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Derby County deal expected to collapse


beezer said:
£52m for Derby in League One with more than likely a points deduction too?

Madrox got one hell of a deal picking us up for £17m or whatever it was. They’ve some nerve to hang on for a profit after 3 seasons of failure.
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Er they didn't pay 17 mill that was the parachute they used.
 
Grumpy Old Man said:
Looking at the papers this morning, it looks like the biggest problem Ashley has is that he considers the level of Quantuma's fees to be unreasonable. That's actually because he thinks they'd get too much of the sale proceeds before any distribution to creditors (leaving him to make up some of the difference post-acquisiton.

He's been making a habit lately of buying distressed retailers out of administration, so I would imagine he's got a pretty shrewd idea of what administration fees should look like,
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Other than the fact his purchase of House of Fraser has been a sh*t show
 
Shambo said:
Only a points deduction if they are still in administration on July 1st, but a buyout should fix that
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Also depends on how much they pay back the creditors, if they don't agree to pay back 25% over 2 years or 35% over 3 years (figures could be off) then they will get another points deduction I believe.
 
Why does it seem as though the administrators don't want to sell the club!!

The EFL has today informed the Administrators at Derby County that following the failure of Mr Chris Kirchner to conclude a sale of the Club, it is changing the terms of the suspended Notice of Withdrawal issued when the Club entered into administration in September 2021.

The League is increasingly concerned that the ongoing delays in the sale process now present a real risk to the integrity of next season’s competition, with the 2022/23 fixture list due to be released in less than two weeks, and need to act now in the best interests of the EFL.

The suspension of the Notice of Withdrawal of the Club’s share in the EFL is subject to conditions that, in accordance with the League’s insolvency policy, the EFL Board determine and given the lack of progress by the Administrators to finalise a transaction, it now considers it appropriate to revise the conditions of suspension.

As a result, the EFL has informed the Administrators that there will be a revision to the conditions attached to the suspension and the EFL is now to be made a party to all correspondence and discussions between the Administrators, and any and all potential bidders, with an acknowledgment that the League will be able to negotiate directly in relation to matters concerning the transfer of the share in the EFL.

Trevor Birch said: “Following this latest setback for the Club and its fans, it is vitally important that a sale of the Club is concluded at the earliest opportunity and we want to ensure that this objective is achieved.

“Up until now we have provided the Administrators with the time and opportunity to manage the sale process but with the long stop date on the asset purchase agreement and the membership agreement now passed, further urgent proactive action is required in order to do whatever is possible to secure the Club's future as a continuing member of the EFL.”
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billingham-mackem said:
Why does it seem as though the administrators don't want to sell the club!!
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Maybe because they are appointed by the creditors and they see more value in the physical assets than the club itself
Shambo said:
Only a points deduction if they are still in administration on July 1st, but a buyout should fix that
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If EFL are not satisfied that they have finances in place to complete the season by time fixture lists are published I doubt that they’ll get to july 1st
 
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bahtat said:
Maybe because they are appointed by the creditors and they see more value in the physical assets than the club itself

If EFL are not satisfied that they have finances in place to complete the season by time fixture lists are published I doubt that they’ll get to july 1st
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only secured creditors...and if the assets were worth more than the debts..by definition it wouldnt be bust!
derby doesnt have many assets..
 
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