Non - Derby County

Maybe because it was our team, but there did seem more "urgency" around our administration. Liquidation a real possibility. Derby on the other hand seem to be able to go on forever. Are they being funded somehow? I mean they won't be any matchday income for a while.
There was a lot of stuff going on in the background with ours.

People acting like it was a joke and using the Johnson school of forecasting.

The Football league got bored after a while.
 
Hasn't that always been the case? 30-something years ago you had Michael Knighton doing keepie uppies in front of the Stretford End before he realised that the only United he could afford was Carlisle, plus that spotty teenager at Aldershot, among others.

The story of the "spotty teenager" is here, if anyone is interested

Shot to pieces: The strange tale of Spencer Trethewy – The Football Mine

I seem to recall he was dating the daughter of somebody famous - Mike Yarwood, perhaps?
 
Is it me, or does a club drifting in administration looking for a loan to pay for current costs/wages and even for new players, seem like asking for trouble?
They would only be allowed to do this if they had very good reason to believe that they wouldn't prejudice the other creditors' positions.

So they either have someone willing to guarantee the loan or a very strong bite from a buyer who has money and is ready to go.

Not sure if Matt Reeds is on here but he's an IP and knows all about this stuff
 
If a takeover is completed.
No I don't think so.

They will take a charge against assets with a set ranking. So whether the club is liquidated or bought they will still get their money just like the administrators. The other creditors will be left to fight it out for what is left.
 

DJ

Moderator
No I don't think so.

They will take a charge against assets with a set ranking. So whether the club is liquidated or bought they will still get their money just like the administrators. The other creditors will be left to fight it out for what is left.
There aren’t many assets, hence why the takeover has been so complicated. 6 contracted players remain.

As for the pecking order of creditors. The golden share will dictate a lot of that.
 
No I don't think so.

They will take a charge against assets with a set ranking. So whether the club is liquidated or bought they will still get their money just like the administrators. The other creditors will be left to fight it out for what is left.
So the existing creditors which presumably include many small businesses will get back even less, nice.
 
They would only be allowed to do this if they had very good reason to believe that they wouldn't prejudice the other creditors' positions.

So they either have someone willing to guarantee the loan or a very strong bite from a buyer who has money and is ready to go.

Not sure if Matt Reeds is on here but he's an IP and knows all about this stuff
Though you'd think, if they do have a strong bite from a buyer who has money and is ready to go (and there does seem to be multiple potential parties), that the familiar to us Kranser line would apply:

We have money to keep the lights on until X date, that's the deadline. Need a cheque from a potential buyer by then to pay some bills, or it's liquidation.

That flushes out serious people as well as keeps the lights on?

I don't follow every football club administration closely but this is just not something I've come across before, so seemed worth exploring. Thanks!
 
There aren’t many assets, hence why the takeover has been so complicated. 6 contracted players remain.

As for the pecking order of creditors. The golden share will dictate a lot of that.
That's the problem they have. It's been going on so long that I can't see any way out unless they do as many administrators do and take a loan from the preferred bidder.
 

DJ

Moderator
That's the problem they have. It's been going on so long that I can't see any way out unless they do as many administrators do and take a loan from the preferred bidder.
Got the impression from your post that this wasn’t a loan being tied into being the preferred bidder.

As Mark alluded too, that’s standard out the of the Krasner play book.
 
Got the impression from your post that this wasn’t a loan being tied into being the preferred bidder.

As Mark alluded too, that’s standard out the of the Krasner play book.
I don't have any inside knowledge on the deal, only the work I have done on companies being bought out of administration.

There will be unencumbered assets there, but knowing how large the wage bill will be, like you say it is difficult to imagine a suitable loan could be covered with a few lawnmowers and washing machines.

The truth though is that if you can charge enough in interst and fees you can cover the risk.