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Mags selling their stadium to themselves


Hot Since 82 said:
Hall, Livramento, Bruno, Tonali and Gordon, after them they not making big profits on any/many of the others. Hopefully they stick with Eddie and Andy this summer and they recruit half a dozen expensive duds.
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They’ll make decent profit on them all after amortisation though.

PTR said:
So the stadium was already owned by the sauidis via the company they created to buy the whole club, and they've just sold the stadium to another company they created purely for this purpose.
Same owners, same bloody name on the company. Yet somehow this is perceived as revenue to the club-company without any according loss of value on the balance sheet?

That's just cheating, surely?
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All perfectly legal, morally wrong but under EPL rules it’s currently allowed. Newcastle fans went 2 footed at Villa for doing the exact same thing, shouted corruption and they were better than that but it’s all been allowed before the rule change. Women’s team will be sold shortly before that rule change too.
 
So if someone else buys them they won't own the leasehold on the ground? This could cause massive issues down the line. To all intents and purposes PIF own it now.
 
mackemed2 said:
So if someone else buys them they won't own the leasehold on the ground? This could cause massive issues down the line. To all intents and purposes PIF own it now.
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They’ll be sold as one, makes no real difference unless PIF really wanted to annoy the fans then they could sell the club to somebody and up the rent but that a silly business move.
 
Part of the cartel now then aye? I mean this is what loads of them have been moaning about other “cartel” clubs doing to skirt around the rules. Reading into it another way maybe this is the last throw of the dice and they’ll look to “bend” rules to put money in. Hopefully this is t that and is the flip side and they’re losing interest.
 
Roker Scoreboard said:
PIF owned it one way or another before this exercise didn't they? So it's just a Chelsea style way of making some money on the balance sheet.
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Exactly but they could be twats, Mel Morris basically blocked Ashley buying Derby as he wouldn’t sell the stadium to him even though the football club was in administration. It’s jus an accounting move no real change in ownership.
 
mackemed2 said:
So if someone else buys them they won't own the leasehold on the ground? This could cause massive issues down the line. To all intents and purposes PIF own it now.
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I mean im no financial guru but in essence does this not move the ground and the associated extra land out of the club ? If thats the case if the saudis sell up they will retain the stadium and surrounding land .
Its a way if getting the club valuation down for sale i suppose as no one was going to pay £1b . It would leave any new owners paying rent and surrounded by development though ?
Lets hope it goes tragically wrong
 
Hot Since 82 said:
Hall, Livramento, Bruno, Tonali and Gordon, after them they not making big profits on any/many of the others. Hopefully they stick with Eddie and Andy this summer and they recruit half a dozen expensive duds
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Yeah. Those are the main assets they have to sell.

That being said, Bruno will be 29 this time next year with one year left on his deal by then so he might not be quite as big a fee as he once may have been (despite arguably being their best player). Livramento would also have one year left on his deal this time next year. He is also a bit of a sick note (missed most of two of the last 4 seasons) and not sure what his level is at the moment. Howe still appears unsure if he is better than Trippier and there are rumours he is still frozen in time watching Brobbey have two bites of the cherry to score after getting in front of him to the near post...
 
It's called Financial Engineering. Just a bookkeeping entry nothing changes and the authorities should be able to see straight though it and discount it for FFP (to the extent that there is any benefit- I wouldn't know). Sold to a genuine 3rd party would be a different matter. Similar to some of the Man City shenanigins
 
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