billyblack Posted July 11, 2019 Share Posted July 11, 2019 1 hour ago, mkowl said: No Sheffield Wednesday Football Club Limited owe DC 77m Sheffield Wednesday Football Club Limited are owed 60m by the entity that acquired the stadium Net is £17m MKowl, did I read something earlier about us paying back 7.5 million a year or was that wrong? If that's the case does that get tagged as another expenditure for the year like a loan etc? So another 7.5 million on top of our other outgoings? Ta Link to comment Share on other sites More sharing options...
Guest mkowl Posted July 11, 2019 Share Posted July 11, 2019 2 minutes ago, Sham67 said: Sorry for bothering you mate. I'm sure you've got something more productive to do. Could the club have taken advantage of this 'windfall' to shorten the amortisation period on players contracts? Its alright I am sending an invoice to Owlstalk I would not think so - in terms of shortening the amortisation period - it is the length of the contract which is fixed You should however write down the value of a player sooner if there is good reason to think their value has diminished below their theoretical value So lets say Rhodes was bought at 10m on a 4 year contract - after 2 years his value in the books would be 5m. If his leg then fell off then he is worth nothing so you would write off the other 5m So maybe there has been a little of that Link to comment Share on other sites More sharing options...
S36 OWL Posted July 11, 2019 Share Posted July 11, 2019 £60m for the stadium . Steve Gibson will be having a meltdown 1 Link to comment Share on other sites More sharing options...
Guest mkowl Posted July 11, 2019 Share Posted July 11, 2019 5 minutes ago, asteener1867 said: Ahhh You mean DC chartered surveyors Ltd And The Elevate auditing company Ltd? Naughty Link to comment Share on other sites More sharing options...
Sham67 Posted July 11, 2019 Share Posted July 11, 2019 1 minute ago, mkowl said: Its alright I am sending an invoice to Owlstalk I would not think so - in terms of shortening the amortisation period - it is the length of the contract which is fixed You should however write down the value of a player sooner if there is good reason to think their value has diminished below their theoretical value So lets say Rhodes was bought at 10m on a 4 year contract - after 2 years his value in the books would be 5m. If his leg then fell off then he is worth nothing so you would write off the other 5m So maybe there has been a little of that Thanks. Link to comment Share on other sites More sharing options...
WC1Owl Posted July 11, 2019 Share Posted July 11, 2019 (edited) 5 minutes ago, billyblack said: MKowl, did I read something earlier about us paying back 7.5 million a year or was that wrong? If that's the case does that get tagged as another expenditure for the year like a loan etc? So another 7.5 million on top of our other outgoings? Ta The stadium buyer is paying annual instalment of £7.5M to the club for the stadium. I'm guessing this will equate to the rental costs, so there'll be no cash changing hands. Or maybe that's high for the rental costs - I don't know. Edited July 11, 2019 by WC1Owl Link to comment Share on other sites More sharing options...
Guest mkowl Posted July 11, 2019 Share Posted July 11, 2019 2 minutes ago, billyblack said: MKowl, did I read something earlier about us paying back 7.5 million a year or was that wrong? If that's the case does that get tagged as another expenditure for the year like a loan etc? So another 7.5 million on top of our other outgoings? Ta Well that is my call based on the limited information within the accounts. It says 7.5m is due less than one year 52.5m more than one year so I am giving an educated opinion (I hope) But it is not an outgoing - it is money OWED to us by the 3rd party we have sold the stadium to - so it is money coming in not out Link to comment Share on other sites More sharing options...
Guest mkowl Posted July 11, 2019 Share Posted July 11, 2019 1 minute ago, WC1Owl said: The stadium buyer is paying annual instalment of £7.5M to the club for the stadium. I'm guessing this will equate to the rental costs. Not necessarily 2 separate things Stadium rent may be only a £1m - who knows Link to comment Share on other sites More sharing options...
WC1Owl Posted July 11, 2019 Share Posted July 11, 2019 1 minute ago, mkowl said: Not necessarily 2 separate things Stadium rent may be only a £1m - who knows Yeah, I understand that they're separate things. I was just wondering if they'd be used to cancel each other out for cash purposes. But loading £7.5M stadium rental a year onto our current P&L doesn't seem to make much sense so I assume it will be lower. Link to comment Share on other sites More sharing options...
Lombardo Posted July 11, 2019 Share Posted July 11, 2019 31 minutes ago, oh_weds_we_love_you said: Amen. Sadly, when an owner has invested probably the best part of £200m to get to the Premier League, there is no way he's going to let that investment dwindle down and end up with a team/set up in place destined for League One (and more P&S misery). Honestly believe football is too expensive for even clubs like ours to come close to competing, even at the top end of the Championship. Us, without a loaded Chairman, has very little chance - you have to get lucky like United/Huddersfield/Cardiff (who all still registered significant losses to get there - just not as crazy as ours!). 28 minutes ago, 2roland2 said: Yep I guess that’s why I probably sound more critical of Chansiri than most, the fact is I didn’t want someone to come in and throw money at it and gamble, again I will state I was adamant on this even pre Chansiri whenMamadov was sniffing around I just don’t see this as good for us or the game, I have nothing against him personally but I just don’t want him gambling the future of our club, and for me that’s what it seems like we have done. get room you two.... Looks like a bromance is starting.... Love you guys!!!!! 1 Link to comment Share on other sites More sharing options...
billyblack Posted July 11, 2019 Share Posted July 11, 2019 5 minutes ago, mkowl said: Well that is my call based on the limited information within the accounts. It says 7.5m is due less than one year 52.5m more than one year so I am giving an educated opinion (I hope) But it is not an outgoing - it is money OWED to us by the 3rd party we have sold the stadium to - so it is money coming in not out Ok, so we could class that as revenue? Link to comment Share on other sites More sharing options...
slinger208b Posted July 11, 2019 Share Posted July 11, 2019 1 hour ago, marcx666 said: Thats like calling the vet after the horse has been turned into glue Well the way some are posting it appears there is a lack of awareness... Link to comment Share on other sites More sharing options...
``` Posted July 11, 2019 Share Posted July 11, 2019 Now that a third party owns the stadium, can we still sell the naming rights? The "£60,000,000 Ground" has a lovely ring to it. 1 Link to comment Share on other sites More sharing options...
WC1Owl Posted July 11, 2019 Share Posted July 11, 2019 20 minutes ago, billyblack said: Ok, so we could class that as revenue? we've already booked the sale in our P&L this year, so I don't think so. Link to comment Share on other sites More sharing options...
Mobley Posted July 11, 2019 Share Posted July 11, 2019 10 minutes ago, Millhouses said: That means that we owe £137 million to DC and un-named stadium purchaser? Not unless we cocked up and agreed to pay the buyer £60m to take it away. Link to comment Share on other sites More sharing options...
Guest mkowl Posted July 11, 2019 Share Posted July 11, 2019 30 minutes ago, billyblack said: Ok, so we could class that as revenue? NO - it is cash coming in but its not sales, which is key for FFP Link to comment Share on other sites More sharing options...
billyblack Posted July 11, 2019 Share Posted July 11, 2019 Just now, mkowl said: NO - it is cash coming in but its not sales, which is key for FFP ok, so it would count to offset against outgoings then? Link to comment Share on other sites More sharing options...
Guest mkowl Posted July 11, 2019 Share Posted July 11, 2019 1 minute ago, billyblack said: ok, so it would count to offset against outgoings then? No Unfortunately in accounts there is a world of difference between money going in and out of a bank account and whether that counts as revenue and expenditure Sorry I appreciate for folk this is all appears bjollocks but flip them it pays my mortgage Link to comment Share on other sites More sharing options...
Guest wilyfox Posted July 11, 2019 Share Posted July 11, 2019 Can someone give a brief summary for dumb dumb shithouses like myself, please? Are we loaded again or not? Link to comment Share on other sites More sharing options...
Sham67 Posted July 11, 2019 Share Posted July 11, 2019 2 minutes ago, mkowl said: No Unfortunately in accounts there is a world of difference between money going in and out of a bank account and whether that counts as revenue and expenditure Sorry I appreciate for folk this is all appears bjollocks but flip them it pays my mortgage I'd have thought you'd paid that off long ago. Link to comment Share on other sites More sharing options...
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