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Ground Sold !


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5 minutes ago, mkowl said:

Yes and the latter isn't excluded btw

 

Ground improvements are a fixed asset hence not part of income and expenditure under basic accounting rules

 

Thanks for clearing that up. 

 

If the ground is sold for the reported £30m can the whole amount be used to offset P&S or is it purely any profit over & above the valuation for the ground in the annual accounts.

 

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2 minutes ago, Standidno said:

If true ( highly doubt) I’m pretty sure we couldn’t use as a way of getting round FFP, no?

According to the EFL regulations I read the other day there was nothing I saw said you couldn't. 

 

You start with the accounting loss per the accounts and only make adjustments for depreciation of fixed assets, you can disregard expenditure on women's football and academy. 

 

As noted in my other post the cost of ground improvements de facto are not part of the profit and loss account - hence why that is disregarded

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19 minutes ago, fatbloke said:

Not claming to have broke story as stated before ,this was heard in boardroom dining room pre match today just putting it out there,I hope it’s true the guy that told me is usually spot on ,but some of the key board trolls on here just want their arses slapping and being sent to bed 

 

 

Angry Girl GIF - Angry Girl Tantrum GIFs

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Not really sure why the op is getting shot down. ITK comments never bother me, you get the rare idiot spouting nonsense for no apparent reason but the majority are just commenting on what they’ve heard/been told 

 

you’d be whinging if there wasn’t any of these! 

Edited by FreshOwl
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3 minutes ago, mogbad said:

 

Thanks for clearing that up. 

 

If the ground is sold for the reported £30m can the whole amount be used to offset P&S or is it purely any profit over & above the valuation for the ground in the annual accounts.

 

Profit over and above the valuation, but not really sure how the difference between thar carrying valuation and original historic cost would work. That is a bit techie accounting which the regulations don't cover as far as I can se3

 

It was my reading of the regulations so not going to guarantee this is 100% right just my view 

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13 minutes ago, gillyno9 said:

Still am managing them! Been a highly successful season so far

 

Just realised who you are 

 

All Rangers aren’t we 

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36 minutes ago, gillyno9 said:

See what pans out........ no point insulting people for sharing things they have heard. I heard an interesting story on what really happened between jos and Sam Hutchinson....... might share it tomorrow.

F**k me it’s Nicko

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34 minutes ago, mogbad said:

Can income from the sale of the ground actually be used to offset P&S overspend? It would seem strange that expenditure on ground improvements & maintenance is disregarded for P&S purposes but income from selling the ground is included.

I think this has been done before to get a club out of tight situation (think Leeds did it). Therefore its possible. However new P & S regulations may have changed things. 

 

It could be abused as owner could sell stadium to some geezer put money received in club and then buy ground back of that person. 

 

I got told stadium was in accounts at £25 million a few weeks ago.

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