misreading the sentiment of those having a pop. For my part, I'd just like them to provide a brief update when critical timelines elapse, especially when the timelines in question are those they've set themselves and even if it's not what we fans want to hear. I'm not so self-entitled that I think they need provide daily reports, or anything vaguely akin to that, but I do think in recent weeks they've become increasingly disrespectful of the fan base and far more importantly, Rooney, his coaching team and all of the playing staff. 

I'd also take issue with the sheepdog analogy. I hope you are referring to our financial status because from a footballing perspective, the players and coaches are performing wonders. We'd sit comfortably mid-table despite operating a skeleton staff were it not for the deductions, so far from being a old dog on its last legs, I'd say in some regards we're in rude health and fighting like tigers. Perhaps I'm being naïve, but we're poles apart on that assessment right now, though I fully accept that folk might share your view.

Edited February 28, 2022 by 86 Hair Islands
typos

[atherstoneram]

17 minutes ago, AutoWindscreens said:

I think it's what MackworthRamisGod said above, the administrators fees are part of the negotiations, and the discount they are prepared to accept. If their billed amount was £4m before Christmas (did I read that somewhere?) it would be double that now. Enough, on the face of it, to put off nearly all buyers. They would know that it would be a question of negotiation, how much of those fees a buyer is prepared to fund.

If nobody is prepared to pay the administrators in full to get the club out of administration then surely the administrators can liquidate the club. They are not doing all this work out of the goodness of their heart.

[Ghost of Clough]

3 hours ago, Ambitious said:

Because we've been in administration longer than any club I can remember, missing deadline-after-deadline, with a preferred buyer no closer to being announced. Now, we've got the EFL publicly airing out the administrators after not being updated despite there being a hard deadline set for such an update.

This feels eerily similar to when we didn't post the accounts for two years and 'surprisingly' went into administration. I genuinely think the administrators are out of options and now just trying to buy time. 

5 months so far.

Wigan were in administration for 9 months(1 July 2020 - 30 March 2021)

Portsmouth were in administration for 14 months (17 Feb 2012 - 19 April 2013)

[CBRammette]

17 minutes ago, Tyler Durden said:

Will they invest more though going forward though ? 

Seems like we've attracted a bunch of tyre kickers who are trying to get something for nothing which doesn't bode well for the future. 

Yep you're probably right! Its us!

[PistoldPete]

Its just a bit rich EFL throwing their toys out of the pram by issuing a hissy fit statement at 4.17 pm .. when the deadline is not til tomorrow. The same EFL who have issued statments at 10pm whne they thought it suited them, but actually just made them look ridiculous.