The Administration Thread

[S8TY]

CK has already mentioned the 31 was significant in the fact the EFL have there own deadlines etc but I don't hear the EFL being concerned....I 100 per cent think this will get done

This has always been a  convoluted jigsaw and its still not sorted and this week was not the best or easiest to move money because of the bank holidays etc ...but how is it a major drama ??

The time to worry if is this still isn't completed in a weeks time but it will go ahead and CK has said to celebrate so chill out and do not worry

[Tamworthram]

27 minutes ago, Ramitupper said:

Yep. Always goes to the lawyers usually weeks ahead of completion. 

I’ve bought 4 different houses in my lifetime. Whilst the last one was something like 15 years ago and my memory isn’t as good as it used to be, I’m fairly confident this is not the case. 

[Crewton]

There's more parties involved in this transaction than just a Buyer and a Seller, and the purchase of the club is dependent on the purchase of the stadium because of the MSD charge across all club assets. Unless he's also buying the stadium too, Kirchner is only in control of one element. The hiccups could quite feasibly have been caused by one of the other parties and the BHs have made those harder to resolve. 

I suspect Kirchner is being diplomatic so as not to risk blowing the whole transaction. There's nothing at this stage that fans can do to expedite matters, so all the venting of frustrations on Twitter is doing as adding to the stress and anxiety. 

I've got a Polypin and I intend to immerse myself in that today. 

[kevinhectoring]

24 minutes ago, eccles the ram said:

As per Eweram I don't buy into this latest 'delay'. Someone or something still isn't squaring up and it is all conjecture as to what it might be.

One factor may be that the parties involved in closing don’t trust each other. So closing won’t be confirmed until everyone has their cash in their own bank account. This means a whole series of interdependent payments need to be made (some cross border). Banks miss payments in, banking systems get clogged up before bank holidays, errors are made  ....   
 

I just hope for her sake HRH makes it through the weekend I think she’d be devastated not to see our deal close 

Edited June 2, 2022 by kevinhectoring

[Gritstone Ram]

I read some replies to CK on Twitter and I feel embarrassed for some folk. I’m not sure if know which way round to sit on the toilet, others seem to have a sense of entitlement and believe that CK should have done the deal and bought the club and he doesn’t know what he’s doing. Some still don’t think it’s going to happen. A few are still asking if he’s buying the ground. I really think people need to be patient.

[Gritstone Ram]

1 minute ago, kevinhectoring said:

One factor may be that the parties involved in closing don’t trust each other. So closing won’t be confirmed until everyone has their cash in their own bank account. This means a whole series of interdependent payments need to be made (some cross border). Banks miss payments in, banking systems get clogged up before bank holidays, errors are made  ....   
 

I just hope for her sake HRH makes it through the weekend I think she’d be devastated not to see our deal close 

Yeah and it could mean another BH next week if she doesn’t make it.

[Ram-Alf]

7 minutes ago, 86 Hair Islands said:

So it will be him being the 'nob' when the Twatterati take him to task every time we lose a game? LMFAO

Let's have it right; after the amount of ignorant BS that's come his way on social media since November last year, I'm amazed he's not just told us to f*** off and save our own club. But hey, by all means keep calling him names while he spends the next three years settling Mel's bills and keeping the club afloat. After all, there's nothing remotely knobbish about that stance, is there? ?

I'll doff my cap to CK, He's working his way up the rungs of the ladder where public opinion is concerned, As you say he's paying someone else's debt, I still don't get it ?‍♀️why, He doesn't own the stadium...going to lease it, Moor Farm...lease, He laying out 10s of 1000s of £s now to pay wages, He has no connection to DCFC prior to buying the club...I am having difficulty understanding WHY!, Is he the fairy godfather that's looking for a Knighthood or maybe when his time comes he'll have a good seat next to the almighty.

There'll be no criticism from me, There's far more "Nobs" out there that deserve the vitriol being chucked around, MM, EFL, Gibson, Couhig et al.

He who waits for the coming laughs last the longest...says UnluckyAlf ? 

[Crewton]

7 minutes ago, 24Charlie said:

Another day without Kirchner is a day closer to Ashley.

Ashley has had 9 months to get his act together. He has the resources to have done a deal before Christmas and give us a fighting chance of staying up. He chose not to. Instead, he's been preoccupied adding yet more strands to his retail empire. That will always be his priority, not DCFC. 

I once thought he was our best hope of salvation, but all he's done is flirt, and not even in person. 

A day closer to Ashley is a day closer to starting next season on - 15 at best. No thanks. 

[Phuket Ram]

11 minutes ago, Tamworthram said:

I’ve bought 4 different houses in my lifetime. Whilst the last one was something like 15 years ago and my memory isn’t as good as it used to be, I’m fairly confident this is not the case. 

Cash is paid to the lawyer or conveyancer’s client account after exchange of contracts, and transferred from there to the seller on completion date. Has always been the case in England. 

[kevinhectoring]

11 minutes ago, Gritstone Ram said:

Yeah and it could mean another BH next week if she doesn’t make it.

Not exactly on topic but there are stories circulating that she is very sick 

[I am Ram]

Woke up this morning, smiling at the rising sun ................ Ahhhh ffs !!!! 

[rammieib]

17 minutes ago, Crewton said:

There's more parties involved in this transaction than just a Buyer and a Seller, and the purchase of the club is dependent on the purchase of the stadium because of the MSD charge across all club assets. Unless he's also buying the stadium too, Kirchner is only in control of one element. The hiccups could quite feasibly have been caused by one of the other parties and the BHs have made those harder to resolve. 

I suspect Kirchner is being diplomatic so as not to risk blowing the whole transaction. There's nothing at this stage that fans can do to expedite matters, so all the venting of frustrations on Twitter is doing as adding to the stress and anxiety. 

I've got a Polypin and I intend to immerse myself in that today. 

Those who understand business will understand (without knowing the details) the true complexity of this transaction and all the different parties involved.

Those who don’t understand just think it’s one bit of paper and it can just be signed and done and dusted.

The guy is quite literally saving us, and all (some) people want to do is abuse him. Probably the same fans who throw seats and throw bottles at opposing fans and so on.

I hope and believe CK is smart enough to see through the idiots and the majority of fans welcome him into our club. 

[IslandExile]

If there was any hint that the deal might collapse, don't you think Nixon, Percy, Dorsset or the Daily Fail would gleefully be publishing it?

Chillax dudes, gonna happen. Be patient.

[Bald Eagle's Barmy Army]

37 minutes ago, 24Charlie said:

Another day without Kirchner is a day closer to Ashley.

I do have issues with Kirchner. I honestly think he has good intentions but he has no clue what he is getting into. He’s already getting abuse from some fans and he’s not even the owner. I also don’t understand the motivation of owning a football club in our position. There is no money in it. In fact it’s a money pit and he seems prepared to chick money away on some kind of dream. He’s adored by many rams on twitter and I’m sure that massages his ego but DCFC is no vanity project and just watch those same fans turning to abusing him if things to pear shaped.

Ashley has been there done it and understands it. I think we need him now. Kirchner is not thick skinned enough. 
He’s a nice guy but the wrong guy. Being to open and accessible if a bad thing. 
 

Also I think he’ll bail so we will never know if he could of been any good.

Jesus wept 

[FlyBritishMidland]

1 hour ago, Ramitupper said:

Yep. Always goes to the lawyers usually weeks ahead of completion. 

So your telling me that you’ve borrowed the money from your mortgage provider and handed over to the solicitor weeks before your due to complete and exchange contracts?  I suppose your mortgage provider is lending you the money in advance out of the kindness of their hearts and won’t insist on any monthly payments until you have completed?  No matter how long that might take?

[FlyBritishMidland]

6 minutes ago, IslandExile said:

If there was any hint that the deal might collapse, don't you think Nixon, Percy, Dorsset or the Daily Fail would gleefully be publishing it?

Chillax dudes, gonna happen. Be patient.

Totally agree.  And the EFL would have issued a statement before now.  The fact that they, and all the journalists, are silent says all is well.

[Jimbo Ram]

One more sleep ?

[Ram-Alf]

30 minutes ago, Ramitupper said:

Cash is paid to the lawyer or conveyancer’s client account after exchange of contracts, and transferred from there to the seller on completion date. Has always been the case in England. 

In some circumstances you're right, I've bought 8 properties, This one I'm in now was cash sitting in the bank, I transferred the money to my Solicitor on exchange.

The funds are released at the completion stage from the bank, when you become a homeowner. Your lender at this stage will release the mortgage money to your solicitor who will pay the seller’s solicitor. Then the seller’s solicitor will hand the title documents over to your solicitor..

Not forgetting if money is transferred at exchange then it's costing the person more in interest while it sits in the Solicitors account, Completion date can change anytime after exchange

https://www.greaterlondonproperties.co.uk/faq/when-does-the-mortgage-lender-release-the-funds/

 

Edited June 2, 2022 by Unlucky Alf

[ariotofmyown]

24 minutes ago, kevinhectoring said:

Not exactly on topic but there are stories circulating that she is very sick 

That is Andrew I think

[Loughborough Ram]

There is no benefit for Chris Kirchner to delay this process so you need to look who does benefit

I'm sure that the only people who saw this bank holiday situation coming were the lawyers, and you can also be pretty sure that they are more than happy to have an extra few million quid sitting in their account for four or five extra days.

I've never seen a lawyer in a hurry because they get paid by the minute. Unfortunately they are the ones who control the pace of these transactions.