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Sheffield Wednesday have sold Hillsborough to their owner (following on from Villa and Derby doing the same with their stadia) so they can post a profit in their accounts and avoid EFL sanctions for breach of FFP (now profitability and sustainability) rules.
https://www.bbc.co.uk/sport/football/48964055
This feels like a technical fiddle to circumvent the rules - and avoid getting caught like Birmingham last season with their 9 point penalty for breach of spending rules.
It shows how close some clubs have been to the cliff edge. Are there others known to be in danger this season?
Does anyone with a better understanding than me of the league spending rules think these clubs will be OK with this sort of deal. It looks like a deception to me - club owned by rich man sells stadium to same rich man and spending problems go away!
It sounds distinctly dodgy to me in terms of FFP, but, maybe worse than that, it puts those three clubs in a position whereby their owners could sell the ground to any supermarket, property development company etc. they wanted to when the time came that they wanted to cut their losses and sever their ties to those clubs, thereby leaving them in the sort of state Brighton once faced and Coventry now face.Originally Posted by jon1959
The EPL has already ruled its ok to do. Middlesbrough only team to really object.
However the PL has ‘apparently’ opened an investigation into Villa doing it. Doubt will mean anything
Bit of a of a piss-take really. Amazing that they do not reverse out related party transactions (or impute arm's length terms) or capital disposals when assessing this. It should be measured by reference to underlying earnings, not bolstered by exceptionals.
I read, admittedly not a hugely reliable source, that if Bruce goes to Newcastle it would involve a £6million compensation package to Wednesday. That sort of compensation from one troubled club to another for circa 15 games only is the best deal since we sold McLean to Plymouth.
Or Joe Mason for £3m!
It would seem to be OK to do this, but further down the line when the owner gets fed up with the club that's when the trouble starts. The club would barely have any assets and some disgruntled ex-owner owns the ground, not the way to go. I think Cardiff City Council have it that our Stadium cannot be sold like this without their permission. wouldn't surprised if the West Wales Hedge Fund wanted to do this.....oh no it's a Council owned stadium.
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