The Administration Thread

[RammingStone66]

5 minutes ago, BramcoteRam84 said:

Yeah a bit wide of the mark. 
 

But seriously, the bloke isn’t poor by any stretch and more than has the means to own a football club if he runs it responsibly.

Slync.io raised $76m from series a and series b funding rounds, from what I’ve read a series b funding round of $7m-$10m indicates a company worth of $30-$60m so about 3x-6x the funding amount. Therefore applying the same logic slync.io is worth between $230m-$450m. That’s it’s worth now. They raised $60m from Goldman Sachs, they wouldn’t invest that unless Slync had serious growth potential. That’s before we even get to whatever he has in crypto, property or family wealth. Sure he probably isn’t a billionaire, he may not be worth as much as Mel but he’s probably not that far off.
 

I think we can say he isn’t Erik Alonso Mark 2. 

And he has the potential to be worth a lot more than Mel too. Hopefully Slync grows and so does the club.

[kevinhectoring]

1 hour ago, duncanjwitham said:

Nobody, and I mean literally nobody, is going to absolutely commit to buying us until they have a final agreed deal with HMRC, a final agreed business plan with the EFL and probably a bunch of other things too. And HMRC and the EFL are not going to agree final deals until they have an actual person to sit down with and make an agreement with.

Q knows pretty precisely what HMRC will and will not accept. Or if they don’t they are doubly incompetent. So that should be cleared off in the appointment.

The EFL’s high level approach to the business plan should be understood by Q and parameters should have been agreed with CK in exchange for the appointment. Q is an officer of the court and if they say to the EFL ‘we need high level guidance on this in creditors interests in order to sell’, then the EFL will need to assist. Has Q done this? Well they have a habit of not speaking to anyone they need to speak to, especially the EFL whom they unhelpfully fell out with, so who knows? 
 

A ‘bunch of other things too’? Maybe but I don’t know what, these points above were the two I mentioned months ago on here. 
 

the stadium... completely up in the air? Again, why not agree scenarios/ parameters within which CK is obliged to proceed - has the benefit of putting pressure on Morris or even the council, as well as to get as much contractual certainty as possible. 
 

No. They have bamboozled fans with the use of this daft term ‘preferred bidder’ and with their leisurely timetable. Today’s statement indicates numerous aspects are up in the air and at this stage that is unbelievable. What leverage does Q now have to make C agree these outstanding items? It’s likely expiry of the exclusivity period is their only card, and by the time we get to that stage he may be the only one in the ring. 

[kevinhectoring]

1 hour ago, RipleyRich said:

That's the way the process works. Its nothing to do with Quantuma.

Don’t understand this. Q are running the process. 

[DarkFruitsRam7]

7 hours ago, BramcoteRam84 said:

Yeah a bit wide of the mark. 
 

But seriously, the bloke isn’t poor by any stretch and more than has the means to own a football club if he runs it responsibly.

Slync.io raised $76m from series a and series b funding rounds, from what I’ve read a series b funding round of $7m-$10m indicates a company worth of $30-$60m so about 3x-6x the funding amount. Therefore applying the same logic slync.io is worth between $230m-$450m. That’s it’s worth now. They raised $60m from Goldman Sachs, they wouldn’t invest that unless Slync had serious growth potential. That’s before we even get to whatever he has in crypto, property or family wealth. Sure he probably isn’t a billionaire, he may not be worth as much as Mel but he’s probably not that far off.
 

I think we can say he isn’t Erik Alonso Mark 2. 

His company can be worth $450 million but that doesn’t mean he has $30 million in liquid assets, plus whatever is needed to keep the club running after the purchase. He’d technically be ‘worth’ however much the company is worth, but it doesn’t mean he can afford the club.

The fact that he’s been chosen as the preferred bidder means he must have enough though. I’m just intrigued as to the source of that money.

[BramcoteRam84]

1 hour ago, DarkFruitsRam7 said:

His company can be worth $450 million but that doesn’t mean he has $30 million in liquid assets, plus whatever is needed to keep the club running after the purchase. He’d technically be ‘worth’ however much the company is worth, but it doesn’t mean he can afford the club.

The fact that he’s been chosen as the preferred bidder means he must have enough though. I’m just intrigued as to the source of that money.

Agreed, the last paragraph is key. He’s proved the funding early on, £100m for club purchase and ongoing funding. Q were robust about this element of the process to remove time wasters (at least they told us they were ). As others have said he has crypto and he’s supposedly he’s from a wealthy family though hes kept their identity quiet, people are apprehensive because we don’t know about him but I think most people (except egomaniacs) would like to keep their finances private.

It will be interesting.

[PistoldPete]

8 hours ago, David said:

If you are referring to the EFL, I haven’t seen what you have seen. I posted the EFL commas tweets in the update thread and that’s all I have seen from them. No point did they mention consulted with the clubs.

I haven’t been following that closely though tbh, so if I have missed something elsewhere I apologise.

It’s in the attachment to the Maguire tweet that you posted. I would like to know when this consultation with the clubs took place , before or after derby went into admin. 
 

or is this another moving of the goalposts, let’s change the rules so we can punish Derby even more.

[Woodley Ram]

This is a really positive step, but I will hold my breathe until all of the signing has been completed. 

[RipleyRich]

8 hours ago, kevinhectoring said:

Don’t understand this. Q are running the process. 

They have to follow a legal process.

If reports are to be believed,  it was after he had full visibility at Preston, that he reduced his bid and the deal fell through.

 

Edited April 7, 2022 by RipleyRich

[RamBeauIV]

9 hours ago, kevinhectoring said:

If Q have not allowed serious bidders ‘access to the accounts’ then they are even more hopeless than it appears. (What do you think was in the data room ?)

Data Room? What's that? I heard rumours of a fabled room beneath Pride Park that our administrators were trying to get some dodgy buyers into apparently.

Yeah, it includes a Rothmans Football Yearbook 1974-75, a print-out of Transfermarkt values; copies of the last 5 sets of accounts lodged by DCFC (hmmm); and one of those bendy rulers we used to have in school in the 1970s for doing straight-line amortisation calculations.

Quote

Premier League? What's that. I heard rumours of a fabled land beyond the Championship that our previous owner was trying to get us into apparently. 

 

[Comrade 86]

2 hours ago, DarkFruitsRam7 said:

I’m just intrigued as to the source of that money.

Slync-io uses blockchain technology so I think there's a significant likelihood that the guy's crypto game is strong.  I also think it's likely that he is not the exclusive source of funding for his respective consortium.

[dcfcreece1601]

Why didn't the koala bear become a plumber? Because he didn't have any koala-fications.

 

I like derby county

[kevinhectoring]

39 minutes ago, RipleyRich said:

they have to follow a legal process.

There is no legal process that determines how Q runs the auction, it’s up to them. 
 

Their plan for a PB was just about defensible when they proposed a meaningful deposit. Without that, it sounds too much like they have simply given him an option.

so, if Rooney leaves us in a month, will CK just walk away saying ‘ we just can’t agree these final details ‘ ?  Dunno  But it sounds like he has the right to do that 

[Jimbo Ram]

14 minutes ago, dcfcreece1601 said:

Why didn't the koala bear become a plumber? Because he didn't have any koala-fications.

 

I like derby county

My sides are still hurting.....

[RoyMac5]

4 minutes ago, kevinhectoring said:

There is no legal process that determines how Q runs the auction, it’s up to them. 
 

Their plan for a PB was just about defensible when they proposed a meaningful deposit. Without that, it sounds too much like they have simply given him an option.

so, if Rooney leaves us in a month, will CK just walk away saying ‘ we just can’t agree these final details ‘ ?  Dunno  But it sounds like he has the right to do that 

I imagine he can do as he did at PNE. Take a gander at the 'hidden books' and try and renegotiate. He's been given exclusive access which means it's up to him to go through with the deal, or not. But no-one seems to know how long this 'exclusivity' lasts for. Can he just mess about until we're even more desperate and have to accept any old offer?

Edited April 7, 2022 by RoyMac5

[FlyBritishMidland]

12 hours ago, kevinhectoring said:

‘preferred buyer’ is the term-of-art of Q’s  chosing, not a very wise one. The winning bidder (that’s a better term) can be named on whatever terms are agreed between seller and buyer. 
Q were clearly alert to the dangers of a flabby appointment - that’s partly why the deposit was going to be non-refundable. The danger is you tw-t around with a ‘Pb’ for weeks to no avail then find everyone else has moved on to the next deal 
 

it’s unbelievable, stunning incompetence. q has no control at all over the M&A process 

I don’t think ‘preferred bidder’ is Quantuma’s term.  If so, why have clubs in administration announced a ‘preferred bidder’ why are Chelsea (although not in administration) about to choose a ‘preferred bidderk out of the four that have bid.  Are they all wrong?

[Curtains]

8 minutes ago, RoyMac5 said:

I imagine he can do as he did at PNE. Take a gander at the 'hidden books' and try and renegotiate. He's been given exclusive access which means it's up to him to go through with the deal, or not. But no-one seems to know how long this 'exclusivity' lasts for. Can he just mess about until we're even more desperate and have to accept any old offer?

Well Ashley or Appleby could do that i fact any PB could so what’s your point !

[RoyMac5]

Just now, Curtains said:

Well Ashley or Appleby could do that i fact any PB could so what’s your point !

The point is as I said - Q have given him exclusivity to buy the Club. How long has he got to make up his mind?

[kevinhectoring]

9 minutes ago, RoyMac5 said:

I imagine he can do as he did at PNE. Take a gander at the 'hidden books' and try and renegotiate. He's been given exclusive access which means it's up to him to go through with the deal, or not. But no-one seems to know how long this 'exclusivity' lasts for. Can he just mess about until we're even more desperate and have to accept any old offer?

Don’t think he’s been offered exclusive access to information we’ve been through two bidding rounds so everyone has had the diligence. What they have have given him is exclusive right to negotiate with them.  Q can’t talk to other bidders. 

[Curtains]

1 minute ago, RoyMac5 said:

The point is as I said - Q have given him exclusivity to buy the Club. How long has he got to make up his mind?

So you aren’t inferring he might be the wrong fit then by all this ! 

[hintonsboots]

A question for the collective. A few posters have attempted to estimate CK’s wealth and we don’t know if he is backed by other investors. If he is at a reasonable wealth level, I think somebody said similar to Mel ( although that’s unknown) why not buy the stadium?