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The Administration Thread


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The Athletic (Matt Slater) is reporting that we still owe Lech Poznan £2.5m for Jozwiak and that we haven't paid the most recent instalment that was due in February... What the actual duck is going on with this club? If we're selling players for less than what we actually owe on them and still not paying off our debts to other clubs then that just takes the biscuit.

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26 minutes ago, Alty_Ram said:

I appreciate that you are trying to be positive (or at least not negative) but it just seems in most peoples eyes that there is increasingly little to cling onto. Sure, there's funding till season end which was achieved by selling some of our few remaining players but now we head towards June where more contracts are up, further weakening a desperately thin squad that is seriously lacking in numbers and quality in some key areas.

We have asked potentially interested parties for what amounts to their 'Best And Final Offer' (BAFO) and despite that being over a week ago there is still no sign of any preferred bidder and no indication that anyone is prepared to push to anything like what the EFL's rules demand without encountering further crushing penalties that will severely impact us even if we are rescued. The Binnies bid may have been a low bid that has been rejected as it was nowhere near what Q want (or would be needed to avoid sanctions..) but I personally have no confidence that anyone else will be offering a huge amount more because we look to be such a financial basket case. These expressions of interest are from business folk, not rich benefactors who want to save their local club. It's just guesswork granted, but I suspect that there may be better potential bids than Binnies but not by enough.

So what is happening now ? Who knows, least of all the fans but our situation is uniquely vulnerable with no ground and almost no playing assets due to enforced contract run-down after extended embargo. If we get to June and are still somehow solvent for the summer then, we face a free-for-all on a good chunk of what is left of our squad. Can we even field a first team come the start of next season if we don't get taken over ? Seems in the balance at best.

Really not trying to be negative or put anyone on a downer, but honestly, last night knocked the stuffing out of me. I just felt for the first time that I'm losing hope ?

I think it’s more if I let myself speculate on all the negatives it would take over my life. Did that quite early on. We’re not going to hear about it imminently, if we do it’s a nice surprise, let’s focus on the football.

Last night was tough to take, but I’m focussed on the positive we’ve got 5 out of last 8 games at home and we have a very good chance to win 6 of those - not saying we will. The lads have done an amazing job to even give us a sniff of survival so deserve our backing until it’s not possible. I still feel immensely proud of them and will do whatever happens.

What will be will be regarding the future of the club. Im consoled by the fact bidders are interested, an offer from the Binnies even with leasing on the stadium could be returned to if everything failed (they haven’t ruled themselves out the admins have moved on presumably for better offers), a -15 scenario in league one without a squad is crap but it’s something a club like Derby can overcome. Rooney’s preseason will not be perfect but it wasn’t last year and he’s performed heroics. If he goes then my optimism will fade but there are good managers who will be attracted by the challenge of restoring Derby to where they should be. 

Liquidation is the only disaster zone in my head but I don’t think it will happen. Maybe that’s blind faith I don’t know, but we’re not there yet so I won’t be panicking unless things haven’t moved on beyond the end of the season.

Edited by BramcoteRam84
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6 minutes ago, roboto said:

The Athletic (Matt Slater) is reporting that we still owe Lech Poznan £2.5m for Jozwiak and that we haven't paid the most recent instalment that was due in February... What the actual duck is going on with this club? If we're selling players for less than what we actually owe on them and still not paying off our debts to other clubs then that just takes the biscuit.

i'd guess (and it is only a guess) that the money we will recieve for Joz will go into a pot to be split across all creditors - just because we owe money for Joz and now received a chunk of money by selling him doesn't mean that the lattter cancels out the former.

As far as selling him for less than we owe, that's entirely down to the fee we paid and what he's now considered to be worth. If we really got £2M from the yanks, I'd suggest that's a pretty good price given how unproductive his time here has been.....

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12 minutes ago, roboto said:

The Athletic (Matt Slater) is reporting that we still owe Lech Poznan £2.5m for Jozwiak and that we haven't paid the most recent instalment that was due in February... What the actual duck is going on with this club? If we're selling players for less than what we actually owe on them and still not paying off our debts to other clubs then that just takes the biscuit.

Suspect the money is being used to keep the club going. The football creditors debt will be paid on exit from administration by the new owners.

Or not, as the case may be.

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34 minutes ago, Gaspode said:

i'd guess (and it is only a guess) that the money we will recieve for Joz will go into a pot to be split across all creditors - just because we owe money for Joz and now received a chunk of money by selling him doesn't mean that the lattter cancels out the former.

As far as selling him for less than we owe, that's entirely down to the fee we paid and what he's now considered to be worth. If we really got £2M from the yanks, I'd suggest that's a pretty good price given how unproductive his time here has been.....

Nixon said the fee went straight to the creditor.

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51 minutes ago, roboto said:

The Athletic (Matt Slater) is reporting that we still owe Lech Poznan £2.5m for Jozwiak and that we haven't paid the most recent instalment that was due in February... What the actual duck is going on with this club? If we're selling players for less than what we actually owe on them and still not paying off our debts to other clubs then that just takes the biscuit.

As I said in response to the claim that we owed Arsenal £8 m for Bielik These reports have to be treated with some considerable mistrust.

 

the total transfer fees outstanding at the November statement of affairs was £8.3 million. Transfer instalments have been due since then.. if they were unpaid how come this hasn’t been reported on EFL website? Weren’t EFL said  to be withholding sky tv money from us so that payments would be made? And even if instalments hadn’t been paid on time , how can we owe £2.5 million for Jozwiak and £8 m for Bielik when the total outstanding for all players was only £8.3 million four months ago?

 

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3 minutes ago, B4ev6is said:

I think admin should say something to us all I am hoping that something near must be done.

I'd forget about it until the end of the season if I were you - that's what I'm trying to do. 

If it happens sooner, then great, a pleasant surprise.

But it's not healthy, stressing out while waiting for updates.

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1 hour ago, B4ev6is said:

I think admin should say something to us all I am hoping that something near must be done.

It's better that they don't say anything tbf as unless its to say that we are going to be taken over tomorrow by an oil sheikh then it will not be the answer a lot of fans are looking for 

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1 hour ago, Gaspode said:

2 points:

  1. Don't believe a word Nixon says...
  2. Why would Joz's old club have any greater entitlement to be paid than any other genuine football creditor?....

Perhaps Poznan welded a metal 'ownership' stamp to the back of his left calf - 'this footballing asset belongs to Lech Posnan. No sale can be completed without our written approval'. It might explain why he seemed constantly off balance, or worse lying on the ground. Maybe that Birmingham lad loosened a few rivets?

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1 hour ago, B4ev6is said:

I think admin should say something to us all I am hoping that something near must be done.

Get you 100% but I don't think they will unless it's to either announce the PB, or, sadly to announce something none of us want to hear. 

I've stopped looking for updates and just focus now on our games. If last night's game is anything to go by, they're enough to stress me out! I'm ignoring all the "we still owe this, we still owe that" articles.  None of it is new so not worthy of stressing about. It's completely out of our hands and much as it's hugely frustrating we just have to wait. Focus your energy on what you can control and that's following and supporting the team.   

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2 hours ago, Gaspode said:

Robert Downey Jr Shrug GIF by MOODMAN

2 points:

  1. Don't believe a word Nixon says...
  2. Why would Joz's old club have any greater entitlement to be paid than any other genuine football creditor?....

Agree on both points. In fact I think Lech Posnan are not "football creditors" as defined by EFL as they are not a domestic club. Which is probably why Arsenal got paid in January for Bielik (out of money that EFL is kindly keeping for us), and why Lech Posnan has apparently not been paid their latest instalment. 

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