League 1 it is then

[DCFCArmy]

Taken from today's Derby Telegraph:
In an Administrator's progress report posted yesterday [Thursday] Quantuma confirmed the preferred bidder status of Kirchner.
The report also showed MSD Holdings have lent a further £3.5m to 'facilitate the continuation of trade during the Administration Period' taking the total owed to £24m.
Commenting on the latest report on Twitter, football finance expert Kieran Maguire says the HMRC total claim against the club is £36m, up from £28m, and administration costs are "substantially" higher than original estimates. He adds that factoring in legal and other expenses the total is looking at £3.5-£4m.

All clubs are in debt and it never gets paid back ever, all clubs owe about a trillion it’ll never get repaid, football is a big Ponzi scheme hiding under the illusion of wealthy owners

Man United and Burnley go look them up, neither were brought out with their owners cash, they were brought out by the clubs own cash flow ffs, Neither if their owners have ever spent a penny of their own money because they don’t have any

[Geoff Parkstone]

probably end up at 4 million

[ramAnag]

probably end up at 4 million

Justifiable?

[Geoff Parkstone]

How long is your piece of string? How often do you compare your string to others?

Looks like is all based on hours, with a blended time cost of around 350 quid an hour. Not sure how much Q will discount the chargeable hours by? Legal costs on top of this of course - the 350k for challenging the automatic administration penalty looks money well wasted

But in a world where Ronald-o earns a million a week, then the reality is, the administration cost is cheap as chips. Then again chips arent cheap either

[ramAnag]

How long is your piece of string? How often do you compare your string to others?

Looks like is all based on hours, with a blended time cost of around 350 quid an hour. Not sure how much Q will discount the chargeable hours by? Legal costs on top of this of course - the 350k for challenging the automatic administration penalty looks money well wasted

But in a world where Ronald-o earns a million a week, then the reality is, the administration cost is cheap as chips. Then again chips arent cheap either

£350 an hour?!

Footballers’ wages are abhorrent to me too...but at least such individuals have talents which are bordering on the unique.

£350 an hour...for what? Being able to count, but apparently not problem solve.
I’m not sure how you work out people’s worth. I’m honestly not being personal but I do believe that people such as teachers, nurses, health and social workers etc do provide a more valuable service than those in your line of work. As for ‘Q’...are they not entirely parasitic and not very good at what they do either.

[Geoff Parkstone]

I am not going to waste my time and yours debating the relative cost-benefits of different professions: society and the open market will dictate that. Its all relative to need and timing, and the scarcity of the resource. I can often charge more per day than you used to earn in a week, but then I dont get employed every day. When my bin is overflowing and running with rats, a teacher is worth little to me: does that mean a binman merits more money than a teacher?

NB 350 is the blended rate per hour of all staff on the assignment, not the top rate of the highest paid.

As a rule of thumb one third of an accountants charge out rate is for salary, 0ne third for overheads/non chargeable staff and one third for profit. eg a staff member charged at 350 an hour would be on maybe 200k per annum salary. Not excessive in a market os scarce supply and growing demand.

What is taking the piss, though, is recharging a quid or two here and there for coffee or sandwiches

[ramAnag]

Fair enough. I just don’t know what accountants do that makes them worth that sort of money and personally...yes I do believe bin men make more of a difference to my quality of life than any accountant I’ve met. I’ve never ever needed an accountant...I do need bin men on a weekly basis.

Not sure who you’re referring to when you mention ‘rehanging a quid or two here for coffee or sandwiches’ but I’m not going to fall out with you about it...I’m just puzzled about what you think you offer that makes your professional so special. You just seem to understand the rules of a ‘game’ that frankly society can largely do without.

[Geoff Parkstone]

First paragraph, I agree - you only value the worth of someone else when you need them, and no two people will share that sense of value to the same level, or at the same time. If you've never needed that skill, as you clearly havent for an accountant, then you wont understand the needs of the job nor the relative worth. Some people can see the value in others, you clearly have selective vision in that regard.

The comment you didnt understand is in relation to a little snippet I saw in the administrators report where they mention that they have "unpaid claims for subsistence expenses of £ 1-34" against, IFIRC, "Stadia" and some other trivial claims against some of the other 6 entities in administration. At £ 350 an hour you'd hope they bought their own crisps!

Why are "my skills" such that they demand a higher reward? Don't know, always have been, hopefully for a few more years they will continue to be. No different to lawyers or similar business related professions I guess. Its supply and demand. As the great George Bernard Shaw put it - those that can, do; those that can't, teach

[ramAnag]

First paragraph, I agree - you only value the worth of someone else when you need them, and no two people will share that sense of value to the same level, or at the same time. If you've never needed that skill, as you clearly havent for an accountant, then you wont understand the needs of the job nor the relative worth. Some people can see the value in others, you clearly have selective vision in that regard.

The comment you didnt understand is in relation to a little snippet I saw in the administrators report where they mention that they have "unpaid claims for subsistence expenses of £ 1-34" against, IFIRC, "Stadia" and some other trivial claims against some of the other 6 entities in administration. At £ 350 an hour you'd hope they bought their own crisps!

Why are "my skills" such that they demand a higher reward? Don't know, always have been, hopefully for a few more years they will continue to be. No different to lawyers or similar business related professions I guess. Its supply and demand. As the great George Bernard Shaw put it - those that can, do; those that can't, teach

Old chestnut! He’d obviously never met any advisors...and very few politicians.

But seriously...how can Q, who I’m imagining are glorified accountants at best, justify £350 per hour which I had no idea they were charging until you dropped that into the mix. Isn’t that just guaranteed to make DCFC’s situation worse and encourage Q to take their time reaching a resolution?

What’s the difference between an accountant and an angry rhino? The accountant charges more.

[MadAmster]

HMRC - if they accept CKs 35% offer they'll get £12.6M.

Do Administrators get the full whack or would Quantuma also get 35%?