Looks like Derby County are on the brink

rangeral

Well-Known Member

The joint administrators are very much aware of the heightened speculation as to the future of Derby County Football Club - such speculation was not helped by yesterday’s press reports following a meeting of the EFL board yesterday.

This statement hopefully addresses some of the concerns as well as setting out the current position in relation to the administration.

As we have previously reported there has been considerable interest from a number of credible parties. There are currently 3 parties who have made offers. One of the Joint Administrators duties is to act in the interest of all creditors, and this includes secured creditors, preferential creditors and the unsecured (“ ordinary “) creditors owed monies by the club. In relation to a football insolvency this duty is further compounded by dealing with those creditors known as “football creditors” which need to be dealt with in order to protect the club’s ongoing membership of the English Football League.

The Joint Administrators have an exit plan ready to implement and be approved by creditors and this is with a view to adjusting offers received to accommodate the EFL insolvency policy and their requirements to creditors.

The difficulty and currently, in our view, the last remaining significant obstacle is to deal with certain claims that are very much disputed but which we are being advised by the EFL cannot be currently compromised notwithstanding statute says otherwise. Whilst we accept this is frustrating for all, none of the interested parties are able to progress matters further until such time that an agreement can be reached.

Linked to the above is the need to ensure the club can be funded, if needs be, over the coming months or until we have successfully completed a sale. The EFL have demanded that we prove adequate funding is in place and until as such time as we are able to do that, they will not progress player registrations – this includes some players where contracts needed to be extended this month. Whilst we have a number of options as to how that funding can be delivered, we are not, today, in a position to finalise this funding however we do believe this will be finalised in the coming weeks.

We are aware of yesterday’s press comments, however, the position is not straight forward bearing in mind the position of other stakeholders. We are urgently seeking clarification from the EFL as to why these disputed claims cannot be compromised.
 

SouthernGer

Administrator
Staff member
Ashley was reported to be close to a deal but the cases with Wycombe and Middlesborough are still to be resolved and these are likely to take a while. Derby are running out of time. Hopefully this link works.

 

Papatango

Well-Known Member
If they are relying on clarification from the EPL then they are fucked.

Football administrators worldwide are corrupt useless arsehole.

Good luck Derby.
 

SuffolkGer

Well-Known Member
I feel for them, I was reading all the forest fans putting the boot in on them and it reminded me of 2012. It’s hell as a supporter.
 

Middlesbrough_Gers

Well-Known Member
I feel for them, I was reading all the forest fans putting the boot in on them and it reminded me of 2012. It’s hell as a supporter.
I get that, the derby fans are blaming the wrong people and organisations for their plight, its unbelievable how much of an Easy ride Mel Morris is getting
 

big_hec

Well-Known Member
It is the action of HMRC in this that will be of most interest to this Bear. If they apply the same process to Derby as they did to us then I will have no complaint. Should they deviate from it, however, questions will need to be asked.
I’m sure Derby’s local MP will be moving heaven and earth to help them ………
 

Mount_Bear

Well-Known Member
Very sad. They're working an absolute miracle down there as well. But for the points deduction, they'd be top half of the league - a team that only had seven players about a week before the season started. Can only hope they can sort something.
 

Clicker

Well-Known Member
My old man worked in Rolls-Royce in Hillington, a few of his workmates had moved up from the main factory in Derby and had became big bluenoses.
 

Somemightsay

Well-Known Member
Feel for Rooney - I really didn't expect him to do anything as a manager but to be fair to him - he's done an incredible job at Derby given everything that has gone on.
 
Top