City & FFP | 2020/21 Accounts released | Revenues of £569.8m, £2.4m profit (p 2395)

BlueAnorak said:
Going back to the subject of Karen Brady and her inability to grasp the basics of FFP it is interesting to compare the costs of the the conversion of both stadia for the use of Football and how long it will take the club to pay for the costs of the stadium...

The City of Manchester Stadium, built for a cost of £112m of which £77m came from Sport England & £35m from Manchester Council. MCFC then spent £50m of there own money converting it to a Football Stadium. City then paid a rent of £2m a year that in the fullness of time would have resulted in City paying the stadium construction and conversion costs over 54 years.
After Sheikh Mansour took over, City tried to buy the Stadium but discovered all the money would go to Sport England rather than Manchester sport projects, so to keep the money going to Manchester sports projects City bought the Stadium naming rights and doubled the amount they paid to to council to £4m a year allowing the stadium to be extended (at City's cost). As such City now pay rent that will pay for the stadium in 26 years. With an additional £296m going to council sports projects over the first 100 years of the lease.

Lets now look at West Ham. I'll ignore the £486m of stadium construction costs as after conversion the Olympic Stadium can still be used for Athletics and just concentrate on the costs to upgrade it to be West Ham's new home. West Ham are paying £15m to add to the tax payers £275m to fund conversion - while only paying rent of £2.5m INCLUDING stadium naming rights when used as a football stadium (The XXX Olympic Stadium). As such West Ham will pay for their use of the stadium in 110 years! That's 4 times longer than City will take to pay for the whole stadium and it's conversion.

Compared with West Ham's OUTRAGEOUS deal for the Olympic Stadium the cost of COMS is an absolute bargain! I think Brady is 'aving a total Giraffe and should look a bit closer to home for dodgy deals
Click to expand...
Hear hear.

Total shambles and a classic case of daylight robbery that West Ham have pulled on the British tax payer.
 
BlueAnorak said:
Going back to the subject of Karen Brady and her inability to grasp the basics of FFP it is interesting to compare the costs of the the conversion of both stadia for the use of Football and how long it will take the club to pay for the costs of the stadium...

The City of Manchester Stadium, built for a cost of £112m of which £77m came from Sport England & £35m from Manchester Council. MCFC then spent £50m of there own money converting it to a Football Stadium. City then paid a rent of £2m a year that in the fullness of time would have resulted in City paying the stadium construction and conversion costs over 54 years.
After Sheikh Mansour took over, City tried to buy the Stadium but discovered all the money would go to Sport England rather than Manchester sport projects, so to keep the money going to Manchester sports projects City bought the Stadium naming rights and doubled the amount they paid to to council to £4m a year allowing the stadium to be extended (at City's cost). As such City now pay rent that will pay for the stadium in 26 years. With an additional £296m going to council sports projects over the first 100 years of the lease.

Lets now look at West Ham. I'll ignore the £486m of stadium construction costs as after conversion the Olympic Stadium can still be used for Athletics and just concentrate on the costs to upgrade it to be West Ham's new home. West Ham are paying £15m to add to the tax payers £275m to fund conversion - while only paying rent of £2.5m INCLUDING stadium naming rights when used as a football stadium (The XXX Olympic Stadium). As such West Ham will pay for their use of the stadium in 110 years! That's 4 times longer than City will take to pay for the whole stadium and it's conversion.

Didn't City also hand Maine Rd to the Council as part of the deal. As I understand West Ham are not doing this.

Compared with West Ham's OUTRAGEOUS deal for the Olympic Stadium the cost of COMS is an absolute bargain! I think Brady is 'aving a total Giraffe and should look a bit closer to home for dodgy deals
Click to expand...

I thought City also handed over Maine Rd as part of the deal. Not sure WH doing same
 
You can hardly blame West Ham for securing a very good deal. Blame the government for building a white elephant, and then failing to secure a good deal for the sell on.
West Ham are simply the buyer. If I put in a cheeky offer on a house well below the true value, and the seller accepts the deal, you can't blame me!

Then you have to look at another way too. The government is ultimately left with a white elephant on its hands. If the best offer is a measly one, what should it do? hold out for a better offer that might never arrive? Or accept it's a buyer's market, and at least recoup SOME money (even if it's a pitiful amount)?

Perhaps they would have been better to just knock it down and sell the land on, but that would incur a very heavy political price too, which is also a factor in all of this.

This only become a real story if there's a comparison with other bids for the stadium, THEN the public can start asking questions about why West Ham were chosen.
 
As it's champions League night, let's look at the impact of CL prize money on FFP.

Ignoring ticket money, CL prize money for this season increases by 50% (ish)
So qualifying for the group stage = €12.0m (previously €8.6m);
Each group win = €1.5m (€1.0m);
Each group draw = €0.5m (€0.5m);
R16 qualification = €5.5m (€3.5m);
QF qualification = €6.0m (€3.9m);
SF qualification = €7.0m (€4.9m);
Runner Up = €10.5m (€6.5m);
Winner = €15.0m (€10.5m);
Max = €54.5m (€37.4m);

And any club can still only invest €35m over 3 seasons to comply with UEFA FFP!
The existing prize money already turns the list of regular CL qualifiers into a Cartel - The new prize money levels make it very difficult even for a club like Utd to get back in to the CL if you drop out!
 
Here's an idea for actual fair FFP. Anyone can spend what they like but at least 10% of all spend annually must be on infrastructure/academy or else you'll be sanctioned.
 
Rolee said:
Here's an idea for actual fair FFP. Anyone can spend what they like but at least 10% of all spend annually must be on infrastructure/academy or else you'll be sanctioned.
Click to expand...
So the rags will spend all theirs on getting rid of the rat infestation. Come to think of it, there would then be an empty ground on match days.
 
You must log in or register to reply here.
Unread Posts

Don't have an account? Register now and see fewer ads!

SIGN UP
Back
Top
✖
  AdBlock Detected
Bluemoon relies on advertising to pay our hosting fees. Please support the site by disabling your ad blocking software to help keep the forum sustainable. Thanks.