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The Administration Thread


Boycie

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12 minutes ago, Loughborough Ram said:

Can't help thinking that we have been well and truly stitched up by the EFL.

 

They were happy to stand by and watch Morris steal Pride Park off the club, and now they are at the forefront aiding him in holding the club to ransom by insisting that they will only sign the takeover off once a deal has been done on the ground.

 

Feels like we've just been held up by Dick Turpin

I loathe them and always will but they cant really sign it off if we have nowhere to play

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56 minutes ago, Brailsford Ram said:

Too late. The EFL has already done so much malicious damage to Derby County this season that the best possible outcome for the club is impossible to achieve. DUCK THE EFL.

"continue"? When did they start?

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1 hour ago, B4ev6is said:

And people are saying kircher not got the money oh I think he has.?

Why is he relying on others to buy the ground and taking 35p in the pound over THREE years, could that be because he can't afford 25p straight off.....

Ill give him the benefit of the doubt fir now, but the first time the accounts are more than a month late, Ill be on his case, thats how it started with Mel....

 

Edited by RAM1966
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8 minutes ago, IslandExile said:

That said.... It was great last night to be one of the few still reading the forum when @CamTheRam broke the news to us. We had a lovely party while the rest of you were sleeping.

We did indeed. So long to nod off though. Was so excited about reading the posts when people first signed on this morning was really surprised by all the negativity

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3 hours ago, RAM1966 said:

Its the same as a housing chain contracts are set up via the 3 solicitors and the money moves through the solicitors, that way Morris could not run off with the money, if that's what you think the worry is about.  I imagine the purchase of the club and stadium will go through simultaneously too as well.

Providing there is an agreed sale price on the stadium that the vendor and purchaser have agreed to, with structural surveys being sound, no curve balls, it should all go through.

Im not convinced that Mel has agreed a sale price though, which is why CKs grand gestures last night may jbe booking the Lord Mayors Show a littlrle prematurely!

Mods can we have a yawning emoji please?

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8 minutes ago, RAM1966 said:

Why is he relying on others to buy the ground and taking 35p in the pound over THREE years, could that be because he can't afford 25p straight off.....

Ill give him the benefit of the doubt fir now, but the first time the accounts are more than a month late, Ill be on his case, thats how it started with Mel....

 

Or perhaps that he wants to make sure everyone gets paid first.

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2 minutes ago, RAM1966 said:

Why is he relying on others to buy the ground and taking 35p in the pound over THREE years, could that be because he can't afford 25p straight off.....

Ill give him the benefir of the doubt, but the first time the accounts are more than a month late, Ill be on his case, tgats how it started with Mel....

 

I may well be wrong but my understanding is that the difference to the Club between any potential owner paying 25p in the pound and 35p is the difference between getting hit with a 15 point penalty next season and not. Paying it over 3 years at least means those owed will eventually get more, albeit it will take longer. In the short to medium term it may also increase the tranefer budget.

Obviously the Kircher announcement overnight hasn't gone down well with you - tough!

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21 minutes ago, CBRammette said:

We did indeed. So long to nod off though. Was so excited about reading the posts when people first signed on this morning was really surprised by all the negativity

I’m not surprised really given all that’s happened over the last 8 months, all the false hopes, and the fact that it is all still conditional on PP. 

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39 minutes ago, RAM1966 said:

Why is he relying on others to buy the ground and taking 35p in the pound over THREE years, could that be because he can't afford 25p straight off.....

Ill give him the benefit of the doubt fir now, but the first time the accounts are more than a month late, Ill be on his case, thats how it started with Mel....

 

It could be that he doesn’t have the money as you seem to be implying with your question. Or could it be he does have the money, and would rather not spend it all righting the wrongs and clearing the total amount of debts accrued by the previous owner?

Perhaps he’s seen an opportunity to acquire the club as he sees some potential (Rooney, fan base, academy, infrastructure etc); has a clear plan in place that pays the debts over 3 years at 35p in the pound meaning the club isn’t hamstrung further with additional points deductions and a less restrictive business plan, also meaning he can gradually rebuild the club and pay some of the debts accrued, whilst leaving some money to invest in time as part of this longer term, sensible business plan. 
 

There are only a handful of people who know all the facts of this situation; however, allegedly Kirchner has had to prove his liquidity to the admins and the EFL, both of whom have released statements which, whilst contingent on the massive stadium shaped elephant in the room, say they are satisfied with him becoming the future owner of the club. I appreciate people wanting to stay grounded and be realistic but surely there is currently more call for optimism than there has been in months and months? 

Edited by Caerphilly Ram
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37 minutes ago, RAM1966 said:

Why is he relying on others to buy the ground and taking 35p in the pound over THREE years, could that be because he can't afford 25p straight off.....

Ill give him the benefit of the doubt fir now, but the first time the accounts are more than a month late, Ill be on his case, thats how it started with Mel....

 

Because he won’t pay that for League 1 club.

This isn’t about has Kirchner got the money, it’s about the right price of a business transaction and right now the club is worth £25-30m tops, to buy the ground plus 25-35p in the pound on debts we’d be c.£45m, Mel paid £50m when we were on the verge of playoff glory ending in failure in 2014.

The 35p over 3 years, could easily have been because he could give Rooney a more competitive business plan possibly. 
 

 

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2 hours ago, RAM1966 said:

Why is he relying on others to buy the ground and taking 35p in the pound over THREE years, could that be because he can't afford 25p straight off.....

Ill give him the benefit of the doubt fir now, but the first time the accounts are more than a month late, Ill be on his case, thats how it started with Mel....

 

Playing hypothetical here...

Whether 25% or 35% for unsecured, I doubt the amount to be paid to HMRC will differ. For this exercise, we'll say it's £15m. Preferential and football creditors will also get their 100% and there will be no change to the payment schedules so can be ignored when comparing the difference. We can round unsecured creditors to £5m.

Scenario 1 is him paying 25% of unsecured upfront and buying the stadium for £20m - total cost is £36.25m

Scenario 2 is 35% paid in 3 installments, rent of £1.5m per year, but remaining money is invested and yields 10%, then stadium bought after year 3 - total cost is £33.8m.

By choosing scenario 2, he'd be £2.5m better off.

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5 minutes ago, B4ev6is said:

I very very very much doubt that mate.

Me too B4 but hinstonsboots is just having a little joke at the expense of the Boro chairman. It has a ring to it as a stadium name! How would you feel about the ground being sponsored B4? Or are you not too worried as long as we have our Derby to support?

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