The Administration Thread

[PistoldPete]

14 minutes ago, Coconut's Beard said:

'Without any improper external influences'

...but RamsTrust, you've based your concerns about the administration process almost entirely on improper external influences!

How can Ramstrust welcome EFL involvement and then say negotiations should be without improper external influences? That’s a total contradiction. 

[PistoldPete]

4 minutes ago, kevinhectoring said:

Q has indeed had a lot to deal with and for the most part they have demonstrated  they are not up to the job. 

your views about EFL’s motives are in my view a figment of your perspective 

And you are always right Kevin. And everyone always agrees with you. 

[DerbyRevolution]

23 minutes ago, BramcoteRam84 said:

It comes back to the same thing, if we want to be competitive next season we need CKs deal to go through, if it doesn’t it’s going to be a struggle definitely next season and things could get worse before they get better. 
 

It’s looking increasingly like it’s CK or MA. 

agreed. 

CK may be better next season but who knows how his tenure as owner would go

MA may get worse before its gets better, but you know the club's future is in safe hands

I think my preference is MA at this point, whilst i'd love next season to be having a crack at promotion if that fails does CK have a plan for season 2 and 3 or will he pull the plug when he realises he's way out of his depth owning a football club. if he pulls the plug we will be back in this situation pretty quickly 

[Ram a lamb a ding dong]

12 hours ago, Mostyn6 said:

All the press releases are hot air and bluster. Deal will be completed by 1pm tomorrow. CK will own the club. 

2 hours and 16 mins to go ......

[Oldben]

https://footballleagueworld.co.uk/derby-county-takeover-update-emerges-on-69-y-o/

Former Wolverhampton Wanderers owner Steve Morgan is now out of the race to buy Championship side Derby County after withdrawing his interest, according to an update from Sky Sports.

 

[Ghost of Clough]

57 minutes 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.

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.

Creditors are not far off these figures:
HMRC - £36m
MSD - £24m
Transfer Fees - £8.4m
Administrators - £3.5m (estimate)
Unsecured Creditors - £3m

35% to unsecured creditors (£1m), whatever was agreed with HMRC (I'm guessing at 50% = £18m), and 100% of the rest.
£55m for the lot. 
The 25% option would knock just £300k off the total. Doesn't make sense to do that when you can spread the payments out over 3 years instead.

[RoyMac5]

1 minute ago, Ghost of Clough said:

...

35% to unsecured creditors (£1m), whatever was agreed with HMRC (I'm guessing at 50% = £18m), and 100% of the rest.
£55m for the lot. 
The 25% option would knock just £300k off the total. Doesn't make sense to do that when you can spread the payments out over 3 years instead.

Only that it's another year of EFL business planning?

[Mostyn6]

it's a moot point in my mind as this will be over today, but I fail to see anyone's logic in backing MA. If he doesn't satisfy the creditors sufficiently, and the EFL, we have a points deductions and a soft-embargo! We lose any asset we have in terms of staff and player, and we get relegated. Anyone in here using the mindset that fans "pay the wages" and should demand respect from any owner, get a grip, you'll get nothing from MA! If you think communications are vital and your mental health has been affected by lack of updates in recent months, do NOT expect anything from MA and his team. 

Whilst CK is an unknown factor in terms of how he may or may not succeed as owner, we know how bad MA has been. 

Also note that MA never had to rebuild Newcastle when he bought them, he actually got them relegated!

[May Contain Nuts]

22 minutes ago, bimmerman said:

I mean...I'd wait the 3-5 working days personally...?

Ah, a true skinflint!

Unfortunately your order from the cheaper and less reputable website has got lost in the post and it's the last copy they had in stock, so now you've got to file an official complaint with Royal Mail. Anyone who's had to do that will probably tell you, it can be a bit of a  nightmare.

After the rigmarole of filing the complaint they get back to you: their system says the parcel was delivered so that's that, they have no means to reimburse you for your purchase, the company you bought the game from can't replace the item and can't give you a refund either.

That's £67 you'll never see again! Should probably have paid £3 extra for tracked delivery to ensure that you got what you wanted.

Edited June 13, 2022 by Coconut's Beard

[CornwallRam]

OK, it's 1968, I've been born and Brian Clough is in charge. It's bound to get sorted out now.

[Dai Capp]

6 minutes ago, Ghost of Clough said:

Creditors are not far off these figures:
HMRC - £36m
MSD - £24m
Transfer Fees - £8.4m
Administrators - £3.5m (estimate)
Unsecured Creditors - £3m

35% to unsecured creditors (£1m), whatever was agreed with HMRC (I'm guessing at 50% = £18m), and 100% of the rest.
£55m for the lot. 
The 25% option would knock just £300k off the total. Doesn't make sense to do that when you can spread the payments out over 3 years instead.

Doesn't MSD clear when MM sells the stadium or do we actually owe MSD somewhere in the region of £44m?

[scout's dad]

6 minutes ago, Oldben said:

https://footballleagueworld.co.uk/derby-county-takeover-update-emerges-on-69-y-o/

Former Wolverhampton Wanderers owner Steve Morgan is now out of the race to buy Championship side Derby County after withdrawing his interest, according to an update from Sky Sports.

 

Race?

It feels like this

CK and other hopefulls

[Ted McMinn Football Genius]

11 minutes ago, Oldben said:

https://footballleagueworld.co.uk/derby-county-takeover-update-emerges-on-69-y-o/

Former Wolverhampton Wanderers owner Steve Morgan is now out of the race to buy Championship side Derby County after withdrawing his interest, according to an update from Sky Sports.

 

That lasted long ?

[Ghost of Clough]

5 minutes ago, RoyMac5 said:

Only that it's another year of EFL business planning?

Not such a bad thing IMO. The business plan won't be anything too strict.

2 minutes ago, Dai Capp said:

Doesn't MSD clear when MM sells the stadium or do we actually owe MSD somewhere in the region of £44m?

It's the same thing. Split between the original loan (£20.5m and the additional loan in November of £3.5m). £20.5m to MSD to buy the stadium. £3.5m directly to MSD to clear the loan.

[derby8]

10 minutes ago, Ghost of Clough said:

Creditors are not far off these figures:
HMRC - £36m
MSD - £24m
Transfer Fees - £8.4m
Administrators - £3.5m (estimate)
Unsecured Creditors - £3m

35% to unsecured creditors (£1m), whatever was agreed with HMRC (I'm guessing at 50% = £18m), and 100% of the rest.
£55m for the lot. 
The 25% option would knock just £300k off the total. Doesn't make sense to do that when you can spread the payments out over 3 years instead.

Thanks for that. The 35% relates to a relatively small proportion of the debt, seeing the other figures are separate. £55m for the lot seems high for a L1 club but the fan base, quite modern stadium capable of expansion, and overall potential could make it a good investment to try and grow the capital. We'll see...

[Ram-Alf]

23 minutes ago, PistoldPete said:

How can Ramstrust welcome EFL involvement and then say negotiations should be without improper external influences? That’s a total contradiction. 

Yes it is...No it isn't...erm ?

[rsmini]

Man City just bought a player for £51million, Real Madrid buying someone I’ve never heard of for 100 million Euros. I’m sure I read somewhere yesterday that Liverpool are looking to sign someone for £100million. Hear it begins, all the so called top clubs spending an awful amount of money whilst little old Derby, promised so much by a previous owner, struggle to find someone with £25m to save us. 

It’s quite embarrassing to be honest 

[jono]

2 hours ago, jono said:

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. 

Just reflecting on this. The Admins and CK have signed a contract to sell / buy the club. The date it should have been executed isn’t clear to me but if CK doesn’t complete; then legally speaking he is in breach of contract. The remedy in law would be to sue the party that defaulted for damages. If the saga continues do Q or the creditors have a case against CK ? Of course assessing damages might be tricky but it would seem likely. 

[Curtains]

12 minutes ago, Mostyn6 said:

it's a moot point in my mind as this will be over today, but I fail to see anyone's logic in backing MA. If he doesn't satisfy the creditors sufficiently, and the EFL, we have a points deductions and a soft-embargo! We lose any asset we have in terms of staff and player, and we get relegated. Anyone in here using the mindset that fans "pay the wages" and should demand respect from any owner, get a grip, you'll get nothing from MA! If you think communications are vital and your mental health has been affected by lack of updates in recent months, do NOT expect anything from MA and his team. 

Whilst CK is an unknown factor in terms of how he may or may not succeed as owner, we know how bad MA has been. 

Also note that MA never had to rebuild Newcastle when he bought them, he actually got them relegated!

What bothers me is that CK hasn’t come through with the cash yet leaving the likes of Ashley to get us just prior to liquidation.

The creditors get less with Ashley and we get a points deduction of 15 points .

Pride Park is also unresolved at this point if CK fails .

[CBRammette]

1 minute ago, rsmini said:

Man City just bought a player for £51million, Real Madrid buying someone I’ve never heard of for 100 million Euros. I’m sure I read somewhere yesterday that Liverpool are looking to sign someone for £100million. Hear it begins, all the so called top clubs spending an awful amount of money whilst little old Derby, promised so much by a previous owner, struggle to find someone with £25m to save us. 

It’s quite embarrassing to be honest 

Yes but I would say embarrassing for football/premier league. Just highlights the gulf now and how out of touch PL is with most football in this country