Post subject: Re: Wembley my god there selling it!
Posted: Thu Apr 26, 2018 2:10 pm
PCollinson1990
Club Captain
Joined: Jan 02 2017 Posts: 1401
Riderofthepalehorse wrote:Is nowt sacred anymore, just got to liking it after 50 #######years.
An offer has been made, the FA haven't made any comment. £800m is well below it's value and the land around it. It cost nearly £800m to build, a world famous stadium doesn't depreciate.
Unless of course I've not read something you have.
I've read some more articles, the offer is £500m, England playing on the road and at Wembley. The FA keeping the Club Wembley side of things and Jacksonville playing "home" games there. Shad Khan seems to be the only person talking it up. Jacksonville are hardly a glamour team in NFL.
Post subject: Re: Wembley my god there selling it!
Posted: Thu Apr 26, 2018 3:02 pm
Riderofthepalehorse
International Star
Joined: Mar 23 2018 Posts: 6675 Location: Kingston upon Hull
PCollinson1990 wrote:An offer has been made, the FA haven't made any comment. £800m is well below it's value and the land around it. It cost nearly £800m to build, a world famous stadium doesn't depreciate.
Unless of course I've not read something you have.
I've read some more articles, the offer is £500m, England playing on the road and at Wembley. The FA keeping the Club Wembley side of things and Jacksonville playing "home" games there. Shad Khan seems to be the only person talking it up. Jacksonville are hardly a glamour team in NFL.
Latest from sky sports, FA have confirmed they are in talks, re the sale of Wembley Stadium.
PCollinson1990 wrote:An offer has been made, the FA haven't made any comment. £800m is well below it's value and the land around it. It cost nearly £800m to build, a world famous stadium doesn't depreciate.
Unless of course I've not read something you have.
I've read some more articles, the offer is £500m, England playing on the road and at Wembley. The FA keeping the Club Wembley side of things and Jacksonville playing "home" games there. Shad Khan seems to be the only person talking it up. Jacksonville are hardly a glamour team in NFL.
Latest from sky sports, FA have confirmed they are in talks, re the sale of Wembley Stadium.
Hopefully the country can sell The Houses of Parliament and a few of the royal castles too. More research needed, but isn't Wembley subject to covenants. Depending how quickly this happens FC could be the last team to win the CC at Wembley...
Post subject: Re: Wembley my god there selling it!
Posted: Thu Apr 26, 2018 5:23 pm
bonaire
International Star
Joined: Apr 04 2014 Posts: 7819
PCollinson1990 wrote:Hopefully the country can sell The Houses of Parliament and a few of the royal castles too. More research needed, but isn't Wembley subject to covenants. Depending how quickly this happens FC could be the last team to win the CC at Wembley...
i doubt they will be able to sell it as Wembley was built with over 150 million of Government and lottery funding. The Government will step in.
Post subject: Re: Wembley my god there selling it!
Posted: Thu Apr 26, 2018 5:28 pm
PCollinson1990
Club Captain
Joined: Jan 02 2017 Posts: 1401
bonaire wrote:i doubt they will be able to sell it as Wembley was built with over 150 million of Government and lottery funding. The Government will step in.
Thought as much, similar to the KC, The FA don't actually "own" it, WNSL do, had Sport England and Central Government funding, valued at over £1bn (well over), can't see this being legally (or morally) right.
Post subject: Re: Wembley my god there selling it!
Posted: Thu Apr 26, 2018 5:45 pm
PCollinson1990
Club Captain
Joined: Jan 02 2017 Posts: 1401
The Dentist Wilf wrote:Their problem is the debt charges and interest they are still paying on the loan they took out to rebuild it. around £300,000 a week apparently.
Easy to fix, stop giving PL clubs so much of the TV money, that's roughly what Rooney "earns", stop paying off failed England managers massive mobneu, move out of Central London to Halifax. The FA are as bad as the RFL at business management.
Post subject: Re: Wembley my god there selling it!
Posted: Thu Apr 26, 2018 5:52 pm
knockersbumpMKII
International Chairman
PCollinson1990 wrote:An offer has been made, the FA haven't made any comment. £800m is well below it's value and the land around it. It cost nearly £800m to build, a world famous stadium doesn't depreciate.
Unless of course I've not read something you have.
I've read some more articles, the offer is £500m, England playing on the road and at Wembley. The FA keeping the Club Wembley side of things and Jacksonville playing "home" games there. Shad Khan seems to be the only person talking it up. Jacksonville are hardly a glamour team in NFL.
You don't understand how things work, sorry but that's the reality.
You wouldn't get the original cost of the KCOM selling it now, not even close so why would you think something with an even bigger financial liability would too? "World famous stadium", oh come on, it's nowhere near as iconic as the old wembley was, and as for not depreciating, sorry but on what basis are you making that guess?
A quick look at the financial reports will tell you that it isn't the massive profit making venture people think it is. The first accounts I came across where from 2013, WNSL had an operating profit of £8M (Down £5M on the previous year) but a net loss and depreciation is very much a huge cost, this was from a turnover of less than £90M. There's an ongoing 10 year roof repair in progress that is costing a bomb already and it's only just had its 10th year! http://www.wembleystadium.com/~/media/p ... ul-13.ashx "Tangible fixed assets have reduced from £645.2m at December 2012 to £635.0m at July 2013, with the majority of this reduction due to depreciation of £16.8m." Here's the 2016 report, https://s3-eu-west-1.amazonaws.com/docu ... ldWH1wU%3D
It's a massive ball and chain and for prospective buyers, a huge long term financial investment that has struggled to make returns, we talk about how the club wembley thing has been a shambles at the CC final and yet that has been the focus of the company (which they readily admit) in terms of revenue streams.
PCollinson1990 wrote:An offer has been made, the FA haven't made any comment. £800m is well below it's value and the land around it. It cost nearly £800m to build, a world famous stadium doesn't depreciate.
Unless of course I've not read something you have.
I've read some more articles, the offer is £500m, England playing on the road and at Wembley. The FA keeping the Club Wembley side of things and Jacksonville playing "home" games there. Shad Khan seems to be the only person talking it up. Jacksonville are hardly a glamour team in NFL.
You don't understand how things work, sorry but that's the reality.
You wouldn't get the original cost of the KCOM selling it now, not even close so why would you think something with an even bigger financial liability would too? "World famous stadium", oh come on, it's nowhere near as iconic as the old wembley was, and as for not depreciating, sorry but on what basis are you making that guess?
A quick look at the financial reports will tell you that it isn't the massive profit making venture people think it is. The first accounts I came across where from 2013, WNSL had an operating profit of £8M (Down £5M on the previous year) but a net loss and depreciation is very much a huge cost, this was from a turnover of less than £90M. There's an ongoing 10 year roof repair in progress that is costing a bomb already and it's only just had its 10th year! http://www.wembleystadium.com/~/media/p ... ul-13.ashx "Tangible fixed assets have reduced from £645.2m at December 2012 to £635.0m at July 2013, with the majority of this reduction due to depreciation of £16.8m." Here's the 2016 report, https://s3-eu-west-1.amazonaws.com/docu ... ldWH1wU%3D
It's a massive ball and chain and for prospective buyers, a huge long term financial investment that has struggled to make returns, we talk about how the club wembley thing has been a shambles at the CC final and yet that has been the focus of the company (which they readily admit) in terms of revenue streams.
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