New Buyer Progress

[Geoff Parkstone]

Winviz is going back up into the 80's, things looking gloomy. trouble being as our league position slides, the purchase price slides but the debts dont. Thus the 100% football creditors, 25% all other creditors comes under increased pressure. if its League 1, it looks like League 1 minus 15 now

[swaledale]

Winviz is going back up into the 80's, things looking gloomy. trouble being as our league position slides, the purchase price slides but the debts dont. Thus the 100% football creditors, 25% all other creditors comes under increased pressure. if its League 1, it looks like League 1 minus 15 now

Except for one thing, we were "odds on for relegation" with a 21pts deduction, so what's changed for any bidder? In fact as we seemed to be within touching distance of a miraculous escape, surely the impetus would be for a potential buyer to do it quickly and be able to strengthen the squad to further aid the possibility of escaping relegation?


So it seems therefore that it doesn't matter which league we are in, the only aim is to try and get the club as cheap as possible, but as has already been pointed out, Bury folded because no bid was acceptable to the creditors.

Whilst its true tat assets in terms of players are few and far between, non tangible assets such as the customer (fan base), plus the acquisition of the stadium would put any owner in the position of having a football club that had massive potential.

HMRC won't be bullied, the principle of not allowing clubs and other businesses to get away with none payment, would appear to be more important than actually collecting on the debt. So if no bid is acceptable, it will be liquidation and I actually think thats where this is heading.

[ramAnag]

Except for one thing, we were "odds on for relegation" with a 21pts deduction, so what's changed for any bidder? In fact as we seemed to be within touching distance of a miraculous escape, surely the impetus would be for a potential buyer to do it quickly and be able to strengthen the squad to further aid the possibility of escaping relegation?

That was precisely my point...and I simply don’t understand the motivation of any credible potential buyer to have not seized the opportunity
to cut a deal a month or so ago when the dual possibilities of escaping relegation and squad strengthening were much more likely.

I suppose it’s easy for us, non financially expert fans, to criticise the administrators. I’d like one of those who is more ‘in the know’ regarding the complexities of finance and accountancy, to explain what, if anything, they have achieved, other than probably lining their own pockets and seeing us slip deeper and deeper into the mire, since their involvement began last September.

[Andy_Faber]

That was precisely my point...and I simply don’t understand the motivation of any credible potential buyer to have not seized the opportunity
to cut a deal a month or so ago when the dual possibilities of escaping relegation and squad strengthening were much more likely.

I suppose it’s easy for us, non financially expert fans, to criticise the administrators. I’d like one of those who is more ‘in the know’ regarding the complexities of finance and accountancy, to explain what, if anything, they have achieved, other than probably lining their own pockets and seeing us slip deeper and deeper into the mire, since their involvement began last September.

Im neither defending the admins nor otherwise but from my time working in this very approx area in a corporate setting (Swale, do your worst son!), there is no limit to the amount of jerking about that buyers, creditors, local authorities blah blah can indulge in. Did your last house sale/purchase go perfectly smoothly? No? Multiply that aggro by 100 or more. Again, reflection either way on the admins, just setting the scene

[ramAnag]

Im neither defending the admins nor otherwise but from my time working in this very approx area in a corporate setting (Swale, do your worst son!), there is no limit to the amount of jerking about that buyers, creditors, local authorities blah blah can indulge in. Did your last house sale/purchase go perfectly smoothly? No? Multiply that aggro by 100 or more. Again, reflection either way on the admins, just setting the scene

I do wish you’d stop claiming parentage of Swale.

Take your point, though the last time I sold my house it did go fairly smoothly...we had a ‘preferred bidder’ within three days and it certainly didn’t take anything like seven months to make zero progress. If it had I’d have sacked those concerned, as I did 15 years ago when those concerned with the sale of my mother’s flat seemed to be about as useless as Quantuma over DCFC.

P.S. Just read GP’s response and I do appreciate his more informed perspective.

[swaledale]

That was precisely my point...and I simply don’t understand the motivation of any credible potential buyer to have not seized the opportunity
to cut a deal a month or so ago when the dual possibilities of escaping relegation and squad strengthening were much more likely.

I suppose it’s easy for us, non financially expert fans, to criticise the administrators. I’d like one of those who is more ‘in the know’ regarding the complexities of finance and accountancy, to explain what, if anything, they have achieved, other than probably lining their own pockets and seeing us slip deeper and deeper into the mire, since their involvement began last September.

rA I'm not sure your analogy with selling your house works - after all the only person who needed to be satisfied on the price was you (and possibly any mortgage company) - with the football club, there's multiple creditors, plus the companies with loans etc secured against the stadium etc. Very complex and even when or if a preferred bidder is named, it will be 12 weeks or more to complete the sale!

[ramAnag]

rA I'm not sure your analogy with selling your house works - after all the only person who needed to be satisfied on the price was you (and possibly any mortgage company) - with the football club, there's multiple creditors, plus the companies with loans etc secured against the stadium etc. Very complex and even when or if a preferred bidder is named, it will be 12 weeks or more to complete the sale!

Probably right. Although it was AF who introduced the analogy...I just ran with it, not very successfully.

I think my, admittedly inexpert point, was that...while the likes of GP, AF and yourself have a better (more professional) understanding of the role of the administrators, the view of most ordinary fans is that they were brought in to a) sort out all the aspects of alleged financial malpractice and b) secure the future of DCFC as an entity which is crucial to the well being of its supporters and the areas of Derby and Derbyshire.

From a layman’s point of view, and according to GP’s presumably more informed ‘winviz’ comments, they do appear to have failed, probably at great expense, on both counts.

[Andy_Faber]

Probably right. Although it was AF who introduced the analogy...I just ran with it, not very successfully.

I think my, admittedly inexpert point, was that...while the likes of GP, AF and yourself have a better (more professional) understanding of the role of the administrators, the view of most ordinary fans is that they were brought in to a) sort out all the aspects of alleged financial malpractice and b) secure the future of DCFC as an entity which is crucial to the well being of its supporters and the areas of Derby and Derbyshire.

From a layman’s point of view, and according to GP’s presumably more informed ‘winviz’ comments, they do appear to have failed, probably at great expense, on both counts.

Yes you’re right, the layman must be well pissed off, even those with a slight business insight like me are. The analogy is valid imo as it represents the inertia present at a much lower level