The Administration Thread

[jono]

Just now, Hanny said:

I don’t quite understand your position here. 
 

I’m saying the contracts signed by all parties have set the floor. Because it’s all agreed upon. So, yes, the floor has been ostensibly set because all parties have agreed. 
 

The floor is not set when the funds clear. When the funds clear- CK owns the club. It’s over- no discussions or offers can be made. Done. 

Oh yes … but the funds haven’t cleared and his exclusivity has ended. So admins are open to other bids below the “ostensible” floor. It’s done … but only if the funds clear and if no last minute bid arrives that the creditors snatch at because they have lost faith in the CK bid .. perhaps you can see my position now ? .. there is an only when and an if before we get to your done.

Hey, like most of us on here we are hanging on and CK seems to be the one that will avoid the -15 but just remember .. we have had bank holidays, money laundering checks .. is that it ? Or is there another reason/hiccup ? .. Neither of us knows and if there is a floor it has holes in it. 

[jono]

4 minutes ago, Boycie said:

1960’s? I was still in Baghdad me.

I knew I knew you. Always hanging around outside the pub shouting “open sesame” 

[uttoxram75]

12 minutes ago, jono said:

We living in the 1960’s now … so you’ll have to stand outside Rumbelowes and look for the ticker tape on the TV displays 

 

8 minutes ago, Boycie said:

1960’s? I was still in Baghdad me.

Baghdad my arse, more like man at C&A.

[G STAR RAM]

6 hours ago, alexxxxx said:

I think the EFL have been spooked by the rumours/speculation going around that Quantuma are not talking to Ashley, or being unresponsive to other bidders etc.

You have to read through the lines here.. EFL have already said they're going to start approved lists for administrators.. they are already very distrustful of Mel Morris.. Mel Morris has a huge grip on the club as probably it's largest creditor. I guess they want to know whether Quantuma are under his thumb.

I do think it is a bit weird that the EFLs rules can have so much influence on the insolvency process.

Why do people keep saying this?

DCFC do not owe MM a single penny.

[Hanny]

14 minutes ago, jono said:

Oh yes … but the funds haven’t cleared and his exclusivity has ended. So admins are open to other bids below the “ostensible” floor. It’s done … but only if the funds clear and if no last minute bid arrives that the creditors snatch at because they have lost faith in the CK bid .. perhaps you can see my position now ? .. there is an only when and an if before we get to your done.

Hey, like most of us on here we are hanging on and CK seems to be the one that will avoid the -15 but just remember .. we have had bank holidays, money laundering checks .. is that it ? Or is there another reason/hiccup ? .. Neither of us knows and if there is a floor it has holes in it. 

No, I see your position fairly clear. You are frustrated and worried the club will go under. So you are frantically grasping at whatever PR spins you see and try to connect some conspiracy theory dots. 
 

I am trying to focus on logical and legal contract practices…as that’s all that matters to the folks who are signing these deals.
 

Yes, we all want to see a deal finalized. And I believe we will. So to sit an argue semantic points of the word ostensibly- seems a wee bit silly. 
 

I hope you find some calm in this storm we are all in. 

[kevinhectoring]

31 minutes ago, Hanny said:

I’m saying the contracts signed by all parties have set the floor. Because it’s all agreed upon. So, yes, the floor has been ostensibly set because all parties have agreed. 

Problem is, costs are escalating all the time - CK’s deal was done some time ago.  And his deal rests on a particular lease of the stadium that suits his bp and may not suit others. And Rooney supports CK and will have agreed terms with him. And Rooney might not be on Mike Ashley’s Christmas card list. etcetc. So I don’t think it’s as simple as you say 

a deal with another buyer might be apples and pears with CK’s deal 

Edited June 12, 2022 by kevinhectoring

[Hanny]

2 minutes ago, kevinhectoring said:

Problem is, costs are escalating all the time - CK’s deal was done some time ago.  And his deal rests on a particular lease of the stadium that suits his bp and may not suit others. And Rooney supports CK and will have agreed terms with him. And Rooney might not be on Mike Ashley’s Christmas card list. etcetc. So I don’t think it’s as simple as you say 

I agree it would get complicated if CKs money doesn’t clear.  But I am not really concerned about that. Since it’s been stated he has already made moves to bring more money in that matches what is being held up. So in case his funds are still held up over the next few days, he has the backup funds to use instead. 
 

But there is no lowballing to be had here. Minimums are already set to be within the guidelines of the EFL and creditors. As you have said the bills are more the price goes up. Parties can all point to what they have agreed upon as a starting point (or floor). 
 

The only bluster that is being made here are by the parties on the outside looking in. And that makes sense and is quite telling. 

[kevinhectoring]

12 minutes ago, G STAR RAM said:

I do think it is a bit weird that the EFLs rules can have so much influence on the insolvency process.

Good way of putting it. The EFl rules are completely distinct from the insolvency rules but they influence the behaviour of the buyers and admins at every turn. But I guess it’s no different in a number of other regulated sectors 

[kevinhectoring]

Just now, Hanny said:

But there is no lowballing to be had here

Agree when you say it’s still more than possible CK will sort out whatever the weird banking issue is. Hope he does 
 

But if CK falls away and if there are no other generous bidders,  don’t you think Ashley will hit q with a ball that is so low it’s subterranean 

[Eric the half a ram]

50 minutes ago, Boycie said:

1960’s? I was still in Baghdad me.

Baghdad, or Dad's bag?? ??

[Hanny]

7 minutes ago, kevinhectoring said:

Agree when you say it’s still more than possible CK will sort out whatever the weird banking issue is. Hope he does 
 

But if CK falls away and if there are no other generous bidders,  don’t you think Ashley will hit q with a ball that is so low it’s subterranean 

Ha. I like that. ?. 
 

I suppose, yes. If all of a sudden CK didn’t complete the deal (although I imagine at this point he would likely find him self in some expensive legal trouble if he didn’t), then yes. Anyone could technically offer what they want. Doesn’t have to be accepted.  
 

But to me the most likely scenario here: rich egotist (MA) is realizing he is about to lose out on buying a fantastic asset, that he thought he would be able to low ball for. So now he throws his toys out the pram and gets his PR team doing the turns. 
 

I’d just like to see a deal get done. And CK is in the strongest position to do that right now. 

[RadioactiveWaste]

6 minutes ago, kevinhectoring said:

Agree when you say it’s still more than possible CK will sort out whatever the weird banking issue is. Hope he does 
 

But if CK falls away and if there are no other generous bidders,  don’t you think Ashley will hit q with a ball that is so low it’s subterranean 

Indeed.

In fact, if Team Mike Ashey wanted to engineer a situation where they were the only game in town expressly to ensure his low ball had to be accepted in the face of liquidation it would be entirly understandable and would neccessitate putting pressure on Quantuma by whatever means available to kick CK to the kurb sister.

Presence of other parties could be a complicating factor for such manouvers, so we've already had stories (possibly true) that "well the other bids can't eaily be revived"

There are now very serious games being played, and I'm not going to be foolish enough to suggest the Ashley camp are the only ones playing them, as it's obvious Q, the EFL and CK all are as well. All could've been avoided if CK actually had the money he said he had, if he'd paid for the club, all of this would be a non-issue.

[CBX1985]

5 minutes ago, kevinhectoring said:

Agree when you say it’s still more than possible CK will sort out whatever the weird banking issue is. Hope he does 
 

But if CK falls away and if there are no other generous bidders,  don’t you think Ashley will hit q with a ball that is so low it’s subterranean 

Indeed.  And if there is nothing else going higher, and the axe is going to fall, they will accept - as you have the option of something you would otherwise not have had or a total loss.  Bury was different in that too few people cared to even low ball.  The point you need to hit is high enough that it is substantial but low enough to be derisory.  

There is not a dichotomy of deal  or no deal.  Everything can move, but if CK competes it won't.  If he does not, everything - and I mean everything - is on the table.  MA is only ever going to be a last resort, as he will be brutal - take it or leave it, 10p if he's generous in the pound paid immediately or nothing.

 

[Comrade 86]

1 hour ago, Red Ram said:

Agree 100%. Blaming the EFL is nothing less than falling for Mel Morris's propoganda. The accusations he made against the EFL were just a smokescreen put up to try and deflect the blame from himself. It amazes me that so many fans fell for it but I guess people often try and find a scapegoat when things go wrong...

'Propaganda' - you're welcome.

More to the point, I think you'll also find that nigh on everyone accepts MM's role in bringing us to this juncture. I think you'll also find that most are capable of viewing what's happened in more than the purely binary terms you yourself apply. It's not simply Mel or the EFL. Morris, the EFL, Gibson and Couhig have all played a part in this imperfect storm, whether you're able to see it or not. 

[B4ev6is]

4 minutes ago, CBX1985 said:

Indeed.  And if there is nothing else going higher, and the axe is going to fall, they will accept - as you have the option of something you would otherwise not have had or a total loss.  Bury was different in that too few people cared to even low ball.  The point you need to hit is high enough that it is substantial but low enough to be derisory.  

There is not a dichotomy of deal  or no deal.  Everything can move, but if CK competes it won't.  If he does not, everything - and I mean everything - is on the table.  MA is only ever going to be a last resort, as he will be brutal - take it or leave it, 10p if he's generous in the pound paid immediately or nothing.

 

I think you will find ashley will be force to pay 25p in the or 35p in the pound.

[Ram1988]

It's a shame that Mike Ashley will most likely = a minus 15. At least we will have a club though, which is the main thing right now...

[CBX1985]

4 minutes ago, B4ev6is said:

I think you will find ashley will be force to pay 25p in the or 35p in the pound.

Doubt it.  He will accept points deduction, and decimate creditors (except Q and HMRC).

All about pushing to the wire.  The club has everything to lose, but so do the creditors.  MA has nothing to lose, so him wanting us a little works in our favour from a negotiating position - he can be nonchalant, whilst they will want paying.

[RadioactiveWaste]

DCFC 21/22 administration villain league table perhaps?

1. Mel Morris

2. Stephen Pearce

--------------------

3. Quantuma

4. Gibson

5. EFL

6. Coughing

-------------------

7. Ed Dawes

8. Chris Kirchner

9. Mike Ashley

10. Alan Nixon

11. Andy Appleby

12. Los Binnie Homanos

Obviously, it's a real shame for Ed losing out on a play off spot, and CK might still have some game in hand to move up into the top six.

 

[Ram1988]

8 minutes ago, RadioactiveWaste said:

DCFC 21/22 administration villain league table perhaps?

1. Mel Morris

2. Stephen Pearce

--------------------

3. Quantuma

4. Gibson

5. EFL

6. Coughing

-------------------

7. Ed Dawes

8. Chris Kirchner

9. Mike Ashley

10. Alan Nixon

11. Andy Appleby

12. Los Binnie Homanos

Obviously, it's a real shame for Ed losing out on a play off spot, and CK might still have some game in hand to move up into the top six.

 

Not sure how Ed Dawes can be on that list? 

MM obviously has to top the list 

[B4ev6is]

1 minute ago, CBX1985 said:

Doubt it.  He will accept points deduction, and decimate creditors (except Q and HMRC).

All about pushing to the wire.  The club has everything to lose, but so do the creditors.  MA has nothing to lose, so him wanting us a little works in our favour from a negotiating position - he can be nonchalant, whilst they will want paying.

If he does not they wont even look at him so I think he will have little choice but for Q I think efl will say to them ashley has every right to say I want to pay you less.