The Administration Thread

[RadioactiveWaste]

N.B. Ashley's £28m as far as I know is what Ed Dawes said on RD he'd been told "Ashley has in an account ready to go" - he's been told that to give the impression his offer is £28m, we still do not know what offer he's actually put forward to Quantuma.

[Ramos]

Just now, PistoldPete said:

He mentioned getting undertakings from Morris. I would assume that is to do with the stadium.  

Is there another letter I missed? I don’t remember seeing that in the one I just read! (You may well be quoting another source) 

[Tyler Durden]

26 minutes ago, Carl Sagan said:

It's hard to keep up and worrying for people coming on here that there's nothing in the official updates thread since Thursday. Should tweets such as Ashley's solicitor letter expressing interest to buy the club not go into there so people can quickly get up to speed? Thanks.

 

Edit: in case the mods don't know what I'm talking about, I meant this one:

 

If I offered ten quid to buy the club then weirdly I would expect my offer to be rejected out of hand. 

I can see that Ashley is trying to exploit the situation which any other business person would try and do as well, it's upto Quantuma to shut Ashley up by completing the deal with Kirchener which is obviously more financially beneficial for the club but the longer they fail to do so then the louder Ashley's complaints will become.

Quantuma are the ones who aren't helping the situation not Ashley. 

[inter politics]

 

[Caerphilly Ram]

13 minutes ago, PistoldPete said:

He has said he doesn't want to be a contingency. But if he hasn't offered the best price that is why he is not the preferred bidder. He is probably not second or even third choice.

But we don’t know that’s definitely the case.

It could be the generally accepted narrative that MA didn’t bid enough, CK made a better offer and was selected as preferred bidder until the recent events derailed things a little.

It could also be the narrative that suggests MA is only willing to pay bottom dollar and so as yet hasn’t even offered a bid knowing things could get desperate and he would get a “bargain”.

There could also be the possibility that Q have indeed not engaged with MA as part of the process as has been speculated/reported upon by the media. Meaning even if MA did want to buy the club and was willing and able to pay the appropriate amounts he was denied the opportunity to do so.

All of the above scenarios (and there are others too) have plausibility and scepticism wrapped up in them. As has always been the case in this process, we don’t have the full facts, we don’t know what’s actually gone on behind the scenes.

I’m still holding onto hope that the club will survive in some form as there are still interested parties, this leaked document (assuming it’s genuine) at least confirms MA is still interested in buying the club. CK is also allegedly still in if his funds are released (based on what info is out there and doing my best not to speculate on if the funds exist at all). So there’s definitely 2 interested parties. Let’s hope we get to see evidence of the third and fourth rumoured interest and someone saves the club we all love ? 

[Oldben]

Q need a deal that at least matches Ck.

Ma didn't get close to that offer.

I'm wondering, will any offer get close.

If not then there has to be a justifiable reason for the creditors, as to why ck offer was invalid.

I think the offers need to be at least close to ck, why should the creditors accept the offer if that's not the case.

Q have one job, obtain the best offer for the creditors. 

Q doesn't have the job of pleasing the fans.

[Topram]

New Percy article up saying he wants exclusivity 

[GenBr]

8 minutes ago, CornwallRam said:

I disagree with you.

It has everything to do with the Premier League - every sizable club outside the Premier League is trying to get into it because the funding is so good and winning games is supposed to be the aim. Parachute payments instantly give several clubs an advantage in the Championship, so ambitious non-parachute clubs are forced to pay unsustainable wages to get a competitive squad. This inflationary trend then trickles down the table and even down the divisions. Unless they have a lucky windfall like selling a player for £20m, every Championship club makes a loss without parachute payments - and most of the latter still do. 

Clubs like Burton and Peterborough who try to run a sustainable wage bill in the division get relegated -  not always instantly, but within a couple of seasons.

20 blokes form the pub are not going to convince 20,000 supporters to part with £20+ a game. They are not going to sell enough pies or shirts to make the outsourced contracts work. They are also not going to get any prize money from cup runs or get Sky to cover their games. What would happen is that the clubs turnover would shrink to a tiny fraction of it's current level - we couldn't afford the facilities that we have - that is not sustainability.

What have Luton shown? They haven't been promoted and haven't yet published the accounts for last season. I seem to remember little Bournemouth being held up as a sustainable model - then it was revealed that the lost £38.3m

The problem with Mel Morris's regime was not that he put money - it was what he spent it on and the fact that he stopped putting money in.

Belief in sustainability in the Championship is delusional and goes against all evidence.

League 1 could be a little different for a club of Derby's size. Although our overheads are high, our turnover should be towards the top end of the division. With luck and brilliant management we could get promoted whilst breaking even, but that only propels us into the most unsustainable division in the world.

 

In your first sentence you disagree and then in your second paragraph you agree with me. As i said the premier league has nothing to do with being a sustainable club. Just because some owners want to gamble and spend big to get to the big time is irrelevant and it certainly doesnt mean Derby cant be sustainable. 

If it means bouncing between divisions then so be it. You keep citing examples of sustainable clubs and then stating its impossible to do. What you actually seem to be arguing is that you personally think its impossible to be sustainable and get promoted to the Prem. 

Yes the blokes from the pub was an exaggeration, but thanks for taking it literally. Derby has more than enough income to create a competitive squad in both the championship and league one. There is absolutely zero reason we should be losing tens of millions of pounds every year.

The problem with Mel Morris's regime was that he put way too much money in, didnt pay the bills, didnt follow the rules, didnt run us sustainably and breached ffp. He ran up bills we had no chance of paying back.

[Foreveram]

1 hour ago, RoyMac5 said:

Who buys the Tippex? ?

Q, but it will require an overnight stay and taxi fares on expenses.

[RoyMac5]

3 minutes ago, Topram said:

New Percy article up saying he wants exclusivity 

https://uk.sports.yahoo.com/news/exclusive-mike-ashley-ready-rescue-130937861.html

Just details the letter to Q really.

Edited June 11, 2022 by RoyMac5

[61GT]

2 minutes ago, Topram said:

New Percy article up saying he wants exclusivity 

Hi, just catching up after a few hours away.

Who does?

 

[LERam]

33 minutes ago, PistoldPete said:

So he has offered less than other bidders, possibly not enough for us even to keep our League status,  but still wants to be Preferred Bidder? 

Basically....

My bid isn't as high as the others but it is 100% safe, so go for me now and know it will be sorted or I'm out of here 

We shouldn't expect the owners to care as much as us but it shows his total non attachment to the club and fans. He isn't bothered if the club go under or not. 

Then again we had local boy and massive fan Mel so does that matter?

[Cam the Ram]

1 minute ago, Topram said:

New Percy article up saying he wants exclusivity 

That 100% definitely wouldn't turn into a 3-4 weeks long back and forth over admin fees and a new stadium arrangement before the deal inevitably falls through and we're back to where we started. ?

[61GT]

1 minute ago, 61GT said:

Hi, just catching up after a few hours away.

Who does?

 

Edit: ignore my question, just caught up.

[May Contain Nuts]

33 minutes ago, angieram said:

 That Sky are running this as a major news story is appalling journalism, imo, and if anyone wondered before why Quantuma were reluctant to engage with Ashley, they surely aren't now, if this is the way he does business. 

You would think that, but all of the evidence suggests the complete opposite. 

The smear campaign was already ridiculous, but now its gone into overdrive. 

The letter from MASH...

4.1bn turnover, could save DCFC for 0.35% of that , squabbling over paying 0.05% in either direction because he doesn't want to pay the admins something like 0.004% of the money and thinks they only deserve 0.003%

...doesn't even mention a proper offer just the usual 'interest' or approach. Same old bluster.

Apparently they should have been crawling on their hands and knees, begging him to take over. 

Cue the usual 'why should he pay more than its worth' posts. Maybe he shouldn't, I'm just putting the rough numbers in some sort of context. 

 

Edited June 11, 2022 by Coconut's Beard

[Caerphilly Ram]

Deleted

Edited June 11, 2022 by Caerphilly Ram

[RadioactiveWaste]

I find MA low balling the offer or making a lot of noise without actually laying down a figure acceptable more believable than MA being unfairly excluded from the process. Can't say that for sure though, obviously and given Q's apprent lack of, well, everything really, it's not impossible.

my perceptions at the moment are:

CK: nieve and where is the money? and why do this deal and not make payroll of your actual company employees?

MA: gamesmanship, low balling and a media offensive - but, he gets his deals done and has done for years.

AA: A sensible and conservative bid most likely, probably never front runner, probably won't get restarted in time v Ashley anyway. Could probably actually run the club.

Morgan: Ran Wolves so probably up to it. Unlucky Alf says it's him.

Gadsby: Not being mentioned, but could see him having some stake in a non-Ashley bid.

Q: not impressed. Not surprised the EFL aren't either. but it's easy to give them a kicking.

EFL: not impressed. But are seemingly reluctant to actually throw us out until they have to.

MM: get in the bin.

 

[Topram]

7 minutes ago, Cam the Ram said:

That 100% definitely wouldn't turn into a 3-4 weeks long back and forth over admin fees and a new stadium arrangement before the deal inevitably falls through and we're back to where we started. ?

Yeah he just wants that to knock price down 

[Gaspode]

4 minutes ago, Oldben said:

Q need a deal that at least matches CK…

Not strictly true - ideally they want a deal that matches as that makes their job simple and allows them to conclude the deal quickly (which would reduce the complaints about the way they’ve handled things) - ultimately if CK can’t do the deal he’s agreed then Q have to negotiate with the interested parties and decide what is best for the creditors even if it’s significantly less than CK was offering and doesn’t meet the EFL minimum payment to avoid a points deduction.

I’ve said on here before that I think CK was paying over the odds given the level of value that is currently left in the club, so the remaining parties may well be reluctant to meet the currently agreed price…..

[Ram-Alf]

28 minutes ago, Foreveram said:

And yet you can buy a football club from one of them within a few weeks ??‍♂️

Well technically the Russian put it into a trust, So the trust pulled the strings, But I see where you're at, The UK and English football is flooded with Russian money and has been in the past...you reap what you sow ?