shefcanary 2,956 Posted April 2, 2019 Report on their recent financial performance here: https://www.bbc.co.uk/sport/football/47789258 Is this all a bit desperate - smacks of the issues Dirty got in a few years back, and now the problem the Binners have. And increasing rumours abroad on social media that Derby were being threatened with FFP sanctions over their financial performance - surely selling the ground to the owner isn't a way around FFP either? Here's hoping it ends up biting them big style! A club going nowhere …..? Share this post Link to post Share on other sites
Feedthewolf 5,885 Posted April 2, 2019 Would be interested to know if selling the ground to the owner can be used as a tactic to avoid FFP – not that the Binners have that particular get-out clause available to them, of course... 😄 Share this post Link to post Share on other sites
Thirsty Lizard 3,215 Posted April 2, 2019 The story says that they sold the ground to the owner for £80 million and made a profit of just under £15 million. Does this mean that in reality they actually made a loss of £65 million? Share this post Link to post Share on other sites
wcorkcanary 4,786 Posted April 2, 2019 (edited) Makes me happy that we decided to rebuild the club rather than refinance it. All that glisters is not gold. Edited April 2, 2019 by wcorkcanary Share this post Link to post Share on other sites
nutty nigel 7,902 Posted April 2, 2019 Although the binners only rent their ground I believe they already did that with the training ground. I rent my place so if I had a tree growing out of the roof I'd ask the landlord to at least prune it. But I think there's some deal where they rent the ground but own a couple of stands. Selling your stadium to cover losses only works once and isn't sustainable long term. It's not like they can keep producing stadiums from a stadium academy. I hope nobody is upset if I mention our plans for a sustainable model are far superior... Share this post Link to post Share on other sites
Feedthewolf 5,885 Posted April 2, 2019 2 minutes ago, nutty nigel said: Although the binners only rent their ground I believe they already did that with the training ground. I rent my place so if I had a tree growing out of the roof I'd ask the landlord to at least prune it. But I think there's some deal where they rent the ground but own a couple of stands. Selling your stadium to cover losses only works once and isn't sustainable long term. It's not like they can keep producing stadiums from a stadium academy. I hope nobody is upset if I mention our plans for a sustainable model are far superior... We need a stinking rich Chinese investor. 1 Share this post Link to post Share on other sites
Badger 2,745 Posted April 2, 2019 Thanks for this Shef- very interesting! Always concerning for a club if they sell their ground - it doesn't have many upsides! 2 Share this post Link to post Share on other sites
Bill 1,788 Posted April 2, 2019 46 minutes ago, Feedthewolf said: We need a stinking rich Chinese investor. In my student days we had a landlord who was a bit of a 'soap dodger', who went by the name of Richard he was known by one and all as 'stinking Rich'....................................amongst other things Share this post Link to post Share on other sites
Michael Starr 571 Posted April 2, 2019 The East Midlands club, managed by former England and Chelsea midfielder Frank Lampard < sigh, the media cannot help themselves can they. How is that relevant to the story haha. Share this post Link to post Share on other sites
Juggler 7 Posted April 2, 2019 The report says the stadium was valued at £41m in the accounts meaning a profit on the sale of £39m. This suggests that without the sale they would make a loss of £24.4m. This added to the previous losses totals £47m over 3 years, £8m above the allowed £39m. Creative accounting in action! 1 Share this post Link to post Share on other sites
keelansgrandad 6,680 Posted April 2, 2019 I guess most of their supporters are breathing a sigh of relief. I would wager that they expected Frank Lampard's DC to be one of the promoted sides. They have been in the playoffs 3 out of the last 5 seasons so that would have to be a minimum I expect. Morris, the owner and a local man, is fairly wealthy so I don't see anything sinister other than as has been said, just creative accounting to avoid trouble. Share this post Link to post Share on other sites
splendidrush 720 Posted April 2, 2019 If he's paid over the odds for the Stadium and he's looking to sell his interest in the Club, you can bet the new owners will have to pay him extortionately high rent to continue playing there..... He's going to want to get his money back somehow. Share this post Link to post Share on other sites
K Lo 246 Posted April 3, 2019 Maybe Morris will give Derby County the stadium back then buy it off them again in another 5 years or so. Share this post Link to post Share on other sites
Well b back 3,606 Posted April 3, 2019 FA won’t take action as it’s Frank Lampards Derby. Seems to be one rule for the big and media darling clubs and another for the likes of Birmingham. Share this post Link to post Share on other sites
Woodman 92 Posted April 3, 2019 20 hours ago, Michael Starr said: The East Midlands club, managed by former England and Chelsea midfielder Frank Lampard Are they?! Well, I never knew that! you'd have thought someone would have mentioned that before now... Share this post Link to post Share on other sites
Trevor Hockey's Beard 606 Posted April 3, 2019 Is this actually legal? I thought that manipulating profits by overpaying for something would have HMRC getting interested? What is the market value of Derby's ground - as opposed to the book value. Any accountants about? Share this post Link to post Share on other sites
Indy 3,477 Posted April 3, 2019 Yes unfortunately its happened before, Oxford went the same way, Kassam sold the old Manor Ground for massive profit, he then got lots of help to build the new stadium, which he owns and rents to Oxford United. So I believe made massive profits off the club and still pockets £600,000 a year in rent I believe. Share this post Link to post Share on other sites
Badger 2,745 Posted April 4, 2019 On 02/04/2019 at 16:50, Michael Starr said: The East Midlands club, managed by former England and Chelsea midfielder Frank Lampard < sigh, the media cannot help themselves can they. How is that relevant to the story haha. Oh Frank Lampard's at Derby is he...? Share this post Link to post Share on other sites
