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The Administration Thread


Boycie

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28 minutes ago, IslandExile said:

It's in no-one's interest but it might not be within anyone's control.

I hope to god it doesn't happen. I would happily take a 15 point penalty or start in League 2 so long as we have a club.

Anyhow, @Curtains, I suggest you read this:

https://www.derbytelegraph.co.uk/sport/football/football-news/derby-county-takeover-rooney-rams-6783557

 

According to the BBC, Binnies submitted their latest offer on Monday..  giving  a 72 hour window to respond but Quantuma rejected the offer on Tuesday.  So as I read it the Binnes offer was too low (I would have thought fairly obviously too low) and it was rejected fairly pronto.

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4 hours ago, atherstoneram said:

Ah but it's different rules when it's a Premier League club. What would the 4x4 tractor drivers in Chelsea and Westminster do if the can't go to see their beloved Chelsea play.

Perhaps watch the other club in Hammersmith & Fulham

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Not read the replies but going to give my opinion on how I see things going..

I have seen alot of hate for the admin, much of which I disagree with, frustrating yes but if you remember my post back in May of last year I said this was a huge mess to sort out and would end up like this. Anyways all in the past....

Clearly admin need a set amount to sort this out. No one at the minute is offering that. Its pretty obvious said buyers dont want to pay that and you can see why - its dead money sorting out someone else's mess along with the loss of 6m quid if we go down in lost revenue, not exactly a pretty acquisition is it. We can all argue the potential is there but we haven't been promoted in 15 odd years and having an amazing fan base will only get you so far.

So I guess the bidders are going to need to pay what is needed if they want the club. I also suspect that they will be negotiating a lower rate on the purchase / rent of the stadium. This has been complicated imho because its separate to the football club, what a great decision that was. This to me is why there is a delay. If they had agreed to the admin demands a PB would have been announced.

I suspect if we dont get anywhere then of course, Mr Morris is going to have to do something with the stadium, lower his price thus offsetting the money going to the creditors. Whether he will or not is anyone's guess. Who wants to keep the poker face the longest I guess.

 

 

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7 minutes ago, therams69 said:

Not read the replies but going to give my opinion on how I see things going..

I have seen alot of hate for the admin, much of which I disagree with, frustrating yes but if you remember my post back in May of last year I said this was a huge mess to sort out and would end up like this. Anyways all in the past....

Clearly admin need a set amount to sort this out. No one at the minute is offering that. Its pretty obvious said buyers dont want to pay that and you can see why - its dead money sorting out someone else's mess along with the loss of 6m quid if we go down in lost revenue, not exactly a pretty acquisition is it. We can all argue the potential is there but we haven't been promoted in 15 odd years and having an amazing fan base will only get you so far.

So I guess the bidders are going to need to pay what is needed if they want the club. I also suspect that they will be negotiating a lower rate on the purchase / rent of the stadium. This has been complicated imho because its separate to the football club, what a great decision that was. This to me is why there is a delay. If they had agreed to the admin demands a PB would have been announced.

I suspect if we dont get anywhere then of course, Mr Morris is going to have to do something with the stadium, lower his price thus offsetting the money going to the creditors. Whether he will or not is anyone's guess. Who wants to keep the poker face the longest I guess.

 

 

Spot on IMO

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17 minutes ago, PistoldPete said:

According to the BBC, Binnies submitted their latest offer on Monday..  giving  a 72 hour window to respond but Quantuma rejected the offer on Tuesday.  So as I read it the Binnes offer was too low (I would have thought fairly obviously too low) and it was rejected fairly pronto.

Which suggests on Mon it was potentially comparable to the best offer we have....?

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6 minutes ago, Rev said:

It all sounds pretty gloomy, I have to say.

Is there a mechanism where the stadium owning company could also be forced into administration, if so would that help the process?

No and No, even if that could happen its two seperate entities so it would do no good.  Mel needs to dig deep one last time to ensure the survival of the club, if not, I can see Ashley picking it up on the cheap when Mel finds out DCC refuses to allow change of use and its a big white elephant in the centre of PP.....

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11 minutes ago, Rev said:

It all sounds pretty gloomy, I have to say.

 

Yes, And a Woman rang in to say a hurricane is on it's way...Hhmmm well Mr Fish that didn't work out to well did it

image.png.c7ded65820c49f5b0b49c749fe1b5f9b.png

Edited by Unlucky Alf
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4 hours ago, NottsRammy said:

Vote for locking this thread as nothing is going to happen till we know for certain if its league 1 or championship.  Just people drivelling on about same old thing over and over again . 

You should put Rooney right on this -  he has a different view 

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3 minutes ago, RAM1966 said:

No and No, even if that could happen its two seperate entities so it would do no good.  Mel needs to dig deep one last time to ensure the survival of the club, if not, I can see Ashley picking it up on the cheap when Mel finds out DCC refuses to allow change of use and its a big white elephant in the centre of PP.....

I’d think the stadium owning company can be put into administration. MSD have a debenture and there are defaults all over the shop. I’d guess the understanding with MM is it stays out of admin if he plays ball 

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6 minutes ago, Chester40 said:

Which suggests on Mon it was potentially comparable to the best offer we have....?

The previous offer from Binnies was quoted at £28 million excluding the stadium. Their latest  offer at £30 m including the stadium, which I would say although nominally higher is actually significantly lower in value overall than their earlier offer. So it looks like they actually didn't want the stadium at all.

But I honestly do not know waht other offers we have had. The BBC said that Binnies bid was in the belief ther ewere no other bids on the table. Yet Quanutuma had said they were reviewing bids (plural), so not sure why Binnies would think theirs was the only bid.

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