The Administration Thread

[B4ev6is]

Look if tom throught about it if wanted picture him fine but dont post on twitter but could kepted on his person photos on his phone or on his computer.

I love to see how rooney deals with this I bet he wont be pleased with him one bit.

[Gritstone Tup]

I’m playing devils advocate a little here but the TL photo dosent surprise me that much. There are so many people within the club who’ve been lied to constantly all season. Rooney was lied to by MM, Q and Kirchner and WR has also mislead the players by repeating such nonsense as a caveat to “stay with us we’re going to be massive when all this is sorted.”  If TL had requested a move in January he’d possibly be playing PL with Bournemouth next season.

[kevinhectoring]

3 hours ago, nogbad van 50 said:

“ Before a sale is finalised, there is an immediate requirement to secure the short-term future of the club, to allow players to be signed, issue season tickets for sale and to secure commercial agreements, as well as our best intentions to bring the uncertainty for staff and supporters to an end as soon as possible.”

……………..

It’s been a long day and fatigue has set in but I’m confused by this part of Q’s statement.If they “ secure the short-term future of the club” via another loan or a player sale,who actually then authorises the signing of players or the issue of season tickets if a new owner isn’t actually in place? Is that onus on Q ?

 You could not make it up. We’re in a crisis and the first substantive statement from our esteemed administrators for ages is not about the club but about ... them 

[Dave Mackay Ate My Hamster]

3 minutes ago, kevinhectoring said:

 You could not make it up. We’re in a crisis and the first substantive statement from our esteemed administrators for ages is not about the club but about ... them 

Absolutely. It smacks of bleating and self-pity. Also totally playing hardball.

So, despite their incompetence, their primary concern is " It ain't happening if we don't get paid "

We seemed to be being passed from one vipers nest to another. Our fate is in the hands of many organisations who's only motivation is self-interest.

There's a decent offer on the table from Appleby's consortium, probably more than we're worth in our current parlous financial position, but the field of play in which we're horse-trading in allows any of 4 or 5 parties to veto our salvation for reasons of self-interest.

It's truly ducking depressing!

[kevinhectoring]

This is a bizarre forum

it’s now obvious that our interests and the EFL’s interests are aligned. They want us free from all of this, because if we are liquidated they will get it in the neck.

We also know that EFl involvement in the M&A process will be to our benefit - because only serious bidders will be willing to allow the EFl to see negotiations, because if the EFl is involved they can give a real time response to bidder questions about the (non- transparent) EFl  insolvency rules; and because q have been turned inside out by bidders who are far savvier than they are and the EFL’s involvement will moderate behaviour. 
 

But still there is a vocal group of posters who support q in their attempt to exclude the EFL from the process 

Q’s position on this is spurious and confirms that - contrary to the club’s interests - they will throw the dice and seek to do a deal themselves, rather than be seen to seek EFL help.

They should simply be telling bidders: thank you for your interest, we will take you forward to bid stage but only when you have confirmed we may share all documentation with EFL. Genuine bidders should have no problem with this. We don’t want the rest   

[JfR]

With all these golf pictures of Kirchner, do you think he just got the wrong end of the stick when someone asked if he wants to buy a club.

[Phuket Ram]

15 hours ago, Crewton said:

Just a thought : the Administrators latest report said that the additional loans from MSD were secured by a Debenture (i.e a different form of security to the original £20m loan), so perhaps the additional funds are secured against the football club assets alone? 

I looked again at this, Crewton, and although the MSD fixed charges do cover the property leases, I stupidly didn't read far enough to notice that they were signed by Carl Jackson, from Q!!  So you are right - the additional loans from MSD from November 2021 are not secured by the Stadium, but by other DCFC leasehold assets. What this means then, is that the Stadium price is not increasing; and the subsequent loans can be repaid separately (although MSD still secured creditors). Got there in the end lol. 

[Bris Vegas]

1 hour ago, JfR said:

With all these golf pictures of Kirchner, do you think he just got the wrong end of the stick when someone asked if he wants to buy a club.

I think it was a simple case of being putt off by the enormity of the task.

[I know nuffin]

6 hours ago, Caerphilly Ram said:

Of course, many golfists will fall under those other categories you mentioned. This might sound rough but it drives me a fairway round the twist that all these wealthy folk stroll around playing golf all day, makes me green with envy.

Cannot pick a hole in your arguement 

[Curtains]

So if Option 1 or 2 are not satisfied by potential bidders then it’s not clear what EFL will do according to Q statement.

Looks like no potential bidders have bid enough at this point to satisfy either option allegedly.

Q will have to find funding for coming season or we fold into Liquidation.

Q are confident they can find contingency funds !

Does that sum it up ? Or does a little Birdie know otherwise 

Edited June 20, 2022 by Curtains
Altered

[FlyBritishMidland]

7 hours ago, Ghost of Clough said:

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

Probably more than that.  Curtis said in his interview at the weekend that Quantuma have tried to run it like a football club to help the players.  They didn’t trim that much on operating costs, etc to give us a fighting chance.  OK, that might mean we have bigger debts for a new owner.  But if they had asset stripped, what would have been the view in January??

[jimtastic56]

7 hours ago, atherstoneram said:

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

Would they be Cuban Heels like the ones Mini-Mel wears to strut around Pride Park “Like He Owns It”

[G STAR RAM]

7 hours ago, kevinhectoring said:

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

That is my understanding too, but I have no expertise whatsoever in the field of administration so did not say anything.

@CornwallRamhas obviously read something in the Administrators Report that has given them the impression that this is the case.

[Rampant]

4 hours ago, JfR said:

With all these golf pictures of Kirchner, do you think he just got the wrong end of the stick when someone asked if he wants to buy a club.

Possibly. Bemoaning his waywardness off the tee and claiming that a more erratic driver would be hard to find makes Tom Lawrence's arrival on the scene somewhat ironic.

[Curtains]

Q the song for Q is it on the fairway .

 

 

[PistoldPete]

5 hours ago, kevinhectoring said:

This is a bizarre forum

it’s now obvious that our interests and the EFL’s interests are aligned. They want us free from all of this, because if we are liquidated they will get it in the neck.

We also know that EFl involvement in the M&A process will be to our benefit - because only serious bidders will be willing to allow the EFl to see negotiations, because if the EFl is involved they can give a real time response to bidder questions about the (non- transparent) EFl  insolvency rules; and because q have been turned inside out by bidders who are far savvier than they are and the EFL’s involvement will moderate behaviour. 
 

But still there is a vocal group of posters who support q in their attempt to exclude the EFL from the process 

Q’s position on this is spurious and confirms that - contrary to the club’s interests - they will throw the dice and seek to do a deal themselves, rather than be seen to seek EFL help.

They should simply be telling bidders: thank you for your interest, we will take you forward to bid stage but only when you have confirmed we may share all documentation with EFL. Genuine bidders should have no problem with this. We don’t want the rest   

Q are having daily calls with EFL so hardly excluding them, and it is up to the bidders not to Q to decide at this stage what they want to share with EFL. FWIW I believe that our best hope now is local benefactors who are Rams fans. They are also the least likely to trust the EFL (as Rams fans , most of them anyway have seen how useless EFL are)  and I do not blame any such bidders (if they exist) in not wishing to share stuff with EFL.

   

[RipleyRich]

10 hours ago, DCFC1388 said:

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

I think the local businessmen story is just I'm afraid....rumours.

As for MSD loan. Will they loan anymore? Who or what can it be secured against? And in the end is more debt to be settled by any prospective buyers.

 

[alram]

6 hours ago, kevinhectoring said:

This is a bizarre forum

it’s now obvious that our interests and the EFL’s interests are aligned. They want us free from all of this, because if we are liquidated they will get it in the neck.

We also know that EFl involvement in the M&A process will be to our benefit - because only serious bidders will be willing to allow the EFl to see negotiations, because if the EFl is involved they can give a real time response to bidder questions about the (non- transparent) EFl  insolvency rules; and because q have been turned inside out by bidders who are far savvier than they are and the EFL’s involvement will moderate behaviour. 
 

But still there is a vocal group of posters who support q in their attempt to exclude the EFL from the process 

Q’s position on this is spurious and confirms that - contrary to the club’s interests - they will throw the dice and seek to do a deal themselves, rather than be seen to seek EFL help.

They should simply be telling bidders: thank you for your interest, we will take you forward to bid stage but only when you have confirmed we may share all documentation with EFL. Genuine bidders should have no problem with this. We don’t want the rest   

well said

 

too much sense in this post for some on here. there will be some that will defend q for liquidating us because they had no other options

 

they have done a terrible job, and continue to do a terrible job under the guidance of you know who.

 

the statement is awful, the blackballing of the EFL is even worse

[Ram-Alf]

7 hours ago, Boycie said:

You old fashioned fools, I use my Tesco card and pay off the balance in full every month then spend the club card points at Xmas on beer. No, not the Dutch s****.

You have to screw your loaf and make them work for you.

They say there's no fool like an old fool, And if it works for you then fare play, I've only borrowed once...a mortgage, 1st house £11.5k sold it for £37k around 1987, Bought and sold 7 property's since...made money on them all, Divorced split the proceeds 60/40 in her favour and I kept my RR shares ?

I'm one of those that don't like institutions knowing my business...is that good or bad? who knows, My life has worked for me, Comfortable without being extravagant, My Barclays Premium Debit Card takes care of my needs and wants ?

[Boycie]

4 minutes ago, RipleyRich said:

I think the local businessmen story is just I'm afraid....rumours.

As for MSD loan. Will they loan anymore? Who or what can it be secured against? And in the end is more debt to be settled by any prospective buyers.

 

Well yes, rumours until it’s proved.

Its easy to shrug off as the people who have spoken to the admins would like to remain anonymous at the moment.  But Clowes was one who was or is going to help get the sale done.