The Administration Thread

[Rammy03]

Just now, Ram1988 said:

 Surley he would have the sense not to post on Instagram unless something is going to happen?

Unless it's Tom's way of saying goodbye and sticking it to the fans if that is the case.

 

No I really don't think this would be the case. Tom has rebuilt his relationship with the fans. I think the most probable explanation is that he just didn't think about the whole CK takeover situation when he posted it. That or CK is not done with us yet.

[ram59]

The way I see it, is that ignoring any potential buyout, Q need to pay wages and running costs for June. The only income can be from a player sale or a loan, which is what they're doing. From July onwards, Q should be able to show that the club will receive an estimated income from ticket sales, commercial and tv. Set against estimated reduced costs, Q should be able to show that the club should be able to break even next season and encourage the EFL to allow them to put in motion the sale of season tickets, signing of commercial agreements and the signing of players.

This will buy time for the sale of the club to go ahead.

[Ram1988]

14 minutes ago, Rammy03 said:

No I really don't think this would be the case. Tom has rebuilt his relationship with the fans. I think the most probable explanation is that he just didn't think about the whole CK takeover situation when he posted it. That or CK is not done with us yet.

CK hasn't said anything in public so he could well try again with another offer?

 

[Rammy03]

Just now, Ram1988 said:

CK hasn't said anything in public so he could well try again with another offer?

 

That's what I suspect might happen

[RadioactiveWaste]

So what I'm taking from this is that all our conspiracy making has been going entirely the wrong direction.

The diabolical new world order is not a combination of evil governments and shady military industrial complex along with banks and the masons, it's actually golfists.

 

[Ram1988]

10 minutes ago, Rammy03 said:

That's what I suspect might happen

Sounds vesable to me. 

[Rammy03]

I think it's unfair that some fans are giving Lawrence stick over this. At the end of the day they're probably mates. We don't know why Kirchner's deal collapsed. He could be completely innocent and he's probably told Lawrence the truth. 

[Dave Mackay Ate My Hamster]

On a quiet weekend - lawyers don't work at weekends, no matter how urgent we see our situation -this is how I see it, for what it's worth.

Positives.

1. We have at least 3 serious interested parties. Appleby's consortium, Mike Ashley and Steve Morgan.

2. The new lowest figure to take us over with the ground has risen to £40m and at least Appleby's consortium are prepared to pay that. Whether either of the other parties are prepared to pay more is debatable, but in the absence of higher bids, that may become the " take it or leave it " price.

3. Mike Ashley hasn't gone away even knowing this bid.

Negatives.

1. Big Mike is peeved at his perceived ostracism from the process, after his initial low-ball offer, and has initiated legal challenges. This will get messy and delay us even further.

2. Quantuma's slow expedition of the process is incurring disproportionate costs and they're increasing day by day. You can't blame MA for challenging those costs.

3. The EFL have started to stick their oar in, demanding consultation that they're  not legally entitled to.

I think a deal will be struck. When there are no bidders that's the time to be worried, but the s*** show that Mel has sown is costing us legal and administrative fees unwrangling it.

MA is unprepared to pay those costs in full, understandably, I just hope that those costs don't escalate to a point where they actually scupper any rescue plan.

Worrying times, but liquidation suits nobody, particularly Quantuma, who need a buyer to pay their fees. I'm not sure they'll get all of them though, as they're growing to disproportionate amounts compared to the value of the club.

While there's still 3 interested parties, we will get it over the line. But how, and what condition we end up in after the process is anyone's guess... ?

Edited June 19, 2022 by Dave Mackay Ate My Hamster

[atherstoneram]

1 hour ago, DCFC1388 said:

MSD or the so called well healed local businessmen who are supposedly happy to fund until a takeover

The well heeled businessmen might be very wary of funding the club, at this time there doesn't seem to be a credible bid on the table. Come March if we are still in the same situation then our time in administration comes to an end and they have lost all their money

[CBRammette]

35 minutes ago, IslandExile said:

Quote from Quantuma's letter:

"Now that Mr Kirchner’s bid has been withdrawn, we will again report to the EFL upon receipt of a bid that satisfies 1) or 2).

We are bound by confidentiality agreements and so we cannot release the identities of the parties who have come forward, nor can we release any detail in relation to their interest or bids."

Everyone is reading that as meaning that no such satisfactory bid has yet been received, thereby contradicting the earlier reports of Appleby's bid.

However, I would say the key part is the last sentence above i.e.:

"nor can we release any detail in relation to their interest or bids."

So I'd suggest that they couldn't say even if they had received an acceptable bid from Appleby or anyone else.

I think its the "we will report...on receipt...." in future tense that has many worried as I read that as havent received and so havent reported. I suppose it could just be Q incompetence and the statement was drafted few days ago and its gone through people for approval and no-one updated!!

[atherstoneram]

38 minutes ago, Mckram said:

I saw that picture just now…is it definitely Kirchner?! 

It can't be, the blokes wearing a different shirt.

[CBRammette]

21 minutes ago, TheresOnlyWanChope said:

True, maybe not brightest move by Lawrence. Could be that Kirchener has explained to him, it was out of his control and his money really is being investigated or something. Maybe TL doesn't believe he really was a time waster or there is another side to the story we don't know about. Or TL just isn't very bright and loves golf. 

Think the last one!

[atherstoneram]

26 minutes ago, Mick Brolly said:

That's a bit boring make something up 

Tom going to play in the MLS.

[atherstoneram]

23 minutes ago, Rammy03 said:

No I really don't think this would be the case. Tom has rebuilt his relationship with the fans. I think the most probable explanation is that he just didn't think about the whole CK takeover situation when he posted it. That or CK is not done with us yet.

It was probably arranged weeks ago before everything went belly up, Tom's not going to cancel because of that,they do have a private life.

[kevinhectoring]

11 hours ago, CornwallRam said:

t 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.

This is not correct. Group Companies don’t become jointly liable just because they are in administration at the same time. 

[curb]

3 minutes ago, atherstoneram said:

It was probably arranged weeks ago before everything went belly up, Tom's not going to cancel because of that,they do have a private life.

…..and, TL isn’t going to play for us again, so who cares?

[Ghost of Clough]

1 hour ago, YouRams said:

Probably been spoken about earlier in the thread so apologies but i read earlier Q have racked up a bill of £7m!!! What the hell have they been doing to warrant charging £7m thats a farce! I hope Ashley puts them under.

Half of that figure was actually a loan to cover running costs last season.

[atherstoneram]

16 minutes ago, Dave Mackay Ate My Hamster said:

On a quiet weekend - lawyers don't work at weekends, no matter how urgent we see our situation -this is how I see it, for what it's worth.

Positives.

1. We have at least 3 serious interested parties. Appleby's consortium, Mike Ashley and Steve Morgan.

2. The new lowest figure to take us over with the ground has risen to £40m and at least Appleby's consortium are prepared to pay that. Whether either of the other parties are prepared to pay more is debatable, but in the absence of higher bids, that may become the " take it or leave it " price.

3. Mike Ashley hasn't gone away even knowing this bid.

Negatives.

1. Big Mike is peeved at his perceived ostracism from the process, after his initial low-ball offer, and has initiated legal challenges. This will get messy and delay us even further.

2. Quantuma's slow expedition of the process is incurring disproportionate costs and they're increasing day by day. You can't blame MA for challenging those costs.

3. The EFL have started to stick their oar in, demanding consultation that they're  not legally entitled to.

I think a deal will be struck. When there are no bidders that's the time to be worried, but the s*** show that Mel has sown is costing us legal and administrative fees unwrangling it.

MA is unprepared to pay those costs in full, understandably, I just hope that those costs don't escalate to a point where they actually scupper any rescue plan.

Worrying times, but liquidation suits nobody, particularly Quantuma, who need a buyer to pay their fees. I'm not sure they'll get all of them though, as they're growing to disproportionate amounts compared to the value of the club.

While there's still 3 interested parties, we will get it over the line. But how, and what condition we end up in after the process is anyone's guess... ?

Have you not read Quantuma's press release?

[Ambitious]

People are really getting upset that Lawrence is playing golf with Kirchner? As far as we understand, Kirchner was the person who paid the wages last month - in that case why would any of the players have animosity towards him? 

Honestly, how far down the rabbit hole do you have to be in order to give a toss who Lawrence, a player who 100% won't be here next season, is playing golf with? 

He could be playing the Islamic State open for me and I wouldn't bat an eyelid.  

[B4ev6is]

Well I do think appley has put in 50m bid but I think admin are waiting kircher offer to pulled off the table but tom lawance doing slapping derby fans in the face.