Reporter comments on tweet underline serious situation facing Derby County
In a tweet (below) from respected Telegraph reporter John Percy, the situation facing Derby County is laid bare.
On #dcfc ‘takeover’: players still been not paid and understand Derby have sought another loan from MSD. Money in bank now very low and a genuine threat of administration if this is not sorted ASAP.
— John Percy (@JPercyTelegraph) January 13, 2021
The Rams are deep into a takeover and that is yet to nudge itself into the light of day. It isn’t light that Percy is painting in the above tweet.
What Percy’s tweet highlights?
In Shakespeare’s Hamlet, Marcellus says after Hamlet walks off with the ghost of his father that there was something rotten in the state of Denmark.
Whilst Percy’s tweet doesn’t drop to those depths, it does indicate that things are not thought right at Pride Park.
Percy’s tweet highlights a number of issues: December wages not paid to the playing staff, the takeover isn’t done, loans being sought, funds low and the spectre of administration looming.
It was only three days ago that the very same writer tweeted that he’d been “assured” that the Derby takeover would be completed this week – Percy writing about it in more depth for The Telegraph.
Wages and takeover – a backstory
At the end of last year, in a jointly-authored Telegraph article, Percy and Mike McGrath put forward this issue of wages. The reason for the delay was said to be processes to do with the sale of the Rams by Mel Morris to Derventio Holdings, a company owned by Sheikh Khaled bin Zayed Al Neheyan.
Percy and McGrath wrote at the time that the Rams “have failed to pay their players on time for December.” Percy and McGrath wrote that assurances had been given that all this would be caught up with when the takeover was complete.
Percy and McGrath’s Telegraph article indicated that the publication had seen a letter from Derby CEO Stephen Pearce. The contents of the said letter included:
“We have been assured by Derventio that the closing funds have been remitted, but as at this morning, they had not arrived in their lawyer’s client account. As soon as they arrive, the transaction will close and we will process any outstanding payroll amounts immediately.”
Percy’s tweet – is it really apocalyptic?
With a takeover simmering rather than boiling, with wages outstanding rather than paid, with assurances given that haven’t arrived, Derby looks to be in a right pickle.
When you factor in that, as Percy understands, Derby has “sought another loan” and that “money in the bank [is] now very low” then it doesn’t paint a very good picture.
Whilst it might be a fair distance away from ‘apocalyptic’, the situation does look a tad more ominous than it did at the end of 2020.
Things bubbling under.
Mostly media hype.