pardoeofftomexico
Well-Known Member
- Joined
- 27 Jul 2014
- Messages
- 557
Wafty Cranker said:coleridge said:casualdeyna said:It used to be that we rented the stadium off MCC by giving away any revenue from tickets sold above the 32/33k capacity of Maine Road, so expanding the stadium made no sense as MCC would just get the extra revenue from the ticket sales (presumably not expanded hospitality though.)
Now though we pay a flat rate per annum, regardless of how many games we have and how many tickets we sell, which then makes perfect sense to expand as we pay the same rate regardless but get more income.
"Owning" the stadium doesn't really matter, our agreement with MCC means it is "our" stadium lock, stock and barrell, we just pay the council a flat rate per annum for it, think of it as ground rent like with a house. It is only rags who seem concerned official ownership sits with MCC, everyone knows this is our stadium, in our City
Yes, I understand the long lease concept. So the answer to my question seems to be that MCC owns all parts of the stadium in equity if not in possession. Does the stadium form part of MCC's fixed assets, I wonder? It surely can't be included in MCFC accounts.
It can & it is. I remember looking at the figures in the annual report a few years ago and it's in there.
Yes, the stadium is in the Balance Sheet. When you have a long term leasehold which in this case was 250 years from 2003 the valuation is brought into fixed assets as if it were owned and the discounted cost of what has to be paid to the landlord is brought in as a liability. By the time we win the Champions League everyone on Bluemoon will be a finance expert!