r00fie1
Well-known member
I honestly dont know - but its a debt - I hope they have to pay interest.
Someone will know.
If not - it might provide a small incentive to get it sorted - quick.
Bit of Derby info ive been told
- Thread starter Steve8778
- Start date
Someone will know.
If not - it might provide a small incentive to get it sorted - quick.
RedAsABeetroot
Well-known member
Everyone else is so you'd guess so. The interest bill will probably be more than they're worth by the end of the season.
RedAsABeetroot
Well-known member
Because their fans took the p1ss and then them and Quantuma tried to divert the blame onto our Chairman.
Jonny_Rondos_Disco_pants
Well-known member
Bids are in I believe, its up to the EFL to assess whether they fulfil criteria and agreements with paying off hmrc etc.
There was talk earlier that if these bids fall short then the only other option is for Mel to buy the club and join the assets up again but that would require him passing the fit and proper persons test
There was talk earlier that if these bids fall short then the only other option is for Mel to buy the club and join the assets up again but that would require him passing the fit and proper persons test
r00fie1
Well-known member
I wouldnt mind Newy - but the whole scenario makes a mockery out of the rest of us.
It exposes the Football League as jelly-fish-in-suits.
Whose got their hand up Derby`s arz?
Who controls and owns Quantum?
........mmmmm
HundredRoom
Well-known member
yes and not for the first time
r00fie1
Well-known member
What do we know about Andrew Hosking, Andrew Andronikou, and Quantuma? Derby County’s likely administrators » The72 - Football League News
Derby County are entering into administration and The Athletic has revealed that Andrew Hosking and Andrew Andronikou of Quantuma are likely to be the club's joint administrators. Derby County revealed last Friday that they were filing for administration. It's plunged the club into great doubt...
the72.co.uk
What do we know about Andrew Hosking, Andrew Andronikou, and Quantuma? Derby County’s likely administrators
Hosking is a managing director within the restructuring team at Quantuma. He’s worked some high-profile administration cases down the years with arguably his most notable coming with Hellas Telecommunications II – Europe’s biggest pre-pack administration case.
Hosking has also worked cases within the oil sector, with his custom spreading across the globe to the likes of Hong Kong and the British Virgin Islands.
The Athletic also report that Hosking was the administrator who brought MK Dons through their period of hardship following the dissolving of Wimbledon FC in 2004.
Andronikou meanwhile may be remembered for his previous involvements with Portsmouth.
He’s another managing director at Quantuma working alongside Hosking, with his work having also reached the corners of the globe and in different sectors ranging from retail to being the administrator of European supermarket chains.
Previously though, Andronikou oversaw Portsmouth’s administration back in 2010. They became the first Premier League club to enter into administration and found themselves relegated into the Championship that season.
Two years later the club would again be appointing an administrator. Andronikou though was already overseeing the administration of Portsmouth’s parent company Convers Sports Initiatives which meant the club had to find new owners.
The club had recommended that Andronikou oversaw their second administration process but instead, Trevor Birch was appointed to which Andronikou (who was working on behalf of UHY Hacker Young at the time and not Quantuma) was unhappy with.
Andronikou was set to become Portsmouth’s administrator before HMRC ruled that he had a conflict of interest given his previous administration, and also his ties to Convers Sports Initiatives, and so Birch took over the administration process.
Later on in 2012, Andronikou was fined £5,000 and paid costs of £6,500 as dealt by the The Institute of Chartered Accountants in England and Wales, for ‘manifestly inappropriate conduct in relation to a client going through personal insolvency proceedings in 2007.
There remains hope for Derby County nevertheless. In the The Athletic’s report that write that the chance of the club liquidating is ’50/50′ but times are going to get much harder for the club, and all the can do is keep on performing on the pitch in hope that there’s an end to this saga.
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newyddion
Well-known member
Yeah, then they got thumped and their club is still going down the pan.
newyddion
Well-known member
The Football League, The Premier League, The FA.. all the same. Mel Morris instructed Quantuma so his interests will be looked after, his loses kept to a minimum. Plus they won’t be doing it for free.. they’ll bleed the club dry!
S7DiscoDown
Well-known member
We need a definitive date. Why does the EFL keep extending deadlines?
I mean some of us have that 'party' to arrange
I mean some of us have that 'party' to arrange
That was a great week. Gibson hammered Morris off the pitch and then the next day we battered them on the pitch.
Smoginexile
Well-known member
Mel Morris should be made to pay what his club owes.
I know legally he doesn't have to but the law is wrong.
He ran up the debt. He should pay it. He has the money
He tried to cheat the system and from where I am looking he has succeeded.
It's Derby, taxpayers and football who are paying for his crimes.
I know legally he doesn't have to but the law is wrong.
He ran up the debt. He should pay it. He has the money
He tried to cheat the system and from where I am looking he has succeeded.
It's Derby, taxpayers and football who are paying for his crimes.
Steer
Well-known member
I personally think that the administrators are doing as they have from the very beginning - playing a dangerous game of chicken, and I think that at the last possible moment a takeover deal will be accepted.
Can't Wayne Rooney buy the club? - he must have got a few hunderd million squirrelled away.
Can't Wayne Rooney buy the club? - he must have got a few hunderd million squirrelled away.
r00fie1
Well-known member
Am I right in thinking that deliberate non-payment of tax is a criminal offence and anyone found guilty can be sent to prison?
StillCantPickAUsername
Active member
I do believe we are also up to our eyeballs in debt and our chairman sails as close to the edge of the rules that are allowed. All it takes is one or two wrong decisions (which has happened in the past) or one or two bad seasons (which has also happened) and we’d be in a similar position to Derby County.Why dont the Revenue demand immediate payment?
How many small businesses and independent traders would be allowed to amass such a huge debt to public funds and still be trading?
Stuff em off!
Didnt see any sympathy for Bury or Bolton .......
And which other clubs are still smiling whilst up to their neck in debt [Sheffield Wednesday? Reading? Bristol City...]
Whats so blummin special about Derby, or any other club?
Pay up or get out.
[With apologies to Carmen XXX
The big, huge difference is we have Steve Gibson who loves the club and is happy to write the huge debts off but all it takes is a change of heart or a change of business fortune (which has happened to a lot of huge companies over the last year) and that all changes.
Gazboroontour
New member
What goes around, comes around. They have blatantly flaunted the rules and cheated, when they knew the EFL guidelines. Then their club attempted to lay the blame on Boro and Wycombe as to why they cannot proceed with the admin process, they still haven't got a buyer? I feel sorry for the genuine derby fans not those who taunted Boro as they couldnt see through the sheep's wool pulled over their eyes. We as a club are lucky in that we have a fantastic chairman who is one of our own UTB
BoroMart
Well-known member
It does, just not to teams as big as Derby.
The fact is buying Derby at this point, is purely about paying off the minimum debt, you barely get any playing contracts and you get nothing in the way of bricks and mortar. You are effectively buying a brand name and a golden share in the third tier of english football, which isn't really profitable. Third tier is effectively a lottery ticket to premier league wealth.
So let that take stock for your 50m, you buy a brand name, 5 players, and a lottery ticket. You also commit to multiple years of losses, an initial extra outlay on signing 15 players, and agreement to rent a stadium.
It's a mess
BoroMart
Well-known member
Hello new user,
1 - We are high debt, but all effectively to gibson who won't call it in.
2 - we far from sailed close to the edge with FFP this season. We had plenty of wiggle room and will have more next year
3 - we've had one or two wrong decisions, that didn't get us into trouble. What would get us into a Derby situation is Gibson calling it a day and wanting his money back, unlikely
r00fie1
Well-known member
I dont believe we are up to our eyeballs in debt - as far as Im aware - no Championship club hasnt recorded a loss during the Covid period.
No company makes an operating profit whilst [during Covid] having to pay out wages and honour contracts, without active revenue streams, such as advertisers, sponsors, TV income, ticket sales, season cards and merchandising. We operate within the rules set by FFP and dont break the law by deliberately not paying our Taxes, fiddling our accounts, over-inflating player-values and using hard infrastructure - Pride Park - to cover unserviceable debts.