The Administration Thread

[RoyMac5]

3 minutes ago, Tamworthram said:

CK is getting a lot of bad press because most of us, rightly or wrongly, are coming to the conclusion that he hasn’t actually sent the money. As I’ve said before, if he had sent it it would be easy for him to provide evidence to Q thus giving them the comfort to not need to impose the 5pm deadline yesterday.

Just wondering, if you were a creditor and had agreed to CKs 3 year payment deal how confident would you feel that the money would keep coming in?

[PistoldPete]

1 minute ago, RoyMac5 said:

Just wondering, if you were a creditor and had agreed to CKs 3 year payment deal how confident would you feel that the money would keep coming in?

A very good point Roy. As far as I am concerned the Ck deal is dead in the water. Would be happy to be proved wrong. 

[RoyMac5]

1 minute ago, PistoldPete said:

A very good point Roy. As far as I am concerned the Ck deal is dead in the water. Would be happy to be proved wrong. 

But if that was true Q would say so and move on.

What say do the creditors now get in all this mess? Or the EFL, will they question things?

Edited June 11, 2022 by RoyMac5

[Shadowplay]

3 minutes ago, Tamworthram said:

CK is getting a lot of bad press because most of us, rightly or wrongly, are coming to the conclusion that he hasn’t actually sent the money. As I’ve said before, if he had sent it it would be easy for him to provide evidence to Q thus giving them the comfort to not need to impose the 5pm deadline yesterday.

I’m probably being cynical, but I think the 5pm deadline was a means of taking the heat off the admins, makes it look like they are earning their fee. In reality nothing has changed, we are waiting for the funds to clear (which if you believe Nixon he’s seen evidence along with the admins that it has been sent)

[OoooMarkWright]

23 minutes ago, Mostyn6 said:

- why does it matter if CK cannot get further funds into the club after buying it? The club MUST become self sufficient 

- who expects Derby County (under any owner) to be allowed to go on a spending spree? Wake up ffs! We won’t be allowed to! 

- anyone stressing needs to log off until at least Monday night! There’s no way Quantuma work weekends! 
 

- those of you reacting so childishly to CK’s banking woes are probably giving him good reason to back out of the deal. Well done idiots! You’re helping kill the club! 

The club does need to become self sufficient. However many clubs still aren’t. If we did run at a slight loss would CK have the funds to fund that. Who knows? Judging by recent events, I have my doubts. 

[TuffLuff]

10 hours ago, Hanny said:

But Ed Dawes has not been proven correct. The deal hasn't collapsed. If CK's money clears and hits the bank before any of the other supposed bidders puts a credible deal forward. Than that's it...CK owns the club. 

I personally don't give a rip who ends up owning the club. But the only person who has tried to get a deal done and has shown proof of funds, has been CK. If anyone else wants to do that- I'd be delighted! 

I think the word ‘collapse’ is the word that confuses everyone in terms of Ed’s reporting, but I think it was thought about carefully because the deal hasn’t fallen through, it isn’t dead and he’s not pulling out. It’s not over but it has taken considerable damage essentially. 

[RadioactiveWaste]

1 minute ago, Shadowplay said:

I’m probably being cynical, but I think the 5pm deadline was a means of taking the heat off the admins, makes it look like they are earning their fee. In reality nothing has changed, we are waiting for the funds to clear (which if you believe Nixon he’s seen evidence along with the admins that it has been sent)

I also believe to they said 5pm Friday on a "well nothing to happen til Monday" basis. The links won't play itself after all.

[PistoldPete]

3 minutes ago, RoyMac5 said:

But if that was true Q would say so and move on.

What say do the creditors now get in all this mess? Or the EFL, will they question things?

Q are hoping to save their reputations . They haven’t given up on Ck entirely but that doesn’t mean his deal will happen. I very much doubt now that it will. 

[Gaspode]

Just read a report on Twatter that states Ashley wants the club but is refusing to pay any of Q's fees since the point in December when he had a previous deal agreed with them - apparently he slammed their methods in a meeting and the deal broke down.....

[Mostyn6]

6 minutes ago, enachops said:

The club does need to become self sufficient. However many clubs still aren’t. If we did run at a slight loss would CK have the funds to fund that. Who knows? Judging by recent events, I have my doubts. 

Doubts? If he’s tried to put the same amount in (at least) twice and both are snagged then surely he’s got twice the money needed to buy the club! 
 

logic would say he’s got a spare £20m kicking around 

[Mostyn6]

Just now, Gaspode said:

Just read a report on Twatter that states Ashley wants the club but is refusing to pay any of Q's fees since the point in December when he had a previous deal agreed with them - apparently he slammed their methods in a meeting and the deal broke down.....

If this is true, I have a little new found respect for him as a business man. 

[Shadowplay]

In my opinion there are 3 scenarios whereby CK doesn’t get Derby

1. he takes his money off the table (not sure why he would be the time and money invested to date).

2. His money is dodgy (just got to wait and see about that)

3. His bid is matched or bettered (can’t see it, would have happened by now, the clubs value is probably the lowest it’s been in the last 18 months and the price to buy isn’t coming down.

Everything else is just noise (in my opinion)

 

[Mr. P]

Anyone mentioned the speed of Chelsea's takeover yet? It's been a while. 

[Topram]

8 hours ago, DCFC1388 said:

Nixon stating he has see both proof of CK money and also proof of the bank transfer from CK on Mon which I would assume the EFL and Quantuma have seen. If CK has genuinely sent the money I cant see any other interested party getting a bid in & the paperwork etc sorted before this money lands (probably why he is still confident of the deal). If he sent it Mon just gone it could quite possibly land in the escrow account any day now, this Mon coming would be a week from the transfer, a lot of payments in general can take 5-10 working days.

Imagine after all this it turns out he becomes our new owner Jesus 

[G STAR RAM]

31 minutes ago, Unlucky Alf said:

If you believe what Q said as they had a back up plan of sorts and CK is not what we believe to be then why couldn't Q bring others into play, CK was warned that no money by Friday 5pm the doors open to others, Who says Q never jumped on Wed/Thurs? after Dawes broke with his story.

Please don't spout exclusivity when someone appears to be shall we say a little naïve when transferring £21.4million, Have Q had their pants pulled down or are Q in a state of panic.   

Fair comment but if Quantuma have broken the terms of their exclusivity they will have opened themselves to a legal challenge from CK.

Even still, if they had started talking to another party there is no way on Gods green earth that 24 hours would be enough time for their professional advisers to get everything in place for a new owner to be named the following day.

[RoyMac5]

5 minutes ago, Mostyn6 said:

Doubts? If he’s tried to put the same amount in (at least) twice and both are snagged then surely he’s got twice the money needed to buy the club! 
 

logic would say he’s got a spare £20m kicking around 

Where on earth is that from, even Nixon hasn't said that.

[RoyMac5]

3 minutes ago, Shadowplay said:

In my opinion there are 3 scenarios whereby CK doesn’t get Derby

1. he takes his money off the table (not sure why he would be the time and money invested to date).

2. His money is dodgy (just got to wait and see about that)

3. His bid is matched or bettered (can’t see it, would have happened by now, the clubs value is probably the lowest it’s been in the last 18 months and the price to buy isn’t coming down.

Everything else is just noise (in my opinion)

 

Difficult to make a different bid without seeing the books? but how about if someone wanted to go the '25% route'?

[May Contain Nuts]

1 hour ago, w8sey said:

I'm genuinely supprised Rooney hasn't walked yet.  

Hes put up with more than what most managers put up with in an entire career already. It's obvious he has ambitions of being a successful manager and at the moment he hasn't got the tools to enable him to do that. 

For me Q shouldn't be paid for the "work" they have done up until this point. It's been a complete shambles. 

Kirchner now has to be put on the Bamford list for me. 

Let's hope one of the other interested parties can take over ASAP.

The 'work' they've done is to keep the club running on a day to day basis despite the business being left in such a state that.. well a state that it needed administrators called in!

Don't underestimate that job in itself. There's a reason Administrators fees are as high as they are, and there's a reason Administrators don't tend to be at the top of everyone's Christmas Card lists. It's not a job you do to make friends. 

If another interested party comes forward now they benefit from the 'work' that's been done. They know the amount of money they need, there's an agreed (provisional) structure for how and when that money will go to creditors, there's an EFL approved business plan that can be used as a template, any new candidate knows what the budgets are going to look like, what's acceptable to the EFL. 

With a bit of tweaking everything is already in place for someone to stump up the money CK was supposed to pay and the club is theirs.

 

1 hour ago, ramboy63 said:

Yes i think you are correct about Q,lining there own pockets and not doing there jobs properly how can they give exclusivity to someone who had no chance of getting the deal over the line,even if KC comes back to the table now i very much doubt he as anywhere near the funds its going to take to build a team to make us competitive let alone promotion quality

If you believe MA  representative he as already said he would not pay Q crazy fees and this is why he is not sat round the table with them,this could of been done months ago had he of been.MA is not every ones cup of tea for sure but its better than oblivion and may be our only option soon

Pre season training starts two weeks on Monday that will be interesting given the amount of players we have

Up until recently there's been no veritable evidence that CK had no chance of getting the deal over the line. He's surrounded by entirely reputable people who have backed him up every step of the way.

Proof of funds is proof of funds. I doubt the checks made on this by the admins are any different to the checks any other admin would make. 

It's simply a fact that he has or had the money somewhere. That it appears to have gone missing now is a separate matter and I'd agree with people saying that there should have been some sort of 'test run' perfomed much earlier to prove that the money would arrive. It still remains though that there was no legal, no formal reason for anyone involved in the process to think he couldn't pay up - cynicism from supporters doesn't cut it, feelings don't come into it - there needs to be firm evidence presented as a reason not to proceed. 

The crux of the second half if your post is "if you believe MA's representatives".

That'll be a firm no. There's no point discussing MA further at this point except to say if you believe the PR that's coming from the biggest game player of the lot, we'll that's your prerogative. 

If the administrators are in it purely to line their pockets and drag everything out intentionally, why did they even bother go to the EFL with a bidder and the cross claim cram down thing to get a PB in place for January?

I suppose you could accuse them if doing that for show, to make it look like they wanted this all over months ago... but then you're not just calling them incompetent you're literally accusing them of illegal activity. 

If that's the case it will all come out in the wash, but they've been convicted already by Derby fans. 

If their fees are 'crazy' surely someone can prove that they aren't simply in line with what anyone anyone else would charge for the job? Mike Ashley refusing to pay someone their due doesn't make it any less due. 

None of this is to say they haven't made some big mistakes, but some of the stuff that comes out of people's mouths about the administrators while they simultaneously wax verbal about other parties (with their own agenda) and swallow every PR fluff piece designed to make them look like some sort of victim in all of this is... I don't even have the words tbh. 

Edited June 11, 2022 by Coconut's Beard

[Mostyn6]

2 minutes ago, RoyMac5 said:

Where on earth is that from, even Nixon hasn't said that.

Roy, if they hold your money up, they HOLD it, you don’t get it back ? 

so every attempt he’s made, each method, those amounts are currently sitting with the bank(s), either to be released or confiscated! 

[TuffLuff]

26 minutes ago, Tamworthram said:

Sadly, I think he was in the driving seat but has now put the handbrake on and has got out of the car. I really hope I’m wrong provided the debacle over the last 2 weeks is only a blip and not an indicator of how he would operate if he owned the club.

Well yeah he’s taken considerable reputation damage and I said last night we have been shown a few reasons to be alarmed because it appears somewhat sloppy at the minute. But all he needs is for these checks to clear and he’s through. 

To maybe carry on the analogy, I think he’s probably tried to take a shortcut through the estate and hit major roadworks.