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 Badger

Derby - deal to end administration is collapsing

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23 hours ago, Badger said:

It seems that a local businessman has loaned Derby enough money to continue trading and start the season.

He is rumoured to be one of the interested parties in taking over the club. I wonder what would happen if he fails to get it over the line and the new owner refuses to include this new loan as part of the deal to buy the club?

 

Image

https://www.clowesfund.org

Looks like more American investors.

As the £ plummets and the FED rises faster than the BOE its going to be supermarket sweep. 

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53 minutes ago, Fromage Frais said:

https://www.clowesfund.org

Looks like more American investors.

As the £ plummets and the FED rises faster than the BOE its going to be supermarket sweep. 

I am not sure - I thought that the Clowes were local property developers? I may be wrong - I will try to find out.

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23 hours ago, shefcanary said:

They have acquired the stadium, so pretty much done deal for them now I have to assume.  But having the stadium owned by a Property Development Company should up the anti in the boardroom for the team manager!

You know infinitely more about this than I. Whilst I can see that owning the ground and making a loan makes it easier for the administrators, surely the their responsibility is to get the best deal for creditors? What if Ashley offers a higher percentage to unsecured creditors than Clowes?

I was convinced that Ashley would end up with Derby!

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51 minutes ago, Badger said:

You know infinitely more about this than I. Whilst I can see that owning the ground and making a loan makes it easier for the administrators, surely the their responsibility is to get the best deal for creditors? What if Ashley offers a higher percentage to unsecured creditors than Clowes?

I was convinced that Ashley would end up with Derby!

I don't know either, but I don't get the impression that Clowes or the group are mega-rich, in footballing terms. They may be in effect middlemen. And there is still the question of the £30m owed to the Revenue. My feeling has always been that the Revenue cannot afford to cave in on that, at least to any great extent.

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3 hours ago, Fromage Frais said:

Looks like more American investors.

1 hour ago, PurpleCanary said:

I don't know either, but I don't get the impression that Clowes or the group are mega-rich, in footballing terms. They may be in effect middlemen. And there is still the question of the £30m owed to the Revenue. My feeling has always been that the Revenue cannot afford to cave in on that, at least to any great extent.

I checked FF, they are a Derbyshire-based company. 

As you say Purple, Clowes does not seem mega-rich by football owners standards. he was in the Sunday Times rich list as being worth £250 million. Seems strange to me that he could outbid Ashley, even though taking over the ground seems to give him a "big card" to play.

Re HMRC, I have the feeling from what I have read that there is an assumption they "will take a haircut" but this is only repeating what others have suggested - 15% of something is better than 100% of nothing - but if it is true, it is a bad precedent. Given that the ground had had to be bought separately and they hardly have any players bidders are essentially buying the brand name.

There has even been "talk" of bidders being in negotiation to not pay the 15% due by EFL rules and trying to force the EFL to back down on the automatic points deduction this would incur. This is essentially blackmail - if you deduct the points, no deal and Derby goes under and the EFL will be seen as the cause. Whether any of this is true, I have no idea - it is just stuff that I have seen in the media, which we know is not the most reliable of sources at times. 

What we do know is that Wayne Rooney quit last night and Derby have sold a highly promising youngster to Palace (Malcolm Ebiowei) - described by the Athletic as "one of the brightest talents in English football."

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Rooney resigning suggests to me that Clowes have won the battle - as Rooney doesn't fancy managing without a budget he's resigned to find someone with deeper pockets to feed his ego!

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Posted (edited)
19 hours ago, shefcanary said:

Rooney resigning suggests to me that Clowes have won the battle - as Rooney doesn't fancy managing without a budget he's resigned to find someone with deeper pockets to feed his ego!

According to the article below, Clowes is still at the stage of seeking cash backers to help him buy the club. Yet somehow, he is still seen as the favourite (because of ground ownership I imagine). 

It's almost as if the administrators are spinning this out as long as possible to maximise their fees!

https://www.derbytelegraph.co.uk/sport/football/football-news/derby-county-takeover-clowes-reilly-7256718

Edited by Badger
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1 hour ago, Badger said:

According to the article below, Clowes is still at the stage of seeking cash backers to help him buy the club. Yet somehow, he is still seen as the favourite (because of ground ownership I imagine). 

It's almost as if the administrators are spinning this out as long as possible to maximise their fees!

https://www.derbytelegraph.co.uk/sport/football/football-news/derby-county-takeover-clowes-reilly-7256718

Yet looking on the derby forum they are saying the takeover is now guaranteed and complaining about the EFL saying they still can't sign anyone...they should be bloody grateful the EFL are letting them start the season at all!

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21 hours ago, shefcanary said:

Rooney resigning suggests to me that Clowes have won the battle - as Rooney doesn't fancy managing without a budget he's resigned to find someone with deeper pockets to feed his ego!

Much as he did a great job at Derby think it should be obvious he was using it as a stepping stone to try and get a job at a bigger club

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