D*rby to be relegated?

[The Poacher]

Does anyone have a vague idea what the asking price is? I know the tax bill is pretty hefty & then there’s all the shit with the ground, after all the debts are cleared they really must be looking at a value of about £1?

50p more likely

 

[Basha73]

I assume, not read details of latest ruling, this agreement means Derby won’t suffer further points reduction in future season due to past accounting. Clean slate. I also assume the restrictions on wages and transfers will still stand next season. I know some of you have clarified this but just wanted to place on record now EFL ruling has been announced.

That’s why they have done it. Gives any new buyer clarity in as much as they are going to be in league one barring a miracle but there are no more historic points deductions hanging over them.

I was hoping the 9 points would be saved for next season but can’t have everything…

 

[Basha73]

Does anyone have a vague idea what the asking price is? I know the tax bill is pretty hefty & then there’s all the shit with the ground, after all the debts are cleared they really must be looking at a value of about £1?

50p more likely

My guess is that the only ‘fee’ will be a commitment to pay the debts although Mel owning the ground does complicate things.

 

[flipleflem]

I think that before they went into administration Mel was willing to sell to anyone willing to take on the debts for one pound. This didn't include the stadium though so I presume any new owners will have to negotiate for the use of this separately with MM.

50p more likely

 

[The Poacher]

My guess is that the only ‘fee’ will be a commitment to pay the debts although Mel owning the ground does complicate things.

DCFC can still have the 3 suspended points added IF they default on wages until the end of the season.
All historical p&s have been finalised and included with this 9 extra points deductions so a total of -21 with 3 suspended.

 

[Basha73]

DCFC can still have the 3 suspended points added IF they default on wages until the end of the season.
All historical p&s have been finalised and included with this 9 extra points deductions so a total of -21 with 3 suspended.

True but that is up front and known so shouldn’t be an issue for any new ownership.

 

[Woanz]

My guess is that the only ‘fee’ will be a commitment to pay the debts although Mel owning the ground does complicate things.

That’s how I see it as well. The stadium sale is why I assume the sheep have took all points deductions now as I really don’t see how the £80m or whatever the stadium sale was done for is going to work as there has to be tax implications on that moving back to the club?

 

[mao tse tung]

My guess is that the only ‘fee’ will be a commitment to pay the debts although Mel owning the ground does complicate things.

I think there has to be a nominal fee for taxation purposes, its usually £1.

The remainder of the reported purchase cost will go towards paying off all of the creditors and for getting the ground back; preferred creditors alone must be the top side of 30m, maybe more if the players have been taking wage deferrals.

 

[Woanz]

I think there has to be a nominal fee for taxation purposes, its usually £1.

The remainder of the reported purchase cost will go towards paying off all of the creditors and for getting the ground back; preferred creditors alone must be the top side of 30m, maybe more if the players have been taking wage deferrals.

does the deferral get around the points deduction for not paying wages?

 

[mao tse tung]

That’s how I see it as well. The stadium sale is why I assume the sheep have took all points deductions now as I really don’t see how the £80m or whatever the stadium sale was done for is going to work as there has to be tax implications on that moving back to the club?

The Ground will only be worth what the new owners want to pay for it.

In theory, they could tell Mel to stick the ground and state that they are going to build a new one; the ground then becomes close to worthless.

The only tax implications would be if a) Mel makes a profit on the sale - I think we can rule that out, and b) whatever stamp duty is due on the sale.

 

[mao tse tung]

does the deferral get around the points deduction for not paying wages?

Yes

 

[Basha73]

The Ground will only be worth what the new owners want to pay for it.

In theory, they could tell Mel to stick the ground and state that they are going to build a new one; the ground then becomes close to worthless.

The only tax implications would be if a) Mel makes a profit on the sale - I think we can rule that out, and b) whatever stamp duty is due on the sale.

I would have thought there would need to be a contract in place for Derby County to use the ground. Breaking that contract would involve a cost.

To avoid further pain, Mel would ideally want at least the value of any charges secured on the ground and it would then depend if he wanted more on top of that.

 

[Woanz]

The Ground will only be worth what the new owners want to pay for it.

In theory, they could tell Mel to stick the ground and state that they are going to build a new one; the ground then becomes close to worthless.

The only tax implications would be if a) Mel makes a profit on the sale - I think we can rule that out, and b) whatever stamp duty is due on the sale.

I guess that’s the stupidity of Mad Mel specifically & football more generally that he can “buy” the ground for £80m & essentially then have to give it away

 

[Strett]

This is better than an EastEnders Xmas special.

 

[mao tse tung]

I would have thought there would need to be a contract in place for Derby County to use the ground. Breaking that contract would involve a cost.

To avoid further pain, Mel would ideally want at least the value of any charges secured on the ground and it would then depend if he wanted more on top of that.

Getting enough to clear the charges would be my assumption; the nuclear option only comes into play if that crazy c * n t starts wanting a silly amount.

 

[seasider red]

This is better than an EastEnders Xmas special.

Even watching Forest under Hughton was better than an Eastenders Xmas special

 

[mao tse tung]

League 1 and 2 are not taking a break for the world cup mate.

Nixon is carrying a piece about settlement with non preferential creditors.

He quotes the Luton case from 07/08 where they started the following season with minus 30 points because they exited Admin without an agreement on a CVA with the NPCs

They even had the Golden Share withheld at one point.

There is absolutely no chance of Derby being allowed to play again until all creditors have been paid up.

https://twitter.com/x/status/1460617662623633411

 

[mao tse tung]

Did anyone manage to confirm if there is a two year embargo placed on clubs exiting admin?

 

[Basha73]

Nixon is carrying a piece about settlement with non preferential creditors.

He quotes the Luton case from 07/08 where they started the following season with minus 30 points because they exited Admin without an agreement on a CVA with the NPCs

They even had the Golden Share withheld at one point.

There is absolutely no chance of Derby being allowed to play again until all creditors have been paid up.

https://twitter.com/x/status/1460617662623633411

That was messy as fuck. Don’t think it will be repeated but the way this circus is going you never know…

 

[Basha73]

Getting enough to clear the charges would be my assumption; the nuclear option only comes into play if that crazy c * n t starts wanting a silly amount.

Mel is just mad enough to insist on getting some of his money back but I have to agree, enough to pay the charges would be the sensible solution.