The Administration Thread

[Mostyn6]

10 hours ago, RAM1966 said:

Ill be gutted, but, Im a realist.

We will survive in some form or other, I have zero confidence in this deal going through as Morris is not going to do the decent thing. 

I just hope Q have secured another months funding from MSD.....

So why would you think it’s gonna be easier for Ashley than for Kirchner? What logic are you applying if you think the current deal will fall through due to Morris but that a deal with Ashley will be simple???

[BatRam]

Hoping the council buy Pride park so we never have to go through this again ?

[PistoldPete]

39 minutes ago, Archied said:

What a mess ,, how the hell did he manage that , it’s like me getting a loan secured on somebody else’s house that I don’t own 

Well as  its Derby who have a loan secured against an asset we do not own, in a way we should be grateful.. except that we used to own the stadium before Mel took it away from us so maybe not so grateful after all.  It is a mess for sure.  

[SamUltraRam]

Unless Q extend the period of exclusivity from tomorrow, why would CK start to pay the bills ?

[TuffLuff]

Does anybody a bit closer to a Radio Derby signal know if there’s been any significant change in the council?

Edited May 6, 2022 by TuffLuff

[duncanjwitham]

24 minutes ago, PistoldPete said:

Well as  its Derby who have a loan secured against an asset we do not own, in a way we should be grateful.. except that we used to own the stadium before Mel took it away from us so maybe not so grateful after all.  It is a mess for sure.  

There's an argument that we'd be in a worse position if we still owned the stadium. We would certainly be entirely on the hock for the MSD loan, with no way of trying to palm it off onto Morris.  There's also the possibility that Quantuma would have sold the stadium to some random loan sharks, given we needed cash quickly and it was the only substantial asset we would have had.

[SamUltraRam]

One thing that I 'think' is positive is this :

When does the 2022 summer transfer window open for EFL clubs? The 2022 summer transfer window for EFL clubs is expected to run over the same course as the Premier League. That means the window for EFL clubs will open on June 10 and will close at 11 pm on September 1

As long as players don't agree deals elsewhere before then of course.

One big issue with our out of contract players is that they can often agree higher salaries elsewhere because the new club doesn't have to pay a transfer fee - so can we compete with that, especially if the EFL impose salary restrictions on us in the business plan?

Will those players agents be thinking about what's best for their players career development under Rooney, or about their percentage cut of their players salary elsewhere ?

Edited May 6, 2022 by SamUltraRam

[Derbylad01]

Just now, TuffLuff said:

Does anybody a bit closer to the ground know if there’s been any significant change in the council?

No change, Labour gained but no overall majority.  Conservatives in driving seat 

 

https://www.derbytelegraph.co.uk/news/derby-news/labour-make-gains-tories-lose-7044682

[TuffLuff]

10 minutes ago, Derbylad01 said:

No change, Labour gained but no overall majority.  Conservatives in driving seat 

 

https://www.derbytelegraph.co.uk/news/derby-news/labour-make-gains-tories-lose-7044682

No significant change is probably good news for a stadium sale, and I’ll keep any political comment to myself!

[TheresOnlyWanChope]

1 hour ago, NottsRam77 said:

He can afford to lose 20m more than we can afford to lose our home.

its just a case does he need to lose 20 or lose face more…. I thought he was meant to be a fan ?

Can he actually afford to lose £20mil more, he may not have any money left apart assets.

[NottsRam77]

5 minutes ago, TheresOnlyWanChope said:

Can he actually afford to lose £20mil more, he may not have any money left apart assets.

Im pretty sure hes still a v wealthy man 

[Gee SCREAMER !!]

46 minutes ago, PistoldPete said:

Well as  its Derby who have a loan secured against an asset we do not own, in a way we should be grateful.. except that we used to own the stadium before Mel took it away from us so maybe not so grateful after all.  It is a mess for sure.  

if Morris wants someone to clear his debt on the stadium, there should be less issue than there seems to be .  If the council are willing to take on the debt annually to MSD, getting an annual payment to cover this from Kirchner, it can be signed over when the debt is transferred to the council.  20 million isn't even directly required.  Basically , both these blokes think that each others a nob and Kirchner won't agree to an annual rent while it belongs to Morris in case he utilises it for ongoing 'basics of PAYE' classes and Morris won't sign over a stadium in lieu of debt owed based on an annual rent, as he may have to be guarantor if he doesn't pay.

The bit in bold has been a scenario for weeks. 

 

[duncanjwitham]

1 minute ago, Gee SCREAMER !! said:

if Morris wants someone to clear his debt on the stadium, there should be less issue than there seems to be .  If the council are willing to take on the debt annually to MSD, getting an annual payment to cover this from Kirchner, it can be signed over when the debt is transferred to the council.  20 million isn't even directly required.  Basically , both these blokes think that each others a nob and Kirchner won't agree to an annual rent while it belongs to Morris in case he utilises it for ongoing 'basics of PAYE' classes and Morris won't sign over a stadium in lieu of debt owed based on an annual rent, as he may have to be guarantor if he doesn't pay.

The bit in bold has been a scenario for weeks. 

It's an objectively worse scenario than the council borrowing the £20m themselves and just buying the damn thing though.  The council have access to borrowing at much better rates than the MSD loan, so they're never going to just take on that MSD loan.

The other issue is the suggestion that the loan is also secured on some other properties that Morris owns. If that's right, he's not going to just hand over the stadium while MSD still have a charge against them.

[TheresOnlyWanChope]

9 minutes ago, NottsRam77 said:

Im pretty sure hes still a v wealthy man 

But no one knows his personal situation. Has he got some personal loan payable which is relevant to this situation? Has he no more money in the bank and is his wealth only wealth tied up in assets he owns- any properties and obviously the value of PP. Maybe he can’t sell PP for £1. He may have lost his money through DCFC and other businesses. 

[Gee SCREAMER !!]

2 minutes ago, duncanjwitham said:

It's an objectively worse scenario than the council borrowing the £20m themselves and just buying the damn thing though.  The council have access to borrowing at much better rates than the MSD loan, so they're never going to just take on that MSD loan.

The other issue is the suggestion that the loan is also secured on some other properties that Morris owns. If that's right, he's not going to just hand over the stadium while MSD still have a charge against them.

Agreed on a normal basis.  But time is off the essence and unless they already have an agreement for borrowing money in place it's going to take a while. Essentially, as long as legal agreement is made with the new owner, they shouldn't be arsed how much the loan costs as he's going to be paying it annually till the stadiums transferred to him on loan completion.  There just underwriting in the short term. 

[Scott129]

I know we all hate the Telegraph website, but I just can't see this falling through based on the tone of this article:

https://www.derbytelegraph.co.uk/sport/football/football-news/derby-county-kirchner-takeover-morris-7045078

"The Rams have been in administration since September and the American businessman's takeover of the club is nearing completion."

He's never going to be the one to break a big story, but I do believe that Nicholson knows the general vibe of what's going on. I've always said that he's very good at writing summary articles that collate other people's leaks, but won't do it himself even though he perhaps does know stuff.

[RoyMac5]

19 minutes ago, Scott129 said:

I know we all hate the Telegraph website, but I just can't see this falling through based on the tone of this article:

https://www.derbytelegraph.co.uk/sport/football/football-news/derby-county-kirchner-takeover-morris-7045078

"The Rams have been in administration since September and the American businessman's takeover of the club is nearing completion."

He's never going to be the one to break a big story, but I do believe that Nicholson knows the general vibe of what's going on. I've always said that he's very good at writing summary articles that collate other people's leaks, but won't do it himself even though he perhaps does know stuff.

Except Percy told us all about how the Alonso(?) takeover was going to happen... edit: wrong Telegraph, didn't think it would be the DET!

Edited May 6, 2022 by RoyMac5

[glyn1957]

2 hours ago, PistoldPete said:

Mel doesn’t owe £20 m though. DCFC owe that to MSD although it is secured against the stadium which is his asset. 
 

we need to get  a stadium deal to get MSD out of the equation. 

Sorry to seem thick but i do not know anything about high finance, so cant MSD call in the loan and then whoever owns the club deals directly with them.

 

[Leeds Ram]

I think we're all in a bit of a panic as the deal is on the one-yard line. It reminds me a bit like my attitude to my thesis atm.. I'm 6 weeks away from submission after working for 3 1/2 years on it but am wittering away to myself and having plenty of sleepless nights in a complete panic. Everything Kirchner is saying is positive, his financials have been approved as has his business plan for us. It may take a little longer than we'd like but the deal will be done and I'm confident Kirchner will be our new owner. The player's contracts may have to wait another fortnight before we can formally submit offers but there will be a derby county playing in league 1 next season. 

On the ground, we have to unfortunately just wait. I'd personally be happy for us to ground share at Notts county next season and let Mel sit with a worthless white elephant until he's forced into making a deal with us. But I understand why that's not an attractive option for anyone involved. The council will have to figure out a way to buy mel out for a reasonable sum and lease the ground to Chris at an attractive rate. At least we'll have learned never to trust an owner who starts buying core assets of our club himself. 

[cheron85]

1 hour ago, SamUltraRam said:

Unless Q extend the period of exclusivity from tomorrow, why would CK start to pay the bills ?

Maybe I've missed something in the interim (have been keeping my head in the sand for the last few months) but didn't Quantama previously say that any named preferred bidder would have to put up a non-refundable £5m? I've always assumed that's the reason Kirchner has been saying he'd be "funding the club" from the 7th regardless of the takeover status at that point...