The Administration Thread

[kevinhectoring]

12 minutes ago, RadioactiveWaste said:

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"

I’d thought CK’s funding would be by loan to Q. Or that he’d put a cash deposit with MSD and they would lend. 

[Animal is a Ram]

2 weeks to sort the ground.

Your move, Mel. Take what's on offer, and don't darken our doors again.

[RadioactiveWaste]

1 minute ago, kevinhectoring said:

I’d thought CK’s funding would be by loan to Q. Or that he’d put a cash deposit with MSD and they would lend. 

But it's ultimately cK who pays it at his risk *I think*

[Curtains]

Amanda Salloway

“There has been a tremendous amount of discussions, meetings and correspondence, but there is no doubt that the part played by the fans, in joining the march to the Birmingham City game, voicing their support on social media and turning out to the games in such amazing - and vocal - support both home and away," Mrs Solloway said in a statement. "Their passion and their refusal to give up has been extraordinary and even though there are still some hurdles to be crossed, I hope that they can breathe a huge sigh of relief today and look to the future of Derby County Football Club.

 

 

 

“It has been a pleasure to spend time with Chris. And he has paid tribute to the passion of the Derby fans - he is ( no doubt what the club means to the people in Derby and it's one of the reasons he was so keen to invest. "We are so pleased that this deal, which Team Derby and I have been working on for months, has now gone over the line. Finally, we have something to really celebrate!"

Edited May 17, 2022 by Curtains
Added

[Ram-Alf]

27 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.

It's another step forward in the process, Good news for sure, Still a couple of hurdles and hoops to jump through but more confident today than I was yesterday ?

[Animal is a Ram]

Suspect that, should he not complete, CKs funding would make him a creditor, and he'd get whatever offer would come from MA/A N Other (probably not the 35% / 3 years CK is offering).

[Wolfie20]

I see the doom-mongers are still scuttling around. The first bit of confirmed progress we've had in months yet they just can't resist putting in their pessimistic comments - you do have to wonder if everything else in their lives is surrounded in negativity.

Most fans who have endured the last couple of years will probably agree that all is not now cut and dried but let's enjoy the fact that at last there is some light at the end of this dark tunnel and it doesn't automatically mean there's a train coming full pelt towards us.

Today is a good day, we've not had many of them recently so for pity sake enjoy it!

[jimtastic56]

15 minutes ago, RoyMac5 said:

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

Keep everything crossed till the end of the month.?

[SirBrian]

For God's sake all you doom and gloom merchants and know alls give it a break, surley CK is not clueless and knows that the stadium will not be an issue or he would have walked away, not willingly take over the running of Derby County and paying the bills.

Smile and be happy, think positive we have a great owner who loves sport and we also have a great manager who loves the club, it takes more muscles to frown than too smile, happy days are here again!!!

[Ambitious]

34 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. 

Maybe, but he's not paying the bills until next week and he's not liable for any of them due to the conditions of the exchanging of contracts. What he's managed to do, is prolong anyone else from coming to the table, whilst the money in the club runs out. It puts us in a really tight spot if Mel continues to play hardball. 

The leverage, in this case, is that CK has isolated him as the only really viable option and has almost painted Mel (and others) into a corner. 

We will know more next week, of course, by the actions the club takes. I'm still not 100% convinced we will be able to offer new contracts until the takeover is complete and I would imagine we will still be under EFL restrictions with regards to transfers. The running costs at the moment, essentially are the players wages at the end of the month. In all honesty, at which time, CK could walk away without paying a dime. 

[CBRammette]

6 minutes ago, RoyMac5 said:

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

Yes a few thanks. And each time have been ecstatic to exchange contracts especially on this crumbling old pile which took forever due to awkward buyer of our last property, previous owners at war, odd deeds with local landowner covenants, damp, potential subsidence, flood plain, dangerous electrics, woodworm, no lintels and every penny we had and more but knew it would be our forever home. a bit like Derby.

Being excited re major progress not the same as celebrating prematurely

[kevinhectoring]

10 minutes ago, RadioactiveWaste said:

But it's ultimately cK who pays it at his risk *I think*

Yes but until the deal closes he will have an eye to where he would rank if something unmentionable were to occur. 

[Norman]

Obviously this is good news. The stadium was always going to take longer and this gives whoever it is room to breathe to sort funding/complete the sale. 

Something that I find interesting is.... There were no leaks from our end last night about this update. None. And these were obviously private contractual talks between the admins and CK. No need for the EFL to have been involved in those talks. I'm guessing the statement timing was so early here because it was still yet to hit midnight in Texas. 

Which means only one thing - imo it shows the leaks have been coming from the EFL all along. Which is disgusting. 

I bet Wayne already knows that, though - what with being married to Wagatha Christie. 

Edited May 17, 2022 by Norman

[RoyMac5]

 

[Ram-Alf]

3 minutes ago, CBRammette said:

Yes a few thanks. And each time have been ecstatic to exchange contracts especially on this crumbling old pile which took forever due to awkward buyer of our last property, previous owners at war, odd deeds with local landowner covenants, damp, potential subsidence, flood plain, dangerous electrics, woodworm, no lintels and every penny we had and more but knew it would be our forever home. a bit like Derby.

Being excited re major progress not the same as celebrating prematurely

I withdrew my offer when on my 2nd visit I noticed the door hinges were loose, Surprised you bought it CB

 

 

[derby8]

15 minutes ago, SirBrian said:

For God's sake all you doom and gloom merchants and know alls give it a break, surley CK is not clueless and knows that the stadium will not be an issue or he would have walked away, not willingly take over the running of Derby County and paying the bills.

Smile and be happy, think positive we have a great owner who loves sport and we also have a great manager who loves the club, it takes more muscles to frown than too smile, happy days are here again!!!

Agree, seems a capable business-man if not a billionaire. He'll prob try and run DC as a sustainable club and aim to work up the Leagues. Should get out of L1 in a year or perhaps 2. Championship could take some time, it will be more down to management than loads of money.

Perhaps later in the summer ck could set out the financial picture in a way we can all understand.

Edited May 17, 2022 by derby8

[CBRammette]

7 minutes ago, Norman said:

Obviously this is good news. The stadium was always going to take longer and this gives whoever it is room to breathe to sort funding/complete the sale. 

Something that I find interesting is.... There were no leaks from our end last night about this update. None. And these were obviously private contractual talks between the admins and CK. No need for the EFL to have been involved in those talks. I'm guessing the statement timing was so early here because it was still yet to hit midnight in Texas. 

Which means only one thing - imo it shows the leaks have been coming from the EFL all along. Which is disgusting. 

I bet Wayne already knows that, though - what with being married to Wagatha Christie. 

No you are wrong it isnt good news at all! It is terrible! You cannot post such optimism ??? 

[CBRammette]

6 minutes ago, Unlucky Alf said:

I withdrew my offer when on my 2nd visit I noticed the door hinges were loose, Surprised you bought it CB

 

 

Not too different at first! Love at first sight though and a view to die for

[CBRammette]

11 minutes ago, RoyMac5 said:

 

Oh no thats terrible news again

[KBB]

If things are moving forward grt gary cook involved in the day to day of the club from the vey first moment he can start. First priority for me is talking to out of contract players and even if we can't officially stick a contract infront of them, let it be known that the second we can there will be long term deals for them to sign. Curtis, alsop and the young lads a priority.