The Administration Thread

[Gaspode]

I was really hopeful that the meeting might move things in the right direction but reports of the impasse show that’s not the case - I’m pretty much done now. Almost 40 years as a season ticket holder and I’ve never felt so low about the future of our club….
Morris seems to be happy to let the club die rather than help us move forward. Without a very quick resolution, the majority of players will leave as they have to protect themselves and their future careers and in that case, I’d rather the admins pulled the plug now and Morris was left with nothing other than a few big loans he has to repay and a stadium he can’t sell. Bring on the Phoenix club and duck Mel Morris….

[Chilwellram]

1 hour ago, duncanjwitham said:

My guess, is that they just don't want the on-going uncertainty with the MSD loan. If Morris (for whatever reason) stops paying the repayments, it gets repossessed by MSD, and we have no idea what they will do in terms of rent or willingness to sell back to us in the future.  Plus there's all the mess with the loan being cross-secured against the training ground etc, and apparently other properties that Morris owns. It's better for everybody if the loan is cleared, and the stadium is back in the hands of someone relatively stable (i.e. the club itself, or the council).

Did MM make any payments to MSD for the loan ?

[CornwallRam]

1 hour ago, Donnyram said:

Does anyone know why CK can’t or won’t lease the stadium from MM?  You can only assume MM is asking for a lease cost way above market rates…….. perhaps the positioning on leasing other stadiums is “tactical” and they have done the benchmarking of costs to support negotiations.  Maybe MM put the lease rates so high to force the stadium purchase……. hence why the council are involved as they would give reasonable lease rates.
 

If this reflects reality then I remain hopeful that there will be a positive outcome from this mornings meeting. ??

Because the charge from the original MSD loan is against both club and stadium.  Unless that charge is settled, if Mel doesn't pay the loan, MSD could come after the club.

[cosmic]

So, is this the end of the club? Or the start of a really shitty beginning?

[Sparkle]

So then - what now ? Apart from sending Stuart Webb into the toilets with the relevant parties 

[TuffLuff]

So…am I right in thinking we are still back to the original problem that Mel wants a higher fee for the stadium than anyone is willing to pay so personally doesn’t have to pay off the MSD loan?

We’re back to everything on social media being confusing and no one talking in simple terms, so I’m only trying to get an idea of the state of play…

[Mick Harford]

1 minute ago, Sparkle said:

So then - what now ? Apart from sending Stuart Webb into the toilets with the relevant parties 

 

Kirchner funds us until stuff is sorted.

Sell what little assets we have (players) not that we will get much for them as buying clubs know we're B*ggered.

Failing that it's liquidation

[cosmic]

Death threats are absolutely unacceptable, but are we legally allowed to promise Mel Morris a hard slap around the face if we ever see him?

[SBW]

Just don't see CK buying the club.  He's been keen to big himself up about all the money he's got, but he can't afford to buy the stadium? 

So he wants the club, but the asset that holds all the value to make his purchase worthwhile... can't afford it.

Something isn't quite right with him.  

 

He's setting himself up to walk off and blame Morris.  How vocal (and unprofessional) he has been about Morris from the start rang alarm bells with me.  Any smart businessman wouldn't talk that way about someone they really need on their side to get the deal done. 

 

What this has all done though, has given him a big platform and got his name out there more.  

Edited May 8, 2022 by SBW

[Leeds Ram]

15 hours ago, Tamworthram said:

I said you may be right but my real point is we wouldn’t benefit if he was prevented from owning his other businesses and therefore pursuing such action could be viewed as vindictive. 
 

If he was prevented from owning his other businesses would you be happy if he therefore chose to close them down even though it may result in a loss of income for HMRC and possibly peoples jobs? (I don’t really know the details of his other businesses). He’d probably try to sell them but would you be happy to take that risk for no gain?

and then you kind of backtracked so i thought I'd reinforce my point. If someone is prone to committing unethical actions and skirting the rules then that surely should put into question if they're a suitable person to be owning companies... I don't see it necessarily as vindictive but closer to protecting entities from Mel's seemingly poisonous influence. 

[Tyler Durden]

6 minutes ago, cosmic said:

Death threats are absolutely unacceptable, but are we legally allowed to promise Mel Morris a hard slap around the face if we ever see him?

Not sure what one could possibly threaten Morris with anyway as quite clearly the man has no conscious 

[Leeds Ram]

Kirchner's series of tweets don't sound good and my previous optimism is starting to wane. You have to hope it's not the end but if the same obstacles remain and there is no clear way forward then what options are we really left with?

[BuckoBeast]

It is very much doom and gloom but CK has still written ‘hopeful that everyone will come around’ so get it done 

[Turk Thrust]

2 hours ago, G STAR RAM said:

Which of them is an assumption? 

Do you think its a coincidence that we paid no HMRC debts and then entered administration as soon as they were allowed to pursue creditors?

The loan part of course is conjecture, MSD may have insisted on additional security.

Both? Of course you are surmising all this as you do often, passing them off as statements of fact, unless of course you are ITK and party to some inside knowledge that others don’t have. It wouldn’t be so bad if you prefaced all this with “I think that…..”

[RammingStone66]

5 minutes ago, SBW said:

Just don't see CK buying the club.  He's been keen to big himself up about all the money he's got, but he can't afford to buy the stadium? 

So he wants the club, but the asset that holds all the value to make his purchase worthwhile... can't afford it.

Something isn't quite right with him.  

 

He's setting himself up to walk off and blame Morris.  How vocal (and unprofessional) he has been about Morris from the start rang alarm bells with me.  Any smart businessman wouldn't talk that way about someone they really need on their side to get the deal done. 

 

What this has all done though, has given him a big platform and got his name out there more.  

Big platform? I think you over estimate the global reach of DCFC. Barely anyone outside of English football cares and many inside English football don't care about us or Slync.io either. His company having ties to Golf and F1 are far bigger platforms than us.

 

[Sparkle]

13 minutes ago, Mick Harford said:

 

Kirchner funds us until stuff is sorted.

Sell what little assets we have (players) not that we will get much for them as buying clubs know we're B*ggered.

Failing that it's liquidation

I can’t see Kirchner funding us at this point 

actually the administrators have to act - sell the club at any price or wind it up it’s their call.

Edited May 8, 2022 by Sparkle

[G STAR RAM]

4 minutes ago, Turk Thrust said:

Both? Of course you are surmising all this as you do often, passing them off as statements of fact, unless of course you are ITK and party to some inside knowledge that others don’t have. It wouldn’t be so bad if you prefaced all this with “I think that…..”

So they didn't realise that the HMRC debt was running up and they didn't know that HMRC were unable to pursue the debt? Ok.

I think that they knew both...is that better?

I'm assuming you have inside knowledge to the contrary?

[AndyinLiverpool]

14 minutes ago, Mick Harford said:

 

Kirchner funds us until stuff is sorted.

Sell what little assets we have (players) not that we will get much for them as buying clubs know we're B*ggered.

Failing that it's liquidation

Why would he fund the club? If he sees his possible ownership as an increasingly unlikely scenario (he used the word 'impasse'), he's not going to throw money at it.

[CornwallRam]

I wonder how much it would cost to build a temporary ground?

Would it actually be viable to return to the Racecourse, lease a pitch, put up temporary seating stands along two sides and terraces at both ends. Use the cricket club infrastructure for toilets and refreshments. 

Would it be financially viable? Would it be possible in time?

It would certainly make a great story - maybe Netflix could fund it?

[May Contain Nuts]

1st line from the first post on this thread

"Now the American’s withdrawn"

Not the ideal day to accidentally open the first page of the thread instead of the latest!