EFL commission independent ground valuation?

[Rogers]

1 hour ago, catdog1121 said:

this is ridiculous, the value of something is based on what someone is willing to pay..   Valuing something like a football ground is extremely subjective and there is also emotion involved.  For example i'm sure to the 85 year old lady down the road the ground has not value to her.  

 

It may only be worth that much to one person, just like i am sure certain sentimental items may have very little value but certain people would be willing to pay a huge amount, in this sense as there has been a sale then the value is what was paid, even if it is only worth that much to that one person.

 

This is just the EFL not happy that a few clubs have found loopholes in their stupid rules so are trying to make up new interpretations of rules to try and punish them.  Mind you given what happened to Bury it does make you wonder if the EFL see clubs as an annoyance to their organisation that they would rather be without. 

I would imagine It'll be based on land size, local land value, the area, the value of the buildings, its potential for other uses and commercial revenue, etc.  

 

I don't think it's valued like a piece of art or antique at Sotherby's.   Just because Pele played on the pitch once, doesn't mean it bumps the price up. 

 

There is no way Hillsborough is worth £38m IMO.   If you flatten it and built luxury apartments on it, I doubt they'd be worth up to that value.  And due to the ground being on a flood plain, I doubt you could build residential on it anyway, without significant pre-works. 

[Utah Owl]

3 hours ago, TheEnchanter said:

My many many Leeds United supporting friends are already sticking the knife in with this one. 

 

 

With friends like them who needs enemas!

[quinnssweetshop]

Perhaps a certain Boro chairman has something to do with this

[bigdan2003]

Be about right won’t it. For years we’ve had to try to compete against clubs who have used loop holes. Yet now the governing bodies want to do something. They don’t mind turning a blind eye when it suits though. 

[sMacLean]

Maybe they will increase the valuation to 100m, never know. Can you imagine Gibson's face if they did.

Edited September 5, 2019 by sMacLean

[bradowl]

9 hours ago, Anus said:

Sorry to step off my Cowley cloud, but Ram's mate sent me this. Can you backdate a loophole? Seems to be from The Time's.  I don't know if it's worth worrying about or not? Surely DC's finance and legal bods crawled all over the sale.

 Time's link https://www.thetimes.co.uk/edition/sport/derby-countys-purchase-of-pride-park-investigated-by-efl-rdm0jwzws?utm_medium=Social&utm_source=Twitter#Echobox=1567620539

To continue reading this article you have to register. 

 

What? To be bombarded by emails? Feck off. 

[matthefish2002]

Dont understand why EFL are looking into this now. Why wasnt this cleared up when we came out of an embargo?

Surely cant take more then a couple of days to find out a figure what the ground is worth.

[MrTacoSWFC]

3 minutes ago, matthefish2002 said:

Dont understand why EFL are looking into this now. Why wasnt this cleared up when we came out of an embargo?

Surely cant take more then a couple of days to find out a figure what the ground is worth.

Because this is the EFL we are talking about...

[bradowl]

Let's tell EFL to do one and go and play in Scottish League. 

 

Isn't there already an English based club in it,? 

 

Welsh clubs play in EFL so what's to stop us? 

 

Sheffield Wednesday v Aberdeen, Hearts, Celtic, Rangers would be more attractive than watching us play Wigan, Brentford, Reading year after year. 

 

We'd stand a chance of winning a trophy too. 

[Inspector Lestrade]

13 minutes ago, bradowl said:

Let's tell EFL to do one and go and play in Scottish League. 

 

Isn't there already an English based club in it,? 

 

Welsh clubs play in EFL so what's to stop us? 

 

Sheffield Wednesday v Aberdeen, Hearts, Celtic, Rangers would be more attractive than watching us play Wigan, Brentford, Reading year after year. 

 

We'd stand a chance of winning a trophy too. 

 

Rotherham Owls will take a tartan coach.

Edited September 5, 2019 by Mycroft

[MrEdwards]

Can't we retroactively value Rhodes and ask for his wages back off Middlesbrough?

[handworth52]

11 minutes ago, MrEdwards said:

Can't we retroactively value Rhodes and ask for his wages back off Middlesbrough?

Rhodes is out of the 12 month warranty period but aint there something beyond the usual 12 months for shoddy goods? surely we should make a claim to recover losses from boro .

[ChapSmurf]

9 hours ago, NorfolkNChance said:

The auditors will have indemnity insurance which is in place to protect their client. The question is what is the limit.

 

I've £10M Indemnity/Public Liability insurance and that costs me about £200.00 per year I think. I was covered whilst contracting in the banking industry, so I am sure the Auditors will have higher cover than that.

[full fathom five]

10 hours ago, Lord Snooty said:

Independent Stadium valuations.

 

I'll give it a week till SAG get one of their stooges in their working under cover.

 

"Hillsborough? Well, in my expert opinion it's worth about fourteen pounds."

It's worth what someone's willing to pay for it, end of

[Guest mkowl]

8 hours ago, Matthew Thomas said:

 

Is this slow payment arrangement for tax reasons or merely to allow regular funds to trickle into the club? Why do I have a nagging feeling it’s because he’s selling the club and this is a way to avoid putting too much in ahead of the sale?

 

Going to go for the former. DC puts in huge sums on a regular basis - this increases his loan account up to now.

 

This will mean the money going in is clearing the purchase of the stadium

 

No tax saving exercise - any gain on the sale of the stadium in the company accounts to 31st july 2017  would have been offset by the trading loss that arose  

[Guest mkowl]

8 hours ago, Highbury Owl said:

Well this is not a surprise.

 

DC has obviously paid well over the odds to buy the stadium. For the same acreage it's probably Fulham prices and he's done it to try to get round FFP and financially support and protect our club.

 

I've never understood the point of FFP because it only seems to exist to protect the interests of richer clubs (and Steve Gibson).

 

At best the EFL is incompetent. If they have any integrity, I'd like to know what it it is.

 

 

 

Totally irrelevant about land prices

 

The stadium valuation is based on cost to re-build to same specification less useful years left of the stadium

 

It is a technical type valuation not linked to commercial value - almost like the one used in your home insurance policy about re-build cost not current value in the market if it was destroyed 

[Guest mkowl]

8 hours ago, Anus said:

 

That's my genuine hope, I listened to some of the talksport interview at work with Mel Morris (between the ads, I mean, FFS that show is worse than the The Star on my phone, but I digress..) he made reference that the ground could not be overvalued due to having to satisfy HM tax man. So I kind of think Srcubber Gibson and Leeds' just can't let anything go, and the EFL are just pandering to Leeds'*, probably at Sky's request **

 

* Not sure anyone cares about Gibson

 

** Don't panic, just sorting the tin foil helmet as we speak....

Sort of true - HMRC will require any said transaction to be on an arms length basis where the parties are connected but not part of a formal group structure

 

Lets not dis-regard accounting standards either - a dry subject I appreciate - but these are very significant transactions that have to adhere to those publications. FRS 102 - its a cracking read !!!

[Guest mkowl]

44 minutes ago, ChapSmurf said:

 

I've £10M Indemnity/Public Liability insurance and that costs me about £200.00 per year I think. I was covered whilst contracting in the banking industry, so I am sure the Auditors will have higher cover than that.

 

I can confirm my PI premium is a bit higher than that 

 

 

[Hougoumont]

11 hours ago, WalthamOwl said:

Was always going to come back and bite us in the arse. Should never have gotten to having to sell the ground in the first place. No chance Cowleys would come here when things like this are going on. They would be crazy too. 

Ah! Bless....have a nice day.

[Animis]

4 minutes ago, mkowl said:

Sort of true - HMRC will require any said transaction to be on an arms length basis where the parties are connected but not part of a formal group structure

 

Lets not dis-regard accounting standards either - a dry subject I appreciate - but these are very significant transactions that have to adhere to those publications. FRS 102 - its a cracking read !!!

 

MK - can you just confirm that the accountancy regs essentially leave the valuation up to the client to arrange through a regulated (RICS) company and that signed-off valuation is taken as correct, subject the correct checks on report process rather than the valuation methodology.