The Kirchner-Morris Summit Meeting

[Tamworthram]

16 minutes ago, kevinhectoring said:

Well he put more money in to fix Gibbo. But at the moment he’s refusing to put more in to pay off MSD/creditors.
 

My hunch is Q agreed with him in 2021 that if he handed over the stadium, he would not have to provide more funding. And that they got their sums wrong ...

Maybe you’re right but, MSD haven’t yet taken the stadium off Mel and, until/unless they do, CK needs to be talking to Mel about it’s purchase.

once again, we are speculating as to what has been offered and demanded. Do any of us know what CK has offered for the stadium? Is Mel asking for more than £20m so that he can pay off the loan and walk away with something? Is Mel asking for an amount but not offering to repay the loan?
 

The bottom line, as I understand it, is that CK and Mel need to be talking to each other regarding either transfer of ownership of the stadium or leasing it. So CK does need to deal with Mel (unless an alternative ground share really is the way forward) which is where this all started.

[kevinhectoring]

4 minutes ago, Tamworthram said:

Maybe you’re right but, MSD haven’t yet taken the stadium off Mel and, until/unless they do, CK needs to be talking to Mel about it’s purchase.

Any sale/purchase has to be approved by MSD. Because they have a mortgage. That’s the problem.  And they probably won’t approve diddly squat unless they are repaid.  
 

The fact is: CK hasn’t bid enough to repay creditors and avoid a point deduction. So ... 

- MM needs to put his hand in his pocket again

- Ck needs to pay more

- the Council need to cough up AND/OR

- third parties (eg local businessmen) need to fill the funding gap. 
 

Plenty of options. Let’s just hope it’s not too many 

[Gee SCREAMER !!]

2 hours ago, DCFC1388 said:

Where has this come from?

A posted video of them. No time, so it may have been 9 o clock and he may have been on water but it sounded fairly lively. Either way, I would have thought a bit of full concentration and an early night may have been order of the evening with the future of the club possibly up s*it creek in 48 hours. 

[kevinhectoring]

9 minutes ago, Gee SCREAMER !! said:

 I would have thought a bit of full concentration and an early night may have been order of the evening with the future of the club possibly up s*it creek in 48 hours. 

He’s got jet lag. And he’s young 

[Gee SCREAMER !!]

1 minute ago, kevinhectoring said:

He’s got jet lag. And he’s young 

He's here more than at home.

I think with everything that's riding on this it's not great that he's out in town the night before such crucial talks .  I think it reflects poorly on his seriousness regarding this for anyone else at that meeting as well.  Out in town getting some back slaps and thanks for finalising nothing as it stands.  Too much showman and not enough substance. Finish the job then go on a 5 day bender if he likes.  

[kevinhectoring]

6 minutes ago, Gee SCREAMER !! said:

He's here more than at home.

I think with everything that's riding on this it's not great that he's out in town the night before such crucial talks .  I think it reflects poorly on his seriousness regarding this for anyone else at that meeting as well.  Out in town getting some back slaps and thanks for finalising nothing as it stands.  Too much showman and not enough substance. Finish the job then go on a 5 day bender if he likes.  

Fair enough - and we’ll see. Still hoping he’ll be our local hero ...  

[Carl Sagan]

2 hours ago, IslandExile said:

Brilliant!!

For the youngsters.... Whenever a manager lost his job, Alan Curbishley would always be listed as an outsider. But I don't think he ever got another job after leaving Charlton.

Ha! I remember pleading with Sam Rush that we should move heaven and earth to get Curbs, but Sam said the bottom line was that Curbishley refused to move out of London.

[Rammy03]

Unbelievable

[Phuket Ram]

5 hours ago, Carl Sagan said:

If this is all true and the debt MSD debt is owed by DCFC but secured against a stadium not owned by DCFC, then surely it is not a football debt so DCFC can offer the same figure to MSD offered to the other creditors as part of the agreement to exit administration? This adds 6-8 million over three years to the purchase price. Might be a dealbreaker for Kirchner depending on whether or not he has any money. 

But if MSD doesn't accept, then do they simply inherit the ground from Mel? That seems to follow from the above. Then we can lease the ground from MSD and continue to play there. But this is dangerous if they screw us over in the future, even if it might sound an attractive proposition for now. But we need a way of still having a club and, while we'd like to know the long-term future was also secure, any future is better than no future.

Hi Carl, you are correct - it's not a football debt. But it is different because they are a secured creditor. with a fixed charge over the stadium (i.e.  if DCFC defaults, then they own the. stadium) exactly as you say.

MSD have no need to negotiate, or to lease the stadium, they'd simply sell it - either to developers or to whoever wants to buy it. Not their problem.

So the negotiation has to be with Mel to see how much more £££ he is willing to lose.  He holds all the cards right now because he doesn't need to do anything. 

I'm still thinking that Mike Ashley will do a deal with Mel. It's quite likely in my opinion that he has already.  He ain't stupid. 

[TuffLuff]

6 hours ago, Rammy03 said:

Unbelievable

This is Feb 2020 and presumably one of those post match dinners with sponsors. It’s worth pointing out that this honesty is exactly why some liked Mel (and would go over well in a room like a sponsors dinner). In the context of watching this after 2 years though, he’s coming across as a highly stressed bloke trying to maintain a sense of control and ‘im in charge’. If this was happening behind the scenes it adds a little more context into why he struggled (although saying that this is the time when it just started to look like it was coming together under Cocu).

[CBRammette]

8 hours ago, Gee SCREAMER !! said:

He's here more than at home.

I think with everything that's riding on this it's not great that he's out in town the night before such crucial talks .  I think it reflects poorly on his seriousness regarding this for anyone else at that meeting as well.  Out in town getting some back slaps and thanks for finalising nothing as it stands.  Too much showman and not enough substance. Finish the job then go on a 5 day bender if he likes.  

Do we know he was drinking alcohol? Do we know re time? Do we know how long he was there? Do we know if it was an attempt to get to know Byrne/Laurence and perhaps others so they may sign a contract? Do we know he was getting backslaps or perhaps in need of distraction after a totally rubbish day? Do we know if others there such as local businessmen who may help (they're not all old)?
He seems to be the only guy willing to save us so lets round on him shall we?

[Tamworthram]

8 hours ago, kevinhectoring said:

Any sale/purchase has to be approved by MSD. Because they have a mortgage. That’s the problem.  And they probably won’t approve diddly squat unless they are repaid.  
 

The fact is: CK hasn’t bid enough to repay creditors and avoid a point deduction. So ... 

- MM needs to put his hand in his pocket again

- Ck needs to pay more

- the Council need to cough up AND/OR

- third parties (eg local businessmen) need to fill the funding gap. 
 

Plenty of options. Let’s just hope it’s not too many 

OK. I realise I didn’t explain myself very well.

Someone said that they wouldn’t want to deal with Mel either if they were CK.

If we’re expecting Mel or CK to cough up more then CK will definitely have to deal with Mel. 
 

The other options you have mentioned would, I agree, avoid CK having to deal with Mel but, they’ve not happened yet.

[jimtastic56]

7 hours ago, Rammy03 said:

Unbelievable

After listening to Mel at fans forums , it was clear he fancied himself as a manager . Totally deluded bloke that the EFL saw as an idiot as well. Does anyone know if he even ever played football ?His pal Rush was a “Rugby man”.

[G STAR RAM]

5 minutes ago, jimtastic56 said:

After listening to Mel at fans forums , it was clear he fancied himself as a manager . Totally deluded bloke that the EFL saw as an idiot as well. Does anyone know if he even ever played football ?His pal Rush was a “Rugby man”.

With his son in law doing the scouting I bet he really thought he had put together the dream team...

[G STAR RAM]

8 hours ago, Rammy03 said:

Unbelievable

The irony of his part about admitting to mistakes...

[Zag zig]

8 hours ago, Rammy03 said:

Unbelievable

Total cringe, full of his own self opinions and really just hope we can move on from all his mistakes.

[Gee SCREAMER !!]

2 hours ago, CBRammette said:

Do we know he was drinking alcohol? Do we know re time? Do we know how long he was there? Do we know if it was an attempt to get to know Byrne/Laurence and perhaps others so they may sign a contract? Do we know he was getting backslaps or perhaps in need of distraction after a totally rubbish day? Do we know if others there such as local businessmen who may help (they're not all old)?
He seems to be the only guy willing to save us so lets round on him shall we?

Did you read my earlier post. 

[CBRammette]

54 minutes ago, Gee SCREAMER !! said:

Did you read my earlier post. 

Yep all of them. You mentioned 9pm and may not be alcohol but thought still seemed quite critical when we have no facts other than a few second grainy video. But we all quite rightly have our opinions of that. I just dont want to overly criticise the only person who seems willing and able to save us from liquidation based on a tatty video

[Ram1988]

1 hour ago, CBRammette said:

Yep all of them. You mentioned 9pm and may not be alcohol but thought still seemed quite critical when we have no facts other than a few second grainy video. But we all quite rightly have our opinions of that. I just dont want to overly criticise the only person who seems willing and able to save us from liquidation based on a tatty video

I couldn't care less what he is drinking if he saves us from being liquidated. Surley that is what everyone's concerns and attention should be right now.

[ariotofmyown]

4 minutes ago, Ram1988 said:

I couldn't care less what he is drinking if he saves us from being liquidated. Surley that is what everyone's concerns and attention should be right now.

Definitely. Unless it was something like Carling.