Rev Posted March 1, 2022 Share Posted March 1, 2022 We know Mel now owns the ground, and the company that owns it isn't part of the administration, but what else do we know as fact? Did Mel hand over £80m as per the valuation, or did he hand over the difference between the new valuation and the asset value already proscribed? Did any actual cash change hands, or was it a paper only transaction shuffling the ground between two related parties? I'm sure others have more questions, can anyone answer without guessing? RadioactiveWaste and jimtastic56 1 1 Link to comment Share on other sites More sharing options...
Tombo Posted March 1, 2022 Share Posted March 1, 2022 Unfortunately I think we can only guess. But the best guess I've heard is that Mel "bought" the stadium from the club for £80m but the club already owed him significantly more in his loans over the years. So actually, we still owe him some money (which he has agreed to waive) but he has a stadium to soften the blow. Basically we offset the £80m against what we already owed him, so there was no extra cash flow for the club, just a debt written off in exchange for the stadium. Unfortunately for him, he actually took out a loan guaranteed against the stadium which he is yet to pay back. He will pay this back once someone buys the stadium off him. This is why he won't accept any less than the asking price from potential buyers. ...I think... Rev and Carnero 2 Link to comment Share on other sites More sharing options...
cosmic Posted March 1, 2022 Share Posted March 1, 2022 If he'd paid some bills before he left, he might have stood a chance of a new owner having some spare cash left over to buy the stadium back. Papahet, Premier ram, r_wilcockson and 1 other 3 1 Link to comment Share on other sites More sharing options...
Ram-Alf Posted March 1, 2022 Share Posted March 1, 2022 I'm neither thinking or guessing, But didn't MM mention from local reports...ie Black n White Together, Derby City Council, RamsTrust, Team Derby that the ground will move over to DCFC...I can't think of the words that were said...but something like...Gifted, A community asset, A smooth transaction for the new owner...or was this a woefull dream? Link to comment Share on other sites More sharing options...
winktheram Posted March 1, 2022 Share Posted March 1, 2022 the £80M 'sale' amounted to previous loans he gave the club. So no cash changed hands but all above board, unlike the Shef Wed issue. Link to comment Share on other sites More sharing options...
G STAR RAM Posted March 1, 2022 Share Posted March 1, 2022 28 minutes ago, Tombo said: Unfortunately I think we can only guess. But the best guess I've heard is that Mel "bought" the stadium from the club for £80m but the club already owed him significantly more in his loans over the years. So actually, we still owe him some money (which he has agreed to waive) but he has a stadium to soften the blow. Basically we offset the £80m against what we already owed him, so there was no extra cash flow for the club, just a debt written off in exchange for the stadium. Unfortunately for him, he actually took out a loan guaranteed against the stadium which he is yet to pay back. He will pay this back once someone buys the stadium off him. This is why he won't accept any less than the asking price from potential buyers. ...I think... 9 minutes ago, winktheram said: the £80M 'sale' amounted to previous loans he gave the club. So no cash changed hands but all above board, unlike the Shef Wed issue. Think both of these are factually incorrect. At the 30 June 2018 (the year in which the stadium was sold) there was nothing owed to MM or his companies by The Derby County Football Club Limited. So at this point the club were owed circa £75m for Gellaw. My guess is that any money that was put into the club from that point forward reduced the amount owed to the club and as the £75m is not shown on the statement of affairs, one can assume that the whole £75m was exhausted. Obviously this is just an opinion because there are no accounts filed since June 2018. Rev 1 Link to comment Share on other sites More sharing options...
Ambitious Posted March 2, 2022 Share Posted March 2, 2022 Whatever he did when he ‘bought’ the stadium, considering everything we know about the man, we can guarantee that no money was ever paid into the club and ‘adjustments’ would’ve been the method of payment. Link to comment Share on other sites More sharing options...
RAM1966 Posted March 2, 2022 Share Posted March 2, 2022 (edited) The 'Sale' is wooden dollars transaction, basically, he technically sold the stadium to another company he owned for the value of £81.1M. This was a paper transaction to write off the soft loans (money pumped into the club to keep us afloat and avoid breaching P&S rules). So where did the £81.1M go, nowhere it never really existed. The difference between the old book value of the club was subtracted from the new one to balance out the loses.... He did however have to factor in the Stamp Duty Land Tax to HMRC when purchasing tge stadium form himself to himself, shows the despiration of it all really, not the act of a shred businessman! This needs outlawing to stop assets from football clubs being extracted to protect inept owners covering thier loses in tge event thst thier high stakes poker games do not pay off.... Edited March 2, 2022 by RAM1966 Ted McMinn Football Genius and Oldben 2 Link to comment Share on other sites More sharing options...
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