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Post by West Acton on Sept 18, 2021 6:18:51 GMT
Losing 1.5 million a month 3-4mil a month 😳 |
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Post by BrightonR on Sept 18, 2021 6:33:59 GMT
Very good news indeed.
Their overspending, mis-management and shady practices have been going on for years now. Let’s see how they cope in League one on a level playing field.
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Post by 2Loftus on Sept 18, 2021 7:44:38 GMT
Pleased that Mel Morris has copped it, but do feel for Derby fans. Still, we’ve been there and done that… character-building!
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Post by alanwycombe on Sept 18, 2021 8:17:26 GMT
Have said before about owners careful what you wish for. Our lot have learnt the hard way but they ain’t Mel Morris.
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Post by 1qprdk on Sept 18, 2021 8:48:27 GMT
Finally. Sad thing is that cheating on purpose pays off again. We spent too much, but were quite open about it, and got the biggest fine in football history. They cheat and lie year after year, and get smallish fine and all points deducted in one season, making them only drop one league. Let's hope Karma sorts it out.
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Post by 2Loftus on Sept 18, 2021 10:08:43 GMT
Various commentators' comments...
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Post by acricketer on Sept 18, 2021 10:15:16 GMT
I think we'll beat the drop this season.
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Post by West Acton on Sept 18, 2021 10:21:23 GMT
Have said before about owners careful what you wish for. Our lot have learnt the hard way but they ain’t Mel Morris. I think we have owners in the same cloth as Leicester ours just wasted the money initially and are now playing catch up and struggle to shake the reputation of incompetence because of earlier exploits |
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Post by Bill on Sept 18, 2021 13:02:53 GMT
Throw the fucking book at them,cheating for years,lie upon lie,dodgy deals and fucking Rooney.
21 point deduction is very light punishment for their misdemeanours.
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Post by Tarbie on Sept 18, 2021 13:09:23 GMT
21 points deducted is basically guaranteed relegation. Admin will also leave them hamstrung in the transfer market. They also appear to have the wrong people in charge in pretty much all areas of the club. Make no mistake, Derby are in big trouble and could go into freefall if they don't get this next 12 months right.
Whilst financially they weren't hit as hard us, I think they are in far bigger trouble than we were in terms of being able to bounce back.
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Post by alanwycombe on Sept 18, 2021 13:12:06 GMT
Who owns ground?
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Post by acricketer on Sept 18, 2021 13:15:10 GMT
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Post by Bill on Sept 18, 2021 13:20:30 GMT
Sold to another company owned by Mel Morris another underhand deal
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Post by alanwycombe on Sept 18, 2021 13:21:24 GMT
Seriously, that could be key. If they sold it to themselves and they’re skint?
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Post by Tarbie on Sept 18, 2021 13:34:55 GMT
I'm pretty sure Mel Morris personally owns the stadium. It's a real mess, they have very few genuine assets. I suppose players like Krystian Bielik, Max Bird and Jason Knight might fetch a few quid but they'll never get full market value for them in the January window when the administrators are in.
The numbers being speculated are debts of 60-80m quid. Over 20m of that to HMRC. Surely they are in serious risk of being wound up?
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Post by Bill on Sept 18, 2021 13:41:57 GMT
I'm pretty sure Mel Morris personally owns the stadium. It's a real mess, they have very few genuine assets. I suppose players like Krystian Bielik, Max Bird and Jason Knight might fetch a few quid but they'll never get full market value for them in the January window when the administrators are in. The numbers being speculated are debts of 60-80m quid. Over 20m of that to HMRC. Surely they are in serious risk of being wound up? No its owned by a company owned by Mel Morris so theoreticaly he could set up another company and sell to them. This why the EFL must punish them heavily,make an example like they did to us for far less. The EFL must also close all loopholes that exist and imo Wycombe should be compensated as this should have been dealt with far sooner than it has. |
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Post by Tarbie on Sept 18, 2021 13:46:02 GMT
I don't see how it would be possible for the stadium to be sold back to Derby Bill. For starters they don't have any money. Secondly you can just sell a stadium to your owner or one of his businesses to raise funds and then sell it back on the cheap a few seasons later. If you could do that all clubs would be doing it to circumvent FFP.
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Post by Bill on Sept 18, 2021 13:52:58 GMT
Another paper company,not Derby Tarbs
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Post by Tarbie on Sept 18, 2021 13:58:45 GMT
Doesn't matter who owns the ground mate, Derby can't buy it back in their current state. And I very much doubt even if they had the money FFP would allow them to buy it on the cheap.
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Post by gtleighsr3 on Sept 18, 2021 14:03:44 GMT
Amount of shit they in you could buy whole club for a quid.
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Post by Bill on Sept 18, 2021 14:05:12 GMT
Doesn't matter who owns the ground mate, Derby can't buy it back in their current state. And I very much even if they had the money FFP would allow them to buy it on the cheap. They could lease it though ? I never said Derby could buy it back. Mel Morris could set up another new company in addition to the company who currently owns it. |
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Post by Tarbie on Sept 18, 2021 14:15:11 GMT
Surely they have been leasing it already Bill? Was that not the deal? I thought they sold the stadium for 80m quid and leased it back?
Either way, what they need now are assets to sell in order to pay their tax bill. And aside from a handful of players that could fetch a decent fee, I don't think they have many assets at all. They are effectively trading insolvent I suspect.
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Post by Bill on Sept 18, 2021 14:21:28 GMT
Insolvent,bankrupt broke whatever.
They are in the shit.
I suppose it depends how inventive their legal team can be.
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Post by Tarbie on Sept 18, 2021 14:56:11 GMT
It's not really a legal matter as such bill. The administrators have been appointed. This means they will assess what assets the club has, weigh that up against the debts and make an offer to their creditors to settle their debts. In simplistic terms, say Derby owe 100m quid but only have 20m quid's worth of assets (I've plucked those numbers out of the air by the way), the administrators will offer their creditors 20 pence in every pound owed in full and final settlement of the debt.
The issue for Derby is they owe a lot of money to HMRC, who are typically not at all flexible in terms of agreeing settlements in these situations. I believe their tax bill is between 20 and 25m quid. In all likelihood that will need to be paid in full to prevent the club being issued with a winding up order.
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Post by Stanley75 on Sept 18, 2021 15:00:04 GMT
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Post by Bill on Sept 18, 2021 15:03:55 GMT
Creative enough to sell ground,which we could have done but we werenot astute.
I am familiar with company law and the days we live in at the moment nothing would surprise me.
Derby being wound up GREAT !!!
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Post by Bill on Sept 18, 2021 15:10:55 GMT
Very true,we should get a refund |
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Post by acricketer on Sept 18, 2021 15:12:37 GMT
Goaaaaalllll
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Post by acricketer on Sept 18, 2021 15:13:24 GMT
Wrong thread!
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Post by Tarbie on Sept 18, 2021 15:16:13 GMT
I think from a financial perspective our fine was more heavy handed than any other FFP fines issued in England since. I do think we were a bit naive in how handled the proceedings though. I also suspect that the knives were out for us cos we were perceived to have cheated and got away with it for the Alle Faurlin saga. It's also worth noting that FFP has been relaxed somewhat since our fine. We fell foul of FFP at literally the worst time. All that being said, I do think a review of our fine is something that should happen. It can't be right that we were hit with such a big penalty and various clubs since have got off much lighter for arguably far worse offences. |
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