£29mill owed to HM Revenue
Tue Nov 23, 2021 8:01 am
Derby County and connected firms owe £29m to HM Revenue and Customs
BBC
22nd November 2021
Administrators are seeking a buyer for Derby County
Derby County and the club's connected companies owe a combined £29.3m to HM Revenue and Customs (HMRC), according to figures released on Saturday.
The Championship club have been in administration for almost two months.
Earlier this week, Derby were given an overall 21-point deduction by the English Football League that has cut them adrift at the bottom of the table.
The true scale of the club's financial problems had not been known until now.
Derby's six connected companies have all updated their records with Companies House, showing a combined overall total of £29.3m owed to HMRC. They also show a £20m loan received from US investment group MSD Holdings, which was already known about.
In addition, a combination of football and trade creditors are owed around £15m.
These are the debts, in addition to more money owed to former owner Mel Morris, that the administrators need to renegotiate before they can sell the club, which they still hope to do at some point in January.
On that list of creditors, Derby owe £8.37m in outstanding player registration fees, plus a further £504,000 in agents' commission. This is believed to be connected to the deals that saw Krystian Bielik join Derby from Arsenal in 2019 and Kamil Jozwiak move to Pride Park from Lech Poznan in September 2020.
More than £1m is owed to the Wasserman agency, while the Triple S Sports Management company, owned by manager Wayne Rooney's long-time adviser Paul Stretford, is owed £60,000. St John Ambulance is owed £8,000.
BBC
22nd November 2021
Administrators are seeking a buyer for Derby County
Derby County and the club's connected companies owe a combined £29.3m to HM Revenue and Customs (HMRC), according to figures released on Saturday.
The Championship club have been in administration for almost two months.
Earlier this week, Derby were given an overall 21-point deduction by the English Football League that has cut them adrift at the bottom of the table.
The true scale of the club's financial problems had not been known until now.
Derby's six connected companies have all updated their records with Companies House, showing a combined overall total of £29.3m owed to HMRC. They also show a £20m loan received from US investment group MSD Holdings, which was already known about.
In addition, a combination of football and trade creditors are owed around £15m.
These are the debts, in addition to more money owed to former owner Mel Morris, that the administrators need to renegotiate before they can sell the club, which they still hope to do at some point in January.
On that list of creditors, Derby owe £8.37m in outstanding player registration fees, plus a further £504,000 in agents' commission. This is believed to be connected to the deals that saw Krystian Bielik join Derby from Arsenal in 2019 and Kamil Jozwiak move to Pride Park from Lech Poznan in September 2020.
More than £1m is owed to the Wasserman agency, while the Triple S Sports Management company, owned by manager Wayne Rooney's long-time adviser Paul Stretford, is owed £60,000. St John Ambulance is owed £8,000.
Re: £29mill owed to HM Revenue
Tue Nov 23, 2021 6:13 pm
These have been rumours for quite a while now and all Derby fans I know up here have been expecting this.
This is why all the fans accepted such penalties because its been on the cards for a while. None of them want to go down to League one, some feel they will avoid it, but are preparing themselves. Their biggest challenge if they are to go down is facing up to us lot on the last day of the season. Of course we are not out of it yet but if we do manage to avoid the drop then it will be like rubbing salts into their wounds.
This is why all the fans accepted such penalties because its been on the cards for a while. None of them want to go down to League one, some feel they will avoid it, but are preparing themselves. Their biggest challenge if they are to go down is facing up to us lot on the last day of the season. Of course we are not out of it yet but if we do manage to avoid the drop then it will be like rubbing salts into their wounds.
Re: £29mill owed to HM Revenue
Tue Nov 23, 2021 8:07 pm
God forbid there's anything riding on the game when we go there doesn't bare thinking about.
Re: £29mill owed to HM Revenue
Wed Nov 24, 2021 12:09 am
skiprat wrote:God forbid there's anything riding on the game when we go there doesn't bare thinking about.
I'm sure there won't be (regardless of Derby staying up or going down) but what an away day it will be in with an 'On the Piste' themed Fancy Dress day...!
Re: £29mill owed to HM Revenue
Wed Nov 24, 2021 4:00 am
Bakedalasker wrote:These have been rumours for quite a while now and all Derby fans I know up here have been expecting this.
This is why all the fans accepted such penalties because its been on the cards for a while. None of them want to go down to League one, some feel they will avoid it, but are preparing themselves. Their biggest challenge if they are to go down is facing up to us lot on the last day of the season. Of course we are not out of it yet but if we do manage to avoid the drop then it will be like rubbing salts into their wounds.
Might have to fly back to the UK for that one. Snowman fancy dress anyone?
Re: £29mill owed to HM Revenue
Wed Nov 24, 2021 11:44 am
They have no way of paying that bill of £29,000,000
No one in their right mind would buy a business with that much debt and very little chance of accruing revenue over the next 5 years.
SO they are f u c k'd in every way possible.
Options :-
Sell the ground and lease it back - maybe a hedgefund or pension fund would buy it
Sell all the players and play kids from their academy - if they have one - League 2 within 2 years
Go bust - sell the assets in order to pay HMRC. Anyone with any nous would have seen this coming and sell the ground to another company for a small fee as well as sold all the other assets - so the club has nothing - then the club pay back £1 a week for the next 28,000,000 weeks
No one in their right mind would buy a business with that much debt and very little chance of accruing revenue over the next 5 years.
SO they are f u c k'd in every way possible.
Options :-
Sell the ground and lease it back - maybe a hedgefund or pension fund would buy it
Sell all the players and play kids from their academy - if they have one - League 2 within 2 years
Go bust - sell the assets in order to pay HMRC. Anyone with any nous would have seen this coming and sell the ground to another company for a small fee as well as sold all the other assets - so the club has nothing - then the club pay back £1 a week for the next 28,000,000 weeks
Re: £29mill owed to HM Revenue
Wed Nov 24, 2021 1:17 pm
nubbsy wrote:Bakedalasker wrote:These have been rumours for quite a while now and all Derby fans I know up here have been expecting this.
This is why all the fans accepted such penalties because its been on the cards for a while. None of them want to go down to League one, some feel they will avoid it, but are preparing themselves. Their biggest challenge if they are to go down is facing up to us lot on the last day of the season. Of course we are not out of it yet but if we do manage to avoid the drop then it will be like rubbing salts into their wounds.
Might have to fly back to the UK for that one. Snowman fancy dress anyone?
I'm ready.
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