Derby ‘set to enter administration’.
https://twitter.com/dcfcofficial/status/1438948354474532871?s=21
‘Derby County Football Club today announced that the Club, the ultimate holding company of the group, and all of the subsidiary companies have filed notices of intention to appoint administrators.
This action was made necessary by a number of developments. Last week, it became clear that the process which has been underway to identify a purchaser for the Club likely would not be productive over the near term, despite the number of negotiations with credible parties. Because the COVID-19 pandemic has had a severe impact on the revenues and profits of all of its businesses, the Club has been unable to service its day-to-day financial obligations. The directors had no choice but to make the tough decision to take this action and protect the Club.
The irony is that the Club’s financial forecasts show the emergence of a financially sustainable picture. Absent the COVID-19 pandemic, we undoubtedly would have been able to trade through.
However, the impact of COVID-19 pandemic and the unpredictability it has created represents too much of a strain. As the COVID-19 pandemic and lock down tightened their grip, the Club’s revenues and cash flow took a circa £20 million hit. ‘
Ah, just saw the other thread. Feel free to nix in the bud admin. Apols.
Comments
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Creditors will get shafted and Derby County will emerge from the ashes like a shit faced Phoenix as if nothing ever happened.7
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The only consolation is Southall can’t get involved as he’s about to be tied up with Rochdale0
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Maybe the dentist will see this as an opportunity to expand his practice3
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I feel sorry for their fans but as for the owners, they’ve rolled the dice and it’s backfired. Paying £10m for Belik, the dodgy sale of the stadium and dodgy deal for Rooney. Terribly mismanaged, they’ll be in league 1 next season.2
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I'm currently watching East Midlands today, they have just said Derby look as though they may be deducted a total of 24 points! 12 for admin and 12 for financial irregularities.1
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I don't believe the EFL will double punish them. They should.....but I really can't see it.Redmidland said:I'm currently watching East Midlands today, they have just said Derby look as though they may be deducted a total of 24 points! 12 for admin and 12 for financial irregularities.0 -
they won't do, they'll just ask them what they fancy being deductedgolfaddick said:
I don't believe the EFL will double punish them. They should.....but I really can't see it.Redmidland said:I'm currently watching East Midlands today, they have just said Derby look as though they may be deducted a total of 24 points! 12 for admin and 12 for financial irregularities.0
