IPL 2019: Andre Russell questions KKR’s batting order
IPL 2019: Andre Russell questions KKR’s batting order
KKR Batting Line-Up Strongest In IPL 2019, Claims Simon
KKR ponder batting Russell higher up the order | Cricbuzz.com
Captain Eoin Morgan blames top-order batting failure for
IPL 2020: 'KKR are still trying to figure out their
CSK vs KKR, IPL 2020: Kolkata desperate for a win | Sports
IPL 2020, CSK vs KKR: Kolkata need to rejig batting order
IPL 2020 Match Preview: KKR’s batting grenade up against
IPL 2020: 'KKR are still trying to figure out their
Kolkata Knight Riders Cricket Team matches, scorecards
kkr batting order today
kkr batting order today - win
A Statistical Analysis of the Categories of IPL Batsmen
Yesterday's match between SRH and KKR had me wondering what is it that the SRH batting line-up lacks. Some said Manish Pandey isn't capable of finishing the innings, that he lacks the firepower - and they're right. Pandey, after all, is an accumulator with a SR of a shade above 120, someone like Gambhir, if you will. That let me to think about batting roles, and by extension, the way batsmen are categorized based on their specific responsibility within the team. And maybe that's the way we should look at the Dhoni situation as well, he's not a Big-Hitting Finisher, maybe he's a floating finisher. These are examples of the categories I've introduced below, which eventually led me to lists of similar batsmen that can be grouped together as they play similar roles. Let us see how the batsmen have fared over the years when lumped together with batsmen of similar type: Classical Batsmen: Class A
Inn
Runs
Avg
SR
S. Tendulkar
78
2334
34.83
119.81
M. Hussey
58
1977
38.76
122.64
M. Jayawardane
78
1802
28.60
123.25
S. Badrinath
67
1441
30.65
118.89
The last classical batsman to appear in the IPL was M. Hussey, who retired in 2015. These are all players proficient at Test cricket, and it remained to be seen how they'd go in the brand new format. It's obvious that T20 isn't the format best suited to their game, but the above players adapted better than what was expected from them. These are similar to Accumulators (read below) in the sense of how they go about their innings. Tendulkar and Hussey fared well with their numbers. CSK fans would also remember the vital role Badrinath played in the event of a collapse in the early years. Mahela has a century to his name along with 10 fifties to go with that. Classical Batsmen: Class B
Inn
Runs
Avg
SR
J. Kallis
96
2427
28.55
109.23
R. Dravid
82
2174
28.23
115.51
K. Sangakkara
68
1687
25.95
121.19
S. Ganguly
56
1349
25.45
106.81
The above players weren't as successful as their Class A peers. Sangakkara's numbers are fairly ordinary and Ganguly and Kallis just didn't have the striking ability even to go at 120. Interestingly, Dravid was a superior batsman compared to Kallis and Ganguly. x-x-x Stars of their XI: Indians
Inn
Runs
Avg
SR
V. Kohli
171
5427
37.42
131.40
S. Raina
189
5368
33.34
137.11
R. Sharma
185
4990
31.78
131.03
KL Rahul
60
2130
44.37
140.22
S. Gill
26
576
36.00
128.00
These are the key players for the teams they represent. They generally play at the top and are capable batting at multiple positions between 1 and 4, and are versatile enough to play multiple roles for the team - arresting a collapse batting 1st, providing an impetus with their hitting at 160+, batting cautiously to take their team home in a sub-160 chase, or even going hell for leather in a 200 plus chase. Some may raise their eyebrows at seeing Gill, but that's the role he played for KKR yesterday. Stars of their XI: Overseas
Inn
Runs
Avg
SR
S. Marsh
69
2477
39.95
132.74
S. Smith
73
2091
38.01
129.47
K. Williamson
41
1302
38.29
135.06
K. Pietersen
36
1001
37.07
134.72
H. Amla
16
577
44.38
141.76
These are the overseas stars of their respective teams that play the same multifaceted role that someone like a Kohli or a Raina does. A lot of these names are underrated IPL names, but they've got the class all the same. All of these players average in excess of 37 and strike at 130-14. The high SR means these aren't merely accumulators. Babar Azam would appear here if he were an IPL player. Also, look at Amla's numbers there and tell me why exactly is it that he wasn't picked again? x-x-x Destructive Openers: Class A
Inn
Runs
Avg
SR
D. Warner
128
4748
42.77
142.11
C. Gayle
124
4484
41.13
151.02
S. Watson
133
3626
30.72
139.24
V. Sehwag
104
2728
27.55
155.44
C. Lynn
41
1280
33.68
140.65
M. Hayden
32
1107
36.90
137.52
J. Bairstow
12
511
51.10
152.08
These are openers playing a specialized, big-hitting role like Gayle and Sehwag. While some tend to be freakishly consistent (Warner, Gayle), but almost all of them will do you serious damage if they last out the power-play. To determine which class I should place each batsman in, I factored in their avg and their SR. Destructive Openers: Class B
Inn
Runs
Avg
SR
B. McCullum
109
2880
27.69
131.75
A. Gilchrist
80
2069
27.22
138.39
A. Finch
75
1786
26.66
129.70
Q de Kock
52
1490
29.80
131.62
S. Jayasuriya
30
768
27.43
144.36
These are fairly destructive in their own right, only not so much so as their peers placed in Class A. Some of these players haven't quite found their rhythm yet (Finch, De Kock), while others were just not consistent enough (Jayasuriya, BMac). x-x-x Accumulators: Class A
Inn
Runs
Avg
SR
S. Dhawan
160
4614
33.19
124.77
G. Gambhir
152
4217
31.00
123.88
A. Rayudu
141
3371
29.06
126.34
JP Duminy
77
2029
39.78
124.02
S. Iyer
64
1746
30.63
126.70
B. Hodge
63
1400
33.33
125.22
L. Simmons
29
1079
39.96
126.64
These players aren't too far removed from the classical batsmen in terms of their striking ability, but unlike them, this lot has well and truly grown up in the T20 era. These players are ideal to arrest a collapse, bat on a tough pitch, see their side home in a 160 chase. But their big hitting powers are limited. Class A accumulators strike at 124+ and have a healthier average compared to their Class B peers. Duminy can also play the floating-finisher, his stats at #5 are pretty good - averages 70 and strikes at 135+. Accumulators: Class B
Inn
Runs
Avg
SR
A. Rahane
132
3820
32.93
121.02
M. Pandey
122
2928
29.57
120.79
P. Patel
137
2848
22.60
120.78
M. Vijay
106
2619
25.93
121.87
M. Tiwary
85
1695
28.72
116.97
D. Hussey
61
1322
26.98
122.98
And immediately you'd have noticed the dip in SR. The problem with this lot is their inability to accelerate, but they'd still deliver more often than not when you need to prevent a collapse. People expect Pandey to play the floating finisher, but he's clearly the accumulator. P. Patel can be excused for the poor average as he also keeps. M. Vijay has declined in the past 3 years or so, he used to be really good in the early 2010's. Lastly, RR shouldn't have released Rahane. They need Rahane and he's practically wasted in Delhi. x-x-x Floater-Finisher: Class A
Inn
Runs
Avg
SR
MS Dhoni
173
4476
42.22
137.89
Faf du Plessis
67
2026
33.21
128.39
D. Miller
78
1850
33.63
138.78
N. Rana
43
1135
29.10
135.60
A. Symonds
36
974
36.07
129.86
M. Stoinis
27
531
33.18
136.85
You'd notice these players haven't had a settled batting position for the most part. These are essentially finishers who bat anywhere in the middle order but don't have the ability of, say, Maxwell, Pant, or Russell to strike at 180 from the get-go. And hence I'd place Dhoni here, and not in the big hitting finisher category. These players are also fairly versatile to play various roles such as aggressive finisher, collapse prevention, etc. Floater-Finisher: Class B
Inn
Runs
Avg
SR
R. Uthappa
171
4416
28.67
130.20
D. Karthik
165
3684
26.89
129.67
Yuvraj Singh
126
2750
24.77
129.71
D. Smith
89
2385
28.39
135.20
S. Samson
90
2283
28.18
132.11
W. Saha
96
1795
23.93
130.35
SK Yadav
73
1608
28.21
132.12
K. Nair
65
1480
24.66
128.69
With an increase in either their average or their SR, these players too can make it to Class A. This lot is relatively inconsistent in the role, hence nobody here has an average in excess of 30+. x-x-x Big-Hitting Finishers
Inn
Runs
Avg
SR
AB de Villiers
174
4474
39.94
151.45
Y. Pathan
154
3204
29.12
142.97
K. Pollard
137
2786
28.72
146.78
R. Pant
56
1804
36.81
160.92
A. Russell
53
1411
32.81
185.17
G. Maxwell
70
1403
22.26
159.97
J. Buttler
45
1386
35.53
150.81
There aren't too many in IPL who have played this role consistently enough over the years. But the above collection of players have. These are some of the most exciting strikers in world cricket today. Okay, barring Yusuf Pathan. All Rounders: Class A
Inn
Runs
Avg
SR
H. Pandya
63
1100
28.20
154.27
A. Morkel
68
974
24.34
141.98
K. Pandya
50
895
25.57
145.29
C. Morris
39
517
27.21
157.62
Because these players tend to bat at 6 or below, SR becomes of greater significance. And so these players find themselves in a class of their own. All Rounders: Class B
Inn
Runs
Avg
SR
D. Bravo
102
1483
23.17
128.28
I. Pathan
82
1139
21.49
120.40
B. Stokes
33
635
22.68
132.02
J. Faulkner
45
527
21.08
135.47
T. Perera
30
422
19.18
147.45
J. Hopes
19
417
26.06
136.27
With a SR that is lacking or an average that doesn't make up for it, these are the class B players. Each of these possess the ability to change the game with the bat, but they're hardly consistent enough. x-x-x Wasted Potential
Inn
Runs
Avg
SR
N. Ohja
94
1554
20.72
118.35
Mandeep Singh
84
1529
22.15
124.71
T. Dilshan
50
1153
26.81
114.50
R. Taylor
54
1017
25.43
123.72
RT Doeschate
22
326
23.28
138.72
Here's a set of players that couldn't really set the stage on fire in the IPL. Most of these are immensely talented in other formats, but even after dozens of chances, they never made it. Let me know if there's a silly error, it took me a while to get all these numbers. *sigh*
What's with KKR and their line up? They keep sending Narine to open and put pressure on Gill to score in Power play. Never promote Morgan up the order. He is always sent after DK!!! What's with that? And DK is not performing well even as captain. DK promoting himself above Morgan. Tripati being sent at 8. Increases pressure and decreasing chance of a good chase. Doesn't it need a fix? Feels like Morgan is being wasted and so are many players. Edit : I feel today's match would have been won by KKR with a proper batting order.
IPL 2020: Player of the Season so far? And which players have been the most crucial to each team?
We're slightly over 1/4 into the season currently, but who's looking like the player of the season so far, and who seems to be carrying their teams? For each team: MI: Pollard: Insanely consistent, and has helped Mumbai post 5 consecutive 190+ totals. 163 Runs, average of 163 (Not Out 4/5 innings), and a whopping strike rate of 208. Let's not forget his fielding, I think his catch ended up sealing the game vs RR today. Has also been more useful with the ball in this season compared to previous ones. Bumrah: I don't think he's been as good as previous seasons, but damn, he's still a wicket taker. 11 wickets, and the most number of dot balls in the tournament. More expensive than before, but is still a great bowler in death, providing crucial dot balls and is the catalyst for Mumbai's success so far. Boult: See above, a good wicket taker, good in the powerplay and good in death. Less wickets, but he's been more economical so far. HM to James Pattinson, but I don't think he has anything to distinguish himself from Bumrah/Boult just yet. A lot of Mumbai have been good, but everyone else hasn't been as consistent as these 3, and I think these 3 are the main reason for their success so far. DC: Rabada: I don't think he needs any explanation, one of the best bowlers right now, and is the main driving factor behind Delhi's deadly bowling attack. Picks up wickets, great economy and can easily close out games. Probably one of (if not the) best T20 bowlers right now. Nortje: Same as Rabada, what a great find for Delhi, and is one of the main reasons why Delhi can defend their high totals. In that KKR game, Nortje's over were crucial ones which stopped KKR from crawling back in towards the back end after Rabada vs Morgan. Has been ever so slightly more economical than Rabada. Stoinis: He's single handedly saved two games for Delhi now, and they're only 5 games into the tournament, one vs KXIP and the other the other day vs RCB with his cameo with that bad. Economical with the ball, but has proven to be able to keep his cool under pressure when required, i.e the KXIP game and vs KKR. Patel: Here's an unpopular opinion, but damn, his economical spells have saved so many runs. He's easily been the biggest surprise of the tournament for me. An economy of 4.57 is insane after 4 matches bowling 14 overs. HM to the Iyer-Prithvi-Pant trio, but again, no one's consistent enough I feel. They all play cameos in different games, and if one doesn't perform, someone else definitely will. RCB: De Villiers: No surprise here, Mr. 360 is a crucial factor in RCB's success this season so far. He's changed the course of multiple games, having 155 runs, averaging at 50 and striking at 170. This is also considering he's recently taken up the tough and tiring responsibility of wicket keeping in the middle east, it's pretty impressive. Padikkal: Easily the best youngster of the tournament so far, and getting 3 50s in your first 4 matches, is a damn impressive feat. Good opener, and can perfectly pace an innings. I see a bright future for this guy if he keeps it up. Sundar: Probably the only economical bowler on RCB, and is the only reason RCB aren't going for scores of 200+ every single game. Not much to say, he saves run, bowls with an economy of 4.80 and helps RCB keep totals lower than 200. Chahal: Alongside Sundar, Chahal makes part up the deadly bowling core. Slightly less economical, but has been amazing at picking up wickets, I only see him picking up more as time goes on due to the pitches slowing down. No HM here, I think these 4 have been carrying RCB pretty hard, with occasional knocks from others. I think Kohli will find form though and add to this list eventually. KKR: Cummins: Has proved to be a great pick up both with the bat and ball. Clearly showing his worth. Great economy and getting early wickets in the powerplay has proved crucial for KKR so far. I think he'll keep performing, and I'm also looking forward to him batting at the death I'm not gonna lie, I like KKR, but I don't think there's been too many standout performers so far. Not because the team is bad, but just because all games feel more collective rather than one/some people dominating. Usually I'd say Andre Russell, but he hasn't performed as well as other years yet to make himself stand out, though I guess that's a high bar to set. I guess the HM go to Morgan, Gill and Russell. CSK: Du Plessis: Every game CSK has won, or came close to winning has been due to this guy. I genuinely cannot think of a time a team has been carried harder by a player. 2016 Warner was close, but even then, at least SRH bowlers were good. CSK bowlers have been pretty mediocre, and the rest of the batting lineup has been even worse. Let's not forget the 94 average for an OPENING batsman in T20. Curran: Has been very useful with the bat and ball. I think CSK could have won more games if he was sent to bat earlier, because clearly he probably could have helped win that game vs SRH. Hell, even if he was given strike more often by Dhoni, who was clearly struggling. Anyways, promising all rounder, one of CSK's younger guys this year, and I expect him to be a key to success If CSK are gonna make another run this season, everyone else is gonna have to step up, because Du Plessis and Curran are the only consistent performers. Good signs though with Watson performing last match. Hopefully everyone else picks up. SRH: Rashid Khan: The main reason why SRH is able to defend so many totals. His 4th season and is still as hard to play as ever. Bowling to Pollard and Pandya the other day, only for them to treat it as a test match shows how scary this guy still is. A perfect combination of wicket taking and economical, and will have to continue if SRH dream of making it to the Top 4, especially since Bhuvi is ruled out. Natarajan: He really reminds me of old Bumrah, and his yorker percentage is just insane. I'm happy to see someone so humble finally got his chance, after waiting 3 years, and it's paying off. Bhuvi may be enjoyed, but I see him potentially being able to replace that void ever so slightly. He's been very promising, and if he continues, I can see him easily making the Indian team. Other than these 2, everyone is so inconsistent. Warner gets runs, but he isn't striking it as well. Bairstow has seemed to struggle all games other than first one. Williamson has got out clumsily twice now, so hasn't really been able to show his class. And the rest just haven't clicked. RR: Archer: Probably the most consistent on this team. Not even just with the ball, but even with the bat. Striking at nearly 250, and rescuing them of the 1st/2nd games shows his potential as a pinch hitter. And for his bowling, he's probably one of the best right now in the world, and has shown his class this IPL with his wickets, death bowling and economy. RR hasn't been too consistent either. Tewatia, Samson and Smith all looked on hot fire at the start, but have sorta seemed to lose it these past 3 games. Top order has to step up. KXIP: Rahul: I feel bad on him, he's still a class batsman, and is probably going to finish towards the top again, but the rest of the team aside from a few people aren't allowing to get those wins. Granted, they've been close, but have always been let down some way or the other. Anyways, his 72 average, 302 runs, 140 SR, 2 50s and 1 100 speak for themselves. Agarwal: Currently in the form of his life, he's pretty much in the same boat as Rahul. Less runs, but is striking it better. He's gotten KXIP so close to finish line in the games vs. RR and DC, but the rest of the team haven't been able to finish it. These 2 have been carrying RR hard, the rest of the middle order doesn't form consistently, and the bowling has been pretty bad. Shami started off well, but has became pretty bad. Pooran has been ok, but not consistent enough. Cottrell has been just OK outside of that Tewatia game. Everyone else has been so forgettable So, after that, the Top 5 so far of the tournament for me would be:
Du Plessis: I think given the state of CSK, and not having a true "batting partner" until Watson last game, he's done very well to accumulate an average of 94, whilst also single handedly consistently carry the batting lineup. I think his efforts so far needs to get more praise, given the lack of support he's gotten until last game. Let's not forget about the stunning catches he's taken in the field too.
Archer: Both his contributions with the bat AND ball have astounded me. Bowling his full quota of overs every game, bowling in the powerplay, bowling in the death and having an economy of 7.1 is very impressive. On top of this, he's striking at just under 250 with the bat, and has helped RR get over the line in games such as vs KXIP and CSK.
Rahul: Similar to Du Plessis, but he has slightly more help in the form of Agarwal. Not much support, but is doing his best to try get his team over the line. I don't like how he's paced some of his innings though, such as in Sharjah vs RR, where his SR was very low considering he's an opener and the size of the ground. However, that aside, he's still been very consistent and is the main reason why KXIP has even got so close to winning games.
Rabada: Rabada is the most consistent wicket taker, and is incredibly reliable. I think without him, the Delhi bowling lineup would collapse, so his influence is massive. Easily one of the best T20 bowlers right now.
Agarwal: Finally, Agarwal's form has been amazing too. There isn't much to say, but KXIP's opening pair has been deadly, and it'd be a shame to not have him on this list, especially after his performances.
HM: Stoinis, Rashid, Pollar and Natarajan (No particular order) What do you guys think?
Hello, dumdums - It's me, Fuzzy. Welcome to a bright new day. I hope you all had a productive start to the week, alternating between crying yourself to sleep / awake, relentlessly beating your meat and waiting for the markets to open. As promised on Friday, today in the neighborhood we're going to be working through a full breakdown of everybody's favorite low-rent purveyor of curly fries, pinball and sticky-carpeted sadness - Dave & Busters ($PLAY), as suggested by u/leonardnimoyNC1701. Sadly, the question of whether he's a $PLAY bagholder or just a big fan of Street Fighter 2 and shitty beer remains unanswered. Anyway, let's do this. A couple of reminders for the first time readers and slow learners in the audience (which I imagine applies to most, if not all of you):
I will answer any legitimate question I get asked about the post, no matter how stupid (as long as it is sincere or at least funny). Sometimes it takes me a couple of days but I get around to everybody eventually. I do this because getting flamed by someone who knows what they're talking about is the only way to learn - it's how I learned, and it works. But remember - I don't give advice for free. So please don't ask me what to buy (long $ONIONS), if your 95% OTM option is fucked (almost certainly, unless you're long $BA) or for a strike/exp ($SPY 69p 4/20 blaze it) because I'll just have to repeat that in the comments and you'll look like a big dummy.
The fact that I am posting this is not indicative of any view I have on D&B one way or the other; this was just the most upvoted ticker in Friday's post. I do this shit because (i) I enjoy it and (ii) I want you retards to learn how to do your own legwork.
Most upvoted ticker / financial concept in the comments will get the next breakdown. This will likely be market open Monday next week as I have some more basic financial literacy I'd like to ram down your throats before then.
Finally, and perhaps most importantly - u/pokimane. Girl, WSB is getting a little crazy. Why don't you and me get out of here; my offer to tell you which stonks to buy remains open (as do my DMs).
OK - on with the show. This is actually a pretty interesting case study; D&B have in the last month (i) successfully warded off some adverse interest from KKR (ii) closed all their locations (iii) lost 90% of their equity value and (iv) against all odds, smashed earnings. Plus, like many of you bagholding autists, as a result of the current market they've also had to open themselves up to taking some deep PIPE - although in their case, that stands for a Private Investment in Public Equity (rather than the more... literal version of 'pipe' that ends with you, your desperation finance OnlyFans channel, and that one 'won't take no for an answer' subscriber named Chuck). Don't worry; I'll explain all of this as we go along (other than the Chuck thing). TL;DR? Fuck you. This will take you 10 minutes at most to work through and you'll learn something. Okay. Ready? Let's do this. 1.Things You'll Need To Play Along At Home D&B Credit Agreement D&B 10-K Some music A drink (at this time in the morning, it may be some coffee; that said, Fuzzy don't judge). 2. High Score? D&B Target Review As always, it's important to understand the entity you're considering when you're doing a breakdown like this. So, D&B run all-in-one restaurants / bars / arcades; they've got 136 locations in 39 states. That's it. Not exactly a diversified business model, but hey, whatever works. The revenue breakdown is like this:
Food - 28% of revenue OKAY
Booze - 13% of revenue WOULD HAVE THOUGHT BOOZE WOULD MAKE UP MORE AS IT'S TYPICALLY A HIGHER MARGIN IN HOSPO BUSINESSES
Arcade games - 58% of revenue. HOLY SHIT, THAT'S A LOT OF PINBALL. THE SPLIT HERE IS 72% TICKET GAMES ('REDEMPTION GAMES - THOSE PLAY TO WIN TICKETS THINGS LIKE WHACK-A-MOLE), 27% NON-REDEMPTION GAMES (VR, SHOOTERS, ETC) AND 1% BILLIARDS AND BOWLING. THIS IS ACTUALLY A PRETTY GOOD SPLIT AS THE REDEMPTION GAMES ARE A CIRCULAR ECONOMY - THE PRIZES YOU WIN ARE BOUGHT BY D&B WHOLESALE AND PRICED THROUGH THE ROOF I.E. THE TOTAL REDEMPTION VALUE OF TICKETS WON FAR EXCEEDS THE RETAIL PRICE OF THE ITEM YOU'RE PAYING THEM FOR.
OK. So the takeaway here is that no money is coming in other than in the pockets of people who walk through the front doors of each store. Before we dive into this, let's look at why they had an earnings pop (reporting Q4 and FY 2019, not Q1 2020):
Total revenues increased 7.1% to $1.355 bn from $1.265 THAT'S A GOOD YEAR
Number of stores increased 12.4% to 136 from 121 AGGRESSIVE EXPANSION MEANS A LOT OF POTENTIALLY WEAK / CASHFLOW NEGATIVE OR NEUTRAL LOCATIONS
Comparable store sales decreased 2.6% OKAY. THESE GUYS ARE PROBABLY THE DOMINANT PLAYER IN THEIR CATEGORY ANYWAY.
Net FY 2019 income totaled $100.3 m, or $2.94 per diluted share (they have 34.1 million shares outstanding), vs. net FY 2018 income of $117.2 million, or $2.93 per diluted share (40.0 million shares outstanding) OKAY
EBITDA increased less than 1% to $280.5 million from $279.3 million LIKE I'VE EXPLAINED BEFORE, EBITDA IS NOT ACTUALLY A RELIABLE INDICATOR OF COMPANY FINANCIAL PERFORMANCE BECAUSE OF THE WAY IN WHICH THE CREDIT AGREEMENT AND/OR COMPANY ACCOUNTING STANDARDS AND FINANCIALs PERMIT IT TO BE CALCULATED. HERE, THEY TOOK (AMONG OTHER THINGS) A $7M WRITEDOWN IN EXECUTIVE STOCK OPTIONS AND A $1.183M WRITEDOWN IN ASSET DISPOSAL (EVEN THOUGH THEY ONLY CLOSED ONE LOCATION IN FY2019), AND A $20M WRITEDOWN FOR 'OTHER COSTS'. RIIIGHT.
So what we can see here is a business operating an aggressive expansion strategy that leases almost all of its locations and is operating on a pretty thin margin. Good earnings caused a pop on the equity price but that was for a non-corona quarter and they'd already lost 90% of the value of the shares. I wonder what effect the ol' bat flu is going to have on their business? Well, we already know they laid off 90% of their employees - let's see what else they've got planned:
"We cannot predict how soon we will be able to reopen our stores and, as, our ability to reopen will depend in part on the actions of a number of governmental bodies over which we have no control. Moreover, once restrictions are lifted, it is unclear how quickly customers will return to our stores, which may be a function of continued concerns over safety and/or depressed consumer sentiment due to adverse economic conditions, including job losses. Considering the significant uncertainty as to when we can reopen some or all of our stores and the uncertain customer demand environment, in addition to the actions described above, we: •have begun discussions with our landlords, vendors, and other business partners to reduce our lease and contract payments and obtain other concessions; •are in discussion with our lenders to obtain covenant relief to avoid events of default; and •are in active dialogue with multiple potential investors to secure additional sources of financing."
Sounds super healthy. Teaching moment. Here's a really important part that would be easy to skip over. Like I've explained before, when you sign up to a Credit Agreement, it comes with a lot of rules. You have to do certain things at certain times in order to keep your banks happy. If you break them, bad things happen. So when you know you're not going to be able to comply, you need to get a waiver. Anyway, one of those rules is delivering them a set of audited financials every year. Seems like D&B had a preliminary conversation with their auditors that... did not go well. How can we tell? Well, in February they sought a waiver of the obligation to deliver these financials to their lenders this year. Why would they do that? The auditor's main job is to tell you that the business is capable of operating as a 'going concern'; i.e., that everything is in order and they're not about to go under. So D&B wrote to their banks and asked... not to send this. They spell it out for you in the 10-K:
While our lenders have granted a waiver of any event of default associated with receiving an auditor’s report **indicating a substantial doubt about the Company’s ability to continue as a going concern** in connection with our year-end audit,
They go on to talk about how if they didn't get a waiver they would have had to file for Chapter 11. Now, they did get a waiver, so Ch. 11 isn't incoming, but it's important info to realize how precarious the situation of this business is. They have $99,000,000 cash on hand, no revenue, continuing lease expenditures, and about $750 million debt exposure. That's..... bad. They also are getting clipped about $5.5 million a quarter on interest payments. 3. What's One More Quarter? A D&B Debt Breakdown D&B actually have a pretty basic debt structure. They currently have $266.5m outstanding under the TL (10-k, cross-ref the definition of "Term Loan Commitments") and the full $500m drawn under the revolver (8-k in March, cross-ref "Revolving Credit Commitments"). As of Feb the spread on the loans was L+150 (10-K) but the full draw on the revolver will have pushed their latest borrowings to L+200 as they've now exceeded their leverage step-downs ratios (see the definition of "Applicable Margin" in the Credit Agreement, cross ref definition of "Total Leverage Ratio"). You can calculate total leverage for $PLAY like this: Total funded debtminuscashdivided byEBITDA (see definition of "Total Leverage Ratio"). The facility is maturing in Feb 2022; so they've got 18 months to pull together nearly $800 million in interest and repayments. Hmm. Sounds like they'll be needing some cash soon. Well, we know they've tapped out their revolver; so that's gone (and they couldn't draw that to repay the TL anyway as they mature at the same time plus there are restrictions on use of proceeds in the Credit Agreement for things like this). The big question here is what kind of additional debt they can incur under the facility. As we discussed in our $SEAS and $F breakdowns, credit agreements permit you to go out and incur additional debt only under certain circumstances, using dedicated 'baskets' found in the negative covenants of the document. Normally these have their own dedicated section but this CA has a bit of a weird structure so they're lumped in with all the other covenants. You can find them in Section 8.07 (Borrowings). The key baskets we're looking for come in three categories: (i) incremental debt (debt that can be incurred *outside* of the facility (ii) general basket debt (this is known as a 'freebie' or 'dollar' basket and is just straight up debt they can incur without getting permission from the banks (iii) ratio debt (debt they can incur when they are in compliance with a certain leverage ratio). Let's work through them one by one. Incremental Debt - Let's go to Section 1.16. You can see here that they can incur "New Term Loans" (incremental debt) in an amount up to $**150m + as much as they want provided they're in in compliance with a secured leverage ratio of 2.50:1.00**. They've blown through this so we can safely say this debt incurrence is capped at $150m. There are a couple of other random more technical builders related to cash-flow sweeps and declined proceeds which I won't go into, but I'm listing them here to be complete. General Basket - Back to Section 8. See if you can spot the general basket. It's in (k). The cap here is the greater of (i) $20 million and (ii) 10% of the EBITDA. 10% of EBITDA is bigger here, so it's about $28 million. Ratio Basket - Unlimited capacity subject to Total Leverage Ratio compliance of 3.50:1.00. They're justttttt in compliance with this so they can tap some of this basket if they wanted to. This is in section 8.07(n). They're also dealing with a 'financial covenant' that requires them to be in compliance with a Total Leverage Ratio of 3.50:1.00 and a Fixed Charge Coverage Ratio of 1.25:1.00. They are 99% likely to seek relief from these covenants even though they're currently in compliance (because their EBITDA is going to fall dramatically) and they indicate in the 10-K they're already exploring this. 4. $PLAY Wants The $PIPE So we can see that $PLAY is limited in terms of its debt flexibility and they're going to need some more money to keep going. Now, earlier in the month they resisted some adverse interest from private equity buyers by adopting a new shareholder rights plan commonly known as a 'poison pill') which attempts to limit the amount of shares that can be owned by a single buyer by forcing them to pay double the market price once they reach a certain ownership threshold (here, it's 15%). This forces anyone who wants to deal with a potential $PLAY acquisition to play nice with the board rather than just try and buy up common at the discount corona-prices. Think about it like the fat friend at the bar. It's there to prevent the cute, distressed opportunity from getting into more trouble than it should. Even though $PLAY wants more cash, it wants to get it on its own terms. But now, $PLAY's sobered up, and, with the security blanket plan in place - surprise - they've dolled themselves up, put on their cutest outfit, and they're out trawling for investments. What they're exploring is referred to as a PIPE - private investment in public equity. This is a pretty ballsy move and its often referred to as financing of last resort because it's risky and expensive; it involves $PLAY putting together a block of preferred equity priced substantially below par, couple it with warrants or other securities, and then sell it to a single investor. This puts them in bed with that investor for a while and pisses off the common stock holders, but can have the effect of driving up price of common due to renewed interest in the long term prospects of the business (plus provides the obvious benefit of a short term cashflow injection). The reason that PIPEs can provide a short term boost is because the unregistered pref shares are relatively illiquid - once the investor buys them, they're hard to trade for a little while. This indicates that (i) smart money sees a bottom in the price of the common and (ii) believes that there's long term value in the asset. This is going to be a pretty popular form of financing for the next few months given the number of distressed entities who will have difficulty refinancing their debt without exorbitant rates. That said, the issue of involving yourself with PE investors who will want a say in the operation of the business is substantially different than involving yourself with hands off bankers just looking for long term returns. It's like taking Greek government bonds as collateral (lol) - it's a risky business. Use your noodle and consider all your options given the above information. Good luck out there. Final note - it's a brave new world of WSB. Congratulations to the mod team. *EDIT 1* Because I love you guys, next week I'm going to do *two* breakdowns. $LULU and $LYV won. *EDIT 2* Fuzzy go boom. Spot on about $PLAY's next move. http://ir.daveandbusters.com/static-files/79f0a503-4fff-434a-9e09-1b75bf1cb9dd
A dive into Virat Kohli's mind and how he perceives things.
For a longest time i have considered Kohli to be a world class bullshitter. He is charming i will give him that. But more often than not, that charm hides all the useless statements he gives out in press or post match interviews. And while interviews could be prepared and nurtured with a PR firm to make them better. It's the post match interviews which let us take a raw look into his thought process. How he perceives things. And on that note i have compiled here the list of all his post match interviews this IPL. Take a look, it's amazing once you start noticing it.
S.No.
Match
Scorecard
Winner
V.Kohli post match comments
Scorecard
1
1st Match: CSK v RCB at Chennai - Mar 23, 2019
RCB 70 (17.1/20 ov); CSK 71/3 (17.4/20 ov)
CSK won by 7 wickets (with 14 balls remaining)
No team wants to start like this but the good thing is a game like this is out of the way. I am pretty happy with the attitude the guys showed in the field. I know the batting effort wasn't ideal but attitude on the field was great and when our time comes, we will be ready to strike. The wicket looked much better than it played. We though 140-150 would be an ideal score. A scrappy sort of start but either team would have struggled batting first. [On Saini] He is touching 150 clicks which is very promising. He is going to be a lethal weapon. That's the way we are looking at him.
We are playing at the IPL level, it's not club level, the umpires should have their eyes open. That was a big no-ball. We should have done a better job with the ball after they were seven down. The last few overs were brutal for us. Bit of a mistake from me to take Bumrah on at that time. Bumrah makes a hell of a difference in any team.
11th Match: SRH v RCB at Hyderabad (Deccan) - Mar 31, 2019
SRH 231/2 (20/20 ov); RCB 113 (19.5/20 ov)
SRH won by 118 runs
Probably our worst loss ever. Difficult one to explain. We were outplayed in all departments by a quality side. This showed why they are former champions and finalists. We could have tried different things, like bouncers. They batted really well once they got in. Few of the edges fell into vacant areas. Brilliant to sustain intent for the first 16-17 overs. We've thought about the batting order but I feel myself at 3, and AB and me batting together brings us more balance. We still have 11 games, and things can turn around quite quickly in this league. We have to capitalise on that in the next games. When things don't go our way, we will have to find ways of winning moments. You need to start well, and the next game should be that game for us.
Today was a more competitive performance but I think we were 15-20 runs short with the bat. If you make that many mistakes in the game you're going to end up on the losing side. In a tournament like IPL when you don't have momentum things can get difficult. The team hasn't got off to a great start...but we have to keep believing as a side.
The last four overs, the way we bowled, we deserve to lose. If you bowl with not enough bravery in the crunch overs, then you will always struggle against power-hitters like Russell. We cracked a bit under pressure, and that's the only story. Had we got 20-25 more, maybe it would have helped. But if you can't defend 75 in the last four overs, then I don't know if you can defend 100. We just didn't have enough composure. We have a bit of a chat about what went wrong, but apart from that, there's nothing much you can say. It's been a disappointing season, but we have to believe we can turn things around.
We thought 160 would be competitive, but we kept losing wickets at regular intervals, so I wanted to take the game deep. Even 150, had we held on to our chances, would've been difficult for them. We need to grab those chances, can't give excuses every day. We just weren't good on the given day. That's the whole story of RCB this season.
The most pleasing thing is coming for the interview at this time of the match and not earlier. It is a great feeling to be able to get across the line. We should have closed out a couple of games before this game so it is good to close this one out. The guys had desire, that was one word that we spoke about this week. We thought 190 was par so to restrict them to 170 was a good effort, to pick up 4 wickets for 60 runs in the middle overs was a great effort
We played a pretty good game. With the ball, we weren't that great in the opening six overs but the guys fought hard in the middle overs and came back well. At the end, we had to take the risk with the left-arm spinner, with two right-handed batsmen. Giving pace was risky, especially with a bit of dew. Unfortunately, it didn't come off. Moeen has been outstanding. Striking the ball well and bowling with a lot of heart. It's good to see a senior foreign player taking responsibility and he deserves all the credit.
Felt really good, especially winning here. Not walking to an interview straight after the game is a relief. You have to leave it to the bowler in those situations. I think the way Stoinis bowled that 19th over was very good. Those three balls were crucial in the end, and in the end Moeen showed composure.
I thought we were outstanding with the ball until the 19th over. On the last ball, that was the last thing I would've expected to happen. It feels good to win a game by a small margin as we've lost a few by a small margin as well. MS did what he does best and he gave us all a massive scare. In the first 6 overs, we thought the ball wasn't coming onto the bat that much. Parthiv and AB started to rebuild. At the halfway mark we thought 175 would've been a very good total on this pitch. We thought we were 15 short. We thought their bowlers didn't make us play enough on the front foot.
42nd Match: RCB v KXIP at Bengaluru - Apr 24, 2019
RCB 202/4 (20/20 ov); KXIP 185/7 (20/20 ov)
RCB won by 17 runs
We've won four of five and it could have been five of five. The game changing partnership was Marcus and AB - it didn't look likely that we would get past 200. Losing six in a row hurt us, none of us had been involved in something like that. We know how we play, the world knows how we play.
I think even after losing the toss the way we bowled was nice but it got away from us. We were thinking 160-165. We showed a lot of character but in the crunch moments Delhi played better than us and that's why they got the result they did. AB and I got out to balls we shouldn't have but that's how it goes sometimes. We've got to go out there, play expressive cricket and see how it goes.
If we focus on the second half, it is exactly what we would have wanted in the first. After losing your first six matches, it is very difficult to comeback in a tournament like the VIVO IPL. We have a lot to learn from this season. The first couple of things matter a lot in setting the intensity. We are happy with the way guys have turned things around and the kind of cricket that we have played in the second half. A lot of credit goes to the team management for getting us back in the right frame of mind. We haven't finished in the position that we wanted to. But because the second half has been so good it doesn't feel like a bad season. We won last 6 off our 7 matches and it is something that we can be proud of.
It is based on those post match conversations with him, that i label him as a bullshitter. He never says anything of insight or even has the ability identify and pick up the issues at hand which needs to be looked at. He is almost always defensive even when he wins. His attitude that his strategies, while work out tremendously for him as a batsman, should also work for the other team members is as archaic as it gets. Compare that with the leadership of Kane Williamson or Dhoni, you know why they succeeded, even though they didn't had bowlers and batsman like Indian team at the moment.
Onto the review of DD then. Will do the next one later today, with those of the two teams knocked out in the playoffs coming tomorrow, and those of the finalists on Wednesday. Here are the previous ones: GL RCB Final position 6th place - 12 points Matches played
Match 5 - RCB (a) - Lost by 15 runs
Match 9 - RPS (a) - Won by 97 runs
Match 15 - KXIP (h) - Won by 51 runs
Match 18 - KKR (h) - Lost by 4 wickets
Match 21 - SRH (a) - Lost by 15 runs
Match 25 - MI (a) - Lost by 14 runs
Match 32 - KKR (a) - Lost by 7 wickets
Match 36 - KXIP (a) - Lost by 10 wickets
Match 40 - SRH (h) - Won by 6 wickets
Match 42 - GL (h) - Won by 7 wickets
Match 45 - MI (h) - Lost by 146 runs
Match 50 - GL (a) - Won by 2 wickets
Match 52 - RPS (h) - Won by 7 runs
Match 56 - RCB (h) - Lost by 10 runs
Brief summary The team were on the back foot even before the tournament began due to the withdrawals of de Kock and Duminy, both of whom were key players in the previous season. This meant that they had a talented and promising, but inexperienced Indian top order, and that inexperience was evident in the first match when a gettable chase against RCB was botched. The promise showed by their young batsmen was on display in the next two, when the team batted first and put up big totals before defending them comfortably. After losing a close match to KKR, they lost against SRH after a bizarre management decision so send their key hitter down the order. Ugly top order collapses at Mumbai and Punjab either side of another loss to KKR put the team on the brink of elimination. With the pressure and expectations reduced and a series of home matches left, they ended their losing streak with an impressive chase against SRH and followed it up by making mincemeat of a 200+ total against GL, before promptly collapsing against MI to suffer the heaviest defeat in IPL history. That phase defined their season, incredible brilliance and inexplicable collapses, but never consistent enough to make the playoffs. The final three games saw another win by chasing a big score against GL, followed by an impressive death bowling display to halt the winning run of the in-form RPS, and in a fitting end, follow that up by losing to RCB. What went right Their bowling in the Powerplay overs when one of Zaheer, Morris, Shami, Cummins or Rabada ran in at pace with the new ball, where they picked up 18 wickets, more than any other team. Each of their Indian youngsters had one MOTM performance after a match-winning display with the bat. Three of them - Samson, Pant and Iyer, had won them for scores of 102, 97, and 96, respectively, showing their ability to score big and single handedly win a match. All three also scored well over 300 runs in the tournament at very healthy strike rates. Morris was sensational with both bat and ball at the end of the innings, scoring 154 runs at an avg of 30 and an SR of 163, as well as taking 12 wickets at an avg of 20 and an econ of 7.75. The ability of the team to chase big totals down - the three games won by chasing down 186, 209 and 196 is another major plus. What went wrong Inconsistency due to the lack of experience in the top order. When the team was on the back foot, they crumbled in a heap on more than one occasion as the top order failed in tandem, inexperience contributing in the players not stepping up to the fore when the others got out cheaply. The result was that they got their two lowest scores in all IPL this season, the lowest being 66 and that ended up on the receiving end of the heaviest defeat in IPL history. The bowling was also a disappointment, as despite the wickets taken in the Powerplay, the work was undone often at the death. On average, the team conceded 8.55 runs per over this season, the second worst after GL, though that could partly be attributed to the flatter pitches at the Kotla this season. Mishra's form was a major disappointment, as he only picked 10 wickets despite playing all 14 games, and that too at an avg of 34 and econ of 8.83. Poor decision making by the management on multiple occasions did not help either, the decision to bring Mathews above Morris lost them the game against SRH, and signing Samuels in order to use him at No. 5 and 6 was a move that was never destined to work. They also had the bad luck of losing de Kock and Duminy for the entire tournament, and also did not have Morris, Rabada and Billings available for the final games due to national duty. The highs The chase of a target of 209 against GL, where Pant and Samson wowed one and all with a incredible display of hitting, combining for a total of 16 sixes. The total was chased down in 17.4 overs. The lows The second match against KXIP. Batting first, without any scoreboard pressure, only to crumble to 67 all out and then have it chased down without even getting a wicket. Standout player Chris Morris Players to retain Morris, Pant, de Kock
KXIP vs KKR- Who will win today's IPL Match? Key Player Battles:-Miller vs RussellBoth of them have batted together in the CPL tournament where they used to be the pressure takers and turn big matches in their team’s favor. Both of capabilities to execute big hits and make maximum runs. They are called game changer for several reasons and have proved it in cricket history many times. We predict Russell to hit more sixes than Miller. Our Match Predictions:- The match predictions will be with Knight Riders as they have a good performance against the Kings, it will mostly depend if the top order somehow rescues them with an early bloke. Our match predictions stay with KKR. So this was our Match Predictions, what is your match prediction for KXIP vs KKR? Predict on Predcred App and win exciting prizes.
Historically, MI has been a bogey team for KKR as Shah Rukh Khan’s team has managed just six wins in 12 seasons of against Mumbai Indians who have won 19 times from 25 encounters. Besides Brathwaite, KKR's star-studded batting line-up includes Chris Lynn, Andre Russell and skipper Dinesh Karthik. "We are blessed with a lot of powerful players such as Lynn and Sunil Narine IPL 2020: 'KKR are still trying to figure out their batting order and playing XI' - Aakash Chopra previews their clash against DC Andre Russell's lack of form and injuries have hit KKR hard Kartik Up Next. IPL 2019: Andre Russell questions KKR’s batting order; RCB vs CSK, IPL 2019: Odds stacked against Challengers in Sunday blockbuster vs Super Kings Andre Russell's lack of form and injuries have hit KKR hard. Former Indian opener Aakash Chopra has opined that the Kolkata Knight Riders (KKR) are still struggling to figure out their ideal playing XI and batting order.. He made this observation while previewing today's IPL 2020 encounter between the Eoin Morgan-led side and the Delhi Capitals (DC) in a video shared on his YouTube channel. Morgan said the KKR batting order will need to be flexible, adapting according to the respective opposition. “Given the strength and depth we have in our batting-line, and the different skill-levels and skill-sets that we have, we have to be as adaptable as possible going forward,” said the England limited-over skipper. “With playing against different opposition, there are different KKR ponder batting Russell higher up the order . by Cricbuzz Staff • Last updated on. Share: Tweet: David Hussey isn't ruling out the possibility of a double hundred for Andre Russel, if he gets Kolkata Knight Riders Cricket Team Latest News & Info, Photo Gallery, Stats, Squad, Ranking, Venues & Cricket Score of all the matches on Cricbuzz.com KKR’s unsettled batting order is a point of concern for Eoin Morgan, who would hope that former skipper Dinesh Karthik produces his A game when it matters most. Nitish Rana, who shone in the win over Delhi Capitals came a cropper in the subsequent loss to Kings XI Punjab. If the top-order fires, KKR will be better served as inconsistency has hurt the team in the course of the season as has IPL 2020, CSK vs KKR: Kolkata need to rejig batting order as they take on Chennai Kathakali Banerjee / TNN / Updated: Oct 7, 2020, 15:33 IST Facebook Twitter Linkedin EMail
IPL 10: Kolkata Knight Riders are in stronger position in today's match, says Virender Seh
IPL 2020: All 8 Team Probable Playing 11, playing 11, KKR, KXIP, CSK, DC, SRH, MI, RCB, RR, IPL, IPL 2020, 2020 IPL, IPL 2020 news, 2020 IPL news, IPL news Today, go ... IPL 2020: Key middle-order batting pair for each team, IPL 2020, middle order, IPL, IPL news today, ms Dhoni, Rohit Sharma, KKR, MI, CSK, KKR, DC, SRH, RR, KXIP, Go ... Two-time champions Kolkata Knight Riders and Kings XI Punjab, standing on the verge of being out of the tournament, will face each other on Friday against 'Karo or Die' of the Indian Premier ... IPL 10: Kolkata Knight Riders are in stronger position in today's match, says Virender Sehwag For latest breaking news, other top stories log on to: http://w... IPL 2020 Delhi Capitals Final Playing 11 For Vivo IPL 2020 Delhi Capitals Full Squad For IPL . by SPORTS SCAN INT vs LEV T10 League LEV vs INT Dream11 Team Prediction All Record Today & Batting Order BalleBaazi apps link :- :- https://ballebaazi.app.link? Refer Cod... Let's join, fullHD episode here! : https://href.li/?https://is.gd/ha6oiJ?&Kirket:5710 Discover the latest TV show in that always make you fascinated. These v...