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The Administration Thread


Boycie

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10 minutes ago, Mihangel said:

A little nuance in the statements - Clowes has bought the company that owes the stadium rather than the stadium itself so one could assume from that that the debt still exists within that company. Unless some deal was done with MM of course....

Well spotted. So that would suggest that DC has taken over the loan and that MSD have agreed to continue it, so reducing the need for ready cash to pay it off at this stage..However, both DC and the EFL in statements refer to the sale and purchase of the stadium so it clearly has changed hands.

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5 hours ago, uttoxram75 said:

Mostyn, you’ve inspired me to quote Shakespeare’s Henry V
??❤️

We few, we happy few,

we happy band of brothers

for he today that shares his Bass with me

shall be my brother. 

Forgive me, but I thought that it was

We few, we happy few,

We happy band of bugg**ed.

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1 hour ago, jono said:

I’m guessing here …

Derby County Owed MSD a certain amount of money. In that sense MSD we’re a creditor and on the books. The security for the loan though, was against the stadium which was owned by Mel. Mel couldn’t therefore sell the stadium until the charge was settled. I’d suggest therefore that it is exactly like selling your house. You get the proceeds less what was owed to the building soc, which is then paid to them by the solicitors completing the deal. So I would guess DC bought the stadium from Mel and Mels solicitors forwarded part of the proceeds to MSD in settlement of the debt that was on DCFC’s books. So yes .. it should have gone. I doubt MSD have any unsecured loans to DCFC. Those sort of people just don’t lend money without lots of tangible security. What I am not sure about is the alleged further loans from MSD during last season . Did they get guaranteed by the stadium too or is another complex financial instrument in play ? 

£1.5m additional MSD loan was secured against leaseholds and other assets. Will need to be repaid by the new owner I believe.

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