The Administration Thread

[Rammeister]

19 minutes ago, Steve How Hard? said:

What have they spunked all their money on? 

Jacob Butterfield?

[Gone]

Not sure if it’s 100% reliable, however 

 

Edited March 29, 2022 by TexasRam

[Jimbo Ram]

2 minutes ago, TexasRam said:

Not sure if it’s 100% reliable, however 

 

Who is Andy?

[angieram]

Surely we need them to be just above the threshold? No golden share, no club.

[Caerphilly Ram]

Andy and Barry are a couple of mysterious Twitter profiles who often claim to be “ITK”, never with any evidence to back up their claims, though Andy does occasionally dig around on companies house and share things from there.
Both have tweeted similar lines in the last hour around there being 2 bids now, and neither bid being enough to satisfy the football and other creditors. Barry’s tweet is below, all taken with a pinch of salt as there’s no substance to back up his claims.

 

[Gone]

2 minutes ago, Jimbo Ram said:

Who is Andy?

A bloke with a moustache…..

dont know but he’s been very vocal regarding the process and seems to know his onions 

[StarterForTen]

5 minutes ago, Jimbo Ram said:

Who is Andy?

Looks like Oswald Moseley? Must have been attracted by our old black shirt away kit.

[TheSlate]

8 minutes ago, Jimbo Ram said:

Who is Andy?

Andy is a thunderpillock. He has a son called Barry. 

[davenportram]

Erm - the golden share is a red herring

 

1) exit Admin under an agreement that does not meet EFL minimum results in points deduction but the golden share is transferred

2) exit admin and meet EFL requirements golden share is transferred
 

if football creditors paid in full and HMRC and other creditors agree a payment plan for what’s left then golden share is transferred in either scenario.
 

There is no threshold for golden share transfer

 

[Eddie]

28 minutes ago, MackworthRamIsGod said:

Well if you thought Derby were a big club, Staines is massif.

So if they're above us in some respects, does that make us under Staines?

(one for the older poster there - especially if your name is Daz)

[MackworthRamIsGod]

19 minutes ago, TexasRam said:

Not sure if it’s 100% reliable, however 

 

That doesn't make any sense, I don't think.

As Angie says, no golden share means booted out the league completely, Derby County is no more.

Surely the bidders would be offering absolutely rock bottom price, so 10p in pound, or whatever and taking -15, at the very least, or they shouldn't even be in the running.

 

[AndyinLiverpool]

13 minutes ago, StarterForTen said:

Looks like Oswald Moseley? Must have been attracted by our old black shirt away kit.

It's Nigel Green

[PistoldPete]

23 minutes ago, TexasRam said:

Not sure if it’s 100% reliable, however 

 

£40 million is well above the amount needed to secure "golden share".   Is he confusing it with the 15 point penalty threshold?  

[duncanjwitham]

22 minutes ago, PistoldPete said:

£40 million is well above the amount needed to secure "golden share".   Is he confusing it with the 15 point penalty threshold?  

I think he’s just a bit confused about everything. The only thing we need to keep the golden share is to pay football creditors, so maybe £6m or so (assuming we’ve paid some bits since we entered admin) plus enough to convince HMRC etc that it’s a better deal than liquidation.  £40m almost certainly does both of those (depending on the stadium situation etc).  And I don’t see anybody paying just under the 25% threshold, they’re either going to meet it to avoid -15, or they’re going to miss it by miles to save a load of cash.

[Curtains]

45 minutes ago, Caerphilly Ram said:

Andy and Barry are a couple of mysterious Twitter profiles who often claim to be “ITK”, never with any evidence to back up their claims, though Andy does occasionally dig around on companies house and share things from there.
Both have tweeted similar lines in the last hour around there being 2 bids now, and neither bid being enough to satisfy the football and other creditors. Barry’s tweet is below, all taken with a pinch of salt as there’s no substance to back up his claims.

 

Well that’s not new .

I said that earlier 

[Woodley Ram]

54 minutes ago, Jimbo Ram said:

Who is Andy?

You know, Andy from the pub, knows Dave and is best mates with that guy from around the corner, whats his name, yea he went out with his sister.......no idea 

[BramcoteRam84]

Andy is all over the place. He’s saying £40m not including the stadium?! ? That would be plenty providing Mel has agreed to lease stadium and would probably even avoid -15 points unless HMRC are not agreeing to 25%, but even then with £40m bids on table we’re not talking not enough to pay football creditors and HMRC, there would be enough in the pot.

More likely (if it is £40m) then it’s including the stadium, a scenario could well arise where there isn’t enough to guarantee minimum 25p in pound for all creditors if a certain individual won’t budge on his £20m.

So he’s probably talking some baalocks but there may be some truth, it could well be feasible we have two bids, neither meet the threshold to avoid further points penalties (possibly worse) and further brinkmanship will ensue with EFL, Q, Bidders and Mel until the money runs out and we will really see how much they want to save a club. 

But this is more speculation to add to the pile, let’s see what gets revealed through more credible channels.

[PistoldPete]

1 minute ago, duncanjwitham said:

I think he’s just a bit confused about everything. The only thing we need to keep the golden share is to pay football creditors, so maybe £6m or so (assuming we’ve paid some bits since we entered admin) plus enough to convince HMRC etc that it’s a better deal than liquidation.  £40m almost certainly does both of those (depending on the stadium situation etc).  And I don’t see anybody paying just under the 25% threshold, they’re either going to meet it to avoid -15, or they’re going to miss it by miles to save a load of cash.

I think football crediors maybe down to about £4m now (assuming Jozwiak's fee is not a football creditor as money is not owed to an English club) . The MSD loan is secured against our assets and PPS too,  so that is a big issue, as is HMRC of course since either they accept whatever they are offered otherwise big trouble. Even so I would have thought £40 million should be enough to satisfy everyone but would be nice to get a bit more and avoid any further penalty at all. 

[Malty]

Well its nice to get something to discuss rather than this pit of nothingness over the last few days.

I would be happy-ish with a new owner, even with a 15 point deduction in league one. But honestly, it doesn’t bode well for any owner to only be prepared to pay this for us …

…. Are they going to be willing to continue to invest after that?

If quantuma’s efforts are around doing what’s best for the future of DCFC (leaving aside the fact that it’s not their remit to do so), then perhaps we should be grateful for their efforts on securing commitments for future funding rather than be frustrated by their poor communication skills?

[strawhillram]

39 minutes ago, MackworthRamIsGod said:

That doesn't make any sense, I don't think.

As Angie says, no golden share means booted out the league completely, Derby County is no more.

Surely the bidders would be offering absolutely rock bottom price, so 10p in pound, or whatever and taking -15, at the very least, or they shouldn't even be in the running.

 

Perhaps the £40m includes the bid for the stadium?