Matchday Thread: Cov v Rams

[StensonRam]

I was going to say that yesterday, we're in debt any money made already accounted for

[MadAmster]

And if we'd made any money on a cup run, it wouldn't benefit the club very much, but would just go to the creditors....

... or would it go on current running costs like wages etc?

I might be wrong but aren't existing creditors getting nothing until a CVA (if that's the right acronym) has been agreed?

If I'm wrong an explanation of how it DOES work would be greatly appreciated. TIA.

[MadAmster]

My illegal world wide package was suffering server problems yesterday so I was forced to scan the net for a stream. Eventually found one that worked, Sport TV 2 Portugal. The Radio Derby commo from dcfc wasn't working so I had the pleasure of Portuguese commo. The screen froze 5 times in the opening 20 minutes but not after that in the 1st half. Just the 2 stops in the 2nd half. Only heard the Coffintree fans in the aftermath of their goal. Another header from a man unmarked inside the 6 yard box...... The refereeing wasn't brilliant, however, but I do think it was one of Madley's better games reffing us. Not a hard task though, is it? One thing that occurred that typifies Madley when he's reffing us. Festy beats player one, puts the ball past player two who fouls him, Festy stays on his feet thanks to doing a pirouette and goes after the ball, doesn't get it and stops prior to going through the Cov player who goes up and over Festy. Ref gives a foul against Festy having totally ignored the foul ON him 2 seconds earlier. Festy's youth and Irish temperament get the better of him and he is straight in Madley's face screaming whatever at him. If, as I suspect, he was booked for screaming in Madley's face rather than the "foul" then there are no arguments from me apart from that the booking was deserved AND we should have had the free kick.

Festy, did a lot of good going forward BUT all too often no end product and it's not the first time either.

Rav and Loz drifted out of the game more often than they drifted into it.

I think today's tactical conclusion confirms what I, and others, have said on Rooney's near and mid term future. It's completing his apprenticeship at Derby. Anybody worrying that he might interest MU or Everton in the next few months can rest easy. He shows potential but is nowhere near ready to mix it with the big lads just yet.

Looking at the game overall I can only compliment the Sky Blues. Once they started their high press after about the opening 15 minutes and kept it up till the end, they simply stopped us playing. No time on the ball, no outlets, no chance. Just the 2 shots on target for us. A long range shot early doors from Loz which was well parried by their keeper and a 2nd half shot from about 15 yards out again well saved. 7 shots from each side. One of ours was a late header from Allsop, our keeper which says a lot about our final third play. Their goal was their one shot on target.....

The crowd were treated to just 14 shots all game, that's one every 7 minutes if you include time added on. Of those 14, just 3 were on target. One every half hour. Basically two sides that nullified one another meaning not much was created.

Post match Rooney said "We need to be clinical. That's all we were missing. But, performance wise, we were excellent." - for once I have to disagree with him..... unless of course the game plan was possession for possession's sake in the hope of boring Coventry to death..... and even then it failed.

We finished the game with 3 attackers on the park, Baldock, Stretton and Plange with Curt also staying up and then Allsop's little header in extra time.

We need to create more. We're not letting many in but we've scored one less than we've conceded. That has to change if we are to have a chance of the Great Escape.

We entertain Sheff U on Saturday. I hope the eejits don't have another go at Sharp or you can guarantee the little sod will score again. It's a game we need to win.

One week later it's the trip to the Red Dogs. Recent history demands another 1-1 but we need to win it.

The week after it's the Blue Noses and that's another game we can win.

Onwards and upwards.

[ramAnag]

Would have got Southampton away. Little chance of progressing, not much money to be made and a sidetrack we can do without imo.
Quite like Forest to beat Arsenal and get a little sidetracked themselves. Doesn’t seem that unlikely as things stand.

[StensonRam]

F me Arsenal are €hit, if Forest don't win this somethings wrong, they're being gifted chances and still they don't want to score, it's who can be the crapest

[StensonRam]

Pretty sure even we could have beaten arsenal had we got them instead of cov

[MadAmster]

Trees got away with a defo penalty first half. Might have got one themselves 2nd half with some refs. Arsenal weren't really at the races.

[Geoff Parkstone]

... or would it go on current running costs like wages etc?

I might be wrong but aren't existing creditors getting nothing until a CVA (if that's the right acronym) has been agreed?

If I'm wrong an explanation of how it DOES work would be greatly appreciated. TIA.

MA, there may not necessarily be a CVA, but rather deals could be worked with large creditors to support a sale of the business and a continuation of it under new ownership. Smaller "rotational creditors" would then get paid in full (albeit delayed) and the business would return to the control of new directors

Administrators have a number of options:

1. To negotiate a Company Voluntary Arrangement (CVA) so the company can keep trading
2. To sell the business as a ‘going concern’ to another company - meaning the business can carry on, eg by keeping its clients, workforce or orders
3. To sell the assets as part of a creditors’ voluntary liquidation, pay creditors from any money raised and close the company
4. To close the company if there’s nothing to sell

At the moment it looks like they are doing #2, but also dealing with option #1. Either option allows DCFC to survive as is.

Option 3 and 4 do not allow survival in current form

During administration there is protection from legal action, so Boro and Wycombe are estopped from actually taking legal action, as would any legitimate creditors be estopped. Problem is of course that if the claims of Boro and Wycombe are not dealt with now, then as soon as the administrators hand the club back to new owners, the protection from legal action goes away and the opportunist claims can come back to haunt the new owners.

During the administration wages and overheads will need to continue to be paid (or compromises agreed) but in effect any gain that may be made from a cup run will benefit the creditors by increasing the pot available for a CVA or other deals. I'm struggling to see a scenario where the club could make a capital investment into a player when under administration as it would be hard to prove that such investment would be best for the creditors.

[MadAmster]

Thanks GP.

[Andy_Faber]

Thanks GP.

IMO the ace card ‘the club’has is that, unless MM hands over the ground, the financial outcome for creditors looks to be better if a or b or enacted than c or d and I guess the admins are proceeding on that basis.