The Administration Thread

[Van der MoodHoover]

14 hours ago, Tyler Durden said:

What annoys me is that with all the ITK bullpoo being progressed and pure opinion being touted as fact I asked a question earlier which was are there any legal timeframes to a club being in administration when there's no real prospect of a buyer being found and still waiting for a reply.....would assume people are happy to progress speculation rather than replying with facts. 

I believe that there isn't a fixed time frame as such, but the moment the administrators discover that they cannot continue to trade profitably then they will be legally obliged to move to liquidation. 

[Crewton]

1 hour ago, EtoileSportiveDeDerby said:

May have been posted already, eye watering. May be the reason they are not in a hurry either, kerching.

"Industry experts estimate"? There's an estimate that Quantuma provided in the Statement of Affairs back in November, of around £4.5m taking us up to September. It doesn't take an expert to estimate that the bill might be nearing £3m. That original estimate has been approved by the Secured Creditors (as required under insolvency law) and what Quantuma ultimately get paid will require the approval of those same creditors, or the Courts if the figure is disputed. If Quantuma have paid themselves £3m at this point, they are in for a serious legal shoeing, but I doubt that they will be risking that. 

So could people please calm down and stop reacting to click bait in exactly the way that those who publish such nonsense are hoping for? 

[Jimbo Ram]

Derby are one of the biggest clubs outside of the Premiership, ground, training facilities, fans, season ticket holders etc. To get that for half it cost Man City to buy Jack Grealish still seems a bargain to me….

[Eatonram]

3 minutes ago, Jimbo Ram said:

Derby are one of the biggest clubs outside of the Premiership, ground, training facilities, fans, season ticket holders etc. To get that for half it cost Man City to buy Jack Grealish still seems a bargain to me….

Particularly as they only "own" Grealish till the end of his contract when he can walk away if he wishes.

[YouRams]

Watching the EFL show on u21 players they've mentioned Knight and Bird, it's got me thinking Q have actually screwed us even more dragging their feet.

Had they actually done their job and stuck to original deadlines, even if the PB couldn't fork up all the money we'd of had saleable assets in place for the new owner to then make the additional needed to not get a -15 next season, we let Shinnie, Plange and Festy go for peanuts, we're letting valuable saleable contracts run out.

If anything they've hindered us more than actually helped, they need investigating into what they've actually done other than as I've said before line their fat pockets.

[May Contain Nuts]

1 hour ago, LeedsCityRam said:

There are credible buyers who are interested - what they're not willing to do is stump up Quantuma's/Morris' inflated asking price for a club in an absolute state.

Credible buyers they may be, but it doesn't stop them leading Quantuma the garden path by telling them they're prepared to make bids at a certain level and then not providing the figures talked about when the bid actually goes in though, altering the bids according to what's happened on the pitch and our chances of relegation.

The fans demand an update again and again and again and again, don't like it when they think they're being fobbed off so won't accept 'things are ongoing', they want timescales to hold people to.

(Actually some seem fine being fobbed off by Ashley's advisors and the occasional 'I'm still interested" email from Appleby)

They want and can only get these timescales from Quantuma, but Quantuma can only give these timescales based on the info provided to them by the bidders. Info from the bidders says one thing, Quantuma answer the fans demands, bidder doesn't follow through, Quantuma's answer becomes a lie and a missed deadline.

Rinse. Repeat. 

Things look ever more bleak, the fans demand another update. They want the truth. Except they don't really want the truth they want to be told that everything's going to be OK.

The Kirchner (aka Chief Loudmouth) at Preston situation should provide a wake up call to the possibility of the bidders pissing about and not being true to their word. Has he been on twitter giving it the big 'un again, or is there no Quantuma or Mel Morris for him to blame for his own shortcomings this time?

 

Edited April 2, 2022 by Coconut's Beard

[Derbados]

52 minutes ago, Topram said:

Imagine getting paid 3 million to do bugger all but put out deadlines you don’t meet and a few pathetic statements where all you do is change a few words 

And then threaten the fans if they dare to voice their concerns before a game, let’s not forget that key element. 

They are taking us all for a ride, and they need looking in to

[IslandExile]

As a vegetarian now of over 30 years, I still miss bacon and, funnily enough, corned beef.

Sorry, I just wanted to say something new and original on this thread.

That's not aimed at anyone but we (including me) have just been round and round again. At least there's a game on to distract us for a couple of hours.

COYR ?

[Sparkle]

2 hours ago, PistoldPete said:

Yes but these are being paid as we go (apart from any bonuses). When player contracts finish in the summer our wage bill will be small apart from Rooney and co.  Wigan were allowed to go into a new season in admin. I don't see how withholding money in case we fail is really doing anything useful.. in fact it only makes it more likely that we will fail. 

Yet it’s been happening 

[Sparkle]

3 hours ago, duncanjwitham said:

I could be wrong on this, but I think that's a one-off arrangement that was put in place because of COVID. I've certainly never heard of it being applied before.

The bigger issue might be accepting card payments.  Credit Card companies are not going to take the risk of letting people spend £400+ on a season ticket for a club that's potentially about to implode.  They'll be on the hock if we do go bust and people try to claim the ticket money back on their cards.

No credit card firm will be taking payments over £100 regarding a football club in administration as they would be beyond extremely vulnerable to people claiming their money back 

[May Contain Nuts]

3 minutes ago, IslandExile said:

As a vegetarian now of over 30 years, I still miss bacon and, funnily enough, corned beef.

Sorry, I just wanted to say something new and original on this thread.

That's not aimed at anyone but we (including me) have just been round and round again. At least there's a game on to distract us for a couple of hours.

COYR ?

I don't know why corned beef gets such a bad rap, I love the stuff (just not when it hasn't been properly, um, corned and has 'bits' in.

[IslandExile]

2 minutes ago, Coconut's Beard said:

I don't know why corned beef gets such a bad rap, I love the stuff (just not when it hasn't been properly, um, corned and has 'bits' in.

Corned beef and chips, soaked in vinegar, is fantastic.

Wish they did a Quorn version.

[May Contain Nuts]

1 minute ago, IslandExile said:

Corned beef and chips, soaked in vinegar, is fantastic.

Wish they did a Quorn version.

I'll have to try that, minus the vinegar. Maybe put some mild chilli and garlic mayo on it and pretend it's doner meat & chips from a takeaway.

Edited April 2, 2022 by Coconut's Beard

[RoyMac5]

24 minutes ago, YouRams said:

Watching the EFL show on u21 players they've mentioned Knight and Bird, it's got me thinking Q have actually screwed us even more dragging their feet.

Had they actually done their job and stuck to original deadlines, even if the PB couldn't fork up all the money we'd of had saleable assets in place for the new owner to then make the additional needed to not get a -15 next season, we let Shinnie, Plange and Festy go for peanuts, we're letting valuable saleable contracts run out.

If anything they've hindered us more than actually helped, they need investigating into what they've actually done other than as I've said before line their fat pockets.

It was Boro/Wycombe/EFL that put a stop on a quick January sale. Q were going to class-cram Boro/Wycombe and deal with their 'debts' that way. No-one guessed what the EFL would do re 'football debts'.

Now Q seem unable to readjust the selling price to take account of all the lost assets, including the 'relegation costs' (sure we'd have stayed up if Rooney had been allowed players in Jan/Feb).

[CornwallRam]

Just imagine only being paid £3m to sort out the complicated and convoluted mess that Mel Morris has left. Honestly, if Quantuma can sort this out and give our club a future after Mel's kamikaze tenure, then they'll deserve every penny.

[PistoldPete]

1 hour ago, Eatonram said:

Because most of this seasons Season Ticket revenue was used the previous year during Covid....mine for example was "free" because I had paid for the 20/21 season but could never attend. This year we could reasonably sell 15k season tickets and get the full revenue.

Exactly, so get on with it Efl/ quantuma start selling season tickets .. with a health warning if necessary as the club is in admin and may go pop. But some of us me included are willing to take the risk. 

[Sparkle]

It’s simple - no one is going to pay more than £30 million and everyone offering to do so wants the stadium included - it’s up to MM what happens - his mess - his legacy 

[Sparkle]

1 minute ago, PistoldPete said:

Exactly, so get on with it Efl/ quantuma start selling season tickets .. with a health warning if necessary as the club is in admin and may go pop. But some of us me included are willing to take the risk. 

Unless you are paying with cash it’s the card company taking the risk I am afraid - why else aren’t season tickets on sale?

[Rev]

1 minute ago, PistoldPete said:

Exactly, so get on with it Efl/ quantuma start selling season tickets .. with a health warning if necessary as the club is in admin and may go pop. But some of us me included are willing to take the risk. 

I think it's a legal requirement that stops the sale of season tickets at the moment, rather than Quantuma acting in the fans best interests.

[Sparkle]

Off the the match for an administration interlude ⚽️