If Covid is the main reason as the statement makes out I'd expect to see half the league going into administration, because we're hardly the only ones with large wage bills and no income. If that were to happen we might survive, even with a -21 deduction if half the other teams get -12.
However I think we know it wasn't.
Feels like a perfect storm of factors but I think the EFL have played a starring role in it.
They'll never kill our club though even if we get kicked out of the league. Still we rise.
Derby Till I Die.
PS Could we share grounds with DCCC 🤔 Normanton Park ????
I think the club said if it wasn't for Covid we could have weathered the storm, not necessarily that Covid killed us alone.
comment by GRIFF....fair price for football fans...not al... (U3408)
posted 1 hour, 44 minutes ago
Apparently a takeover is 48 hours away
----------------------------------------------------------------------
They can’t sell the club for 28 days in order to allow a fans consortium to be formed first (if there are enough of them crazy enough)
comment by 2 Wellies (U6713)
posted 1 minute ago
Feels like a perfect storm of factors but I think the EFL have played a starring role in it.
They'll never kill our club though even if we get kicked out of the league. Still we rise.
Derby Till I Die.
PS Could we share grounds with DCCC 🤔 Normanton Park ????
----------------------------------------------------------------------
It's been done before.
Derbyshire County
I can put in a tenner for the consortium bid.
To say that I’m gutted is an understatement. I’m not buying into the covid hoax. This is down to one mans vanity and arrogance.
Doomed! Yowm DOOMED I tell thee
DOOMED!
(Along with Florist of course)
The damage was done in the first two seasons, chucking money with no direction to buy average players that didn't fit into our style of play.
Since then I think Mel has tried hard to atone, he obviously didn't play in the spirit of the game with the accounting and Covid did hit our revenue stream hard.
I feel like the EFL are culpable as well as Mel though. Their d****g around with the appeal, counter appeal and stadium sale then amortization. You're the governing body either you have your policies in place or you don't. You also have a duty of care to clubs in your f$$$$$g league.
Maybe they tried hard to mediate with Mel I don't know but you had buyers willing to take the club off Mel's hands, but they smelled blood and wanted to back him into a corner. Maybe he'd have been willing to pay a QPR esque fine n had financial backing to do it. Or maybe they were scared with a buyer Mel would throw the book back at the nobbs. Whatever, the wellbeing of Derby became secondary to the EFL pursuing a vendetta. Was it the ruffled feathers over the TV rights deal? The pressure of legal action from Gibson? I think if Mel had more in the tank he could have counter appealed and drawn this process out further, n taken the EFL on legally.
Obviously he couldn't afford to do this, the EFL knew it and so went in for the kill. At some point a year or two ago the two parties could have mediated this. Instead our club is left with the best points deduction in history cos of the incompetence of an owner, the EFL's lack of polices n procedures n pettiness and a pandemic.
A perfect storm of f*****y that the fans have to endure. It's not just Mel though, the EFL are not fit to govern, the Premier is a monopoly, parachute payments and FFP work against each other. Who the f needs a European Super League to kill off our game?
It's rotten to the core. Mel was culpable but who creates the conditions for this 5hit sandwich.
When a limited company realises it’s potential to fail the board of directors has to vote on the action .
They essentially ask these questions of themselves
1) are we solvent currently? ie have the means to trade on and satisfy all creditors
2) if we agree we are insolvent do we have a rescue plan that can be put in place quickly to avoid trading illegally . Which means knowingly trading on whilst officially having concluded that the company is insolvent. To carry on is illegal and the directors would get charged with a range of offences by the courts
3) a rescue plan could take many forms
A new buyer willing to take on and resolve the debt
A new investor to join the board who will do the same
New borrowing agreed with a bank / lender that can be seen to be sustainable paid for
New financial support from a board member to sustain the operations the right side of legality
Writing off of loans by directors if these are causing the tipping into insolvency via repayment clauses
4) the directors of the trading company of DCFC have assigned voting rights with percentages and they have clearly decided those options above were not viable and they had run out of options to continue .
Looking at the clubs website the board consists of
Mel , Stephen Pearce , and unfortunately The Legend Roy McFarland
I don’t know anything about Pearce
I suspect Roy’s % vote rights would have been tiny or hopefully actually zero ( it’s perfectly possible to be a non shareholding director)
I know from personal experience that killing off a business that has run out of options takes an horrendous toll of everyone that has an deep emotional connection to the business .
Mel is clearly a fan and human being , he was unable or not prepared to deplete his much reduced fortune further . And knows that he has to stay the right side of company law to avoid being barred as a director of any other company in the process.
Roy is on another level of heartache today . He is a board member who was there as a director no doubt as as a representative of the long rich heritage of DCFC
His personal financial stake will have been tiny . His emotional and moral stake will have been immeasurable.
I’d like to think our thoughts can in some way be with Roy today, who’s heart will be broken by the decisions his position has asked him to make .
Morning. Yes devastating news.
I've said it for the last 18 months. You cant run a business (which DCFC is) without income. The overheads remained and we still had to pay all the bills.
Just imagine trying to run your own household, pay your mortgage, feed your family, pay your Gas and Electric, Council Tax, Car Loan etc etc with no money coming in....Yes Mel has to take part of the blame - as do the bumbling and incompetent EFL - but it's a simple law of economics. In the Championship there are the "Haves" and the "Have nots". The "Haves" are those who have parachute payments for 4 years. An uneven playing field.
I'd be surprised if Derby was the only Club to go this way.
A sad day - and as ever it's the long suffering supporter who gets the heartbreak and is always the last to know what's happening. Gutted - but not surprised.
12 Points for administration but i think they can still go ahead with the points deduction for the amortisation.
MM has really stitched us up.
Hope the South east give it him today.
Not really related but today was going to be a quite sad day for me and my daughters. It's the last game that LNSR will attend 'regular ' on her season ticket, before she goes to Uni, bringing to the end of 20 years of my daughters attending Pride Park. Both of her sisters were at Wembley as little kids in 2007 and they have been Derby fanatics since they were embryos and now literally fly the flags in London, Liverpool and now Birmingham.
View, my lad stopped going when he joined the Royal Navy the day after the Leeds play off game at home and it wasn’t the same going to games without him. Even my Dad said the same. He went to his 1st game in 2005 and it’s 1 of the reasons why I don’t have the enthusiasm of going as I used to
Griff - it's true. It gave me an excuse to act the kid at matches and now the excuse will not be there. Even gave me the excuse for a bloke my age to wear the Derby shirt the same as my girls (which Baz hated )
Wear your shirt with pride View. We are at Dunkirk now,. gathered on the beaches while our enemies encroach on us, our only lifeline miles away. We aren't going to surrender unless it's inevitable, we just have to fight on and hope.
View, Griff - reading your posts has made me feel blue. My little one is only four and will be introduced to games when he's older. ( whether that's Derby, time will tell) Introduced my nephew to live games and he absolutely loves the experience now.
Must be such a tough period to go without the little one(s) once it's become a family experience.
But don't forget, once your children have little ones you'll start the cycle again.
Something will be cobbled together, thoughit won’t remotely resemble what was there throughout my lifetime.
Grey skies over the Med today, and a lot of wimpy tears here, but, in truth, the players and staff are bearing this.
Never had a lot of time for celebrity footballers, but if Rooney runs true to what we’ve seen of him so far, the lads will be lucky to have him around.
Quite pleased that my dad and brother didn’t live to see this day.
But the Rams go on. And Rams supporters go with them
We are Derby.
We've been down this road before (kind of, under Maxwell)
We went down
We came back stronger
We will do the same again
WE ARE DERBY
COME ON YOU RAMS!
Maarnin' all
Woke up at 3.30am with an anxiety attack & then proceeded to have football-related dreams. Upshot was that I'm no longer the MF playmaker that I once was.
So many things have changed for the worse in recentl times, but it's not the time to enlarge on that today.
COME ON YOU RAMS !!
Live @ https://www.ja606.co.uk/articles/viewLiveArticle/438061
One match ban enabled
When the dust settles on this, and hopefully we are still in existence, I hope we avoid going down the sugar daddy model of club ownership. Twice we have tried it and twice it has led us to the edge of destruction. Forest have had similar experiences with mega rich owners.
The billionaire vanity projects at Chelsea and Man City are not good models to follow unless you have a bottomless supply of cash.and fans who turn a blind eye to how it was obtained.
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posted on 17/9/21
If Covid is the main reason as the statement makes out I'd expect to see half the league going into administration, because we're hardly the only ones with large wage bills and no income. If that were to happen we might survive, even with a -21 deduction if half the other teams get -12.
However I think we know it wasn't.
posted on 17/9/21
Feels like a perfect storm of factors but I think the EFL have played a starring role in it.
They'll never kill our club though even if we get kicked out of the league. Still we rise.
Derby Till I Die.
PS Could we share grounds with DCCC 🤔 Normanton Park ????
posted on 17/9/21
I think the club said if it wasn't for Covid we could have weathered the storm, not necessarily that Covid killed us alone.
posted on 17/9/21
comment by GRIFF....fair price for football fans...not al... (U3408)
posted 1 hour, 44 minutes ago
Apparently a takeover is 48 hours away
----------------------------------------------------------------------
They can’t sell the club for 28 days in order to allow a fans consortium to be formed first (if there are enough of them crazy enough)
posted on 17/9/21
comment by 2 Wellies (U6713)
posted 1 minute ago
Feels like a perfect storm of factors but I think the EFL have played a starring role in it.
They'll never kill our club though even if we get kicked out of the league. Still we rise.
Derby Till I Die.
PS Could we share grounds with DCCC 🤔 Normanton Park ????
----------------------------------------------------------------------
It's been done before.
Derbyshire County
posted on 18/9/21
Derbaydos County
posted on 18/9/21
I can put in a tenner for the consortium bid.
posted on 18/9/21
To say that I’m gutted is an understatement. I’m not buying into the covid hoax. This is down to one mans vanity and arrogance.
posted on 18/9/21
Doomed! Yowm DOOMED I tell thee
DOOMED!
(Along with Florist of course)
posted on 18/9/21
The damage was done in the first two seasons, chucking money with no direction to buy average players that didn't fit into our style of play.
Since then I think Mel has tried hard to atone, he obviously didn't play in the spirit of the game with the accounting and Covid did hit our revenue stream hard.
I feel like the EFL are culpable as well as Mel though. Their d****g around with the appeal, counter appeal and stadium sale then amortization. You're the governing body either you have your policies in place or you don't. You also have a duty of care to clubs in your f$$$$$g league.
Maybe they tried hard to mediate with Mel I don't know but you had buyers willing to take the club off Mel's hands, but they smelled blood and wanted to back him into a corner. Maybe he'd have been willing to pay a QPR esque fine n had financial backing to do it. Or maybe they were scared with a buyer Mel would throw the book back at the nobbs. Whatever, the wellbeing of Derby became secondary to the EFL pursuing a vendetta. Was it the ruffled feathers over the TV rights deal? The pressure of legal action from Gibson? I think if Mel had more in the tank he could have counter appealed and drawn this process out further, n taken the EFL on legally.
Obviously he couldn't afford to do this, the EFL knew it and so went in for the kill. At some point a year or two ago the two parties could have mediated this. Instead our club is left with the best points deduction in history cos of the incompetence of an owner, the EFL's lack of polices n procedures n pettiness and a pandemic.
A perfect storm of f*****y that the fans have to endure. It's not just Mel though, the EFL are not fit to govern, the Premier is a monopoly, parachute payments and FFP work against each other. Who the f needs a European Super League to kill off our game?
It's rotten to the core. Mel was culpable but who creates the conditions for this 5hit sandwich.
posted on 18/9/21
Mornin' y'all
posted on 18/9/21
When a limited company realises it’s potential to fail the board of directors has to vote on the action .
They essentially ask these questions of themselves
1) are we solvent currently? ie have the means to trade on and satisfy all creditors
2) if we agree we are insolvent do we have a rescue plan that can be put in place quickly to avoid trading illegally . Which means knowingly trading on whilst officially having concluded that the company is insolvent. To carry on is illegal and the directors would get charged with a range of offences by the courts
3) a rescue plan could take many forms
A new buyer willing to take on and resolve the debt
A new investor to join the board who will do the same
New borrowing agreed with a bank / lender that can be seen to be sustainable paid for
New financial support from a board member to sustain the operations the right side of legality
Writing off of loans by directors if these are causing the tipping into insolvency via repayment clauses
4) the directors of the trading company of DCFC have assigned voting rights with percentages and they have clearly decided those options above were not viable and they had run out of options to continue .
Looking at the clubs website the board consists of
Mel , Stephen Pearce , and unfortunately The Legend Roy McFarland
I don’t know anything about Pearce
I suspect Roy’s % vote rights would have been tiny or hopefully actually zero ( it’s perfectly possible to be a non shareholding director)
I know from personal experience that killing off a business that has run out of options takes an horrendous toll of everyone that has an deep emotional connection to the business .
Mel is clearly a fan and human being , he was unable or not prepared to deplete his much reduced fortune further . And knows that he has to stay the right side of company law to avoid being barred as a director of any other company in the process.
Roy is on another level of heartache today . He is a board member who was there as a director no doubt as as a representative of the long rich heritage of DCFC
His personal financial stake will have been tiny . His emotional and moral stake will have been immeasurable.
I’d like to think our thoughts can in some way be with Roy today, who’s heart will be broken by the decisions his position has asked him to make .
posted on 18/9/21
Morning. Yes devastating news.
I've said it for the last 18 months. You cant run a business (which DCFC is) without income. The overheads remained and we still had to pay all the bills.
Just imagine trying to run your own household, pay your mortgage, feed your family, pay your Gas and Electric, Council Tax, Car Loan etc etc with no money coming in....Yes Mel has to take part of the blame - as do the bumbling and incompetent EFL - but it's a simple law of economics. In the Championship there are the "Haves" and the "Have nots". The "Haves" are those who have parachute payments for 4 years. An uneven playing field.
I'd be surprised if Derby was the only Club to go this way.
A sad day - and as ever it's the long suffering supporter who gets the heartbreak and is always the last to know what's happening. Gutted - but not surprised.
posted on 18/9/21
12 Points for administration but i think they can still go ahead with the points deduction for the amortisation.
MM has really stitched us up.
Hope the South east give it him today.
posted on 18/9/21
Not really related but today was going to be a quite sad day for me and my daughters. It's the last game that LNSR will attend 'regular ' on her season ticket, before she goes to Uni, bringing to the end of 20 years of my daughters attending Pride Park. Both of her sisters were at Wembley as little kids in 2007 and they have been Derby fanatics since they were embryos and now literally fly the flags in London, Liverpool and now Birmingham.
posted on 18/9/21
View, my lad stopped going when he joined the Royal Navy the day after the Leeds play off game at home and it wasn’t the same going to games without him. Even my Dad said the same. He went to his 1st game in 2005 and it’s 1 of the reasons why I don’t have the enthusiasm of going as I used to
posted on 18/9/21
Griff - it's true. It gave me an excuse to act the kid at matches and now the excuse will not be there. Even gave me the excuse for a bloke my age to wear the Derby shirt the same as my girls (which Baz hated )
posted on 18/9/21
Wear your shirt with pride View. We are at Dunkirk now,. gathered on the beaches while our enemies encroach on us, our only lifeline miles away. We aren't going to surrender unless it's inevitable, we just have to fight on and hope.
posted on 18/9/21
View, Griff - reading your posts has made me feel blue. My little one is only four and will be introduced to games when he's older. ( whether that's Derby, time will tell) Introduced my nephew to live games and he absolutely loves the experience now.
Must be such a tough period to go without the little one(s) once it's become a family experience.
But don't forget, once your children have little ones you'll start the cycle again.
posted on 18/9/21
Something will be cobbled together, thoughit won’t remotely resemble what was there throughout my lifetime.
Grey skies over the Med today, and a lot of wimpy tears here, but, in truth, the players and staff are bearing this.
Never had a lot of time for celebrity footballers, but if Rooney runs true to what we’ve seen of him so far, the lads will be lucky to have him around.
Quite pleased that my dad and brother didn’t live to see this day.
But the Rams go on. And Rams supporters go with them
posted on 18/9/21
We are Derby.
We've been down this road before (kind of, under Maxwell)
We went down
We came back stronger
We will do the same again
WE ARE DERBY
COME ON YOU RAMS!
posted on 18/9/21
Maarnin' all
Woke up at 3.30am with an anxiety attack & then proceeded to have football-related dreams. Upshot was that I'm no longer the MF playmaker that I once was.
So many things have changed for the worse in recentl times, but it's not the time to enlarge on that today.
COME ON YOU RAMS !!
posted on 18/9/21
Live @ https://www.ja606.co.uk/articles/viewLiveArticle/438061
One match ban enabled
posted on 18/9/21
When the dust settles on this, and hopefully we are still in existence, I hope we avoid going down the sugar daddy model of club ownership. Twice we have tried it and twice it has led us to the edge of destruction. Forest have had similar experiences with mega rich owners.
The billionaire vanity projects at Chelsea and Man City are not good models to follow unless you have a bottomless supply of cash.and fans who turn a blind eye to how it was obtained.
posted on 18/9/21
Admin1
Page 3 of 22
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