Ironops
Well-known member
I dont know any of them really but isnt Tom Lawrence meant to be decent?
Erik Alonso's Derby County takeover in SERIOUS jeopardy !!!
- Thread starter Boro_Legend
- Start date
Colin Warnek
Well-known member
A few years ago but hasn’t been the same since the drink driving episode with Keogh and Bennett.
Norman_Conquest
Well-known member
The way they handled that saga was the start of the teams decline.
newusername
Well-known member
Have you ever bought a flat with a mortgage, that the current owner already had a mortgage on?
I don't know Derby's financial arrangements only what has been discussed on here & snippets from the press but I assume...
Mel Morris did a sale & lease back of the stadium (to realise some capital value / get under financial fair play rules).
The leasehold interest had some value and so he took a loan out & used the leasehold interest as collateral to get the loan.
Alonso wants to acquire the club and in his assessment (and one would assume of his lenders) there is sufficient value in the lease for him to take out another larger loan, one large enough for him to acquire the club from Morris.
Morris/Derby are miffed as Alonso said he had cash & so would be a straightforward purchaser, involving funders to provide loans adds time & external scrutiny* to the transaction.
*IMHO that is the biggest risk to the deal & why derby are moaning. Morris thinks Alonso is some naive rich playboy, he's pulled the wool over his eyes & is laughing all the way to the bank. All of sudden, there are some eagle eyed impassionate bean counters casting their eye over the club finances & projections before they'll lend Alonso money to buy it & now Morris is seeing his way out disappear.
The_Big_Woodowski
Well-known member
What I don't get is, if he is buying Derby, how can he re-finance against an asset that Derby don't own.
I think this is what I was trying to get across but not successfully.
the club and the stadium are two different companies was my understanding... albeit the overall same owner
newusername
Well-known member
Due to the sale & leaseback, Derby County FC will have a lease that allows them to play at Pride Park. That lease is an asset and has a value.
Morris has taken out a loan using the value in that lease as collateral.
Alonso wants to take out a bigger loan, using the value of the lease as collateral, to pay off Morris & the first loan.
Assuming it all goes through, Derby County FC will still have lease to play at Pride Park and will have to make rent payments to the landlord & also larger loan repayments to the new funder.
Morris has taken out a loan using the value in that lease as collateral.
Alonso wants to take out a bigger loan, using the value of the lease as collateral, to pay off Morris & the first loan.
Assuming it all goes through, Derby County FC will still have lease to play at Pride Park and will have to make rent payments to the landlord & also larger loan repayments to the new funder.
Norman_Conquest
Well-known member
It would be nice to know how much he is willing to sell it back to Derby for to allow the deal to go through.
Boro_Legend
Well-known member
Derby are doomed.
weemoby
Well-known member
Further to what Wilf said, how does this sit within the “Fit and Proper Person” criteria?:
“Troublingly, a man of exactly the same name – Eric Fernando Alonso Somovilla – has run for election to the senate in La Rioja, under the banner of the nationalist VOX party. I’m no expert on Spanish politics, but even cursory research reveals this party to be on the far-right fringe of politics. They are anti-immigration, particularly anti-Muslim and have campaigned against legislation brought forward to protect women from violence, on the grounds that it discriminates against men. According to a BBC profile published in 2019, they oppose abortion and same-sex marriage.”
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The_Big_Woodowski
Well-known member
Further to what Wilf said, how does this sit within the “Fit and Proper Person” criteria?:
“Troublingly, a man of exactly the same name – Eric Fernando Alonso Somovilla – has run for election to the senate in La Rioja, under the banner of the nationalist VOX party. I’m no expert on Spanish politics, but even cursory research reveals this party to be on the far-right fringe of politics. They are anti-immigration, particularly anti-Muslim and have campaigned against legislation brought forward to protect women from violence, on the grounds that it discriminates against men. According to a BBC profile published in 2019, they oppose abortion and same-sex marriage.”
derbycountyblog.com - derbycountyblog Resources and Information.
derbycountyblog.com is your first and best source for all of the information you’re looking for. From general topics to more of what you would expect to find here, derbycountyblog.com has it all. We hope you find what you are searching for!
Probably sail through...
It’s not fit for purpose
