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The Administration Thread


Boycie

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1 hour ago, hintonsboots said:

Good point and a shame we couldn’t hang on to them. I presume DC will bring in a new recruitment team ? 

Why? I suspect he would admit it himself that, apart from bringing the money in, he’s a business man with no knowledge of the football side of running this club. If he’s happy with the recruitment side of things last season then why would he want to change the recruitment team? 
 

I reckon the only person/people who might want to change things is the new permanent manager (or DoF if we get one) not DC.

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27 minutes ago, cosmic said:

What's the debate here now we're almost saved? The ineptitude of Quantuma and the EFL, as well as the Sports Minister for not intervening? Seems too little too late, now.

It would be good once we are out of it, to keep the pressure on the EFL and make them pay for their incompetence. 

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you would be correct in saying our revenues are an advantage in league one yes, but we will also have debts to pay which will take a large chunk out of those revenues unless clowes is willing to wipe all debts but i cant see that happening unforuntaely.

 

we still owe a lot of money to football creditors which will have to go out of accounts so anybody expecting us to start spending any amount of money on transfer fees will probably be mistaken.

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6 minutes ago, alram said:

we still owe a lot of money to football creditors which will have to go out of accounts so anybody expecting us to start spending any amount of money on transfer fees will probably be mistaken.

How many years do we get to pay them off , I thought they had to be paid in full on the point of take over i.e in the purchase price

 

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46 minutes ago, Tamworthram said:

Why? I suspect he would admit it himself that, apart from bringing the money in, he’s a business man with no knowledge of the football side of running this club. If he’s happy with the recruitment side of things last season then why would he want to change the recruitment team? 
 

I reckon the only person/people who might want to change things is the new permanent manager (or DoF if we get one) not DC.

We need to add to the recruitment team because it was decimated by redundancies following administration

Edited by Brailsford Ram
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14 minutes ago, alram said:

you would be correct in saying our revenues are an advantage in league one yes, but we will also have debts to pay which will take a large chunk out of those revenues unless clowes is willing to wipe all debts but i cant see that happening unforuntaely.

 

we still owe a lot of money to football creditors which will have to go out of accounts so anybody expecting us to start spending any amount of money on transfer fees will probably be mistaken.

I thought to exit admin you had to pay football creditors 100%. So what further debt are you on about?

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34 minutes ago, alram said:

you would be correct in saying our revenues are an advantage in league one yes, but we will also have debts to pay which will take a large chunk out of those revenues unless clowes is willing to wipe all debts but i cant see that happening unforuntaely.

 

we still owe a lot of money to football creditors which will have to go out of accounts so anybody expecting us to start spending any amount of money on transfer fees will probably be mistaken.

It's already taken account of in the accounts? So won't be a FFP issue as in having to record these debts this season for example? 

And the cash will already be accounted for as part of the bid?

I agree with shouldn't be spending anything on fees and run the club within its means, but these won't impact the day to day running, finances or this year's accounts? 

 

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37 minutes ago, alram said:

you would be correct in saying our revenues are an advantage in league one yes, but we will also have debts to pay which will take a large chunk out of those revenues unless clowes is willing to wipe all debts but i cant see that happening unforuntaely.

 

we still owe a lot of money to football creditors which will have to go out of accounts so anybody expecting us to start spending any amount of money on transfer fees will probably be mistaken.

Read up on the exiting admin rules

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35 minutes ago, alram said:

you would be correct in saying our revenues are an advantage in league one yes, but we will also have debts to pay which will take a large chunk out of those revenues unless clowes is willing to wipe all debts but i cant see that happening unforuntaely.

 

we still owe a lot of money to football creditors which will have to go out of accounts so anybody expecting us to start spending any amount of money on transfer fees will probably be mistaken.

The money DC is paying the administrators has to be used to pay the football creditors in full and then an agreement with the non-football creditors, which will be made up from immediate payments out of the purchase cost and staged payments to meet the agreed final total. Whether these staged payments will have to be covered by Derby's income or further payments direct from the new owner, I don't know.

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19 minutes ago, Seth's left foot said:

Now I’m not saying I have any ITK knowledge but I’ve just been told that the takeover is completed and may be announced this evening.

Here’s hoping ?

 

I understand the caution, but I wish you'd gone all out and said it's 100% going to be announced tonight. Far more entertaining. Go big or go home!

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24 minutes ago, Seth's left foot said:

Now I’m not saying I have any ITK knowledge but I’ve just been told that the takeover is completed and may be announced this evening.

Here’s hoping ?

 

There will be dancing in the Streets of Derby tonight then ?

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I'm going to assume the best and hope to see Clowes complete the takeover today or tomorrow.

If that proves to be correct, it's amazing how uncomplicated it suddenly seems to have become. As soon as someone appears with the will and the finances, the deal breezes through. No bank holiday issues, no complaints in the press about being ignored by Quantuma, nothing held up by anti-money laundering checks etc 

It's almost like the others were cheapskates or fantasists. 

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