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The Administration Thread


Boycie

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1 minute ago, Unlucky Alf said:

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 ?

Is that one of them cards that gets you rewards and benefits etc? Does it cost you monthly just to use the account and benefits?  Some paid for accounts can be worth it I guess with travel insurance etc.

Anyway, back on topic, cash your RR pension in Alf, that’ll buy the club no problem! ?

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8 hours ago, Rammy03 said:

This is the likely scenario. But its still odd. Kirchner has wasted all this time and put our club further into the s****. Tom Lawrence must be a right plonker to post that photo

Tome Lawrence gets caught up in Joiner gate, Tom Lawrence is fined and suspended for Joiner Gate, Tom Lawrence gets yet another red card, Tom Lawrence goes out boozing with the yank in Derby town centre, Tom Lawrence has his picture taken with the yank.

Yep...a right plonker

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22 minutes ago, alram said:

Grow up like seriously, you sound like. 10 year old child.

you don’t blame them for wanting to share stuff with the efl? The governing body! if the incoming buyers don’t want to share stuff with the people that will sign off any deal then we should be saying bye bye.

it’s not in the interests of the EFL to see us go bust, as much as people have convinced  them self into thinking it is. 
the only blockage is Q

You just can’t see it can you .

The EFL have caused all this. 
 

What don’t you get about their historical actions against DCFC .

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25 minutes ago, Boycie said:

Is that one of them cards that gets you rewards and benefits etc? Does it cost you monthly just to use the account and benefits?  Some paid for accounts can be worth it I guess with travel insurance etc.

Anyway, back on topic, cash your RR pension in Alf, that’ll buy the club no problem! ?

The card puts me in the premium category for discounts I don't sign up for them as I can't be ar$ed or they are of no use to me, My RR pension plus my added AVCs was something Mystic Meg advised me on ?

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@alramso as not to muddy the waters can we just discuss one subject at a time.

Ive gone to the trouble of screenshotting the club balance sheets as at 30 June 2014 and 2018.

If MM was not introducing his money as equity, would you be kind enough to explain to us why the share capital and share premium accounts increased from £50m at 30 June 2014, to £163m at 30 June 2018. Thanks.

Screenshot_20220620-080808_Drive.jpg

Screenshot_20220620-080643_Drive.jpg

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23 minutes ago, Curtains said:

The debt was possibly manageable but the EFL had it in for MM and DCFC and then came the EFL charges along with Covid 19 which for Mel was the final straw because he wanted out and couldn’t sell the club. 
I remember starting a thread is administration the best option for

MM now and I got laughed out of court on here. 
 

Fact is Mel wanted out and still does but if he had kept funding us at a massive loss it wouldn’t have been in his best interests.

So IMO the EFL did Mel and DCFC with punitive charges and Mel said allegedly I’ve had enough 

Omg!

Thank you for your input Mel Morris 

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6 hours ago, Phuket Ram said:

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. 

Thanks for checking. It's what I deduced from Q's document, but I was far from certain. Like you, I'm not sure what the additional loans are secured against, but it could mean, perhaps, that the stadium price is still the value of the original MSD loan. 

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8 minutes ago, PistoldPete said:

Well a private buyer (believed to be Clowes) agreed the purchase of PPS. Or do you think he was really another crypto guy with only monopoly money?

So why didn’t he carry on with the purchase?

if he got it for £23 million then he’d probably make a profit out of flattening it and building on it, so no risk!

it’s all lies and damn lies, MM wanted to raise us to the ground and he’s succeeded.

Why? I don’t know!

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Without responding to specific posts, I don't blame Quantuma for keeping the details of the bids confidential until they've got to an acceptable bid. The EFL has clearly leaked like a sieve during the whole process, with details from closed meetings being fed to selected journalists (does anyone think that this hasn't been happening?!) If the bidders have also demanded that the details of their bids is kept confidential, would some of you prefer it if their bids were disregarded? 

It would be ideal to have the game's governing body fully engaged in this process, but when they've clearly shown that they can't keep discipline within their own organisation, and there are serious concerns about the intentions of some of the club representatives towards DCFC, I'm not surprised that both Quantuma and the bidding parties are reluctant to trust them. 

 

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6 minutes ago, Gritstone Tup said:

So why didn’t he carry on with the purchase?

if he got it for £23 million then he’d probably make a profit out of flattening it and building on it, so no risk!

it’s all lies and damn lies, MM wanted to raise us to the ground and he’s succeeded.

Why? I don’t know!

Ck was taking over the club and signing a lease with the new owner, the Ck side of that deal fell through. One option could now be that the agreed buyer of Pps buys the club as well. 

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Just to add to the above, I spoke to a West Ham fan yesterday and he said when Upton Park was sold they sold every seat for £400. That’s £12 million right there for Clowes or MM to dip their snouts into. On top of that, all they did to UP and Highbury is make the pitch into gardens and turn the stands into luxury flats, so no expensive clearance costs either.

In short, it’s a very good investment for a redeveloper and where the money is in this whole saga, I’m afraid.

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