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So we all know the plight of Derby County and the their financial situation but how are they been allowed to get away with it ?.So the latest been Kirchner pulling out to buy the club but how the hell have Derby carried on without selling assets ?.
The rumour flying around for the past few months was, there has been secret donations handed to the club to cover the players wages and the general running of the club which i questioned and said that's bollo*ks. Oh and there's poor old Wayne Rooney's reputed £70,000 a week wage to meet. Now bare in mind the only assets Derby County currently own are the players and the brand name, they do not own the ground. New owners would lease the ground back from Mel Morris the current owner who also has a £15 million debt on it. That's fine so back to it, how have Derby kept paying their huge weekly wage bill while in Administration with little or no income ?.
On the player front they got £1 million for Plange (loaned back) and £30,000 for Shinnie and £2million for Joswiak to the MLS other than that no big transfer no big income so again who's paying the wages ?. The Academy alone cost in and around £500,000 a month to run let alone the players wage of around £1.5-£2 million a month so selling the 3 players the only 3 player they have sold would amount to roughly a months wages and that doesn't take in staff, security, electric and the daily running of the club the list is endless.
MSD Holdings are reportedly owed more than £15m after Morris took out a secured loan against Pride Park and will need to be settled by Derby's former chairman. On top of that it turns out the administrators have also been borrowing yes borrowing money to the tune of £15 million from the same MSD Holdings Morris borrowed from to meet the monthly running cost of the club. This loan now now takes president over any other debt and that includes the £30 million Derby County to the HMRC.
Please for the love of me can someone explain how an administrator in charge of a company be allowed to "borrow" money to keep a company afloat while they are in Administration ?. Surely there's a law broken there borrowing £15 million for a sinking ship just to patch it up knowing there's a very good chance never fully get it back ?. I'm sorry but if this was a high street store there would be people heading for the clinker.
Imagine it was you in the sh*t and you go to the bank and ask for say 20k, the bank asks:-
,you , I want to borrow £20,000
(bank) You a home owner ?....(you) no
(bank) Have you any assets to secure the loan against ?....(you) no
(bank) How and when do you intend to pay it back ?...... (you) I don't know leave it with me
(bank) Why are you borrowing it ?..... (you) well I'm declared bankrupt and I need the money to meet my monthly outgoings till I find a job and get a mortgage but then again I might never find one
(bank) Oh right that's fine thanks for clearing things up, , there you go there's £20,000 pay us back when your straight.
(you) great I'll get spending then
Thing is, it's Derby not Bury so it makes it ok.
I say throw them out the league and now they've had more than enough help more than any other club on the planet has ever had and while they have been kept afloat they'f flaunted and broke the rules time after time. They should not be able to be included or be added to next week fixtures release that's unless they can show proof of funds for the next 12 months end of
The rumour flying around for the past few months was, there has been secret donations handed to the club to cover the players wages and the general running of the club which i questioned and said that's bollo*ks. Oh and there's poor old Wayne Rooney's reputed £70,000 a week wage to meet. Now bare in mind the only assets Derby County currently own are the players and the brand name, they do not own the ground. New owners would lease the ground back from Mel Morris the current owner who also has a £15 million debt on it. That's fine so back to it, how have Derby kept paying their huge weekly wage bill while in Administration with little or no income ?.
On the player front they got £1 million for Plange (loaned back) and £30,000 for Shinnie and £2million for Joswiak to the MLS other than that no big transfer no big income so again who's paying the wages ?. The Academy alone cost in and around £500,000 a month to run let alone the players wage of around £1.5-£2 million a month so selling the 3 players the only 3 player they have sold would amount to roughly a months wages and that doesn't take in staff, security, electric and the daily running of the club the list is endless.
MSD Holdings are reportedly owed more than £15m after Morris took out a secured loan against Pride Park and will need to be settled by Derby's former chairman. On top of that it turns out the administrators have also been borrowing yes borrowing money to the tune of £15 million from the same MSD Holdings Morris borrowed from to meet the monthly running cost of the club. This loan now now takes president over any other debt and that includes the £30 million Derby County to the HMRC.
Please for the love of me can someone explain how an administrator in charge of a company be allowed to "borrow" money to keep a company afloat while they are in Administration ?. Surely there's a law broken there borrowing £15 million for a sinking ship just to patch it up knowing there's a very good chance never fully get it back ?. I'm sorry but if this was a high street store there would be people heading for the clinker.
Imagine it was you in the sh*t and you go to the bank and ask for say 20k, the bank asks:-
,you , I want to borrow £20,000
(bank) You a home owner ?....(you) no
(bank) Have you any assets to secure the loan against ?....(you) no
(bank) How and when do you intend to pay it back ?...... (you) I don't know leave it with me
(bank) Why are you borrowing it ?..... (you) well I'm declared bankrupt and I need the money to meet my monthly outgoings till I find a job and get a mortgage but then again I might never find one
(bank) Oh right that's fine thanks for clearing things up, , there you go there's £20,000 pay us back when your straight.
(you) great I'll get spending then
Thing is, it's Derby not Bury so it makes it ok.
I say throw them out the league and now they've had more than enough help more than any other club on the planet has ever had and while they have been kept afloat they'f flaunted and broke the rules time after time. They should not be able to be included or be added to next week fixtures release that's unless they can show proof of funds for the next 12 months end of
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