Totally agree with the Wycombe owner & is what we should have done when we got relegated instead of Sheff Wed.
Interesting to read what Mel Morris has got to say, esp around the possible points deduction last season for filing the wrong accounts. How can he justify it by saying that Derby were waiting to see what the EFL thought. You simply publish your accounts as they should be done.....like the other 91 clubs do.
I really wish the EFL throws the book at them & punish them for EVERY charge that they were up for. However, like a serial killer I expect they will only get concurrent sentence rather than a consecutive one.
Just been announced on 'East Midlands Today' that Administrators have moved into Pride Park as Derby go into admin. They are saying immediate 12 point deduction BUT it looks very likely a further 9 point deduction will happen due to previous financial irregularities! So a total of 21 points, potentially spread over 2 seasons.
Going on what I was reading on the link Henry provided just above, I do wonder whether Derby County will actually come out of this. £50 million is a big bill to pay upfront for any prospective buyer and that only covers unavoidable debts. Ongoing costs must also be massive. Could Derby County be the first “big” club to fold ?
1. They need to find 50m to cover their debts to come out of administration? 2. Despite the football club being in an absolute mess, Morris quite cleverly now owns the stadium for which he will either want to sell or be paid rent for?
So someone coming in will have to front up 50m just to effectively start from scratch, and then on top of that fund the club and on top of that not own the stadium.
Is that all correct? It might not be, just not completely sure.
1. They need to find 50m to cover their debts to come out of administration? 2. Despite the football club being in an absolute mess, Morris quite cleverly now owns the stadium for which he will either want to sell or be paid rent for?
So someone coming in will have to front up 50m just to effectively start from scratch, and then on top of that fund the club and on top of that not own the stadium.
Is that all correct? It might not be, just not completely sure.
They have separated the club from the ground? Recipe for disaster, hope we never do anything like - oh wait, no, never mind.
Going on what I was reading on the link Henry provided just above, I do wonder whether Derby County will actually come out of this. £50 million is a big bill to pay upfront for any prospective buyer and that only covers unavoidable debts. Ongoing costs must also be massive. Could Derby County be the first “big” club to fold ?
On the face of it, it is very likely.
However..... What's the loan secured on? Who actually owes the tax and what tax is it?
There isn't really much left to administer, much like what would have potentially happened to us last summer.
Fortunately the administrator is of impecible character.......
The football club don’t own the stadium. Is there and do they own a training ground ? Then there are the players who are assets assuming they don’t walk due to non payment. What else would be of value in liquidation ?
The football club don’t own the stadium. Is there and do they own a training ground ? Then there are the players who are assets assuming they don’t walk due to non payment. What else would be of value in liquidation ?
The playing assets Derby have are a few talented youngsters. Most of their squads are short contract free transfers and journeymen
It's still shocking when you think of the playoff final in 2019 vs Villa, which was a sliding doors moment for both sides. If Derby had gone up, Villa would be the ones facing financial disaster now (or earlier)
The football club don’t own the stadium. Is there and do they own a training ground ? Then there are the players who are assets assuming they don’t walk due to non payment. What else would be of value in liquidation ?
The playing assets Derby have are a few talented youngsters. Most of their squads are short contract free transfers and journeymen
It's still shocking when you think of the playoff final in 2019 vs Villa, which was a sliding doors moment for both sides. If Derby had gone up, Villa would be the ones facing financial disaster now (or earlier)
Comments
Interesting to read what Mel Morris has got to say, esp around the possible points deduction last season for filing the wrong accounts. How can he justify it by saying that Derby were waiting to see what the EFL thought. You simply publish your accounts as they should be done.....like the other 91 clubs do.
I really wish the EFL throws the book at them & punish them for EVERY charge that they were up for. However, like a serial killer I expect they will only get concurrent sentence rather than a consecutive one.
I suspect he spends more on a decent night out.
Can't access the whole article but £50m debt they can't dodge via admin (10m football, 20m tax 20m secured loan)
So seems like a buyer has to find that just for starters and then buy the ground, fund the team etc.
I wouldn't be surprised if he had asked what he could do and was old this is the best way to help
So a total of 21 points, potentially spread over 2 seasons.
1. They need to find 50m to cover their debts to come out of administration?
2. Despite the football club being in an absolute mess, Morris quite cleverly now owns the stadium for which he will either want to sell or be paid rent for?
So someone coming in will have to front up 50m just to effectively start from scratch, and then on top of that fund the club and on top of that not own the stadium.
Is that all correct? It might not be, just not completely sure.
However..... What's the loan secured on? Who actually owes the tax and what tax is it?
There isn't really much left to administer, much like what would have potentially happened to us last summer.
Fortunately the administrator is of impecible character.......
https://www.accountancyage.com/2012/05/04/hacker-youngs-andronikou-severely-reprimanded/amp/?__twitter_impression=true
It's still shocking when you think of the playoff final in 2019 vs Villa, which was a sliding doors moment for both sides. If Derby had gone up, Villa would be the ones facing financial disaster now (or earlier)
Surely we must know someone who's interested?