The Administration Thread

[Gee SCREAMER !!]

28 minutes ago, Oldben said:

With the clock ticking on derby exiting administration.

I hope that the new owner, has the sense to go with significant deals after the players the Club needs to get done immediately for new players.

I'd get into those discussions now and sign with a guaranteed contract at whatever price just to get them in the moment the deal goes through.

Example I'd agree with Morcambe immediately, that regardless of the cost, a deals done for 23 goal striker, Cole Stockton.

That won't be happening as the EFL will have us under a business plan on exiting admin and those creditors will have something in place, that should we suddenly sell a player for 5 million, they'll be wanting their debt paid down quicker within reason ie you can have 60% to keep the team at the agreed level of replacement for purposes of keeping it a certain standard - avoids defaults on another relegation- but we want the other 40%.  The combined result being we can't blow what will be a very average sized wad available on one player when we need 15.

Shame, but that's Mel leaving gift.

[CBX1985]

2 hours ago, Tyler Durden said:

Not sure how that works though....if he's contracted to x amount of pounds a week then that's a contractual obligation which his employer has to uphold?

Unless you are legally entitled to vary a persons contract when their employer is in administration?

There absolutely is (whether he could be seen as unsecured, is the question).

I suspect Rooney also loves the club.  He was probably told the situation.  He probably didn't fancy league 1 too much.  Quid pro quo.

[CBX1985]

14 minutes ago, alexxxxx said:

It's been reported that Kirchner's Slync.io still hasn't paid he US-based employees..

Along with the sale of the jet, no tweets for 3 weeks....

Questions should be asked how he got to be preferred bidder...

 

Lots of Bank Holidays going on in America.  CK will be turning up with bundles of cash to his employees soon.

 

https://www.freightwaves.com/news/slyncio-blames-liquidity-issues-after-employees-go-month-without-pay

 

I'm sure he was totally legit and in no way an AML risk.

Edited June 26, 2022 by CBX1985

[Guest]

7 minutes ago, alexxxxx said:

It's been reported that Kirchner's Slync.io still hasn't paid he US-based employees..

Along with the sale of the jet, no tweets for 3 weeks....

Questions should be asked how he got to be preferred bidder...

 

I don't really want to ask any questions about Chris Kirchner. He wasted a lot of our time but he's history now and we've gained an owner who in my opinion is infinitely better. I'd be content to never hear of Kirchner again. We heard too much from him as it is.

Tonight it's a very happy time to be a Derby fan. Time to look forward and not back and enjoy the fact that after a worrying nine months our club has been saved

COYR.

[kevinhectoring]

2 minutes ago, Hanny said:

Kevin. Sometimes I greatly agree with your assessment on situations, and other times I shake my head in wondering how you came to a conclusion. 
 

So, this one is a head scratcher, because I’m not sure if I am just misunderstanding you.  Did I miss a statement? Where in any of the reporting has it been indicated that Clowes ‘doesn’t really want the club’? 
 

I hope you aren’t referring to the comment that he is looking for more investing. As that is not indicating that:

A. He doesn’t want the club.
B. Can’t afford the club. 

What it is indicating: 

He wanted to buy the club. And is happy to take on more investment in order to: 

A. Get more funds into the club.

B. Reduce risk on a high risk asset. 

Read the Clowes statement of last week. It’s indicated he bought the club not out of a desire it own it, but a desire to ensure it does not go into liquidation

“With a deadline looming and the start of next season getting closer, we had to do something” 

There were other, similar comments

Of course that may have been intended to put us off the scent, he may have been planning this for ages. But if so, wouldn’t he have been more aggressive in getting PB status?  Seems to me that what we actually saw was a hiatus which invited Big Mike and Little Andy to make their bafo 

[Guest]

8 minutes ago, kevinhectoring said:

Seems to me that what we actually saw was a hiatus which invited Big Mike and Little Andy to make their bafo 

So you think that DC is not amenable to working with Andy Appleby?

[curb]

5 minutes ago, Brailsford Ram said:

So you think that DC is not amenable to working with Andy Appleby?

What would Appleby’s role be if not owner?

He was never a CEO himself, he had Glick then Rush to do all the day to day stuff.

[Comrade 86]

8 minutes ago, kevinhectoring said:

Read the Clowes statement of last week. It’s indicated he bought the club not out of a desire it own it, but a desire to ensure it does not go into liquidation

“With a deadline looming and the start of next season getting closer, we had to do something” 

There were other, similar comments

Of course that may have been intended to put us off the scent, he may have been planning this for ages. But if so, wouldn’t he have been more aggressive in getting PB status?  Seems to me that what we actually saw was a hiatus which invited Big Mike and Little Andy to make their bafo 

So he's trying to instigate a BAFO from Ashley by buying the stadium that Ashley is adamant he wants as part of the deal? And even were this the case, is it a given that with Ashley having tried and failed to lowball Morris on PP, that DC would be happy to accept a £2 to £3 million hit on his newly acquired asset simply to allow a man with 10 times his net worth to get it on the cheap?

And how could he have been more aggressive in getting PB status when exclusivity sat with Kirchner? Seems to me he's been aggressive enough since that exclusivity was rescinded. I think the question you've obviously overlooked is clearly why has Ashley not been more aggressive?

[PistoldPete]

18 minutes ago, kevinhectoring said:

Read the Clowes statement of last week. It’s indicated he bought the club not out of a desire it own it, but a desire to ensure it does not go into liquidation

“With a deadline looming and the start of next season getting closer, we had to do something” 

There were other, similar comments

Of course that may have been intended to put us off the scent, he may have been planning this for ages. But if so, wouldn’t he have been more aggressive in getting PB status?  Seems to me that what we actually saw was a hiatus which invited Big Mike and Little Andy to make their bafo 

I think he is a busy man.. a heavy programme of building and regeneration projects  ongoing.  He may not have time to be involved in the running of DCFC so may need a partner to help him do that. How that partnership plays out is possibly still to be decided. Not the same as saying he doesn't want to own it. 

[Guest]

Just now, curb said:

What would Appleby’s role be if not owner?

He was never a CEO himself, he had Glick then Rush to do all the day to day stuff.

He was the front man for GSE and chairman of the club while they were the owners. He employed Tom Glick and then Sam Rush. They carried out his directions. GSE fronted a consortium of investors. Appleby still carries out that function for General Sports Worldwide as the group is now known. If David Clowes is seeking a consortium to support him in him taking over the club do you not think that he might wish to make use of Appleby's capabilities?

I do.

[Archied]

4 hours ago, NC--RAM said:

Now THAT'S the 60th birthday pressie i've been waiting for.!!!!!!

My 61st birthday too

[Curtains]

2 minutes ago, Archied said:

My 61st birthday too

My 70th on 6th July 

 

[Ambitious]

48 minutes ago, Hanny said:

Kevin. Sometimes I greatly agree with your assessment on situations, and other times I shake my head in wondering how you came to a conclusion. 
 

So, this one is a head scratcher, because I’m not sure if I am just misunderstanding you.  Did I miss a statement? Where in any of the reporting has it been indicated that Clowes ‘doesn’t really want the club’? 
 

I hope you aren’t referring to the comment that he is looking for more investing. As that is not indicating that:

A. He doesn’t want the club.
B. Can’t afford the club. 

What it is indicating: 

He wanted to buy the club. And is happy to take on more investment in order to: 

A. Get more funds into the club.

B. Reduce risk on a high risk asset. 

People who know him personally have mentioned that he has always said he had no interest in becoming owner, which makes sense, but he had the means and could see the club potentially going into a season without a fighting chance. I think he will get someone in to run the club, he’s fully engaged with his day job, he just hasn’t got the time or the know-how.

[curb]

4 minutes ago, Brailsford Ram said:

He was the front man for GSE and chairman of the club while they were the owners. He employed Tom Glick and then Sam Rush. They carried out his directions. GSE fronted a consortium of investors. Appleby still carries out that function for General Sports Worldwide as the group is now known. If David Clowes is seeking a consortium to support him in him taking over the club do you not think that he might wish to make use of Appleby's capabilities?

I do.

I don’t ?

(see the point, wouldn’t Clowes just employ a Glick or Rush himself, and why would Appleby bring his investors in if he’s not the owner?

To me it just adds another layer of complication)

[derby8]

The last bloke I heard saying he didn't really want the job but didn't want some idiot coming in and messing up was Bob Paisley at Liverpool 1974, he didn't do too badly?

[Guest]

1 minute ago, curb said:

I don’t ?

(see the point, wouldn’t Clowes just employ a Glick or Rush himself, and why would Appleby bring his investors in if he’s not the owner?

To me it just adds another layer of complication)

If he has investors at hand to bring in, it saves David Clowes going to look for them. If you read my earlier posts you will see I believe that Appleby (and Sam Rush) have been assisting DC's takeover of the club. I hope that does not add another layer of complication for you. If it does, I simply have to take a step back because I can't explain it any clearer. If so, I'm sorry about that.

[Hanny]

44 minutes ago, kevinhectoring said:

Read the Clowes statement of last week. It’s indicated he bought the club not out of a desire it own it, but a desire to ensure it does not go into liquidation

“With a deadline looming and the start of next season getting closer, we had to do something” 

There were other, similar comments

Of course that may have been intended to put us off the scent, he may have been planning this for ages. But if so, wouldn’t he have been more aggressive in getting PB status?  Seems to me that what we actually saw was a hiatus which invited Big Mike and Little Andy to make their bafo 

I suppose I can see your point IF, the reading of the words “we had to do something” implies he didn’t want to, but felt compelled. 
 

But, as always, their are likely many shades of grey to the moving parts on this deal. 
 

I read his comments, and his actions as being: I want to own Derby County (for the sake of ensuring the club is under steady guidance, and progresssing ahead, BUT I’m (DC) no fool. Owning a football club is a tough, mad business. So I’d like to get some other investors in here to soften the risk. And I’d like to get someone else to actually run the operations of it. 
 

I guess I see Clowes as wanting to be able to have a final say on direction, but not have to actually run the club. Which is pretty logical, and makes sense to me.  And to me, says he does want to own the club…just not run it. 

So, in the many shades of grey in this deal…we are likely both (kind of) correct. ? 

[sage]

17 minutes ago, Curtains said:

My 70th on 6th July 

 

You don't look 70 @Curtains 

I imagine anyone who has spent a lot of time with you does though ?

[atherstoneram]

8 hours ago, Sparkle said:

That’s pretty much the accepted trend - whilst none of it is written down in EFL rules/guidelines that are available for all to see. 

Clearly set out in the EFL rules for clubs exiting administration.

[kevinhectoring]

7 minutes ago, Brailsford Ram said:

So you think that DC is not amenable to working with Andy Appleby?

not what I said. But you raise an interesting point

Some posters say DC will want very quickly to ‘syndicate the equity’ ie to reduce his exposure by finding co-investors to sell down to after he has bought 100%
 

Maybe, but that wouldn’t be my hunch, because he knows we need stability. And as he’s studied the figures he will have seen that with our fan base L1 is not likely to be an expensive option - he can afford it.  And he will also know from his property experience that a consortium is often an unwieldy beast
 

There’s another point. Appleby has been flicking through his rolodex trying to put a consortium together (having had one in place in January). He’s not raised enough this time to make a strong bid and there’s talk he doesn’t have enough cash. This suggests that if DC does a deal with him, he might be jumping into bed with a hodge podge of moderately wealthy Americans who could be very high maintenance investors. Not a recipe for strong governance or a quiet life. 
 

So I’d think that if DC does buy the club, he will probably in time sell all and not just part of his shareholding; and I’d think it’ll most likely happen after we have been promoted. 
 

What’s your take? The above is about 60% guesswork btw and may be very wide of the mark. Nothing wrong with speculating on a forum