The Saga : That is Derby County in Administration

[Ericsladkilnhurst]

Could the Derby County takeover saga becoming to a end ?

The administrators Quantama have named Chris Kirchner as preferential bidder, after his
bid was accepted for the club.
Kirchner put in a bid before Christmas for Derby County, but then pulled out & turned his
attention to another championship club.

[ Kirchner turned his attention to championship club Preston North End, but his bid to buy
the club came to a end last week, after parties could not reach a agreement ].

So Kirchner turned his attention back to buying Derby County Football Club.
With Quantama naming Kirchner has the preferred bidder for the club, in which Kirchner's
accountants will have exclusivity in accessing all the clubs confidential accounts, & give
Kirchner preferential status to complete a takeover of the club, which could take 2 months
at least.
Kirchner's accountants will study Derby County finances, which will then need further
negotiations with creditors, to clear the clubs debts.

Football creditors - [Must be paid in full , otherwise the EFL will impose a points penalty,
for the start of next season, with a 15 point penalty being mentioned].

The non football creditors - [Are likely to only get a proportion of what they are owed, the
EFL said at one point, that it had to be 25p in the pound].

HMRC - [Unlikely to accept greater reduced payments, on what they are owed].

Players registrations - Derby County sale to Kirchner will have to prove the agreement
provides financial proof, that the club can continue as an operating football club, if they
prove this, then the ban on player registrations at the club could be lifted.

Transfer payments to other clubs for players - Derby County bought Bielik from Arsenal
on a payment scheme, Arsenal froze the payments to help Derby County, so still a amount
owed to Arsenal, so the new owner picks this bill up.
Kamil Jozwiak was bought on a payment scheme & sold, whether Derby County paid the
outstanding payment on the player, nothing reported.

Companies House - Documents submitted to Companies House, show Derby County made
a loss of £1.2m during the first 2 months of administration.
Derby County officially entered administration 22 September 2021, points deduction 12pts,
plus later a further 9pts penalty for breaching financial fair play rules.

Companies House - Quantuma the administrators of Derby County, filed a report to companies
House, Quantuma estimate fees of £1.5m plus expenses £1.24m legal costs £1.1m

Mel Morris did say when he hired Quantuma, that he would cover the costs.

Pride Park - Derby County Football Stadium
The ground is not included in the sale, Mel Morris is open to Kirchner leasing or buying the
stadium from him, the ground being owned by one of Mel Morris other companies, but
Morris has a £20m loan on the ground.

Mentioned - Council buying the football stadium.

Interested parties - Been said that Mike Ashley still interested in buying the club.

One twist - Mel Morris could buy the club, through one of his other companies, in which
he would benefit.
This by only paying the 25p in the pound to ordinary creditors, so saving £15m on £20m
owed for instance.

Funny old game, is football.

I was asked to do a Derby County follow up.

[gm_gm]

Thanks for the update ELK

[avondalemiller]

...once again, it's a complete bag of worms...

[frogmiller]

Cheers ELK. I've loved watching their demise for some bizarre reason.
All the way back to the 80s I've hated them after a few of their fans were in the Tivoli end and smacked my mate and me!
I didn't know I had it in me to fight back as we tumbled down the terrace.

[Ericsladkilnhurst]

Here we have in Derby County FC a club not financially run correct, football creditors,
ordinary creditors, HMRC owed money.
EFL rule stating football creditors to be paid in full, ordinary creditors 25p in the pound,
HMRC having their own ruling.
But when a owner can put his business into administration [ Mel Morris owner of Derby
County FC ], & only pay the ordinary creditors 25p in the pound, then can buy back the
club through another one of his other companies, is totally wrong.
This to me could open the flood gates for other companies to follow suit.
The administration costs up to now on Derby County football club showing £3.84m
which Mel Morris is personally funding.
But if a figure of £20m is owed to ordinary creditors, they will get only £5m at 25p in
the pound, so Morris saves £15m, minus his administration fees.
Then he can buy back Derby County FC through one of his other companies.
One way of not paying debts, but what about the ordinary creditors, only getting a
quarter of what they are owed, which could plunge them into their businesses going under.

[BarnsleyWhites]

All about money these days and if the likes of Morris can’t make it legitimately, they’ll make it through stuffing someone else, in particular the regular suppliers to the club. It’s wrong but sadly not illegal. Sign of the times I’m afraid.

[Grist_To_The_Mill]

All about money these days and if the likes of Morris can’t make it legitimately, they’ll make it through stuffing someone else, in particular the regular suppliers to the club. It’s wrong but sadly not illegal. Sign of the times I’m afraid.

One of those shafted is the St Johns Ambulance Service to whom Derby owe money for the first aid support on match days

How low can you go ?

[flourbasher]

One of those shafted is the St Johns Ambulance Service to whom Derby owe money for the first aid support on match days

How low can you go ?

Avoiding paying the St Johns would have allowed them to pay a weeks wages to one of their free agent signings
Absolutely shameless

[Ericsladkilnhurst]

One of those shafted is the St Johns Ambulance Service to whom Derby owe money for the first aid support on match days

How low can you go ?

Avoiding paying the St Johns would have allowed them to pay a weeks wages to one of their free agent signings
Absolutely shameless

That low, St John Ambulance becomes the stretcher case casualty

[clarkey1974]

Looks like Derby will apppint former Man City CEO Garry cook as their new CEO…he’s hardly charisma personified probably a right fit for derby…