The Administration Thread

[Curtains]

10 minutes ago, Charlie George said:

Wonder if he knew about all the extra costs that came out on Thursday  / Friday?

Was speaking to someone who knows at the game Saturday,and there are doubts about the viability of the bid. Expects Ashley to get the club.

No chance 

[curb]

I wonder if there’s a way of stopping clubs mounting up debts as they happen rather than when it’s too late.

ie, an automatic one point penalty for every £5m debt to HMRC, rescinded when or if the debt is paid off.

It might flag up the problems as they arise so supporters would put pressure on their owners to pay up.

[Crewton]

23 minutes ago, Charlie George said:

Wonder if he knew about all the extra costs that came out on Thursday  / Friday?

Was speaking to someone who knows at the game Saturday,and there are doubts about the viability of the bid. Expects Ashley to get the club.

They didn't just "come out" at the end of last week though. The report was written 3 weeks ago and it's highly unlikely that Quantuma hadn't made CK aware of the movement in debts etc up to that point. 

And there's going to be doubts about the bid all the way because the scale of the debts are onerous, but it's the agreement with HMRC that will make or break it. 

 

[hintonsboots]

1 hour ago, Charlie George said:

Was speaking to someone who knows at the game Saturday,and there are doubts about the viability of the bid. Expects Ashley to get the club.

Barry the anon ?

[jono]

5 hours ago, kevinhectoring said:

Yes, EFL acted too late. But they did eventually say they would fast track the dispute. Q may have been reluctant to roll the dice before a tribunal and certainly Gibbo had no incentive to do anything but delay, dissemble and wait for MM to come crawling.
 

It’s clear from Parry’s comments at the time that he was as pissed off with Boro as he was with us and it’s hard to imagine EFL did not put pressure on Gibbo to settle so as to allow us to be sold. Q should have encouraged MM to resolve it much sooner through an indemnity to the club (and people were saying that a long way back, it’s not hindsight). Q misread the whole issue very badly, from a technical and tactical perspective. 
 

I’ve not seen anything in the rules that would enable the EFL to have forced a resolution. And no one else on here has explained in black and white what EFL could have done to bring Boro to the table. All Gibbo had to say to deflect the EFL was: “the Derby sale is not my concern, my club is entitled to pursue its legal rights as and when it likes ...”.  

And the EFL as representatives of all clubs including Derby, had the duty to say to Boro .. you are unfairly damaging the spirit of the competition, it’s rules and acting in an unsporting manner when you have had ample opportunity to address this with us or the courts prior to Derby’s administration. .. saying they might have “put pressure on Boro or were “peed off” isn’t really substantive action from the games organisers and rule makers is it ? Instead, by staying silent they put huge pressure on Derby and Q to cave in and go away. They failed to act in a fit and proper way. … But maybe that fits with them being “disappointed” with the rulings of their arbitration committees and accepting those rulings on other matters, with as they so delightfully put it “with regret” 

[B4ev6is]

1 hour ago, Charlie George said:

Wonder if he knew about all the extra costs that came out on Thursday  / Friday?

Was speaking to someone who knows at the game Saturday,and there are doubts about the viability of the bid. Expects Ashley to get the club.

I think kircher will get I think.

[1967RAMS]

I would be shocked if Kirshner turns out to be a credible buyer. I suspect he’s just enjoying the limelight and will disappear as soon as he needs to stump up the cash. I think he’s buying time in the hope that someone with actual money throws their hat into the ring with him 

[B4ev6is]

2 minutes ago, 1967RAMS said:

I would be shocked if Kirshner turns out to be a credible buyer. I suspect he’s just enjoying the limelight and will disappear as soon as he needs to stump up the cash. I think he’s buying time in the hope that someone with actual money throws their hat into the ring with him 

Well why would he say start paying things off for derby on may 7th and think he will be confirmed new owner.

[Ram-Alf]

1 hour ago, Crewton said:

They didn't just "come out" at the end of last week though. The report was written 3 weeks ago and it's highly unlikely that Quantuma hadn't made CK aware of the movement in debts etc up to that point. 

And there's going to be doubts about the bid all the way because the scale of the debts are onerous, but it's the agreement with HMRC that will make or break it. 

 

It's spelt...enormous ?

[Curtains]

24 minutes ago, 1967RAMS said:

I would be shocked if Kirshner turns out to be a credible buyer. I suspect he’s just enjoying the limelight and will disappear as soon as he needs to stump up the cash. I think he’s buying time in the hope that someone with actual money throws their hat into the ring with him 

 

[1967RAMS]

26 minutes ago, B4ev6is said:

Well why would he say start paying things off for derby on may 7th and think he will be confirmed new owner.

I just feel it may never happen (7 th or otherwise)

[JG400]

22 minutes ago, Curtains said:

I would be shocked if Kirshner turns out to be a credible buyer. I suspect he’s just enjoying the limelight and will disappear as soon as he needs to stump up the cash. I think he’s buying time in the hope that someone with actual money throws their hat into the ring with him 

 

22 minutes ago, Curtains said:

 

Too Late Eddie died in 1973

[ilkleyram]

56 minutes ago, 1967RAMS said:

I would be shocked if Kirshner turns out to be a credible buyer. I suspect he’s just enjoying the limelight and will disappear as soon as he needs to stump up the cash. I think he’s buying time in the hope that someone with actual money throws their hat into the ring with him 

Do you sit near @Charlie Georgeby any chance?

[1967RAMS]

14 minutes ago, ilkleyram said:

Do you sit near @Charlie Georgeby any chance?

Sorry but I don’t understand the comment, it might have relevance I haven’t picked up on. I hope to god I’m wrong but not a chance this fella is going to fork out 60 odd million to clear our debt and invest in our future imho . Chancer at best, con artist at worst 

[B4ev6is]

56 minutes ago, 1967RAMS said:

I just feel it may never happen (7 th or otherwise)

It will happen mate

I just know it will

[B4ev6is]

11 minutes ago, 1967RAMS said:

Sorry but I don’t understand the comment, it might have relevance I haven’t picked up on. I hope to god I’m wrong but not a chance this fella is going to fork out 60 odd million to clear our debt and invest in our future imho . Chancer at best, con artist at worst 

I think he will mate

Look stop being nagtive be postive.

[Ghost of Clough]

10 hours ago, PistoldPete said:

EFL only changed their rules in February. There was no reason to believe the amortisation method was against the rules at the time and certainly no reason to believe the EFL would challenge it retrospectively three years after it was introduced.

I don't think the amortisation method was a good idea becasue of the risk that we would have to write players values down sharply at the end of contracts. but there was no reason to believe it was against the rules especially as the auditors and the EFL signed off on it.

The EFL's current CFO had been quoted saying soemthing along the lines of "it's acceptable, but it is a risky policy for the club to take [due to pushing the amjority of amortisation charges until the end of contracts]"

[G STAR RAM]

1 hour ago, 1967RAMS said:

Sorry but I don’t understand the comment, it might have relevance I haven’t picked up on. I hope to god I’m wrong but not a chance this fella is going to fork out 60 odd million to clear our debt and invest in our future imho . Chancer at best, con artist at worst 

Nor does he need to fork out 60 odd million. 

Maybe familiarise yourself with what is actually required and then maybe you will not have such a grim outlook, which you reflect on here, than is necessary.

[MackworthRamIsGod]

11 minutes ago, G STAR RAM said:

Nor does he need to fork out 60 odd million. 

Maybe familiarise yourself with what is actually required and then maybe you will not have such a grim outlook, which you reflect on here, than is necessary.

Tbf CK tried to buy us once, our administrators didn't really entertain him. He pulled out.

He then went to Preston, was named PB and that ended without success. CK says it ended for one reason and Preston say another. The feeling within the club was that CK was a time waster and didn't have the money.

Even everyone's favourite friend, Kieran Maguire said he was "Alonso Mk2".

Here we are, CK is potentially our final chance at survival.

It may well end well and the concerns of Preston and a football finance expert in KM are unfounded and everything is rosey. But friends have every right to be sceptical.

[PistoldPete]

19 minutes ago, Ghost of Clough said:

The EFL's current CFO had been quoted saying soemthing along the lines of "it's acceptable, but it is a risky policy for the club to take [due to pushing the amjority of amortisation charges until the end of contracts]"

And he was exactly right, I believe.