The Administration Thread

[MackworthRamIsGod]

Ed Dawes and radio Derby have basically dropped the bomb and told us what some suspected all along.

Kirchner hasn't responded, that tells us everything we need to know.

I said yesterday, Kirchner is so vocal on Twitter, he is a No News is not good news kinda guy.

I still think CK isn't the main man in the deal and I think the real main man is Stretford and the whole thing has been rumbled.

[Mostyn6]

4 minutes ago, Tamworthram said:

The precedent is a working knowledge (not expert) of how global transfer of funds work. I have seen enough such transfers (admittedly not of this magnitude but, as I say, I wouldn't have thought it would make a significant difference) to know they wouldn't normally take more than 3 or 4 days to arrive from the US. Obviously I can't provide specific examples as they were some time ago and not my money. If you're demanding specific examples, sorry.

How do you know how many transactions there are? I appreciate there are numerous creditors that need to be paid but I would have thought the funds transfer from the US would only be one payment to the administrators (maybe I'm wrong again).

I won a £2468 bet in December, it took nearly 10days for Paypal to release the money once SkyBet cashed it. They did credit checks on me, ID checks, all kinds of laundering nonsense, all for <£2500!

As for the multiple transactions, there is a tweet, from CK himself, a couple of weeks ago, stating how it would flow, before the club would be his. It was something like money goes to UK, then to Quantuma, then to Creditors/MSD, then the Creditors gets divided and some things released in court, MSD do something to release the charge and stadium, then the funds for the Stadium sale (3rd party) will exchange... etc.etc.etc. Lots of little things. Then Quantuma apply for the club to leave Admin...

[Leeds Ram]

2 minutes ago, RammingStone66 said:

Well it's a potentially huge opportunity for his company and to be in bed with the Saudis will probably make him more money than Derby will, so I can understand why he is playing golf. I'm not saying it's right but I can definitely see why he is doing it 

Personally, I'm struggling to comprehend how he's not ditching the round of golf, making his excuses and getting on communication channels such as radio derby to reassure people. If a deal collapses because he misses a round of golf then I'd be absolutely amazed. 

[CornwallRam]

I think it's possible that both Nixon and Dawes are correct.

If Kirchner had transferred the money but it has been flagged for further enquiries, it could delay the takeover past the date we need things to be in place to take up our league place. That way  the deal will collapse as Kirchner will not pay £20m for a leagueless club.

[WhiteHorseRam]

44 minutes ago, G STAR RAM said:

Thats all of the paperwork complete, just transferred funds and expect something to happen in the next 48 hours.

I think you will all be pleasantly surprised how quickly things move now..

 

I can see the EFL viewing your pics now ...

 

"Well, no problems here ...."

 

[Comrade 86]

12 minutes ago, Tamworthram said:

The precedent is a working knowledge (not expert) of how global transfer of funds work. I have seen enough such transfers (admittedly not of this magnitude but, as I say, I wouldn't have thought it would make a significant difference) to know they wouldn't normally take more than 3 or 4 days to arrive from the US. Obviously I can't provide specific examples as they were some time ago and not my money. If you're demanding specific examples, sorry.

How do you know how many transactions there are? I appreciate there are numerous creditors that need to be paid but I would have thought the funds transfer from the US would only be one payment to the administrators (maybe I'm wrong again).

If the money is already in escrow, then the transfer has been made, has it not? It may simply be delayed due to additional security measures as outlined on numerous occasions, by numerous posters. Also, using escrow does require multiple transactions for each destination account - to escrow account and from escrow account. Rather than the wild accusations (not referring to you with this comment) we've seen this morning, how about we hold tight and see what happens? Either way, we'll know soon enough. After standing firm for 2 years + through all the trials and tribulations, mere days scarcely matter to my way of thinking. 

Edited June 8, 2022 by 86 Hair Islands
typo

[BriggRam]

19 minutes ago, cosmic said:

Bit harsh ?

Sometimes you gotta be cruel to be kind

Edited June 8, 2022 by BriggRam

[LazloW]

People getting upset about CK playing golf probably need to accept that DCFC is probably not the most important thing in his life (unsurprisingly).  He’s already implied this in many tweets (I think some people genuinely thought he’d fly over here for every game or move to Derby). This is a business deal to him. DCFC means very little to him on a personal basis. If the deal doesn’t go through then, to him, it will just be business. Not palatable for a fan, perhaps, but it is reality. 

 So I don’t see why anybody would expect him not to be going about his daily business and sticking to previous commitments, not least because he’s probably got a phalanx of lawyers and others doing his bidding. What is he likely to be able to do himself anyway?

Given his use of Twitter, I am a bit surprised by the lack of communication; I’ve always thought this would bite him on the bum because people would a: expect him to give running commentary on every aspect of his life and DCFC but also because any radio silence is taken as ominous (as I am now doing). 

[nogbad van 50]

11 minutes ago, jono said:

On radio Derby .. unconfirmed news that the deal had collapsed

Two reasons why I’m still hopeful it’ll happen ?

[Tamworthram]

3 minutes ago, Mostyn6 said:

I won a £2468 bet in December, it took nearly 10days for Paypal to release the money once SkyBet cashed it. They did credit checks on me, ID checks, all kinds of laundering nonsense, all for <£2500!

As for the multiple transactions, there is a tweet, from CK himself, a couple of weeks ago, stating how it would flow, before the club would be his. It was something like money goes to UK, then to Quantuma, then to Creditors/MSD, then the Creditors gets divided and some things released in court, MSD do something to release the charge and stadium, then the funds for the Stadium sale (3rd party) will exchange... etc.etc.etc. Lots of little things. Then Quantuma apply for the club to leave Admin...

I doubt CK will be using PayPal but rather the more traditional global payments system.

I'd be stunned if a payment from bank A in the US to bank B in the UK took anything like 10 days to clear but I stand to be corrected. 

Point taken about multiple payments but I was under the impression (admittedly based on speculation mostly on this forum) that the issue was relating to the funds arriving from  the US. 

[w8sey]

Don't know if this has already been posted but the BBC article now says that "Kirchner has told BBC sport that he expects the deal to be done today"

[RipleyRich]

14 minutes ago, Woodypecker said:

I'd guess that Q will terminate CK's 'period of exclusivity', upon a (yet to be disclosed) deadline, if things go t!ts-up

...and then, there are merely days before the EFL has to publish fixtures, for an alternative DCFC takeover deal to be proposed, ratified and concluded. Fat chance.

...or we enter 2022/23 still in administration.

But where will funds come from, to guarantee that DCFC can complete L1 fixtures?

I'm not sure that starting the season in administration is possible without a squad and under a Transfer embargo.

Unless of course the EFL are prepared to bend the rules.

[Ram@Lincoln]

17 minutes ago, Leeds Ram said:

Personally, I'm struggling to comprehend how he's not ditching the round of golf, making his excuses and getting on communication channels such as radio derby to reassure people. If a deal collapses because he misses a round of golf then I'd be absolutely amazed. 

It's not just any round of golf. It's a invitational only tournament between pros and amateurs that's owned by the public purse of Saudi Arabia. There's a Saudi Prince playing in this tournament, who's worth circa £20 billion according to various articles. Just by attending, the loser of the tournament finishing 48/48 takes home at least $120k. The winner receives more than the winner of The Masters or the PGA Championship. The game is on the 11th June, so Kirchner will be practicing for this. 

https://www.skysports.com/golf/news/12176/12628912/liv-golf-invitational-series-all-you-need-to-know-ahead-of-inaugral-tournamnet-at-centurion-club

Edit - Then on this, you'd only get invited to this if you're either massively loaded or you have strong relationships with very influential connections who are massively loaded or royalty. A basic commoner isn't getting to play in this tournament, you have to be a someone or know one.

Edited June 8, 2022 by Ram@Lincoln

[dajstrawb]

4 minutes ago, w8sey said:

Don't know if this has already been posted but the BBC article now says that "Kirchner has told BBC sport that he expects the deal to be done today"

Well that’s got to be a glimmer of light surely 

[Tamworthram]

9 minutes ago, 86 Hair Islands said:

If the money is already in escrow, then the transfer has been made, has it not? It may simply be delayed due to additional security measures as outlined on numerous occasions, by numerous posters. Also, using escrow does require multiple transactions for each destination account - to escrow account and from escrow account. Rather than the wild accusations (not referring to you with this comment) we've seen this morning, how about we hold tight and see what happens? Either way, we'll know soon enough. After standing firm for 2 years + through all the trials and tribulations, mere days scarcely matter to my way of thinking. 

Are the funds in an escrow account in the UK? I must have missed that.

I'm just trying to make sense of the delays being attributed to the funds transfer. If they have arrived and are in an escrow account awaiting distribution then that's great news and I don't know why anyone (including Radio Derby) are suggesting the deal may collapse.

[Bwash_Ram]

 

[RadioactiveWaste]

2 minutes ago, w8sey said:

Don't know if this has already been posted but the BBC article now says that "Kirchner has told BBC sport that he expects the deal to be done today"

Well, he's not going to say "lolz not happening." Is he?

The golf round he's playing is obviously something he has paid for, DCFC something he hasn't.

The golf is bad optics - but of cK is playing it straight then he can't do anything to speed up the money so might as well play golf  If he's not playing it straight the playing golf is irrelevant.

[RipleyRich]

3 minutes ago, Ram@Lincoln said:

It's not just any round of golf. It's a invitational only tournament between pros and amateurs that's owned by the public purse of Saudi Arabia. There's a Saudi Prince playing in this tournament, who's worth circa £20 billion according to various articles. Just by attending, the loser of the tournament finishing 48/48 takes home £120k. The winner receives more than the winner of The Masters or the PGA Championship. The game is on the 11th June, so Kirchner will be practicing for this. 

https://www.skysports.com/golf/news/12176/12628912/liv-golf-invitational-series-all-you-need-to-know-ahead-of-inaugral-tournamnet-at-centurion-club

Ahhhh, makes sense now.

Hes hoping to win that to pay June's wages....

 

[DCFC Kicks]

Ashley should have been first choice all along. Everyone knows he's got the funds. He's got past experience running a club.

It's obvious the only reason he wasn't picked is because Mel/Quantuma want an unrealistic amount of money and keep trusting these dodgy characters out of desperation.

If the deal collapses we won't have time to complete another one. Rooney will go. If we're not kicked out the league entirely we'll highly likely get relegated to League 2 next season.

[Leeds Ram]

1 minute ago, Ram@Lincoln said:

It's not just any round of golf. It's a invitational only tournament between pros and amateurs that's owned by the public purse of Saudi Arabia. There's a Saudi Prince playing in this tournament, who's worth circa £20 billion according to various articles. Just by attending, the loser of the tournament finishing 48/48 takes home £120k. The winner receives more than the winner of The Masters or the PGA Championship. The game is on the 11th June, so Kirchner will be practicing for this. 

https://www.skysports.com/golf/news/12176/12628912/liv-golf-invitational-series-all-you-need-to-know-ahead-of-inaugral-tournamnet-at-centurion-club

Great, Saudi blood money is involved which definitely makes it an attractive proposition. What is 120k to Kirchner? he's supposed to be on the verge of tying up a 20 million pound deal for us. I presume this is the same tournament that is trying to rival the PGA and they have not taken kindly to it past the inaugural event which they're not going to bar anyone from.