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Hagar the Horrible
6 minutes ago, jamboinglasgow said:

 

 

The reality is not hitting them and they need to wake up and face facts, otherwise their club could go under.

I think we got a get out jail free card.  we were lucky we paid off what we needed to do legally at the time and the creditors were mostly Ukio Bankas (Vlad) who was happy with the deal.  I dont think their fans fully accept the reality is that they are dead but if the act they COULD save their club, but I get the feeling they think they are too big to go under and that a benefactor will buy then and return them back to normal service.  They sold their stadium for £80m and it just disapeared into a footballing black hole. They still went into Admin, which was always going to be the case, they used amorisation as a mechanism to overvalue their playing staff as assets. they will lose them all.  and even if they do come out of admin, they will have to accept that they are now a Forest Green or a Harrowgate, and NOT a Permiership sized club.

 

In the past Admin was a way to save the club, now its a death sentence

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Captain Canada

It's never nice to see this happening and the kinds of figures being quoted are likely to put off most potential buyers. 

 

If they get deducted another 9 points for the accounting side of things, as has been suggested, there's very little chance they'll stay up and it will further compound the issue of finding a new owner.

 

I hope I'm wrong but things look very bleak for Derby with probably worse still to come. 

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jamboinglasgow
52 minutes ago, Hagar the Horrible said:

I think we got a get out jail free card.  we were lucky we paid off what we needed to do legally at the time and the creditors were mostly Ukio Bankas (Vlad) who was happy with the deal.  I dont think their fans fully accept the reality is that they are dead but if the act they COULD save their club, but I get the feeling they think they are too big to go under and that a benefactor will buy then and return them back to normal service.  They sold their stadium for £80m and it just disapeared into a footballing black hole. They still went into Admin, which was always going to be the case, they used amorisation as a mechanism to overvalue their playing staff as assets. they will lose them all.  and even if they do come out of admin, they will have to accept that they are now a Forest Green or a Harrowgate, and NOT a Permiership sized club.

 

In the past Admin was a way to save the club, now its a death sentence

 

Completely agree, we got very lucky. The debt was with a company that was going through admin itself. 

 

English football is got so many basket case clubs racking up huge debts and just staying on the side of solvency. But too many see Admin as a way to restart and move on rather than what it is, which is the last chance to save a company before it goes out of business. The problem for clubs now is those giving money to clubs have got wise to admin and are setting up ways that they can still be owed the money even if creditors agreement for pennys in the pound is agreed.

 

Derby County should be a wake up call to all the other clubs in the league and their fans, but they wont be. Also think there is an attitude in these clubs of "well someone will buy us and we will be fine." Problem is the kind of people who buy a club on its knees with lots of problems is usually not a person who you want running your club as they look to strip the club for value. We knew there was not really anyone who could ride in and save us, so forced the fans to work together and buy the club.

Edited by jamboinglasgow
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