The Administration Thread

[Big Trav]

Been told that kirchners bid is ‘75%’ off  and he ‘fully expects’ Mike Ashley to swoop in. Appleby in the running too but funds are the issue there. Ashley’s rumoured bid of 28 mill will not include stadium either so no -15 

[Kernow]

I'm a little confused about the deadline being set for CK to provide "satisfactory evidence that he is in a position to complete" actually means. I'd interpret that as the admins saying he must prove that the money is indeed in transit and that it's a matter of when it clears, not if. If that is what they mean, then what the hell have they been doing? If Kirchner told them that the money was with the anti-money laundering authorities awaiting clearance, and they didn't ask for proof of this, then that's really poor.

[Wolfie20]

2 minutes ago, Cam the Ram said:

I swear with every statement it just leaves more questions unanswered. So once 5pm hits is the Kirchner deal off completely or can he continue to try and get it sorted whilst Quantuma are agreeing deals with other parties? Have Quantuma begun discussions with other interested parties now or is it the 5pm deadline that triggers that?

This is typical BBC Derby. They say CK has been given until 5pm tomorrow to complete the deal to buy the Club but this is not what the Quantuma statement says - he has been given the 5pm deadline to provide "satisfactory evidence" that he is in a position to conclude the deal - not the same thing. If he provides the required level of evidence then a finalised deal may still be days away.

Some media outlets are inept and totally unprofessional.

[Animal is a Ram]

 

[Rammy03]

1 minute ago, Big Trav said:

Been told that kirchners bid is ‘75%’ off  and he ‘fully expects’ Mike Ashley to swoop in. Appleby in the running too but funds are the issue there. Ashley’s rumoured bid of 28 mill will not include stadium either so no -15 

who told you that

[Big Trav]

EFL statement right on queue ?

[Rammy03]

1 minute ago, Wolfie20 said:

This is typical BBC Derby. They say CK has been given until 5pm tomorrow to complete the deal to buy the Club but this is not what the Quantuma statement says - he has been given the 5pm deadline to provide "satisfactory evidence" that he is in a position to conclude the deal - not the same thing. If he provides the required level of evidence then a finalised deal may still be days away.

Some media outlets are inept and totally unprofessional.

Exactly why I was waiting until something official before jumping to conclusions. 

[JoetheRam]

4 minutes ago, Mihangel said:

You're right, perhaps CK should have used his old Derbyshire Building Society junior savings account, or the HSBC super saver account he set up in 2018, 'just in case'

Not saying it's particularly irregular in itself but additional checks for a new account should have been factored into the time frame and all the I's dotted and T's crossed before it got to this point. This can't be the first time they've had to actually complete a sale of a company they're administrating.

[Caerphilly Ram]

3 minutes ago, Animal is a Ram said:

 

But that isn’t what Quantuma’s statement said is it Mr EFL? It’s so hard to work out what the truth is with none of the facts and all the various speculation and slightly contradictory statements throughout the process.

Also the language in the EFL statement seems inappropriately emotive and almost inflammatory to me

Edited June 9, 2022 by Caerphilly Ram

[nottingram]

2 minutes ago, Rammy03 said:

who told you that

Same person who told them Ashley was being named preferred bidder about 4 months ago I imagine

[Ramos]

3 minutes ago, Big Trav said:

Been told that kirchners bid is ‘75%’ off  and he ‘fully expects’ Mike Ashley to swoop in. Appleby in the running too but funds are the issue there. Ashley’s rumoured bid of 28 mill will not include stadium either so no -15 

So I was right, I win, all hail Ramos for life. #toldyou #theydockedme21pointssssss

[inter politics]

**** off EFL

[RadioactiveWaste]

5 minutes ago, Rammy03 said:

So he doesn't have until tomorrow to actually complete it, he just has to give 'satisfactory evidence.' The other parties have been spoken to 'as a contingency.' It's clear that Kirchner is the best bid and I hope it happens.

I read as "funds released by close of play or we do start talking to Ashley" and not "if it's not complete by close of play you can GTF you tyre kicking chancer"

Assuming Ck doesn't get his funds released tomorrow that'd give team Ashley Saturday and Sunday to try to get ahead, I'd think if CK get his funds released on Monday he might still have a chance to close but really it's tomorrow or get off the pot Mr. Kirchner.

I wouldn't be so down about it but for the "remittence has been sent" episode with ol Shakie.

[Ramos]

5 minutes ago, Kernow said:

I'm a little confused about the deadline being set for CK to provide "satisfactory evidence that he is in a position to complete" actually means. I'd interpret that as the admins saying he must prove that the money is indeed in transit and that it's a matter of when it clears, not if. If that is what they mean, then what the hell have they been doing? If Kirchner told them that the money was with the anti-money laundering authorities awaiting clearance, and they didn't ask for proof of this, then that's really poor.

I think they are giving till 5pm tomorrow before they fully open the floor to moving other bids forward. Technically then I assume if he could, he can still keep going. 

[Wolfie20]

My head hurts

[Mihangel]

4 minutes ago, Animal is a Ram said:

 

That's a really weird statement, it's like they've been hacked! So, EFL, your disappointment isn't credible? How odd.

[Ramarena]

[atherstoneram]

2 minutes ago, EtoileSportiveDeDerby said:

This is what MA does, no surpise there, he's going to shaft the creditors, done it for years. To say that Q is not at fault is pushing it a bit far. if the yank buying Chelsea can do a bank xfer for 2.5 bn surely 30 odd mill should not be too tricky.

It is all well and good saying MA is going to shaft the creditors. If,as folk are speculating,we get a 15 point deduction that means the creditors are not going to get anywhere near the required %  to escape a points deduction, the creditors are not forced to accept it,why should they when one bidder has offered 35% over 3 years, they are in a position to say one bidder offered this if the others don't then no deal.

[DCFC1388]

[Kernow]

1 minute ago, Ramos said:

I think they are giving till 5pm tomorrow before they fully open the floor to moving other bids forward. Technically then I assume if he could, he can still keep going. 

But if it's at the stage we've been told it is, CK is literally not in a position to do anything else. We've been told he's sent the money, and he's waiting for that to clear, he doesn't really have any input as to whether that's any further along by 5pm tomorrow or not. I don't even know if this is a possibility, or how long it would take, but his only other feasible option would be to borrow the equivalent money here and then repay it with the cash that's being checked over. I'm going to assume all these clever people behind the deal have explored every option and know a hell of a lot more than me though.