I didn't realize that Derby can't even sell season tickets until they're out of admin. Fixtures out in 4 days ,not looking good is it.
Double edged sword Latest news Supporters groups have sent a joint letter to Business Secretary Kwasi Kwarteng, asking him to intervene and "expedite the sale of the club as soon as possible". The letter adds: "Quantuma is borrowing further money to keep the club going - increasing the debt and making the club more difficult to sell and increasing frustration amongst fans, prospective purchasers, and now the EFL.
Whilst I'm normally quite quick to criticise the current Govt for their lack of action on things, not sure what any competent minister would be able to do to speed up the sale, let alone a current minister. It's all well and good people saying they had 'agreed offers' (no idea what that even means, was the offer accepted?), but if Kirschner put the best offer in, and showed proof of funds at the time and passed the EFL tests, not sure what the admins were to do? I'm surprised that the HMRC haven't issued a winding up order yet (are they able to do that while in admin?), because more loans just increases the price and makes it less likely that creditors can get a fair repayment. At what point do the EFL say enough is enough?
Can I just give an opinion on that re administrator. The administrators and EFL ratified the takeover. That isn't the issue as far as I can tell. It's the constant extensions that were given. So many promises of a takeover date. In my view other interested parties should have been brought in at the very first completion due date.
Yeah, I know its harsh and its unfair on the fans. But the Efl really should get off their backsides here, and finally take some strict action!. Kick them where it hurts, because they've been asking for it.
How would a loan in these circumstances work? Surely they are a high risk, nothing to act as guarantor etc. You’d think only people willing to lend would be very high interest.
Thought the EFL were now "closely involved in all aspects of the sale" due to the last sale falling thru. They authorising this loan then? They getting it off Wonga?
The loan is from msd already owed 15 mil when they went into admin since been increased secured against the ground they don’t own how’s that work. Administrators say they have interested parties in buying but they have all refused permission of it being passed on to the EFL so they they can’t get any clarification on situation
And surely would get nothing back as creditors on liquidation given that they loaned when the club were already in admin? They've got Knight, Sibley and Beilic which should fetch some money they need to be sold ASAP.
Don't disagree. But I think Administrators should pass an EFL right and proper company check. Because it sounds as though they have been incompetent at best, and rip off merchants.
Honestly don’t know TBH. Pretty sure though if my business went into administration and asked to borrow money to pay staffs wages based on not got enough money coming in to cover costs, owe loads and nothing to offer against it as security I’d be laughed out of any reasonable money lender.
Yeah maybe they should be taken to task as well, its a nasty business though and I hope we never have to do it all again. But despite having said that, I think Derby as a club have brought this on themselves and deserve everything thats hopefully coming.
I agree but I reckon the worst they'll get, is another points deduction if in the rules to be able to do so. I bet the EFL are pissing in their pants. Because whatever happens. Flak is coming their way.
Just let them go bankrupt so they have to start again somewhere like the 12th tier. I am sick of hearing about them.
No club should die including derby. I get small clubs would be gone now but that aint derbys fault. Thats the efl.
I'd posted on an earlier thread, the administrator can borrow to protect an asset. Probable rationale: don't pay players, they can regard contract as broken and leave for nowt. Pay them, contract remains, can be sold for a fee. Someone else asked if HMRC can wind up in high court. Short answer, extremely unlikely. It needs a courts permission and not likely to be granted. Administration order lasts 12 months then needs renewal at which point in theory at least, administrator could be replaced or order ended and then onto liquidation. This needs agreement of creditors but given "owner" is by far and away biggest creditor HMRC wouldn't get a look in. The irony is that once appointed an administrator is an officer of the court and can't walk away. For all we know he might want out. Like most I can't see the EFL just allowing such club to go under. It would send a shockwave through football, a needed one in my view but I can't see it happening