The Administration Thread

[GenBr]

14 minutes ago, alram said:

So them bidding 30m and not coming close all but confirms that there is no deal to be done with hmrc

 

i am sorry but we are doomed. nobody is going to pay 50m for a club with no assets 

Why does it? We already know Mel wants £20 mill for the stadium.

If the administrators want £50 mill for the club and the stadium that leaves £30 mill to pay the rest of the debts. HMRC on its own is approx £30 mill, so either no other creditors get a single penny or you are being a tad over dramatic.

[Grumpy Git]

7 minutes ago, BucksRam said:

Am I sad in being pleased to have popped on here for a nose only see see I was looking at page 1000.  Small things.  I'd have been a bit disappointed if it was page 1001 and I'd have missed it by a couple of posts.

Almost A Space Odyssey innit

Edited March 10, 2022 by Grumpy Git

[Ram-Alf]

5 minutes ago, BucksRam said:

Am I sad in being pleased to have popped on here for a nose only see see I was looking at page 1000.  Small things.  I'd have been a bit disappointed if it was page 1001 and I'd have missed it by a couple of posts.

Hey you've got something to cheer about, BucksRam cleens a big big carpet for less than half a crown

[hintonsboots]

I would like to flag up that Quantuma have said 4-5 days re a preferred bidder. A new one to add to the list ?.

[cosmic]

Just want to post to say I was here when we hit 1000 (okay 1001).

[Gee SCREAMER !!]

19 minutes ago, RipleyRich said:

Not necessarily. 

£30m including the Stadium wont touch the minimum requirements to exit administration and satisfy Legal and EFL requirements. Therefore Quantuma cant accept it.

If the Binnies won't go higher they are out.

Quantuma have said negotiations are ongoing and it can only be hoped that the remaining parties will go higher. It speculates in the article that nearer £50m is required. My guess was £55m based upon reading the Creditor list and the supposed loans etc.

As I understood it from the initial Radio report the offer was 28 million not including the stadium.  Perhaps he wants to sell rather than lease.  Would be odd if their covering MSD  payments though.

[davenportram]

1 hour ago, RipleyRich said:

Or that the Binnies have stated that's their full and final offer.

Still wouldn’t end negotiations without a better offer

[nottingram]

40 minutes ago, duncanjwitham said:

"It was felt the sum accurately reflected the reduced status of Derby following the sale of players during the January transfer window..."

That line should maybe make a few people think, especially those who were criticising the admins for not selling more players and slashing costs.  

I think that is a bit of a cheap and easy line though - I don’t think the players sold materially affect the vale of the club? And Shinnie and Jagielka the only ones who left who affected the first team’s chances of survival if that’s what they mean, arguably only Jagielka even given Shinnie would’ve been a bit part player.

Dont mean this to say we should’ve sold more, just an easy line to use when your offer wasn’t enough. 

[NottmRAM]

35 minutes ago, alram said:

So them bidding 30m and not coming close all but confirms that there is no deal to be done with hmrc

 

i am sorry but we are doomed. nobody is going to pay 50m for a club with no assets 

I can see that it is no coincidence that your name is an acronym for ALARM!

[Curtains]

30 Million would mean 15 point penalty so not enough.  
 

That’s why Administrators want 50 Million 

I think the Stadium will be leased from Mel who will pay MSD 

PS That’s my theory 

Edited March 10, 2022 by Curtains
Added

[Premier ram]

3 hours ago, Cam the Ram said:

Years of embargos and EFL charges, then put into admin and when we think finally we can start a fresh next season (albeit under an EFL business model) we now are told we're in for another season of poo. Cheers Mel 

[hintonsboots]

1 minute ago, NottmRAM said:

I can see that it is no coincidence that your name is an acronym for ALARM!

He’s one of the 68 guns.

[May Contain Nuts]

Got to laugh at the Binnies really.

They think they've put in offer that matches how the squad/club has been devalued, and they're not willing to put in enough to avoid a 15 point penalty next season.

A points penalty next season would massively devalue what they've bought, and risk a severe chance of us ending up in League Two in two years, which would devalue what they've bought further still.

Is the lowball offer really worth the risk? Surely better to at least attempt to avoid the -15 next season and actually have a League One club in two years rather than a League Two club.

Edited March 10, 2022 by Coconut's Beard

[strawhillram]

33 minutes ago, Coconut's Beard said:

Because they couldn't Bin Off the Binnies  while there was still any chance of them increasing their offer and discussions to be had.

Quantuma have an obligation to the creditors to keep the offer open as long as possible.

By The Binnies setting the deadline for an answer, the creditors can be satisfied that there was no possibility of their bid being increased.

Quantuma’’s work load  just reduced as there is one less bid to deal with. 

Let’s hope the other one or two don’t pull out too.  Or reduce their offers

[StarterForTen]

The Binnies were carpet baggers looking to buy DCFC on the low ball, put it back on its feet and flip it for a few million profit within two years. They were bidders of last resort and the fact they are no longer at the table should bring more comfort than anguish.

[IslandExile]

Everyone is celebrating the thread reaching 1000 pages.

Meanwhile Rome burns, the Titanic sinks and we lose another prospective bidder.

If there were only two bids submitted by the Administrators' own deadline, does that mean the other one is the Preferred Bidder - by default?

If so, why haven't they been named? Or are they now - standing alone - realising it's a buyers' market and, consequently, reducing the value of their bid? Or maybe there just isn't any other bidder.

Edited March 10, 2022 by IslandExile

[Alty_Ram]

17 minutes ago, RadioactiveWaste said:

We did it!

1000 pages.

So when does the portal to another dimension open?

Does anyone remember the series 'Lost' when the people on the island decided to stop pressing the mysterious button ? I look at my F5 now with similar panic.... 

[Rammeister]

7 minutes ago, NottmRAM said:

I can see that it is no coincidence that your name is an acronym for ALARM!

 Ner-ner, ner-ner! Language pedant police here- surely that’s an anagram rather than an acronym?

[Curtains]

2 minutes ago, IslandExile said:

Everyone is celebrating the thread reaching 1000 pages.

Meanwhile Rome burns, the Titanic sinks and we lose another prospective bidder.

If there were only two bids submitted by the Administrators' own deadline, does that mean the other one is the Preferred Bidder - by default?

If so, why haven't they been named? Or are they now - standing alone - realising it's a buyers' market and, consequently, reducing the value of their bid? Or maybe there just isn't any other bidder.

If that was the case the Binnies would have been accepted. Surely you can reason that. 
Liquidation would be far worse . 

[duncanjwitham]

13 minutes ago, nottingram said:

I think that is a bit of a cheap and easy line though - I don’t think the players sold materially affect the vale of the club? And Shinnie and Jagielka the only ones who left who affected the first team’s chances of survival if that’s what they mean, arguably only Jagielka even given Shinnie would’ve been a bit part player.

Dont mean this to say we should’ve sold more, just an easy line to use when your offer wasn’t enough. 

I'd say it's more the likes of Plange, Williams and Kellyman. They went for £2m tops, but could have gone for far more if we weren't under pressure to sell.