Have we sold the Mad Stad to the owners/someone else?

multisync1830
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Re: Have we sold the Mad Stad to the owners/someone else?

by multisync1830 » 08 Sep 2019 09:17

The payback..

Cant edit the above for some reason on this phone ?

WestYorksRoyal
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Re: Have we sold the Mad Stad to the owners/someone else?

by WestYorksRoyal » 13 Sep 2019 11:05

Interesting that Boro have sued the EFL and Derby over their stadium sale. Think their main complaint is around the price and valuation, so if we can demonstrate that our sale was at a fair market price we'll be fine. Seems inevitable this FFP loophole will be closed soon.

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Re: Have we sold the Mad Stad to the owners/someone else?

by Snowflake Royal » 14 Sep 2019 07:26

WestYorksRoyal Interesting that Boro have sued the EFL and Derby over their stadium sale. Think their main complaint is around the price and valuation, so if we can demonstrate that our sale was at a fair market price we'll be fine. Seems inevitable this FFP loophole will be closed soon.

Allegedly independent valuations commissioned for the value of Derby's, Wednesday's and our stadia

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Re: Have we sold the Mad Stad to the owners/someone else?

by Sutekh » 18 Oct 2019 23:54


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WoodleyRoyal
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Re: Have we sold the Mad Stad to the owners/someone else?

by WoodleyRoyal » 21 Oct 2019 10:08

Sutekh https://www.telegraph.co.uk/football/2019/10/16/efl-step-investigation-derby-sheffield-wednesday-reading-stadium/


poor form. Please describe the article I don't just 'click links'


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Re: Have we sold the Mad Stad to the owners/someone else?

by Greatwesternline » 21 Oct 2019 12:07

Derby did theirs at £80m, we did ours at £20m odd. I think we're in a safer position. Ours has previously been used for music events. £20m seems reasonable.

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Re: Have we sold the Mad Stad to the owners/someone else?

by Hound » 21 Oct 2019 13:02

yeah 20m for that site seems basically reasonable to me. Be surprised if we get done for anything too untoward

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Re: Have we sold the Mad Stad to the owners/someone else?

by Snowflake Royal » 21 Oct 2019 17:35

Hound yeah 20m for that site seems basically reasonable to me. Be surprised if we get done for anything too untoward

Didn't it cost us more to build?

It can't have depreciated that much. Building a new one would cost loads more.

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Re: Have we sold the Mad Stad to the owners/someone else?

by Elm Park Kid » 23 Oct 2019 12:11

Snowflake Royal
Hound yeah 20m for that site seems basically reasonable to me. Be surprised if we get done for anything too untoward

Didn't it cost us more to build?

It can't have depreciated that much. Building a new one would cost loads more.


A reasonable question might be would we be able to sell it to an independent party for £20m?


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Re: Have we sold the Mad Stad to the owners/someone else?

by 3points » 23 Oct 2019 13:28

The Ricoh Stadium was sold to Wasps’ owners a few years ago for, effectively, £21m. SISU had hoped to pick it up for significantly less which is why they got incredibly tetchy when they were outflanked by Derek Richardson and his partners.

Have to remember the land around the Madejski was sold for about £11m a few years ago, so our stadium is exactly that, and doesn’t include the hotel either.

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Re: Have we sold the Mad Stad to the owners/someone else?

by Forbury Lion » 13 Nov 2019 11:44

Nameless Been discussed here a fair bit. It’s an accounting thing, same people still own the club and the stadium but when it was done it gave the club a cash injection. Likewise the training ground. It’s daft in many ways because the owners would by all accounts have just invested the money but that isn’t acceptable under FFP so you end up transferring the asset into different ownership.
Would be worrying if it had been sold to a third party .
I guess there is nothing to stop Mr Dai's new company that owns the stadium taking over Reading FC from Mr Dai and consolidating everything into one again....... then, that company can sell the stadium and training ground again to another company owned by the Mr Dai and get another cash injection etc etc etc.

Also, in terms of income - if the company that was Reading FC was merged into another company would all the revenues help FFP? - I'm thinking when the club had the hotel (I assume the Thai's kept that?), then that revenue stream may have helped prop up the club

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Re: Have we sold the Mad Stad to the owners/someone else?

by Royals and Racers » 15 Nov 2019 14:20

From an article in the Times today, Sheffield Wednesday are in big trouble with the EFL over a 38M profit for the sale of Hillsborough, which enabled them to be financially compliant, was detailed in their 2018 accounts when land registry documents date the purchase almost 12 months later !!

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Re: Have we sold the Mad Stad to the owners/someone else?

by windermereROYAL » 15 Nov 2019 20:55

Sheffield Wednesday have been charged with breaching EFL rules around financial fair play over the sale of Hillsborough.
The EFL opened an investigation into the Championship club’s profitability and sustainability (P&S) submission for 2017-18 earlier this year and has now issued ‘a number of charges’ in relation to that investigation.The EFL has reviewed a large number of documents obtained from the club as part of this process and concluded there is sufficient evidence to justify issuing charges of misconduct,” a statement from the league read.
“The charges are in respect of a number of allegations regarding the process of how and when the stadium was sold and the inclusion of the profits in the 2017-18 accounts.”
The EFL said the charges would now be considered by an independent disciplinary commission, with sanctions possibly including a points penalty.
The club’s 2018-19 P&S submission remains under review, the league said.
Wednesday said in a statement: “Sheffield Wednesday note the statement issued by the EFL and the charges contained within.
“These charges will be vigorously defended and the club will be making no further comment at this time.”


https://talksport.com/football/630294/s ... 1573761918


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From Despair To Where?
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Re: Have we sold the Mad Stad to the owners/someone else?

by From Despair To Where? » 15 Nov 2019 21:15

So they credited the sale on their accounts for the financial year prior to the one they actually sold it in?

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Re: Have we sold the Mad Stad to the owners/someone else?

by WestYorksRoyal » 15 Nov 2019 21:31

How likely is a big points deduction and relegation? Birmingham lost 9 points last year, but this basically sounds like accounting fraud to circumnavigate the rules. Should be at least double the penalty.

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Re: Have we sold the Mad Stad to the owners/someone else?

by windermereROYAL » 15 Nov 2019 21:49

If it`s proved they committed fraud sod the points deduction just relegate them.

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Re: Have we sold the Mad Stad to the owners/someone else?

by 72 bus » 15 Nov 2019 22:34

windermereROYAL If it`s proved they committed fraud sod the points deduction just relegate them.

And give the Directors a good shoeing while their at it.

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