The Administration Thread

[Wignall12]

2 minutes ago, i-Ram said:

Really don’t get this ‘I am not going to follow DCFC 2022’ (if it happens). I would accept it if anyone was at the first game in 1884, but anyone else is just on some nostalgic and sentimental nosedive imo. 

Dont you dare Diss that nostalgic sentiment , we were there and buddy well enjoyed it , not our fault you were born too late!!

[Elwood P Dowd]

2 minutes ago, Unlucky Alf said:

Read the last 100 pages or so, You'll get a feeling that time is of the essence, As for the PB in all honesty is there a PB, Has a PB been identified, Is there a new bidder on the table, What is the "criteria" heaven only knows...it's beaten this old dog that's for sure ?‍♂️

But if the administrators are prepared to announce a PB what has happened to delay that, I doubt that time is of the essence for the Administrators, remember “time is of the essence” has a legal meaning.

As officers of the court the Administrators are charged with getting the best deal for the creditors I very much doubt that within the bounds of reason this responsibility is time bound.

[Ram-Alf]

8 minutes ago, Elwood P Dowd said:

But if the administrators are prepared to announce a PB what has happened to delay that, I doubt that time is of the essence for the Administrators, remember “time is of the essence” has a legal meaning.

As officers of the court the Administrators are charged with getting the best deal for the creditors I very much doubt that within the bounds of reason this responsibility is time bound.

Ah the $60,000 question, And that is what most if not all would like to know?‍♂️

[Ghost of Clough]

2 hours ago, cool_as_custard said:

Can't believe there's a chance we would get allowed back in to League 2. National League at a pinch, National League North or South more likely.

Since National League North is the most likely division for Bury FC next season, I find it highly unlikely that would be the division we end up in ourselves.

Bury were expelled in 19/20 when in L1. So, imagine 20/21 in L2, 21/22 in NL, 22/23 NLN
Therefore, L2 for Derby in 22/23 is both fair and realistic.

[GenBr]

5 hours ago, CornwallRam said:

I think people have the wrong idea about the phoenix club option. 

It won't be fan owned or fan instituted. There won't be different versions - they would be rival new clubs.

What will happen is The Derby County Football Club Ltd will go into liquidation. The new owner will buy the name 'Derby County Football Club' and all the associated trade marks and rights. They will then be owned by a new company who will run a team which will be called Derby County Football Club, have the same badge and be indistinguishable from the existing club. The new club will be entirely free of all the liabilities of the old.

The new owners will have to negotiate a league to play in and a stadium and training ground to use. The noises indicate League 2 is the most likely league. It would be surprising if some deal couldn't be stuck for Moor Farm and Pride Park.

Then there's the small matter of needing a squad. All the existing players would have been either released or had their registrations sold by the EFL to pay off the footballing debts. I suspect a few of the released players would sign for the Phoenix club, but we'd still need 95% of a new squad.

It would still be Derby County in sight, sound and feel though. The interesting question is, would we still count as founder members of the league? Do Accrington Stanley? I think we would if we told everyone we were. 

COYR

This isnt a certainty at all. Somebody eventually bought the naming rights, etc for Bury FC, but they're still not playing football again yet. They might be back next season.

There is a Bury FC phoenix club but it is completely separate to the original club and is fan owned. They may merge with the other club when it comes back, but there is no guarantee that whoever buys the rights to our club will start the club again

[Millenniumram]

As every day goes by, I’m more and more pleasantly surprised by the speed things are moving at with this takeover. Thanks Mr Hosking, you really are a man of your word.

[Ghost of Clough]

19 minutes ago, Elwood P Dowd said:

But if the administrators are prepared to announce a PB what has happened to delay that, I doubt that time is of the essence for the Administrators, remember “time is of the essence” has a legal meaning.

As officers of the court the Administrators are charged with getting the best deal for the creditors I very much doubt that within the bounds of reason this responsibility is time bound.

They are time bound. We can only be in liquidation for a maximum of 18 months, starting a season in admin just once. However, The EFL are duty bound to ensure all clubs can complete the season before allowing them to participate. They also won't want complications such as only 23 teams competing in a division or clubs not knowing if they're in what league. As soon as we have no league to play in next season, the value of the club plummets, the club is liquidated and the creditors getting much less (if anything).

A PB therefore needs to be announced before the end of the season. This will give the EFL confidence that a takeover will be completed in time to avoid any fixture/league complications.

[Curtains]

I personally think no news in this case is bad news to be honest. 
 

I can’t understand the delay. 
 

of course that’s just my opinion and could be totally wrong and David could be totally right. 

[MackworthRamIsGod]

5 minutes ago, Millenniumram said:

As every day goes by, I’m more and more pleasantly surprised by the speed things are moving at with this takeover. Thanks Mr Hosking, you really are a man of your word.

I bet he orders extra hash browns at mcdonalds too.

[MackworthRamIsGod]

1 minute ago, Curtains said:

I personally think no news in this case is bad news to be honest. 
 

I can’t understand the delay. 
 

of course that’s just my opinion and could be totally wrong and David could be totally right. 

What did David say?

I think the silence is bad news too. To say things will happen quickly, next 7 days, next 5 days and so on, suggests things haven't gone to plan.

Although, whilst Ashley is still buzzint around there will be a hope, The moment Ashley backs out is the moment we know its curtains. No pun intended.

[Curtains]

2 minutes ago, MackworthRamIsGod said:

What did David say?

I think the silence is bad news too. To say things will happen quickly, next 7 days, next 5 days and so on, suggests things haven't gone to plan.

Although, whilst Ashley is still buzzint around there will be a hope, The moment Ashley backs out is the moment we know its curtains. No pun intended.

His post was 50 minutes ago mate 

[atherstoneram]

4 hours ago, NottmRAM said:

Not to a football club. It's more than a business. It's important to the local community and to the local economy.  It won't be allowed to go under because creditors say "no".

No,it's just a business ,that's the way the administrators have to run it.

[Curtains]

2 minutes ago, MackworthRamIsGod said:

What did David say?

I think the silence is bad news too. To say things will happen quickly, next 7 days, next 5 days and so on, suggests things haven't gone to plan.

Although, whilst Ashley is still buzzint around there will be a hope, The moment Ashley backs out is the moment we know its curtains. No pun intended.

The worst thing about all this is player contracts.   Other clubs can just come in and get them. 

[Elwood P Dowd]

14 minutes ago, Ghost of Clough said:

They are time bound. We can only be in liquidation for a maximum of 18 months, starting a season in admin just once. However, The EFL are duty bound to ensure all clubs can complete the season before allowing them to participate. They also won't want complications such as only 23 teams competing in a division or clubs not knowing if they're in what league. As soon as we have no league to play in next season, the value of the club plummets, the club is liquidated and the creditors getting much less (if anything).

A PB therefore needs to be announced before the end of the season. This will give the EFL confidence that a takeover will be completed in time to avoid any fixture/league complications.

14 minutes ago, Ghost of Clough said:

They are time bound. We can only be in liquidation for a maximum of 18 months, starting a season in admin just once. However, The EFL are duty bound to ensure all clubs can complete the season before allowing them to participate. They also won't want complications such as only 23 teams competing in a division or clubs not knowing if they're in what league. As soon as we have no league to play in next season, the value of the club plummets, the club is liquidated and the creditors getting much less (if anything).

A PB therefore needs to be announced before the end of the season. This will give the EFL confidence that a takeover will be completed in time to avoid any fixture/league complications.

The point I was making is that for the administrators getting the the best deal for the creditors is the essence of their duties, not time. I also did not leave time open ended for the administrators their duties have to be completed I did write “within reason” I wrote in this manner to allow for a event such as, there are no bidders, in which case it would be pointless carrying on for 18 months

Edited March 17, 2022 by Elwood P Dowd

[Alty_Ram]

Are there any meetings due with fan groups or Team Derby ? I know that the post-meeting announcements have been less than helpful at times but someone with an update however cryptic might settle a few nerves and give a hint that things were moving forward. At the moment many folk have a mental picture of Q sitting round a boardroom table with a few opened letters with furrowed brows and an awkward silence.

I understand the need for confidentiality but I don't see that it would kill them to for example confirm that since the Binnies withdrawal that we have definite active credible bids ? Or did I miss that in this epic thread ? There was something about 'bids and expressions of interest'. Binnies were clearly under the impression that theirs was the only firm bid, which may partly explain the low bid but does that mean there are definite bids or just some others who have said that they make be interested in picking the keys up from smoking ruins ? Surely some indication of where we are up to is possible, however general and without naming parties.

We're all desperate to know if we are more of a scenario A or B but can we not have some kind of clue. Anything at all ?! This wall of silence is just eroding everyone's sanity.

[atherstoneram]

3 hours ago, duncanjwitham said:

They're on a daily-rate type of agreement.  They get paid out of the proceeds of the sale/liquidation - they're ranked behind MSD (and anybody else with a fixed charge), but ahead of HMRC and everyone else.  So it's in their interests to sell (or liquidate) for as much as possible, to make sure they get paid.  There's no incentive for them to drag things out then liquidate the club as there probably won't even be enough assets left to sell to cover their fees.  The best outcome for Quantuma is a successful sale that gets done reasonably quickly (both from a personal reputation perspective, and a "making sure we get paid" one).  Trashing their reputation by dragging things out and then failing to sell, will not help them get the next job, even if they make a few extra bucks from this one. 

If the creditors feel that Quantuma are taking excessive fees, there are processes in place for them to challenge the fees in court etc. 

They will also act in accordance of the rules for trying to get the club out of administration. They won't just sell so they ensure there is enough for them to get paid,their governing body runs a very tight ship regarding legislation and failure to adhere to those rules can result in them being barred as administrators. If they fail to sell it will not be for want of trying,it will mean nobody is willing to buy the club at a satisfactory price. 

[hintonsboots]

11 minutes ago, Curtains said:

The moment Ashley backs out is the moment we know its curtains.

Didn’t know she/he had the Dosh.

[atherstoneram]

3 hours ago, GeneralRam said:

At least when we get liquidated we’re allowed back into league 2. Especially if we’d start in league 1 with -15.

People need to realise here’s duck all to buy, especially when you can get another championship club for not much more.

Mel Morris, the man that stripped Derby of its assets (stadium) and  is about to get it liquidated. He should be chucked in prison for being able to do this. 

It was stated that we could possibly rejoin in League 2,it wasn't a guarantee.

[atherstoneram]

2 hours ago, GeneralRam said:

Nixon been going on about how it’s possible.

if Derby disappear though I’ll be done with football other than England in tournaments.

Nixon, the great footballing prophet,he has no idea whether we would be allowed to join in League 2 or not.

[inglorious02]

How many minutes per day do Quantuma actually spend working on the Derby County "case"? Do they have other clients to deal with? Do they work like a solicitor where they take the file out of the draw, spend half an hour on it then put it away again until another day?