Generic clubs in financial crisis Thread

[Brogue]

US businessman Chris Kirchner has withdrawn his bid to buy Championship club Derby County.

[Zip]

Christmas come early for Bury

https://www.gov.uk/government/news/chri ... udypj9YGwo

I’m sure that Bury having a Tory marginal seat has nothing to do with Gove’s decision.

[Brogue]

Christmas come early for Bury

https://www.gov.uk/government/news/chri ... udypj9YGwo

I’m sure that Bury having a Tory marginal seat has nothing to do with Gove’s decision.

KPOGF etc etc

[South Coast Royal]

Christmas come early for Bury

https://www.gov.uk/government/news/chri ... udypj9YGwo

I’m sure that Bury having a Tory marginal seat has nothing to do with Gove’s decision.

Cynical but true I reckon.

[Franchise FC]

US businessman Chris Kirchner has withdrawn his bid to buy Championship club Derby County.

Only because his bid was not as good as the other two and he wouldn't have become preferred bidder anyway.

[Sutekh]

Christmas come early for Bury

https://www.gov.uk/government/news/chri ... udypj9YGwo

I’m sure that Bury having a Tory marginal seat has nothing to do with Gove’s decision.

A department of Leveling Up?

[Zip]

Christmas come early for Bury

https://www.gov.uk/government/news/chri ... udypj9YGwo

I’m sure that Bury having a Tory marginal seat has nothing to do with Gove’s decision.

A department of Leveling Up?

I know!
Yeah Bury has two marginal seats as it happens. I’m sure that has nothing to do with the decision made.

[Dirk Gently]

Can't think of a better thread to post this in - if anyone enjoys tales of football finance this book is a cracker.



How a once well-run club was allowed to decline and go out of existence in a a few short years due to the arrogance, ego and incompetence of its dodgy owners.

[PATRIQT]

I've just seen that Mike Ashley wants to buy Derby and turn them into a super club

[PATRIQT]

Apparently Derby have until Feb 1st to prove they have the funds to finish the season or the FL will relegate them. They need to do some selling, quickly.

[Winston Biscuit]

Interesting stuff from Kieran Maguire on the Football Weekly podcast talking about Derby

The administrators are looking for around £65M for Derby, but the club don't own any property as it was all sold to Mel Morris so what the buyer would be getting for that are the players contracts, who are mostly on short term deals due to their financial mess so there is not a huge value in that, and entry into the 2nd tier of the football league, which is the thing that does have value as a buyer is getting a football club 1 step away from Premier League riches. If relegated that obviously changes somewhat.

They currently owe:

HMRC - £28M
MSD Holdings - £20M
Arsenal - £8M

The above 3 debts must be paid in full. They have another load of debts which needs settling at 25% of the value which then comes to around £4-£5M. If the debts are not fully settled as above when a new owner takes over, then Derby will get a 15 point deduction

They have been asked to show they have the funds to pay wages for the rest of the season, but because Wycombe & 'Boro both have court cases ongoing against Derby where they are both claiming millions in loss of earnings Derby are asking for the Feb 1st deadline to be extended.

Boro - for finishing 7th and missing out on play offs when Derby 'fiddled' their financial numbers
Wycombe - £6M claim based on diffo in Champ & L1 TV deal when Derby 'fiddled' their financial numbers

There is a precedent in place for loss of earnings to be paid due to the Shef Utd / Tevez case

The Administrators are expected to cost between £2M-£3M so that gets added to the bill too

Their job is to try and sell players to bring in some money short term but with 11 days left of the transfer window they have sold 1 player and that was to Wigan for £30k (I assume this means with a couple of days left of the window some teams will go in with very low offers)

[Zip]

Interesting stuff from Kieran Maguire on the Football Weekly podcast talking about Derby

The administrators are looking for around £65M for Derby, but the club don't own any property as it was all sold to Mel Morris so what the buyer would be getting for that are the players contracts, who are mostly on short term deals due to their financial mess so there is not a huge value in that, and entry into the 2nd tier of the football league, which is the thing that does have value as a buyer is getting a football club 1 step away from Premier League riches. If relegated that obviously changes somewhat.

They currently owe:

HMRC - £28M
MSD Holdings - £20M
Arsenal - £8M

The above 3 debts must be paid in full. They have another load of debts which needs settling at 25% of the value which then comes to around £4-£5M. If the debts are not fully settled as above when a new owner takes over, then Derby will get a 15 point deduction

They have been asked to show they have the funds to pay wages for the rest of the season, but because Wycombe & 'Boro both have court cases ongoing against Derby where they are both claiming millions in loss of earnings Derby are asking for the Feb 1st deadline to be extended.

Boro - for finishing 7th and missing out on play offs when Derby 'fiddled' their financial numbers
Wycombe - £6M claim based on diffo in Champ & L1 TV deal when Derby 'fiddled' their financial numbers

There is a precedent in place for loss of earnings to be paid due to the Shef Utd / Tevez case

The Administrators are expected to cost between £2M-£3M so that gets added to the bill too

Their job is to try and sell players to bring in some money short term but with 11 days left of the transfer window they have sold 1 player and that was to Wigan for £30k (I assume this means with a couple of days left of the window some teams will go in with very low offers)

I guess they are trying to keep hold of as many of their better players for as long as they can.

[Winston Biscuit]

Interesting stuff from Kieran Maguire on the Football Weekly podcast talking about Derby

The administrators are looking for around £65M for Derby, but the club don't own any property as it was all sold to Mel Morris so what the buyer would be getting for that are the players contracts, who are mostly on short term deals due to their financial mess so there is not a huge value in that, and entry into the 2nd tier of the football league, which is the thing that does have value as a buyer is getting a football club 1 step away from Premier League riches. If relegated that obviously changes somewhat.

They currently owe:

HMRC - £28M
MSD Holdings - £20M
Arsenal - £8M

The above 3 debts must be paid in full. They have another load of debts which needs settling at 25% of the value which then comes to around £4-£5M. If the debts are not fully settled as above when a new owner takes over, then Derby will get a 15 point deduction

They have been asked to show they have the funds to pay wages for the rest of the season, but because Wycombe & 'Boro both have court cases ongoing against Derby where they are both claiming millions in loss of earnings Derby are asking for the Feb 1st deadline to be extended.

Boro - for finishing 7th and missing out on play offs when Derby 'fiddled' their financial numbers
Wycombe - £6M claim based on diffo in Champ & L1 TV deal when Derby 'fiddled' their financial numbers

There is a precedent in place for loss of earnings to be paid due to the Shef Utd / Tevez case

The Administrators are expected to cost between £2M-£3M so that gets added to the bill too

Their job is to try and sell players to bring in some money short term but with 11 days left of the transfer window they have sold 1 player and that was to Wigan for £30k (I assume this means with a couple of days left of the window some teams will go in with very low offers)

I guess they are trying to keep hold of as many of their better players for as long as they can.

They have apparently been rejecting bids for players this month. How does that work with an offer on the last day of the window when the EFL have confirmed that administrators are forecasting the club to run out of money in February?!

The 3 people interested in buying the club have all said they won't do anything until the 2 court cases are resolved. They are being heard separately by different judges. I wonder if 1 is successful and the other not, then the one that is not could appeal and drag this out even longer, no?!

[Zip]

Interesting stuff from Kieran Maguire on the Football Weekly podcast talking about Derby

The administrators are looking for around £65M for Derby, but the club don't own any property as it was all sold to Mel Morris so what the buyer would be getting for that are the players contracts, who are mostly on short term deals due to their financial mess so there is not a huge value in that, and entry into the 2nd tier of the football league, which is the thing that does have value as a buyer is getting a football club 1 step away from Premier League riches. If relegated that obviously changes somewhat.

They currently owe:

HMRC - £28M
MSD Holdings - £20M
Arsenal - £8M

The above 3 debts must be paid in full. They have another load of debts which needs settling at 25% of the value which then comes to around £4-£5M. If the debts are not fully settled as above when a new owner takes over, then Derby will get a 15 point deduction

They have been asked to show they have the funds to pay wages for the rest of the season, but because Wycombe & 'Boro both have court cases ongoing against Derby where they are both claiming millions in loss of earnings Derby are asking for the Feb 1st deadline to be extended.

Boro - for finishing 7th and missing out on play offs when Derby 'fiddled' their financial numbers
Wycombe - £6M claim based on diffo in Champ & L1 TV deal when Derby 'fiddled' their financial numbers

There is a precedent in place for loss of earnings to be paid due to the Shef Utd / Tevez case

The Administrators are expected to cost between £2M-£3M so that gets added to the bill too

Their job is to try and sell players to bring in some money short term but with 11 days left of the transfer window they have sold 1 player and that was to Wigan for £30k (I assume this means with a couple of days left of the window some teams will go in with very low offers)

I guess they are trying to keep hold of as many of their better players for as long as they can.

They have apparently been rejecting bids for players this month. How does that work with an offer on the last day of the window when the EFL have confirmed that administrators are forecasting the club to run out of money in February?!

I don’t know and what happens if they sell a number of senior players and don’t have enough left to form a reasonable sized squad?

[Winston Biscuit]

I guess they are trying to keep hold of as many of their better players for as long as they can.

They have apparently been rejecting bids for players this month. How does that work with an offer on the last day of the window when the EFL have confirmed that administrators are forecasting the club to run out of money in February?!

I don’t know and what happens if they sell a number of senior players and don’t have enough left to form a reasonable sized squad?

under 23's, under 18's, free agents. Should always be able to find 11 lads to kick a ball around

[Winston Biscuit]

EFL statement:

On 27 January the EFL and Derby County’s Administrators, Quantuma, announced a four week extension to the deadline for the provision of evidence of sufficient funding to complete the current season.

The Administrators have not yet provided that evidence, and we await an urgent further update from them on both that and the announcement of a preferred bidder

Just looked on a Derby forum and they seem to think it's all about whether a new buyer is announced tomorrow or not

[Winston Biscuit]

Long read on Derby's current situation

https://www.dcfcbawt.org/post/storm-clouds-gathering

[Weymouth Royal]

The way it's going at Derby, they'll be relegated and take points deductions into the third division. The gift that keeps on giving.

[YorkshireRoyal99]

Makes me wonder who the next club will be to fall into Derby's situation. Huddersfield I know have been struggling for cash since their owner put some of his businesses into administration although I don't know if they are in the process of a takeover or not.

[John Madejski's Wallet]

Interesting stuff from Kieran Maguire on the Football Weekly podcast talking about Derby

The administrators are looking for around £65M for Derby, but the club don't own any property as it was all sold to Mel Morris so what the buyer would be getting for that are the players contracts, who are mostly on short term deals due to their financial mess so there is not a huge value in that, and entry into the 2nd tier of the football league, which is the thing that does have value as a buyer is getting a football club 1 step away from Premier League riches. If relegated that obviously changes somewhat.

They currently owe:

HMRC - £28M
MSD Holdings - £20M
Arsenal - £8M

The above 3 debts must be paid in full. They have another load of debts which needs settling at 25% of the value which then comes to around £4-£5M. If the debts are not fully settled as above when a new owner takes over, then Derby will get a 15 point deduction

They have been asked to show they have the funds to pay wages for the rest of the season, but because Wycombe & 'Boro both have court cases ongoing against Derby where they are both claiming millions in loss of earnings Derby are asking for the Feb 1st deadline to be extended.

Boro - for finishing 7th and missing out on play offs when Derby 'fiddled' their financial numbers
Wycombe - £6M claim based on diffo in Champ & L1 TV deal when Derby 'fiddled' their financial numbers

There is a precedent in place for loss of earnings to be paid due to the Shef Utd / Tevez case

The Administrators are expected to cost between £2M-£3M so that gets added to the bill too

Their job is to try and sell players to bring in some money short term but with 11 days left of the transfer window they have sold 1 player and that was to Wigan for £30k (I assume this means with a couple of days left of the window some teams will go in with very low offers)

Sounds like they're actually better off than us. Don't we have much more debt and also no property/assets?