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Derby charged under FFP rules...

Discussion in 'Hull City' started by originallambrettaman, Jan 16, 2020.

  1. originallambrettaman

    originallambrettaman Mod Moderator
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    It seems the Administrators are trying to sell Derby via Twitter...

     
    #141
  2. The B&S Fanclub

    The B&S Fanclub Well-Known Member

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    I might be tempted to put in a cheeky offer!
     
    #142
  3. tigerscanada

    tigerscanada Well-Known Member

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    :emoticon-0105-wink:

     
    #143
  4. The B&S Fanclub

    The B&S Fanclub Well-Known Member

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    One of Harrison Ford's first films.

    To quote Michael Caine. 'Not a lot of people know that, and stop throwing those bloody spears.'
     
    #144
  5. tigerscanada

    tigerscanada Well-Known Member

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    Mackenzie Phillips' first film too. Sad story there to be sure.
     
    #145
  6. Mr Hatem

    Mr Hatem Well-Known Member

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    Your books must be doing well!
     
    #146
  7. The B&S Fanclub

    The B&S Fanclub Well-Known Member

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    If only!! Indie crime writers like myself tend to be stony broke. Still a great pastime.
     
    #147
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  8. Mr Hatem

    Mr Hatem Well-Known Member

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    Derby County owe £15m to MSD Holdings, it has been confirmed by the US investment group.

    The detail is included within MSD's annual financial statements.


    MSD has become a significant presence in English football, lending money to a number of Premier League and Championship clubs, including Burnley and Derby.

    The Rams went into administration last month amid spiralling losses, triggering a 12-point deduction.

    In a statement, MSD says it has "loan investments in four UK football clubs" at an amortised cost of $208m (£153.47m) and that they "believe the company's exposure to new opportunities will grow over the upcoming years".

    It has become common practice in recent years for Premier League clubs to borrow TV money in advance of central distribution to provide more flexibility in the transfer market.

    As a second-tier club, Derby have no access to those funds.

    And MSD confirmed that "one of the underlying borrowers associated with a £15m loan entered administration".

    However, the statement added that "the company holds collateral well in excess of the loan's outstanding principal and interest".

    This is understood to be against Derby's Pride Park Stadium.

    In addition to this sum, Derby are known to owe HMRC in excess of £20m, plus significant sums to other football creditors, including former manager Phillip Cocu, ex-captain Richard Keogh, and Arsenal, who have deferred the remaining £8m they are owed for Polish defender Krystian Bielik.

    Club sponsor 32Red has offered to advance payments for the remainder of the season to help Derby in the short-term but the administrators have said they will need to borrow money at some point.

    BBC
     
    #148
  9. Amin Yapusi

    Amin Yapusi Well-Known Member

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    I wonder how many other creditors have money secured against pride park?

    What a sorry situation.
     
    #149
  10. Amin Yapusi

    Amin Yapusi Well-Known Member

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    More on The club’s debt to MSD:

    MSD, as well as the security of Pride Park Stadium & Moor Farm, have a debenture which captures all assets ahead of unsecured creditors, includes book debt, stocks, players, share capital & goodwill.

    MSD Holdings filed 31/12/20 accounts. Confirms that one borrower with £15m debt at 31/12/20 went into administration, and since 31/12/20 top up loan £4m advanced.

    MSD debt appears to be £19m + interest estimated at 9% payable quarterly.
     
    #150

  11. Idi Amin

    Idi Amin Well-Known Member

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    Will Derby have to offload assets in January? As in players?
     
    #151
  12. The B&S Fanclub

    The B&S Fanclub Well-Known Member

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    But do derby county own pride park? I thought Mel what's his face sold it to one of his other businesses. Therefore it's not a DC assest.
     
    #152
  13. Mr Hatem

    Mr Hatem Well-Known Member

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    They probably lent him some of the money to buy Pride Park.
     
    #153
  14. The B&S Fanclub

    The B&S Fanclub Well-Known Member

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    Expect to see the names Rooney W. and Rosenior L. making a comeback sooner rather than later.
     
    #154
  15. Amin Yapusi

    Amin Yapusi Well-Known Member

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    Yes, Mel Moron bought it off the club. Hopefully that means that he will end up getting bitten somehow, but I bet he walks away into the sunset without a scratch upon his finances. The **** him.
     
    #155
  16. The B&S Fanclub

    The B&S Fanclub Well-Known Member

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    Slightly off topic, I see Barcelona president admits they are $1.55 billion in debt. What's that circa £1 billion.
    Sort of makes Derby's £60 million look like loose change.
     
    #156
    Last edited: Oct 7, 2021
  17. Shark Sports

    Shark Sports Well-Known Member

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    Yes, the administrators will sell anyone they can and usually at a knockdown price. If we've got new owners we should be going for Sibley
     
    #157
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  18. Asterix

    Asterix Well-Known Member

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    "but the administrators have said they will need to borrow money at some point." I want to be an administrator, piece of piss. You can't pay anybody back any of the money you them, but, hey, no worries, we will just borrow some more to pay them.

    Who in their right mind is going to lend Derby a penny, never mind thousands or even millions? MSD seem to have first dibs on all the goodies. Then isn't it football creditors before anyone else?

    And the 20 million owed to the Inland Revenue. Just short of what City owed the IR when Papa stepped in to ward off the winding up order.
     
    #158
  19. Howdentiger2

    Howdentiger2 Well-Known Member

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    Pretty sure in that situation the HMRC get first dibs on any money
     
    #159
  20. Blaknamberblood

    Blaknamberblood Well-Known Member

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    All this and they still have a 9 point deduction (potentially) to come following the financial irregularities investigation, deep doo doo me thinks
     
    #160

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