The Administration Thread

[Curtains]

Just now, I know nuffin said:

Has he actually made a bid or just leaked it to BBC TV 

Why do that though it wouldn’t make any sense 

[Norman]

16 minutes ago, Topram said:

Trevor birch statement has made me the most worried I’ve been about liquidation, it’s like they know we are going bust and trying to cover their arses and make out like they tried but couldn’t, absolute horrible feeling

There's many bidders at the table - we aren't going into liquidation,  it just means that this could rumble on for some time. 

There is no point in checking this thread daily (I probs still will) as any major breakthrough is, in my opinion, at least a month away.

Edited June 19, 2022 by Norman

[Leeds Ram]

The rumours that we are taking out yet another loan to pay June's wages are so worrying. At this stage if that happens I don't think we will compete next season whether we go bust or not as I can't see how quantuma can provide proof that we can fulfill the season to the efl. It's such a shambles and any buyer is getting such a basket case only someone with sentiment towards the club would give us a viable deal. It does feel s bit like five minutes to midnight for us right now. 

[I know nuffin]

3 minutes ago, G STAR RAM said:

'His' loans (meaning his other companies) loans to the club are included within the £70m.

The £123m that people keep going on about IS NOT, I repeat IS NOT a creditor of The Derby County Football Club, so I am sorry but you are factually incorrect and the amounts are not comparable at all.

Wasn't the directors loan included in the creditors lust right at the beginning. Also when the press has it that CK was looking at other grounds the press said Morris would want all of his money back to force CK into getting pp stadium sorted 

[Leeds Ram]

2 minutes ago, Norman said:

There's many bidders at the table - we aren't going into liquidation,  it just means that this could rumble on for some time. 

There is no point in checking this thread daily (I probs still will) as any major breakthrough is, in my opinion, at least a month away.

There have been many bidders at the table since day 1 according to quantuma but they still haven't got a deal over the line. Look, if crypto boys  penny pinching deal was the best we could get then I am not holding out for the attractiveness of the others. 

[Ram a lamb a ding dong]

I fear the inevitable. 9 months on absolutely no closer to a resolution. I alone cannot believe how this whole mess has been managed from top to toe.

Everyone has to carry a portion of blame wrt the process. MM 100% for getting us in to this mess but Q, EFL, MM have made a digs dinner of things since Sept.

Imo Q now know they have completely ballsed up and are looking for the quickest roure out. All the time lost dealing with CK and racking up more debt during that time has knocked even more value off the club and bidders are rightly offering even less.

MM won't budge to lower his ask so we reach impasse. There will be a final deadline sometime around October and we will miss it and that will be that.

In the meantime the club will lose every match heavily as they won't be able to bring players in. Rooney will already have walked.

Grim grim grim

 

[PistoldPete]

13 hours ago, Elwood P Dowd said:

It’s seems clear from Trevor Birch’s letter that the EFL are trying to show its “public concern” for the situation at Derby whilst trying to put some distance between themselves and the Administrators.

its good to know that we can continue in Administration until March 2023 but in reality with the debt getting bigger each month if we don’t get another owner in place, very soon, we are going to be in serious trouble. 

We need a new owner as soon as possible I hope that once the bids are in and Q select the best deal for the creditors I hope we can move forward very quickly without any of the loosing bidders calling foul and running to the courts.

We cannot afford any delays to the completion of the new owners deal due to any outstanding legal action, we already have experience of that with our friend from Middlesbrough. 

 

 

 

We can stay in admin for as long as we like, but Birch is saying we need to show we will  get out of admin on or before March 2023, or presumably the implied threat is that EFL will expel us sooner rather than later.  How  are we supposed to do that (ie show , before start of season that we will  get out before March 2023) , unless someone buys us before start of season. SO really isn't the March 2023 date irrelevant?   

[Ramos]

3 minutes ago, Leeds Ram said:

The rumours that we are taking out yet another loan to pay June's wages are so worrying. At this stage if that happens I don't think we will compete next season whether we go bust or not as I can't see how quantuma can provide proof that we can fulfill the season to the efl. It's such a shambles and any buyer is getting such a basket case only someone with sentiment towards the club would give us a viable deal. It does feel s bit like five minutes to midnight for us right now. 

We will compete next season - I think we would have been kicked out by now if the EFL really thought we couldn’t. Q will secure funding from somewhere or confirm the bidder before the start of the season IMO - while there are a number of bidders at the table - we don’t have to worry about liquidation.
 

With multiple bidders the only way the process will be quicker is when someone sets a hard deadline that has to be met - ie if the EFL came out and said Q needs to accept a bid by xx date or we are gone not Q saying send your best bid by Wednesday at 2. All bidders are pushing this to the end now to get the cheapest deal. Not easy for us fans but it’s just how it will be. 

[AndyinLiverpool]

1 minute ago, Ram a lamb a ding dong said:

I fear the inevitable. 9 months on absolutely no closer to a resolution. I alone cannot believe how this whole mess has been managed from top to toe.

Everyone has to carry a portion of blame wrt the process. MM 100% for getting us in to this mess but Q, EFL, MM have made a digs dinner of things since Sept.

Imo Q now know they have completely ballsed up and are looking for the quickest roure out. All the time lost dealing with CK and racking up more debt during that time has knocked even more value off the club and bidders are rightly offering even less.

MM won't budge to lower his ask so we reach impasse. There will be a final deadline sometime around October and we will miss it and that will be that.

In the meantime the club will lose every match heavily as they won't be able to bring players in. Rooney will already have walked.

Grim grim grim

 

If it's inevitable, just embrace it. There's nothing anyone can do.

[Gaspode]

I'm now at the point where I don't want any more 'news'/rumours/supposed leaks - I just want a definitive statement saying a buyer is in place and that things are finally moving....

As for Birch/the EFL - clearly just a case of trying to put anyone other than themselves in the cross-hairs if it all goes tits-up. Why would anyone agree to share info with them when they leak like a sieve? - any confidential info passed to them will be on Nixon's twitter feed before the phone call has completed.....utterly detestable organisation. 

[G STAR RAM]

8 minutes ago, I know nuffin said:

Wasn't the directors loan included in the creditors lust right at the beginning. Also when the press has it that CK was looking at other grounds the press said Morris would want all of his money back to force CK into getting pp stadium sorted 

There is no directors loan in The Derby County Football Club Limited, that's not my opinion, thats a fact in black and white in the public domain. 

MM is owed money from Gellaw but that is not the responsibility of the football club.

[Black ('n' White) Sheep]

All these 'supposed' people interested in buying us... stop talking and one of you just open your bloody cheque books ffs!

[Jimbo Ram]

10 hours ago, minesahartington said:

And yet he still gives them more than anyone else will.

Not sure about that. Hopefully Appleby/Morgan joint bid will have outbid him…..Ashley is the last resort for me….

[Ram-Alf]

2 hours ago, RoyMac5 said:

They could make it part of the NDA's being signed. After all they'll have to pass EFL's Fit & Proper test and so on further down the line.

Do you know Roy...there's things in my life that really pi$$ me off, Hypocrisy and nepotism are just 2 things that fall into what the EFL are, An organisation that are themselves...NOT FIT AND PROPPER ? 

[Ram-Alf]

2 hours ago, PistoldPete said:

Exactly. Birch's reply says Q has told the EFL that they have responsibilities under GDPR. Why on Earth should EFL need to be told this? 

Posturing!

[Leeds Ram]

3 minutes ago, Ramos said:

We will compete next season - I think we would have been kicked out by now if the EFL really thought we couldn’t. Q will secure funding from somewhere or confirm the bidder before the start of the season IMO - while there are a number of bidders at the table - we don’t have to worry about liquidation.
 

With multiple bidders the only way the process will be quicker is when someone sets a hard deadline that has to be met - ie if the EFL came out and said Q needs to accept a bid by xx date or we are gone not Q saying send your best bid by Wednesday at 2. All bidders are pushing this to the end now to get the cheapest deal. Not easy for us fans but it’s just how it will be. 

Personally I think unless a deal is done quickly then we won't. There must be a limit to the club's credit line after already having what is it now 3 loans to make payments for wages and club costs and before we can compete as birch said we need to show how we fund ourselves for the entire season. I think unless a deal is done quickly then I can't really see how we do that given the current shenanigans. 

The process being so long is potentially leading to a slow death. I don't think liquidation will happen however bury had a buyer lined up and ready to go.. and we have supposedly had multiple buyers for the last 9 months. One is now suing the administrators and the others couldn't match crypto boys offer which was hardly attractive. I am no longer comforted by prospective buyers. 

[atherstoneram]

2 minutes ago, PistoldPete said:

We can stay in admin for as long as we like, but Birch is saying we need to show we will  get out of admin on or before March 2023, or presumably the implied threat is that EFL will expel us sooner rather than later.  How  are we supposed to do that (ie show , before start of season that we will  get out before March 2023) , unless someone buys us before start of season. SO really isn't the March 2023 date irrelevant?   

At this present time if true what Quantuma have stated regarding taking a loan out to pay Junes wages it gives the EFL more of a call that we cannot show proof that the upcoming season can be financed. Last season was different as we entered administration after the season had started and we went from month to month raising the funds, this season that won't be an option.

[Topram]

29 minutes ago, Curtains said:

The EFL are so awful in all this it’s ridiculous.

They have pontificated for so long and now they are trying to say they haven’t done anything wrong.  
 

I think Birch is a total .@&£

Exactly covering themselves so when this all goes t*ts up they’ll say they blocked us from helping etc… 

[EnigmaRam]

12 minutes ago, PistoldPete said:

We can stay in admin for as long as we like, but Birch is saying we need to show we will  get out of admin on or before March 2023, or presumably the implied threat is that EFL will expel us sooner rather than later.  How  are we supposed to do that (ie show , before start of season that we will  get out before March 2023) , unless someone buys us before start of season. SO really isn't the March 2023 date irrelevant?   

No, we can start the season in admin and remain in admin until March 2023. BUT, we have to show proof we can afford to finish the season, even if that’s cost neutral. How we do that and manage to scrape a team together is anyones guess though!!

[Loughborough Ram]

It's interesting to think about the MSD loans.

Assuming that they are being secured against the stadium then effectively it is actually Mel Morris who is providing these loans, therefore strengthening his bargaining position when it comes to the future of the club.

Do you trust him to do the right thing?