The Administration Thread

[IslandExile]

Naive question that has probably been asked a few times previously....so apologies for that.

If and when Clowes completes the takeover of the club, what exactly does that mean? - that at that moment, the creditors are paid? that we are technically "out of Administration"? Or is there more "process" to come?

Thanks.

[duncanjwitham]

1 hour ago, Malty said:

Today could be the greatest … 

…. if it goes through I’ll be playing that classic smashing pumpkins song later!

??

You do know what that song's about, yeah? ?

[Sparkle]

7 minutes ago, LeedsRam1999 said:

A little concerned we can only sign 10. Hopefully at least 5 attacking players in there. 
 

does this mean a lot of players are going to re-sign? 

It didn’t say Exactly 10 though did it? - anyway a new name on there in Chester the ex Villa and Stoke centre half (another with a dodgy injury history) which again might indicate we are well sort in that department 

[LeedsRam1999]

1 minute ago, Sparkle said:

It didn’t say Exactly 10 though did it? - anyway a new name on there in Chester the ex Villa and Stoke centre half (another with a dodgy injury history) which again might indicate we are well sort in that department 

The article says under our business plan we can afford to buy 10. I assume this is implying we can only afford 10.

 

im happy with the Chester Signing (if it happens) but as you say, he has a pretty hit and miss history with injury.

I would be excited to see what Hourihane could bring if we sign a couple pacy wingers.

[Elwood P Dowd]

3 minutes ago, IslandExile said:

Naive question that has probably been asked a few times previously....so apologies for that.

If and when Clowes completes the takeover of the club, what exactly does that mean? - that at that moment, the creditors are paid? that we are technically "out of Administration"? Or is there more "process" to come?

Thanks.

When Clowes completes the takeover of the club, the club is his, within his agreement to buy the club there will be a commitment to pay the creditors as agreed.

[Elwood P Dowd]

Just heard it on the News

 

[Kuskus]

2 minutes ago, Elwood P Dowd said:

Just heard it on the News

 

Where was this?

[Nuwtfly]

15 minutes ago, Kathcairns said:

Does it really matter, he must have enough to keep us going for 2 years or he wouldnt have got exclusive bid. I for one am extremely grateful to him,MA wouldnt really care about the club, only the money side of it, and he has had months to come in with a bid that wouldnt give us minus 15 points.

I’m grateful as well! The guy should get his picture up on the front of Pride Park for what he’s done! (Maybe he can replace Wayne)

I can just see why people’s preference would have been for Mike Ashley, in the long term anyway. I also don’t think this assertion that his bid have meant a guaranteed points deductions holds much weight to it. 

[Elwood P Dowd]

6 minutes ago, Kuskus said:

Where was this?

On Smooth Radio, it said the deal to take over Derby County had been signed and they can now plan for their future. Who knows how reliable Smooth Radio news is but that's what it reported!!!!!!!  

Edited June 29, 2022 by Elwood P Dowd

[ram59]

9 minutes ago, Elwood P Dowd said:

On Smooth Radio, it said the deal to take over Derby County had been signed and they can now plan for their future. Who knows how reliable Smooth Radio news is but that's what it reported!!!!!!!  

Smooth radio is all 1980s stuff, they're refering to the Maxwell take over. ?

[IslandExile]

16 minutes ago, Elwood P Dowd said:

When Clowes completes the takeover of the club, the club is his, within his agreement to buy the club there will be a commitment to pay the creditors as agreed.

Thanks and when are we "out of administration"?

Do signings, contract extensions etc have to wait for that bridge to be crossed or will the - as always ever so helpful - EFL allow that to happen immediately?

[i-Ram]

On 24/12/2021 at 12:58, Boycie said:

Now the American’s withdrawn, nowt new there then, who will it be?

Gadsby

Sam Rush

Or someone new?

I'm going for someone new Ralph.

[Crewton]

1 minute ago, ram59 said:

Smooth radio is all 1980s stuff, they're refering to the Maxwell take over. ?

Did they say owt about moving the stadium to Ocean Drive? 

[Crewton]

2 minutes ago, IslandExile said:

Thanks and when are we "out of administration"?

Do signings, contract extensions etc have to wait for that bridge to be crossed or will the - as always ever so helpful - EFL allow that to happen immediately?

It's the Courts that sign off exit from administration - the EFL just have to sign off that we've done so in accordance with their rules. 

[Elwood P Dowd]

1 minute ago, ram59 said:

Smooth radio is all 1980s stuff, they're refering to the Maxwell take over. ?

If it was 1980s stuff my wife wouldn't be listening to it, she doesn't like modern pop music.? I have checked around and don't see it being reported anywhere else!!!! 

[RoyMac5]

Just now, Crewton said:

It's the Courts that sign off exit from administration - the EFL just have to sign off that we've done so in accordance with their rules. 

Have they got a Twitter account? 

[RadioactiveWaste]

1 minute ago, IslandExile said:

Thanks and when are we "out of administration"?

Do signings, contract extensions etc have to wait for that bridge to be crossed or will the - as always ever so helpful - EFL allow that to happen immediately?

Others on the forum probably know better than me, but I think it's when creditors are paid and Quantuma notify the authorities (court?) That the business is no longer in administration - that gets a rubber stamp and then administration is over. - I could be wrong on all that though.

I suspect however we can probably do things before then as long as the EFL let us (e.g. the EFL use discretion on the basis the takeover is going through)

[RoyMac5]

5 minutes ago, Elwood P Dowd said:

If it was 1980s stuff my wife wouldn't be listening to it, she doesn't like modern pop music.? I have checked around and don't see it being reported anywhere else!!!! 

Not saying it's so, but it has been known for 'media' to break a reporting embargo ie news sent out but embargoed until a certain time. But wtf it would be Smooooooth Radio? ? Nowt on SSN atm. ?

Edited June 29, 2022 by RoyMac5

[Brammie Steve]

1 hour ago, Crewton said:

Exactly. It's a target date, an objective. There may be consequences in missing it - players becoming frustrated and signing for others, a day's less preparation for the manager etc - but real deadlines are when all that you've worked for goes in the bin, or the loan shark nails you to a door, if you miss them. 

Chill, if you can folks. The takeover is going to be completed, if not today, then tomorrow. 

"Maybe not today, 

Maybe not tomorrow,

But soon, and for the rest of your life!"

Humphrey Bogart Casablanca

Edited June 29, 2022 by Brammie Steve

[RoyMac5]

More nearly news! ?

https://www.derbytelegraph.co.uk/sport/football/football-news/derby-county-takeover-latest-clowes-7111574

"On track for completion today

It is understood that the takeover of Derby County is on track to be completed today (Wednesday) - the date that was targeted by the parties involved.

On Tuesday, BBC Sport noted that they were "told earlier on Tuesday that the planned rescue bid by local businessman David Clowes is likely to go through on Wednesday as anticipated."

While the process so far has shown that nothing can be taken for granted, there are great hopes that today could finally be the day that the future of Derby County Football Club is saved."