Anyone with a commercial bent would be doing EXACTLY that, although the suggested transfer embargo may still put investors off - they may in fact argue the price down further based on future incomes in, for instance, League 2
Okay so it’s clear now that with official administration looming and the obvious points deductions and baring a miracle demotion to league one, anyone that was interested in buying our beloved club pulled out knowing that they could pick up again at a much reduced price as soon as all the sanctions etc….. were official!
MM may have put a price on the Rams (let’s say £100m) but knowing what was coming and now probably being able to take the club over for less (let’s say £25m) now the administers are in charge why would anyone ever purchase it earlier?
I just hope that this is why we are in such a mess and we can put this whole sorry mess behind us sooner rather than later!!
Anyone with a commercial bent would be doing EXACTLY that, although the suggested transfer embargo may still put investors off - they may in fact argue the price down further based on future incomes in, for instance, League 2
I'm not sure we're worth diddly squat rA!
The Training Ground and PP are hocked out and are security for the loans, we probably own a few pens and the odd desk which just leaves the players who are worth nowt until January and they can then be picked up for a used condom!
To say I'm pi$$ed off with Mel and his f***ing ego trip is an understatement, I could personally slit his f***ing throat and I'm a normally calm and laid back bloke. Like many I had hoped to see us in the PL and hopefully establish the club there! Bearing in mind my advancing years that wish was likely to be on a limited timeline with the grim reaper itching to pay a visit so a lengthy spell in the lower regions of the pyramid is going to be a real bummer!
Oh well, twas ever thus!
rA, not sure about the ownership status of PP or the training ground, GP may well enlighten us on that, he's usually across such stuff
Any prospective owner won't be looking at the 'capital assets' of the enterprise (stadium, training ground, players) only, they'll be looking at ongoing costs and revenues and if tey have their heads screwed on right they will have someone or some entity poring over various scenarios (Championship v League 1 being the most obvious) and calcing the costs (player salaries, admin salaries, ground and training ground rent blah blah) and revenues (tickets, RamsTV, Sky) to see if there's any chance of a return on their investment. I've done such work ('due diligence') many times in business (other peoples' and my own) but never regarding anything as volotile as football. The daily cash requirements for such a business are mind-boggling
Given that Ipswich Town managed a takeover even though in league 1, not that things are going well with them at the moment, relegation would not be the issue.
However, the tangled web of ownership of the assets and the various loans would take some unpicking. My view is that Mel has clearly avoided putting too much of his own cash in, hence the loans and various entities that own the ground, the training facility etc. and we are where we are because he was unwilling to guarantee to the EFL that he would finance the club for the rest of the season.
I don't doubt some of his own money has been spent, there is something very odd about how the club has been run.
Unless one is buying a revenue generating organisation like manure, then owning any football club is a sure way to get a small fortune, its just you need a large fortune to own and run it in the first place!
Last edited by swaledale; 18-09-2021 at 10:40 PM.
All couched with an "I understand" basis.
The ground is (or at least was when last seen) hived off into a seperate company owned by MM but not in the grouping that owns the club and the academy plus others. It is the latter that may head for administration. As such the ground is still in the clear but the ground has been mortgaged to secure debt: initially Gabay and then MSD.
I assume that this was to secure funding put into the club sub group, but have heard it suggested that it was to secure funding to MM to but the ground. I'm not convinced by the latter argument because I thought that was done via clearing amounts already due to MM due to earlier funding.
I assume MSD are the primary creditor whose debt service cost is involved in the administration, and so this debt may be secured on the ground. HMRC whilst preferred, will be unsecured.
So if I am the big secured creditor who isn't getting paid, I'd look at the ****storm that is the club and think, hmm I'll crystallise the charge on the ground and get it sold.
As far as I'm aware the academy grounds are rented, so we can't have secured that, except in a rather nebulous group cross charge manner, except for a few sheds we may have put up.
But until it happens and we see which companies are to enter admin, speculation is perhaps a little previous.
But none of it's good. Probable scenario is that we will end up a homeless club with a poor squad destined for the lower reaches of the pyramid. Much like the Florists then
But none of it's good. Probable scenario is that we will end up a homeless club with a poor squad destined for the lower reaches of the pyramid. Much like the Florists then
How rude!
Having listened to the interview it does appear potential buyers were all sitting back and waiting! Hopefully they are still all interested still and put a bid in ASAP!
He also said that, following the announcement of admin, there had been offers over the weekend. I wasn't sure if he said 15 or 50. 2 or 3 of those looked serious, he said.
One of the new bids was form a Canadian firm who had tried before. Their proof of funds was on a bank statement from a bank that doesn't exist yet they still decided to bid again... wasters.