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Wayne Rooney's Derby County - not any more (p41)
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I'm not a lawyer, so take this with a pinch of salt, but from what I know of the rules around administration they're only allowed to do this because the ground doesn't belong to the club. An administrator can't run up additional debts for the club, because increasing the total debt reduces the proportion that each creditor gets paid of whatever they're owed. Effectively Morris is paying the funds out of whatever he eventually gets for the stadium.Redrobo said:
I am not sure the loans can be secured to the ground because they don’t own it. Do the Club own more than five players and a manager?golfaddick said:Interesting comments from the EFL......but all of their own making I fear. It's their rules they are playing to so if they think there is little transparency then change the rules to say that the EFL should be party to any discussions regarding changes to club ownership. I realise the "members" have to vote & agree to any changes to the rules but it would be a start to get proposals out there.
Also it seems ongoing funding (wages etc) is basically being paid for by loans which are secured on the ground.And interest is being added to this debt which has to be paid off by the incoming owner. So basically any new owner is currently paying for the "club" even though they don't currently own it. Bonkers. Bit like buying a house & having to pay the vendors mortgage from the time you put your offer in to the time of completion.
I predict Derby will still be in Administration when the season starts and "assurances" will be given that there will be sufficient funding for them to complete the season - because the loan company will be happy to keep funding their club as they will get paid at some point & EFL dont have the rules to stop it.
Of course, increasing the debt secured on the stadium makes the club less attractive as a purchase, which makes it hard to see how the administrator is acting in the interests of the creditors here. And that's their legal obligation. But I suspect it would be hard for a creditor to prove that they'd lost money due to this wheeze, so in practice nothing will be done.0 -
Just seen a picture of Tom Lawrence playing golf with Chris Kirchner - that will cheer up the Derby fans!3
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He's out of contract i think so i doubt their fans will be seeing him again anyway.0
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I wish Duchatelet's dad had pulled out at the last momentCovered End said:
What an absolute %$&$.MarcusH26 said:
Same goes for Stanley DePfeffel6 -
Tonally pretty bad though, for someone who had been their club captain, and surely would have paid some attention to what has been going on.2
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scrap that
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Ah, didn’t realise. I nice little parting gift then!Chris_from_Sidcup said:He's out of contract i think so i doubt their fans will be seeing him again anyway.0 -
And they never saw Kirchner in the first place.Chris_from_Sidcup said:He's out of contract i think so i doubt their fans will be seeing him again anyway.0 -
Administrators running Derby County are seeking a short-term loan to pay the wages of staff for June.
The money would also be used to help put season tickets on sale for 2022-23 and sign players, although they are still subject to a transfer embargo.
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I wonder how many S/Ts they will sell.
Even I wouldn't buy one as things stand (if I supported Derby).1 - Sponsored links:
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I mean - say what?!?!clive said:Administrators running Derby County are seeking a short-term loan to pay the wages of staff for June.
The money would also be used to help put season tickets on sale for 2022-23 and sign players, although they are still subject to a transfer embargo.
The adminstrators want to borrow money .... how on earth is this allowed! To put season tickets on sale and to buy players - under a transfer embargo.
Christ on a bike10 -
Are we sure these people are actually administrators? As opposed to a couple of taxi drivers who turned up at the wrong door?clive said:Administrators running Derby County are seeking a short-term loan to pay the wages of staff for June.
The money would also be used to help put season tickets on sale for 2022-23 and sign players, although they are still subject to a transfer embargo.
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I can’t imagine how I would feel knowing I was going to lose a minimum of 75% of the money owed to me and seeing that before I get so much as a penny they are borrowing money to BUY players.
I think that a club with only five players and no ground is no longer a football club. The fixture list is out on Thursday. It is very sad to say, but the EFL need to call time4 -
At this point, I don’t see any difference between the administrators and ESI. They’re going to take their fees for as long as they can, and when it all goes tits up they’ll tell everyone they tried very hard, but there were no realistic buyers, sorry.7
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Surely there's no way they can prove to the EFL they can fund an entire season if they can't even pay staff for June3
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No.Swindon_Addick said:
Are we sure these people are actually administrators? As opposed to a couple of taxi drivers who turned up at the wrong door?clive said:Administrators running Derby County are seeking a short-term loan to pay the wages of staff for June.
The money would also be used to help put season tickets on sale for 2022-23 and sign players, although they are still subject to a transfer embargo.
Could even be from the non-existent taxi firm that advertised at Sheffield Wednesday - D Taxis.3 -
I appreciate that it is terrible for the derby supporters but they should never be allowed into the fixture draw. I dont understand how a company in administration can be allowed to borrow money it is just devaluing the worth of its existing debt to other debtors. They should be allowed to go under now and form again I'm sure in a few years they will be back in the league3
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This.Redrobo said:I can’t imagine how I would feel knowing I was going to lose a minimum of 75% of the money owed to me and seeing that before I get so much as a penny they are borrowing money to BUY players.
I think that a club with only five players and no ground is no longer a football club. The fixture list is out on Thursday. It is very sad to say, but the EFL need to call time
I believe they will be able to recruit players but only out of contract ones. When we were (unbeknown to us) under a transfer embargo we could only bring players in to replace those going out. And Bolton when in Administration could only play the U18's. So it is possible to bring players in but very limited.2 -
They still have Bielik. Surely, even his injury issues, he's their biggest financial asset, who can be sold to raise money to pay the wages. Indeed I imagine he's one of their biggest earners too1
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Whatever they’re smoking, it must be strong. Even the picture taken at the ground says ‘keep off the grass’supaclive said:
I mean - say what?!?!clive said:Administrators running Derby County are seeking a short-term loan to pay the wages of staff for June.
The money would also be used to help put season tickets on sale for 2022-23 and sign players, although they are still subject to a transfer embargo.
The adminstrators want to borrow money .... how on earth is this allowed! To put season tickets on sale and to buy players - under a transfer embargo.
Christ on a bike
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Pretty sure they still owe for him matekillerandflash said:They still have Bielik. Surely, even his injury issues, he's their biggest financial asset, who can be sold to raise money to pay the wages. Indeed I imagine he's one of their biggest earners too0 -
I'm pretty sure they still owe Arsenal about (reportedly) 8 million for him !!!killerandflash said:They still have Bielik. Surely, even his injury issues, he's their biggest financial asset, who can be sold to raise money to pay the wages. Indeed I imagine he's one of their biggest earners too1 -
At some point they might have to sell him, just to pay the next instalment of his fee!
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Yet we signed Washington and Gilbey.golfaddick said:
This.Redrobo said:I can’t imagine how I would feel knowing I was going to lose a minimum of 75% of the money owed to me and seeing that before I get so much as a penny they are borrowing money to BUY players.
I think that a club with only five players and no ground is no longer a football club. The fixture list is out on Thursday. It is very sad to say, but the EFL need to call time
I believe they will be able to recruit players but only out of contract ones. When we were (unbeknown to us) under a transfer embargo we could only bring players in to replace those going out. And Bolton when in Administration could only play the U18's. So it is possible to bring players in but very limited.0 -
Selling Beilik won't be easy whilst they pay him. Unlikely to get same wages elsewhere with his injury record. If they stop paying him he can walk on a free.0
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Bielik wants a move too, as the Poland manager doesn't think L1 is good enough to be considered for his squadAthletico Charlton said:Selling Beilik won't be easy whilst they lay him. Unlikely to get same wages elsewhere with his injury record. If they stop paying him he can walk on a free.0 -
If your most valuable player is so keen to leave that he'll take a wage cut to do so, that's normally not 100% a good thing. If your club's in such a mess that it's actually the nearest thing to good news that there's been for several weeks...killerandflash said:
Bielik wants a move too, as the Poland manager doesn't think L1 is good enough to be considered for his squadAthletico Charlton said:Selling Beilik won't be easy whilst they lay him. Unlikely to get same wages elsewhere with his injury record. If they stop paying him he can walk on a free.0 -
How can you sell someone that you haven't fully paid for yet. They need to pay Arsenal the full amount before they can sell him - none of this "we'll sell him for £10m & give you your £8m from the proceeds" malarkey.Athletico Charlton said:Selling Beilik won't be easy whilst they lay him. Unlikely to get same wages elsewhere with his injury record. If they stop paying him he can walk on a free.0 -
Asking because I don't know. Will Beilk be able to get a work permit, or what ever he actually needs, if he hasn't been playing?0
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Any money borrowed by the administrators will be incredibly expensive - no mainstream lender would take the risk, so they would need to go to the nether reaches of the debt market, and the interest rate would be mind boggling
The only way I can see Derby putting out a team at the moment is to promote their entire U23’s to first team, and play them - if they did somehow complete the season, then they would no doubt be relegated to Lge 2 because their squad wasn’t good enough
Total basket case of a club0
