Burnsie Posted May 18, 2019 Share Posted May 18, 2019 53 minutes ago, addedtime said: So it's been confirmed then? I don't think so. Can't keep up with this thread, but it appears to be based on a third party report Link to comment Share on other sites More sharing options...
OWLERTON GHOST Posted May 18, 2019 Share Posted May 18, 2019 9 hours ago, Minton said: My mother Dorothy Westmantooth Minton Westmantooth ........ 4 Link to comment Share on other sites More sharing options...
Inspector Lestrade Posted May 18, 2019 Share Posted May 18, 2019 Just now, Burnsie said: I don't think so. Can't keep up with this thread, but it appears to be based on a third party report Wouldn't be surprised if it gets filed under bo ll ocks and forgotten about Link to comment Share on other sites More sharing options...
vulva Posted May 18, 2019 Share Posted May 18, 2019 Can’t we do a PCP deal and get a new one in 3 years with sunroof and DAB radio? Link to comment Share on other sites More sharing options...
Minton Posted May 18, 2019 Share Posted May 18, 2019 23 minutes ago, OWLERTON GHOST said: Minton Westmantooth ........ See? A saint! Don't get me started on Grandma Westmantooth though.... 1 1 1 Link to comment Share on other sites More sharing options...
Sham67 Posted May 18, 2019 Share Posted May 18, 2019 (edited) I've no idea if this is true. I was told last night that the freehold has been sold by DC to himself and the club have leased the stadium for a nominal sum. Would this explain why the club are still shown as the owners on the property register? I'm clueless on these matters. Seems a pretty shrewd move, if true. Edited May 18, 2019 by Sham67 Link to comment Share on other sites More sharing options...
pahowl Posted May 18, 2019 Share Posted May 18, 2019 Nothing is registered at Land Registry - still owned by Sheffield Wednesday Football Club Limited. (as at 17 May 2019) Registration of transfer should be made within 30 days of date if transfer, If you look at the title for Pride Park it was sold to Gellaw Newco 202 Limited for £81,100,000 on the 28th June 2018 and registered on 30th July 2018. A lease for 20 years to Derby County was granted at the same time. So it is unlikely our ground was transferred before 31 July 2018 (accounts period end), It would also be quite costly with stamp duty of 5% of the sale price payable, (so £50m would be £2.5m stamp duty) plus another say £400k stamp duty on the grant of a 20 year lease at £1.5m rent per annum. I also don't understand how this helps P&S any impact from the sale/purchase or deprecation of fixed assets (except players) is excluded from the calculated P&S losses, Amazing that speculation in The times has lead to 36 pages here, Link to comment Share on other sites More sharing options...
billyblack Posted May 18, 2019 Share Posted May 18, 2019 1 hour ago, mkowl said: No it doesn't But whenever you get a new owner this is always a risk. If you know how private equity deals work, assets get shifted about. For me he has just placed the club with an unnecessary risk born out of not managing the finances correctly. 1 Link to comment Share on other sites More sharing options...
billyblack Posted May 18, 2019 Share Posted May 18, 2019 When he finally gets his act together and submits the accounts we may get some answers 1 Link to comment Share on other sites More sharing options...
Minton Posted May 18, 2019 Share Posted May 18, 2019 45 minutes ago, billyblack said: For me he has just placed the club with an unnecessary risk born out of not managing the finances correctly. Surely the risk happened when we sold the club, ground and all assets to Milan in 2010 though? SWFC hasn't owned the ground since he bought it Link to comment Share on other sites More sharing options...
ChinaOwl Posted May 18, 2019 Share Posted May 18, 2019 3 minutes ago, Minton said: Surely the risk happened when we sold the club, ground and all assets to Milan in 2010 though? SWFC hasn't owned the ground since he bought it Not strictly true though. At the moment SWFC Limited owns the freehold on the ground and facilities. Chansiri owns 100% of the shares in the company. Semantics maybe but if the club and DC were to part right now, the ground and facilities would still belong to SWFC Limited and not DC. If DC buys the ground, that will no longer be the case. 1 Link to comment Share on other sites More sharing options...
Minton Posted May 18, 2019 Share Posted May 18, 2019 4 minutes ago, ChinaOwl said: Not strictly true though. At the moment SWFC Limited owns the freehold on the ground and facilities. Chansiri owns 100% of the shares in the company. Semantics maybe but if the club and DC were to part right now, the ground and facilities would still belong to SWFC Limited and not DC. If DC buys the ground, that will no longer be the case. Ah, that's an interesting point, I didn't realise that was the case. I suppose that is what makes the ground sale possible when you think about it. I still don't see it as much of a risk, just bringing us in line with the arrangements that the majority of top-flight clubs already have in return for a hefty cash injection that is P&S compliant. Link to comment Share on other sites More sharing options...
oldishowl Posted May 18, 2019 Share Posted May 18, 2019 Why are people still harping on about the last 3 years. That’s gone. The money spent, the near misses in the first two seasons are water under the bridge. Like any big project the decision point is now and last 3 seasons are sunk costs. So the decision is probably do we take punitive sanctions under FFP which could lead to relegation next season or do we “sell “ the ground. Take your pick. Link to comment Share on other sites More sharing options...
ChinaOwl Posted May 18, 2019 Share Posted May 18, 2019 1 minute ago, oldishowl said: Why are people still harping on about the last 3 years. That’s gone. The money spent, the near misses in the first two seasons are water under the bridge. Like any big project the decision point is now and last 3 seasons are sunk costs. So the decision is probably do we take punitive sanctions under FFP which could lead to relegation next season or do we “sell “ the ground. Take your pick. Business decisions are all about mitigating risk. The issue here is not so much as to whether or not the ground should be sold (under the current situation, it is probably the only viable option available). The issue is whether or not a plan is in place to mitigate the risk that arises from the sale. And, for anyone that has any business acumen whatsoever, the potential risks should be obvious. Link to comment Share on other sites More sharing options...
oldishowl Posted May 18, 2019 Share Posted May 18, 2019 1 minute ago, ChinaOwl said: Business decisions are all about mitigating risk. The issue here is not so much as to whether or not the ground should be sold (under the current situation, it is probably the only viable option available). The issue is whether or not a plan is in place to mitigate the risk that arises from the sale. And, for anyone that has any business acumen whatsoever, the potential risks should be obvious. But that’s not issue most of this thread is taken up with. It’s mainly people moaning about how we have got to this position which has no bearing at all on the decision that has to be made. We are where we are. Are people who are moaning about selling the ground happy to take FFP sanctions instead? Link to comment Share on other sites More sharing options...
ChinaOwl Posted May 18, 2019 Share Posted May 18, 2019 1 minute ago, oldishowl said: But that’s not issue most of this thread is taken up with. It’s mainly people moaning about how we have got to this position which has no bearing at all on the decision that has to be made. We are where we are. Are people who are moaning about selling the ground happy to take FFP sanctions instead? OK, I can only speak from my own take on the matter. I accept that there is an inevitability about the sale taking place. I have reservations about it but I can also understand why it has to be done. From here on in, I am only interested in the safeguards that are put in place to secure the club (and the use of the ground) going forward. Link to comment Share on other sites More sharing options...
striker Posted May 18, 2019 Share Posted May 18, 2019 Isn't it much more fun debating how DC spends money and arguing over the effectiveness of the near £50m spent already. Oh, for the days of milans £350k bids, our marquee signings being the likes of Jay Bothroyd and of course who can forget that lovely day out at the high court when on the verge of administration. Link to comment Share on other sites More sharing options...
Hougoumont Posted May 18, 2019 Share Posted May 18, 2019 23 minutes ago, oldishowl said: But that’s not issue most of this thread is taken up with. It’s mainly people moaning about how we have got to this position which has no bearing at all on the decision that has to be made. We are where we are. Are people who are moaning about selling the ground happy to take FFP sanctions instead? Link to comment Share on other sites More sharing options...
MallorcaOwl Posted May 18, 2019 Author Share Posted May 18, 2019 (edited) 59 minutes ago, Minton said: Surely the risk happened when we sold the club, ground and all assets to Milan in 2010 though? SWFC hasn't owned the ground since he bought it DC is the sole owner of SWFC, that includes the ground, he employs all of the staff, including the contracted players. There are no shareholders. In effect DC is setting up another company that he will be the sole owner of, he will sell the ground to that company, nothing changes in terms of who really owns the ground. If DC wanted to sell SWFC including the ground he can Edited May 18, 2019 by MallorcaOwl Link to comment Share on other sites More sharing options...
Minton Posted May 18, 2019 Share Posted May 18, 2019 5 minutes ago, MallorcaOwl said: DC is the sole owner of SWFC, that includes the ground, he employs all of the staff, including the contracted players. There are no shareholders. In effect DC is setting up another company that he will be the sole owner of, he will sell the ground to that company, nothing changes in terms of who really owns the ground. If DC wanted to sell SWFC including the ground he can That was pretty much my point Link to comment Share on other sites More sharing options...
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