The Administration Thread

[Animal is a Ram]

 

[twelveincher]

Just now, Caerphilly Ram said:

Not read the article due to pay wall but I’m taking two things from this tweet at least. Percy has no update on things (either cause there is no movement or there is no leak yet) AND finally a prominent national media outlet is plainly calling out the endgame and how it needs resolving asap. It’s the most direct article heading I’ve seen thus far. Maybe it’s the start of the final pressure on all parties to resolve it. 

I’ve also not read it, but I’m taking it that Percy hasn’t heard anything. Nixon hasn’t heard anything. Mail have heard from Kirchner/Binnie’s… who had a bone to pick…. And the reality is Appleby and Ashley are in a bidding war (I BEG)

 

[duncanjwitham]

3 minutes ago, twelveincher said:

We’d have been able to 25p it

Not with a secured debt. If we don’t pay in full, MSD can just repossess the stadium and do what they want with it.  Charge whatever rent they like on it (not the good deal with have at the moment), sell it on to whoever will buy it, whatever.

[Ram-Alf]

34 minutes ago, Topram said:

Oooo I’m a Mod now

[duncanjwitham]

4 minutes ago, Big Trav said:

Mel owns the stadium NOT MSD. The day we went into admin Mel paid off the MSD loan on the stadium and kept it for himself. That is fact and been known for a long time. If Mel is the problem (and I say If as nothing is being leaked) then he’s being a stubborn barstool

So why did the administrators statement of affairs from mid November still show the club owing £20m to MSD, with a fixed charge?

[PistoldPete]

13 minutes ago, Caerphilly Ram said:

Not read the article due to pay wall but I’m taking two things from this tweet at least. Percy has no update on things (either cause there is no movement or there is no leak yet) AND finally a prominent national media outlet is plainly calling out the endgame and how it needs resolving asap. It’s the most direct article heading I’ve seen thus far. Maybe it’s the start of the final pressure on all parties to resolve it. 

The only information this tells us is that Percy has not been told by EFL who the preferred bidder is, which means (since Percy has clearly been on the batphone to trevor  Birch that Quantuma has not told EFL who the preferred bidder is (contrary to what they said on Friday).

Percy says "the maligned Football League is waiting for the preferred bidder". Poor Efl getting all this maligning.  

Also garbage about us turning down higher offers from Kirchner and Binnies, which I do not believe for a minute.  I think the Binnies bid was around £10 m lower than the more recent bids. 

 

 

 

Edited March 30, 2022 by PistoldPete

[Archied]

1 hour ago, duncanjwitham said:

Building a new stadium anywhere near the spec of a Pride Park is going to cost significantly more than than whatever Morris is wanting for it. IIRC Brentford spent £70m on their new one, Brighton £90m.  And that’s before you factor in time to build it, and what we do in the mean time etc.

Any option that doesn’t involve us playing at Pride Park in someway or another is a complete non-starter IMO. It’s giving up one of biggest advantages we have. A massive hit to our turnover is just going to make it that much harder to get out of League 1, given the salary restrictions in that league.

Thinking about it if the choice is a new afc derby playing at pride park or the rescue of derby county fc our historic club I’ve followed through thick and thin rebuilding and having to play somewhere else until we can build our own stadium or buy pp at a price that doesn’t destroy our club then I’m with the later , I’m of an age where as much as pp is great I still see derby being the baseball ground ,, build a new baseball ground 

[Curtains]

So still no concrete news yet. 

[kevinhectoring]

26 minutes ago, Big Trav said:

Mel owns the stadium NOT MSD. The day we went into admin Mel paid off the MSD loan on the stadium and kept it for himself. That is fact and been known for a long time. If Mel is the problem (and I say If as nothing is being leaked) then he’s being a stubborn barstool

Is this true ? I thought MSD had reported (after Q was appointed) that they had 20m out to the club (before the extra 5 was lent)

If you’re referring to the £20m deposit he’s allegedly put with them, I’d think that’s security for the guarantee that he has apparently given for the £20n loan 

[kevinhectoring]

33 minutes ago, GeneralRam said:

 

There is literally nothing for the buyers to buy other than the ground and place in league 1 with -15 points.

 

I’d think the buyers place quite a lot of value on a fan base of 20,000 per week 

[Elwood P Dowd]

13 minutes ago, Archied said:

Thinking about it if the choice is a new afc derby playing at pride park or the rescue of derby county fc our historic club I’ve followed through thick and thin rebuilding and having to play somewhere else until we can build our own stadium or buy pp at a price that doesn’t destroy our club then I’m with the later , I’m of an age where as much as pp is great I still see derby being the baseball ground ,, build a new baseball ground 

It’s quite reassuring that outside of Q no one knows anything ?

[TheresOnlyWanChope]

1 hour ago, rsmini said:

I’ve been saying for some time now a new owner might decide the best option is to build a new stadium somewhere in the county. The problem with that is it could well cost an awful lot of money to do so. 

Crazy if that’s the best option.... would cost less to buy PP. probably much less

[Curtains]

[davenportram]

If buyers aren’t willing to rent the stadium MM must be offering to charge a large fee - as maintenance and running cost would be his responsibility. Offer low rent and this option becomes viable in the short term

 

if he gifted the stadium he’d have to stump up the £20m personal guaranteed loan against it.

 

if he doesn’t do this and the club goes under he obviously has no real care for the club or it’s fans, and is just wanting to runaway from his “personal guarantee” for the loan that he was bragging about doing for the better of the club.

[strawhillram]

I think MM should pay off all the debts he incurred in full or gift the stadium.

he wants it all his own way to ensure he cuts his losses and liabilities.

MM’ doesn’t mind someone like MA paying off his debts but doesn’t like the idea of someone like MA taking the stadium for a low cost.

[Rev]

46 minutes ago, duncanjwitham said:

I thought the accepted wisdom was, that Morris was basically giving the ground away for free, he just wanted the money to cover the MSD loan. And despite what some people think, that *is* a club loan - it’s been used to pay player wages etc for the last couple of years, it’s not like Morris has been spending it on himself (as far as we know).

Obviously we don’t know the exact terms of the loan and Morris’s personal guarantees etc. But I imagine if the club still owned the stadium, we would be entirely on the hock for that £20m+, with no chance of Morris writing any of it off.

Sorry, I obviously wasn't making myself clear. 

My understanding is that Mel does indeed personally owe £20m+ on the stadium, rather than the club, however the bidders want him to settle that himself, regardless of any bid they put in, then gift them the stadium, for nothing,  in return for injecting the minimum required, around £30m, to keep the club alive, even with a deduction to start next season.

Fair enough, it's a further haircut he should make in the circumstances, but he's possibly looking to make sure it's in the long term benefit of the club, rather than the clubs new owners.

I was merely speculating that he may prefer guarantees that the new owners will not in the future divorce the ground from the club that plays in it.

After all, to take over a club that in the last published accounts generated around £30m of income, and to be debt free in the process, while only spending 1 years of income in its acquisition, would be a bargain, relatively speaking.

 

 

[BuckoBeast]

Was meant to be early this week for the news, now nearly the end, not surprising really 

[strawhillram]

3 minutes ago, Rev said:

Sorry, I obviously wasn't making myself clear. 

My understanding is that Mel does indeed personally owe £20m+ on the stadium, rather than the club, however the bidders want him to settle that himself, regardless of any bid they put in, then gift them the stadium, for nothing,  in return for injecting the minimum required, around £30m, to keep the club alive, even with a deduction to start next season.

Fair enough, it's a further haircut he should make in the circumstances, but he's possibly looking to make sure it's in the long term benefit of the club, rather than the clubs new owners.

I was merely speculating that he may prefer guarantees that the new owners will not in the future divorce the ground from the club that plays in it.

After all, to take over a club that in the last published accounts generated around £30m of income, and to be debt free in the process, while only spending 1 years of income in its acquisition, would be a bargain, relatively speaking.

 

 

Didn’t Mel divorce the club from the stadium? 
 

i think you are right in that’ he doesn’t want someone to exploit our current situation to gain a “free” stadium and later sell it for a profit.

Edited March 30, 2022 by StrawHillRam

[Curtains]

 

[The Scarlet Pimpernel]

1 hour ago, GeneralRam said:

There is literally nothing for the buyers to buy other than the ground and place in league 1 with -15 points.

Depending on what the EFL allows the new owner to buy that could be league 2 a year later. 

There are hardly any squat assets to buy.

Does that sound like a £50million club to you for someone with no emotional attachment to DCFC?

 

 

I don't agree with this General Ram. If the club is sold the ground has a value, quite a high one. Also the DCFC brand and potential are worth quite a bit. I don't think £40m is far off. 

Edited March 30, 2022 by The Scarlet Pimpernel