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2nd Oldest Football Club O'Nottsaurus Forest


stoners

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Hell of a lot of Red Dogs & Dirties fans on Twitter last night convinced we've screwed up cus Mel will duck us over the first chance he gets.  I guess when you've been through the chairmen they've been through, you'd have a distrust of them as well...

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Sith Happens

Only a gump could find it funny our chairman has sold the ground..to himself when they dont own a ground at all.

Would think there is more chance of being screwed over by the council than our own owner.

Oh i forgot the gumps are talking again about a new ground. How much capacity this time? 60, 70 80 thousand?

Should look good a quarter full.

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17 minutes ago, stoners said:

so just to clarify dcfc don't own the stadium

 

Mad mel does?

 

2 minutes ago, ramsbottom said:

Technically a company he owns does, but yes...

companies are separate legal entities so Mel might own the company that owns the ground but he doesn't actually own the ground.  That's been a legal standard for a century at least I would say

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Just now, Spanish said:

 

companies are separate legal entities so Mel might own the company that owns the ground but he doesn't actually own the ground.  That's been a legal standard for a century at least I would say

Apologies if I didn't clarify that well enough...

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29 minutes ago, stoners said:

so another company (owned by mad mel) owns the stadium?

Yes, in short: the stadium was valued as an asset at £41m on the clubs books. Mel brought in someone to independently value the stadium again, no doubt with the EFL's approval as you can't pay over market price as stipulated by the rules, and it was valued at £80m. 

He bought the stadium at market value through another one of his companies - £80m - which allowed us, the club, to show a profit of £39m. The difference between the original asset value and the purchased price. He will no doubt be leasing the stadium back to the club for a minimal cost. 

As mentioned, we would have made a loss of £24.4m without this transaction which would have undoubtedly put us closer, although not necessarily IN, as I understand, FFP (P&S) terrority. EDIT: it most certainly would have, going on face value: 2016 - 14.7m loss, 2017 - 7.9m loss & 2018 - 24.4m loss (£47m loss over three years). However, with the new figures, we have made an £8m loss over the three years. 

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9 minutes ago, Ambitious said:

Yes, in short: the stadium was valued as an asset at £41m on the clubs books. Mel brought in someone to independently value the stadium again, no doubt with the EFL's approval as you can't pay over market price as stipulated by the rules, and it was valued at £80m. 

He bought the stadium at market value through another one of his companies - £80m - which allowed us, the club, to show a profit of £39m. The difference between the original asset value and the purchased price. He will no doubt be leasing the stadium back to the club for a minimal cost. 

As mentioned, we would have made a loss of £24.4m without this transaction which would have undoubtedly put us closer, although not necessarily IN, as I understand, FFP (P&S) terrority. EDIT: it most certainly would have, going on face value: 2016 - 14.7m loss, 2017 - 7.9m loss & 2018 - 24.4m loss (£47m loss over three years). However, with the new figures, we have made an £8m loss over the three years. 

Thanks for that. Explained that really well

 

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What I take from it then you no longer own your stadium. I was right all along. Welcome t the club

Why did he sell the club when apparently listening to you lot all season you wernt in any problems concerning FFP.

Any concerns when Mad Mel sells the club and leases the stadium back to you at a redicularse price

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9 minutes ago, stoners said:

What I take from it then you no longer own your stadium. I was right all along. Welcome t the club

Why did he sell the club when apparently listening to you lot all season you wernt in any problems concerning FFP.

Any concerns when Mad Mel sells the club and leases the stadium back to you at a redicularse price

There are some unanswered questions as to how the 24.4m loss arose as the various snippets of available information don't seem to add up to this number - most of us were parroting the club who had repeatedly stated that although it might be close, there were no undue FFP concerns. Of course, none of us really know for absolute sure, so there is a healthy dollop of speculation. But we can be sure that IF we don't mend our spending ways, then we WILL have a problem in the future as we now have one less significant asset available to the club. 

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15 minutes ago, stoners said:

What I take from it then you no longer own your stadium. I was right all along. Welcome t the club

Why did he sell the club when apparently listening to you lot all season you wernt in any problems concerning FFP.

Any concerns when Mad Mel sells the club and leases the stadium back to you at a redicularse price

What club is that exactly?

He hasn't sold the club, only the stadium.  We said there were no problems, because Mel said they were no problems.  Probably because he's been negotiating this deal all season.  It's a bit different to Fawaz getting round a winding up order, because he finally hold of his Dad back in Kuwait to beg him for a bit more pocket money.

None whatsoever, as he's not a complete charlatan like Fawaz was.

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12 minutes ago, stoners said:

What I take from it then you no longer own your stadium. I was right all along. Welcome t the club

Why did he sell the club when apparently listening to you lot all season you wernt in any problems concerning FFP.

Any concerns when Mad Mel sells the club and leases the stadium back to you at a redicularse price

Doubt no matter how mad you think Mel is that he would try and screw the club he supports over and send us into the poo. Be more concerned if it was a foreign owner with no real affiliation to the club but I would hope we’re ok with Mel owning it. Personally think there’s two reasons behind this; one to clear the ffp problem, as explained in posts above we’d have fallen into FFP punishment territory without the sale, with it we appear to be well clear now. And secondly, there’s been rumours Mel wants the stadium as a business venture outside football when he sells the club, putting a roof on and holding over events etc and keeping profits from that as well as potential redevolpments on the ground. None of which hugely affects us as long as we still have it when the footballs on, which we do, on a long term lease probably closing in on the lifetime of the stadium. 

Only real negative impact I can see provided all the above is true is that it means we don’t get revenue from the stadium outside matches (of which there is very little currently anyway) and it reduces the value of the club. But maybe that attracts more investors who don’t want to shell out too much to start with given they’ll have to clear debt when they take over.

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26 minutes ago, stoners said:

What I take from it then you no longer own your stadium. I was right all along. Welcome t the club

Why did he sell the club when apparently listening to you lot all season you wernt in any problems concerning FFP.

Any concerns when Mad Mel sells the club and leases the stadium back to you at a redicularse price

just utilising assets to stay well within PS.  As we said no problems regarding meeting the requirements.  Given you guys appear to have splashed the cash recently what's your view on your exposure to SP?

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16 minutes ago, Millenniumram said:

Doubt no matter how mad you think Mel is that he would try and screw the club he supports over and send us into the poo. Be more concerned if it was a foreign owner with no real affiliation to the club but I would hope we’re ok with Mel owning it. Personally think there’s two reasons behind this; one to clear the ffp problem, as explained in posts above we’d have fallen into FFP punishment territory without the sale, with it we appear to be well clear now. And secondly, there’s been rumours Mel wants the stadium as a business venture outside football when he sells the club, putting a roof on and holding over events etc and keeping profits from that as well as potential redevolpments on the ground. None of which hugely affects us as long as we still have it when the footballs on, which we do, on a long term lease probably closing in on the lifetime of the stadium. 

Only real negative impact I can see provided all the above is true is that it means we don’t get revenue from the stadium outside matches (of which there is very little currently anyway) and it reduces the value of the club. But maybe that attracts more investors who don’t want to shell out too much to start with given they’ll have to clear debt when they take over.

Oooh don't say that, you'll only encourage idle speculation that some potless chancer like Adam Pearson might start sniffing around....?

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