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The Administration Thread


Boycie

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30 minutes ago, EtoileSportiveDeDerby said:

Article in the Times say Rooney Is confident prefered bidder named in 24 hors (48 hours divided by 2).

Sources close to told the Times expect longer (48 hours)

Boro and Wycombe major stumbling block.

Nothing new, same poo, another 48 hours

Quote

Wayne Rooney has said that he is confident that Derby County will be in a position to name a preferred bidder in the next 24 hours, with the former Newcastle United owner Mike Ashley the favourite to buy the troubled Sky Bet Championship club.

But sources have told The Times that the completion of any such deal, believed to be in the region of £50 million, remains a long way off, as the club are the subject of legal disputes from Middlesbrough and Wycombe Wanderers that are yet to be resolved.

The completion of the deal will take longer. Doesn't mean that the Preferred bidder won't be announced today.

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11 minutes ago, Sparkle said:

Good morning - lots of people making stuff up this morning it seems 

Surely not, I don't believe it.

19 minutes ago, jimtastic56 said:

We are in a no win situation. If we don’t sell one player , we have to take out another soft loan at the end of the month to pay the wages. Remember the coaching staff alone is 1/2 a million a month.

Oh, okay.

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2 minutes ago, PistoldPete said:

I think this was hinted at by Hosking , that EFL are not helping only hindering re the Boro and Wycombe claims. And Hosking said the advice they had was that the claims were without merit, and Boro and Wycombe  are not football creditors.  

Forcing the Administrators to settle spurious claims before approving a takeover would be an affront to natural justice IMO - denying a Defendant their right to have their case heard in Court through coercion goes against the core principles of English Law. The EFL appear to be actively colluding with the Claimants. 

These duckers need sorting out. 

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8 hours ago, Ellafella said:

But it’s not proof of funds of the preferred bidder - it’s proof that the Administration can keep the club going until the season’s end and until they provide proof Rooney cannot sign players and the likelihood is the club will need to sell players to generate some money to run the Club to the season’s end. That’s the issue. It’s the EFL playing hardball. Again. 

I find that perfectly reasonable to be honest. Before the EFL allow us to establish new contracts - in accordance with the restrictions we are already operating under regarding fees, wage limits, etc. - I too, for the integrity of the competition, would want to be assured that the Rams are adequately funded to the end of May. There is also the little matter that between now and May that we might need to pay some instalments on Joswiak and Bielik. The EFL didn’t put us in to Administration with debts of c60m (or was it £80m? - lost track ?) it was our owners. I am pretty confident the Administrators will be able to do that, so it is a complete non-story.

The EFL are a bunch of spineless duckers for how they are dealing with the Boro and Wycombe claims, but are a little hamstrung by their members collective agreement on the arbitration process under their rules.

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Unpopular opinion…

I think MM might just be a genius… hear me out…

DCFC cheat the FFP system (with EFL approval), to have a few great seasons at the top of the championship. Boro etc look on with green eyes and plot against us…

 

when they finally get their wish (points deduction, administration etc), the whole club pulls together and start to get results on the pitch, edging towards survival, new owners seem to be queuing up, and with MM making our only asset (stadium) off the chopping block for any creditors, there is little risk of liquidation…

That angry man in Middlesbrough must be FUMING!! And now we’re being linked with a 21million loan signing from united ?? imagine his face when reading that in the tabloids!! 
 

I would seriously try to chill out about the preferred bidder, it will come in time, despite whatever Gibson and the EFL try to throw at us… if anyone in football thought we were going to go bust why would anyone be bidding on our players? They would all be out of contract in a month anyway! No creditor will push for liquidation as we simply don’t have any assets to sell off…

WELL DONE MEL MORRIS ??

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2 minutes ago, cosmic said:

Mate just text me highlights from the office meeting:

”To save costs, all printing and copying must now be done in black and white. Colour printing will only be allowed for special circumstances”

I heard it was no more complimentary tea and coffee. 

Bit more detail, Pearson volunteered to run the brew fund but wasn't qualified. 

Edited by Chester40
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1 minute ago, cosmic said:

Mate just text me highlights from the office meeting:

”To save costs, all printing and copying must now be done in black and white. Colour printing will only be allowed for special circumstances”

Well, Appleby is very hands on!

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13 minutes ago, i-Ram said:

I find that perfectly reasonable to be honest. Before the EFL allow us to establish new contracts - in accordance with the restrictions we are already operating under regarding fees, wage limits, etc. - I too, for the integrity of the competition, would want to be assured that the Rams are adequately funded to the end of May. There is also the little matter that between now and May that we might need to pay some instalments on Joswiak and Bielik. The EFL didn’t put us in to Administration with debts of c60m (or was it £80m? - lost track ?) it was our owners. I am pretty confident the Administrators will be able to do that, so it is a complete non-story.

The EFL are a bunch of spineless duckers for how they are dealing with the Boro and Wycombe claims, but are a little hamstrung by their members collective agreement on the arbitration process under their rules.

Spot on. Great post.

Lots of ninny hysteria about the EFL over the last 12 hours, but - in this case - they are just doing their jobs correctly.

Edited by StarterForTen
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Committee calls for regulatory reforms to English football - Committees - UK Parliament 2019

Well its a few years later, and there has not been enough progress.

Here's what Mps called for in 2019 ...

MPs demand that EFL makes a formal apology to Bury FC staff and supporters with reparations made for associated loss of earnings

FA, EFL and Premier League should establish a supporters' ombudsman to hear concerns about how clubs are being run

Reformed Owners' and Directors' Test would disqualify a buyer with record of corporate insolvency

Clubs would be banned from borrowing against fixed assets such as stadiums (From a Derby point of view, MM wouldnt have been able to borrow against the stadium and training ground if this has been implemented)

Formal and enforceable licensing system for professional English football clubs, as recommended in 2011 report on Football Governance

Government legislation for independent system of football licensing and regulation if reforms are not implemented

Chair's comment

 Damian Collins MP, said:

“Systematic and structural problems are responsible for the tragic expulsion of Bury FC from the League this year. These failures were avoidable, and it is essential that the authorities urgently overhaul their framework if they wish to avoid the same fate befalling other clubs.

“We heard time and again that supporters felt powerless as they watched their beloved club suffer shocking mismanagement and financial misconduct. The authorities must learn to respect, and act upon, these concerns. If the reforms we recommend are not introduced forthwith, the only alternative is for the Government to step in.”

EFL must share the blame:

MPs found the problems at Bury preceded the tenure of the current owner Steve Dale, and say the EFL must share the blame for having allowed the situation at the club to have deteriorated for so long. (Regarding Derby, the efl should share the blame for having allowed the situation at the club to have deteriorated for so long under MM).

Serious concerns are expressed about the size of an introductory fee charged for a loan to Bury FC. The letter is jointly addressed to Jonathan Taylor QC, who is heading the independent Taylor Review, urging him to investigate further.

 

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2 minutes ago, StarterForTen said:

Spot on. Great post.

Lots of ninny hysteria about the EFL over the last 12 hours, but - in this case - they are just doing their jobs correctly.

Apart from they have given us the requirements under which we need to work with. Wage Cap etc. So their just interfering for the sake of it, without being privvy to the discussions actually happening.

The amazing thing for me is we are actually on the Preferred Bidder Announcement Day (I don't think it will happen though!) and as fans, we are actually no further down the line in knowing. Some think its Ashley, some think its Appleby.

I genuinely think it will come out through a media source before its officially announced. Why? Because the public will be the last to know and so many people will find out officially before us that it will be leaked.

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