The Administration Thread

[Tyler Durden]

4 minutes ago, Leeds Ram said:

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.

Neither of us actually know that though.

Let's see what comes out of the next couple of weeks to see how much parties are willing to bid for the club and whether those bids are credible to Quantuma but also acceptable to the creditors. 

[Dean (hick) Saunders]

1 hour 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 ? 

Does it matter what stadium price is? The method of transacting that is already sorted I assume. If new bloke wants to buy it then that’s the price (pay it, do the rent/lease option with local business man buyer or F.Off you cnut).

[PistoldPete]

40 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)

Indeed. EFL were "disappointed" at the findings of their own appointed Independent disciplinary Commission, disappointed at the indpendent property valuation of PPS, the work of Derby's indpendent auditors, shocked at the temerity of Quantuma for appealing on grounds of force majeure, and now disappointed with the work of the Court's  officers Quantuma in trying to find a buyer against the background of all the handicaps they themselves have placed . Always someone else's fault but their own. 

[Leeds Ram]

3 minutes ago, Tyler Durden said:

Neither of us actually know that though.

Let's see what comes out of the next couple of weeks to see how much parties are willing to bid for the club and whether those bids are credible to Quantuma but also acceptable to the creditors. 

I think it is beyond reasonable doubt to assume that the administrators and potential bidders wouldn't have spent 2 months with their feet up not making any progress at all. 

[PistoldPete]

22 minutes ago, Leeds Ram said:

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.

The 2 months has set us back massively but not all of it was wasted. We do now have a deal for the stadium (and presumably MSD).That may not suit all of the buyers some of whom may prefer to buy the stadium as well as the club. But Clowes (if it is him) could also just up his offer and buy the club as well, or cut a deal with someone else. We have more options.

But I don't see why the start of season is being used as a deadline. There is no rule that I know of that says we cannot start the season in admin, and hopefully Sports Minister intervention today can make EFL see sense. 

   

[sage]

2 minutes ago, PistoldPete said:

The 2 months has set us back massively but not all of it was wasted. We do now have a deal for the stadium (and presumably MSD).That may not suit all of the buyers some of whom may prefer to buy the stadium as well as the club. But Clowes (if it is him) could also just up his offer and buy the club as well, or cut a deal with someone else. We have more options.

But I don't see why the start of season is being used as a deadline. There is no rule that I know of that says we cannot start the season in admin, and hopefully Sports Minister intervention today can make EFL see sense. 

   

Agreed. We should start selling season tickets now. 

It may give a potential owner an extra fillip when we sell 10,000 season tickets in a week 

[RoyMac5]

13 minutes ago, PistoldPete said:

But I don't see why the start of season is being used as a deadline. There is no rule that I know of that says we cannot start the season in admin, and hopefully Sports Minister intervention today can make EFL see sense. 

   

Is it the season start? I thought the EFL were implying fixture release date? We need something to make the 'best and final' bids come in. Plus before all the rest of the players don't re-sign and Q sell the others?!

Edited June 16, 2022 by RoyMac5

[RipleyRich]

4 minutes ago, RoyMac5 said:

Is it the seeson start? I thought the EFL were implying fixture release date? We need something to make the 'best and final' bids come in. Plus before all the rest of the players don't re-sign and Q sell the others?!

The club can start the season in administration. That is clear in the EFL rules.

The problem which needs to be urgently solved is providing proof to the EFL of funding for the season.

It appears that if that is not provided by ????? then the EFL can withdraw membership.

The takeover doesn't need to be completed by the fixture release date provided funding is guaranteed.

[RoyMac5]

3 minutes ago, RipleyRich said:

The club can start the season in administration. That is clear in the EFL rules.

The problem which needs to be urgently solved is providing proof to the EFL of funding for the season.

It appears that if that is not provided by ????? then the EFL can withdraw membership.

The takeover doesn't need to be completed by the fixture release date provided funding is guaranteed.

Yeah I know that. I was wondering where the 'season start deadline' came from.

[maxjam]

1 minute ago, RoyMac5 said:

Yeah I know that. I was wondering where the 'season start deadline' came from.

Surely we have to prove funding and have a competitive squad assembled by then.

[RoyMac5]

8 minutes ago, maxjam said:

Surely we have to prove funding and have a competitive squad assembled by then.

Yeah I know that. 

This is what I was questioning:

28 minutes ago, PistoldPete said:

But I don't see why the start of season is being used as a deadline.

 

[Rambalin]

30 minutes ago, sage said:

Agreed. We should start selling season tickets now. 

It may give a potential owner an extra fillip when we sell 10,000 season tickets in a week 

We are not allowed to sell whilst in Admin the ticket office tell me. They also said everything was in place and ready to be sent out when the CK deal went through 

Now weather or not a new owner agrees with the pricing will remain to be seen... And no they did say what it was. 

[kevinhectoring]

3 hours ago, Brailsford Ram said:

Absolutely ridiculous point. Rooney was doing that to motivate his team and the supporters- I don’t expect that he even gave Gibson headroom at the time. He held this club together through outstanding leadership this season ad gave us hope. Without him we would have had a miserable season but instead we witnessed some absolutely outstanding performances at Pride Park from a young team fighting against impossible odds. 

Unforgettable performance are usually associated with promotion seasons but we got to see them in a relegation season. Those performances will be talked about until everyone who saw them has passed on just like the performances from the two League Championship teams are still talked about.

it is absolutely bonkers to try to level criticism at Rooney for any of this debacle.

Where were you when all of this was going on? We’re your hibernating?

 

 

Not what the conversation was about. 
 

But since you raise it:  Rooney has done some things very well and has does some things poorly. Player motivation is one of his strengths and to suggest he needs to use the press to get messages to his players isn’t tenable

[PistoldPete]

14 minutes ago, RoyMac5 said:

Yeah I know that. 

This is what I was questioning:

 

The fixture release date is certainly a red herring. We know the EFL can adopt an alternative schedule if they need to. 

[RoyMac5]

2 minutes ago, PistoldPete said:

The fixture release date is certainly a red herring. We know the EFL can adopt an alternative schedule if they need to. 

You didn't answer my question. So you made your deadline date up basically. ?

[TooFarInToTurnRed]

[jono]

58 minutes ago, Dean (hick) Saunders said:

Does it matter what stadium price is? The method of transacting that is already sorted I assume. If new bloke wants to buy it then that’s the price (pay it, do the rent/lease option with local business man buyer or F.Off you cnut).

I think that’s what I said, the stadium is a bit of a side issue .. nice if we have it but as long as the lease agreement is rational it’s a nothing issue.

I don’t think we’ll be liquidated. We have nothing much to liquidate. The purchase price for the club with minus 15 and paying the bare minimum for a league club will be very low* …..

*the only issue that remain as an unknown and could affect that statement is the MSD loan and HMRC’s minimum acceptable take.

[Curtains]

https://www.telegraph.co.uk/football/2022/06/16/mike-ashley-launches-high-court-claim-against-quantuma-administrator/

[Chopper]

4 minutes ago, TooFarInToTurnRed said:

Ahh yes the litigious MA. I'd take him over liquidation (I stand by the month down the line before we are 'ready'for him) but it wont be the end of the Banter life we've been... "enjoying" these last few.

[DCFC1388]

Appleby bid in excess of 40m then for club & stadium

If 21.4m for the club that means around 20m for the ground, isnt that the price Mel wanted originally to settle the MSD debt