The Administration Thread

[Phuket Ram]

Just now, jimtastic56 said:

Wages have got to be paid again in 2 weeks. We probably won’t have a Preferred Bidder by then. Is there any compensation coming from Blackpool for Rosenior ? That would help ?

100% the buyer will be in before then. 

There will definitely be some compo, but depends how long his contract was. I’m guessing £100k or something in that region.  Will help but won’t be needed in my opinion.

[ramboy63]

7 minutes ago, Phuket Ram said:

I called out kirchner weeks ago, and I’m calling this one too. It can only be Morris who paid the wages.

Me and you both i said all along after a bit of digging myself CK had little cash equity and most funds were tied up in business not the sort of person we need if we are to get back in football terms,Clubs are not toys and play things it does take a hell of a lot of investment.

Q keep saying we have others lining up but starting to get very concerned now its only 10 days when the fixtures are announced and the EFL will be getting very concerned.

Worrying times

[GenBr]

7 hours ago, Albert said:

It's amazing how terrible a job Morris did with the club. Given the storied history of mismanagement at the club, Morris really has set a new high water mark. 

While it's not the thing to talk about, it would be a fitting end for the damn Candy Crush tycoon, who claims to have been a fan, to have taken a club on the rise and taken them to the brink instead. 

Does he still own the stadium? My only hope if we do get liquidated was that he would at least see some kind of consequences by being lumbered with a big useless stadium. Hopefully the sale was based on the proviso that the club be sold first.

[kevinhectoring]

19 minutes ago, jimtastic56 said:

Should Stretford and Rooney have a say in who buys DCFC ? 

Of course q should be asking for Rooney’s view. (I’d think they have been getting it anyway) They then need to assess whether his preferred route is likely to bring the best result for the creditors (taking into account his likely action if they ignore his preferred route ) 

The unanswered question is whether Rooney’s (and Stretford’s) power has been Q’s greatest asset or their biggest nightmare in this process. It’s now clear to us all how much the half baked appointment of CK as preferred bidder - Stretford’s choice - has damaged us. 
 

Another unknown just now is whether Stretford will find a new investor to step into CK’s shoes. This talk of new bidders emerging suggests he might 

[Phuket Ram]

Just now, GenBr said:

Does he still own the stadium? My only hope if we do get liquidated was that he would at least see some kind of consequences by being lumbered with a big useless stadium. Hopefully the sale was based on the proviso that the club be sold first.

He owns the stadium but it’s not part of dcfc or administration, except that MSD has a charge against it for the £23m loan. Whatever happens, he won’t make a bean on the stadium. 

[RipleyRich]

13 minutes ago, jimtastic56 said:

Wages have got to be paid again in 2 weeks. We probably won’t have a Preferred Bidder by then. Is there any compensation coming from Blackpool for Rosenior ? That would help ?

The situation will be concluded one way or another before then.

[RipleyRich]

Birmingham about to be sold for £35m

[RipleyRich]

16 minutes ago, jimtastic56 said:

Wages have got to be paid again in 2 weeks. We probably won’t have a Preferred Bidder by then. Is there any compensation coming from Blackpool for Rosenior ? That would help ?

I've been wondering if, and at what point players might be sold in order to reduce the debts to ease a sale?

[kevinhectoring]

14 minutes ago, FlyBritishMidland said:

Remember back in February after MM and sorted out Gibson, Quantuma (I think it was Andrew Hoskins) said they’d have a PB in 7 - 10 days?  That’s the sort of timescale we need now but this time they must deliver on it.  That would mean the PB in place late next week, when the fixtures are out.

PB implies a floppy contractual arrangement and a period of negotiation. That’s what they did with CK and it was obvious at the time it was a mistake. This time they need to go straight to a sale.
 

The EFL’s involvement will help considerably in achieving this because people won’t be dicking the EFL around they way q has been dicked around 

[Brammie Steve]

How will Stretford End?

Not in rack and Rooney!

We hope!

[Sheff Ram]

?Morning fellow Rams fans. Still more questions than answers. What will today bring?

Stay strong, try to keep the faith and let's all be good to each other. 

#ramsfamily

????? ??????

Edited June 14, 2022 by Sheff Ram
Sheep emoji needed

[kevinhectoring]

22 minutes ago, jimtastic56 said:

Wages have got to be paid again in 2 weeks. We probably won’t have a Preferred Bidder by then. Is there any compensation coming from Blackpool for Rosenior ? That would help ?

We need this deadline. Highly likely this and the EFl deadlines will have us sold in 2 weeks 

[RipleyRich]

1 hour ago, Gritstone Ram said:

My thoughts are that CK deals isn’t completely dead he has pulled out due to the length of time it is taking to clear the money. If the money clears and he is good to go and nothing has been agreed with any other party then he may well be back. I suspect the admins have said the deal mus come off unless you have the funds and we are seeking alternatives. I still think CK will be the best bid.

It might be the best bid, unless I decide to outbid him.

But either way, neither of us can produce the funding.......

[RipleyRich]

14 minutes ago, kevinhectoring said:

Of course q should be asking for Rooney’s view. (I’d think they have been getting it anyway) They then need to assess whether his preferred route is likely to bring the best result for the creditors (taking into account his likely action if they ignore his preferred route ) 

The unanswered question is whether Rooney’s (and Stretford’s) power has been Q’s greatest asset or their biggest nightmare in this process. It’s now clear to us all how much the half baked appointment of CK as preferred bidder - Stretford’s choice - has damaged us. 
 

Another unknown just now is whether Stretford will find a new investor to step into CK’s shoes. This talk of new bidders emerging suggests he might 

Depends what "finders fee" he can achieve.

 

Sorry,  just my cynical head. I just have the feeling that there are too many vultures hanging around now looking how they can benefit themselves from a dire situation.

[cosmic]

For some reason there was a random flock of sheep in my city park this morning. It's a sign. Today's the day, folks.

[CBRammette]

1 minute ago, cosmic said:

For some reason there was a random flock of sheep in my city park this morning. It's a sign. Today's the day, folks.

Yes and found my soft toy Rammie fallen head first to the floor. Now rescued. Another sign - if only it were that simple

[PistoldPete]

34 minutes ago, FlyBritishMidland said:

Remember back in February after MM and sorted out Gibson, Quantuma (I think it was Andrew Hoskins) said they’d have a PB in 7 - 10 days?  That’s the sort of timescale we need now but this time they must deliver on it.  That would mean the PB in place late next week, when the fixtures are out.

To do that they also need to take up the EFL’s offer and I worry that their statements indicate they have a process and they’re going to follow it.  We’ll they should control the process, not let the process control them.  Something they could easily do is tell the EFL today who the potential bidders are.  If the EFL think they’ll need to do more work to pass the OADT then bin them off.  Why waste time with those who are borderline?  Focus on the ones you know will pass any tests.

There will not be Preferred bidder now, no periods of exclusivity. It’s a question of whose money gets in first I think. 

[CornwallRam]

On the plus side, the next time a club goes into administration, DCFCFans is the goto place for info and advice. We've all learnt so much over these last few months.

[RipleyRich]

13 minutes ago, PistoldPete said:

There will not be Preferred bidder now, no periods of exclusivity. It’s a question of whose money gets in first I think. 

No time for preferred bidders.

Its who can put the cash on the table and agree a deal with creditors.

Edited June 14, 2022 by RipleyRich

[FlyBritishMidland]

24 minutes ago, kevinhectoring said:

PB implies a floppy contractual arrangement and a period of negotiation. That’s what they did with CK and it was obvious at the time it was a mistake. This time they need to go straight to a sale.
 

The EFL’s involvement will help considerably in achieving this because people won’t be dicking the EFL around they way q has been dicked around 

 

7 minutes ago, PistoldPete said:

There will not be Preferred bidder now, no periods of exclusivity. It’s a question of whose money gets in first I think. 

You’d hope so.  I can’t remember Quantuma’s phrase in their statement last night but they basically said full and final bid with no caveats.  That should cut both ways.  Bids come in this week, short period of clarification, announced towards the end of next week.