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The Administration Thread


Boycie

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1 hour ago, Crewton said:

On what basis could Ashley sue Clowes? MA doesn't have a divine right to have everyone step aside if he wants something. If Q accepts DC's offer, Ashley's gripe would be with Q, not DC.

It’s the way he carries on though. 

don’t think it’ll happen, but if he decides he wants the club, he’ll make an offer that gives unsecured creditors a better outcome than say DC’s offer. 

If DC tried to block him, I’d think Ashley would threaten to sue him. What for? Conspiring with q to act in breach of their statutory duties is one option. His lawyers would no doubt think of other spurious suits 

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38 minutes ago, kevinhectoring said:

It’s the way he carries on though. 

don’t think it’ll happen, but if he decides he wants the club, he’ll make an offer that gives unsecured creditors a better outcome than say DC’s offer. 

If DC tried to block him, I’d think Ashley would threaten to sue him. What for? Conspiring with q to act in breach of their statutory duties is one option. His lawyers would no doubt think of other spurious suits 

DC cannot block Ashley, the decision who has put in the best bid for the benefit of the creditors is solely down to the Administrators. 

Edited by Elwood P Dowd
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9 hours ago, Ghost of Clough said:

Our revenue this season will be triple the average for a League 1 side.

Doesn't matter what our revenue will be, we will still have to work to a business plan with the EFL which will no doubt put a ceiling on transfers and wages offered. The EFL will not allow the club to go offering massive transfers or contracts when creditors have only been offered 25%.

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I’m assuming these are just wild rumors about MA. As if he all of a sudden wanted to plunk down a large bid, it doesn’t make a ton of sense. As all involved (supporters included) will say something like:

 ‘you were prepared to pay THIS much the entire time, yet you let the club bleed and lose assets…for what?!’

Also, with Clowes now owning PP- I suppose he could say the cost of that stadium has now doubled. As it’s no longer a distressed asset, and in good standing. Same with the club. If Clowes is essentially signed off with ‘saving’ the club, by providing enough funding, Then MA has lost the position of being able to say HE saved the club. At this point he would just be wresting the club away from the person that was first through the wall to actually save the club.  ?‍♂️  
 

Regardless- if MA were to come in with a larger bid at this stage, would be viewed as a pretty crap move as far as common decency is concerned, and would actually be against good-faith negotiating practices. Basically every business entity involved would think he’s a douche-bag for doing it this way. And his credibility/trust would be eroded a fair bit. 

Edited by Hanny
Clarity
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3 hours ago, Oldben said:

Only in Yorkshire would the phrasing ‘supercomputer’ be taken at face value.

“It’s been dun by one o’ them soopercomputers they have in t’london”

Edited by TuffLuff
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41 minutes ago, kevinhectoring said:

Except that DC now owns the stadium 

The stadium is and has been totally separate from the work the Administrators have been tasked with, the ownership of the stadium has no bearing on the decision the Administrators have to make. 
 

I am sure DC, through his company, rents/lease lots of property to a wide range of individuals and companies.

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35 minutes ago, Hanny said:

I’m assuming these are just wild rumors about MA. As if he all of a sudden wanted to plunk down a large bid, it doesn’t make a ton of sense. As all involved (supporters included) will say something like:

 ‘you were prepared to pay THIS much the entire time, yet you let the club bleed and lose assets…for what?!’

Also, with Clowes now owning PP- I suppose he could say the cost of that stadium has now doubled. As it’s no longer a distressed asset, and in good standing. Same with the club. If Clowes is essentially signed off with ‘saving’ the club, by providing enough funding, Then MA has lost the position of being able to say HE saved the club. At this point he would just be wresting the club away from the person that was first through the wall to actually save the club.  ?‍♂️  
 

Regardless- if MA were to come in with a larger bid at this stage, would be viewed as a pretty crap move as far as common decency is concerned, and would actually be against good-faith negotiating practices. Basically every business entity involved would think he’s a douche-bag for doing it this way. And his credibility/trust would be eroded a fair bit. 

The stadium is a lame duck until someone plays in it.  

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36 minutes ago, Hanny said:

I’m assuming these are just wild rumors about MA. As if he all of a sudden wanted to plunk down a large bid, it doesn’t make a ton of sense. As all involved (supporters included) will say something like:

 ‘you were prepared to pay THIS much the entire time, yet you let the club bleed and lose assets…for what?!’

Also, with Clowes now owning PP- I suppose he could say the cost of that stadium has now doubled. As it’s no longer a distressed asset, and in good standing. Same with the club. If Clowes is essentially signed off with ‘saving’ the club, by providing enough funding, Then MA has lost the position of being able to say HE saved the club. At this point he would just be wresting the club away from the person that was first through the wall to actually save the club.  ?‍♂️  
 

Regardless- if MA were to come in with a larger bid at this stage, would be viewed as a pretty crap move as far as common decency is concerned, and would actually be against good-faith negotiating practices. Basically every business entity involved would think he’s a douche-bag for doing it this way. And his credibility/trust would be eroded a fair bit. 

Also, I’ve seen nothing to suggest MA is offering more. This unattributed rumour seems pretty selective in offering enough to give more to creditors - presumably Quantuma have to agree to drop their fee, and the stadium is someone else’s concern. Smacks of a sound bite designed to sow doubt and confusion. 
 

Truth is, many speculated that MA was going to covertly buy Pride Park off Mel to put himself in the box seat over a takeover - and he’s probably miffed that someone else has done exactly that. Instead of endless press briefing in the margins, he could’ve actually put a bid in. He didn’t. It’d be better for everyone, not least DCFC, if he stopped actively trying to turn us into the kind of basket case business he usually snaps up for pennies. 

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1 minute ago, Indy said:

Also, I’ve seen nothing to suggest MA is offering more. This unattributed rumour seems pretty selective in offering enough to give more to creditors - presumably Quantuma have to agree to drop their fee, and the stadium is someone else’s concern. Smacks of a sound bite designed to sow doubt and confusion. 
 

Truth is, many speculated that MA was going to covertly buy Pride Park off Mel to put himself in the box seat over a takeover - and he’s probably miffed that someone else has done exactly that. Instead of endless press briefing in the margins, he could’ve actually put a bid in. He didn’t. It’d be better for everyone, not least DCFC, if he stopped actively trying to turn us into the kind of basket case business he usually snaps up for pennies. 

Does the same apply to Appleby?

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9 hours ago, Mostyn6 said:

Gossip alert 

there’s a bit of gossip. Potentially mischief making, but amusing nonetheless. 
 

Mike Ashley has submitted a bid equal to 37p in the pound on the basis that rival bidders have to match or better this, otherwise Quantuma are legally obliged to accept it. 

It seemed Clowes was originally buying Pride Park to help get the Kirchner bid over the line. When that bid fell apart, it looked a risk that the club would go under so DC has stepped all in to untangle the problems (that he'd been privy too seeing the deal negotiated with Kirchner) and take the club on. But I don't believe Clowes has the financial wherewithal to fund the club long term - as a fan he appears to have done us a massive service but surely the plan is to steer us through choppy waters before handing us on to someone who can take us forward?

To do that it may yet be possible for Clowes and Ashley to come to an accord. If Ashley wants us. And if Clowes can get the right commitments out of him, demonstrating he's learnt from some of the mistakes he made at Newcastle.

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