The Administration Thread

[Ian Buxton's Bat]

Nixon tweeting 'big few days ahead' in reply to a query about WR.............doesn't sound like CK money is going to land before tea break this morning, does it?

Bloody hell - don't they know I've got work to do and would like to stop scrolling through this forum and twitter all day long?

[alexxxxx]

9 hours ago, G STAR RAM said:

Why do people keep saying this?

DCFC do not owe MM a single penny.

My mistake, thought he was a creditor through loans who was essentially waiving his right to what he was owed, as without it he'd make no money from the stadium.

 

 

Edited June 13, 2022 by alexxxxx

[kevinhectoring]

8 hours ago, CBX1985 said:

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

No way will Ashley pay creditors 90% (haha)

Edited June 13, 2022 by kevinhectoring

[Mihangel]

3 minutes ago, kevinhectoring said:

No way will Ashley pay creditors 90%

Very smart, cap doffed.

[jono]

6 hours ago, atherstoneram said:

That's true,however the creditors have been offered 35% over 3 years from Kirchner,they may take the opinion they are not prepared to budge on that,if one bidder can offer that then so can somebody else.

If CK’s money doesn’t arrive though - then that opinion doesn’t give them much leverage. “We want 35% because someone else offered it but didn’t deliver” I am sure you do, but my bid is lower, time is short .. then what ? 

I’m not sure “price match” deals are on offer in business failures. A pointer for sure but not written in stone. 

[Mostyn6]

Of course CK's bid is the floor bid. Otherwise he can now renegotiate the deal!

[PistoldPete]

7 minutes ago, G STAR RAM said:

Not sure how you managed to interpret that from the EFL statement?

I would interpret it that EFL do not believe that CK's money will arrive. 

[kevinhectoring]

7 minutes ago, alexxxxx said:

My mistake, thought he was a creditor through loans who was essentially waiving his right to what he was owed, as without it he'd make no money from the stadium.

 

 

You’re not completely wrong - if MDS takes his security deposit, be becomes a creditor of the club.  
 

But it’s not the massive debt we would have if his historic funding had been lent direct to the club 

[jono]

2 minutes ago, Mostyn6 said:

Of course CK's bid is the floor bid. Otherwise he can now renegotiate the deal!

I think we are at cross purposes. CK has exchanged contracts at a certain price. For him it is a floor. But he hasn’t completed the contract, his exclusivity period is over so someone else could offer below his personal floor established by signed contracts. That floor is his and applies to no one else. 

[BramcoteRam84]

Have to say even an optimistic soul like me was extremely pessimistic about the situation on Friday night and probably guilty of being whipped up in the media storm with each party getting its propaganda out there.

As for the EFL statement yesterday, trying to decipher EFL speak is always challenging let alone when hungover from a wedding the night before!! Once I did, through all the bluster and rhetoric I actually think it’s a positive move and puts badly needed pressure on Q who are looking more incompetent by the day.

None of us know what is going to happen. My take for what it’s worth, we won’t be liquidated as local businessmen will step in short term if worse happened. I think CKs money will clear this week and he will take over unless someone matches his deal which surely would mean no points deduction?  Announcement CK via Twitter midnight Friday after another rollercoaster week.

If it is CK though, with what’s happened in recent days and some reports coming to light on how he’s running his own business, he has some questions to answer and while we have no choice, we should remain skeptical.

[jimtastic56]

A problem for CK could be - picking the right time to convert your dollars into pounds. The market is hard to predict. It’s a better excuse than the bank holiday one.If it was to be Mike A who takes control. It looks like a Love/Hate relationship could continue for some time with a lot of Rams fans.

[CBRammette]

1 hour ago, Archied said:

It’s disgusting that people can be treated this way ( I have a small business) but the fault is in a system where a man with the worth of around 500 mill ( even if it’s dropped considerably now ) can run up these debts and walk away , I don’t think it says too much about Ashley that he wants to be saddled with as little as possible of another man’s debts when buying the club and saving it from going under , even if it’s for the motive of building it up to make a long term profit , do you really believe ck or any of the other bidders are not trying to pay creditors as little as they feel they can get away with ?

not one of those bidders is buying the club for the motive that they feel the creditors have been wronged and they want to step in and do the right thing for them, certainly ck is doing the absolute least he can without incurring a points deduction which impacts on his business plan,

the creditors and derby county have been shafted by Morris we should not and can not judge people like Ashley and the others on them not wanting to pay for Morris mess ,anyone buying derby is buying another man’s debts and a business with next to no worth and assets apart from a decent fanbase which gives potential for future if run properly 

 

You are totally on point. Really feel for the unsecured creditors - totally shafted by "one of our own" and all bidders clearing up mess he just walked away from. Does MM still have some type of ambassador role or whatever it was with Council? Hopefully stripped away when dust settles. 

[PistoldPete]

9 hours 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 

CK has "paid" £1.6 m towards player wages, according to Nixon, or at least is on the hook for that sum. We also have an agreement on PPS which would wipe out the MSD loan. So I don't think it would take a very generous bidder for the club now to outbid Ashley if he is still making only low ball offers.  

[Boycie]

13 hours ago, TexasRam said:

Sorry B4 I’ve got a sneaky suspicion the picture isn’t exactly legit 

Fake, you go in wearing a suit, you come out with your tie as a head band.

[Archied]

16 minutes ago, G STAR RAM said:

True, but as part of the deal they can also potentially buy a stadium valued at £80m for somewhere around the £20m mark.

The stadium is a bit of a tricky one as the value is very debatable without a healthy derby county playing in it and it also appears there’s issues around it hence all the probs selling it as a job lot with the club, also seems the model is changing in terms of clubs actually owning they’re grounds being less important to club owners ,

Its  a bloody mess , the main point I’m making is not one buyer is going to pay a penny more to the poor sods Morris has shafted than they feel they can get away with ( that includes derby county ) , if we are honest can we blame them and slur they’re character for that?
im sure there’s lots people can fairly criticise Ashley for but that’s not one of them,

derby county are as much a victim as the poor creditors ,fans calling for derby county to prioritise the creditors above surviving are being unrealistic on so many levels 

[sonofmidnight]

The owners of clubs ought to have the mindset that they are in fact owners and custodians of a club and have the moral and financial duty to leave the club in an equal or better footing when selling. Unfortunately money, greed and the desire for the Premier league has clouded sound judgement. I name no names!

 

[derby8]

Read that creditors 35% over 3 years the minimum to avoid 15 point penalty. What is the creditor bill and what is 35%, can someone remind me.

PP stadium apparently around £20m for freehold.

So what is total required to avoid 15 point penalty to include club plus stadium.

Guess around £40m but would appreciate any answers.

[Jimbo Ram]

4 minutes ago, Archied said:

The stadium is a bit of a tricky one as the value is very debatable without a healthy derby county playing in it and it also appears there’s issues around it hence all the probs selling it as a job lot with the club, also seems the model is changing in terms of clubs actually owning they’re grounds being less important to club owners ,

Its  a bloody mess , the main point I’m making is not one buyer is going to pay a penny more to the poor sods Morris has shafted than they feel they can get away with ( that includes derby county ) , if we are honest can we blame them and slur they’re character for that?
im sure there’s lots people can fairly criticise Ashley for but that’s not one of them,

derby county are as much a victim as the poor creditors ,fans calling for derby county to prioritise the creditors above surviving are being unrealistic on so many levels 

No, that's not what I have said, read my posts again. My point is that Ashley is looking to pay the creditors a lot less than CK has said he will.......

[Norman]

1 minute ago, derby8 said:

Read that creditors 35% over 3 years the minimum to avoid 15 point penalty. What is the creditor bill and what is 35%, can someone remind me. 

Creditor bill is the bill for the creditors. 

35% is 65% less than 100%. 

Hope this helps. 

[DerbyRevolution]

15 minutes ago, jimtastic56 said:

A problem for CK could be - picking the right time to convert your dollars into pounds. The market is hard to predict. It’s a better excuse than the bank holiday one.If it was to be Mike A who takes control. It looks like a Love/Hate relationship could continue for some time with a lot of Rams fans.

because Mike Ashley has done what to Derby fans?