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The cost of playing at Hillsborough


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10 minutes ago, TheGaffer said:

Only way out of it as follows :

 

A) we go busy / administration, however this may be classed as a footballing debt so even that isn't a guarantee 

 

B) chansiri agrees a deal with chansiri to amend the terms, again the EFL then may have something to say about the valuation placed on the ground

 

C) chansiri buys out the debt to chansiri to the value of 75m 

 

D) another entity buys out the debt in exchange for the ownership of the ground, ie the fans, and charges no rent

 

E) S3 default on the loan to the external party who then take ownership of the ground and can rewrite the amount owed in rent and term length. Could go down, more likely to increase massively 

Sounds like a right old mess we’re in. 
 

who we all supporting when we cease to exist? 

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2 minutes ago, striker said:

Has Chansiri's company actually paid the club the £60m purchase price of the stadium yet?

No, it’s due to be paid in 8 instalments. I would imagine the ownership will revert to the club if Sheffield 3 default on payments.

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1 minute ago, Sham67 said:

No, it’s due to be paid in 8 instalments. I would imagine the ownership will revert to the club if Sheffield 3 default on payments.

So the club is £5m up per season after paying rent for the first 8 years?

 

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3 minutes ago, Sham67 said:

No, it’s due to be paid in 8 instalments. I would imagine the ownership will revert to the club if Sheffield 3 default on payments.

Perhaps that’s the master plan. Sells the ground to avoid FFP then defaults and ground goes back to SWFC. 
Far too simple 

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1 hour ago, oh_weds_we_love_you said:

 

I just don't see that. Hillsborough must cost close to that annual rent just to keep maintained, so he wouldn't be making much. Given he's wasted £200m+ with us, that's a lot of years for his family to be waiting to get even remotely close to their money back!

 

Also, Hillsborough is dated and any new owner should be looking to move us away from Hillsborough to a stadium which would be in use and generating money all year round. As sad as that sounds, and I love Hillsborough, it's the reality of modern day football.

I agree, can you imagine Manchester City at Maine Road now? Or Leicester still at Filbert Street? 

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1 minute ago, Minesapint said:

Perhaps that’s the master plan. Sells the ground to avoid FFP then defaults and ground goes back to SWFC. 
Far too simple 

I don’t think DC is that smart.

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Guest Hornsby
44 minutes ago, TheGaffer said:

He's borrowed money for s3 against the asset, Hillsborough, which needs to be paid back to an external party. 

 

Its not as straightforward as chansiri paying chansiri any longer 

How do you know mate?

 

That loan could have gone direct to club, secured by fix charge against stadium and floating one against Chansiri assets, including his club shares.

 

Any one seen loan agreement?

 

And didnt he write off some loans of his against stadium sale, so S3 may not have to pay club owt for purchase of ground.

 

On yield comparisons, Hillsborough Shopping centre recently for sale at £2.25 million against annual rent of £880k so over 30% yield. With Boots as secure anchor tenant.

 

Dont be suprised to find Att did that £60 million last valuation as no ones seen it, not even for EFL hearings.

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Guest whowantstoberich

He will hopefully sell it back for a few hundred grand. Perfect excuse is covid and relegation has devalued the ground 

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6 minutes ago, Sham67 said:

Theoretically, however I doubt any actual cash will change hands.

No, you're probably right, takes the edge off though and starts the clock on trying the remove the owner.

 

Maybe  if his company defaults that would be the best situation. Ownership of the stadium reverts to the club and we've already been punished for the the FFP breach.

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1 hour ago, oh_weds_we_love_you said:

 

I just don't see that. Hillsborough must cost close to that annual rent just to keep maintained, so he wouldn't be making much. Given he's wasted £200m+ with us, that's a lot of years for his family to be waiting to get even remotely close to their money back!

 

Also, Hillsborough is dated and any new owner should be looking to move us away from Hillsborough to a stadium which would be in use and generating money all year round. As sad as that sounds, and I love Hillsborough, it's the reality of modern day football.

I disagree. I think with suitable renovation and a viable business plan engaging with local council and residents plus making the most of available space around Hillsborough it could be used as a way of generating money from other ways than football that other stadia are.

 

However, since DC took over he's literally installed a big screen and stopped serving chips on the north stand. Cant see the either scenario happening.

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56 minutes ago, Hirstys_12th_Pint said:

May be too simplistic but does Chansiri not own both Sheffield Wednesday FC and Sheffield 3 so in fact is paying himself £2.5m.  

 

Becomes an issue if Chasiri sells up and ground is not included in the sale. 

 

If Ground is not included then new owner may then be tempted to build a new ground and leave Chansiri with the ground. 

If I was a new buyer I would certainly be looking to a new ground and looking carefully at the associated grants available. Regretfully the one highly regarded stadium has lost its appeal and is tarnished with disasters.

Grounds built close to residential houses etc are a thing of the past. 
Bolton for all their troubles managed to build a new stadium away from the town centre, close to the M61 motorway and with a purpose built railway station. Admittedly the EFL along with a fiddling chairman put them down into L2 but they are now on their way up.

Our fall from grace has been similar so it simply has to be onwards and upwards and that won’t happen with our egotistical current owner.
 

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Guest Hornsby
4 minutes ago, bolton9owl said:

If I was a new buyer I would certainly be looking to a new ground and looking carefully at the associated grants available. Regretfully the one highly regarded stadium has lost its appeal and is tarnished with disasters.

Grounds built close to residential houses etc are a thing of the past. 
Bolton for all their troubles managed to build a new stadium away from the town centre, close to the M61 motorway and with a purpose built railway station. Admittedly the EFL along with a fiddling chairman put them down into L2 but they are now on their way up.

Our fall from grace has been similar so it simply has to be onwards and upwards and that won’t happen with our egotistical current owner.
 

If, of course, he is real beneficial owner.

 

Club said TUG had bought us from Milan M.

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2 hours ago, oh_weds_we_love_you said:

 

I just don't see that. Hillsborough must cost close to that annual rent just to keep maintained, so he wouldn't be making much. Given he's wasted £200m+ with us, that's a lot of years for his family to be waiting to get even remotely close to their money back!

 

Also, Hillsborough is dated and any new owner should be looking to move us away from Hillsborough to a stadium which would be in use and generating money all year round. As sad as that sounds, and I love Hillsborough, it's the reality of modern day football.

The lease will probably be a tenant repairing lease so SWFC will continue to pay for the upkeep of the stadium

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1 hour ago, TheGaffer said:

He's borrowed money for s3 against the asset, Hillsborough, which needs to be paid back to an external party. 

 

Its not as straightforward as chansiri paying chansiri any longer 

He has "only" borrowed £6.4m externally secured against the ground, this was needed for cashflow in Sept 20 to pay players wages

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