Derby going into Administration | Page 4 | Vital Football

Derby going into Administration

JC21 said:
And as I said before, the likelihood is that it's going to be the same in the next 3 year period (2018-21) as well.
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I don't think he's talking about those so it's difficult to say that. I'm not sure what difference COVID makes or if the EFL will even have the appetite for more penalties much later down the road.

It's a mess, that is certain. Lots of doom from fans about the club not existing soon, same as you always see. I'm skeptical that there is any realistic prospect of the club going that far
 
MM in interview admits in past years accounts show DCFC paid £4m over FFP. He also stated he personally owns PP. not Moor Park. Both have charges to Dell. Has buyers in wings. Administrator will sort. Blames it all on covid.

one interesting point when questioned about manager churn he pointed finger at NFFC. Many other clubs have manager churn. Ed the interviewer said in rely Forest are not in administration.
 
Morris blaming it all on COVID.

Must have been a particularly bad strain in Derby, all the other clubs seem to have shaken it off fairly well
 
Polly 433 said:
MM in interview admits in past years accounts show DCFC paid £4m over FFP. He also stated he personally owns PP. not Moor Park. Both have charges to Dell. Has buyers in wings. Administrator will sort. Blames it all on covid.

one interesting point when questioned about manager churn he pointed finger at NFFC. Many other clubs have manager churn. Ed the interviewer said in rely Forest are not in administration.
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And forest have been fucking shit for a decade, which is why we have tended to sack our managers.

They have been challenging at the top for the best part of the decade
 
Pope John XXIII said:
Morris blaming it all on COVID.

Must have been a particularly bad strain in Derby, all the other clubs seem to have shaken it off fairly well
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The EFL had a fund to help clubs. The only club who didn’t get anything were Derby because they couldn’t and/or wouldn’t guarantee that they would repay it.
 
Pope John XXIII said:
I don't think he's talking about those so it's difficult to say that. I'm not sure what difference COVID makes or if the EFL will even have the appetite for more penalties much later down the road.

It's a mess, that is certain. Lots of doom from fans about the club not existing soon, same as you always see. I'm skeptical that there is any realistic prospect of the club going that far
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No he's not talking about those but they will have used the same amortisation in the first couple of years
 
Basha73 said:
Definitely. It’s part of why even with charges secured there is no guarantee of creditors getting their money back.
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I am not sure it works like that.

I am fairly certain that Dell will get their money back in full, due to the charge being in place.

Unless the club completely folds, The HMRC debt will carry over to the new owners; it will not go away, and neither will the football related debt.

Its going to cost a new owner the best part of 60m before they think of any new players.

My mate reckons it will take five years for them to recover.
 
Hang on a mo. Have they got cash at the bank or not? Do they have money owing them? Have they got any assets? Have they got any more loans available to them immediately? If the sum total of those " have theys" is exceeded by what they owe then they are insolvent.
 
mao tse tung said:
I am not sure it works like that.

I am fairly certain that Dell will get their money back in full, due to the charge being in place.

Unless the club completely folds, The HMRC debt will carry over to the new owners; it will not go away, and neither will the football related debt.

Its going to cost a new owner the best part of 60m before they think of any new players.

My mate reckons it will take five years for them to recover.
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I work with charges every day albeit on private ownership rather than company but the principle should be the same.

The charges themselves don’t usually carry over to a new owner. They are cleared at point of sale but it depends if there are sufficient funds as to whether the owner of the charge is paid in full. There is scope for negotiation with the new owner for the charge to remain in place but that depends on the terms of any sale.

MSD and any other secured creditor will only get their money in full if there are enough funds to do so. Another quirk is that charges are paid in date order not based based on the amount. That could have an impact too.

I am not saying they won’t get all of their money just that there is no guarantee. I could certainly see a scenario where it takes a good few years before they are back in an even keel regardless of the ownership situation.
 
Basha73 said:
I work with charges every day albeit on private ownership rather than company but the principle should be the same.

The charges themselves don’t usually carry over to a new owner. They are cleared at point of sale but it depends if there are sufficient funds as to whether the owner of the charge is paid in full. There is scope for negotiation with the new owner for the charge to remain in place but that depends on the terms of any sale.

MSD and any other secured creditor will only get their money in full if there are enough funds to do so. Another quirk is that charges are paid in date order not based based on the amount. That could have an impact too.

I am not saying they won’t get all of their money just that there is no guarantee. I could certainly see a scenario where it takes a good few years before they are back in an even keel regardless of the ownership situation.
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You missed the bit about HMRC being paid first regardless of any cosy arrangements being talked about .
 
jbacsta said:
You missed the bit about HMRC being paid first regardless of any cosy arrangements being talked about .
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No I didn’t I just talked about the debt secured by charges. I am pretty sure you are wrong though and that the football creditors rule still applies.
 
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