The Administration Thread

[Gee SCREAMER !!]

1 hour ago, Brailsford Ram said:

Ownership or partnership? The League of Gentlemen was a partnership and it wasn't very complicated. It rescued us very successfully from the Three Amigos, two of whom went to prison together with their solicitor and financial director ?

It was successful, unexpectedly quickly.  Problem actually came when we got promoted and we had to pay the Co-op the outstanding debt we owed them -which had been budgeted for- but two of the group wanted their  stake coming out . Around 8-9 million combined if memory serves on top of the Co op payment.  The two things together meant the 14 million that was paid to the bank and the chunk taken back early left us with Eddie Lewis and Kenny Miller as our go to guys. If part of a consortium gets itchy fee, it can be an issue. Basically the cash was gone before we started.  

At the same time having one person in charge with no one else to reign it in can cause issues as we recently found out.

Edited June 26, 2022 by Gee SCREAMER !!

[Ambitious]

17 minutes ago, atherstoneram said:

Because the EFL don't want another "Leicester" to happen.

That's why the -12 point deduction was brought in. My point is about no continuing to punish clubs for former owners actions. 

Plenty of ways it can be done, but it would need to be ripped up and written again. A lot of considerations need to be viewed, including the welfare of the players. Creditors to football clubs could, and should, probably get a better deal out of it too. 

I think a lot will be learned from our administration, just like there was from the Leicester incident. 

[Guest]

1 hour ago, kevinhectoring said:

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
 

What you fail to understand about David Clowes is his method of operation. If you look at the structure of Clowes Development, he delegates downwards to experts who he entrusts to make decisions for him in their particular fields. There are insufficient hours in his day for him to make all of those decisions for himself. A prime example of this successful approach is Bill Gates and many other super-rich people who have built vast empires which are more powerful now than many sovereign states.

Because of his success, I would expect him to continue that approach to the ownership of DCFC and also to spread his risk in the precarious field of football club ownership where he has no previous experience. An overwhelming part of Mel Morris' failures was an egotistical inability to delegate and a false and delusional assumption that he knew football when in reality he knew SFA about the game nor how the business side should be run.

That is why a consortium is probably attractive to DC and contrary to your opinion, a consortium or partnership is not 'an unwieldy beast' if it is effectively controlled from the top of the organisation.

If he gets that right, we have total stability. His thirst for stability of his favourite football club is probably what has driven him to go so far in the first place.

I am thankful for he has done, have no wish to advise him and I wish him total success. In my opinion, you should trust him with the same wholehearted sentiments.

[Guest]

26 minutes ago, kevinhectoring said:

Clowes has complete control absolutely right. But if someone comes in with a better deal and if you’re  in the large camp of people who think Clowes is ambivalent about ownership, sure he might step aside. I mention it because it’s still a possibility. A slim one 

WALOB

[Guest]

21 minutes ago, kevinhectoring said:

I’m not itk so have no inside view on what’s likely to happen. I also completely understand if Clowes says - this is the family silver, I need to derisk.

But for me a consortium is a weak ownership model and I’ll be disappointed if we end up in the position where decision making is stymied by lengthy clauses in shareholders agreement. 

GSE's ownership was a consortium of investors fronted by Andy Appleby and it was far stronger than Mel Morris' dictatorship as was the League of Gentlemen.

[Guest]

27 minutes ago, Gee SCREAMER !! said:

It was successful, unexpectedly quickly.  Problem actually came when we got promoted and we had to pay the Co-op the outstanding debt we owed them -which had been budgeted for- but two of the group wanted their  stake coming out . Around 8-9 million combined if memory serves on top of the Co op payment.  The two things together meant the 14 million that was paid to the bank and the chunk taken back early left us with Eddie Lewis and Kenny Miller as our go to guys. If part of a consortium gets itchy fee, it can be an issue. Basically the cash was gone before we started.  

At the same time having one person in charge with no one else to reign it in can cause issues as we recently found out.

I agree wholeheartedly with the imperfections you have identified within the LoG but my point was that they were better than and rescued us from the clutches of the Three Amigos. They were much better than Jeremy Keith et al. In much the same way, I look forward to DC turning around our demise under Mel Morris but it seems he wishes to do that alongside partners or a consortium.

[B4ev6is]

5 hours ago, Boycie said:

Hmm, going on holiday with Colleen or working at the circus?

?

Rooney should said were staying at derby

 

[B4ev6is]

39 minutes ago, Ambitious said:

That's why the -12 point deduction was brought in. My point is about no continuing to punish clubs for former owners actions. 

Plenty of ways it can be done, but it would need to be ripped up and written again. A lot of considerations need to be viewed, including the welfare of the players. Creditors to football clubs could, and should, probably get a better deal out of it too. 

I think a lot will be learned from our administration, just like there was from the Leicester incident. 

They wont be anymore points ducetions now mate.

[Gee SCREAMER !!]

57 minutes ago, Brailsford Ram said:

I agree wholeheartedly with the imperfections you have identified within the LoG but my point was that they were better than and rescued us from the clutches of the Three Amigos. They were much better than Jeremy Keith et al. In much the same way, I look forward to DC turning around our demise under Mel Morris but it seems he wishes to do that alongside partners or a consortium.

Gadsby, alongside a fan who was some kind of investigator, pretty much saved the club at that time.  Was pretty sure one of the investors who couldn't wait to get out was Morris .  Thought he may just be haunting my imagination but sure enough he was part of it . 

Peter Gadsby (Chairman)

Mike Horton (Managing Director)

Jill Marples (Company Secretary)

John Kirkland OBE

Mel Morris

Don Amott

In addition, Peter Marples becomes an Associate Director (non-executive)

[Mick Harford]

Yeah, was my dad that investigated, not at behest of Peter but was actually employed by Lionel to find out what had gone on with the takeover.

 

 

[Gee SCREAMER !!]

In theory, with the average wage in League 1 at 1700-2500 a week, we should be able to bring in 10  very good players at that level who would fancy plying their trade at an above average crowd for Lawrences wages. Keep Davies, Stearman, Bird, Cashin, sibley on top and we would be more than fine.  Bielik, Byrne, Buchanan, Knight won't be here.  Wage lose and sale price will be needed.  Byrne and Buchanan won't get out of their contracts but the initiation to do so was always the point and we'll release them for sod all to get shot, so they'll get their moves for a nominal fee probably with tie ins.  Get that ball rolling 

[Guest]

53 minutes ago, Mick Harford said:

Yeah, was my dad that investigated, not at behest of Peter but was actually employed by Lionel to find out what had gone on with the takeover.

 

 

I think you are talking here about when Lionel lost the club in October 2003 after the Co-op Bank put it into administration and sold it to the Three Amigos for £3 in October 2003 without Lionel knowing. Peter Gadsby didn't take over until 2006 and Lionel died about three months later.

[Guest]

1 hour ago, Gee SCREAMER !! said:

Gadsby, alongside a fan who was some kind of investigator, pretty much saved the club at that time.  Was pretty sure one of the investors who couldn't wait to get out was Morris .  Thought he may just be haunting my imagination but sure enough he was part of it . 

Peter Gadsby (Chairman)

Mike Horton (Managing Director)

Jill Marples (Company Secretary)

John Kirkland OBE

Mel Morris

Don Amott

In addition, Peter Marples becomes an Associate Director (non-executive)

Mike Horton may well have been the other director who wanted out at the time because he'd had an absolute bellyful of Billy Davies when Mike was doubling up as the CEO.

[Mucker1884]

6 hours ago, Brailsford Ram said:

WALOB

"We're all Leeds or Bradford"?  

Edited June 27, 2022 by Mucker1884

[GboroRam]

Local property developer David Clowes has had his bid to buy Derby County accepted and hopes to complete the purchase on Wednesday.

https://www.bbc.co.uk/sport/football/61944731

Oh goodo. Another 48 hours to go. 

[G STAR RAM]

21 hours ago, Crewton said:

One interesting point from Northcroft's article in the Times - he says that, when he became permanent manager, Rooney "ripped up" his playing contract "losing millions in doing so", which suggests that he accepted a more modest manager's salary. 

Cant be right, saw on Facebook that he was still on £90,000 a minute and that is why Derby nearly went bust, only for the next post to say that 32Red pay his wages and thats just another example of DCFC cheating.

[Comrade 86]

1 hour ago, Mucker1884 said:

"We're all Leeds or Bradford"?  

Whales are lazy, obese barstewards

[FlyBritishMidland]

Have I missed something about DC being reluctant and wanting more people in with him?  OK, buying a football club may not have been in his plans for 2022, but he seems like a pretty smart man and, regardless of his emotional attachment, I doubt he’d do it if he didn’t really want to.  As part of the EFL tests I’m sure a new owner has to prove they can fund the club for a minimum of 2 years so that must already be in place.

Personally, I really hope we can get back a more sustainable or common sense way of running the club.  No more massive fees or long contracts with high wages.  If it takes a few seasons to get back to the Championship that’s fine.  We need to remember, and not just now but as we go through the season, we are pretty much at rock bottom.  Fingers crossed we’re out of administration this week, lost the manager, threadbare squad without a recognised goalkeeper.  2022/23 is about laying the foundations for future seasons.

[Anag Ram]

1 minute ago, FlyBritishMidland said:

Have I missed something about DC being reluctant and wanting more people in with him?  OK, buying a football club may not have been in his plans for 2022, but he seems like a pretty smart man and, regardless of his emotional attachment, I doubt he’d do it if he didn’t really want to.  As part of the EFL tests I’m sure a new owner has to prove they can fund the club for a minimum of 2 years so that must already be in place.

Personally, I really hope we can get back a more sustainable or common sense way of running the club.  No more massive fees or long contracts with high wages.  If it takes a few seasons to get back to the Championship that’s fine.  We need to remember, and not just now but as we go through the season, we are pretty much at rock bottom.  Fingers crossed we’re out of administration this week, lost the manager, threadbare squad without a recognised goalkeeper.  2022/23 is about laying the foundations for future seasons.

Drop back goalies today?

[Ram-Alf]

8 hours ago, Brailsford Ram said:

WALOB

What's an Australia Marsupial to do with owt ?