londonowl Posted July 11, 2019 Share Posted July 11, 2019 So, ignoring the rest of the accounts... Income £25.2m Wages £42.4m That's a £17.2m loss before paying any other costs whatsoever against an allowable £13m per season. Link to comment Share on other sites More sharing options...
RichieB Posted July 11, 2019 Share Posted July 11, 2019 22 minutes ago, fred mciver said: Must have got Eadon, Lockwood and Fiddle Sheffield Estate Agents to value stadium. How has it gone from £23 million four years ago to £60 million now? In a flood zone. With local property inflation at around 5% per annum. And our operating losses are over past 3 years are incredible. You seem gutted we got £60m Wonder why. Link to comment Share on other sites More sharing options...
Guest mkowl Posted July 11, 2019 Share Posted July 11, 2019 20 minutes ago, marcx666 said: To be fair, I'm just copying what @mkowl said, someone who is far more knowledgeable than me, or you, or anyone else on this dump about this stuff Well it would have had to be suitably qualified expert I promise you the auditor can not accept any old guff Link to comment Share on other sites More sharing options...
``` Posted July 11, 2019 Share Posted July 11, 2019 4 minutes ago, RichieB said: You seem gutted we got £60m Wonder why. I reckon DC is as well, if it went through so smoothly. Bet he wishes he'd took a punt at £80m. Link to comment Share on other sites More sharing options...
Guest mkowl Posted July 11, 2019 Share Posted July 11, 2019 28 minutes ago, fred mciver said: Must have got Eadon, Lockwood and Fiddle Sheffield Estate Agents to value stadium. How has it gone from £23 million four years ago to £60 million now? In a flood zone. With local property inflation at around 5% per annum. And our operating losses are over past 3 years are incredible. Well I think I may have done their accounts about 23 years ago But all the points you are making have zero influence over how the stadium is valued for accounting purposes Link to comment Share on other sites More sharing options...
marcx666 Posted July 11, 2019 Share Posted July 11, 2019 7 minutes ago, mkowl said: Well it would have had to be suitably qualified expert I promise you the auditor can not accept any old guff I beelive you, its why I quoted you mate, why you think I wanted to block everyone else from this thread so I can just read your take. Again, lost puppy at this time of year Link to comment Share on other sites More sharing options...
fred mciver Posted July 11, 2019 Share Posted July 11, 2019 (edited) 9 minutes ago, mkowl said: Well I think I may have done their accounts about 23 years ago But all the points you are making have zero influence over how the stadium is valued for accounting purposes May be they used GAAP , or more like Enron / Parmalat/ Carrillion / Debenhams method for tangible asset / sales valuations. Edited July 11, 2019 by fred mciver Link to comment Share on other sites More sharing options...
Animis Posted July 11, 2019 Share Posted July 11, 2019 37 minutes ago, fred mciver said: Must have got Eadon, Lockwood and Fiddle Sheffield Estate Agents to value stadium. How has it gone from £23 million four years ago to £60 million now? In a flood zone. With local property inflation at around 5% per annum. And our operating losses are over past 3 years are incredible. As MK has said it's the re-build value of the stadium not alternative use value. If signed off theirs at £81m ours at £60m seems low, but probably in the ball park once you take their ancillary assets into account. Link to comment Share on other sites More sharing options...
Minton Posted July 11, 2019 Share Posted July 11, 2019 3 minutes ago, Animis said: As MK has said it's the re-build value of the stadium not alternative use value. If signed off theirs at £81m ours at £60m seems low, but probably in the ball park once you take their ancillary assets into account. Wonder if the whole Sheffield 2, 3, 4 etc is to do a similar thing with things like the training ground etc, help in any future P&S prombles Link to comment Share on other sites More sharing options...
Swiss Toni Posted July 11, 2019 Share Posted July 11, 2019 Leaves an unsavoury taste in my mouth. Football has become ridiculous! Link to comment Share on other sites More sharing options...
Guest mkowl Posted July 11, 2019 Share Posted July 11, 2019 10 minutes ago, fred mciver said: May be they used GAAP , or more like Enron / Parmalat/ Carrillion / Debenhams method for tangible asset / sales valuations. I won't question the professionalism of the valuation firm that undertook this or the auditors who have accepted it. I have got out of auditing because the scrutiny and regulation was becoming far too burdensome - that world has changed post those events you refer to. Link to comment Share on other sites More sharing options...
Bluesteel Posted July 11, 2019 Share Posted July 11, 2019 4 hours ago, mkowl said: Going by a quick check our accounting losses are now May 2016 £9.6m May 2017 £20m July 2018 Profit £2m So say £28m - caveat is this is not necessarily the FFP position but nearest we will know So £9.6m will drop out but July 2019 figures will add in Given the changes are only in the summer 2019 then I can see a loss of £20m easily for the season just finished - with no Plan B (well we could sell the training ground !) I think just plodding along we will be upto the FFP limits on a rolling basis Thanks for this. May be more room though as there are various ad backs that are discounted for FFP so we never know the figure the club is working to. Link to comment Share on other sites More sharing options...
Animis Posted July 11, 2019 Share Posted July 11, 2019 13 minutes ago, Minton said: Wonder if the whole Sheffield 2, 3, 4 etc is to do a similar thing with things like the training ground etc, help in any future P&S prombles The key is substantial interest and ownership. The SWFC training ground is on a long lease with around 50 years left, which reduces the valuation. Link to comment Share on other sites More sharing options...
adelphi1867 Posted July 11, 2019 Share Posted July 11, 2019 4 hours ago, WalthamOwl said: So does this mean we can splash the cash again? (Within reason) FFS NO!. Lets not REPEAT the mistakes of the past, and look to get value for themoneyl Link to comment Share on other sites More sharing options...
Hookowl Posted July 11, 2019 Share Posted July 11, 2019 18 minutes ago, Minton said: Wonder if the whole Sheffield 2, 3, 4 etc is to do a similar thing with things like the training ground etc, help in any future P&S prombles Could buy out D Taxis and Elev8 for a few million then rent them back Link to comment Share on other sites More sharing options...
Guest mkowl Posted July 11, 2019 Share Posted July 11, 2019 4 minutes ago, Bluesteel said: Thanks for this. May be more room though as there are various ad backs that are discounted for FFP so we never know the figure the club is working to. True or it could be worse if they challenge the ground valuation or lack or rent being paid Link to comment Share on other sites More sharing options...
Bluesteel Posted July 11, 2019 Share Posted July 11, 2019 1 minute ago, mkowl said: True or it could be worse if they challenge the ground valuation or lack or rent being paid I understood the delay in all this was hearing back from the EFL so hopefully it’s been begrudgingly accepted. Link to comment Share on other sites More sharing options...
Guest mkowl Posted July 11, 2019 Share Posted July 11, 2019 48 minutes ago, londonowl said: So, ignoring the rest of the accounts... Income £25.2m Wages £42.4m That's a £17.2m loss before paying any other costs whatsoever against an allowable £13m per season. Yep this bit is getting overlooked Of course the wages will include others not just players but that is what 160% of turnover Link to comment Share on other sites More sharing options...
kristmace Posted July 11, 2019 Share Posted July 11, 2019 50 minutes ago, londonowl said: So, ignoring the rest of the accounts... Income £25.2m Wages £42.4m That's a £17.2m loss before paying any other costs whatsoever against an allowable £13m per season. That's insane. Wages being 168% of turnover is beyond irresponsible. 1 Link to comment Share on other sites More sharing options...
Guest mkowl Posted July 11, 2019 Share Posted July 11, 2019 2 minutes ago, Bluesteel said: I understood the delay in all this was hearing back from the EFL so hopefully it’s been begrudgingly accepted. It's an hypothesis not fact that this could be the reason for the delay Link to comment Share on other sites More sharing options...
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