Welcome Derby County to League 1

kieran_vale

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What a waste of vital time that has been then.

Someone else could have done a deal by now .

Pretty embarrassing waste of time for all concerned on this. Administrators won’t care though as the fees will have been stacking up all through this.

Potentially now this chancer is out the way this could be a good thing for Derby as can now do what they should have done a long time ago and open up the bidding to others. Fingers crossed for Derby this now works out.
 

91SPP

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I'm surprised Kirchner pulled out, despite the obvious cynicism, he paid last month's wages via MSD which means he's now lost £1.6m on top of lawyer fees and other fees paid to the administrators to become the preferred buyer. I'm assuming this entire ordeal has set him back well over £2m - in the end for nothing.

The EFL & Administrators had seen proof of funds, obviously with the crash in the stock market today (and crypto) it could be that he's just taken a massive financial hit and doesn't want compound the issue. I'm not sure. The administrators also had visibility over his bank transfer and was seemingly happy until it got flagged up. He was young, obviously, with no history of generational wealth.

Anyway, he did a lot of good work in terms of finding a resolution for the ground and agreeing a deal in principle with the creditors. People coming to the table know roughly the situation. I don't think it was all time wasted, but definitely could've been spent better.

An interesting couple of days ahead. The EFL will either have to let us sign players or kick us out the league soon enough, though. We really could do with season tickets going on sale too, but god knows what needs to happen for that to be allowed. I do know that they won't be happy with us drawing fans out of a hat and giving them 90 minutes in League One though. It would be some money spinner; get a lot of rich fans to pay big money to play upfront or in goal for Derby County in a professional league game. I guess we could run a raffle to see who manages for the game too.

Interesting week ahead.
 

kieran_vale

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I really want to see Derby survive and am still hopeful they ultimately will but seeing stories like this where the administrators are looking to take the equivalent of a payday loan to pay the wages isn’t a great look. This is just adding more debt to the existing amount and will just be a never ending cycle unless they are sold asap. There has to be a cutoff point for this imposed.

 

leedsvaliant

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I thought the premise was that Derby could continue to fund itself, hence not going the same way as Bury. Taking out a loan to pay wages surely suggests that it can't fund itself, even month to month? What's the hold up? It's all gone very quiet. It's nearly 2 weeks since Kirchner deal collapsed.
 

valefan16

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I thought the premise was that Derby could continue to fund itself, hence not going the same way as Bury. Taking out a loan to pay wages surely suggests that it can't fund itself, even month to month? What's the hold up? It's all gone very quiet. It's nearly 2 weeks since Kirchner deal collapsed.
Plus any loan surely would be at a huge interest rate?
 

Railway Blue

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Surely even Ashley would be better than the alternative.
 

cookiemonster

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Who would loan money to a club in administration? Who do you loan it too? What is the collateral?
 

91SPP

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Former chairman Andy Appleby has agreed to fund the club for new signings and the wage bill for this month. He's also announced that his takeover is in the 'final strokes' whatever that means of being completed. All very different to noise that came out yesterday, but all the same - good news.

The days of Andy Appleby & Co was as dull as dishwater at times, but he did run the club well. He doesn't have the capital by himself of a Steve Morgan or Mike Ashley, but he will hire smart people and will make sure we are competitive at this level.
 

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Even when/if they get taken over the problems might not stop there .

 

91SPP

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After Appleby, then Ashley... it looks like local property businessman is going to take us over - Dave Cowes - who was the person who cut the deal with Morris for the stadium in preparation for Kirchner to buy the club. He's happy to go on his own and get it done by next week, but sounds like he's open to partnership opportunities.

I actually think it suits both Appleby and Clowes to go in together. We will see.
 

valefan16

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Rooney has walked…
 

Marked Ox

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Wonder how many of these players that were lined and waiting for the takeover to be completed to sign will bail now?
 

valefan16

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Wonder how many of these players that were lined and waiting for the takeover to be completed to sign will bail now?
You’d imagine at some point they’d get twitchy and if anyone comes in would be signing a deal with a club than risk waiting and not getting any club!
 

Bartonyellow

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On a serious note, this is bad news for them. He would have convinced players to stay.
Who they get now god only knows as Rooneys wages were paid by the betting company I thought so a new gaffa will cost money they don’t have.
 

BarrieOwl

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On a serious note, this is bad news for them. He would have convinced players to stay.
Who they get now god only knows as Rooneys wages were paid by the betting company I thought so a new gaffa will cost money they don’t have.
Betting company couldn't pay him this time apparently
 

91SPP

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It makes sense and relative to the position both parties find themselves then it makes sense. It's a shame, but wish him all the best in the future and hope that he does prove himself at the highest level.

We have today confirmed funding for the entire season, including budget for new signings and contract extensions, before any takeover - albeit funded by the guy looking to complete the purchase of the club by the middle of next week. I believe season tickets will go on sale soon, which is good, Rosenior is sticking around for the time-being and I find it incredibly hard to believe that we wouldn't just give him the job at least it offers some continuity.

We should see some movement soon. God knows what state we will be in on opening day, but at least we have an opening day. A lot of work to do.

Based on what we have now:

Alfie Roberts; Nathan Byrne, Harrison Solomon, Krystian Bielik, Lee Buchanan; Max Bird, Jason Knight, Louie Sibley; Ola Ibrahim, Bart Cybulski, Jack Stretton.

Lots of pressure on Stretton to make an impact, who has always been impressive for the academy. All the weight on the world goes to Sibley, who is by far and some way our most talented player and will need to show consistency this year if we're going to do anything positive. Solomon and Ibrahim were two players who were heavily favoured last pre-season but didn't see much playing time throughout the season. Interesting to see what they can do.
 

BarrieOwl

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Be interested in what restrictions on signings you will be under.
 

91SPP

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Be interested in what restrictions on signings you will be under.

No idea how they will project turnover until season ticket sales go on sale - we haven't even seen the accounts for the past 3 seasons.

17/18, 18/19 - we were turning over just shy of £30m a year. I think relegation accounts for roughly £8m.

If we say £20m a year turnover to be conservative, 60% of turnover would be £12m a year which I think is the general rule in League One.

No idea what our wage bill will be like, it was £1.6m a month last season. I would assume with the contracted players we have now, logic would state we will have something in the region of £300k-400k. It's going to be tight, but in comparison to other clubs at this level at least it's competitive.

The trouble is that most of the players that were out of contract are now moving on, so it's going to take some ingenuity to put a capable squad together. Nothing I can do about it anyway, so will wait and see.
 

BarrieOwl

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No idea how they will project turnover until season ticket sales go on sale - we haven't even seen the accounts for the past 3 seasons.

17/18, 18/19 - we were turning over just shy of £30m a year. I think relegation accounts for roughly £8m.

If we say £20m a year turnover to be conservative, 60% of turnover would be £12m a year which I think is the general rule in League One.

No idea what our wage bill will be like, it was £1.6m a month last season. I would assume with the contracted players we have now, logic would state we will have something in the region of £300k-400k. It's going to be tight, but in comparison to other clubs at this level at least it's competitive.

The trouble is that most of the players that were out of contract are now moving on, so it's going to take some ingenuity to put a capable squad together. Nothing I can do about it anyway, so will wait and see.
Should be a wage cap and no fees allowed to be paid for a season minimum, we had it.

What crowds you expecting?
 

masi51

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you can go down one of two routes after exiting administration.....Re build and start again like Bolton did
Academy right through to management. This would mean you may go down again before you rise.
Or you could go the Wigan route and gamble by paying top wages to get you back to the championship straight away............Then what major investment just to stay still.

Bolton and Shef Wed had wage caps and were not allowed signing fees Wigan for some reason escaped this........All depends what the EFL impose on you
 

northstandexile

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All the reading between the lines is that Derby will not come out of Admin, but will be liquidated.
Derby owe HMRC at least 36m, which is more than 25% of the debt. Any organisation which is in this position can prevent the CVA going ahead. HMRC have form for not accepting anything other than the full amount. They would rather the company go bust than accept a percentage in the pound. Can you see the ‘property developer’ chucking the tax man £36m. No I cant either.
The big question is what will the EFL do with Derby’s golden share that the present company holds. Just transferring it to the new Derby debt free start up company will not go down well as every club will then stop paying their taxes and start up again.

If the club wasn’t in the EFL and in the non-league the FA would chuck them out of their division and make a new club start at non league level 5 like they did with Macclesfield.

Have the EFL got the balls to throw out Derby if they get liquidated.
 

Bobbin'

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Surely there is no way that Bielik will be at Derby come start of the season?

What’s he earning a week?
 
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