Admin appeals 12 point deduction

[Geoff Parkstone]

yes agree, Id take 9 points every time on that - guess it was 3 points for each year where the rolling 3 year loss was over the threshold (17-18 was a dodged bullet)? This despite internally flogging the ground for a value some might feel was excessive impacting several of the 3 year cycles.

yep, looks to be pretty light, although actually the annual breaches were not enormous.

I'm still waiting to see how much the ground is valued at when the sale to new owners is completed! For example if its chucked in for an extra 40m I wonder what the EFL might think of the related party transfer value a few years earlier. Hopefully this agreement has sealed the past off

[swaledale]

yes agree, Id take 9 points every time on that - guess it was 3 points for each year where the rolling 3 year loss was over the threshold (17-18 was a dodged bullet)? This despite internally flogging the ground for a value some might feel was excessive impacting several of the 3 year cycles.

yep, looks to be pretty light, although actually the annual breaches were not enormous.

I'm still waiting to see how much the ground is valued at when the sale to new owners is completed! For example if its chucked in for an extra 40m I wonder what the EFL might think of the related party transfer value a few years earlier. Hopefully this agreement has sealed the past off

Word is that Morris will waive the debt on the stadium so it will cost nothing to transfer ownership. Not sure the EFl can think anything of that if its true.

[Geoff Parkstone]

ah but it will have to be valued for SDLT purposes as the treasury will want their cut based on the value of the property under transfer. You cannot get away with a nil value, nil stamp duty on the basis you describe, else we would all see our houses for £ 10 and the furniture for 500,000...........

[Andy_Faber]

ah but it will have to be valued for SDLT purposes as the treasury will want their cut based on the value of the property under transfer. You cannot get away with a nil value, nil stamp duty on the basis you describe, else we would all see our houses for £ 10 and the furniture for 500,000...........

could be £4mish? Unless (as I tried and failed recently) they claim successfully that the premises are derelict...

[swaledale]

ah but it will have to be valued for SDLT purposes as the treasury will want their cut based on the value of the property under transfer. You cannot get away with a nil value, nil stamp duty on the basis you describe, else we would all see our houses for £ 10 and the furniture for 500,000...........

True, but doubt the EFL will worry too much how much Mel loses on the deal! It will surely have a value put on it by the Administrators as they have to list assets and liabilities.

[Geoff Parkstone]

except the business that the adminstrators are administrating does not own the ground............??

[macstheman]

Amongst the many individuals/organisations we(Mel) owe significant amounts to are local businesses and, very disturbingly, the Ambulance Service and St Johns Ambulance!
I find that totally reprehensible and disgusting! These organisation, many of them volunteers, provide help to people in often life threatening situations at their darkest moment and for Mel to hold them in such utter contempt is, IMO, totally unforgivable. Sort it Mel!

[Geoff Parkstone]

That's just the law of unintended consequences, Mac. Bills get paid monthly, so when the axe falls there will be money due to all sorts of suppliers. Now that's not to say Mel can't or won't pay amounts due to this sort of creditor personally, but he will need to wait for the admin process ends to look at cases like this

[macstheman]

I wait with bated breath!

[macstheman]

I see some fans have set up a donation fund to clear the St Johns debt and this has already exceeded the target through fans donations. This debt has now been paid off! Well done to everyone, at least someone has a conscience Mel!! Pity it wasn't you!