Admin looming

[macstheman]

Club statement blames everybody and Covid but not the Board or Mel!
A bit of humility wouldn't go amiss! Mel says he's gutted! I suppose all those small business owners who have lost thousands because of this are sleeping peacefully tonight Mel!!
How many times one asks, how many times. Where's Jeremy Keith I wonder??

[Rattea]

Don't let fans run clubs it always ends this way!

We were doing fine under the Americans and Clough but the fickle impatient know it all's knew better. Now look. Well done!

[ramAnag]

Don't let fans run clubs it always ends this way!

We were doing fine under the Americans and Clough but the fickle impatient know it all's knew better. Now look. Well done!

Rats...I was thinking about you when all this kicked off last night - and that’s never happened before!
Have to say...thinking back about six years or so ago you, and the much missed Ella I think, did make the same point.
You were right, I was wrong...not about Clough...he was long gone before MM took over and has had very limited success anywhere else since...but your forecast about MM was sadly all too accurate.

P.S. As mac and GP say...this has got nothing to do with Covid...every club in the country has been impacted by Covid...every club in the country isn’t in the same mess as us.

[Trickytreesreds]

Right, I've got a question here.

A few weeks ago, NFFC bid around £1.5M for Buchannan.
MM turned it down and now DCFC are heading into admin.

How could he refuse that deal?
Something smells fishy here?
Does this now mean a fire sale in January?

[swaledale]

Rats...I was thinking about you when all this kicked off last night - and that’s never happened before!
Have to say...thinking back about six years or so ago you, and the much missed Ella I think, did make the same point.
You were right, I was wrong...not about Clough...he was long gone before MM took over and has had very limited success anywhere else since...but your forecast about MM was sadly all too accurate.

P.S. As mac and GP say...this has got nothing to do with Covid...every club in the country has been impacted by Covid...every club in the country isn’t in the same mess as us.

Do you like responding to a ghost account rA? It isn't rat posting but hey ho!

Not sure what Clough has got to do with it, and seeing as apparently he was a good manager, its odd he hasn't been a roaring success anywhere else isn't it?

As for Mel Morris, well I have said before the guy tried to buy himself fame with Derby, but it seems isn't prepared to shoulder the losses which his reign has incurred, if he loved the club it wouldn't be going into administration, but I predicted thats what would happen and it has.

Frankly the financial and operational mismanagement over the past few years since Mel has been in charge is staggering.

[macstheman]

I think a fire sale is inevitable Tricky!
TBF, as we will be going down anyway then it's pretty irrelevant to our dire situation, in simple terms the Administrators job is to do their best for creditors and DCFC and it's long suffering fans will have to suck it Up! As well as wrecking our club Mel has inevitably destroyed the youth system he was always spouting was his 'baby'! Well, that's just another one of his hoped for legacies that we can all look back on and vomit!
As Swale says, his mismanagement has achieved staggering levels and it could take another decade or even longer for us to recover.
There won't be a MM Statue outside PP Mel, it'll probably be another Tesco!

[Geoff Parkstone]

Right, I've got a question here.

A few weeks ago, NFFC bid around £1.5M for Buchannan.
MM turned it down and now DCFC are heading into admin.

How could he refuse that deal?
Something smells fishy here?
Does this now mean a fire sale in January?

If an administrator is appointed (it's still only a Board intention I believe) then the administrator will sell assets to raise cash to pay off MSD and preferred creditors creditors like HMRC. This would doubtless involve selling any player of any value, and, I imagine, as there are charges on it, the ground: even if the club doesn't own it.

In a perfect world, from a fan perspective, the ground would go not the players that we want to keep. I assume in this that the leaseback on the ground is bullet proof as to period and rent. Would be interesting to see it the ground raises the 80m it was worth 2 years ago if it gets sold on an arm's length basis.

So maybe a fire sale yes. As for Buchanan sale, in the period running up to administration this would probably be unwise as there could be a question of preference as to what the money is used for. Certainly in a liquidation the liquidators can go back 6 months and potentially question or even void transactions, so possibly in administration too?

Would be fun if the Florists has bought and paid for him, then the sale voided and Florists only get 25p in the pound back of the fee. Would almost make it worthwhile - nah, maybe not

[Andy_Faber]

Do you like responding to a ghost account rA? It isn't rat posting but hey ho!

rA (who needs convincing on this) and the rest of the board (who I don't think do), this IS Rattea, my mod account allows me to tell.

Make your own judgements on Swale's general state of paranoia on this and all subjects

[ramAnag]

I don’t really know, or care, if it’s Rats or not. Don’t see why anyone would pretend to be someone else or why anyone would be paranoid about it. Either way, sadly he and the doubters were right and I was wrong. A part of me still feels sorry for Morris. He had the best of intentions but he and his ‘crew’ have sure as hell ****ed up massively and now we’ll all pay the price.

[claw84]

What I don't understand is why no one has come in to buy your club, during the Summer 2 Hollywood stars came in and bought Wrexham, your club would have been far more attractive, As a Millwall fan we have been through this too, however the Championship will be the poorer without the Rams in it.