The Administration Thread

[RadioactiveWaste]

15 minutes ago, Derbados said:

I’m interested in Kirchners interim funding of the club whilst under conditional contract exchanges. 

If this goes south and he pulls out, lets say 3 weeks from now, do we owe him money? will he be borrowing to start funding the club etc etc 

intrigued to know the payment structure and how this impacts us in case of a “no sale” 

This is an interesting point.

Let's presume it's on a good faith basis - he'll just have to write it off along with all his other costs if it falls apart.

However, I can't think how he can fund it without exposure on his part, I doubt he'd be able to loan it against the club in the current position (still conditional, club still in administration, nothing in the club to act as security)

Is it as simple as "it's £0.5m (or whatever the figure is) pay to play to carry on with this(fund the club and exchange contracts), or, you exclusivity ends here and it's time to throw ourselves on the mercy of Mike Ashley"

[RoyMac5]

4 minutes ago, Curtains said:

No we would ground share. 
Duck MM 

We can't Morris is a Club creditor he won't play along without the stadium sale.

[RipleyRich]

14 minutes ago, alexxxxx said:

Yea to me, unless there's been a significant deposit been paid this is just a way to keep Ashley out. It's unclear what the penalties are for not completing the deal.

Unlikely to be any penalties if the clauses aren't met. That's why they are in a contract.

[FlyBritishMidland]

2 hours ago, duncanjwitham said:

Radio Derby are in full on Debbie Downer mode ?‍♂️. Ed Dawes seems convinced the stadium is going to screw everything, and they’re currently talking about if Mike Ashley will come in and save us. Baffling. 

It’s a shame but that’s exactly the reason why I’ve avoided Radio Derby this morning.  Throughout this process Ed Dawes has tried to whip up hysteria.  The last match was a classic example.  Before the game He reports Mel’s in hiding refusing to talk to anyone.  Afterwards, apparently not!!  Based on no fact whatsoever.

Anyway, today is a great day.  Like others have said, feels like a weight has been lifted.  Up the Rams ?!!

[RAM1966]

15 minutes ago, duncanjwitham said:

Ed seems to have taken the "conditional on the stadium sale" bit as meaning that literally nothing has changed since yesterday, it's all still down to whether Morris can be bothered or to sell or not.  Honestly, he seemed a bit baffled as to why everyone was so excited.

And then they had a random fan on (I think it was just a rando anyway) and had an in-depth discussion about Mike Ashley still waiting in the wings and hoping he can step into save us, barely mentioning Kirchner throughout the whole thing. It was *really* weird.

He's right to be cautious with MM still pulling the strings from the other side.  Until Morris has been bought out of ownership, its thin ice....

[Kathcairns]

6 minutes ago, Stive Pesley said:

Has he? I said a couple of weeks back that my suspicion was that MM was running the clock down to the point where CK either had to walk away or start funding the club until the deal is complete.  Now CK is paying the bills, that surely creates leverage for MM, not the other way around? It's either agree to MMs terms, or walk away and lose the money you're now spending on the club. 

 

 

Why all this negativity, will we be at pride park in 9 months time listening to a small section of fans calling for ck and rooney's heads. We have got to be positive after all of us have gone through.

[RipleyRich]

27 minutes ago, Eatonram said:

The Club already has a lease in place to rent the stadium. Worst case pay a year rent to Mel. Get breathing space to sort it. Why would that scenario be such a disaster. 

Because of the tangled web of loans and guarantees.

CK needs the loan off the books, MM needs the guarantee off his properties, so the Stadium needs to be sold.

[kevinhectoring]

19 minutes ago, duncanjwitham said:

At a guess, Morris can't legally sell the stadium while MSD still have a charge over it, and Morris can't clear the MSD loan until he has the money from the sale of it.  So it's a catch-22 situation unless we get MSD involved to sanction the sale going through before it's cleared.  If there are contracts in place etc, I assume it wouldn't be a major issue.

There's also the slight possibility that the MSD loan isn't being cleared and is being taken on by whoever buys the stadium.

Yes agree both v plausible but seems an odd condition for Q to highlight

[CBRammette]

1 hour ago, angieram said:

Surely people are seeing this the wrong way round?

It's not about us feeling reassured, it's about Chris Kirchner feeling reassured enough that the ground purchase will happen, that has persuaded him to sign up.

He is the one taking all the risks.

We all said that you can't buy a stadium in a few days - heck it's taking months to get a simple house purchase through at the moment - but he must know the money and motivation is there to get the deal completed.

Angie its pointless to try - nothing will persuade certain people of the significance. It was much nicer on here just after midnight!

[Curtains]

8 minutes ago, RoyMac5 said:

We can't Morris is a Club creditor he won't play along without the stadium sale.

Oh ok. 
He’s holding us to ransom. 
Great. 
We will just have to wait and see then 

I’ve gone from thinking MM was ok when I saw him singing with fans in pub at Brentford not me to this 

 

[Curtains]

1 minute ago, CBRammette said:

Angie its pointless to try - nothing will persuade certain people of the significance. It was much nicer on here just after midnight!

I agree it was good at 6am 

 

[JuanFloEvraTheCocu'sNesta]

24 minutes ago, Biley66 said:

So the parties in Birmingham and Nottingham are cancelled?

Birmingham should be looking a bit closer to home. Might be one hell of a celebration coming up in the Aston area in the not so distant future.

[rynny]

10 minutes ago, Kathcairns said:

Why all this negativity, will we be at pride park in 9 months time listening to a small section of fans calling for ck and rooney's heads. We have got to be positive after all of us have gone through.

9 months? Optimist.

[duncanjwitham]

5 minutes ago, kevinhectoring said:

Yes agree both v plausible but seems an odd condition for Q to highlight

I suspect they're just covering the backsides after being burned so many times. Get everything on the table, and if it does go belly up, at least they can point to them being aware of the issue beforehand and it being out of their control.

[CBRammette]

58 minutes ago, duncanjwitham said:

Ed seems to have taken the "conditional on the stadium sale" bit as meaning that literally nothing has changed since yesterday, it's all still down to whether Morris can be bothered or to sell or not.  Honestly, he seemed a bit baffled as to why everyone was so excited.

And then they had a random fan on (I think it was just a rando anyway) and had an in-depth discussion about Mike Ashley still waiting in the wings and hoping he can step into save us, barely mentioning Kirchner throughout the whole thing. It was *really* weird.

To be fair that just matches many on here. 

[Loughborough Ram]

This a fantastic, positive step and if the only reason for this move is to block Mike Ashley, then it surely shows that CK is not stupid. I will be truly convinced and overjoyed when we get confirmation of either a re signing or a new signing because that will mean that the deal is done regardless of which enigmatic statement we have been handed.

 

One cautionary note is that I'm not really sure what cheques CK has to write before the hopeful completion date of May 31st. We have been told that here is some money remaining so, unless that is not true, the next big money outgoings will be at the end of the month now that the season is finished.

 

Today is a positive day for those that want to embrace it, the others can choose to carry on as they have for the last 2 years. I know what I'm going to do.

 

[CBRammette]

41 minutes ago, inter politics said:

 

He knows absolutely nothing as evidenced yesterday

[RoyMac5]

1 minute ago, CBRammette said:

To be fair that just matches many on here. 

Have you ever bought a house?

Don't celebrate until you get the keys. When we bought this place our mortgage 'fell through' (temporarily, fortunately) on the day of completion! There's a lot to be resolved. #COYR

[Curtains]

1 hour ago, duncanjwitham said:

Ed seems to have taken the "conditional on the stadium sale" bit as meaning that literally nothing has changed since yesterday, it's all still down to whether Morris can be bothered or to sell or not.  Honestly, he seemed a bit baffled as to why everyone was so excited.

And then they had a random fan on (I think it was just a rando anyway) and had an in-depth discussion about Mike Ashley still waiting in the wings and hoping he can step into save us, barely mentioning Kirchner throughout the whole thing. It was *really* weird.

It’s ducking disgraceful 

[Ram-Alf]

34 minutes ago, Gaspode said:

To be fair, I wouldn't tell Ed Dawes that his trousers were on fire, so not having comms from Q for weeks just shows therm in a good light....

 

Remember how Wycombe's owner ran the answer and question session he gave ED on radio Derby a few months back, Dawes letting Couhig dictate the interview...poor imo.