The Administration Thread

[RAM1966]

44 minutes ago, PistoldPete said:

The stadium has never been a big hurdle .. it has only become an issue now because of the need to get a quick sale. The council may not be able to do due diligence in time. The biggest hurdle all along has been the EFL. And Parry is very keen of course to suggest otherwise. What a contemptible man. 

So why has the stadium never been a big hurdle then Mel?

The only way purchading the club as a viable option is to include the Stadium as a good will guesture for £1.  The club is worth £30-35m in league 1.  The debts are that, therefore the man that made the mess if he's truly a fan, would dig deep.

After all you, er sorry Mel, bought a team that narrowly missed out on a Play Off places and destroyed a club, which no longers owns the ground and has 5 contracted players.

So yes the ground is an issue, always has been......

As I said months ago, Mel is still pulling the strings and can cave any deal he does not like.  Hate the man with a passion...

Edited May 10, 2022 by RAM1966

[PistoldPete]

6 minutes ago, RAM1966 said:

Are you Mel Morris?  Can't believe your still defending him.....

I didn’t mention him leave alone defend him.  Why is pointing out the Efl multiple failings seen as a defence of Mel Morris?

Morris has taken us into administration. He either spent more money than he can afford , or he is not willing to pay for debts he has a moral responsibility for. There is no defence for Morris either way. 
 

But after PPS is sold we will have no further dealings with Mm. unfortunately we still have to deal with the Efl . Until there is massive reform , including an independent regulator the problems that Derby have suffered will only be repeated at other clubs. 

[i-Ram]

1 hour ago, Gaspode said:

Someone looking long-term might - suspect MA would take that as a possibility if it meant he could save £10-15M on the initial purchase price….. and while Rooney is a huge asset currently (and I have huge respect for the way he’s handled himself and the job he’s doing), I’m sad to say he’s also relatively expensive and is not irreplaceable - there are other managers out there who could rebuild us….

 

[Rich84]

1 hour ago, Gaspode said:

Someone looking long-term might - suspect MA would take that as a possibility if it meant he could save £10-15M on the initial purchase price….. and while Rooney is a huge asset currently (and I have huge respect for the way he’s handled himself and the job he’s doing), I’m sad to say he’s also relatively expensive and is not irreplaceable - there are other managers out there who could rebuild us….

 

1 hour ago, CornwallRam said:

I think Mike Ashley's plan is League 2 for next season with no imposed business plan. Sports Direct pay us £20m for advertising - which is a tax loss for them. We walk League 2 and by 23/24 we're a very competitive League 1 side.

 

Personally I don't get this, save £10m now and alienate a lot of fans, losing the positive vibe that weirdly this season had generated and likely to be fighting relegation again with a scratch side.

Don't kid ourselves, this was a special season due to what WR and the players did on the pitch and our anger towards the EFL, start  on -15 with a new management team, no time to prep, no bond with the new players and I give it 3 months before sections of the crowd turn....

Consequently we could easily end up in Ipswich's situation of high running costs and not enough income so would lose more than the £10m after wallowing in L1 or God help us L2, not being able to attract good enough players, the grd and Moor Farm becoming tatty due to lack of investment, no longer a good prospect for youngsters to come from Arsenal's academy etc when they are released.

Just doesn't make sense.

Curious why if MA comes in and doesn't meet the min requirements means no EFL imposed business plan, don't get it, I'm convinced we will have a 2 year plan as a min irrespective,  and so we should after screwing so many businesses over.

[May Contain Nuts]

2 hours ago, Archied said:

But your talking about Ashley and he’s not most football chairman as his track record at Newcastle shows along with his business style elsewhere 

I know we're talking about Ashley.

That's how this whole line of conversation started in the first place - someone saying why don't see what's wrong with Ashley's approach or why fans are against him, ironically enough grouping him together with most football chairman by implying that he's just doing what any and every good businessman would do.

Except as you've just said yourself, Ashley is not just any businessman, not just any chairman. Not everyone looking to buy a football club is a vulture capitalist, at least not to such an extreme length.

Edited May 10, 2022 by Coconut's Beard

[Mostyn6]

a few years ago, I put my 12" Vinyl (Music) Collection (records for the youngsters) on eBay. Easily four figure value.

Some moron PM'd me within 10 minutes offering me £300 cash for a quick sale.

I didn't respond to him. Not cos I'm incompetent. But because he was a cheapskate chancer trying it on.

People backing Ashley need to consider that his bid was so insulting, it wasn't worthy of a response.

[RoyMac5]

15 minutes ago, Mostyn6 said:

a few years ago, I put my 12" Vinyl (Music) Collection (records for the youngsters) on eBay. Easily four figure value.

Some moron PM'd me within 10 minutes offering me £300 cash for a quick sale.

I didn't respond to him. Not cos I'm incompetent. But because he was a cheapskate chancer trying it on.

People backing Ashley need to consider that his bid was so insulting, it wasn't worthy of a response.

Except your vinyl collection isn't worth four figures, that is just what you'd like for it to pay off your debts. It's actually worth more like £500.

[I am Ram]

19 minutes ago, Mostyn6 said:

a few years ago, I put my 12" Vinyl (Music) Collection (records for the youngsters) on eBay. Easily four figure value.

Some moron PM'd me within 10 minutes offering me £300 cash for a quick sale.

I didn't respond to him. Not cos I'm incompetent. But because he was a cheapskate chancer trying it on.

People backing Ashley need to consider that his bid was so insulting, it wasn't worthy of a response.

£310 final offer.

[RadioactiveWaste]

Oh dear, you didn't list them individually (especially the rare ones)?

[Boycie]

21 minutes ago, Mostyn6 said:

a few years ago, I put my 12" Vinyl (Music) Collection (records for the youngsters) on eBay. Easily four figure value.

Some moron PM'd me within 10 minutes offering me £300 cash for a quick sale.

I didn't respond to him. Not cos I'm incompetent. But because he was a cheapskate chancer trying it on.

People backing Ashley need to consider that his bid was so insulting, it wasn't worthy of a response.

£320 can you hold it for me til next Thursday hun? Oh and deliver?

[PistoldPete]

30 minutes ago, RAM1966 said:

So why has the stadium never been a big hurdle then Mel?

The only way purchading the club as a viable option is to include the Stadium as a good will guesture for £1.  The club is worth £30-35m in league 1.  The debts are that, therefore the man that made the mess if he's truly a fan, would dig deep.

After all you, er sorry Mel, bought a team that narrowly missed out on a Play Off places and destroyed a club, which no longers owns the ground and has 5 contracted players.

So yes the ground is an issue, always has been......

As I said months ago, Mel is still pulling the strings and can cave any deal he does not like.  Hate the man with a passion...

As others (Kevin for example ) have said the issue is not PPS but the MSD loan secured against it. A loan that was taken out to fund COVID related cash flow problems , whilst other clubs were allowed to access a loan via the EFL.  But EFL prevented us from having access to that. So that is one of many reasons why Parry is very keen to put out misleading statements about the problems we have had..   

The MSD loan is a liability of DCFC, not of Mel Morris. But I understand he is willing to sell the stadium for a price not exceeding the debt which we owe to MSD and then use that money to clear our debt to MSD. Whatever moral responsibility you or I believe Morris has to do this, (or go even further if he can) I do not think there is any legal reason for him to do it. SO we are relying on his goodwill. Death threats and abuse are never a good idea, least of all in the situation we are in. 

[Crewton]

4 minutes ago, Boycie said:

can you hold it for me til next Thursday hun?

?

[jono]

There has to be a stadium deal because MSD are driving this. It is about money, pure and simple. I doubt Mel is very liquid.

We owe MSD 20 million. If we come out of Admin with CK they get 5 million. So Mel stands to lose the whole stadium or has to stump up 15 million .. or he has to get sufficient rental from it to fund his debt repayment to MSD or surrender whatever other security he has given them on other assets. What we don’t know is the price Mel is asking 20 / 40 / 60 / 80 ? And how much he is prepared to gamble (the risk of DCFC going completely bust will leave him holding a very expensive baby that MSD will take off him for not very much if the worst happens) 

[scout's dad]

10 hours ago, jimtastic56 said:

So Mels offering a ground worth £81 mill for £20 mill. He is giving away £61 million and CK and Ashley don’t want it ? What a generous bloke Mel is! 

 

“”£20 million for the stadium as is, £81 million with roof”.

[Oldben]

My thoughts ...

Mm prepared to make offer on stadium, a bargain basement 22 million instead of the 25 million he had wanted.

Hardly call that prepared to make an offer.

Generosity knows no bounds.

He leaves derby 60+ million in debt, part of which is a loan against the stadium for 30 million to msd.

The lucky new owner has to agree to a repayment plan with msd before paying off mm separately.

[Tamworthram]

13 minutes ago, PistoldPete said:

As others (Kevin for example ) have said the issue is not PPS but the MSD loan secured against it. A loan that was taken out to fund COVID related cash flow problems , whilst other clubs were allowed to access a loan via the EFL.  But EFL prevented us from having access to that. So that is one of many reasons why Parry is very keen to put out misleading statements about the problems we have had..   

The MSD loan is a liability of DCFC, not of Mel Morris. But I understand he is willing to sell the stadium for a price not exceeding the debt which we owe to MSD and then use that money to clear our debt to MSD. Whatever moral responsibility you or I believe Morris has to do this, (or go even further if he can) I do not think there is any legal reason for him to do it. SO we are relying on his goodwill. Death threats and abuse are never a good idea, least of all in the situation we are in. 

Surely you “not less than”?

[PistoldPete]

9 minutes ago, Tamworthram said:

Surely you “not less than”?

Er.. I think I mean he is not asking for more than that. So he will not sell for less than that but isn’t asking for any more. 

[eccles the ram]

FWIW I think MM wants MA to be the PB and will do anything in his power to get Kirchner off the scene. Correct me if I am wrong but didn't someone say that MM and MA had agreed a deal but it fell through before Christmas?  I believe MM has his hands tied with the loan from MSD on the ground. He may be hoping MA comes up with a better offer. This is all conjecture as noone knows the actual problems. I believe the takeover won't be until a few weeks before the start of the season as this will rumble on and on. We hopefully will still have a club but perhaps without WR and most of our talented young players. I was normally a glass half full one myself but unfortunately I can't see an outcome that will satisfy many people. As long as there is a DCFC I will be there whatever league we are in. UTR!

[Mostyn6]

33 minutes ago, RoyMac5 said:

Except your vinyl collection isn't worth four figures, that is just what you'd like for it to pay off your debts. It's actually worth more like £500.

on the contrary, I got more than I expected, however I wasn't going to give them away for way less than what I knew someone would pay for them. Which on appearance, is what MA appears to have chanced. Early on, Q announced a price to bidders, I bet nobody got near that price, however there will have been degrees of derisory bids.

29 minutes ago, RadioactiveWaste said:

Oh dear, you didn't list them individually (especially the rare ones)?

I took individual pics of the collectible ones. But couldn't be arsed with separate listings. I had every 12" single for Charlatans, Oasis and Weller, as well as all the Smiths vinyls and some collectible RATM Picture vinyls, but my Pinky & Perkys Greatest Hits was the Marque Vinyl

[jono]

What I’d really like to know is

How much is owed to MSD on loans of various types as : 

A football Creditor to DCFC

A normal trade Creditor to DCFC

A secured loan funded by DCFC but secured on the Stadium

Personal loans to Mel that may or may not be secured on the stadium or other Mel properties

There is a very tangled web and we don’t know the half of it.