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The Administration Thread


Boycie

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So three bids in, a fourth bid if Appleby can get in by the cut off. None of the bids meet the requirements to avoid -15 points supposedly, either that’s EFL speculative baalocks and Q will come in with £50m next week and say duck you and -15 points suckers, or, and more likely, Mel (remembering he has only had the clubs interests at heart throughout all this) won’t budge on £20m for the stadium - Bamford. 
 

Explains why this has dragged on, Q trying desperately to bump the bids up but people are only prepared to pay so much. £50m is just too much for a League one club (effectively), pay that then in the event you don’t get the club back to the premier league (which is a difficult task - we’ve tried for the past 15 years) you would struggle to break even at at that price - you wouldn’t do it unless you were a fan who had the money. This isn’t on the bidders at all, whoever gets it deserves our support, any further sanctions we get are all on Mel.

Which leads me to my final point, with the swear filter can we change Bamford to Morris?

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1 hour ago, 86 Hair Islands said:

 

I'm afraid there are currently two stakeholders who comprise the biggest inhibitor and neither is Quantuma. Morris claimed he'd sell the club to the right person for £1.00. I'd say that the differential between that false claim and his current £20M valuation for the stadium alone leaves significant latitude for compromise. He could settle this tomorrow by reducing the cost of the stadium. That's unequivocal. He has the means and the wherewithal and yet still he does nothing. As it is, it appears he's effectively used the admins to run a closed bid auction at zero cost to him and probably secured the highest figure he could have realistically hoped for in the process. A cunning stunt.

 

 

COYR

 

He certainly  is !!!..................Oh sorry misread that ?

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46 minutes ago, RipleyRich said:

If the choice was that or liquidation?

I'd take anything over liquidation. We all would. But in reality we'd never be faced with that choice as there are other bids at the table including King of the Gazump, Mike Ashley

I also suspect HMRC would play hardball were Morris via MSD to return (which I suspect they wouldn't with other buyers). They know he's tried to evade debts whilst still having the means & so they could threaten to wind DCFC up (i.e  liquidate) if he didnt pay them much more pence in the pound.

Edited by LeedsCityRam
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Where has the talk of Morris being part of a group trying to buy the club come from. ??? 
 

it’s all over twitter so it must be right. 
 

I personally think we will see Andy Appleby back at the helm of the club he loved. With someone behind him, possibly Dell. They are connected to MSD, but MSD could be restricted as they already put money into Burnley I believe. 
 

The other option is the Binnie family have come back with a bigger offer. 
 

only time will tell of course 

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3 hours ago, RipleyRich said:

What if if it is MM/MSD?

Take their money out and there ain't a lot left to pay for the club. EFL have already confirmed that MM would not be barred from ownership.

Buy it out of administration, debts gone, put it up for sale as soon as promotion back to the Championship is confirmed.........bingo!

There is more chance of me winning the lottery than Morris reappearing.  The fans we rip him to peices......

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2 hours ago, PistoldPete said:

The article makes no sense.

"Unless a substantial offer is made by Friday, which will pay off all Derby's debts, including nearly £30 million to HMRC and £20 million to American loan company MSD, Wayne Rooney and his squad will start next season with heavy sanctions imposed".

There is no requirement for Derby to pay off al their debts to HMRC or to MSD in order to avoid sanctions from EFL.  

Difficult to say that definitively. I have been unable to find a copy of the EFL insolvency policy anywhere on-line. I have read  journalists report that the rules are now aligned to legislation and that requires any settlement to be agreed by HMRC as the preferential creditor.

 

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I wonder what sort of calculation bidders are doing. If its another 20million vs -15 points then that's a big deal to someone with less financial clout who may have to borrow to do it. Obviously for the Ashleys of this world that is fairly modest relatively speaking but he didn't get where is is today by chucking more cash than he needs to at things.

If bids were anywhere near the threshold where we wouldn't cop for another penalty then surely someone must think that finding the cash to bridge the gap is still a good investment. If we're 10s of millions short then far less so.

I appreciate that it is all speculation but there seems an awful lot about these rumours that rings true.

Appleby would no doubt run us sensibly and prudently which would be a welcome relief but with owners of other clubs waving a magic wand and making 10s of millions of debt disappear then it might not be enough for some. For me 'sensible, prudent but competitive' sounds pretty good after the last couple of years but yet more points deductions skews that calculation slightly. We need investment badly to renew contracts and plug some gaping holes in the squad, largely just to stabilise things not claw back another good 15 point kicking for having the cheek to be abandoned in a total financial mess.

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5 minutes ago, Alty_Ram said:

I wonder what sort of calculation bidders are doing. If its another 20million vs -15 points then that's a big deal to someone with less financial clout who may have to borrow to do it. Obviously for the Ashleys of this world that is fairly modest relatively speaking but he didn't get where is is today by chucking more cash than he needs to at things.

If bids were anywhere near the threshold where we wouldn't cop for another penalty then surely someone must think that finding the cash to bridge the gap is still a good investment. If we're 10s of millions short then far less so.

I appreciate that it is all speculation but there seems an awful lot about these rumours that rings true.

Appleby would no doubt run us sensibly and prudently which would be a welcome relief but with owners of other clubs waving a magic wand and making 10s of millions of debt disappear then it might not be enough for some. For me 'sensible, prudent but competitive' sounds pretty good after the last couple of years but yet more points deductions skews that calculation slightly. We need investment badly to renew contracts and plug some gaping holes in the squad, largely just to stabilise things not claw back another good 15 point kicking for having the cheek to be abandoned in a total financial mess.

I do think that who ever gets us show there bank card and then tax people mad and rest all paid in full.

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