pride park sale

[Geoff Parkstone]

If the EFL believe that we sold assets at an artificially high profit, then they should investigate us getting £ 1.8 million for Rowett rather than the surplus on the ground. The former was the greater mark up on value

[StensonRam]

And the 4m we got for a rookie manager with a years experience

[MadAmster]

...plus however much we got for an assistant manager and a 1st team coach

[AngryRam]

We're bandits

[mistaram]

I'd hope so too. The gain on sale was not the sale price, but the excess of the sale price over the written down value at the time of sale. Assets disposed of during the year to June 2018 include property with an original cost of £ 56.2 million as well as a couple of million in fixtures fittings and construction in progress. Depreciation already charged was £ 14.5 million on property and £ 16.4 million on total assets.

Thus net book value of property sold was £ 41.4 million, and of other assets (presumably included in the stadium) was£ 1 million.

The profit on disposal of the ground was £ 39.9 million

Thus the building was sold for £ 81.3 million, or £ some £ 82 million including fixtures and fittings inside it


Basically it was sold for double its book value, but only at a premium of £ 24 million over gross cost/valuation at the time of sale. This latter figure probably includes a recent revaluation, as the original build cost was substantially less than this, but I cant be arsed to trawl back to find when that £ 56m valuation was last done.

FYI the operating loss for last year was £ 31 million, offset by the sale of PP (£ 40m) the sale of players (£ 3.7m) and the disposal of Rowett (£ 1.8 million) giving a £ 14.5 overall profit

Geoff it was independently called at 55million in 2007 and it's in the 2008 accounts

[MadAmster]

In a topic on the subject of the FA investigation elsewhere on tinterweb thingy a poster informed us that "A complaint led by the DYS calling it a financial wrong doing to get around the FFP rules" was the catalyst to the FA looking at the situation again.

You know that same DYS that went into insolvency in 2004 owing money to all and sundry and paying nobody, became reborn, and then went into administration in 2007 owing money yet again and to have the second coming with a board reshuffle and a different parent company name but without paying the debts incurred yet again. Both occasions due to overspending on players and wages.
Convenient short memories?

Such a great bunch of pillocks those folk from that part of Yarksher.......

[Geoff Parkstone]

Geoff it was independently called at 55million in 2007 and it's in the 2008 accounts

Cheers, saves me hunting it down. 10 years ago 56m, today 82m. More plausible. But that was when we had our year in the PL so that would have probably pushed value up a bit back then with talk of an extra tier added and bigger revenue generating capability in PL.

Value has very little to do with original build cost, but is more related to net present value of expected future revenue streams derived from the asset. As of today I reckon its going down!!

[StensonRam]

Any news anywhere on who was the independent valuer?

Graham Penny maybe, is just a guess I have no idea who it was but if it was him/them then I'll start to worry as they aren't really that independent from DCFC

[MadAmster]

Any news anywhere on who was the independent valuer?

Graham Penny maybe, is just a guess I have no idea who it was but if it was him/them then I'll start to worry as they aren't really that independent from DCFC

In for a Penny might cost us a pound?

[mistaram]

Cheers, saves me hunting it down. 10 years ago 56m, today 82m. More plausible. But that was when we had our year in the PL so that would have probably pushed value up a bit back then with talk of an extra tier added and bigger revenue generating capability in PL.

Value has very little to do with original build cost, but is more related to net present value of expected future revenue streams derived from the asset. As of today I reckon its going down!!

Yes we've got restaurants and bars now that we never had in 2007,