The Administration Thread

[seths-cap]

If things stay like this we could easily do our preseason training on one of the pitches at DW

[jono]

Just out of interest, do we actually know in a simple verified public statement the following 

1) what price will secure the stadium - is it the much quoted 20 million to cover MSD an accepted figure by MM ? 

2) what is the actual settlement figure in pounds shillings and pence that satisfies the 25% and 35% none football creditors ? 
 
3) what is the total sum owed to football creditors 

4) HMRC .. Are they a football creditor or do they just have a ranking above unsecured creditors from a legal but none EFL point of view ? 
 

5) are MSD a football creditor or on receipt of their 25/35 % do they go after Mel for the balance as it is secured on the stadium ? 

[Tyler Durden]

1 hour ago, Jimbo Ram said:

Not sure what term is more irritating…..’end of’ or ‘just saying’ ….what do you think ? 

Leave it with you 

[Brammie Steve]

23 minutes ago, Jimbo Ram said:

You can’t bring politics in to these threads Brammie……believe me. 

Neither does BJ!

 

PS I like the bloke and I like DCFC, just being realistic given today's news.

 

Edited June 16, 2022 by Brammie Steve

[Tyler Durden]

1 hour ago, Leeds Ram said:

There is a rationale to presume that 2 months wasted on a bid that went nowhere narrowed the window for an alternative acceptable bid to be given which contradicts your point... I don't need to prove that an acceptable bid was going to be tabled in that time frame to prove my point. You can't reasonably say that spending 2 months on a bid that disappeared from crypto boy didn't end up wasting our time, definitionally it did because it failed. It might be that it was reasonable to spend time with Kirchner but it did end up as time wasted. 

I guess that the flaw in your logic is making the assumption that the 2 month period where Kitchener faffed us around blocked another bidder coming in and making a bid which would be accepted by Quantuma and the creditors.

None of us actually know that so as much as I despise Kirchener I'm unable to categorically lay that blame at his door as other people can't either. 

[David Graham Brown]

The ratio of corner flags to players on contract is getting perilously  close.

Edited June 16, 2022 by David Graham Brown

[Hanny]

12 minutes ago, jono said:

Just out of interest, do we actually know in a simple verified public statement the following 

1) what price will secure the stadium - is it the much quoted 20 million to cover MSD an accepted figure by MM ? 

2) what is the actual settlement figure in pounds shillings and pence that satisfies the 25% and 35% none football creditors ? 
 
3) what is the total sum owed to football creditors 

4) HMRC .. Are they a football creditor or do they just have a ranking above unsecured creditors from a legal but none EFL point of view ? 
 

5) are MSD a football creditor or on receipt of their 25/35 % do they go after Mel for the balance as it is secured on the stadium ? 

Id like to know these numbers as well. But, I would never expect us(the public/etc) to actually get to see them…as we have no right to know them. We are not party to the sale. 
 

However, every bidder and all parties (Creditors/Q/EFL/etc) will know these numbers. Since they are the only ones that matter in the sale of the asset. 
 

The above is why I’m confident that the long hold up of a sale is merely process driven, positioning, etc, and naught to do with conspiracies. 
 

Everyone involved knows the numbers, and everyone gets checked by the other sides accountants/lawyers/etc. So the only thing holding this up are bidders getting to the correct number…which they all know, but likely don’t want to pay ?‍♂️

[IslandExile]

27 minutes ago, RoyMac5 said:

 

Please, please, please can we have issue everyone with different pictures of Appleby.

It's either a picture showing him with Paul Jewell (I cannot begin to tell you the images that brings to mind, shudder) or the one where he looks like a child in total wonderment at his first visit to Disneyland.

 

[Jimbo Ram]

17 minutes ago, Brammie Steve said:

Neither does BJ!

 

PS I like the bloke and I like DCFC, just being realistic given today's news.

 

Really ?

[May Contain Nuts]

43 minutes ago, PistoldPete said:

Exactly. Blame quantuma if you like for indulging Ck for too long but he was the highest bidder, passed the Efl fit and proper test and showed proof of funds. They couldn’t just give someone else Pb status just because he makes a **** of himself on twitter. 

5 months were wasted in admin from September to February dealing with Efl charges and Boro claims. all the fault of Efl and Gibson. 

so for Efl to blame q for how long it’s taking is just a bit rich I would say. 

 

 

If there's one thing we know about the EFL it's that they always need a fall-guy to cover up their own failings should anyone look too closely at their actions, and in Quantuma they've got the perfect candidate. They're so perfect for the role in fact ("hey, they've got to be good at something"), that everyone else has jumped on the bandwagon.

They naively thought Quantuma could and would make it all go away for them. Surely someone will want to buy Derby County, right? For various reasons - none of which the  EFL would ever publicly acknowledge their contribution towards - that hasn't happened (yet).

So, what's their response? Put out a statement about being disappointed that matters haven't been concluded, make out that they're now coming in to help the process.

Their 'disappointment' that we haven't concluded a sale yet should be read more that they're turtle-heading at the very real prospect of one of the league's founding members being liquidated on their watch, aided and abetted by their own over-zealous need for 'justice' pushing them further to the edge.

Realistically they have no control over what happens at this stage, but they've managed to give quite a large number of people the impression they do.

All they can really do is watch, but if we do now find a buyer and the club is saved,  they've planted the idea in people's minds that they contributed to the solution, not the problem.

(Similar to Gibson agreeing something with Mel and all Boro fans saying "see, we told you Gibson wasn't the main obstacle", ignoring that his delays helped create further obstacles and put everything 4-5 months behind schedule)

Edited June 16, 2022 by Coconut's Beard

[Oldben]

41 minutes ago, RoyMac5 said:

 

That sports minister achieves nothing, unless hes got some good news about the hmrc reducing the size of the debt thats owed to them. 

Otherwise, that sports minister, is just trying a public relations exercise. It costs him nothing, and he achieves nothing.

He's not invested, hes not offering any solution.

[Ram-Alf]

21 minutes ago, Tyler Durden said:

I guess that the flaw in your logic is making the assumption that the 2 month period where Kitchener faffed us around blocked another bidder coming in and making a bid which would be accepted by Quantuma and the creditors.

 

I think you'll find he faffed a lot of people around for a shilling

[Ellafella]

11 minutes ago, Coconut's Beard said:

 

If there's one thing we know about the EFL it's that they always need a fall-guy to cover up their own failings should anyone look too closely at their actions, and in Quantuma they've got the perfect candidate. They're so perfect for the role in fact ("hey, they've got to be good at something"), that everyone else has jumped on the bandwagon.

They naively thought Quantuma could and would make it all go away for them. Surely someone will want to buy Derby County, right? For various reasons - none of which the  EFL would ever publicly acknowledge their contribution towards - that hasn't happened (yet).

So, what's their response? Put out a statement about being disappointed that matters haven't been concluded, make out that they're now coming in to help the process.

Their 'disappointment' that we haven't concluded a sale yet should be read more that they're turtle-heading at the very real prospect of one of the league's founding members being liquidated on their watch, aided and abetted by their own over-zealous need for 'justice' pushing them further to the edge.

Realistically they have no control over what happens at this stage, but they've managed to give quite a large number of people the impression they do.

All they can really do is watch, but if we do now find a buyer and the club is saved,  they've planted the idea in people's minds that they contributed to the solution, not the problem.

(Similar to Gibson agreeing something with Mel and all Boro fans saying "see, we told you Gibson wasn't the main obstacle", ignoring that his delays helped create further obstacles and put everything 4-5 months behind schedule)

Superb! Spot-on. The blokes in grey suits can blame the other blokes...in grey suits. 

[jono]

8 minutes ago, Hanny said:

Id like to know these numbers as well. But, I would never expect us(the public/etc) to actually get to see them…as we have no right to know them. We are not party to the sale. 
 

However, every bidder and all parties (Creditors/Q/EFL/etc) will know these numbers. Since they are the only ones that matter in the sale of the asset. 
 

The above is why I’m confident that the long hold up of a sale is merely process driven, positioning, etc, and naught to do with conspiracies. 
 

Everyone involved knows the numbers, and everyone gets checked by the other sides accountants/lawyers/etc. So the only thing holding this up are bidders getting to the correct number…which they all know, but likely don’t want to pay ?‍♂️

And that’s it in a nutshell. I reckon all the bidders know exactly what is required to do any of the following:

1) Cost A : I own the club with its league status intact, minus 15 and + “x” £ year for stadium leasing

2) Cost B : I own the club with its status intact and no points deductions + stadium leasing costs. 

3) Cost C : I own the club, status intact. I also own the stadium and can chose between no points deduction or - 15 depending on how much upfront cash I chose to lay out and what length of game I am playing

More than the stadium ( buy, rent, lease meh, owning it would be right and proper but it’s a strange world these days )

it’s the structure of MSD loans and the obligations to HMRC debts that are so opaque and hard to understand from the uninformed observers point of view. 

 

[Sparkle]

2 hours ago, hintonsboots said:

So the Appleby led consortium placed a bid early yesterday which has been described as highly competitive ( whatever that means) . So what have Q been up to in the last 30 hours or so ? Trying to squeeze more out of the other interested parties I presume?

I genuinely haven’t heard that bid is in - where was that reported?

[Hanny]

7 minutes ago, jono said:

And that’s it in a nutshell. I reckon all the bidders know exactly what is required to do any of the following:

1) Cost A : I own the club with its league status intact, minus 15 and + “x” £ year for stadium leasing

2) Cost B : I own the club with its status intact and no points deductions + stadium leasing costs. 

3) Cost C : I own the club, status intact. I also own the stadium and can chose between no points deduction or - 15 depending on how much upfront cash I chose to lay out and what length of game I am playing

More than the stadium ( buy, rent, lease meh, owning it would be right and proper but it’s a strange world these days )

it’s the structure of MSD loans and the obligations to HMRC debts that are so opaque and hard to understand from the uninformed observers point of view. 

 

100% agree. 
 

This deal is fairly straightforward (like you laid out), although it has many moving parts, and cost is high for immediate value- which makes it a crap deal for any buyer. 

Some one will need to over pay in the short term to hopefully get a return long term- that’s a lot of risk. It’s not a position any buyer wants to be in, unless they have a solid plan in place and are confident in completing that plan. 

 

[alram]

for me there needs to be a clear frontronner asap.

at the moments its anybodies guess who is going to buy us.

we are sleepwalking . show you are the least bit competent please administrators

Edited June 16, 2022 by alram

[Sparkle]

22 minutes ago, Oldben said:

That sports minister achieves nothing, unless hes got some good news about the hmrc reducing the size of the debt thats owed to them. 

Otherwise, that sports minister, is just trying a public relations exercise. It costs him nothing, and he achieves nothing.

He's not invested, hes not offering any solution.

For the EFL the sports minister is the Devil who can change everything including THEM and they know it.

[Leeds Ram]

47 minutes ago, Tyler Durden said:

I guess that the flaw in your logic is making the assumption that the 2 month period where Kitchener faffed us around blocked another bidder coming in and making a bid which would be accepted by Quantuma and the creditors.

None of us actually know that so as much as I despise Kirchener I'm unable to categorically lay that blame at his door as other people can't either. 

No, merely that the 2 months we spent with Kirchner impeded possible progress towards a realistic bidder. Unless you think we'd have spent 2 months post season standing completely still then it was time wasted. It could even be argued that giving Kirchner PB status set back potential bids due to them dropping out which obviously means they are not as well advanced as they would have been.

[I know nuffin]

1 hour ago, IslandExile said:

Not irrelevant to the small businesses, including this forum, that depend on their bills being paid.

But I don't think you meant it that way. I'm guessing you mean in terms of pushing a deal through.

Wonder how many of the small businesses take out credit insurance