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No, Forest definitely. I’ve not read the club statement, but, apparently, there were plenty of references to Covid in it, when the truth is that they’d been sailing really close to the wind for years before Covid was heard of. Feel sorry for the fans, but that club deserves all it’s getting and more.
Derby are a big club and I feel sorry for their loyal fans
Much prefer them to forest , Sheffield United etc
We have been so close to sliding away like they look they are going to
Mel Morris is apparently worth £500m.
Should pay all the debts off.
Burton v Derby in League 1. Who would have thought it?
The players don`t become free agents - that only happens in a Liquidation. One of the problems the Administrators will have is how to reduce the wage bill as no-one can be sold outside the transfer window and players are highly unlikely to agree to a cancellation of their contracts. One strategy used before in football club Administration is to try and do a deal with players , paying up part of their future contract income - this reduces the longer term club liability (making it more attractive for a buyer), gives the player some immediate cash and leaves them free to join a club with no transfer fee involved in January.
All football debts have to be paid in full . including transfer fee instalments and player wages (subject to a deal being done as above) and all secured creditors also paid so that a creditor with a charge over the ground or other assets either gets paid off or the debt taken on by the new owner. Also all non-secured non football debts have to be paid at least 25% of the amounts they are owed. Only if the above conditions are met can a club come out of Administration. Otherwise it will have to go into liquidation like Bury.
Wycombe are, quite rightly, furious: https://www.bbc.co.uk/sport/football/58622433
You are quite right and I was wrong to mention liquidation in the manner I did. The current Administration period of 12 months will shortly come to an end (the Administrator may apply for an extension if he can convince the court that there is a realistic prospect of getting an asset sale away in the near future but an extension grant is not a "given".) If the Administration fails then liquidation will follow.
The position in the Administration does not look good according to the Administrators report to creditors. No assets have bee realised apart from some credit card payments for prior services provided and most of that cash has gone in legal fees. There has been insufficient money for even paying the Administrator himself. The report suggests that there have been a number of parties expressing an interest in buying the stadium asset but only two firm offers and neither of those eventually progressed. The report also says that there is no prospect of any creditor being paid anything other than those who have a charge over the stadium and the figures suggest that even they will suffer a shortfall.
Previous arrangements with creditors (CVAs) have failed because promised payments to creditors were not made.
Derby docked twelve points, what about the other nine?
https://www.bbc.co.uk/sport/football/58649432
The 12 point deduction is an automatic one for going into Administration. I am told that EFL want to apply a further 9 point deduction next season for the breaches of other EFL Rules that Derby have made. If they applied them this season Derby would almost certainly get relegated but would then start next season with a clean slate and have , to a degree, got away with one set of breaches.
I know the firm (Quantuma)who the Administrators work for and they are good. Also Trevor Birch the EFL CEO is himself a highly experienced Insolvency Practitioner so both sides of future negotiations and discussions certainly know their jobs in dealing with Derby.
Wonderful. The other 9 under the carpet ??
Blame Pack. If he'd done what he usually does and blasted the ball into Row Z, rather than score and keep Derby up at the end of last season, Derby would have been relegated and the Jacks would be relegated this season. Never was a goal less welcome. As it stands, Derby and Forest look nailed on for relegation this season. Unless, last match of this season, Derby need 3 points against us to finish 4th from bottom, Pack...clear through on goal (as if), shoots/misses an open goal and keeps Derby up.