Have we sold our ground

[OwlinOldham]

5 minutes ago, room0035 said:

I understand what you are saying but comparing like with like.

 

The season 2 years ago when the teams in the championship got promoted there was an article about how much each got for their shirt sponsorship the lowest Huddersfield received £1.5m a season, our chairman in comparison pays into the club the same season £1.2m.

 

But he has his name on most of the advertising boards, the seats, the shirts and the side of the football ground. Huddersfield get £1.5m for the shirts we get £1.2m for the shirts, the stadium, the stadium seats and the stadium advertising hording. So simple is DC putting in the most he can or is he putting in the most he wants to.

 

Within the filed accounts from May 2017 on page 29' Income of £1,200,000 was received from D Chansiri the owner and director of the company, in respect of a sponsorship agreement relating to the club shirt and certain areas of the stadium'

 

In comparison Stoke city where paid £9.6m this season from Bet365 a company owned by the wife of the guy who run Stoke City for the sponsorship of the ground and the shirts. Yes a deal signed when they were in the premier league but give you an idea of what we could be getting was the chairman to up his sponsorship we could easily argue in the 4th most popular league in the world the going rate for sponsoring of shirts and stadium should be nearer the £5m mark..

 

correct me if I'm wrong, it was my understanding that he said he was putting in the most he was allowed to put in, as in the EFL rules said he cant pay more than that. As I said I might be wrong on that, but I seem to remember the EFL can determine what is deemed relative and what is not in regards to sponsorship. Lets be honest, if he could put in 20 million a year through advertising his own name/company and make us challenge every season why wouldn't he be doing it? surely that's better than devaluing his ownership of the football club by selling the stadium (admittedly to himself).

 

Stoke were a freshly relegated premier league team around that time, with a likely existing sponsorship deal already in place. Cant be bothered to check but I'm betting it was a long term deal or one put into place just before the relegation took place. I'm speculating here but I don't think the next deal for stoke will be at that level once the existing deal made in the prem finishes. if it is, then it will open the floodgates to other teams to do the same up to that level. If there were ways around FFP and P&S do you not honestly think these multimillionaire club owners would already be doing it? why would they buy something for tens of millions, pump tens of millions more into it, to then scrimp on the sponsorship and let their assets fall foul of the rules and be docked points? The Whole system the EFL has put in place is flawed. while the sentiment in place is a good one, the rules are not fair in anyway to any club that hasn't come down from the prem.

[Ian_D]

wow, good business there. sell the ground make shed loads from the sale to buy prem class players. Then leave Hillsborough and move to a new ground near meadowhell

[steelowl]

1 hour ago, Ever the pessimist said:

1: I said a few months ago this was in the pipeline. ITK innit.

2: I am not too pleased about it - doesn't sit right losing our main asset.

3: As others have said, it shows the inadvertently counter productive effect of FFP/ P&S - it restricts clubs so much that they have to sell the crown jewels to be competitive. 

t

for it to be in the accounts it surely must have happened last year,  but other than wet ink on the receipt i'm sure there are accounting ways funds from this sale could be staged over a few seasons  

[Drewswfc]

2 hours 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. 

D properties Ltd have bought it

[TheEnchanter]

4 minutes ago, bigdan2003 said:

“EFL to review its rules”

 

Perhaps they should have considered some of this before implementing such rules, as well as considering the knock on effect these rules have on clubs and fans.

 

But they completely ignore the fact clubs coming down have a totally unfair advantage (basically rewarded for failure) plus the fact wages/transfers and general costs of running a football club are obscene. They don’t give a sh*t. It’s basically a rule to make them feel all fuzzy inside...demonstrating they’re trying to do something. When really the tough issues they aren’t bothering or too scared to tackle. 

 

Have to say though, the likes of Swansea and West Brom don't look financially stable to me. They've both had to cut back massively even with the aid of parachute payments. If the contract between spending in the Prem and champ is so big, which it is, then I still think these payments should exist personally. 

[Paddyowl]

If its within the law, and going on that Derby have done the same thing without punishment, then its a great idea and would be the difference between being competitive or struggling under sanctions and probably point deductions.

 

I'm sure its not just me but I find FFP or whatever its called is ludicrous, we have an owner that wants to put money in to the club but can't.

Edited May 17, 2019 by paddyowl

[elated owl]

The accounts for the club aren't 'overdue' per say. if you look at the 'previous accounting statement extended' document from 2018 it does clearly state that:

 

"The accounting reference period ending 31/05/2018 is extended so as at to end on 31/07/2018. Subsequent periods will end on the same day and month in future years"

 

Therefore, until the end of July the club aren't obliged to submit any accounts.

 

In terms of the ground being sold, I wouldn't worry about it. The Chairman is into the club for mega millions. The ground and, more importantly, the space it sits on, are one of his biggest bargaining chips when it comes to selling up.

 

If we have sold it, it will be to the Chansiri family and, in the event he decides to leave, would probably just be repatriated to the Plc and sold as part of a package.

 

The guy cannot win - he bankrolls managers, players don't come off and it's his fault. he brings in Bruce and he's a legend again. He tries to make us financially competitive to back the new manager and he's an idiot again.

 

People keep saying he doesn't know how to run a football club etc etc. None of you, nor me, know how to run a football club either. The difference is how many millions have we made?? Not as many as the Chairman? thought so.........

[H2Owl]

‘The profit and sustainability stadium’ has a nice ring to it 

[AndersonOWL]

Why is everyone arsed? nowt will change except we can spend more money, seems perfect

[beano]

1 minute ago, H2Owl said:

‘The profit and sustainability stadium’ has a nice ring to it 

I prefer the D Taxis Stadium.

[room0035]

So the EFL allows him to sell the ground and the surrounding areas and lease them back based on the filed accounts from 2 years ago the ground and club is valued at £24m or just a little more than we loss in the account to May 2017.

 

It buy's DC another season of mismanaging the club and then next season we find ourselves in the same mess again, breaking the £39m losses on the 3 years rolling, no players sold, players on £30-40,000 a week not playing.

 

What then do we sell, the future revenue from season tickets sales - no wait a minute he already tried this with the 1867 club and the fans where not stupid enough to fall for it.

 

DC running of the club is lie a bucket with a hole in it, until he sures up the hole the club will continue to haemorrhage money.

 

I really don't care this may get us around the P&S rules for me this is a stupid idea that will end very badly for SWFC. 

[shezzas left peg]

2 hours ago, spike1867 said:

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...

Couldn't speak for teams abroad. There's a fair few clubs up and down the country that I know definitely do, I'm sure Huddersfield and Wigan rent the ground as they both share with the towns rugby clubs bud. 

[BIG D]

Gerrit sold and let’s go nuts again!

[Bolsterstone Owl]

Has anyone checked on the Land Registry website?

The info there will show new owner details and probably the price paid.

 

[Guest Bulgaria]

Here's an idea.

 

Sell some bloody players and keep yer books in check.

Ffs.

[RUMBELOWS91]

1 hour ago, ZicoSterland2 said:

D taxis now the official owner of the ground. New taxi rank to be set up in megastore car park.

This has crossed my mind!

[Sonny]

10 minutes ago, elated owl said:

 

The accounts for the club aren't 'overdue' per say. if you look at the 'previous accounting statement extended' document from 2018 it does clearly state that:

 

"The accounting reference period ending 31/05/2018 is extended so as at to end on 31/07/2018. Subsequent periods will end on the same day and month in future years"

 

Therefore, until the end of July the club aren't obliged to submit any accounts.

 

 

But then Companies House says...

 

 

  

[Drewswfc]

1 hour ago, Sonny said:

 

There is literally nothing to suggest that he (if it is him that is buying it) would sell both. We have no detail and you cannot see the future.

Who's going to buy the club without buying the ground? 

[RUMBELOWS91]

11 minutes ago, elated owl said:

The accounts for the club aren't 'overdue' per say. if you look at the 'previous accounting statement extended' document from 2018 it does clearly state that:

 

"The accounting reference period ending 31/05/2018 is extended so as at to end on 31/07/2018. Subsequent periods will end on the same day and month in future years"

 

Therefore, until the end of July the club aren't obliged to submit any accounts.

 

In terms of the ground being sold, I wouldn't worry about it. The Chairman is into the club for mega millions. The ground and, more importantly, the space it sits on, are one of his biggest bargaining chips when it comes to selling up.

 

If we have sold it, it will be to the Chansiri family and, in the event he decides to leave, would probably just be repatriated to the Plc and sold as part of a package.

 

The guy cannot win - he bankrolls managers, players don't come off and it's his fault. he brings in Bruce and he's a legend again. He tries to make us financially competitive to back the new manager and he's an idiot again.

 

People keep saying he doesn't know how to run a football club etc etc. None of you, nor me, know how to run a football club either. The difference is how many millions have we made?? Not as many as the Chairman? thought so......…

9 months after year end, not 12 .

[room0035]

8 minutes ago, elated owl said:

The accounts for the club aren't 'overdue' per say. if you look at the 'previous accounting statement extended' document from 2018 it does clearly state that:

 

"The accounting reference period ending 31/05/2018 is extended so as at to end on 31/07/2018. Subsequent periods will end on the same day and month in future years"

 

Therefore, until the end of July the club aren't obliged to submit any accounts.

 

In terms of the ground being sold, I wouldn't worry about it. The Chairman is into the club for mega millions. The ground and, more importantly, the space it sits on, are one of his biggest bargaining chips when it comes to selling up.

 

If we have sold it, it will be to the Chansiri family and, in the event he decides to leave, would probably just be repatriated to the Plc and sold as part of a package.

 

The guy cannot win - he bankrolls managers, players don't come off and it's his fault. he brings in Bruce and he's a legend again. He tries to make us financially competitive to back the new manager and he's an idiot again.

 

People keep saying he doesn't know how to run a football club etc etc. None of you, nor me, know how to run a football club either. The difference is how many millions have we made?? Not as many as the Chairman? thought so.........

A business has by law 9 months after the year end to file their account accounts ending 31 July 2018 need to be filed by 30 April 2019.