The Administration Thread

[TuffLuff]

36 minutes ago, RoyMac5 said:

Perhaps this is why? Thought it was odd at the time and kicked off lots of who owns the stadium stuff. ? So for old times sake... ?

For a bit of balance, “Andy” posted this three days ago before coming back to stir the pot. Have no issue with his info, but frankly his/his mates motives are questionable and his posts are too unbalanced. He can do one because he’s just playing on peoples distressed emotions.

 

[kevinhectoring]

51 minutes ago, duncanjwitham said:

Yeah, the question is what would have happened if Morris had put the stadium into admin at the same time. Would that have completely removed Morris from the process, or would he still have other assets that the MSD loan is secured against and still be involved somehow.

The MM 20m cash deposit (if there is one) makes it hard to remove MM. If MSD take it and are subsequently paid off, as is likely, I believe this gives MM a claim against the club. Odd as that sounds

 

[RadioactiveWaste]

2 minutes ago, TuffLuff said:

For a bit of balance, “Andy” posted this three days ago before coming back to stir the pot. Have no issue with his info, but frankly his/his mates motives are questionable and his posts are too unbalanced. He can do one because he’s just playing on peoples distressed emotions.

 

He always struck me as a mixture of some genuine info, some join the dots and a lot of axes to grind.

 

[BobdeBilder]

17 minutes ago, minesahartington said:

I was once in NewYork looking at the early morning skyline from a famous viewpoint. 2 American ladies asked me which was the Empire State Building. It was so obvious. I said “the one with the gorilla hanging off the roof” they said “wow where”… just about sums up the average american

With an English accent you can tell them anything and they will believe you. Where I worked a woman used to call the office just to hear me talk. I love them bits though, so much so I became one in 2010. I have two nice shiny passports now. I love pissing off TSA and customs both sides of the Atlantic. I was once asked at Manchester airport how long I would be in the states for. As long as I want, I said. No you won't, you can only stay (3 months I think it was) he said. Nope pretty sure I can stay longer, I replied. Now he was getting annoyed. As a British citizen you cannot stay as long as you want. Ok then, I got my US passport out, put it on the counter and told him I would travel on this one then. Cue red face and muttering about smart arse wasting his time. Childish I know, but anything for a laugh.

[EnigmaRam]

18 minutes ago, Arsene Titman said:

So the EFL do have discretion regarding the applying of a further 15 points deduction. From the Derby Telegraph this morning:

“If there is to be a further points penalty, when will it be?

The EFL's insolvency policy says: "Such deduction to take effect at a time to be determined by the Board in its absolute discretion but ordinarly at the commencement of the Season following the Season in which the Insolvency Event occurredI’m still of the opinion that having a 15 point deduction next season is very unfair. 

 

Why should a NEW owner have this imposed against him and his new  purchase?

I understand the reason for the rule, but it should be to stop owners putting the club in admin then buying it back out to clear their own debts. 
If someone’s willing to spend millions to pay off as much of someone else’s debt that they can afford they shouldn’t be then penalised for it. 
 

It’s just immoral and unjust!!

[Ram-Alf]

8 minutes ago, BobdeBilder said:

With an English accent you can tell them anything and they will believe you. Where I worked a woman used to call the office just to hear me talk. I love them bits though, so much so I became one in 2010. I have two nice shiny passports now. I love pissing off TSA and customs both sides of the Atlantic. I was once asked at Manchester airport how long I would be in the states for. As long as I want, I said. No you won't, you can only stay (3 months I think it was) he said. Nope pretty sure I can stay longer, I replied. Now he was getting annoyed. As a British citizen you cannot stay as long as you want. Ok then, I got my US passport out, put it on the counter and told him I would travel on this one then. Cue red face and muttering about smart arse wasting his time. Childish I know, but anything for a laugh.

Why would you choose to be Spanish?

[Crewton]

1 hour ago, RoyMac5 said:

Perhaps this is why? Thought it was odd at the time and kicked off lots of who owns the stadium stuff. ? So for old times sake... ?

 

 

Mel may have defaulted on the MSD loan but they chose not to enforce administration. 

[AndyinLiverpool]

28 minutes ago, TuffLuff said:

For a bit of balance, “Andy” posted this three days ago before coming back to stir the pot. Have no issue with his info, but frankly his/his mates motives are questionable and his posts are too unbalanced. He can do one because he’s just playing on peoples distressed emotions.

 

Why does it have to be balanced?

[PistoldPete]

16 minutes ago, EnigmaRam said:

 

Why should a NEW owner have this imposed against him and his new  purchase?

I understand the reason for the rule, but it should be to stop owners putting the club in admin then buying it back out to clear their own debts. 
If someone’s willing to spend millions to pay off as much of someone else’s debt that they can afford they shouldn’t be then penalised for it. 
 

It’s just immoral and unjust!!

Yes this is the flaw in the system. Plus lack of transparency in the rules. Existing owners of other clubs feel aggrieved that they are having to cover COVID losses whilst Morris left without covering his. 
 

but that’s an issue between owners of other clubs and the former owner of our club. What’s it got to do with our club now or the new owners? 

[Curtains]

14 minutes ago, Crewton said:

Mel may have defaulted on the MSD loan but they chose not to enforce administration. 

They probably chose not to enforce Liquidation because they had a loan off Mel ie allegedly the other way .

So many intricacies in their whole debacle mate .

We will just have to see how it all pans out when CK  looks in the Data room set up by the Administrators 

Edited April 8, 2022 by Curtains
Changed I to ie

[BobdeBilder]

25 minutes ago, Unlucky Alf said:

Why would you choose to be Spanish?

Not that many "wetbacks" ? in Missouri. A few working the farms around Joplin. Now southern Texas is another matter. ?

Edited April 8, 2022 by BobdeBilder

[Curtains]

23 minutes ago, AndyinLiverpool said:

Why does it have to be balanced?

 

[Carnero]

[Ram-Alf]

8 minutes ago, BobdeBilder said:

Not that many "wetbacks" ? in Missouri. A few working the farms around Joplin. Now southern Texas is another matter. ?

The majority of Americans I've met have been great, My humour at times fly's straight over their heads, But they give a polite smile.

An awkward time was in Barcelona when England were playing, In a bar off Las Rambles to watch the game as we didn't have tickets, Packed with English fans, A group of 10/12 young Americans come in get their beers and stand in front of the TV, We ask politely for them  to move, Which they did, But kept creeping to where they were, All fans getting pi$$ed off, I ask politely for them to move again, I then get a volley of verbal's from one of the females, She was told to duck off, Then the biggest of the males who was taller than me told me to duck off, At that point the rather larger group I was with all stood up and pointed to the door with their reply...they did and leaving their drinks.

A good job there was back up...or I might have had some of the red stuff coming from my mush.   

[Stive Pesley]

19 minutes ago, Curtains said:

They probably chose not to enforce Liquidation because they had a loan off Mel ie allegedly the other way .

Trying to work out possible scenarios here, so bear with me

We know that MM didn't pay the players on at least one occasion, because he was expecting the new owner to be in place - so not inconceivable that he also missed an instalment of his MSD repayments for the same reason.

Curious to know if the MSD loan has continued to be repaid since we've been in Admin, or whether the payments were frozen until we came out of admin? If that were the case, then it may go some way to explain why MM chose to go down the admin route

 

 

[Alty_Ram]

31 minutes ago, EnigmaRam said:

 

Why should a NEW owner have this imposed against him and his new  purchase?

I understand the reason for the rule, but it should be to stop owners putting the club in admin then buying it back out to clear their own debts. 
If someone’s willing to spend millions to pay off as much of someone else’s debt that they can afford they shouldn’t be then penalised for it. 
 

It’s just immoral and unjust!!

Well quite.. We have several times seen statements from the EFL about wanting to preserve the long term future of the club while at the same time threatening to apply sanctions that fundamentally undermine the value of the club to any potential saviour.

I genuinely believe that the EFL don't wish us to cease to exist but I just don't think that our situation was what they had in mind when these rules were written up. We have no stadium and an utterly threadbare squad on short contracts due to a seemingly endless embargo and then administration on top. There is just very little residual value, that's the fact of it.

They can brandish their rulebook and stamp their feet all they like and demand that certain creditors are paid but if a series of incoming owners say that the club is worth nowhere near enough to do that then they can just apply their rules and be damned and send us under or they can look at the discretionary element and say OK, well lets be pragmatic here and find a way through this and perhaps afterwards we can sit down and review the rules we've made as to whether they work in all situations. This isn't about trying to duck debt to gain unfair advantage, it's about trying to survive. Even if we achieve that, the DCFC entity is in a seriously distressed state in need of an extensive rebuild on and off the pitch. Regardless of what some delusional fans of other teams think, we have absolutely not got away with anything, far from it, we've taken an absolute mauling that could take years to turn around even with new owners prepared to invest. Don't make this any harder than it already is.

[Flying Fokker]

1 hour ago, EnigmaRam said:

 

Why should a NEW owner have this imposed against him and his new  purchase?

I understand the reason for the rule, but it should be to stop owners putting the club in admin then buying it back out to clear their own debts. 
If someone’s willing to spend millions to pay off as much of someone else’s debt that they can afford they shouldn’t be then penalised for it. 
 

It’s just immoral and unjust!!

It’s so that the EFL clubs feel better about themselves.  Flip the argument the other way and The Rams could have been in L1 this season. Many clubs thought so anyway.  So the EFL is unlikely to concede anything ref the points being applied this season.  There could be a transfer embargo as well.

[Flying Fokker]

16 minutes ago, Alty_Ram said:

Well quite.. We have several times seen statements from the EFL about wanting to preserve the long term future of the club while at the same time threatening to apply sanctions that fundamentally undermine the value of the club to any potential saviour.

I genuinely believe that the EFL don't wish us to cease to exist but I just don't think that our situation was what they had in mind when these rules were written up. We have no stadium and an utterly threadbare squad on short contracts due to a seemingly endless embargo and then administration on top. There is just very little residual value, that's the fact of it.

They can brandish their rulebook and stamp their feet all they like and demand that certain creditors are paid but if a series of incoming owners say that the club is worth nowhere near enough to do that then they can just apply their rules and be damned and send us under or they can look at the discretionary element and say OK, well lets be pragmatic here and find a way through this and perhaps afterwards we can sit down and review the rules we've made as to whether they work in all situations. This isn't about trying to duck debt to gain unfair advantage, it's about trying to survive. Even if we achieve that, the DCFC entity is in a seriously distressed state in need of an extensive rebuild on and off the pitch. Regardless of what some delusional fans of other teams think, we have absolutely not got away with anything, far from it, we've taken an absolute mauling that could take years to turn around even with new owners prepared to invest. Don't make this any harder than it already is.

Leicester City emerged out of admin.  Look at them.. Ahem.  Now there’s a story.  

[mwram1973]

21 minutes ago, Flying Fokker said:

Leicester City emerged out of admin.  Look at them.. Ahem.  Now there’s a story.  

Yeah, cheat to get to the prem and put local companys out of business by not paying up. The reason points deductions for entering administration came about was because of what they did. Yeah great story.?

[Gee SCREAMER !!]

25 minutes ago, Flying Fokker said:

Leicester City emerged out of admin.  Look at them.. Ahem.  Now there’s a story.  

That won't happen again.  Came out of admin paying diddly and then spent millions without anyone batting an eyelid . embargos. 12 point deductions etc.  It's their lovely legacy.