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The Administration Thread


Boycie

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1 hour ago, Red Ram said:

The idea that the EFL were somehow 'out to get' Derby County is just ludicrous.

it is   

But the executive is ultimately answerable to the clubs, so by pissing off many of the clubs, we made life very difficult for ourselves.      

And MM then went for the executive ...

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3 hours ago, i-Ram said:

If I remember correctly the COVID Loan that was available was £8.3m. The debt to MSD when he threw his keys on the table was £20m, and to HMRC some £25m plus, plus other debt of some £25m to football clubs, solicitors, charities, shopkeepers, and forum owners.

Mel Morris completely mismanaged our club, and it’s finances, and has never once put his had up and admitted his mistakes. He bought the club with a stadium, and it’s sale should go through with the stadium back in the club’s ownership. He should do the right thing, but after 8 years of failing miserably I won’t hold my breath.

Plus it was... a loan. Much like the loan we ended up getting from MSD. Which is now causing such headaches. And didn't stop us going into administration.

I think only 14 of the 24 Championship clubs took the Covid loan. And yet we are still the only club in any division to go into administration since Bury in 2020. We sold ourselves our own stadium for £80million or whatever and still racked up enormous losses, season after season.

If the EFL didn't want to loan us money because they thought we were a financial basket case, heading for the rocks, they were right.

Morris shouldn't have taken any additional loans from MSD unless a) he knew he'd be able to repay them, or b) any guarantees he offered were either not tied to the club, or not tied to the club in a way that would make the loan somehow exempt from the administration process.

He didn't. He should have settled his debts and walked away; having failed to do this, he should have put the club into administration without tying it into a ridiculous debt that couldn't be dealt with under the normal administration process. But he failed to do that, too.

I do think the EFL could (and should) have dealt with the Boro and Wycombe claims much quicker, by telling them that since they had not commenced action at the point we entered administration, let alone won any kind of settlement, they could not be classed as football debtors or even "potential football debtors". That certainly delayed things and has been a major issue. But the EFL are not to blame for the initial mess, or the insane situation regarding that stadium. That's all on Morris.

Edited by vonwright
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1 minute ago, MackworthRamIsGod said:

They docked us 3 more points

But we don't give a duck

Cause we are Derby County

EFL are ducking C U Next Tuesdays 

Oley oley oley

Oley oley oley 

(EFL can be changed for Mel Morris, Steve Gibson, Boris Johnson, Sir Kier Starmer, etc etc).

little tweak for balance (wouldn't want the 'no politics' police to remove your post ?)

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1 minute ago, CBRammette said:

So is the silence productive, stubborn who blinks first or just ominous do you think? 

CK is in Bankok representing his company at a golf tounament - sure he's left people to work on the issues, but wouldn't really expect an update until there is some firm news....

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56 minutes ago, IslandExile said:

Isn't that covered by the Kaide Gordon deal?

I thought our wage bill up to June 10th would be running fairly in excess of that.  There is an easy get out -  the players renegotiate, waive, or defer there wages.  If there not going to be here in 4- 5 weeks though they may not want to.  If I had that kind of cash I would, if it allowed other staff to be paid.  We'll see how it pans out.

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The way this takeover is dragging on we will soon have a bigger thread on our administration than the Bristol City one. I have heard that Mr Pop might be up for the pulizar prize? 

I think the takeover will go through, I wish Ashley would go away as I just want this done. We can then rebuild within the constraints of the EFL business plan and operating expenditure. It would be good to give Wayne his budget ASAP so that he will know what wages he can afford because we will not be paying a fee for anyone, not sure about loans as they generally come at a cost as well.

Plenty of free agents out there, I think we will have a decent team next year (less a few players such as Lawrence who I expect to be gone), better than this and I think we will have a decent go at promotion from what is a horrible and tough division (ask Sunderland and others).

For the championship next year (and possibly the one after that) I think we (they) will have an extra category of those desperate not to cross the FFP line and possibly failing. I think a lot of people (as we where a few years ago) do not realise reality. If clubs think they can still sell their way out of FFP with the sale of a £20m player they are apart from the very odd player very wrong. For the moment those times have gone.  

For the first time those coming up from L1 could do well as a lot of clubs take a sharp knife to their budget. Of course the PP will always be there so expect to see Norwich, Watford and possibly Leeds splash the cash to go back up.

Looking forward to next year and to renewing my season ticket

 

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14 minutes ago, Woodley Ram said:

The way this takeover is dragging on we will soon have a bigger thread on our administration than the Bristol City one. I have heard that Mr Pop might be up for the pulizar prize? 

I think the takeover will go through, I wish Ashley would go away as I just want this done. We can then rebuild within the constraints of the EFL business plan and operating expenditure. It would be good to give Wayne his budget ASAP so that he will know what wages he can afford because we will not be paying a fee for anyone, not sure about loans as they generally come at a cost as well.

Plenty of free agents out there, I think we will have a decent team next year (less a few players such as Lawrence who I expect to be gone), better than this and I think we will have a decent go at promotion from what is a horrible and tough division (ask Sunderland and others).

For the championship next year (and possibly the one after that) I think we (they) will have an extra category of those desperate not to cross the FFP line and possibly failing. I think a lot of people (as we where a few years ago) do not realise reality. If clubs think they can still sell their way out of FFP with the sale of a £20m player they are apart from the very odd player very wrong. For the moment those times have gone.  

For the first time those coming up from L1 could do well as a lot of clubs take a sharp knife to their budget. Of course the PP will always be there so expect to see Norwich, Watford and possibly Leeds splash the cash to go back up.

Looking forward to next year and to renewing my season ticket

 

Ashley is the bogeyman in this, as soon as things don’t go to plan the press and Twitter wheel out the spectre of Ashley to frighten everyone. ?????

Check under your beds tonight Ashley might be hiding under there?

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