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The Administration Thread


Boycie

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Just now, PistoldPete said:

Well I suggest you maybe listen to Rob Dorsett. There is nothing to say when the deadline is 5pm or midnight tonight. If the deadline has not passed what is the point of EFL issuing the statement now?  

Crivens man. Its patently obvious what the point of the EFL issuing the statement now is, read between the lines - you've had a month to submit evidence so why are you leaving it to the final knockings to do this. 

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2 minutes ago, Tyler Durden said:

Just watched Rob Dorsett on Sky who did say that there is no specific time stated today but take your point....not sure why you would want to leave it right down to the wire though when you've had a month....

Because they had to deal with parasites 1 and 2 , three potential bidders (and other interested parties) and then finalise the interim financing and proposal to put before EFL. And this is quite standard in takeover deals, lawyers and other professionals do not work standard hours. This is quite normal.. except for EFL posturing which is unique.  

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9 minutes ago, Tyler Durden said:

The point of it is to do exactly what they intended to do which is put in the public domain that our administrators have neither shown them proof of funding for the rest of the season by an agreed deadline and also don't have a preferred bidder in place yet.

If you agree to a deadline why the hell would you then not go back to submit the necessary evidence by that deadline and have the other party chase you for it. Its weird. 

I think I managed not to look for about 20 minutes. Perhaps re the deadline its because Q do expect to announce something today. With speed of how EFL react for them to issue that statement this afternoon must have been drafted and signed off over the first G&T before lunch before someone made it look pretty, fiddled with the formatting etc. if something being announced tonight then why would Q stop what they are doing to issue a mini statement? Still trying to keep the faith!!  

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2 minutes ago, Tamworthram said:

Their concerns may well be proved to be well founded but the statement was, at the time it was issued, a little premature. However you work out the expiry of the extension (5pm, 6pm or 23:59) their statement was issued before that deadline had arrived. 
 

IMO they should have withheld the issue of any public statement until either an update had been received or the deadline had passed.

Exactly.

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4 minutes ago, Tyler Durden said:

Just watched Rob Dorsett on Sky who did say that there is no specific time stated today but take your point....not sure why you would want to leave it right down to the wire though when you've had a month....

Same reason that every transfer window goes down to the last seconds, when they've had all month. Someone, somewhere believes that they can gain an advantage by taking things to the last minute.

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1 minute ago, ram59 said:

Same reason that every transfer window goes down to the last seconds, when they've had all month. Someone, somewhere believes that they can gain an advantage by taking things to the last minute.

Playing devils advocate what is the administrators advantage to be levered by leaving it right down to the last minute.

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Let's be honest, even if we come up short on the money required, the EFL will come up with a fudge to allow us to see the season out. 

Anything else would be a nightmare for them, with lawyers for the other 23 clubs coming at them from all angles. It'll be cheaper and easier all round to somehow allow us to finish the season, then finish the club itself.

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6 minutes ago, PistoldPete said:

Well I suggest you maybe listen to Rob Dorsett. There is nothing to say when the deadline is 5pm or midnight tonight. If the deadline has not passed what is the point of EFL issuing the statement now?  

I suppose they are feeding the cat , putting the milk bottles out, winding the clocks and phoning Gibbo to say they hope he sleeps well......and then want to go home knowing funding is in place.

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2 minutes ago, MackworthRamIsGod said:

My guess.

Ashley is the preffered bidder, ticks all the boxes, but he is offering less to Mel for the stadium and less to quantuma for their fees.

Mel won't budge and neither will Quantuma. So it's a stalemate until someone blinks.

If that is the case, I hope Ashley rinses them.

Let’s hope someone blinks soon ?

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1 minute ago, MackworthRamIsGod said:

My guess.

Ashley is the preffered bidder, ticks all the boxes, but he is offering less to Mel for the stadium and less to quantuma for their fees.

Mel won't budge and neither will Quantuma. So it's a stalemate until someone blinks.

If that is the case, I hope Ashley rinses them.

That won't happen mate it has to be agreed before they discuss anything else.  Mel should be quite happy to take rent on the stadium or a couple of million less if he plans to sell it or he winds up with an allotment. 

The administrators are basically poo.

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Could it be that bids made were to low for creditors to accept, they wanted the full amount but didnt get that.

So now they are staring at a loss, but while a partial loss is better than nothing, it still doesnt mean that the creditors have to accept that.

The creditors might want to get nothing, thats their choice.

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4 minutes ago, Oldben said:

Could it be that bids made were to low for creditors to accept, they wanted the full amount but didnt get that.

So now they are staring at a loss, but while a partial loss is better than nothing, it still doesnt mean that the creditors have to accept that.

The creditors might want to get nothing, thats their choice.

It also ties in with the story that we would start next season on -15. You would think anyone seriously looking to buy the club would want to avoid that, but who knows at this stage. 

I'm looking forward to a stint in League One, but not a chance if we start on minus points again. 

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9 minutes ago, Tyler Durden said:

Playing devils advocate what is the administrators advantage to be levered by leaving it right down to the last minute.

My guess, Or my thinking as this seams to be the mantra today.

Q are sitting in their office smoking Stogies and having a right laugh at the EFLs expence for them taking the piss out of us this season, Mike Ashley has just ordered meals for all and swigging some Merlot.

I'm not concerned at all?

 

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19 minutes ago, MackworthRamIsGod said:

My guess.

Ashley is the preffered bidder, ticks all the boxes, but he is offering less to Mel for the stadium and less to quantuma for their fees.

Mel won't budge and neither will Quantuma. So it's a stalemate until someone blinks.

If that is the case, I hope Ashley rinses them.

I reckon that’s about right.

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Chris Coles on RD said that EFL have proof of funding but the EFL statement isn't worded kindly.

It is fact that Q have declared that DCFC's administration is the most complex that those people have worked on with 35 years' experience.

Communication isn't what people want but I wouldn't want them to use the inflammatory tactics of the parasites and EFL

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