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The Administration Thread


Boycie

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1 hour ago, IslandExile said:

 

Wow. @i-Ram is ITK. Perhaps he is one of them (an Administrator I mean). After all, he keeps telling us to let them get on with their jobs and to have blind faith in what they are doing.

Blind, unquestioning faith is what all religions depend on. Oh, better not go there.....

But @i-Ram's (valid) point is that they cannot and will not say much more than they have done. I'm happy that at least they have said something. I hope they have provided Rooney and the staff with a little more information but we'll never know...

Careful now. I haven't got blind faith in Q. I do think though they are doing a lot of a better job than many on here think they are.

The challenges for them are significant. Significant with a capital F. 

Yes, they could improve their communication to fans a little, but probably only by not keep giving updates that lead fans to think substantial progress is imminent. They should be more careful with their phraseology, but whatever they say is never going to be enough for a febrile audience.

I had some dealings with Administrators and Receivers in my professional past, and would suggest that in this particular situation their priority in terms of ultimately keeping people happy is in the following order:

1) Their Professional Body (and PI Insurer)

2) Creditors

3) Bidders

4) DCFC Owner

5) DCFC Employees

6) EFL

7) Fans

The trickyness of this administration is 7). It is unusual for them to have such partisan oversight. Yes they might deal with unions, but this is a great step up from keeping them happy.  The bottom line is they cannot say anything that a) breaks confidentiality, or b) affects values, until such time as they have someone who has contractually agreed to proceed on exclusivity terms (with a wedge of money downpaid hopefully). Even then they will be tightlipped until the completion monies have been banked, allowing distribution. Loose tongues lose money, and leave Q open to great risks of being sued by anyone from 2) to 4) if they do not follow due process to the letter.

Difficult gig this one. Be interesting to see if they want to give it another go when the next Championship club goes bump.

Edited by i-Ram
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1 hour ago, Tamworthram said:

Excuse my ignorance but, with regard to restrictions, isn’t the level of debt potentially irrelevant? It’s income and expenditure that matters. 

What about 9 points took off us that was to do with ffp.

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5 minutes ago, Kathcairns said:

What about 9 points took off us that was to do with ffp.

You are confusing profit with debt.

Companies can make losses with no debt, and other Companies can make profit with eye-watering debts.

How is your son? Has he stopped coming on here now its not cool?

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1 hour ago, duncanjwitham said:

 

We've spent 6(?) months basically getting nowhere, but we're now seemingly at the stage where we have actual bids submitted and are about to start moving forwards.  It seems crazy to rush through the most important bit because people can't be patient for 5 minutes.

Ooh!  Have they referred to "In 5 minutes" yet?

If not, I think they should!  

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6 minutes ago, i-Ram said:

You are confusing profit with debt.

Companies can make losses with no debt, and other Companies can make profit with eye-watering debts.

How is your son? Has he stopped coming on here now its not cool?

Sorry not into finance, only my own.?.  Are you referring to the comedy gold moment.? he still looks(prob to see what i've put on).? busy with the new baby.

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1 hour ago, Dimmu said:

Little help for Quantuma, brought to you by Mirriam-Webster:

anon

before long

by and by

directly

momentarily

presently

in due course

at the appropriate time

when the time is right

not at this moment in time

forthwith

the day after tomorrow

hang on a minute

when I've done this first

you want it when?!!

do I have to??

I'm busy right now

be right back

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39 minutes ago, Kathcairns said:

What about 9 points took off us that was to do with ffp.

The 9 points had nothing to do with the actual amount of any debts we had.

FFP (or P&S) isn’t about your debt amount, it’s about your ability cover your expenses (including any loan repayments and interest) within your revenue (plus allowable amount of loss).

Unlikely I know, but in theory, if the loan is interest free with no immediate repayments, it could be for any amount you like.

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Todays update involves the same regurgitated poo

Q “we remain confident nat we
will be in a position to name a preferred bidder shortly.”

Even they don’t believe that, for me the reality is another month another £1m in their account.

We suffer whilst they prosper, it’s not in the administrators best interests to get this done sooner rather than later.
 

Our interests aren’t matched by theirs! I, as I am sure many of you came to this conclusion months ago ???

 

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3 minutes ago, Ted McMinn Football Genius said:

Todays update involves the same regurgitated poo

Q “we remain confident nat we
will be in a position to name a preferred bidder shortly.”

Even they don’t believe that, for me the reality is another month another £1m in their account.

We suffer whilst they prosper, it’s not in the administrators best interests to get this done sooner rather than later.
 

Our interests aren’t matched by theirs! I, as I am sure many of you came to this conclusion months ago ???

 

But we don’t know how the interested parties are being during the PB process, Ashley was going to be announced last Friday according to some reports.

I can see how difficult this process is for Q with so many issues to address. 

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