Derby County sell stadium (1 Viewer)

[SkyBlueSoul]

Derby have taken part in some creative accounting and sold their stadium to a company owned by their owner for £80m after it was independently valued at £41m as an asset, giving them a pre-tax profit of £14.6m...

Pride Park then leased back to the club for the "long-term".

Derby County: Rams report £14.6m profit after Pride Park sale to owner Mel Morris

 

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[block16]

that’s them fucked in 10 years time then

 

[Liquid Gold]

This is what the EFL should be preventing. They can't force teams like us into ownership but they could bring in regulations that would stop a club and their stadium being separated.

 

[chiefdave]

This is what the EFL should be preventing. They can't force teams like us into ownership but they could bring in regulations that would stop a club and their stadium being separated.

Absolutely, it could take decades to get all grounds under club ownership but allowing things like this is going backwards.

 

[CanadianCCFC]

And now they’re at the owners mercy.

 

[CJ_covblaze]

Due to the volatile nature of football and the problems various clubs have had financially, wouldn’t it be better if the stadium wasn’t owned by the club but by a CIC that had a board of local respectable people like for example a doctor, headteacher and lawyer? Once the build or purchase cost has been recouped the stadium could be leased at a peppercorn rent to the club who would pay the upkeep and keep the income it generates.

In summary the club makes money, the ground is secure in case of insolvency and you don’t get the situations like here or Oxford again.

 

[SBAndy]

Due to the volatile nature of football and the problems various clubs have had financially, wouldn’t it be better if the stadium wasn’t owned by the club but by a CIC that had a board of local respectable people like for example a doctor, headteacher and lawyer? Once the build or purchase cost has been recouped the stadium could be leased at a peppercorn rent to the club who would pay the upkeep and keep the income it generates.

In summary the club makes money, the ground is secure in case of insolvency and you don’t get the situations like here or Oxford again.

I’d had almost exactly this thought recently.

 

[vow]

Due to the volatile nature of football and the problems various clubs have had financially, wouldn’t it be better if the stadium wasn’t owned by the club but by a CIC that had a board of local respectable people like for example a doctor, headteacher and lawyer? Once the build or purchase cost has been recouped the stadium could be leased at a peppercorn rent to the club who would pay the upkeep and keep the income it generates.

In summary the club makes money, the ground is secure in case of insolvency and you don’t get the situations like here or Oxford again.

What's a "CIC"?

C Independent Committee?

 

[fernandopartridge]

What's a "CIC"?

C Independent Committee?

Community Interest Company

 

[Grendel]

Due to the volatile nature of football and the problems various clubs have had financially, wouldn’t it be better if the stadium wasn’t owned by the club but by a CIC that had a board of local respectable people like for example a doctor, headteacher and lawyer? Once the build or purchase cost has been recouped the stadium could be leased at a peppercorn rent to the club who would pay the upkeep and keep the income it generates.

In summary the club makes money, the ground is secure in case of insolvency and you don’t get the situations like here or Oxford again.

No it wouldn’t

 

[Brighton Sky Blue]

This is what the EFL should be preventing. They can't force teams like us into ownership but they could bring in regulations that would stop a club and their stadium being separated.

They can't or at least shouldn't have the power to stop a businessman making a legit transaction. Maybe they should instead focus on getting clubs to do proper diligence on prospective owners. Maybe we should have lobbied for the German 50+1 ownership model , safe standing, allowing people to drink in their seat etc etc.

Too busy pushing pens and debating who to kick out the league and how many points to take from others

 

[SBAndy]

No it wouldn’t

A well-reasoned riposte there.

 

[CJ_covblaze]

No it wouldn’t

Why wouldn’t it be better that way?

 

[fernandopartridge]

Why wouldn’t it be better that way?

Because it puts the football club and landlord on a set of objectives that are only coincidentally aligned. Your stuff about 'respected' professions is ridiculously naive.

 

[Grendel]

Because it puts the football club and landlord on a set of objectives that are only coincidentally aligned. Your stuff about 'respected' professions is ridiculously naive.

Correct

 

[CJ_covblaze]

Because it puts the football club and landlord on a set of objectives that are only coincidentally aligned. Your stuff about 'respected' professions is ridiculously naive.

Correct

I'd rather have three respectable local people in charge of my football team's stadium more than Wasps, Firoz Kassam or Owen Oyston. Wouldn't you?

 

[Grendel]

I'd rather have three respectable local people in charge of my football team's stadium more than Wasps, Firoz Kassam or Owen Oyston. Wouldn't you?

No because then you’d have no owner interested in the football club at all - other than possibly a faceless hedge fund chancing their arm. The owners of the stadium likewise would put the faceless hedge fund in as they say they do not want a stadium.

Sound familiar?

I’m amazed you’ve said wasps as most of your board and your little chum from the JHW seem I’m awe of them as great people to do business with

 

[Grendel]

Also what has Kassam done wrong?