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The Administration Thread


Boycie

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1 minute ago, IslandExile said:

So...

The Administrators (bless 'em) said they had secured funding to see the season out. That finished yesterday.

Kirchner has said the deal needed to be concluded by 7 May (yesterday) so that he could start writing the cheques. With the "impasse" in place and no solution around the corner, there's every chance CK will pull out.

So..... How is the club currently funded?

Indeed, is it currently funded?

Rooney said this 24-48 hours is critical. It's it fatal? Are we now facing liquidation.

When does Kirchner return to the States?

The "third party" won't be able to purchase the ground before he goes. So I guess that's the end of his bid.

That leaves this supposed late bid from Ashley. But why would he offer more than CK if neither think the club is worth the debt? He wouldn't but he could offer Mel more and the creditors less, which means the 15 point deduction.

This nightmare is about to build into a crescendo.

We could prob survive a 15 point deduction if it came to it.

Better than going out of business.

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seths-cap
1 minute ago, Kernow said:

If the alternative is liquidation, or playing in Stoke or Leicester, then I really would like to see him take over.

I get that and maybe it’s me but it’s like saying, you can die or you can live with a carrot up your chuffer for the rest of your life.

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23 hours ago, Jase116 said:

I’ve always tried to get around my head what Mel is doing,I understand he wants to recoup as much as possible that he lost running the club, but I’m at the point now of fgs let DCFC move on with CK in charge, don’t finish of a great football club, hopefully this gets sorted in the next few days, so we can prepare for next season and hopefully a more positive future ???

Spelling, Mr Jase, young man. "Ruining" is the correct spelling. See teacher after school.

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Just now, AndyinLiverpool said:

We are definitely in a beggars / choosers situation here..

A club to support is all we ask.

I agree. The club survivng is ultimately the only thing that really matters.

It's just so god damn frustrating - we could have a fresh, innovative new owner, a young manager with great potential that players - young and old - are desperate to play for, and a squad of talented young players.

But..... well you know.....

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seths-cap
4 minutes ago, Tyler Durden said:

Jean-Paul Sartre would be proud of your reasoning 

After a quick google search, I think I want to say thank you ? 

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20 minutes ago, Kernow said:

If the alternative is liquidation, or playing in Stoke or Leicester, then I really would like to see him take over.

From what I saw, Mel will only write off his directors loans (125Million+£), IF he gets his asking price for the ground. If not, he will push his claims against the club to get a percentage back from those funds. Means he is stopping any ground share option

Of course this is not confirmed- just folks talking online ?‍♂️

Edited by Hanny
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26 minutes ago, derby8 said:

Newsnow Birmingham City has BC takeover rumours and at least one fan site, proboards BC, mentions Ashley.

Fair dooos, but in the end they are guessing just like us. What someone thinks on a fan forum is a possible scenario isn’t really a source. Hey, I’m not having a go, but let’s face it no one knows sweet fanny adams. There isn’t a quote from MA’s accountant or PA who’s let something slip. Or some big wig from Brum who’s winked in a funny way, or a leak from the EFL. .. none of that. It’s hopeful gossip, pure and simple 

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5 minutes ago, Hanny said:

From what I saw, Mel will only write off his directors loans (125Million+£), IF he gets his asking price for the ground. If not, he will push his claims against the club to get a percentage back from those funds. Means he is stopping any ground share option

Of course this is not confirmed- just folks talking online ?‍♂️

I know, but as Kirchner says, we're at an impasse.

CK won't buy the Club if Morris is still involved, so he won't lease it.

Morris won't sell the stadium for less than what is owed to MSD.

MM's loans means he'd have to authorise any groundshare option to exit admin.

Something's got to budge, as right now there is no feasible way where CK can buy the Club from Morris. The alternative then shifts to somebody else taking over, or the Club dying.

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How are people still being picky over who buys us?

Could not care less at this point, if not someone soon we won’t even have a team to support!

you’d think Mike Ashley was a nazi the way people go on!

would love it to be kirchner tonight, but really will take anyone at this point! I don’t want to go to stoke or Leicester either, but i will if that’s all that we have.

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I assume that because MM is a creditor, he has approval rights over the creditors agreement. 

So he can effectively use the stadium leverage to effectively generate a "minimum amount" for himself greater than the rest of the unsecured creditors. 

Very wily. 

That, ladies and gentlemen, is a "businessman" in action. Only focussed on the self.

Ashley has done it to pensioners in companies he takes over. 

It's all just business... 

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