Interesting comments from the EFL......but all of their own making I fear. It's their rules they are playing to so if they think there is little transparency then change the rules to say that the EFL should be party to any discussions regarding changes to club ownership. I realise the "members" have to vote & agree to any changes to the rules but it would be a start to get proposals out there.
Also it seems ongoing funding (wages etc) is basically being paid for by loans which are secured on the ground.And interest is being added to this debt which has to be paid off by the incoming owner. So basically any new owner is currently paying for the "club" even though they don't currently own it. Bonkers. Bit like buying a house & having to pay the vendors mortgage from the time you put your offer in to the time of completion.
I predict Derby will still be in Administration when the season starts and "assurances" will be given that there will be sufficient funding for them to complete the season - because the loan company will be happy to keep funding their club as they will get paid at some point & EFL dont have the rules to stop it.
I am not sure the loans can be secured to the ground because they don’t own it. Do the Club own more than five players and a manager?
I'm not a lawyer, so take this with a pinch of salt, but from what I know of the rules around administration they're only allowed to do this because the ground doesn't belong to the club. An administrator can't run up additional debts for the club, because increasing the total debt reduces the proportion that each creditor gets paid of whatever they're owed. Effectively Morris is paying the funds out of whatever he eventually gets for the stadium.
Of course, increasing the debt secured on the stadium makes the club less attractive as a purchase, which makes it hard to see how the administrator is acting in the interests of the creditors here. And that's their legal obligation. But I suspect it would be hard for a creditor to prove that they'd lost money due to this wheeze, so in practice nothing will be done.
I can’t imagine how I would feel knowing I was going to lose a minimum of 75% of the money owed to me and seeing that before I get so much as a penny they are borrowing money to BUY players.
I think that a club with only five players and no ground is no longer a football club. The fixture list is out on Thursday. It is very sad to say, but the EFL need to call time
At this point, I don’t see any difference between the administrators and ESI. They’re going to take their fees for as long as they can, and when it all goes tits up they’ll tell everyone they tried very hard, but there were no realistic buyers, sorry.
I appreciate that it is terrible for the derby supporters but they should never be allowed into the fixture draw. I dont understand how a company in administration can be allowed to borrow money it is just devaluing the worth of its existing debt to other debtors. They should be allowed to go under now and form again I'm sure in a few years they will be back in the league
I can’t imagine how I would feel knowing I was going to lose a minimum of 75% of the money owed to me and seeing that before I get so much as a penny they are borrowing money to BUY players.
I think that a club with only five players and no ground is no longer a football club. The fixture list is out on Thursday. It is very sad to say, but the EFL need to call time
This.
I believe they will be able to recruit players but only out of contract ones. When we were (unbeknown to us) under a transfer embargo we could only bring players in to replace those going out. And Bolton when in Administration could only play the U18's. So it is possible to bring players in but very limited.
They still have Bielik. Surely, even his injury issues, he's their biggest financial asset, who can be sold to raise money to pay the wages. Indeed I imagine he's one of their biggest earners too
They still have Bielik. Surely, even his injury issues, he's their biggest financial asset, who can be sold to raise money to pay the wages. Indeed I imagine he's one of their biggest earners too
They still have Bielik. Surely, even his injury issues, he's their biggest financial asset, who can be sold to raise money to pay the wages. Indeed I imagine he's one of their biggest earners too
I'm pretty sure they still owe Arsenal about (reportedly) 8 million for him !!!
I can’t imagine how I would feel knowing I was going to lose a minimum of 75% of the money owed to me and seeing that before I get so much as a penny they are borrowing money to BUY players.
I think that a club with only five players and no ground is no longer a football club. The fixture list is out on Thursday. It is very sad to say, but the EFL need to call time
This.
I believe they will be able to recruit players but only out of contract ones. When we were (unbeknown to us) under a transfer embargo we could only bring players in to replace those going out. And Bolton when in Administration could only play the U18's. So it is possible to bring players in but very limited.
Selling Beilik won't be easy whilst they pay him. Unlikely to get same wages elsewhere with his injury record. If they stop paying him he can walk on a free.
Selling Beilik won't be easy whilst they lay him. Unlikely to get same wages elsewhere with his injury record. If they stop paying him he can walk on a free.
Bielik wants a move too, as the Poland manager doesn't think L1 is good enough to be considered for his squad
Selling Beilik won't be easy whilst they lay him. Unlikely to get same wages elsewhere with his injury record. If they stop paying him he can walk on a free.
Bielik wants a move too, as the Poland manager doesn't think L1 is good enough to be considered for his squad
If your most valuable player is so keen to leave that he'll take a wage cut to do so, that's normally not 100% a good thing. If your club's in such a mess that it's actually the nearest thing to good news that there's been for several weeks...
Selling Beilik won't be easy whilst they lay him. Unlikely to get same wages elsewhere with his injury record. If they stop paying him he can walk on a free.
How can you sell someone that you haven't fully paid for yet. They need to pay Arsenal the full amount before they can sell him - none of this "we'll sell him for £10m & give you your £8m from the proceeds" malarkey.
Any money borrowed by the administrators will be incredibly expensive - no mainstream lender would take the risk, so they would need to go to the nether reaches of the debt market, and the interest rate would be mind boggling
The only way I can see Derby putting out a team at the moment is to promote their entire U23’s to first team, and play them - if they did somehow complete the season, then they would no doubt be relegated to Lge 2 because their squad wasn’t good enough
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Of course, increasing the debt secured on the stadium makes the club less attractive as a purchase, which makes it hard to see how the administrator is acting in the interests of the creditors here. And that's their legal obligation. But I suspect it would be hard for a creditor to prove that they'd lost money due to this wheeze, so in practice nothing will be done.
Same goes for Stanley DePfeffel
Administrators running Derby County are seeking a short-term loan to pay the wages of staff for June.
The money would also be used to help put season tickets on sale for 2022-23 and sign players, although they are still subject to a transfer embargo.
https://www.bbc.co.uk/sport/football/61865768
Even I wouldn't buy one as things stand (if I supported Derby).
The adminstrators want to borrow money .... how on earth is this allowed! To put season tickets on sale and to buy players - under a transfer embargo.
Christ on a bike
I think that a club with only five players and no ground is no longer a football club. The fixture list is out on Thursday. It is very sad to say, but the EFL need to call time
Could even be from the non-existent taxi firm that advertised at Sheffield Wednesday - D Taxis.
I believe they will be able to recruit players but only out of contract ones. When we were (unbeknown to us) under a transfer embargo we could only bring players in to replace those going out. And Bolton when in Administration could only play the U18's. So it is possible to bring players in but very limited.
The only way I can see Derby putting out a team at the moment is to promote their entire U23’s to first team, and play them - if they did somehow complete the season, then they would no doubt be relegated to Lge 2 because their squad wasn’t good enough
Total basket case of a club