Curtains Posted June 19, 2022 Share Posted June 19, 2022 23 minutes ago, RoyMac5 said: Maybe so, but who is it then and now/currently not willing to accept a low bid? Creditors ! Link to comment Share on other sites More sharing options...
RoyMac5 Posted June 19, 2022 Share Posted June 19, 2022 Just now, Curtains said: Creditors ! And who is the biggest creditor?! Link to comment Share on other sites More sharing options...
Curtains Posted June 19, 2022 Share Posted June 19, 2022 (edited) 1 minute ago, RoyMac5 said: And who is the biggest creditor?! MSD /HMRC /MM Edited June 19, 2022 by Curtains Added Link to comment Share on other sites More sharing options...
RoyMac5 Posted June 19, 2022 Share Posted June 19, 2022 2 minutes ago, PistoldPete said: Everyone loses from low bids, HMRC, creditors and of course the fans. Actually Q are high on the priority list of creditors, higher than HMRC. And as for Morris if he has agreed to sell PPS for the amount of the MSD loan how does Morris lose out from a low bid for the club? If the bids are so low that the club is liquidated and or expelled, then MSD exercise their charge on the stadium and he loses it anyway, and MSD get their money that way. How is he then worse off except for trashing his reputation even more? Yes there are losses on low bids - we've been placed in administration - but who says if they'll accept them or not? This is all coming down to who blinks first. Not sure Q know how to deal with it. Link to comment Share on other sites More sharing options...
TheresOnlyWanChope Posted June 19, 2022 Share Posted June 19, 2022 5 minutes ago, atherstoneram said: The administrators won't have been in discussions with anyone to say what the minimum is, if they did that nobody would bid above it. It is up to potential buyers to bid what they think it is worth but that may not be enough. The potential buyers are not stupid, they will know roughly what the amounts would be. Also, they will probably know what CK bid and may pitch slightly under there. There is a real deadline coming up soon with pre season and thin squad so I guess this side of conversation needs to have already happened Elwood P Dowd 1 Link to comment Share on other sites More sharing options...
Ghost of Clough Posted June 19, 2022 Share Posted June 19, 2022 1 hour ago, Topram said: 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 We currnetly have 15 players on professional contracts for next season. A further 8 players under 24 have been offered contract extensions. We then have 15 2nd year scholars, and a number of 1st year scholars due to be announced. We may struggle to field a competitive team on a regular basis, but we will have no trouble fielding a team next season. Carnero, DCFC1388, Norman and 2 others 5 Link to comment Share on other sites More sharing options...
TheresOnlyWanChope Posted June 19, 2022 Share Posted June 19, 2022 (edited) 12 minutes ago, Rammy03 said: Is this ever going to get sorted Mel Morris could have sold the club ages ago if he hadn’t have been greedy and then build up bigger debts. Trying to sell the club for maybe 3/4 years I think? It’s actually unbelievable how long this has taken.... maybe 2017 there were discussions about Morris trying to get out. Edited June 19, 2022 by TheresOnlyWanChope jimtastic56 1 Link to comment Share on other sites More sharing options...
atherstoneram Posted June 19, 2022 Share Posted June 19, 2022 1 minute ago, TheresOnlyWanChope said: The potential buyers are not stupid, they will know roughly what the amounts would be. Also, they will probably know what CK bid and may pitch slightly under there. There is a real deadline coming up soon with pre season and thin squad so I guess this side of conversation needs to have already happened What conversation? Link to comment Share on other sites More sharing options...
PistoldPete Posted June 19, 2022 Share Posted June 19, 2022 24 minutes ago, RoyMac5 said: Maybe so, but who is it then and now/currently not willing to accept a low bid? I don't know Roy who is not willing to accept a "low" bid? Quantuma last statement said a certain bidder (believed to be Ashley ) offered in May that was not enough for us to keep the Golden Share. Why would they accept such a bid? At the end of the exclsuivity period for CK they invited other bids. We know nothing more about what, if any, bids have since been made, other than hot air in the media. atherstoneram and FlyBritishMidland 2 Link to comment Share on other sites More sharing options...
atherstoneram Posted June 19, 2022 Share Posted June 19, 2022 1 minute ago, Ghost of Clough said: We currnetly have 15 players on professional contracts for next season. A further 8 players under 24 have been offered contract extensions. We then have 15 2nd year scholars, and a number of 1st year scholars due to be announced. We may struggle to field a competitive team on a regular basis, but we will have no trouble fielding a team next season. At this time i think it's more about funding next season than the squad. RipleyRich, Elwood P Dowd and whiteroseram 3 Link to comment Share on other sites More sharing options...
PistoldPete Posted June 19, 2022 Share Posted June 19, 2022 4 minutes ago, RoyMac5 said: Yes there are losses on low bids - we've been placed in administration - but who says if they'll accept them or not? This is all coming down to who blinks first. Not sure Q know how to deal with it. You think EFL do know how to deal with it? Their big idea of involving themselves in all communications with bidders didn't seem so clever did it? Ram-Alf 1 Link to comment Share on other sites More sharing options...
RoyMac5 Posted June 19, 2022 Share Posted June 19, 2022 (edited) 8 minutes ago, PistoldPete said: I don't know Roy who is not willing to accept a "low" bid? Quantuma last statement said a certain bidder (believed to be Ashley ) offered in May that was not enough for us to keep the Golden Share. Why would they accept such a bid? At the end of the exclsuivity period for CK they invited other bids. We know nothing more about what, if any, bids have since been made, other than hot air in the media. ...You think EFL do know how to deal with it? Their big idea of involving themselves in all communications with bidders didn't seem so clever did it? It also said when he returned with a higher bid they'd given exclusivity to CK. If after announcing post-CK that it's best and final bids, you'd think if we are worth it someone would have matched CKs bid? I don't know how low a bid we can go without being kicked out the League, does it depend on how the bid is divvied up? I think that as Birch went into Portsmouth and sorted out their administrators - including one of the current head honchos at Q, then yes they do know how to deal with it. Edited June 19, 2022 by RoyMac5 Link to comment Share on other sites More sharing options...
Ellafella Posted June 19, 2022 Share Posted June 19, 2022 36 minutes ago, REDCAR said: All I’d say is about the entire saga “patience is a virtue” Indeed and also ignore the media fest Simon Jordan et al will launch this week. REDCAR and Ramarena 2 Link to comment Share on other sites More sharing options...
CornwallRam Posted June 19, 2022 Share Posted June 19, 2022 3 hours ago, G STAR RAM said: No we didn't owe £193m on entering administration. There is not £123m that MM could have claimed from the club. You cannot buy shares in a company and then claim the money back if things go tits up. But that is exactly what the figure that you have quoted for Stoke includes. I'd also say that your premise that we didn't owe that figure is a little shaky as it's listed as an unsecured debt in the administrators' report. Just because it was 'borrowed' from one of Mel's other companies, does not mean it didn't exist or was unrecoverable. It was not equity or a director's loan. It's possible that it became unrecoverable as soon as Gellaw went into administration though, so Mel had no choice but to write it off. Link to comment Share on other sites More sharing options...
Ghost of Clough Posted June 19, 2022 Share Posted June 19, 2022 8 minutes ago, atherstoneram said: At this time i think it's more about funding next season than the squad. That's a completely different issue to the one where people insist we only have 5 players for next season. atherstoneram 1 Link to comment Share on other sites More sharing options...
PistoldPete Posted June 19, 2022 Share Posted June 19, 2022 3 minutes ago, RoyMac5 said: It also said when he returned with a higher bid they'd given exclusivity to CK. If after announcing post-CK that it's best and final bids, you'd think if we are worth it someone would have matched CKs bid? I don't know how low a bid we can go without being kicked out the League, does it depend on how the bid is divvied up? I think that as Birch went into Portsmouth and sorted out their administrators - including one of the current head honchos at Q, then yes they do know how to deal with it. Oh OK. Birch gives every indication of not having a Scoobies, as does Parry. jimtastic56 1 Link to comment Share on other sites More sharing options...
CornwallRam Posted June 19, 2022 Share Posted June 19, 2022 1 hour ago, G STAR RAM said: There is no directors loan in The Derby County Football Club Limited, that's not my opinion, thats a fact in black and white in the public domain. MM is owed money from Gellaw but that is not the responsibility of the football club. It is because the companies are linked in a joint administration. The DCFC Ltd, Club DCFC, Stadia DCFC, Gellaw 203 and Sevco 5112 are all in joint administration. If you look at the administrators' statement, their figures are combined as a grand total. I imagine that Gellaw and Sevco will be liquidated and neither have significant creditor claims, meaning that Mel hasn't tried to enforce the loans as debts - but that doesn't mean he could not have done. I assume he knows that if he did, it would just guarantee liquidation and he'd have no chance of recouping any of his money from the stadium. angieram 1 Link to comment Share on other sites More sharing options...
Shuff264 Posted June 19, 2022 Share Posted June 19, 2022 Link to comment Share on other sites More sharing options...
RoyMac5 Posted June 19, 2022 Share Posted June 19, 2022 12 minutes ago, PistoldPete said: Oh OK. Birch gives every indication of not having a Scoobies, as does Parry. He's different gravy I think? Interesting bit here in the Guardian from 2012: "The appointment of Trevor Birch as the administrator of Portsmouth is facing a further challenge from other accountants who claim he should not have been given the role due to a conflict of interest. Birch was appointed to the position at the high court on Friday instead of Andrew Andronikou, of UHY Hacker Young, who is the administrator of Portsmouth's holding company, Convers Sports Initiatives and, formerly, of the club itself. Andronikou was set to be appointed as the administrator of the club again when Portsmouth went into administration for the second time last week; but Her Majesty's Revenue and Customs protested that Andronikou had "issues of conflict" given his previous roles. HMRC asked for Birch, formerly the chief executive at Chelsea, Leeds and Sheffield United when they were financially stricken, to be appointed instead." Guess where Andrew is now (here's a hint ? there's a Q in the name). downsouth 1 Link to comment Share on other sites More sharing options...
G STAR RAM Posted June 19, 2022 Share Posted June 19, 2022 1 hour ago, angieram said: Can you tell me what it is then GStar? Because it was definitely covered at the time when we were discussing going to play our football elsewhere as something that Mel Morris would demand if we did abandon Pride Park. I recall it was as an unsecured creditor because the actual cost of adding it to the club's debt at 25% would have been around £32 million. If it wasn't a loan, what was it? Are you saying it was a different form of investment, I seem to recall the word equity being used at the time? Are we arguing here about what is is called, or whether he could do it? MM made a loan to Gellaw (I think it was), Gellaw then used the money to purchase shares in DCFC. Gellaw owes MM the money not DCFC. So yes MM may have to write off his £123m loan but it has no effect on DCFC. angieram and Carnero 1 1 Link to comment Share on other sites More sharing options...
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