The Administration Thread

[Topram]

21 minutes ago, Norman said:

There's many bidders at the table - we aren't going into liquidation,  it just means that this could rumble on for some time. 

There is no point in checking this thread daily (I probs still will) as any major breakthrough is, in my opinion, at least a month away.

I just don’t see how thar would work, 5 players 1/2 probably of them would of been sold, we’d be a week away from the start of the season with no squad potentially no manager, a month like this would be a disaster 

[atherstoneram]

9 minutes ago, Ramos said:

We will compete next season - I think we would have been kicked out by now if the EFL really thought we couldn’t. Q will secure funding from somewhere or confirm the bidder before the start of the season IMO - while there are a number of bidders at the table - we don’t have to worry about liquidation.
 

With multiple bidders the only way the process will be quicker is when someone sets a hard deadline that has to be met - ie if the EFL came out and said Q needs to accept a bid by xx date or we are gone not Q saying send your best bid by Wednesday at 2. All bidders are pushing this to the end now to get the cheapest deal. Not easy for us fans but it’s just how it will be. 

Not so sure about that, the EFL haven't had to worry about the administrators finding a buyer as it hasn't impacted on the league but now the fixtures are released next week and we have not made any progress. If the administrators had already provided the EFL proof that funding is in place then they wouldn't be so concerned.

[Curtains]

2 minutes ago, Topram said:

Exactly covering themselves so when this all goes t*ts up they’ll say they blocked us from helping etc… 

The EFL are so disingenuous.

They won’t be seen to be in the writing for anything they have done in the whole process . I hate them with a passion 

[PistoldPete]

36 minutes ago, angieram said:

But that's entirely the problem. Mel Morris won't budge from wanting the MSD loan paid off, but this clearly makes the whole deal unworkable.

Meanwhile Quantuma are constantly adding to that debt, making the deal even more unworkable! 

Quantuma wanted to sell us early and keep hold of our assets to make us an attractive purchase, but they failed to get that early deal over the line.

Meanwhile we get relegated, lose a lot of our assets (players) and yet Morris still wants someone to pay the MSD debt off in full. 

I feel our only hope now is a 'sentiment' purchase - someone or several someones who care enough about the club to buy us even though it makes no economic sense to do so.

It was widely reported that the sale of PPS was agreed with a genuine businessman as purchaser .

 So we need someone similar who does actually have real money and isn't a chancer to buy the club as well. 

[Elwood P Dowd]

4 minutes ago, atherstoneram said:

At this present time if true what Quantuma have stated regarding taking a loan out to pay Junes wages it gives the EFL more of a call that we cannot show proof that the upcoming season can be financed. Last season was different as we entered administration after the season had started and we went from month to month raising the funds, this season that won't be an option.

Unfortunately I have to agree with you, the longer this drags on the more likely it is we slip into Liquation, the amount a bidder has to pay for the club increases over time due to the interest on the loans needed to run the club whilst in Administration. Q now have to start again allowing ALL bidders to submit bids  and select a new "PB" this is needs to be conducted very carefully to avoid any legal challenge, the club would not survive being in limbo whilst the court settled any issues.   

[PistoldPete]

4 minutes ago, Curtains said:

The EFL are so disingenuous.

They won’t be seen to be in the writing for anything they have done in the whole process . I hate them with a passion 

I agree entirely Curtains. I would say disingenuous is a bit of an understatement. 

[Ram-Alf]

38 minutes ago, Loughborough Ram said:

Radio Derby saying this morning that Quantuma have said that they intend to take s further lian out to pay June's wages.

If true that means that there will be no immediate resolution.

And we sink deeper and deeper into the mire of debt, Players will be off quicker than Boris Johnsons back benchers

[TheresOnlyWanChope]

7 minutes ago, Loughborough Ram said:

It's interesting to think about the MSD loans.

Assuming that they are being secured against the stadium then effectively it is actually Mel Morris who is providing these loans, therefore strengthening his bargaining position when it comes to the future of the club.

Do you trust him to do the right thing?

Mel will do the right thing for him first and then club second. He put Derby in administration and has run up a huge tax bill. Until he has nothing more to do with DCFC, it's just more wishful thinking than expectation. Even the academy he has invested in is now being stripped and ruined. 

[RoyMac5]

9 minutes ago, Loughborough Ram said:

It's interesting to think about the MSD loans.

Assuming that they are being secured against the stadium then effectively it is actually Mel Morris who is providing these loans, therefore strengthening his bargaining position when it comes to the future of the club.

Do you trust him to do the right thing?

It has been and will be and is ALL about Mel.

I wonder if Q are looking for buyers for one of our players (Knight), or are trying to get another loan from MSD. 

[PistoldPete]

Just now, Elwood P Dowd said:

Unfortunately I have to agree with you, the longer this drags on the more likely it is we slip into Liquation, the amount a bidder has to pay for the club increases over time due to the interest on the loans needed to run the club whilst in Administration. Q now have to start again allowing ALL bidders to submit bids  and select a new "PB" this is needs to be conducted very carefully to avoid any legal challenge, the club would not survive being in limbo whilst the court settled any issues.   

The immediate risk is not liquidation, but expulsion from the League. Neither MSD nor Quantuma would allow this to continue if liquidation was inevitable. It isn't inevtiable at all far from it, but EFL are making it ten times more difficult with their poxy unwritten "rules".

[Curtains]

2 minutes ago, PistoldPete said:

I agree entirely Curtains. I would say disingenuous is a bit of an understatement. 

Well I can’t say what I really think of them.  
The way they have treated a founder member of Football is appalling .

They can rot in hell 

[Phuket Ram]

13 minutes ago, Loughborough Ram said:

It's interesting to think about the MSD loans.

Assuming that they are being secured against the stadium then effectively it is actually Mel Morris who is providing these loans, therefore strengthening his bargaining position when it comes to the future of the club.

Do you trust him to do the right thing?

Exactly. Every loan comes from MSD and is secured against the stadium and leases. So the price for the stadium keeps increasing. 

[atherstoneram]

2 minutes ago, Unlucky Alf said:

And we sink deeper and deeper into the mire of debt, Players will be off quicker than Boris Johnsons back benchers

Can't blame them , however much they may want to stay they will be getting more concerned about their futures as each day passes and the security of next season gets further and further away.

[hintonsboots]

Thinking about a good analogy for Parry. 

Like Norman Hunter on the pitch he went through the back of us two footed and now is visiting the hospital with a bunch of grapes from the reduced section in Aldi.

[RoyMac5]

8 minutes ago, PistoldPete said:

The immediate risk is not liquidation, but expulsion from the League. Neither MSD nor Quantuma would allow this to continue if liquidation was inevitable. It isn't inevtiable at all far from it, but EFL are making it ten times more difficult with their poxy unwritten "rules".

It's not the EFL this time, it's Q not being able to accept or want to accept low bids. Who stands to lose their money if there are only low bids - Mel and Q mostly!

[PistoldPete]

18 minutes ago, EnigmaRam said:

No, we can start the season in admin and remain in admin until March 2023. BUT, we have to show proof we can afford to finish the season, even if that’s cost neutral. How we do that and manage to scrape a team together is anyones guess though!!

What Birch said was :

"As it stands the administrators of DCFC will need to provide the Board of the EFL with evidence that the club will meet its commitment to the competition for the 22/23 season (including an exit before March 2023) to avoid the club beginning the season but not completing it".

The bit in brackets is a killer. How do we show evidence that we will exit admin before March 2023? The only way is to find a buyer before season starts.  If we don't exit admin before March 2023 that's  breach of EFL poxy unwritten "rules" and they will expel us.  They don't want to do that mid season so they will do it  before season starts.

[alexxxxx]

1 hour ago, Turk Thrust said:

The law applies to any ‘processing of personal data’, and will catch most businesses and organisations, whatever their size.

What I meant is data belonging to individuals.. not business' data.

[Curtains]

3 minutes ago, RoyMac5 said:

It's not the EFL this time, it's Q not being able to accept or want to accept low bids. Who stands to lose their money if there are only low bids - Mel and Q mostly!

Historically the EFL have caused all this allowing Boro and Wycombe to hold early bidders and Q and DCFC to ransom not to mention the fact they started all this with appealing amortisation and ground sale after Derby had been cleared by tribunal and not accepting that Covid 19 was an issue with no games etc. 

[Caerphilly Ram]

@angieram have the Supporters Groups been in touch with Q regarding raising funds recently? I know from your earlier reply they’re not exactly forthcoming with info about admin and takeover, which isn’t ideal but not much can be done as mentioned before regarding NDAs and GDPR, is it feasible to approach them with ideas for raising capital? If Q need to evidence funding for the season and the EFL are so keen to help us survive, can Q and EFL work out a mechanic for season tickets? Or half season tickets? I know gofundmes and the like were mentioned before, get them to do a commercial transaction of some sort instead, raffle off Rammie’s head/Rooney’s boxers/blades of grass….something that can go through the club’s “tills” to generate some funds with fans able to contribute directly in the current absence of match days/kits etc

Maybe raffle off a corporate box for a season or something. There must be other options to contribute to the funds the club needs other than more debt

Edited June 19, 2022 by Caerphilly Ram

[atherstoneram]

7 minutes ago, RoyMac5 said:

It's not the EFL this time, it's Q not being able to accept or want to accept low bids. Who stands to lose their money if there are only low bids - Mel and Q mostly!

It may well be the former @RoyMac5 with the bids not being high enough, we don't have a clue who has bid what, if at all. All we have is the media pontificating that bidders X Y & Z have offered this, that and the other.