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The Administration Thread


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1 hour ago, RAM1966 said:

It doesn't matter that much really how they present it, all offers will have 3 headline figures thst really matter.

Offer for Stadium (Most important).

Offer for HMRC (Maybe the hold up is checking with HMRC if they are content?).

Offer for unsecured creditors (-15pts in not 25p in £, not that Admin will give a toss).

Yes of course there may be little clauses etc that differ, but these are the 3 main numbers to consider....

And, 4:

How much are the admins fees.

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11 minutes ago, RedSox said:

If true, this is an outrageous position to take when our very future hangs by a thread.  Surely, Nixon can't know the level of detail that has been disucssed and agreed.  And if he does, why would Q have possibly said the stadium element was 'not an issue'??

Nixon gets his info from EFL, or when Kirchner was in the frame from him. Both sources are as reliable as duck for accuracy, added to which Nixon adds more garbling of his own.

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The big gripe with most fans is being kept in the dark. And sorry , if you have paid up front for a years worth of a product , you are not wrong to ask for a bit of info. Now everyone is guessing . My guess is- HMRC are playing hard-ball after the recent change in the law and could even want to make an example of us to deter the rest.

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1 hour ago, FlyBritishMidland said:

Have I missed something or is the deadline today?  The previous deadline was 1st Feb, a four week extension was agreed which brings us to today.  I think the statement from the EFL yesterday was unnecessary.  All it’s done is create anxiety, stress and a meltdown on Twitter.

I’ve defended Quantuma before and they have got a tough job on.  They’re basically trying to get someone to buy a debt for the best price they can get.   The PB then needs to do a deal with Mel to either buy or lease the ground at more expense.  This is down to Mel and the mess he created.

That said, they can be better at managing expectations.  In the days of social media every word, every promise, every deadline is pored over in minute detail.  On 11th Feb, instead of saying 7-10 days and “very, very soon”.  They’d have been better to give an outline of the process.  For example, they’re writing to bidder to put in final offers, that period will be 7 days, they then need to look at the bids in detail and see what they mean for the club and it’s creditors.  It may be hindsight but Quantuma knew that’s what they would need to do and giving a high level overview might have helped give some understanding.

Anyway, let’s hope by the end of the day we have clarity on what’s happening, a PB (hopefully), proof of funds and three points at Cardiff!!

A point well made, always, always better to underpromise and over deliver. You would have thought Quantuma would have learnt by now. Every missed deadline just makes them look inept. 

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17 minutes ago, RedSox said:

If true, this is an outrageous position to take when our very future hangs by a thread.  Surely, Nixon can't know the level of detail that has been disucssed and agreed.  And if he does, why would Q have possibly said the stadium element was 'not an issue'??

He may know details but cant imagine from his inconsistent badly written tweets that he understands it all!! 

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14 minutes ago, Ramos said:

I think we have learned that he doesn’t know as much as he lets on. The fact he said Ashley was out of the running for Ashley himself to come out only a day later to say it was a load of rubbish. 

When you call him out he blocks you. That tells you all you need to know about Nixon. 

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5 minutes ago, jimtastic56 said:

The big gripe with most fans is being kept in the dark. And sorry , if you have paid up front for a years worth of a product , you are not wrong to ask for a bit of info. Now everyone is guessing . 

It goes without saying that this whole sorry mess is far from ideal, but I'm not sure we have any right to info, other than asking "Is the next game still going ahead?", and let's face it, until a game gets postponed, the answer is always going to be "Yes".  Ultimately, that's all we've paid for.

Yes, some info would be nice (or not!) but I'm loathe to claim we have any right to be kept informed.

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5 minutes ago, Mucker1884 said:

It goes without saying that this whole sorry mess is far from ideal, but I'm not sure we have any right to info, other than asking "Is the next game still going ahead?", and let's face it, until a game gets postponed, the answer is always going to be "Yes".  Ultimately, that's all we've paid for.

Yes, some info would be nice (or not!) but I'm loathe to claim we have any right to be kept informed.

We may not be stakeholders in the sense that we are financial creditors of the club but, as supporters, we are the lifeblood of the club. Without the fans, there is no Derby County. From that point of view, we are very much stakeholders. We are the community for whom the club exists. We cannot and should not be ignored.

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42 minutes ago, PistoldPete said:

I think vindictive is going too far. How it seems to me is that the EFL is desperate to justify itself. However, Quantuma are best placed to decide whether we can recover and how best to do that, and in fact they are appointed by a Court to do that job. They have had to conduct confidential and commercially sensitive discussions with various parties. When they have something to say, they will say it.  

EFL imposing "deadlines" and even worse issuing statements before these "deadlines" have expired might seem to EFL that they are doing something useful, but actually all they do is cause confusion, and unsettle the DCFC stakeholders including many on this forum.

  

The only thing the EFL care about right now is protecting their own cushy existence. They know full well that if we go under, they are going to come under massive scrutiny, so their main objective is paint the administrators in as bad a light as possible to deflect blame.  I think the admins have probably cottoned onto this, because they are point blank refusing to engage in the media-war that the EFL seem to want.

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10 minutes ago, IslandExile said:

We may not be stakeholders in the sense that we are financial creditors of the club but, as supporters, we are the lifeblood of the club. Without the fans, there is no Derby County. From that point of view, we are very much stakeholders. We are the community for whom the club exists. We cannot and should not be ignored.

This. I would far rather the administrators came out and said that the finances are extremely difficult to sort and it is going to take a considerable amount of time to sort out instead of using words like imminent. At the very least we deserve honesty and a weekly update would be good, even if it reported that no progress has been made.

Edited by Sinistra ram rousse
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In this social media age even oldies like me are used to non -stop flow of news and comment on everything under the sun (and moon), there is no escape. Most organisations have spin doctors at the ready 24/7. We soak it up vicariously and become armchair experts in everything.

Administrators normally have no "public face"; without making it seem sinister, they work in the shadows. PR is not part of their skill set 'nor a requirement of getting the task done. So I'm not the least surprised they are not particularly communicative to uninvolved (in a business sense) people like us.

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17 minutes ago, Mucker1884 said:

It goes without saying that this whole sorry mess is far from ideal, but I'm not sure we have any right to info, other than asking "Is the next game still going ahead?", and let's face it, until a game gets postponed, the answer is always going to be "Yes".  Ultimately, that's all we've paid for.

Yes, some info would be nice (or not!) but I'm loathe to claim we have any right to be kept informed.

That’s fair enough . I am not allowed to ask for info. Therefore I will keep my £2,000 per year in my pocket.

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34 minutes ago, jimtastic56 said:

The big gripe with most fans is being kept in the dark. And sorry , if you have paid up front for a years worth of a product , you are not wrong to ask for a bit of info. Now everyone is guessing . My guess is- HMRC are playing hard-ball after the recent change in the law and could even want to make an example of us to deter the rest.

I'm guessing you're wrong?

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1 hour ago, RAM1966 said:

It doesn't matter that much really how they present it, all offers will have 3 headline figures thst really matter.

Offer for Stadium (Most important).

Offer for HMRC (Maybe the hold up is checking with HMRC if they are content?).

Offer for unsecured creditors (-15pts in not 25p in £, not that Admin will give a toss).

Yes of course there may be little clauses etc that differ, but these are the 3 main numbers to consider....

What I was saying is :   bidders can formulate offers as they want. And if say Ashley’s is the highest offer and if it contemplates that MM pays off all or part of the MSD debt then he comes under massive pressure to do that. I’d guess Team Derby will be on MM’s back to unlock this after their meeting today 

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2 minutes ago, kevinhectoring said:

What I was saying is :   bidders can formulate offers as they want. And if say Ashley’s is the highest offer and if it contemplates that MM pays off all or part of the MSD debt then he comes under massive pressure to do that. I’d guess Team Derby will be on MM’s back to unlock this after their meeting today 

?

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22 minutes ago, MACKWORTHRAM said:

What is worrying me is that Team Derby are meeting with Quantuma today.

Why would Quantuma agree to a meeting today if they were going to be announcing a preferred bidder?

Surely they would just decline the meeting and say a statement will be out later on in the day which will explain everything.

Probably because they will try to secure last minute funding from DCC to keep us ticking over.

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