The Administration Thread

[RoyMac5]

Just now, BondJovi said:

In that case Mel still has some form of hold on the club. He has had months to do the right thing and hasn't. Do you honestly believe anyone is going to want to pay Mel's price?

And that is what is being haggled right now isn't it. Just how much MM gets for the stadium. I understand CK wants to get it as cheaply as possible, is that likely?

[RadioactiveWaste]

Is there any indication on what level of certainty CK would eed regarding the ground, given timescales are "pressing" - would he accept agreement in principle being put in writing?

If he's nailing his colours to the transaction must happen before his transaction for DCFC it seems to have the potential to all fall apart.

[Bald Eagle's Barmy Army]

1 hour ago, RoyMac5 said:

He wants the stadium? Why doesn't he buy it?

Because it’s a massive financial burden on the club and him, whereas leasing it for the short term and buying it when the club can afford it makes more sense. 

[curb]

7 minutes ago, RadioactiveWaste said:

Is there any indication on what level of certainty CK would eed regarding the ground, given timescales are "pressing" - would he accept agreement in principle being put in writing?

If he's nailing his colours to the transaction must happen before his transaction for DCFC it seems to have the potential to all fall apart.

From my understanding of the meeting he’s signing an agreement to buy the club this week after (hopefully) getting the OK from the EFL to pass over the league membership to his company, then it will take until the end of may/early June to bring us out of administration, that being conditional on the change of ownership of the stadium by then.

Edited May 2, 2022 by curb

[RoyMac5]

3 minutes ago, Bald Eagle's Barmy Army said:

Because it’s a massive financial burden on the club and him, whereas leasing it for the short term and buying it when the club can afford it makes more sense. 

Okay. But why does that entail MM not owning the stadium until then?

[duncanjwitham]

I suspect (absent any other evidence) that the issues with Morris retaining ownership of the stadium aren’t the fact it’s Morris that owns it, it’s that the MSD loan would likely remain in place with Morris servicing it from the rent we pay.  So that’s a ticking time bomb that could go off if Morris runs out of money and decides to sell, or the club has further financial issues and misses rent, or a dozen other potential things. If it’s safely in the hands of the council, it’s probably a much safer bet medium-to-long-term.

[angieram]

I just think Kirchner doesn't want MM involved in any way. Neither do we, or Team Derby. I think Team Derby have a history and relationship with MM that puts them in the best place to negotiate a dignified departure for the owner, which leaves the stadium in the hands of people who care about the future of the club.

I actually wouldn't mind if the council owned the ground long term but more likely there will be a transfer in due course. 

As for CK's money, the Sun reported yesterday he has shown proof of £100 million to the EFL. Why 'waste' £20 million of that up front, if he can keep it to invest it in the team, then he'll be in a better place to buy the stadium back down the line. 

[jono]

1 hour ago, RoyMac5 said:

Oh don't be so clever-clever. It's a reasonable question and I see you don't know the answer.

Why doesn't CK buy the stadium, has he said? Why does he want it out of Morris's hands if he doesn't want to buy it?

I suspect it the same reason people lease cars. They are expensive. 

[S8TY]

15 minutes ago, BondJovi said:

In that case Mel still has some form of hold on the club. He has had months to do the right thing and hasn't. Do you honestly believe anyone is going to want to pay Mel's price?

Exactly this its ridiculous to assume that anyone who is paying out millions to basically clear someone else's debts ...that the said culprit of those debts is in a position to hold the keys to the stadium!!!!  Morris owes us Roymac and all of us fans for what he's put us through and I hope to god he relinquishes the stadium back to the football club where it belongs....I don't give a stuff if he loses money on the deal.....how can anyone think Morris should get a few million for the stadium is beyond me......has everyone forgot what that clown has done to this club!!!

[RoyMac5]

5 minutes ago, S8TY said:

Exactly this its ridiculous to assume that anyone who is paying out millions to basically clear someone else's debts ...that the said culprit of those debts is in a position to hold the keys to the stadium!!!!  Morris owes us Roymac and all of us fans for what he's put us through and I hope to god he relinquishes the stadium back to the football club where it belongs....I don't give a stuff if he loses money on the deal.....how can anyone think Morris should get a few million for the stadium is beyond me......has everyone forgot what that clown has done to this club!!!

I'm asking why CK is putting on his condition. Just trying to understand what's what.

I'd really like Morris long gone. I don't want to be blinded by my dislike of him however.

[S8TY]

15 minutes ago, angieram said:

I just think Kirchner doesn't want MM involved in any way. Neither do we, or Team Derby. I think Team Derby have a history and relationship with MM that puts them in the best place to negotiate a dignified departure for the owner, which leaves the stadium in the hands of people who care about the future of the club.

I actually wouldn't mind if the council owned the ground long term but more likely there will be a transfer in due course. 

As for CK's money, the Sun reported yesterday he has shown proof of £100 million to the EFL. Why 'waste' £20 million of that up front, if he can keep it to invest it in the team, then he'll be in a better place to buy the stadium back down the line. 

Great post and makes perfect sense to me...the statement from CK regarding wanting Morris out of the picture also makes perfect sense but has unfortunately got a few of us worried this might not happen in time for saturday.

Us as fans are so fragile it seems because of all of the false promises and endless negotitaions and buyers and preffered bidders etc is it any wonder though that it only takes one comment to make us worry.....No football ground should ever be seperated from the club and hope it comes back to where it belongs and will never be used as collateral or a bargaining tool in the future ...PP is our home!!!

[G STAR RAM]

51 minutes ago, RoyMac5 said:

I'm not advocating anything. I'm asking WHY CK is putting the condition he is on him buying the Club. Why do you think he is insisting MM doesn't own PP?

Because MM has shown that he has absolutely no interest in anyone other than himself now?

We also have no idea of what provisions were in the lease between the Landlord and DCFC. 

[S8TY]

4 minutes ago, RoyMac5 said:

I'm asking why CK is putting on his condition. Just trying to understand what's what.

I'd really like Morris long gone. I don't want to be blinded by my dislike of him however.

Would you buy a home pay off the debts of the previous owners then have to pay the previous owner to rent the garden?

[curb]

3 minutes ago, S8TY said:

Great post and makes perfect sense to me...the statement from CK regarding wanting Morris out of the picture also makes perfect sense but has unfortunately got a few of us worried this might not happen in time for saturday.

Us as fans are so fragile it seems because of all of the false promises and endless negotitaions and buyers and preffered bidders etc is it any wonder though that it only takes one comment to make us worry.....No football ground should ever be seperated from the club and hope it comes back to where it belongs and will never be used as collateral or a bargaining tool in the future ...PP is our home!!!

Don’t expect it to be done by Saturday, it will will be a few weeks after that we exit administration, Saturday is an agreement to purchase and the OK to go ahead from the EFL.

[RoyMac5]

3 minutes ago, S8TY said:

Would you buy a home pay off the debts of the previous owners then have to pay the previous owner to rent the garden?

Because you'd be getting the garden at a cheap price?

[S8TY]

1 minute ago, curb said:

Don’t expect it to be done by Saturday, it will will be a few weeks after that we exit administration, Saturday is an agreement to purchase and the OK to go ahead from the EFL.

But CK said not if MM has control of the stadium or have i got it wrong ?

[jono]

4 minutes ago, RoyMac5 said:

I'm asking why CK is putting on his condition. Just trying to understand what's what.

I'd really like Morris long gone. I don't want to be blinded by my dislike of him however.

I’m guessing there is some risk assessment going on. So new owner signs deal to rent stadium from MM but MM somehow messes up his repayments with MSD and suddenly they own the stadium and want to change / re negotiate terms. 
In essence with all the finance folk involved it’s dicey.. CK would be sub letting from Mel, but the principal is really MSD. I think CK wants a clear picture .. cosy deal with local council and a possible option to buy … or in the hands of smart arse fiscal wiz kids with the ethics of a three cup game operator at a fun fair. 
 

pure speculation and opinion on my part .. of course ! 

[S8TY]

Just now, RoyMac5 said:

Because you'd be getting the garden at a cheap price?

I'd tell the owners to get stuffed...he's left this club in a real mess owing millions but now wants the new saviour who's paying the debts he got us into by poor management ......to pay him rent as well...you couldn't make it up!!!!

[Eddie]

1 hour ago, Naughty James said:

Naughty James, known by the authorities as Craig Cowling.

 

Photographer who has worked with some of Britain's biggest stars.  You'll have seen my work in @VICE, Dazed & Confused, Harper's Bazaar, Vogue Japan and i-D.

I can honestly say that I've never seen any of those programmes/magazines/breakfast cereals/mollusc-processing factories.

p.s. whelkome to the forum

Edited May 2, 2022 by Eddie

[The Scarlet Pimpernel]

21 minutes ago, RoyMac5 said:

I'm asking why CK is putting on his condition. Just trying to understand what's what.

I'd really like Morris long gone. I don't want to be blinded by my dislike of him however.

Because, I assume, he wants to deal with a dispassionate stable organisation rather than a tainted local businessman who has a bad reputation. Far more stability going forward. Isn't that obvious?