The Administration Thread

[DarkFruitsRam7]

3 minutes ago, Caerphilly Ram said:

Simon Jordan saying on TalkSPORT now that Admins have misread the room, approach now is to get in a room with Gibson and work out what he wants. Says it’s not as high as £40m based on conversations he’s had (with Gibson?) and that figure came from elsewhere, also saying the issue is born from player acquisitions relating to our amortisation, we signed players he wanted essentially. Seems like Derby fans are bombarding TalkSPORT with messages this morning, Jordan saying the only solution is to pay Gibson something and that Morris might need to come back to the party to help. 
Sort of slating Morris and the admin. Can’t keep up to summarise it all, worth people listening to if and when it gets put online later. He’s not saying everything we want to hear of course but good to hear more national coverage and discussion.

I will feel utterly sickened if the only way of getting out of this mess is giving Gibson what he wants.

[Dai Capp]

What all this activity is telling me is that since Friday the fans, the players and manager, MPs of both sides, local authorities, local businesses and now Curtis on Talksport have taken the fight on and shifted momentum. You don't have to spend long on social media to see the narrative has changed.

Now it's time for Quantuma to join the cause and show some fight for the club and if they don't we can presumably bring the same pressure to their door

[Woodley Ram]

1 minute ago, RoyMac5 said:

Is it?

You said their case was in arbitration. That says it relates to a case that started in arbitration. It was thrown out?

"Middlesbrough FC commenced its claims against the Club over 12 months ago in arbitration proceedings, the framework for which is set out in EFL Regulations. The EFL is not a party to those proceedings and nor does it have a role in determining the outcome of them. As the arbitration proceedings are private and confidential, we are unable to provide any further detail."

Whilst I am not certain what the EFL made. They haven't mentioned ongoing arbitration anywhere? 

It dosnt say it was thrown out, if it was I stand corrected. It reads to me that it is ongoing from the copied message. I hope is has been kicked out as that was strengthen our case

[RoyMac5]

4 minutes ago, Caerphilly Ram said:

Simon Jordan saying on TalkSPORT now that Admins have misread the room, approach now is to get in a room with Gibson and work out what he wants. Says it’s not as high as £40m based on conversations he’s had (with Gibson?) and that figure came from elsewhere, also saying the issue is born from player acquisitions relating to our amortisation, we signed players he wanted essentially. Seems like Derby fans are bombarding TalkSPORT with messages this morning, Jordan saying the only solution is to pay Gibson something and that Morris might need to come back to the party to help. 
Sort of slating Morris and the admin. Can’t keep up to summarise it all, worth people listening to if and when it gets put online later. He’s not saying everything we want to hear of course but good to hear more national coverage and discussion.

 

 

Simon Jordan knows less about this than most, he's just filling air-time.

This is pertinent:

"The current situation remains challenging as Middlesbrough and Wycombe Wanderers consider their claims should be protected under the terms of the Insolvency Policy. The Administrators disagree. Further, as those claims are not yet determined the Administrators and bidders have no clarity on the size of any (if any) liability. That has implications for exiting administration, and ultimately the Club being able to retain its membership status. 

We are aware that Derby County consider the claims to be spurious, but despite this, the current bidders appear unwilling to assume the risk of defending them.  In contrast, Middlesbrough FC and Wycombe Wanderers consider the claims to have merit, and that their rights will be adversely affected if Derby County can extinguish or compromise the claims using the insolvency process."

 

If their claims are protected under the terms of the Insolvency Policy does that mean 'football creditors' - nowhere have the EFL talked about this.

The Admin disagree because if they allow their claim we'd potentially be liable for all of it if they were 'football creditors'. 

How else could their claims be viewed according to Insolvency Policy - which I presume is the EFL regs not the law?

[nottingram]

4 minutes ago, Woodley Ram said:

They are on about Waghorn 

Gibson can give us the £5m fee and £3m wages we paid him before his release then because we certainly didn’t get value 

I assume his rabble were in for him when he was available on a free and presumably much reduced wages this summer as well?

[swanny]

6 minutes ago, nottingram said:

Gibson can give us the £5m fee and £3m wages we paid him before his release then because we certainly didn’t get value 

£166,666 per goal. Great value. 

[Sparkle]

18 minutes ago, Caerphilly Ram said:

Simon Jordan saying on TalkSPORT now that Admins have misread the room, approach now is to get in a room with Gibson and work out what he wants. Says it’s not as high as £40m based on conversations he’s had (with Gibson?) and that figure came from elsewhere, also saying the issue is born from player acquisitions relating to our amortisation, we signed players he wanted essentially. Seems like Derby fans are bombarding TalkSPORT with messages this morning, Jordan saying the only solution is to pay Gibson something and that Morris might need to come back to the party to help. 
Sort of slating Morris and the admin. Can’t keep up to summarise it all, worth people listening to if and when it gets put online later. He’s not saying everything we want to hear of course but good to hear more national coverage and discussion.

 

 

Can’t stomach that - prefer to be liquidated than pay extortion money.

[Gritstone Tup]

16 minutes ago, RoyMac5 said:

Simon Jordan knows less about this than most, he's just filling air-time.

This is pertinent:

"The current situation remains challenging as Middlesbrough and Wycombe Wanderers consider their claims should be protected under the terms of the Insolvency Policy. The Administrators disagree. Further, as those claims are not yet determined the Administrators and bidders have no clarity on the size of any (if any) liability. That has implications for exiting administration, and ultimately the Club being able to retain its membership status. 

We are aware that Derby County consider the claims to be spurious, but despite this, the current bidders appear unwilling to assume the risk of defending them.  In contrast, Middlesbrough FC and Wycombe Wanderers consider the claims to have merit, and that their rights will be adversely affected if Derby County can extinguish or compromise the claims using the insolvency process."

 

If their claims are protected under the terms of the Insolvency Policy does that mean 'football creditors' - nowhere have the EFL talked about this.

The Admin disagree because if they allow their claim we'd potentially be liable for all of it if they were 'football creditors'. 

How else could their claims be viewed according to Insolvency Policy - which I presume is the EFL regs not the law?

It just needs someone to meet Gibson in court and it gets thrown out. Mel Morris should have done this and a proper bidder would also do this.

[hintonsboots]

I wouldn’t trust Jordan to run a car boot sale. Ron Noades had his pants down at Palace.

[Woodley Ram]

20 minutes ago, nottingram said:

Gibson can give us the £5m fee and £3m wages we paid him before his release then because we certainly didn’t get value 

I assume his rabble were in for him when he was available on a free and presumably much reduced wages this summer as well?

They were, I think we offered more hence his problem. We offered more that took us outside FFP, where as they offered an amount inside. If they had offered the same they might have gone over their limit. 
 

Personally I don’t think you can do it that way as I think we actually made a trading profit that year.

[ptt1]

Here’s a solution.

Derby county football club limited accept that under the previous owners directors and in agreement with the previous auditors they applied an amortisation policy that whilst being in a format acceptable to accounting standards was outside of the understanding of the EFL and teams there in. Quantum accept that this was a moral misjudgement and deferred potential write downs on players to later in the term of their contracts however the net financial benefit to the club was £0 and this was a matter of interpretation of the timing rules relating to player registrations.

Derby acknowledge the claim from Middlesbrough but can see no merit in this being pursued by either party through the courts as this would only benefit the legal teams and neither of the football clubs or any other members of the EFL come out of this with any benefit. It could create a dangerous precedent for the EFL and would lead to claims being instigated concerning matters that are not necessarily related to teams competing on the football pitch.

The net benefit to Middlesbrough of being in the premier league for season 19/20 cannot be quantified but it is unlikely the club would have been profitable and therefore again the merit of the claim should be dismissed.

To ensure closure of this matter and allow the championship to continue with a full complement of teams for the 21/22 season Derby county are willing to offer a compromise.

Derby will support Middlesbrough community trust in the sum of £100,000 per annum for the next 4 years. They will also ensure that the Derby County Community Trust and Middlesbrough Trust work together to ensure that the benefits arising from these excellent community organisations can be maximised for the benefit of all the people involved and the users of these trusts.

 

[RammingStone66]

3 minutes ago, ptt1 said:

Here’s a solution.

Derby county football club limited accept that under the previous owners directors and in agreement with the previous auditors they applied an amortisation policy that whilst being in a format acceptable to accounting standards was outside of the understanding of the EFL and teams there in. Quantum accept that this was a moral misjudgement and deferred potential write downs on players to later in the term of their contracts however the net financial benefit to the club was £0 and this was a matter of interpretation of the timing rules relating to player registrations.

Derby acknowledge the claim from Middlesbrough but can see no merit in this being pursued by either party through the courts as this would only benefit the legal teams and neither of the football clubs or any other members of the EFL come out of this with any benefit. It could create a dangerous precedent for the EFL and would lead to claims being instigated concerning matters that are not necessarily related to teams competing on the football pitch.

The net benefit to Middlesbrough of being in the premier league for season 19/20 cannot be quantified but it is unlikely the club would have been profitable and therefore again the merit of the claim should be dismissed.

To ensure closure of this matter and allow the championship to continue with a full complement of teams for the 21/22 season Derby county are willing to offer a compromise.

Derby will support Middlesbrough community trust in the sum of £100,000 per annum for the next 4 years. They will also ensure that the Derby County Community Trust and Middlesbrough Trust work together to ensure that the benefits arising from these excellent community organisations can be maximised for the benefit of all the people involved and the users of these trusts.

 

Nice tactic but it feels like this is going to drag on with all parties digging in untill something changes

[Animal is a Ram]

 

[G STAR RAM]

3 hours ago, simmoram1995 said:

This is what I’d give to Gibson 

960,000 home gate receipts 

120,000 away gate receipts 

 

then it’s up to the EFL to reimburse them for what finishing 6th would be if they could prove it! As many have said their final 12 games consisted of 6-7 defeats that’s not play off form neither does it bode well especially with how good Leeds were that season.

 

as for Wycombe I wouldn’t give them a single penny 

Offering them anything is an admission of guilt. 

They have no way of proving sny of their claim and even if they did it should be against the EFL and not DCFC who were unknowingly acting outside of EFL rules.

[Caerphilly Ram]

I’m not saying Simon Jordan is the definitive authority on this, just sharing that it is being discussed at length on a national radio station. Their show is being dominated by the subject, to the detriment of other stories from the sound of it, which is what we want right? More exposure of the situation, more dialogue, more objective voices commenting.

[GboroRam]

13 minutes ago, G STAR RAM said:

Offering them anything is an admission of guilt. 

They have no way of proving sny of their claim and even if they did it should be against the EFL and not DCFC who were unknowingly acting outside of EFL rules.

I presumed we were giving them the paper receipts, not any actual cash. I might go for a million bits of paper as a compensation payout.

[Dai Capp]

15 minutes ago, Animal is a Ram said:

 

I think Pauline Latham took the time to meet with both DCFC and EFL yesterday so should have both sides of the argument... 

[Sparkle]

23 minutes ago, ptt1 said:

Here’s a solution.

Derby county football club limited accept that under the previous owners directors and in agreement with the previous auditors they applied an amortisation policy that whilst being in a format acceptable to accounting standards was outside of the understanding of the EFL and teams there in. Quantum accept that this was a moral misjudgement and deferred potential write downs on players to later in the term of their contracts however the net financial benefit to the club was £0 and this was a matter of interpretation of the timing rules relating to player registrations.

Derby acknowledge the claim from Middlesbrough but can see no merit in this being pursued by either party through the courts as this would only benefit the legal teams and neither of the football clubs or any other members of the EFL come out of this with any benefit. It could create a dangerous precedent for the EFL and would lead to claims being instigated concerning matters that are not necessarily related to teams competing on the football pitch.

The net benefit to Middlesbrough of being in the premier league for season 19/20 cannot be quantified but it is unlikely the club would have been profitable and therefore again the merit of the claim should be dismissed.

To ensure closure of this matter and allow the championship to continue with a full complement of teams for the 21/22 season Derby county are willing to offer a compromise.

Derby will support Middlesbrough community trust in the sum of £100,000 per annum for the next 4 years. They will also ensure that the Derby County Community Trust and Middlesbrough Trust work together to ensure that the benefits arising from these excellent community organisations can be maximised for the benefit of all the people involved and the users of these trusts.

 

Er no 

[Sparkle]

19 minutes ago, Animal is a Ram said:

 

Can’t wait for the fob off - we will look into it 

[sage]

 

So EFL, do you have a vendetta against Derby County?