The Administration Thread

[Mckram]

1 hour ago, IslandExile said:

https://www.bbc.co.uk/news/uk-england-derbyshire-36855374 

https://www.independent.co.uk/news/business/news/sports-direct-mike-ashley-worker-conditions-minimum-wage-ian-wright-investigation-a7149971.html?amp 

https://amp.theguardian.com/commentisfree/2016/jun/08/inhumane-sports-direct-mike-ashley-workforce

To be fair to Mike Ashley, he genuinely didn’t know how bad the conditions were and once made aware did everything to correct it. He didn’t hide anything from the media and invited them all on tours to see it for themselves. The company has grown at a ridiculous rate and one individual cannot oversee it all at a detailed level. He did also get rid of some of the people who should have been ensuring the standards were better. 

[Crewton]

6 minutes ago, RadioactiveWaste said:

Lets not get too excited, Ashley's £50m is probably £30 for the club and £20 for the stadium, the £30 from AA is probably for the club with the stadium "yet to be negotiated" so both bids are probably not a million miles apart, but divied up slightly differently, perhaps with Ashley having an upper hand of knowing how to bid just slightly more than the existing AA bid.

Still, either is better than shady Alonso or BZ-cheque in the post

I thought the Percy article said £50M for the club & debt cover, with a separate deal with MM for the stadium? Indeed, the company that owns the stadium isn't in Administration, is it? Therefore the two transactions wouldn't be part of the same deal anyway.

[Gee SCREAMER !!]

Personally, I think we should see how this one develops, relax over the weekend.  Let our friends over on OTIB do all our worrying for us 

 

[Guest]

If Ashley is the guy we need to welcome him with open arms . He has run Newcastle within profit and sustainability rules for about 13 years. All but two of those years have been spent in the EPL. The other two years were spent winning the EFL Championship. What wouldn't we have given for that record at Derby over the same period?

The Newcastle fans at first welcomed him with open arms but when they realised he wasn't going to provide them with an open cheque book they turned on him. Theirs was an uncomfortable co-existence ever since. Why was that? Because  the Geordie fans had unreasonable expectations. They are a club that has not won a top domestic trophy since their FA Cup triumph in 1955 but they think they have a God given right to compete to be in the top four of the EPL every season. At first, Ashley sat with them at away games until they turned on him when they realised he was not going to endlessly bankroll them come what may..

We do not have the same expectations. We have been floored by a guy who promised us the earth as a local benefactor but then walked away having brought our club to its knees and to the brink of being liquidated after 137 years of a very proud footballing history. We should be grateful for salvation from our current predicament. If it is to be Mike Ashley, Andy Appleby or whoever else who takes us over, we should be grateful and give them our ultimate support in the first instance for removing us from our current precarious predicament.

Just give them a chance without any prejudice because We Are Derby.

[S8TY]

11 minutes ago, Brailsford Ram said:

If Ashley is the guy we need to welcome him with open arms . He has run Newcastle within profit and sustainability rules for about 13 years. All but two of those years have been spent in the EPL. The other two years were spent winning the EFL Championship. What wouldn't we have given for that record at Derby over the same period?

The Newcastle fans at first welcomed him with open arms but when they realised he wasn't going to provide them with an open cheque book they turned on him. Theirs was an uncomfortable co-existence ever since. Why was that? Because  the Geordie fans had unreasonable expectations. They are a club that has not won a top domestic trophy since their FA Cup triumph in 1955 but they think they have a God given right to compete to be in the top four of the EPL every season. At first, Ashley sat with them at away games until they turned on him when they realised he was not going to endlessly bankroll them come what may..

We do not have the same expectations. We have been floored by a guy who promised us the earth as a local benefactor but then walked away having brought our club to its knees and to the brink of being liquidated after 137 years of a very proud footballing history. We should be grateful for salvation from our current predicament. If it is to be Mike Ashley, Andy Appleby or whoever else who takes us over, we should be grateful and give them our ultimate support in the first instance for removing us from our current precarious predicament.

Just give them a chance without any prejudice because We Are Derby.

Great post 

[MackworthRamIsGod]

I would have thought that Sky Sports saying "next 48 hours" is Rob Dorsetts way of having a pop at the Derby fans, seeing as he got a bit of stick on Twitter.

Not a chance he could named prefered bidder yet if he has just come forward as an interested party.

[Bris Vegas]

Assuming we first want to match the likes of Norwich, Fulham and WBA as to-yo clubs, before something more established like Southampton, we need to be run as a profitable business and have strategic moves in place. 

We had the perfect owner in Mel Morris but he was a terrible chairman.

Mike Ashley may not be the super wealthy Derby fan owner. But that’s probably a good thing. He knows business. And he wouldn’t touch Derby with a barge pole unless he thought he could turn it into a profitable business and to be profitable you need to play PL football at least once every 3 years.

 

[kevinhectoring]

7 hours ago, Andicis said:

Every single billionaire has some skeletons in their closet

Ashley’s skeleton is very well concealed 

[Van der MoodHoover]

58 minutes ago, Bris Vegas said:

Assuming we first want to match the likes of Norwich, Fulham and WBA as to-yo clubs, before something more established like Southampton, we need to be run as a profitable business and have strategic moves in place. 

We had the perfect owner in Mel Morris but he was a terrible chairman.

Mike Ashley may not be the super wealthy Derby fan owner. But that’s probably a good thing. He knows business. And he wouldn’t touch Derby with a barge pole unless he thought he could turn it into a profitable business and to be profitable you need to play PL football at least once every 3 years.

 

One thing he had at Newcastle was a very well established scouting and recruitment set up under the formidable Graham Carr. This was an important component of the model - 50m for Andy Carroll for example. 

 

Wonder what equivalent potential his team will see when they run the ruler over Joe maclaren and Co, with their glittering track record.... ?

[Kathcairns]

7 hours ago, IslandExile said:

This may be another controversial post but it's really only an observation - and one that others have already alluded to....

Very few people objected when Mel was splashing the cash. It was really only when the severity of the current situation became clear that the majority became annoyed that he wasn't more careful with the spending.

Before Mel, Maxwell and Pickering both put the club at risk by overspending then suddenly cutting the cash flow.

After the state Mel put us in, a lot of people voiced their support for a returning Appleby because they could see he would have a tight reign on expenses, and would run the club sustainably.

Now that Ashley is in the picture, and who has much more money than the Appleby consortium, everyone appears uber excited about having an owner that will once again "splash the cash".

Someone has pointed out that he does so as loans, so is able to pull that money back in if and when the club is sold to the next owner - or next goes into Administration. So, just be careful what you wish for.

EDIT to say: yes I'm perfectly aware of the good times we did have under Maxwell and Pickering before they cut the money supply. Yeah, ok, let's splash the cash ?

I think the differance is that ashley will not splash the cash and i think we all understand that. If he gets us on an even keel then gets bored and wants to sell at least we will be a viable cub that someone wants to buy and not one in administration. At the end of the day i just want Derby to survive.

[Old Spalding Ram]

The usual Geordie mouthpieces giving it large on the comments section from The Times article regards Ashley’s bid.

Here’s my favourite reply.

We don't own our ground, have debts totalling £60m, owe HMRC £26m, haven't seen the PL since 2008 and have a squad made up of pensioners and children. Along the way we sacked our captain for his involvement in a drink driving debarcle, we had very public spats with the EFL, we are being sued by fellow EFL members, and this year marks 14 since we were the worst team in PL history.

We know what bad ownership looks like.

NUFC fans don't know they're born.

 

…………….seems fair comment to me!?

 

[I know nuffin]

Admit it, this is Derby county did you actually believe when we were down to one interested party there would not be a twist somewhere in the story

[Boycie]

Everyone hopes there’s that one higher bid with a second to go when you’re selling on eBay.

[IslandExile]

1 hour ago, Kathcairns said:

I think the differance is that ashley will not splash the cash and i think we all understand that. If he gets us on an even keel then gets bored and wants to sell at least we will be a viable cub that someone wants to buy and not one in administration. At the end of the day i just want Derby to survive.

So, if he isn't going to splash the cash, why does everyone seemingly prefer his bid to that of Appleby & co.?

[Kathcairns]

13 minutes ago, IslandExile said:

So, if he isn't going to splash the cash, why does everyone seemingly prefer his bid to that of Appleby & co.?

As ive said before you obviously would prefer rush who isnt whiter than white. We want to go forwards not backwards.

[Curtains]

16 minutes ago, IslandExile said:

So, if he isn't going to splash the cash, why does everyone seemingly prefer his bid to that of Appleby & co.?

Because 30 Million they are offering won’t cover the debt 

[Curtains]

18 minutes ago, IslandExile said:

So, if he isn't going to splash the cash, why does everyone seemingly prefer his bid to that of Appleby & co.?

The administrators want 50 Million to cover the debt  not 30 Million.

It’s just a matter of getting the best offer for the creditors.

This seems to have been forgotten in all this .

Its all about what the creditors will except and that’s it in a nutshell 

[angieram]

Not that I have any intention of listening to him (I suspect he heard about Ashley at the same time as the rest of us on Twitter) but I thought the breakdown of Newcastle's finances might be of interest.

 

[PistoldPete]

7 hours ago, MackworthRamIsGod said:

I would have thought that Sky Sports saying "next 48 hours" is Rob Dorsetts way of having a pop at the Derby fans, seeing as he got a bit of stick on Twitter.

Not a chance he could named prefered bidder yet if he has just come forward as an interested party.

If hes offered more than the others, and he's the 60th richest man in the Country, the admin team will be saying.. where do we sign? 

[IslandExile]

2 minutes ago, Curtains said:

Because 30 Million they are offering won’t cover the debt 

On the surface, Kirchner's 50 million would have but the Administrators said the structure of it was less than that of other bids. Were they referring to Appleby or to Ashley? We just don't know.

And my point is we are not privy to the bids, the amount, the structure or any of the details. All we have to go on is journalists' speculation.

Anyhow, let's see how it pans out. The most important thing is that the club is saved. And, for me, the good thing about last night's news is that now appears more likely.