Since 62's commentary on club accounts y/e 31/5/19.

[BlueToujours]

I quote Since62, "Firstly, the 2018 loss was significantly reduced down to £9m by a £27m revaluation adjustment on the club`s stadium."

You will need to ask Since 62 exactly what he meant by that but I stand by my statement. A company cannot reduce it losses by merely increasing the value of its assets until any of the assets are sold at a greater figure than its book value. The increase in value will be shown in the accounts as a revaluation reserve thus increasing the net worth of the Company not its annual profit.

In the cases of DerbyCounty. Sheffield Wednesday and, I believe, also Aston Villa, the asset ie the Stadium, was sold at a greater value than in its books thus creating a profit on sale the sale of the asset.