The Administration Thread

[i-Ram]

1 hour ago, Big Trav said:

Morgan and Ashley straight shootout me thinks 

To be frank Trav, I am not interested in your thoughts. What is the current thinking of your ‘good authority’. He has been right on the money throughout this saga.

[RipleyRich]

53 minutes ago, tomsdubs said:

Already been said they won't be selecting a PB again it'll be whoever turns up first with the right amount of cash.

Preferred bidder or not, a purchase will have to go through a similar process to CK I would assume.

Bid acceptable to Q, access granted to full accounts, bid confirmation, proposal to creditors, proposal to EFL, Fit & Proper Persons Test, Contracts drawn and exchanged, funds transferred etc.

Previously quoted as taking 6 to 12 weeks I believe?

Alongside that, the Stadium has to be sorted in whatever guise that will be with the bidder/s.

Time is critical now, and satisfying EFL re funding for the season is the most urgent issue to resolve as I see it.

[Curtains]

1 minute ago, Tamworthram said:

Given none of us actually know the facts, I think it's more a question of opinions rather than "suiting some narratives". A rather passive aggressive phrase sometimes used to dismiss someone else's view that may be different to yours. 

I don’t mind other people’s opinions at all but you can’t tell me there isn’t some agendas and narratives in play. 

[CornwallRam]

7 minutes ago, LeedsCityRam said:

We agree on the need for Derby to be self sufficient & to end the days of big spending (not that it would be possible under the EFL agreed business plan in any case). I think folk are probably more concerned about Kirchner's very noticeable silence this week & the news Stateside about unpaid Slync.io wages & team sponsorship. That does not bode well for his future custodianship of DCFC, if that does end up happening.

I think you might be surprised about Quantuma this weekend - a combination of the increasingly terse EFL statements & finding themselves in the eye of a media storm will have shaken them. No one else to blame at this stage. I fully expect they will be fielding enquiries from interested parties this weekend even if any resolution/news wouldn't be announced until a week day

As to your final point, I don't know by what mechanism Kirchner could back out the deal & avoid contractual liability if he has exchanged contracts & apparently sent the money.

Derby County will never be self-sufficient until the financial gap between the Premier League and the EFL is closed, or we actually get promoted to the Premier League. 

Football is broken and it is beyond the scope of a single club to fix it. 

[FlyBritishMidland]

2 hours ago, Coconut's Beard said:

The 'work' they've done is to keep the club running on a day to day basis despite the business being left in such a state that.. well a state that it needed administrators called in!

Don't underestimate that job in itself. There's a reason Administrators fees are as high as they are, and there's a reason Administrators don't tend to be at the top of everyone's Christmas Card lists. It's not a job you do to make friends. 

If another interested party comes forward now they benefit from the 'work' that's been done. They know the amount of money they need, there's an agreed (provisional) structure for how and when that money will go to creditors, there's an EFL approved business plan that can be used as a template, any new candidate knows what the budgets are going to look like, what's acceptable to the EFL. 

With a bit of tweaking everything is already in place for someone to stump up the money CK was supposed to pay and the club is theirs.

 

Up until recently there's been no veritable evidence that CK had no chance of getting the deal over the line. He's surrounded by entirely reputable people who have backed him up every step of the way.

Proof of funds is proof of funds. I doubt the checks made on this by the admins are any different to the checks any other admin would make. 

It's simply a fact that he has or had the money somewhere. That it appears to have gone missing now is a separate matter and I'd agree with people saying that there should have been some sort of 'test run' perfomed much earlier to prove that the money would arrive. It still remains though that there was no legal, no formal reason for anyone involved in the process to think he couldn't pay up - cynicism from supporters doesn't cut it, feelings don't come into it - there needs to be firm evidence presented as a reason not to proceed. 

The crux of the second half if your post is "if you believe MA's representatives".

That'll be a firm no. There's no point discussing MA further at this point except to say if you believe the PR that's coming from the biggest game player of the lot, we'll that's your prerogative. 

If the administrators are in it purely to line their pockets and drag everything out intentionally, why did they even bother go to the EFL with a bidder and the cross claim cram down thing to get a PB in place for January?

I suppose you could accuse them if doing that for show, to make it look like they wanted this all over months ago... but then you're not just calling them incompetent you're literally accusing them of illegal activity. 

If that's the case it will all come out in the wash, but they've been convicted already by Derby fans. 

If their fees are 'crazy' surely someone can prove that they aren't simply in line with what anyone anyone else would charge for the job? Mike Ashley refusing to pay someone their due doesn't make it any less due. 

None of this is to say they haven't made some big mistakes, but some of the stuff that comes out of people's mouths about the administrators while they simultaneously wax verbal about other parties (with their own agenda) and swallow every PR fluff piece designed to make them look like some sort of victim in all of this is... I don't even have the words tbh. 

Totally agree.  Regarding their fees, yes they will cost a lot but they seem to be in right area.  The last set they published quoted £2.1M to get to the point of exiting administration.  I assume that be around now, late May early June as both they and CK quoted this once it was confirmed he was the PB.  That would be just over 8 months.  Wigan’s administration fees were just under £2.3M for the same time period.  And they didn’t have all the nonsense we’ve had with the spurious claims, ground issues, size of debt, etc.

Edited June 11, 2022 by FlyBritishMidland

[Ram-Alf]

2 minutes ago, CBRammette said:

Dont blame him. We have sky so will look that one up. 

It is 6 30min episodes concerning the dark side of Russia...an excellent watch imo?

[strawhillram]

1 minute ago, Curtains said:

I don’t mind other people’s opinions at all but you can’t tell me there isn’t some agendas and narratives in play. 

Those agendas and narratives don’t count for anything. Just opinions and speculation, which is fine.

[RipleyRich]

2 minutes ago, Ramos said:

I would suspect just cause it says written to - it doesn’t mean that’s all that’s happened. I assume there has to be a paper trail with these things so the official line to JP is we have now written to them. I think the fact journalists like Percy are starting to provide opinions on Q like (they should never be in football again) is probably finally the kind of pressure that may make them realise their game is up and they need to get this done for real. 

Probably written to them advising what they need to come up with to proceed and for an indication of if they are prepared to negotiate at that level?

No time to beat around the bush now.

[Elwood P Dowd]

15 minutes ago, Unlucky Alf said:

And here Ladies and Gentlemen is the $60k question, I could never understand why an American would want to buy DCFC, I've said this on several occasions on this thread, Who in their right mind want's to pi$$ millions down a drain, Pay off someone else's debt just to become a "Soccer Owner in England"...I just don't get it?‍♀️

The simple answer is Vanity,  look how many Rams followed Kirchner's twitter thread, some people just like the attention, until things go wrong.

I unable think of any real business\profit making opportunities as a "Soccer Owner in England" the only people to make money out of football are the players and their agents. 

Edited June 11, 2022 by Elwood P Dowd

[i-Ram]

27 minutes ago, Caerphilly Ram said:

 

So it got to 5 o’clock, and CK’s priority expired, and Q then contacted AA and MA who they had not responded to earlier in the week as CK retained priority. Cool stories Percy.

[Ramos]

4 minutes ago, Curtains said:

Well that doesn’t bode well does it .

I would prefer to say CK is trying his best under difficult circumstances.

Us fans will be the last to know what’s really going off at the moment.

We can only speculate 

Of course,  that is pure speculation and I guess my main point there is that I do not think anyone could be that naive or stupid.
 

It doesn’t take much research to know 20M plus for a league one club isn’t great business really in the grand scheme of what you could do with 20m.
 

It’s obviously a vanity project for CK like the dozens up on dozens of owners we have seen across the leagues coming from here there and everywhere. 

 

I was on board with CK but the fact he hasn’t tweeted once this whole week to even just confirm the money is transferring and tied up, has completely knocked my confidence in him. A lot has been said and his name has been dragged through the mud, I find it really odd IF he still thinks he can be successful why he hasn’t come out and defended himself? Plus IF the story about him not paying his own staffs wages are true, then i fear his stewardship would end back where we started. 
 

Through all of the noise though, I think we have to take who we get. 
 

 

 

[Curtains]

3 minutes ago, RipleyRich said:

Preferred bidder or not, a purchase will have to go through a similar process to CK I would assume.

Bid acceptable to Q, access granted to full accounts, bid confirmation, proposal to creditors, proposal to EFL, Fit & Proper Persons Test, Contracts drawn and exchanged, funds transferred etc.

Previously quoted as taking 6 to 12 weeks I believe?

Alongside that, the Stadium has to be sorted in whatever guise that will be with the bidder/s.

Time is critical now, and satisfying EFL re funding for the season is the most urgent issue to resolve as I see it.

I think this is right I’d say at least 6 weeks for a new deal to go through  if CK loses out .

Someone said we could start the season in administration which I would think is a likely scenario 

[Ram-Alf]

Just now, Elwood P Dowd said:

The simple answer is Vanity,  look how many Rams followed Kirchner twitter thread, some people just like the attention, until things go wrong.

I unable think of any real business\profit making opportunities as a "Soccer Owner in England" the only people to make money out of football are the players and their agents. 

I can't disagree with you Elwood, It's an opportunity to be seen and heard, Opens doors, Get to meet some people with connections, Adored by the home crowd...what could possibly go wrong ?

[i-Ram]

49 minutes ago, Woodypecker said:

...."written to the Ashley & Appleby groups...."

FFS, if they really want the club, why aren't they in full and factual face-to-face negotiation with Q, with their proposals, all bleddy weekend?

Sure, I know it can be an online conference etc., but Percy makes it sound like Q have popped off a casual email to the would-be bidders.

But then Percy chose to condemn Q for dismissing alleged attempts last week for others to liaise with them, which was inflammatory and sensational claptrap - Q would surely have been enforcing CK's exclusivity and adhering to NDA's?

Isn't it the case that all these frigging lawyers, CK/Stretford/Crooks & Co, Q's staff, the Team Derby MPs, and the banking & regulatory personnel involved, should have actually discovered and clarified *how or why* CK's funding (if it exists), is jammed in 'the system' somewhere, by now?

Somebody - FIND OUT!!

 

Edited June 11, 2022 by angieram

[Ram-Alf]

3 minutes ago, i-Ram said:

So it got to 5 o’clock, and CK’s priority expired, and Q then contacted AA and MA who they had not responded to earlier in the week as CK retained priority. Cool stories Percy.

For our sake I hope Q put a 1st class stamp on the envelope as it'll get there Tuesday/Wednesday all in good time?

[chezzyram]

2 hours ago, Topram said:

Imagine after all this it turns out he becomes our new owner Jesus 

At least that's one deal that could be easily resurrected 

[i-Ram]

Must be raining in Derby, but it’s lovely and sunny down here on the south coast. Catch-up again tomorrow on the speculation and counter-speculation, and made up Twatter that is mostly currently filling these pages.

@B4ev6is it will all be ok. Chill. It will all be resolved in the next week or two.

[Curtains]

2 minutes ago, Ramos said:

Of course,  that is pure speculation and I guess my main point there is that I do not think anyone could be that naive or stupid.
 

It doesn’t take much research to know 20M plus for a league one club isn’t great business really in the grand scheme of what you could do with 20m.
 

It’s obviously a vanity project for CK like the dozens up on dozens of owners we have seen across the leagues coming from here there and everywhere. 

 

I was on board with CK but the fact he hasn’t tweeted once this whole week to even just confirm the money is transferring and tied up, has completely knocked my confidence in him. A lot has been said and his name has been dragged through the mud, I find it really odd IF he still thinks he can be successful why he hasn’t come out and defended himself? Plus IF the story about him not paying his own staffs wages are true, then i fear his stewardship would end back where we started. 
 

Through all of the noise though, I think we have to take who we get. 
 

 

 

Good points .

I don’t think anyone is doing themselves any favors in this whole process .

CK going quiet is very strange .

We as fans have either been duped or at least some of us like myself have or it’s all under control.

I quite honestly can’t understand why MPs and others have been saying it’s all going through and now we have all this. 
 

[MaltRam]

Forget CK folks. The man's clearly all mouth.

The extended exclusivity period is over, so now it's back to Quantuma to react with their customary flair and decisiveness and bring in a back up plan, two of whom seem to be putting their hand up.

Surely this can't take more than 6-8 weeks now.

[Curtains]

1 minute ago, Needlesh said:

Forget CK folks. The man's clearly all mouth.

The extended exclusivity period is over, so now it's back to Quantuma to react with their customary flair and decisiveness and bring in a back up plan, two of whom seem to be putting their hand up.

Surely this can't take more than 6-8 weeks now.

Have we got 6-8 weeks !