The Administration Thread

[cstand]

7 minutes ago, Mihangel said:

He also invested 0 (zero) in infrastructure - Academy, stadium etc - That would be a depressing vision.

If MA takes us over I think he would invest in the stadium but not the Academy.
His business empire now has 20% of Derbion shopping centre with all of these stores having major revamps. Pride Park could be used for business meetings, corporate events, training facilities.

Also he is semi-retiring with Shirebrook HQ not far away he can still keep an eye on his business empire whilst attending football matches at Pride Park so buying us would make sense but would he be allowed to buy the ground? 

 

 

[Eric the half a ram]

28 minutes ago, RoyMac5 said:

A couple of days ago when Dawes broke the 'collapse' story there was also talk about the end of Mays wages. Around then was when Nixon said CK had 'topped up' the money left in Q's account. I just found the amount of £1.6m a bit much then, but who knows.

Yeah he's done a 'quick loan' whatever that is and no it's not refundable.

Didn't the preferred bidder also have to put down a 5mill deposit that was non refundable? So surely he stands to lose 6.6mill if it all goes Pete Tong? ??

[Ram-Alf]

30 minutes ago, BobdeBilder said:

This whole mess comes down to one thing, succinctly put by that great character actor, Strother Martin, in Cool Hand Luke. "What we have here, is a failure to communicate".

"Shaking it here boss"

[CornwallRam]

59 minutes ago, Phuket Ram said:

Really??  I can’t think of any way that could possibly happen, for many reasons.

Players become free agents - the last time I checked. Unless the EFL are engaged in modern day slavery…

Where did you get this information from? 

How is it modern day slavery compared to a club owning player registrations?

It's rule 66.1 of the EFL regulations 2021-22

https://www.efl.com/contentassets/b3cd34c726c341ca9636610aa4503172/regulations-season-2021-22-final.pdf

[alram]

I certainly hope Kirchners "funds" dont clear. he should not be in the running.

throughout this process he is not only shown he is incompetent but also a complete coward. his silence has really rubbed me up the wrong way, if you seriously intend to still own the club - he should be saying so. you think people will just forget if it gets over the line?

ashley is letting the press do his talking, ck is communicating to nobody and appears like a sulking teenager. not old enough, not wise enough, not wealthy enough. should be moved on, but he wont be because he offers the best deal for the creditor and thats Q job.

Edited June 12, 2022 by alram

[AndyinLiverpool]

15 minutes ago, Stockport Ram said:

Nearly at the next great Landmark Page, 1946.

 

Thought I'd help it along a bit.....

I guess we should celebrate if it reaches 2023.

[alram]

mike ashley is the only long term option, we need to stop chasing results and short term goals. players and managers will come and go.

we want the owner that will put us in the best position long term and thats ashley. 

we own the stadium, pay less to the creditors (even if it means -15, the CLUB is saving money) and he is showing with this process that hes not going to waste a penny of the clubs money. that is what we need whether people realise it or not. 

[AndyinLiverpool]

2 minutes ago, alram said:

I certainly hope Kirchners "funds" dont clear. he should not be in the running.

throughout this process he is not only shown he is incompetent but also a complete coward. his silence has really rubbed me up the wrong way, if you seriously intend to still own the club - he should be saying so. you think people will just forget if it gets over the line?

ashley is letting the press do his talking, ck is communicating to nobody and appears like a sulking teenager. not old enough, not wise enough, not wealthy enough. should be moved on, but he wont be because he offers the best deal for the creditor and thats Q job.

Does he have your number? Perhaps he could call you personally.

[alram]

Just now, AndyinLiverpool said:

Does he have your number? Perhaps he could call you personally.

he doesnt appear to have anybodies number

[curb]

4 hours ago, CBX1985 said:

Hello everyone.  Nice to meet you all.  Found this forum a week or so ago, and in the circumstances have been reading frequently.

I do believe there is, perhaps understandably, a mismatch between business reality and fans wanting to "save our club".  Some of the business people involved also care deeply about football, and some this club; but business comes first and their backers are not going to want to "donate" monies beyond the relative value of the proposition.  

I work in financial services and investment.  I have previously worked at a global accountancy firm, where I for a while sat next to a company administrator - no, not Q - so have some familiarity with how these processes work in general terms. 

My analysis: is DCFC has VERY large debts.  DCFC has virtually no tangible assets.  Those we do have are players (if very few!).  On liquidation, unlike with other firms in most normal industries, those assets can leave for free on liquidation - so valueless to a liquidator.  We have considerable brand value (30k matchday attendees), all those here etc etc.  That brand value dies on liquidation, if EFL does not allow re-entry at L2.  Unlike with most businesses, the name cannot simply be sold as a way to pay creditors.

There is an old maxim: if I owe the bank £10,000, I have a problem; If I owe the bank a £1billion, the bank has a problem. That applies here.  On liquidation, the creditors get nothing.  Think about it, the players have no value and we don't own the ground.  We are left with paying £100m or whatever it is from old replica kits from the Superstore.

Ashley knows this, too.  As do all the buyers.  The reality is someone needs to be screwed here.  Liquidation screws everyone, but the admins need to extract as much as they can.  And so along strides a wonderful American who will generously pay a nice amount to said creditors for a L1 club.  No points deduction.  Keep Rooney.  40 new players.  He might as well throw Bale in to the mix as well, and consider putting a bit in for Messi.  It feels - not saying it is - a little too good to be true.  He is offering to be the one financially screwed for the greater good of everyone else.  And on cue the money doesn't turn up... makes you wonder.

What, in my opinion, this club has needed since January is to have the real crunch liquidation point - the club will liquidate on x date without x monies.  At the moment, creditors are thinking "I can get a 'good' deal from some naive mug" and are not considering the real haircut they are going to need to take to get some monies back, maybe 5 or 10p in the pound.  Once a potential vulture owner decides to accept the points deduction, why offer the creditors any less than a completely derisory offer (you get them to their lowest point before they refuse on principle)?  The points deduction will be the same.

This is Ashley's strategy (and probably everyone else bar CK).  He is planning to screw the creditors.  But this only works if you are prepared to hold out to the very very very last minute; and you can act fast to prevent the reapers axe actually coming down. 

The idea he will take CK's terms like-for-like is for the birds.      

 

 

 

 

  

 

 

 

Welcome to the forum.

There is one thing wrong with your post.

The EFL can sell the badge and name to someone after liquidation. They would hold the players registrations, which they will sell to other clubs on liquidation to pay off football debts.

This I believe is Ashley’s end game, to de-rail the administration process and pick up the pieces post liquidation.

The blame will all be on the administrators (he’s already started the propaganda process), and he’ll bypass having to pay HMRC and creditors anything. He’ll probably get tha stadium cheaper too, as no football team makes the stadium worthless.

[Foreveram]

6 minutes ago, alram said:

I certainly hope Kirchners "funds" dont clear. he should not be in the running.

throughout this process he is not only shown he is incompetent but also a complete coward. his silence has really rubbed me up the wrong way, if you seriously intend to still own the club - he should be saying so. you think people will just forget if it gets over the line?

ashley is letting the press do his talking, ck is communicating to nobody and appears like a sulking teenager. not old enough, not wise enough, not wealthy enough. should be moved on, but he wont be because he offers the best deal for the creditor and thats Q job.

Do you not read the daily updates.

[Jimbo Ram]

3 minutes ago, alram said:

mike ashley is the only long term option, we need to stop chasing results and short term goals. players and managers will come and go.

we want the owner that will put us in the best position long term and thats ashley. 

we own the stadium, pay less to the creditors (even if it means -15, the CLUB is saving money) and he is showing with this process that hes not going to waste a penny of the clubs money. that is what we need whether people realise it or not. 

MA interests will relate to MA only and not DCFC or the people and businesses the club owes money to.

[Tamworthram]

34 minutes ago, Carnero said:

It's probably Q's bank that is the problem knowing them ?

?

Quite possibly although, being a bit nosey, I took a look at the company accounts (2021) for the group Q are part of. By the time you get to about page 121, a large credit facility with HSBC is mentioned. You can’t get much more global than them.

[alram]

Just now, Foreveram said:

Do you not read the daily updates.

have i missed something, it's genuinely so hard to keep track you have to spend 10 hours a day just keeping up to date

[alram]

2 minutes ago, Jimbo Ram said:

MA interests will relate to MA only and not DCFC or the people and businesses the club owes money to.

you are right. but that is the case for all parties.

but MA is a safe pair of hands, and if he does well out of DCFC it means the club has done well which means we all win. if he takes over i can guarentee 100% we will not be in this same situation in 24 months time. with kirchner you cannot guarentee that because of his unreliability.

ashley is no angel but he is our best option by a country mile. there are no money concerns with him and he will get us in a strong position financially, it's exactly what we are desperate for.

Edited June 12, 2022 by alram

[Tamworthram]

38 minutes ago, CBRammette said:

No but European clearing has been mentioned somewhere so perhaps just did transfer US to Uk within same bank and he is already an account holder so less checks or something so just provenance of funds to be checked so quicker? Who the heck knows or can try and find reasons for anything Derby at this point! I am sure if one transaction in a million is chosen randomly for enhanced security/AML checks taking 6 years you can bet it would be that one. 

I think we’re running out of straws to clutch at. 

[Foreveram]

1 minute ago, alram said:

have i missed something, it's genuinely so hard to keep track you have to spend 10 hours a day just keeping up to date

Doh… that’s what the daily updates are for.? 

[Jimbo Ram]

1 minute ago, alram said:

you are right. but that is the case for all parties.

but MA is a safe pair of hands, and if he does well out of DCFC it means the club has done well which means we all win.

ashley is no angel but he is our best option by a country mile. there are no money concerns with him and he will get us in a strong position financially, it's exactly what we are desperate for.

So basically screw the creditors ?

[RoyMac5]

13 minutes ago, Eric the half a ram said:

Didn't the preferred bidder also have to put down a 5mill deposit that was non refundable? So surely he stands to lose 6.6mill if it all goes Pete Tong? ??

Nope, Q never stuck with that after getting no interested bidders when it was in place.

[Tamworthram]

16 minutes ago, cstand said:

If MA takes us over I think he would invest in the stadium but not the Academy.
His business empire now has 20% of Derbion shopping centre with all of these stores having major revamps. Pride Park could be used for business meetings, corporate events, training facilities.

Also he is semi-retiring with Shirebrook HQ not far away he can still keep an eye on his business empire whilst attending football matches at Pride Park so buying us would make sense but would he be allowed to buy the ground? 

 

 

I think PP is already well equipped for corporate events isn’t it? I’ve been there for at least one.