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Direby
Sept 18, 2021 6:51:22 GMT
via mobile
Post by jasonspineapple on Sept 18, 2021 6:51:22 GMT
Anyone understand the points deductions? Sky are suggesting 21 points deduction. 9 for breaking FFP rules (+3 suspended) and automatic 12 for entering Administration. Automatic 12 for admin. Already confirmed by the efl that this will be deducted once the paperwork is in. -9 still a possibility for breaching ffp (with further 3 suspended). Unclear whether this counts as double punishment… or a separate offence. If administrators aren’t appointed in time and the wages don’t get paid, then there’s another 3 deducted owing to previous suspended 3 points agreed for failing to pay players. So anywhere between -12 and -24. I’d quite like Buchanan and bielik for £750k in january |
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Direby
Sept 18, 2021 7:07:15 GMT
Post by ripleyrich on Sept 18, 2021 7:07:15 GMT
Anyone understand the points deductions? Sky are suggesting 21 points deduction. 9 for breaking FFP rules (+3 suspended) and automatic 12 for entering Administration. Automatic 12 for admin. Already confirmed by the efl that this will be deducted once the paperwork is in. -9 still a possibility for breaching ffp (with further 3 suspended). Unclear whether this counts as double punishment… or a separate offence. If administrators aren’t appointed in time and the wages don’t get paid, then there’s another 3 deducted owing to previous suspended 3 points agreed for failing to pay players. So anywhere between -12 and -24. I’d quite like Buchanan and bielik for £750k in january There are also further points for Admin if 25% debts not settled with creditors after 2 years. Also all Preferential Creditors have to be settled in FULL. At present there is only 1 named Preferential Creditor.....HMRC. What is that bill?
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Direby
Sept 18, 2021 7:30:46 GMT
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Post by jasonspineapple on Sept 18, 2021 7:30:46 GMT
I don’t think they can worry about 2 years in advance at this point.
The tax bill is allegedly in the region of £20-25million
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Direby
Sept 18, 2021 7:42:18 GMT
Post by ripleyrich on Sept 18, 2021 7:42:18 GMT
I don’t think they can worry about 2 years in advance at this point. The tax bill is allegedly in the region of £20-25million On the face of it, DCFC in admin represents an interesting opportunity for someone wanting to buy an EFL club. But, a Tax Bill like that is a massive undertaking to take on before looking at other investment into the Club.
I honestly fear this could be the end of DCFC as we know it.
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Direby
Sept 18, 2021 7:53:01 GMT
via mobile
Post by jasonspineapple on Sept 18, 2021 7:53:01 GMT
They have few assets owned by the club. The stadium is obviously separately owned by Morris. It’s rumoured the academy is also owned separately by the msd dell corporation. Very few saleable players. The likes of jagielka Davies stearman etc won’t bring any sort of a fee.
So how do the administrators raise the required funds?
Also unclear what is in the wages pot from Morris to keep paying the wages going forwards. If there isn’t enough/anything then this is further debt to be inherited by any prospective owner.
You can see why the efl wanted assurances as to their ability to finish the season. And still derby fans thought the efl just had it in for them!
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Direby
Sept 18, 2021 9:34:52 GMT
Post by jurgenrober on Sept 18, 2021 9:34:52 GMT
And don't forget this little addition to the points deduction
Under EFL rules a club entering admin will be under embargo for 2 years & must follow agreed business plan. Cannot be sold for 28 days to allow supporters trust to put together a potential buyout. The potential breach of P&S rules from 2016 onwards will carry over to new owners
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Post by NY Red Al on Sept 18, 2021 13:04:45 GMT
Funny how most other clubs survived through COVID and their troubles started way before the pandemic.
Amazing for me to say it, but I feel sorry for their fans.
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Direby
Sept 18, 2021 14:25:09 GMT
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Post by ripleyrich on Sept 18, 2021 14:25:09 GMT
Funny how most other clubs survived through COVID and their troubles started way before the pandemic. Amazing for me to say it, but I feel sorry for their fans. Absolutely Al. The fans have well and truly been shafted. |
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Post by jasonspineapple on Sept 18, 2021 15:58:05 GMT
Funny how most other clubs survived through COVID and their troubles started way before the pandemic. Amazing for me to say it, but I feel sorry for their fans. Absolutely Al. The fans have well and truly been shafted. some i feel sorry for. others I think are getting exactly what they deserve. They were all high and mighty for the last 5 years about Mel having the league on strings and giving it the big one. Even singing about it at games. Even up until last night, many were still arguing the club had done nothing wrong and that it was the EFL out to get them. A big awakening for some of them I think. Genuine fans fair enough, and people working in the lower paid run of the mill jobs behind the scenes are the ones that will suffer. Meanwhile Rooney will get all the sympathy |
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Direby
Sept 18, 2021 16:09:40 GMT
Post by NY Red Al on Sept 18, 2021 16:09:40 GMT
Rooney is probably their highest paid member of staff and his contract is probably worthless now, like everyone else.
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Direby
Sept 18, 2021 16:12:08 GMT
Post by jasonspineapple on Sept 18, 2021 16:12:08 GMT
depends whos paying him.
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Direby
Sept 18, 2021 17:11:48 GMT
Post by NY Red Al on Sept 18, 2021 17:11:48 GMT
Reminds me of Carlos Tevez and his third party ownership controversy. West Ham got fined for it, but somehow Direby got around it with Rooney. |
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Direby
Sept 18, 2021 20:07:32 GMT
via mobile
Post by jasonspineapple on Sept 18, 2021 20:07:32 GMT
Percys latest article says debt is £26million to hmrc, £6mill transfer fee instalments and £5mill to cocu
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Direby
Sept 18, 2021 21:06:05 GMT
Post by NY Red Al on Sept 18, 2021 21:06:05 GMT
Percys latest article says debt is £26million to hmrc, £6mill transfer fee instalments and £5mill to cocu That debt from the tax man could alone put them out of business. They’ll be the first in line and won’t give a damn about tolerance. Any potential new owner needs deep pockets, and then some. |
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Post by ripleyrich on Sept 18, 2021 21:40:21 GMT
Percys latest article says debt is £26million to hmrc, £6mill transfer fee instalments and £5mill to cocu That debt from the tax man could alone put them out of business. They’ll be the first in line and won’t give a damn about tolerance. Any potential new owner needs deep pockets, and then some. HMRC are a Preferential Creditor and have to be settled in full. All other creditors must receive minimum 25%. That means a minimum of £28m undertaking by any new owners just for the above stated debts. There are bound to be many more. Its huge. And the club dont own the Stadium and questions over training ground ownership too. So what do you get for your nominal quid? 30+ million of debt liability and a Stadium lease agreement. IMO, they are going under. |
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