The Administration Thread

[Sheff Ram]

Positive story in the Mirror alert!!!

https://www.mirror.co.uk/sport/football/transfer-news/derby-rosenior-manager-transfer-news-27353132

[EDIT} apologies - already posted earlier. 

Edited June 29, 2022 by Sheff Ram

[ThePrisoner]

1 minute ago, Curtains said:

Do you believe he cashed out years ago or have you proof !

No I have no proof but it's what he said. Do you have proof he didn't? Don't act like you know for certain, I don't know. I'm just relaying what he said.

[Curtains]

1 minute ago, ThePrisoner said:

No I have no proof but it's what he said. Do you have proof he didn't? Don't act like you know for certain, I don't know. I'm just relaying what he said.

I’m not going to argue with you but the EFL saw proof of funds and so did Q .

His workers at his company in America allegedly didn’t get paid for a month  so it’s obvious he had cash flow problems .

 

[ThePrisoner]

Just now, Curtains said:

I’m not going to argue with you but the EFL saw proof of funds and so did Q .

So very likely he cashed out then like he said?

[Ian Buxton's Bat]

9 minutes ago, duncanjwitham said:

I agree that Quantuma felt Kirchner was basically it, especially if they had had no other viable bids made at that stage (6 months+ into the process).  And it absolutely made sense to give him as much chance as possible to complete the deal.   But I still don't see how it makes sense for Kirchner to be a proper chancer.  I just don't get what's in it for him.  The only thing that makes any sense for me, is that he did intend to buy the club, but either he genuinely had problems transferring the money over or got cold feet at the last minute.  He's convinced so many people that he was genuine (Quantuma, the EFL, Cook, Rooney, Stretford, Preston and so on), burned through a load of his own cash and trashed his reputation over here, for seemingly no gain at all.

Sorry if it's been posted previously - some interesting stuff on Linked In re Kirchner and non payment of Slync staff.

Basically gone through loads of dogs eating homework style excuses and has finally admitted that late payment was because of "inability to liquidate funds" i.e. he may be rich on paper but can't get his hands on cash to pay his employees in the USA......let alone buy a football club in England.

 

[Curtains]

Just now, ThePrisoner said:

So very likely he cashed out then like he said?

I think you are assuming that and yes he did say that but you are saying he’s a tyre kicker anyway so why would you believe anything he said .

 

[ThePrisoner]

Just now, Curtains said:

I think you are assuming that and yes he did say that but you are saying he’s a tyre kicker anyway so why would you believe anything he said .

 

He wasted our time twice and Preston's too. There's more to it of course that we'll never know (particularly Stretford and Rooney's involvement and the increasing noise surrounding that) but it's how he comes across.

How did it take so long for all of that when the Clowes deal has potential to be wrapped up all within a timeframe of the last 2 weeks?

Still, at least he got a DCFC coat out of it.

[Crewton]

33 minutes ago, alram said:

if clowes can do a deal in less than a week it really does make you wonder why an earth the admins kept extending kirchners deadline

 

he should have been binned off after the final game of the season when he was given the original deadline

 

a nice little earner for quantuma though

If no-one else had made a viable offer at that stage, it's easier to understand why they persisted. And it's only a nice little earner if there's any money to pay their bill at the end. 

On the face of it, they've not done a good job from the fans perspective, but plenty of industry insiders have said that it was such a complex situation that no-one else wanted to touch it. If the major creditors think they've been negligent, they can take them to Court, so let's see how the repercussions pan out. 

[Kuskus]

Rosenior is on Talksport at 11:30

[May Contain Nuts]

33 minutes ago, alram said:

most of the problems regarding kirchner go away if you made him pay a non refundable deposit.

the whole thing has been amateur hour from start to finish.

you are completely right, clowes has saved their asses really. he fell into their lap.

That might make most of the Kirchner problems go away, but it doesn't solve the problem that nobody else was willing to match his bid, to put their money where their mouth was at the time.

We'd quite possibly just have seen more weeks of speculation with Ashley trying to drive the price down further, Appleby still trying to find investors for his bid, the usual.

Who was going to agree to a non-refundable deposit in March/April when the club already had enough funding to see out the season? You're risking a good option (on paper, regardless of how it turned out) dropping out with nobody to step into the void. 

Worse still you're risking the possibility of someone coming in with a seriously terrible lowball offer that you're then obliged to accept by virtue of it being the only one on the table.

 

Besides, all the time wasted with Kirchner wasn't actually a waste -

With a PB in place it allowed pretty much all of the groundwork to be firmed up in preparation for the eventual sale. That's why Clowes can 'do it in ten days', because the path has been trodden, the weeds extinguished and a clearer path to the finishing line unveiled.

The time wasted with Kirchner brought Clowes to the table in the first place - would he have stepped in if he wasn't already buying the stadium as part of Kirchner's bid?

So many variables and not at all as simple as some like to make it sound.

Edited June 29, 2022 by Coconut's Beard

[RadioactiveWaste]

3 minutes ago, ThePrisoner said:

So very likely he cashed out then like he said?

Probably a slight of hand in him saying he'd cashed out - cashed out of what he was originally in...but then reinvested that in some other crypto assets and slync.io.

The other rumour I remember seeing (not proof,not ITK, remember seeing a rumour) was the proof of funds he showed was the slync payroll account (or some other slync related account where the money was already spoken for)

[duncanjwitham]

8 minutes ago, JuanFloEvraTheCocu'sNesta said:

I suspect (with absolutely no evidence to back my claim up) that Kirchner has been burning through other people's cash to get this far, not his own.

Maybe that's the case, but it's basically the same thing - I still think he was genuinely intending to buy the club, and at the last minute he either couldn't get the money over here or changed his mind.  I think certainly if it's the later, you can't attach that much blame to Quantuma, because you can't legislate for people just randomly changing their minds.  Presumably that was the point of the non-refundable deposit, but you have to assume that none of the bidders were willing to pay it, since it was dropped.

8 minutes ago, ThePrisoner said:

He'd cashed out years ago. Or so he said. You're giving him too much credit, nothing but a time waster and tyre kicker who liked to surround himself with celebrity to feel important.

He's getting all that celebrity stuff from his Slync golf trips though.  He must have spent a significant amount of money failing to buy us, and the only celebrity stuff he's had is a couple of appearances at Pride Park and few private chats with Wayne Rooney.

[Donegal Ram]

The gaffer on talksport this morning at 11:30 ish. Hopefully to announce the new era

[Ramrob]

I know this is a discussion board but personally don't think we should spend anymore time discussing Kirchner – he's history. Wasted so much energy worrying about him doing the deal. Forget about him, sure he has us.

Let's focus on the future with Clowes, after all…

Every Clowes has a silver lining.

[Curtains]

1 minute ago, ThePrisoner said:

He wasted our time twice and Preston's too. There's more to it of course that we'll never know (particularly Stretford and Rooney's involvement and the increasing noise surrounding that) but it's how he comes across.

How did it take so long for all of that when the Clowes deal has potential to be wrapped up all within a timeframe of the last 2 weeks?

Still, at least he got a DCFC coat out of it.

Mate Clowes was going to buy the Stadium and lease to Kirchner at good rates but when Q abandoned CK on 13 th he decided to buy Stadium on 17th and go for the club .

He was in the process.

Of course CK has turned out to have ultimately failed and I’m sure has lost money .

Its not a good look for him but I assume he’s allegedly lost some of his wealth recently.

Q have him a good go but now every man and his dog are jumping on Q .

Rooney believed in CK and so did his agent and the guy from Man City  

 

 

[duncanjwitham]

7 minutes ago, ThePrisoner said:

How did it take so long for all of that when the Clowes deal has potential to be wrapped up all within a timeframe of the last 2 weeks?

We don't actually know how much of the Kirchner process has just transferred over.  Obviously the stadium work was all done while Kirchner was involved, but it could easily be the case that the agreements with creditors, and a bunch of other stuff, are all just being transferred over too - Clowes has effectively just swooped in and signed the cheque that Kirchner couldn't.  

[kevinhectoring]

3 hours ago, PistoldPete said:

Daily Mail article credibility alert:
1) It's THE Daily Mail
2) Reporter Matt Hughes , with a long history of making stuff up.
3) No payments were made by Stretford.The payments were made by an agency that he works for.
4) The story that he or his agency paid the player wages secretly also seems inplausible.. did the agency somehow have all players bank details? In any case the story says the payment was by cheque.

5) It seems more plausible that funding was provided by the agency on behalf of CK.. in which case the physical payment of wages was actually by DCFC. Either way the players were definitely paid so no infringement of that requirement.

6) Quantuma wil not face investigation by Financial Services Authority , not least because that organisation has not existed for nearly 10 years. 

 

The payments obviously went through the club don’t you think ? So a cheque in favour of the club and the cleared proceeds put through the payroll in the normal way. A key question is: where did q think it had come from ? Perhaps they thought it was ultimately CK’s cash but maybe there was more to it. 
I think you’re slightly disingenuous when you say Uncle Paul merely ‘works for’ SSS 

[Nishfan]

 Liam is on talk sport at 11.30 ?

 

apologies if it’s already been mentioned 

[RadioactiveWaste]

10 minutes ago, duncanjwitham said:

We don't actually know how much of the Kirchner process has just transferred over.  Obviously the stadium work was all done while Kirchner was involved, but it could easily be the case that the agreements with creditors, and a bunch of other stuff, are all just being transferred over too - Clowes has effectively just swooped in and signed the cheque that Kirchner couldn't.  

I very much think that's more or less the case, given the speed which has been must un-Quantuma like.

 

[PistoldPete]

4 minutes ago, kevinhectoring said:

The payments obviously went through the club don’t you think ? So a cheque in favour of the club and the cleared proceeds put through the payroll in the normal way. A key question is: where did q think it had come from ? Perhaps they thought it was ultimately CK’s cash but maybe there was more to it. 
I think you’re slightly disingenuous when you say Uncle Paul merely ‘works for’ SSS 

If physical payment was made by the club then there is no issue that the club paid the player wages. So no 3 point penalty can possibly apply.

I said there is a crediblilty issue with the Daily Mail .. they cannot get basic details like who made the payments right. Stretford   Is a minority shareholder in SSS I believe.