The Administration Thread

[Curtains]

Nothing concrete yet then 

[strawhillram]

2 minutes ago, Curtains said:

Nothing concrete yet then 

The only concrete thing we have (not) got is the stadium ?

[B4ev6is]

Well appentley appley made a 4th bid for derby county maybe he is willing to meet 50m asking price.

[Sparkle]

14 minutes ago, StrawHillRam said:

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

I would have thought so, no point buying without it ?

[strawhillram]

2 minutes ago, Sparkle said:

I would have thought so, no point buying without it ?

Agree. It’s what a businessman’s like MA wants - property / real estate. 
 

[jimtastic56]

1 hour ago, angieram said:

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

When did Charlie and The Chocolate Factory get involved in all this?

[Guest]

9 minutes ago, BramcoteRam84 said:

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.

Andy and Barry are both chancers who take stabs in the dark from what they read. I gave up on them weeks ago.

I know for certain that on Friday both Appleby and Ashley had made bids. I do not know how much they have bid or if either bid is sufficient to avoid a points deduction. I do not know if there are any other bids. But the fact that those two bids have been made together with the pedigree of the bidders gives me the best hope I am going to be given that we will avoid liquidation until Q finally tell us they have chosen a PB. Together with the fact that Trav has told us that Mel Morris will definitely not be involved with DCFC in the future then I remain optimistic of the outcome. Appleby and Ashley would not have remained in the process for this long if they did not think they had a chance of acquiring the club.

[Archied]

1 minute ago, jimtastic56 said:

When did Charlie and The Chocolate Factory get involved in all this?

And here was me thinking it was a dodgy activity with a pop star ??‍♂️

[B4ev6is]

Can some email Q 

Just to see if they have had a meeting with efl.

[I am Ram]

Couldn't both bids join forces, it would be over tomorrow ?

[PistoldPete]

6 minutes ago, Brailsford Ram said:

Andy and Barry are both chancers who take stabs in the dark from what they read. I gave up on them weeks ago.

I know for certain that on Friday both Appleby and Ashley had made bids. I do not know how much they have bid or if either bid is sufficient to avoid a points deduction. I do not know if there are any other bids. But the fact that those two bids have been made together with the pedigree of the bidders gives me the best hope I am going to be given that we will avoid liquidation until Q finally tell us they have chosen a PB. Together with the fact that Trav has told us that Mel Morris will definitely not be involved with DCFC in the future then I remain optimistic of the outcome. Appleby and Ashley would not have remained in the process for this long if they did not think they had a chance of acquiring the club.

Thanks Brailsford. And of course both Appleby and Ashley have owned football clubs before so no issue with fit and proper test.

[Tyler Durden]

4 minutes ago, B4ev6is said:

Can some email Q 

Just to see if they have had a meeting with efl.

I just did....got out of office reply saying they are spending a few days in Las Vegas after attending the Oscar ceremony in Hollywood at the weekend but should be back by the start of next month. 

[kevinhectoring]

8 hours ago, Coconut's Beard said:

You say the administrators didn't foresee that or deal with that quickly enough, but of course they did. Their idea to resolve it was cross-class cramp down - a perfectly valid legal solution, so why should they anticipate the EFL refusing it? Of course that's hindsight speaking!

I do say that. The open letter from MM to Gibbo got the ball rolling on a settlement and that process should have been initiated by Q in 2021. Couhig and Gibson both said no one made contact with them about the claims for months. Dealing with them should have been a priority
 

I don’t think your contention about the cram down holds water. @Oldbenposted a marketing circular by a law firm - from 2019 I believe - where they wrote about schemes of arrangement and how they work. The paper went on to say that where football creditors are concerned, schemes might  not provide a full solution because the compromise might contravene the FC rule. 
 

Q’s proposal was no different. 
 

None of us is in a position to say whether the EFl was wrong or right in its analysis. This is because it turns on the insolvency policy which we have not seen. But at best it was a grey area and Q needed to ensure EFL was onside with Q’s analysis well in advance of Q putting all their eggs in one basket (and telling Rooney he’d be able to sign players after the famous Thursday meeting with EFL). It was a train wreck of monumental proportions which demonstrated that Q and its advisers had not spotted the dangers outlined in the circular Oldben posted. 

I’m not saying at all that the EFL are blameless. They were weak in dealing with the Gibbo claim (and they are now paying the price). But their view on the cram down would simply have come from their legal team and it’s not a view anyone should have been surprised by. 

[B4ev6is]

10 minutes ago, Tyler Durden said:

I just did....got out of office reply saying they are spending a few days in Las Vegas after attending the Oscar ceremony in Hollywood at the weekend but should be back by the start of next month. 

They better have not

We need this sorting now

Look just pick a pb 

[Tyler Durden]

2 minutes ago, B4ev6is said:

They better have not

We need this sorting now

Look just pick a pb 

I was joking, sorry.

They're actually going island hopping around Hawaii and Honolulu instead of Vegas now. 

[GeneralRam]

9 minutes ago, B4ev6is said:

They better have not

We need this sorting now

Look just pick a pb 

There's no PB because we are not worth the money.

The club will be liquidated after the season is done.

[Mucker1884]

6 minutes ago, B4ev6is said:

They better have not

We need this sorting now

Look just pick a pb 

C'mon mate.  It's only a few days.  Not even a full week.  And let's face it, they've been hard at it non-stop since September.  They didn't finish on Christmas eve until gone 2pm!
They deserve a break, and I'm sure they'll come back refreshed, batteries recharged, and raring to go.

... And hey... Vegas eh?  They might even come back and put their own offer in!  ?

 

#wish ewe were here.

[Mucker1884]

1 minute ago, GeneralRam said:

There's no PB because we are not worth the money.

The club will be liquidated after the season is done.

#harsh

[B4ev6is]

7 minutes ago, Tyler Durden said:

I was joking, sorry.

They're actually going island hopping around Hawaii and Honolulu instead of Vegas now. 

I dont feel like joking mate

Not when our club is at risk.

[B4ev6is]

1 minute ago, Mucker1884 said:

C'mon mate.  It's only a few days.  Not even a full week.  And let's face it, they've been hard at it non-stop since September.  They didn't finish on Christmas eve until gone 2pm!
They deserve a break, and I'm sure they'll come back refreshed, batteries recharged, and raring to go.

... And hey... Vegas eh?  They might even come back and put their own offer in!  ?

 

#wish ewe were here.

They can have a freaking break once take over is done.