Fascinating listen about Derby on Talksport

Discussion in 'Bulletin Board' started by Cunning Stunt, Sep 23, 2021.

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  1. Redhelen

    Redhelen Well-Known Member

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    I don't get why they get away with paying all football debts in full, every other business has to be equal with its creditors
     
    Redhelen, Sep 23, 2021
    #21
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  2. Mid

    Mido Well-Known Member

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    The problem Derby have is that whoever buys the club needs to pay 2 massive bills in full:
    ~£25m to HMRC
    ~£10m in ‘footballing debts’

    They’re not going anywhere fast until they’ve done that.

    Then they have to pay 25 pence in the pound to all other creditors or else they get lumped with another points deduction.
     
    Mido, Sep 23, 2021
    #22
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  3. Mid

    Mido Well-Known Member

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    It’s an EFL rule and they won’t give them their place in the league if they don’t do it. It was challenged, and failed, in court a couple of years back. HMRC are guaranteed their money.
     
    Mido, Sep 23, 2021
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  4. ley

    leythtyke Well-Known Member

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    That's a hell of a lot of money for what could be a league 1 club. It took Wigan best part of a year to find a buyer, and they only need £3m, with the stadium thrown in.

    Wouldn't surprise me to see the admins use the tribunals and appeals available to delay any further points deductions / appeal the 12 points, just to keep buyers interested.
     
    leythtyke, Sep 23, 2021
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  5. Mid

    Mido Well-Known Member

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    Absolutely, they're in a dire situation. A football club only really has 3 assets: 1) Staff (ie, players to sell on) 2) Facilities (stadium, training ground etc) and 3. The brand (including the league that they are playing in). Their squad is full of journeymen on short contracts worth very little, they don't own their stadium and although they have a good brand historically, that won't be worth much in League One. Unless Mel Morris puts his hand back in his pocket to sort his own mess out, I'm struggling to see how they survive this at present. If he decides he wants 25% of what he's 'owed' by the club from the money he's put in, that could pile on top of the ~£35m a buyer would need to find. You're potentially looking at £50m for a League One club.
     
    Mido, Sep 23, 2021
    #25
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  6. Merde Tete

    Merde Tete Well-Known Member

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    First and foremost, it's to stop them defaulting on transfer fees owed. So it's to protect other clubs, which actually seems fair enough. Otherwise nobody would have any confidence in the transfer market.
     
    Merde Tete, Sep 23, 2021
    #26
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  7. Men

    Menai Tyke Well-Known Member

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    Have the right sized ones turned up now. Think I heard a story that the first electronic ones had been too big or something.
     
    Menai Tyke, Sep 23, 2021
    #27
  8. Jud

    Juddy G Well-Known Member

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    Leccy scoreboards ?
     
    Juddy G, Sep 23, 2021
    #28
  9. Cod Eye

    Cod Eye Well-Known Member

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    They don't "have" to pay the football creditors in full if they don't want to. It's just if they don't, they will lose their place in the Football League.

    It's one of the reasons the players are often happy to accept a large portion of their wages deferring, because if the club actually goes titts up, they are fighting for pennies on the pound with all the rest of the creditors.
     
    Cod Eye, Sep 23, 2021
    #29
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  10. lk3

    lk311 Well-Known Member

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    Think current owner has cited the uncertainty about penalties being part of reason unable to find a buyer
     
    lk311, Sep 23, 2021
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  11. YT

    YT Well-Known Member

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    News to me!

    But time will tell. Lots of stuff planned.
     
    YT, Sep 23, 2021
    #31
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  12. Durkar Red

    Durkar Red Well-Known Member

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    Leicester did it
     
    Durkar Red, Sep 23, 2021
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  13. Did

    Didcot Red Well-Known Member

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    A limited company is a separate legal identity. The directors act as the company's "brain". If a limited company becomes insolvent it has to appoint administrators to act in the best interests of the company's creditors and if possible restructure the company so it can continue to trade solvently. If this fails the company is then wound up with the assets sold to pay as much as it can to the creditors. It is at the his stage that a new limited company could be formed and buy up assets and pick up the trade of the former company.

    Isn't that what happened when we entered administration?
     
    Didcot Red, Sep 24, 2021
    #33
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  14. Brush

    Brush Well-Known Member

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    Yes and it was because of their "administration" that clubs now get the 12 point penalty. They royally took the pi55.
     
    Brush, Sep 24, 2021
    #34
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  15. Sim

    Simon De Montforte Well-Known Member

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    I think people forget that its not long ago we were in admin. Different reasons but admin all the same with local businesses losing out massively. The companies owning BFC have changed a few times since then. Weren't we Barnsley FC (2002) at one stage. I haven't a clue what our parent company is now but Derby will do the same as we did ie new owners will retain their name and start again.
     
    Simon De Montforte, Sep 24, 2021
    #35
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  16. Redhelen

    Redhelen Well-Known Member

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    As long as they get a buyer. A lot of football debt to settle first and then 25p in the pound to their other creditors
     
    Redhelen, Sep 24, 2021
    #36
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  17. Dub-Tyke

    Dub-Tyke Well-Known Member

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    The temporary perimeter advertising boards used for the Chelsea game last season looked great tbf. Looked professional and were very effective.
     
    Dub-Tyke, Sep 24, 2021
    #37
  18. tosh

    tosh Well-Known Member

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    Why, what were they advertising?
     
    tosh, Sep 24, 2021
    #38
  19. BrunNer

    BrunNer Well-Known Member

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    Club shop tax disc holders.
     
    BrunNer, Sep 24, 2021
    #39
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  20. Dun

    Duntpasstome Well-Known Member

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    I remember thats why youre going down and we ll never play you again. Funny old game.
     
    Duntpasstome, Sep 24, 2021
    #40
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