The Administration Thread

[Turk Thrust]

41 minutes ago, jono said:

Well if it’s a game of poker then it isn’t a regulation is it. Q will and are talking with the EFL, the bidders know they will have to deal with the EFL. The only thing Q have said is that we are legally obliged to keep the details of our bidders commercially private. The Bidders will doubtless make contact with you at the appropriate time. The parameters for retaining our golden share and payment of football creditors are laid out clearly. Other than the fit and proper persons test and the need to make a fixture list there isn’t anything else that is the EFL’s business. The ELF make the rules of the football league but they don’t make the rules on commercial and company law. Now the EFL could decide to turn nasty, vindictive, invent or reinterpret rules … but that isn’t Q’s fault or Derby’s fault. 
 

The EFL should be saying nothing more than : “we await a formal approach from the winning bidder and look forward to working with them as soon as possible.”  Or “we await Q’s confirmation that DCFC intend to start next season in administration (with suitable a suitable funding model) while the proposed takeover negotiations  progress. We stand ready to respond promptly and reasonably to their proposals” 

It’s no good pointing all this out to our Kev. He just doesn’t seem to grasp the basics of data protection law, or NDAs. Several posters have told him but he just keeps banging on about it. I give up. ?

[I know nuffin]

1 hour ago, RoyMac5 said:

They could, errr request a transfer?

Yes but on a free they get a massive signing on fee

[RoyMac5]

Just now, I know nuffin said:

Yes but on a free they get a massive signing on fee

Yes I know that. I was replying to another point.

[jono]

18 minutes ago, kevinhectoring said:

Fair enough, you think the EFL’s involvement will not help the process - that’s the nub of it. For reasons I’ve set out, that’s not my view

Having said that, I think Appleby is a straightforward individual. I don’t think q have the wherewithal to deal with an Ashley but I’d think it’s more than likely q will be able to finalise a deal with Appleby. And I don’t think the EFl will punish us for not abiding by their condition. So not Q’s worst decision 
 

 

Not quite. It’s not a case of the EFL’s involvement helping or not helping. DCFC are still a member of the EFL. The EFL should be helping it in these difficult circumstances, especially as the club has been sanctioned according to the rules over a prolonged period at the behest of other members. That part is done and dusted. We are now a member pure and simple. Our “trade association” is ( or effing well should be ) bound to assist members. That assistance cannot be muddied by past actions for which justice has already been served. And it cannot and should not be conditional on DCFC to act in a certain way in areas governed by commercial law rather than their rules.  The EFL well understand this but are desperate to get their fingers in the pie to justify their   position. It’s a power play and it makes me want to throw up. If they were honest even handed and open they should be falling over themselves saying “what do you need to sort this.”
 

 Not the usual “disappointment” and “if only” or whatever snivelling weasel words they chose. They have a man on the board who was disqualified as a company director for diverting funds in to his own bank account. They went for us because they were threatened by another member. They are weak, cowardly and employ persons of bad character. 
It’s an organisation without morals or ethics. A fit a proper persons test ? And people like Peter Ridsdale is on the board ? 

PS .. you may just detect from the above that I have nothing but contempt and suspicion whenever they say anything. 
 

rant over (for now) 

[duncanjwitham]

14 minutes ago, Crewton said:

So it is technically still a CVA, but one where unsecured creditors have to be paid the 25/35% minimum in order to avoid EFL sanctions?

This is getting well outside of my knowledge comfort zone (so usual caveats etc), but as I understand it, it doesn't have to be a CVA at all now.  There's a lot more scope for agreements that compress some claims down to nothing (if they're in a lower preference class) - you only need agreement from the highest class to force the lower classes to accept.  I'm not sure if it affects us that much though, given that HMRC are in a higher class and probably have 75% of the votes by value anyway (depending on how MSD are treated etc).

I think the 25%/35% thing goes hand in hand with the removal of the CVA requirement - you can now exit admin with plans that screw creditors a lot more, but you'll get points deductions applied if you do it.

[TooFarInToTurnRed]

1 hour ago, Carnero said:

They won't be offered terms of a lower value though will they. The terms will be EXACTLY THE SAME, the only difference being the company name that's on the contract.

You don’t even necessarily get a new contract as when I got TUPE’d it was just a letter telling me that I was being transferred to the new company on a date and my contractually terms remain the same.

If players object to the TUPE then surely OldCo still own the registrations and could possibly pay the wages until able to sell them separately? Think refusing means they cannot transfer to NewCo not that they are no longer contracted although guess that gets messy as the OldCo would no be a recognised football club. Could end up sitting in limbo for a while whilst it got sorted. 

[Comrade 86]

Here's a dog who should have gone to SpecSavers....

[Phuket Ram]

1 hour ago, B4ev6is said:

My point is if mk Don's can stay in football league so can we that's my point.

But MK Dons just changed their name from Wimbledon and moved to Milton Keynes. Not remotely similar to our situation mate.

[RoyMac5]

*shrugs*

 

[Carnero]

13 minutes ago, TooFarInToTurnRed said:

You don’t even necessarily get a new contract as when I got TUPE’d it was just a letter telling me that I was being transferred to the new company on a date and my contractually terms remain the same.

If players object to the TUPE then surely OldCo still own the registrations and could possibly pay the wages until able to sell them separately? Think refusing means they cannot transfer to NewCo not that they are no longer contracted although guess that gets messy as the OldCo would no be a recognised football club. Could end up sitting in limbo for a while whilst it got sorted. 

Agreed.

The players registrations are what hold the value anyway, not the employment contact.

They can tear up the employment contract all they like, we'll still retain the player registrations so they can't play for another club without this being transferred to a new club.

Edited June 22, 2022 by Carnero

[Hans Datdo-Dishes]

1 hour ago, hintonsboots said:

Well AA has certainly got some stamina if he’s still on the final few strokes. 

It'd be like a blind cobbler's thumb by now. 

[FindernRam]

To sum up the 10 days I've been out of the loop

We may be bought by someone beginning with A. This may happen on Thursday or Friday. Or not 

The EFL may or may not throw procedural rocks at us to save face or punish us.

We may or may not get deducted anything between 0 and 15 points.

 The puns are still terrible 

@B4ev6isis still a beacon of positive light to us all.

[B4ev6is]

17 minutes ago, Phuket Ram said:

But MK Dons just changed their name from Wimbledon and moved to Milton Keynes. Not remotely similar to our situation mate.

How is not the same team change names that is all the difference is.

[KBB]

2 minutes ago, B4ev6is said:

How is not the same team change names that is all the difference is.

I'm pretty sure a few Wimbledon fans might disagree with you..... what happened there was a disgrace to English football.

[Barney1991]

Just guess work but I have a feeling the local group who were mentioned few days back might be part of the Appleby group maybe. Clowes got the stadium sorted and applebys side sort the club and then join both together to form the board. Total guesswork and probably wrong 

[May Contain Nuts]

1 hour ago, Unlucky Alf said:

I think he's a late cummer 

I heard a rumour that he was on the verge of investing some money into Cardiff. After edging closer and closer to depositing his wad the Cardiff owner upped his demands. This lead to Appleby pulling out, believing Vincent Tan tricked him.

[Joe]

Critical time now before Monday when pre-season training starts, if that begins with 5 to 7 players then Rooney will surely go followed by Rosenoir. Expect the club to announce trials for players on the Racecourse for next Tuesday night.

Edited June 22, 2022 by Joe
spelling error

[De22Ram]

https://www.telegraph.co.uk/football/2022/06/22/mike-ashley-rivals-andrew-appleby-group-50m-deposit-ready-save/

[Elwood P Dowd]

4 minutes ago, De22Ram said:

https://www.telegraph.co.uk/football/2022/06/22/mike-ashley-rivals-andrew-appleby-group-50m-deposit-ready-save/

It’s certainly his methodology 

[StarterForTen]

This whole TUPE thing; it’s nonsense unless the club gets liquidated. The Administrators are selling the business ‘Derby County Football Club Limited’ as a going concern so the players would not be changing employers - just that the company that employs them has new owners.