Curtains Posted January 16, 2020 Share Posted January 16, 2020 Must of lost more than 39 million over 3 years up to 2018. Valuation of PP is tipping point Link to comment Share on other sites More sharing options...
Zag zig Posted January 16, 2020 Share Posted January 16, 2020 45 minutes ago, Ghost of Clough said: The club sold the stadium to Mel under approval of the EFL. The club then conducted business in a manner which it wouldn't have ordinarily done if the EFL hadn't approved the sale. The EFL then approved out financial report(s). The EFL waited until Gibson complained before looking into the stadium sale. The EFL concluded it wasn't right, and probably took the profit from the sale out of the accounts, resulting in us overspending for that financial period. The EFL then released a statement saying "Derby County charged with excess losses" Maybe Mel’s done due diligence enough with solicitors to know he’s got duck all to worry about. Maybe he’s furious enough to get his solicitors acting rather swift if proven innocent, to go after a few mud slingers once this is all done too. Link to comment Share on other sites More sharing options...
Millenniumram Posted January 16, 2020 Share Posted January 16, 2020 2 minutes ago, cheron85 said: There's a difference between a charge and a conviction though Of course, but the EFL are gonna have to make themselves look like total fools to backtrack on this now. And regardless, there shouldn’t even be a chance of punishment from this if the finances were managed correctly. FWIW I fundamentally disagree with FFP. It’s existence is to the detriment of the game and clubs like us. But the rules are there and you have to follow us. And after being told we were within the regulations.... this happens. Link to comment Share on other sites More sharing options...
Marriot Ram99 Posted January 16, 2020 Share Posted January 16, 2020 21 minutes ago, Duracell said: List of clubs who have been relegated to the third tier, and then have subsequently overtaken us since our relegation from the Premier League in 2007/08: - Leicester City - Norwich City - Leeds United - Sheffield United - Wolverhampton Wanderers - Southampton Similar-sized clubs to us. It's not necessarily a death sentence. With how poo things have gone with us in recent years and how rapid our demise has become, I would fully expect a midtable finish if we were in league 1 next season and a struggle to get back up which could set us back years. 100% we shouldn't even think about League 1, if we get relegated Mel Morris and everyone connected to recruitment should be forced out and publicly humiliated and not aloud to set foot in pride park stadium in my view. I am so ducked off, we have become a laughing stock, Forest run by a ducking corrupt gangster style owner and Leeds are well run compared to us. The fact that we are 17th in the league whilst they could both be promoted this season really rubs salt into the wounds as well. Link to comment Share on other sites More sharing options...
Uptherams Posted January 16, 2020 Share Posted January 16, 2020 2 minutes ago, 1967RAMS said: I don’t think the sale of the stadium is the issue. It’s the amount paid. The stadium was on our books as an asset for 41 million, yet was sold for 80. Add this extra 39 million onto our stated loss of 8 million and that’s the problem, it breaches the allowed 39 mil over 3 years. The FA accepted the sale but not the amount. We are in bother, as are the so called independent valuer who made up the 80 million figure. It’s not the FA I would worry about If I was Mel. It’s the possible investigation by the inland revenue and/or legal authorities, if this can be proved to be fraudulent I'd say the independent valuation will be more accurate than the one conducted by the EFL as it will take into account the potential commercial expansion of the stadium. Link to comment Share on other sites More sharing options...
Mr. P Posted January 16, 2020 Share Posted January 16, 2020 Hope Netflix pick this up. There’s something happening every week. Link to comment Share on other sites More sharing options...
Gritstone Ram Posted January 16, 2020 Share Posted January 16, 2020 How do you value a football stadium. Is it the cost of purchasing the land + the cost of construction or is it the constructed cost + potential revenue income. I reckon PP would cost more than £80m to build. Link to comment Share on other sites More sharing options...
Richard246 Posted January 16, 2020 Share Posted January 16, 2020 Forget any incomings. The Academy has just got promoted to the first team. perhaps Wayne can invest. Link to comment Share on other sites More sharing options...
Curtains Posted January 16, 2020 Share Posted January 16, 2020 53 Million loss in 3 years if you don’t count PP value in to the equation 11 point deduction maybe Range of sanctions open to EFL Hope it’s not as severe as a point deduction or transfer ban. Link to comment Share on other sites More sharing options...
Pearl Ram Posted January 16, 2020 Share Posted January 16, 2020 And on top of all this, bloody Lawrence is probably gonna start on Satdee. ☹️ Link to comment Share on other sites More sharing options...
Coneheadjohn Posted January 16, 2020 Share Posted January 16, 2020 17 minutes ago, Barney1991 said: Judging by birmingham it would only be a points deduction and not transfer ban aswell I think they would pick one or the other If they ban us from transfers it would be a reward. Link to comment Share on other sites More sharing options...
Uptherams Posted January 16, 2020 Share Posted January 16, 2020 4 minutes ago, Curtains said: Must of lost more than 39 million over 3 years up to 2018. Valuation of PP is tipping point During that period we probably wasted a third of that figure on payments involving the recruitment of Johnson and Anya ?? Link to comment Share on other sites More sharing options...
rammieib Posted January 16, 2020 Share Posted January 16, 2020 Lot of people jumping to conclusions about MM/DCFC without facts or knowledge. I fully believe that MM/SP would have done their homework on the valuation/ground sale to check everything is OK. I personally see the EFL falling on their faces here. Link to comment Share on other sites More sharing options...
Topram Posted January 16, 2020 Share Posted January 16, 2020 8 minutes ago, SaintRam said: It'll take them even longer if we decide we're definitely in the right and take them to court. Hopefully won’t effect our transfer business Link to comment Share on other sites More sharing options...
GenBr Posted January 16, 2020 Share Posted January 16, 2020 12 minutes ago, Duracell said: List of clubs who have been relegated to the third tier, and then have subsequently overtaken us since our relegation from the Premier League in 2007/08: - Leicester City - Norwich City - Leeds United - Sheffield United - Wolverhampton Wanderers - Southampton Similar-sized clubs to us. It's not necessarily a death sentence. Bournemouth went from starting 08/09 season in league 2 with -17 points to 5 years in the Prem since the last time we got promoted. 12 minutes ago, G STAR RAM said: Good week so far then. For those that are slating Pearce, MM and the club for being incompetent, just consider this, the charge relates to the June 2018 results which I believe are submitted to the EFL in December 2018. They are then officially signed off and filed at Companies House by March 2019. It is now January 2020. The EFL are not fit for purpose if it takes them 13 or at the very least 10 months to discover a problem with the submissions. Given that the ground sale created a huge profit, that wiped out the previous 2 years losses, this charge can only relate to the sale of the ground. We are told that this was done using a professional valuation, was within the rules in place at the time and was signed off by the EFL. I would suggest that there is a lot of evidence in our favour and everyone should wait to see what happens before starting another witch hunt. If we had to sell the ground to remain compliant then we are incompetent. We knew how much we were allowed to spend. I cant really see how the EFL can argue against out our valuation of the ground though if it was done by an independent body and signed off by themselves. 9 minutes ago, nogbad van 50 said: “ For the three year period ending in May 2018!” - I suspect the damage was caused by Sam Rush who was sacked in May 2017 for “ gross misconduct and a breach of fiduciary duty” If Leicester and QPR can get away with what they did then I’m sure Mel can steer around this situation but it’s increasingly evident that failure to get promoted and a plethora of inferior signings have brought us to this sorry state of affairs. Fasten your seatbelts folks!? I wouldn't call a £42 mill fine getting away with it. In any case the EFL has new powers now and can remove you from the promotion places or deduct points if you are still in the Championshiop. Even if you get promoted it didnt stop them going after qpr when they came back down. 7 minutes ago, Andicis said: They don't though, do they? Loads of clubs have broken the rules. The rules basically invite you to break them if you can spend enough to brute force promotion you never have to pay for breaking the rules. Clubs get around the rules in various ways, but you are only really immune if you get promoted in the first attempt and even then its not a guarantee. Most of the clubs promoted now are parachute payment clubs anyway though, so its unlikely theyd break ffp rules. You will probably see more of the pleb clubs getting punished in future when they try to compete with the parachutes. Link to comment Share on other sites More sharing options...
Keepyuppy Posted January 16, 2020 Share Posted January 16, 2020 Always amuses me when a basic statement releases hundreds of ‘Garden shed’ Accountants !! ??? Link to comment Share on other sites More sharing options...
Curtains Posted January 16, 2020 Share Posted January 16, 2020 Just now, Uptherams said: During that period we probably wasted a third of that figure on payments involving the recruitment of Johnson and Anya ?? Of course Derby will contest it all. Link to comment Share on other sites More sharing options...
G STAR RAM Posted January 16, 2020 Share Posted January 16, 2020 9 minutes ago, 1967RAMS said: I don’t think the sale of the stadium is the issue. It’s the amount paid. The stadium was on our books as an asset for 41 million, yet was sold for 80. Add this extra 39 million onto our stated loss of 8 million and that’s the problem, it breaches the allowed 39 mil over 3 years. The FA accepted the sale but not the amount. We are in bother, as are the so called independent valuer who made up the 80 million figure. It’s not the FA I would worry about If I was Mel. It’s the possible investigation by the inland revenue and/or legal authorities, if this can be proved to be fraudulent Why would the Inland Revenue investigate for over valuing a sale? Also if there is an independent professional valuation backing the amount up how is it fraudulent? Link to comment Share on other sites More sharing options...
ossieram Posted January 16, 2020 Share Posted January 16, 2020 Link to comment Share on other sites More sharing options...
bimmerman Posted January 16, 2020 Share Posted January 16, 2020 Who else reckons Rooney will be manager in June?? Cocu's gonna walk away and who can blame him What a farse Link to comment Share on other sites More sharing options...
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