Have we sold our ground

[matthefish2002]

If Chansiri ran the club properly in the first place they would be no need to sell the ground (assuming that is what is happening).

Where do we go in 3 years time if we are still a mid table Championship club?

I would be very, very uneasy about selling the ground.

 

 

 

[Guest Bulgaria]

What a horrible mess it all is.

 

All for the chance to make big bucks by getting into the so called promise land.

So sad.

[BRUCE LEE]

14 minutes ago, Sonny said:

Fans: I will literally stop attending matches if we ever move away from our ground.

 

Also Fans: Please sell our ground to anyone for money.

 

[Plonk]

2 points: “ we” don’t own the ground Chansiri does. “We” currently have no control over what happens to it, he can turn it into a Tesco and make us play on Hillsboro Park if he wants. So he sells it to his dad, or himself or his brother, what difference does it really make?  

 

Dem blavdes will no doubt point and laugh. But look at their ground. McSue lent them money secured against the ground, training ground hotel etc. When they couldn’t pay the properties were all transferred to Scarborough holdings to repay the debt. What is the difference? Chairman takes assets in return for money. Difference is McCabe didn’t already own those things, the club did. We sold everything to Milan, and whoever subsequently bought from him.

 

wonder if Gibson is the one raising these complaints? Why doesn’t he just buy his own ground quickly before the loophole is closed?

[1867Heaven]

It’ll only be to Chansiri if we have

[Prince]

10 minutes ago, mogbad said:

We've only recently heard about Derby's ground sale but according to the Times report it's reflected in the 2017/18 accounts.

 

I'm no expert on financial matters as my bank manager will testify but surely this sort of thing can't be done & then added to the accounts retrospectively after the financial period has closed.

I wonder if this is how we got out of the embargo in the summer by having the ground sale included in the figures. Only time will tell if this pays off but we are left with no room to stay inside the P&S law.

 

Premier league clubs come down with a full wallet of cash and the only way others can complete is to offload the assets of the club, In my eyes this goes against what P&S is aimed at doing and puts clubs in a very dangerous position for the future. We have seen what happened at Coventry and this could lead to a few casualties if ground owners are not very closely allied to the clubs owners.

Edited May 17, 2019 by Prince

[striker]

11 minutes ago, Plonk said:

2 points: “ we” don’t own the ground Chansiri does. “We” currently have no control over what happens to it, he can turn it into a Tesco and make us play on Hillsboro Park if he wants. So he sells it to his dad, or himself or his brother, what difference does it really make?  

 

Dem blavdes will no doubt point and laugh. But look at their ground. McSue lent them money secured against the ground, training ground hotel etc. When they couldn’t pay the properties were all transferred to Scarborough holdings to repay the debt. What is the difference? Chairman takes assets in return for money. Difference is McCabe didn’t already own those things, the club did. We sold everything to Milan, and whoever subsequently bought from him.

 

wonder if Gibson is the one raising these complaints? Why doesn’t he just buy his own ground quickly before the loophole is closed?

Probably only worth a tenner. That's why he's having a face on now his parachute payments are ending and he cant cheat using his failure money.

[shezzas left peg]

If the ground it's self is a bit of a sinkhole and money pit bringing negative equity from our FFP allowance it makes total sense. 

Remove the areas running at a loss therefore giving you more money to spend. 

Well good as long as DC has sold it to his own development /subsidiary companies, so still actively controls it. 

[HIGHERSTATE]

33 minutes ago, S36 OWL said:

D-Taxi's have called a press conference for tomorrow

It's on it's way

[prowl]

29 minutes ago, Birley Owl 1867 said:

I wonder if this makes it easier for us to move ground?

 

If chansiri decided to sell the ground he now gets the money, not us.

If we sell the ground to DC or a company set up for the purpose by him then we get paid now. If we (DC) decides to build a new ground elsewhere our current ground will sit empty and we will play at the new ground.

 

How much will the land our current ground sits on be worth? Not that much, Maybe a supermarket would buy it but I can't see it being a great place for a hotel or fancy shopping centre. Would it be a great place for upmarket housing? Hardly.

 

I've really no idea how much the land would be worth but I cant imagine it being tens of millions.

[prowl]

33 minutes ago, cowl said:

Very worrying if true.

 

Those behind FFP need to take a long hard look at the effect the rules have had on the game.

 

Not just the positive behavioural changes FFP has engendered in the running of clubs, but the negative ones such as this.

 

Yes, this may seemingly get us out of a hole right now, but the risk we'll just dig ourselves even further into it have in reality increased.

 

And even if DC has effectively just passed ownership of the ground to another company he either directly or indirectly controls, this merely increases our entanglement with him.

Not really, he already owns us lock stock and barrel. How much more entangled can we get?

[Lombardo]

2 minutes ago, prowl said:

If we sell the ground to DC or a company set up for the purpose by him then we get paid now. If we (DC) decides to build a new ground elsewhere our current ground will sit empty and we will play at the new ground.

 

How much will the land our current ground sits on be worth? Not that much, Maybe a supermarket would buy it but I can't see it being a great place for a hotel or fancy shopping centre. Would it be a great place for upmarket housing? Hardly.

 

I've really no idea how much the land would be worth but I cant imagine it being tens of millions.

It's worth however much someone wants to pay for it...like any property.

[Pastor Kidneys]

I'm surprised we found anyone stupid enough to lump up 

[pazowl55]

We all know its gonna be renamed the Tuna Bowl.

[Pulcinella]

Just now, erowl said:

I'm surprised we found anyone stupid enough to lump up 

 

Or maybe he actually does want what we want - the best for SWFC.

[Guest Ash76]

Can someone copy and paste the full article please. The Times want money to read on pat the 2nd paragraph 

[prowl]

2 minutes ago, Lombado said:

It's worth however much someone wants to pay for it...like any property.

Absolutely, I just can't see who would be prepared to offer a lot.

 

I've spent 30 years as a builder and developer and can't see how someone would make a profit on the land if they paid 10's of millions for it. If the ground was central or in an exclusive residential area that would be a different matter.

 

Brighton sold their ground which was pretty central, within a mile of the city centre and it ended up as a retail park, Toys are us, PC World/Currys, that sort of business. Retail parks like that are 10 a penny. Land in Brighton is worth much more than in Sheffield.

[camffiti]

Now the delay of the accounts makes sense! ... The club is busy upgrading the stadium 

 

The value of Hillsborough will skyrocket once the giant swing is finally finished 

 

[The only way is S6]

4 minutes ago, Pulcinella said:

 

Or maybe he actually does want what we want - the best for SWFC.

 

How dare you?! As if he's trying to find legal ways of creating funds for our new experienced manager, & avoid any sanctions. Which could help us secure promotion & he gets a return on his investment. He's going to sit on his 'arris & watch everything he's spent so far go down the pan, obviously.........

 

* awaits room0035 arriving in thread to criticise our 'barmy' chairman & asking why we don't give our exec boxes to charity.

[spike1867]

3 minutes ago, shezzas left peg said:

If the ground it's self is a bit of a sinkhole and money pit bringing negative equity from our FFP allowance it makes total sense. 

Remove the areas running at a loss therefore giving you more money to spend. 

Well good as long as DC has sold it to his own development /subsidiary companies, so still actively controls it. 

I was thinking about this myself.  Its not just the sale amount that is significant.  Somebody is welcome to come and shoot holes in this but hear me out.

 

IF we sell the ground to DC and become tenants, would it be correct to say that everytime there is a maintenance/development/safety/legal issue, the Landlord (DC) would have to foot the bill for this and not the tenant (the club)? So therefore the daily running and upkeep of the stadium is borne by DC and not the club.  Maybe DC can raise outside investment for the stadium more easily if its not "tied" to the club, as most people will readily admit, football clubs are black holes for money. 

 

Lots of questions, most will probably be answered by those far more knowledgeable than me in a flash.  I think there is a lot of nervousness because its another step into the unknown.  We've not seen any positive examples of other clubs doing it.  It looks great in the short term, but maybe there are more long term benefits to it.  Do all clubs own there ground? Are there any examples elsewhere in Europe where clubs lease the ground on favourable terms?

 

Food for thought...