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Derby into administration.

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  • #16
    Originally posted by Abseits View Post

    What's a "Bury" then? They cheated and overspent and got promoted at the expense of clubs who played with a straight bat. They subsequently couldn't cash all the cheques they'd written and went bust. Nobody wanted to buy them or rescue them - why would anyone be interested in buying a septic club with barely 1.5K fans attending games???? There are dozens of properly run clubs that are 10x bigger than Bury in the 5th tier or below, why should they have to watch Bury sitting smugly cheating at top table - it doesn't make sense.

    I suspect most of these cheating crooked clubs hope that sentimental dewy eyed simps will rally round and not allow the clubs to fail, even when the club is guilty of systematic gross mismanagement and blatant cheating.

    It's open for a Bury phoenix club to rejoin the pyramid at a bottom tier and I believe that's happened, that sounds fair enough to me.
    ded
    In truth, whilst I feel for the fans, cannot really disagree with the above.

    Years ago, Luton were also heavily punished for 'financial cheating' and to all intense and purposes were relegated out of the Football League. I think that many of the Luton fanbase believe a similar fate for Derby would be justice.

    I have some sympathy for Wycombe, but in all honesty the 'promotion' they won (whilst in 7th place with games in hand) was very unfair on Peterboro and other clubs when the League 1 season was abandoned and many would say justice was served with their relegation.

    QPR got caught 'cheating' the Financial (un)Fair Play rules and the punishment served has been the financial restraints that have seen us spend 6 more seasons - and counting -in the Championship. Struggling in the bottom 10 for most of those.

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    • #17
      Now official and deducted 12 points

      https://www.bbc.co.uk/sport/football/58649432

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      • #18
        Originally posted by SheepRanger View Post
        Now official and deducted 12 points

        https://www.bbc.co.uk/sport/football/58649432
        Any idea when the points get deducted?
        got to feel for Wycombe?
        F*CK OFF CHELSEA WEST LONDON IS OURS!
        .2.1.13.

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        • #19
          Originally posted by northampton rs View Post

          Any idea when the points get deducted?
          got to feel for Wycombe?
          I assume they come off immediately until any appeal is heard. If they appeal.

          Feel for Wycombe and hopefully they can come straight back up

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          • #20
            Looks like reading are about to get 9 points deducted aswell. They have a wage bill of 40m per year which is absolutely astonishing. It's not like they are running away with the league. Trying to buy success. We all know how that tends to go!!

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            • #21
              Originally posted by northampton rs View Post

              Any idea when the points get deducted?
              got to feel for Wycombe?
              Minus 2 pts on the BBC championship table

              https://www.bbc.co.uk/sport/football/championship/table

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              • #22
                Be interesting to watch how Rams extricate themselves from that phoney ground sale nonsense they indulged in. Obviously any potential buyer will want the club AND stadium in the deal but I suspect Mel Morris pee'd on his chips with his smoke and mirrors stadium accounting and now he's deep in do-do holding a grossly overvalued stadium to get rid of.

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                • #23
                  I think it's safe to say if they could have beaten our 10 men side at Wembley they wouldn't be in this mess, well maybe it would have delayed things a bit, terribly run club, I have little sympathy for the cheats!
                  @gatorTFC

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                  • #24
                    Originally posted by gator View Post
                    I think it's safe to say if they could have beaten our 10 men side at Wembley they wouldn't be in this mess, well maybe it would have delayed things a bit, terribly run club, I have little sympathy for the cheats!
                    If they had beaten us at Wembley perhaps we wouldn't have got into the mess we did.

                    One wise chap once said ''Its a funny ol' game''

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                    • #25
                      Didn't he use the Stadium as the collateral on a 20m loan from an Americas hedge fund?

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                      • #26
                        Originally posted by Abseits View Post

                        Nah, they're done for. They've put themselves into administration so it's 12pts deduction, nothing to discuss. They are still negotiating a punishment for previous financial nonsense so whatever that outcome is will get added to the 12pts.
                        9 points?
                        QPR
                        Best team in the world
                        Sort of

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                        • #27
                          Apparently any new owner has to clear 50m of debt from Derby's books alone.

                          1. 10m apparently owned to Football Creditors.
                          2. 20m secured debt from an American Hedge Fund.
                          3. 30m tax bill.

                          On top of that Derby have requested their payments to players are delayed, that would mean points deductions and non-payment to football creditors also means a points deduction.

                          Im no financial advisor, but this aint looking good, there is a very real chance of liquidation if they cant find a buyer.

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                          • #28
                            There's always someone out there prepared to buy a distressed football club at 10p to 1 debt. All debtors will have to accept a haircut to recoup some of their losses.

                            They'll be in L1 next season even if they have to see the season out by playing the U18s.

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                            • #29
                              Originally posted by SheepRanger View Post
                              There's always someone out there prepared to buy a distressed football club at 10p to 1 debt. All debtors will have to accept a haircut to recoup some of their losses.

                              They'll be in L1 next season even if they have to see the season out by playing the U18s.
                              I tend to disagree that there's always a buyer. There's tighter FFP in League One including a 2.5 million salary cap. Doesn't matter how rich/stupid new owner is, they cant really buy or spend their way to promotion - they'd have to do it purely on a shoestring and sporting merit, concepts totally alien to folks of Derby it seems. To do that from a starting point of at least minus 50million is utterly unfeasible.
                              Ultimately it depends what the administrator unearths. My gut feeling is they will discover a total mess of debt and s-housery that will make DCFC totally unviable for sale in any reasonably competitive form.

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                              • #30
                                Originally posted by Abseits View Post

                                I tend to disagree that there's always a buyer. There's tighter FFP in League One including a 2.5 million salary cap. Doesn't matter how rich/stupid new owner is, they cant really buy or spend their way to promotion - they'd have to do it purely on a shoestring and sporting merit, concepts totally alien to folks of Derby it seems. To do that from a starting point of at least minus 50million is utterly unfeasible.
                                Ultimately it depends what the administrator unearths. My gut feeling is they will discover a total mess of debt and s-housery that will make DCFC totally unviable for sale in any reasonably competitive form.
                                Other than the starting point of 50m could be 5m if the creditors accept 10p in the 1 if the admin process progresses to insolvency.

                                When Leeds entered an IVA, from memory it started at 14p in the 1 but HMRC objected because Bates was involved in the old and the new company in some capacity. Their thinking it was a debt clearing exercise only. I think it settled at circa 20p per 1 of debt.

                                It Morris is not involved in the preferred new company then it will be down to the administrator which bid to accept. The highest bid might be 30p in the 1 but a different company offering 25p in the 1 may be accepted if it was more likely to result in a sale.

                                How much debt do you think a football owner would take on if the stadium and training facilities would be subject to monthly rental fees to Morris's seperate companies? There dont seem to be any players of value there, so I doubt the football side alone is worth a huge amount with player contracts to pay?

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