The Administration Thread

[Gerry Daly]

Come on Mike, get it sorted 

[RadioactiveWaste]

3 minutes ago, winktheram said:

'ready and willing to transact' is more appropriate. As administrator I don't think they can get out of that one and hang on for CK any longer. Legally obliged and all that. 

Well, does depend on what exactly he is willing to transact as well.

[Ramos]

2 minutes ago, Carl Sagan said:

It's hard to keep up and worrying for people coming on here that there's nothing in the official updates thread since Thursday. Should tweets such as Ashley's solicitor letter expressing interest to buy the club not go into there so people can quickly get up to speed? Thanks.

 

Edit: in case the mods don't know what I'm talking about, I meant this one:

 

CK was in charge of the daily updates I’m afraid. ??

[PistoldPete]

8 minutes ago, Eatonram said:

The key line from Ashley's Lawyers is that they "are not prepared to be a contingency".......Over to you Q.

So he has offered less than other bidders, possibly not enough for us even to keep our League status,  but still wants to be Preferred Bidder? 

[Caerphilly Ram]

6 minutes ago, Scott129 said:

Never thought I'd see Mike Ashley referred to as someone's booty call ?

Quantuma have been out all night, they’ve drank plenty and made persistent moves on their main crush, but things aren’t working out and times are desperate. They’ve sent out the “you still awake” texts to a couple of other potential partners as things look bleak and it’s either that or stagger home alone, crying (liquid) into their kebab (ate)…..

Sorry, it’s a silly analogy, I blame the Covid which has struck me down this week 

Edited June 11, 2022 by Caerphilly Ram

[LeedsCityRam]

1 hour ago, CornwallRam said:

Derby County will never be self-sufficient until the financial gap between the Premier League and the EFL is closed, or we actually get promoted to the Premier League. 

Football is broken and it is beyond the scope of a single club to fix it. 

Respectfully disagree. It is possible for Derby to be self-sufficient when you compare our revenue to that of most of the EFL - we would be able to self fund decent wages & occasional transfers whilst rivals are having to get into debt to try and match us. Yes, it would probably mean selling young players at the optimal time to move the club along as a whole but it is certainly possible.

Luton have managed it, finished top 6 this season & they get a fraction of our crowds/revenue;

https://footballeconomyv2.blogspot.com/2021/05/luton-town-in-profit.html

We wouldn't be able to compete with the clubs funded by parachute payments but that was the case anyway, whether self-sufficient or with an owner throwing money around. 

 

Edited June 11, 2022 by LeedsCityRam

[Eatonram]

2 minutes ago, PistoldPete said:

So he has offered less than other bidders, possibly not enough for us even to keep our League status,  but still wants to be Preferred Bidder? 

Do you know what his bid is? I'm sure there is a chance of a -15 but doubtful he would want to own a club with an empty stadium, no TV coverage in the 9th tier do you?

[PistoldPete]

24 minutes ago, TexasRam said:

That’s stupid, why can he duck off? He’s putting a rocket under the Admins and MM and about time 

He has said he doesn't want to be a contingency. But if he hasn't offered the best price that is why he is not the preferred bidder. He is probably not second or even third choice.

[whiteroseram]

I wonder if, IF MAsh does become the likely next owner, if he might prefer Clowes still buying the ground? 

We know he wants a bargain and a sizable profit, this way it'd be a much smaller outlay, and he's shown at Newcastle he has no real interest maintaining those assets, it's the club he wants to flip

Might even be tempted to fork out a little more to hit that 35% over a few year if he's not paying for the ground, if the rent is small enough and if he can cut Q's fees. Probably not, but the - 15 points surely just adds an extra year until he can get the club to a level where he can flip for a profit 

[angieram]

6 minutes ago, Carl Sagan said:

It's hard to keep up and worrying for people coming on here that there's nothing in the official updates thread since Thursday. Should tweets such as Ashley's solicitor letter expressing interest to buy the club not go into there so people can quickly get up to speed? Thanks.

 

Edit: in case the mods don't know what I'm talking about, I meant this one:

 

I agree in principle,  but it's hard for us to simultaneously find the actual news among the drivel on here, mod the insults and libellous posts and post on the updates thread.

From what I can see, most of Dorsett's, Percy's and Nixon's tweets have been speculative at best. That Sky are running this as a major news story is appalling journalism, imo, and if anyone wondered before why Quantuma were reluctant to engage with Ashley, they surely aren't now, if this is the way he does business. Looks to me like he is trying to bully his way into ownership.

[CornwallRam]

33 minutes ago, GenBr said:

Derby County could easily become self sufficient and i'm not sure why you think it has anything to do with the premier league?

20 blokes from the pub can be our first team if we wanted to. It would be very easy for us to have a wage bill within our means and it doesnt mean we have to be totally unsuccesful either as Luton have shown.

I really don't understand why so many on here are stuck in the Mel Morris mindset which dictates piddling money away to be the only viable business model

I disagree with you.

It has everything to do with the Premier League - every sizable club outside the Premier League is trying to get into it because the funding is so good and winning games is supposed to be the aim. Parachute payments instantly give several clubs an advantage in the Championship, so ambitious non-parachute clubs are forced to pay unsustainable wages to get a competitive squad. This inflationary trend then trickles down the table and even down the divisions. Unless they have a lucky windfall like selling a player for £20m, every Championship club makes a loss without parachute payments - and most of the latter still do. 

Clubs like Burton and Peterborough who try to run a sustainable wage bill in the division get relegated -  not always instantly, but within a couple of seasons.

20 blokes form the pub are not going to convince 20,000 supporters to part with £20+ a game. They are not going to sell enough pies or shirts to make the outsourced contracts work. They are also not going to get any prize money from cup runs or get Sky to cover their games. What would happen is that the clubs turnover would shrink to a tiny fraction of it's current level - we couldn't afford the facilities that we have - that is not sustainability.

What have Luton shown? They haven't been promoted and haven't yet published the accounts for last season. I seem to remember little Bournemouth being held up as a sustainable model - then it was revealed that the lost £38.3m

The problem with Mel Morris's regime was not that he put money - it was what he spent it on and the fact that he stopped putting money in.

Belief in sustainability in the Championship is delusional and goes against all evidence.

League 1 could be a little different for a club of Derby's size. Although our overheads are high, our turnover should be towards the top end of the division. With luck and brilliant management we could get promoted whilst breaking even, but that only propels us into the most unsustainable division in the world.

 

[I know nuffin]

18 minutes ago, nottingram said:

Maybe that is the case, maybe not. But things can and should be reported in a certain way. Until 5pm yesterday Kirchner had exclusivity and I would imagine some legal rights if Quantuma were briefing Ashley / Appleby / Morgan / Joe Bloggs about making a bid. 5pm hits and they notify Ashley and whoever else that the process is back open.

The administrators not engaging with him until then was not news! Him having a strop about being second choice is not news, that is up to him to get over. The only issue is whether they chose the right bid in the first place and how stringent their process was to select that bid. Ashley having £28m ready to go is all well and good but is a crap deal for the creditors if he wants the stadium, as I assume he would. Maybe the administrators should have tried to negotiate further with him around that but he hardly seems the negotiating type.

Let's see 28 million, 23 ish for stadium, 2 for admins, 3 for all creditors including HMRC. Think that is a goer. No wonder admin don't want to talk to him

[PistoldPete]

1 minute ago, Eatonram said:

Do you know what his bid is? I'm sure there is a chance of a -15 but doubtful he would want to own a club with an empty stadium, no TV coverage in the 9th tier do you?

Ed Dawes mentioned £28 m. The letter seems to confirm the offer wil include the stadium, which is £22m to £24m asking price to cover the secured MSD loan. So leaves nothing for the unsecured  creditors of the club really.

Do you really think Quantuma would not have picked Ashley if he had offered enough?

[Ramos]

Just now, I know nuffin said:

Let's see 28 million, 23 ish for stadium, 2 for admins, 3 for all creditors including HMRC. Think that is a goer. No wonder admin don't want to talk to him

I don’t think that will be the make up of the offer. I imagine at this point anyone will be happy to lease the stadium if there’s a deal there for the stadium to be sorted by a third party. 

[PistoldPete]

4 minutes ago, angieram said:

I agree in principle,  but it's hard for us to simultaneously find the actual news among the drivel on here, mod the insults and libellous posts and post on the updates thread.

From what I can see, most of Dorsett's, Percy's and Nixon's tweets have been speculative at best. That Sky are running this as a major news story is appalling journalism, imo, and if anyone wondered before why Quantuma were reluctant to engage with Ashley, they surely aren't now, if this is the way he does business. Looks to me like he is trying to bully his way into ownership.

Exactly angie, total lack of class from Ashley. I can't believe mainstream media journos cannot see they are being played and as you say Sky in particular.

[Ramos]

1 minute ago, PistoldPete said:

Ed Dawes mentioned £28 m. The letter seems to confirm the offer wil include the stadium, which is £22m to £24m asking price to cover the secured MSD loan. So leaves nothing for the unsecured  creditors of the club really.

Do you really think Quantuma would not have picked Ashley if he had offered enough?

Does it? If you mean that by the line ‘clubs business and assets’ the stadium is not an asset of the club as it’s not owned by the club. 

[PistoldPete]

2 minutes ago, I know nuffin said:

Let's see 28 million, 23 ish for stadium, 2 for admins, 3 for all creditors including HMRC. Think that is a goer. No wonder admin don't want to talk to him

I think he wil try and get Morris to take a haircut... someone needs to tell him Morris is bald. And Quantuma get nothing. That's probably his plan, I would guess.  

[Nuwtfly]

Just starting to get a feeling that this is going to end with us being bought by Mike Ashley at the 11th hour. 

Probably starting the season with Darren Wassall as manager, too. 

[Foreveram]

1 hour ago, Unlucky Alf said:

It is 6 30min episodes concerning the dark side of Russia...an excellent watch imo?

And yet you can buy a football club from one of them within a few weeks ??‍♂️

[PistoldPete]

3 minutes ago, Ramos said:

Does it? If you mean that by the line ‘clubs business and assets’ the stadium is not an asset of the club as it’s not owned by the club. 

He mentioned getting undertakings from Morris. I would assume that is to do with the stadium.