The Administration Thread

[PistoldPete]

12 minutes ago, RipleyRich said:

Taking on board facts and interpreting publicly available information doesn't make me a Forest fan. 

There are plenty of other realists on this forum who don't want to see the extinction of a Famous Old Football Club, but that can also see how difficult it's going to be to get the club sold.

IMO, if Quantuma get this over the.line, then they will have done an amazing job.

Don't forget, my information re HMRC is from Quantuma's own article. Add that to the information Quantuma have released,  (or not released) the EFL statements etc, I don't have a great feeling.

Let's just hope my gut feeling is wrong.

 

EFL statements are completely irrelevant and mostly misinformation. Quanutuma has released a lot of information, I sugest you listen to their interviews with Radio Derby, Talk Sport etc if you need updates.. if you can get Radio Derby your end of Nottingham.   

[RipleyRich]

5 minutes ago, PistoldPete said:

EFL statements are completely irrelevant and mostly misinformation. Quanutuma has released a lot of information, I sugest you listen to their interviews with Radio Derby, Talk Sport etc if you need updates.. if you can get Radio Derby your end of Nottingham.   

Yep Quantuma have released lots of information, including an article about the change in HMRC rules and titled something along the lines of "Are Football Clubs Worth Saving Anymore"

That's enough to set alarm bells ringing for me.

Oh and if it's of interest:

I attended my first match at the Baseball Ground in 1974.

I looked after the Gas Infrastructure at the Baseball Ground for several years and became good friends with the old groundsman, John Dodsley.

I managed the Gas installation at Pride Park.

As a junior football coach, I  spent 2 years working with the Academy when it was based at Repton School and ran joint coaching sessions with Eric McManus and other Academy Coaches.

I have no desire to see the demise of Derby County.

 

[Woodley Ram]

1 hour ago, Gee SCREAMER !! said:

Sorry to disappoint you all but OTIB have now reached 100 pages on their Relegate Derby forum topic before we got to 1000.  Apparently, '

There's a rumour that Derby County will be banned from the EFL but an "Independent Football Club from Derby" will be allowed to play all fixtures, with the same playing squad, staff and ground but a slightly different badge.

I think there going a bit delirious on their and will soon be drinking their own piss.

To be fair (and a lot of tosh is said on that website) it was an isolated comment. It does show that we lost the information war. Other supporters have a view of Derby which is jaundiced and incorrect. What this has done is given the poor conduct of other clubs a free pass or lighter judgement. 

let’s face it, many clubs have bigger debt, others such as Reading spend more on players wages circa 240% of income than us. We do not have a squad full of players with big contracts. We didn’t go into administration because of debt, it was because the owner didn’t want to continue to fund us. 
A lot of others have bigger debt than us, they just have owners willing to own it as soft debt.

so for other clubs supporters that read this. We accept that we broke FFP (although Reading got less points for a bigger breach), we accept we are in administration so another 12 points.  The amortisation process is legal it just isn’t allowed in football and Mel should have been more transparent. 

[StarterForTen]

5 minutes ago, RipleyRich said:

Yep Quantuma have released lots of information, including an article about the change in HMRC rules and titled something along the lines of "Are Football Clubs Worth Saving Anymore"

That's enough to set alarm bells ringing for me.

Oh and if it's of interest:

I attended my first match at the Baseball Ground in 1974.

I looked after the Gas Infrastructure at the Baseball Ground for several years and became good friends with the old groundsman, John Dodsley.

I managed the Gas installation at Pride Park.

As a junior football coach, I  spent 2 years working with the Academy when it was based at Repton School and ran joint coaching sessions with Eric McManus and other Academy Coaches.

I have no desire to see the demise of Derby County.

 

Just a hunch, but I have a strong sense that your record collection consists of just the one disc? You do seem rather attached to it though. 

Edited March 9, 2022 by StarterForTen

[Gritstone Ram]

So we’re no further forward and still no information released after the meeting.

[Rammy03]

 

[RipleyRich]

9 minutes ago, StarterForTen said:

Just a hunch, but I have a strong sense that your record collection consists of just the one disc? You do seem rather attached to it though. 

Just sharing some information that didn't appear to have been discussed previously.

Every other angle, theory, conspiracy and agenda has been done to death.

The reality is, none of us have a clue what's going off. Or not going off as the case may be.

And having just read the meeting minutes.......

Edited March 9, 2022 by RipleyRich

[BuckoBeast]

3 minutes ago, Rammy03 said:

 

The silence is ultimately a good thing ?

[curb]

17 minutes ago, RipleyRich said:

Yep Quantuma have released lots of information, including an article about the change in HMRC rules and titled something along the lines of "Are Football Clubs Worth Saving Anymore"

That's enough to set alarm bells ringing for me.

Oh and if it's of interest:

I attended my first match at the Baseball Ground in 1974.

I looked after the Gas Infrastructure at the Baseball Ground for several years and became good friends with the old groundsman, John Dodsley.

I managed the Gas installation at Pride Park.

As a junior football coach, I  spent 2 years working with the Academy when it was based at Repton School and ran joint coaching sessions with Eric McManus and other Academy Coaches.

I have no desire to see the demise of Derby County.

 

‘74?
Youre just a whippersnapper ?

[hintonsboots]

Negotiations are continuing in order to ensure a suitable bid can be accepted that satisfies the necessary criteria to fulfill the EFL’s requirements and insolvency law.

I read this as bids have been lodged and Quantuma are attempting to negotiate them up to the minimum level to satisfy Rick et al and UK insolvency Law ? 

Edited March 9, 2022 by hintonsboots

[CornwallRam]

3 hours ago, one_chop said:

What's the betting that somewhere along the line one of the bidders is using funds linked to Russia? Hence the clarification of "certain details".

Sam Rushki and Andy Appleov?

[RipleyRich]

18 minutes ago, curb said:

‘74?
Youre just a whippersnapper ?

I wish ? I was 48 at the time ?

[RipleyRich]

19 minutes ago, hintonsboots said:

Negotiations are continuing in order to ensure a suitable bid can be accepted that satisfies the necessary criteria to fulfill the EFL’s requirements and insolvency law.

I read this as bids have been lodged and Quantuma are attempting to negotiate them up to the minimum level to satisfy Rick et al and UK insolvency Law ? 

Yep, that's what I see too.

[RandomAccessMemory]

I’ve been wondering whether the League we end up in next season determines which is the best bid.

As an example, if there are two bidders.

A’s offer is £30m regardless of the league.

B’s offer is £20m if we get relegated and £40m if we don’t.

If that were the case Quantuma couldn’t accept A’s bid whilst knowing we could still stay up and if we do then B’s offer is the better one.

If they make A the preferred bidder and we stay up then the creditors miss out on £10m, if they make B the preferred bidder and we go down then, again, that would be £10m the creditors don’t get.

Unless they could persuade A to up their offer if we stay up to match B’s, or B to up their offer if we go down to match A’s then they’d not be able to choose which is best until they know which is best.

It’s probably too simplistic an example, and much more complicated in reality, but could potentially explain what seems like a constant wait to announce the preferred bidder.

[RipleyRich]

5 minutes ago, RandomAccessMemory said:

I’ve been wondering whether the League we end up in next season determines which is the best bid.

As an example, if there are two bidders.

A’s offer is £30m regardless of the league.

B’s offer is £20m if we get relegated and £40m if we don’t.

If that were the case Quantuma couldn’t accept A’s bid whilst knowing we could still stay up and if we do then B’s offer is the better one.

If they make A the preferred bidder and we stay up then the creditors miss out on £10m, if they make B the preferred bidder and we go down then, again, that would be £10m the creditors don’t get.

Unless they could persuade A to up their offer if we stay up to match B’s, or B to up their offer if we go down to match A’s then they’d not be able to choose which is best until they know which is best.

It’s probably too simplistic an example, and much more complicated in reality, but could potentially explain what seems like a constant wait to announce the preferred bidder.

At the risk of being shot down again, I think its simpler than that.

The debt is the same regardless of division. The amount required to satisfy EFL and Legal obligations is the same regardless of division.

All that realistically changes is the bidders projected payback.

As the Quantuma statement says, they are still evaluating bids and continuing negotiations to ensure a bid complies with EFL and Legal requirements. That says to me that at present they dont have, or haven't established whether they have a bid that does that.

[DCFC1388]

This question may have been answered already but il ask it any...

Do football creditors, who have to get 100%, have to get all their money paid as part of exiting admin? Or can it be that the installments carry on being paid such as Bielik?

[RandomAccessMemory]

Just now, RipleyRich said:

At the risk of being shot down again, I think its simpler than that.

The debt is the same regardless of division. The amount required to satisfy EFL and Legal obligations is the same regardless of division.

All that realistically changes is the bidders projected payback.

As the Quantuma statement says, they are still evaluating bids and continuing negotiations to ensure a bid complies with EFL and Legal requirements. That says to me that at present they dont have, or haven't established whether they have a bid that does that.

No the debt doesn’t change, but the bidders may consider our worth as a club does dependent upon the League.

[RadioactiveWaste]

5 minutes ago, DCFC1388 said:

This question may have been answered already but il ask it any...

Do football creditors, who have to get 100%, have to get all their money paid as part of exiting admin? Or can it be that the installments carry on being paid such as Bielik?

Depends on the exit from administration plan / CVA agreed with creditors. I would assume "football creditors" are happy able to take installments as long as anything outstanding is clear, although I could be entirly wrong on that as I'm no expert.

[RandomAccessMemory]

6 minutes ago, DCFC1388 said:

This question may have been answered already but il ask it any...

Do football creditors, who have to get 100%, have to get all their money paid as part of exiting admin? Or can it be that the installments carry on being paid such as Bielik?

I’d like to know this too, I imagine it would be the latter, but not sure.

[Rev]

7 minutes ago, DCFC1388 said:

This question may have been answered already but il ask it any...

Do football creditors, who have to get 100%, have to get all their money paid as part of exiting admin? Or can it be that the installments carry on being paid such as Bielik?

I assume we carry on meeting such payments as and when they fall due, rather bringing them forward.