Derby County Football Club acknowledges receipt of an EFL notice of charges in respect of the Club’s valuation associated with the sale of Pride Park stadium in June 2018, and further in respect of the Club’s amortisation policy associated with intangible fixed assets (players).The club will strongly contest the challenge to the valuation of Pride Park stadium, as well as the newly notified charge in respect of intangible fixed asset amortisation.
As a matter of law, the EFL is not entitled to bring either of the charges, having previously agreed to all of the arrangements surrounding the stadium sale and never having raised the issue of player amortisation before. The Club shall argue that the very bringing of the Charges itself is unlawful.
At all times, the Club has acted transparently with the EFL in its submissions for both FFP/P&S and, in respect of the charges above, had received written approval for all of its submissions in respect of this legislation. No allegation has been raised to the contrary by the EFL. Rather, the EFL now claims that it made a “mistake."
The Stadium was valued by professional valuers immediately prior to the transaction. The transaction and valuation were discussed extensively with the EFL Executive, which asked for a relatively modest price adjustment which was accepted. The valuation report was prepared by a highly reputable and professional and independent firm, with industry experience, who had valued the stadium on two prior occasions, one in 2007, and one in 2013.
The Club discussed the rationale for the stadium sale with the EFL Executive, ahead of the transaction, supplied and discussed the valuation, and bar a small adjustment in respect of its FFP/P&S submissions, the Club was given written approval.
With regard to the Club’s player amortisation policy, this has been a long-term accounting policy and was again reported transparently to the EFL Executive as part of the Club’s submissions and these were again approved and signed off in writing.
While the Clubaccepts the EFL’s FFP/P&S regulations are complex and open to interpretation, it is critical when such matters have been discussed and reviewed in detail, that written approval from the EFL is the only basis on which a Club can be assured it has complied. These charges by the EFL Executive bring this fundamental aspect of governance into question. The EFL now claims it made a mistake and seeks to punish the Club that relied on the EFL’s approval. Such conduct is neither lawful nor fair.
Had the EFL not given the green light in writing in respect of both charges, the Club would have reacted accordingly. The Club cannot re-trace the steps of the actions it legitimately took in good faith as a result of EFL approval of both matters.
The EFL can choose to correct what they now see as an error in their decisions. However, it cannot punish the Club for its own errors. The Club shall therefore vigorously contest the charges and the EFL’s legal right to bring them. The Club and all staff will be making no further comment on these matters.
So the EFL agreed everything before hand and after it's done come back and say they made a mistake so they will have to punish us. Somehow I think they have as many legs to stand on as Oscar Pistorius. Will Leeds and Forest fans now go and shove their self righteousness where the sun don't shine.
Club statement
posted on 21/1/20
I would imagine you would drink Red Bull Strett. A company run by a family who hide their policeman killing son. After all you love your owner the drug smuggling, match fixing, gangster. Surely the EFL would be better off trying to rid football of criminals like this than going after a club which has actually done nothing wrong, and with the permission of the EFL.
posted on 21/1/20
comment by Spart-Derby really are the best says red dog. (U4603)
posted 4 minutes ago
I would imagine you would drink Red Bull Strett. A company run by a family who hide their policeman killing son. After all you love your owner the drug smuggling, match fixing, gangster. Surely the EFL would be better off trying to rid football of criminals like this than going after a club which has actually done nothing wrong, and with the permission of the EFL.
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I nearly choked on my caffine-free drink then!!
posted on 21/1/20
https://www.bbc.co.uk/sport/football/43319004
Dodgy as fook, but you got away with it.
Your owner put his money in to write off debts that the Reds couldn't pay.
You can only put in what you can generate within the clubs revenue but you lot exploited a loophole.
Go figure.
posted on 21/1/20
comment by Strett (U1462)
posted 1 hour, 3 minutes ago
comment by Spart-Derby really are the best says red dog. (U4603)
posted 4 minutes ago
I would imagine you would drink Red Bull Strett. A company run by a family who hide their policeman killing son. After all you love your owner the drug smuggling, match fixing, gangster. Surely the EFL would be better off trying to rid football of criminals like this than going after a club which has actually done nothing wrong, and with the permission of the EFL.
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I nearly choked on my caffine-free drink then!!
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Only nearly, damn!!!!
posted on 21/1/20
comment by Rameses, Kom op jij Rams (U7190)
posted 1 hour ago
https://www.bbc.co.uk/sport/football/43319004
Dodgy as fook, but you got away with it.
Your owner put his money in to write off debts that the Reds couldn't pay.
You can only put in what you can generate within the clubs revenue but you lot exploited a loophole.
Go figure.
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Fantastic bit of work there, allowed us to buy João Carvalho for £13m. All the team in Nottingham that were involved, should be praised ; hopefully we can sell him to Olympiakos for £15, nice tidy profit made.
Having good owners is worth its weight in gold, Rameses
posted on 21/1/20
I have to confess a sneaking bit of admiration for anyone who could have sold Oliver Burke for more than the price of used toilet paper, never mind £14M.
posted on 21/1/20
comment by Spart-Derby really are the best says red dog. (U4603)
posted 5 minutes ago
I have to confess a sneaking bit of admiration for anyone who could have sold Oliver Burke for more than the price of used toilet paper, never mind £14M.
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Indeed, the same for Norwich selling Bradley Johnson for £6m
Although it was Forest's Mel Morris (Fawaz) who did the Burke deal, Spart.
posted on 21/1/20
It was, amazing.
If Maranakis can make Forest turn a profit every year he can use the club to launder his drug money which was possibly his plan all along.
posted on 12/5/21
How it started...
"So the EFL agreed everything before hand and after it's done come back and say they made a mistake so they will have to punish us. Somehow I think they have as many legs to stand on as Oscar Pistorius. Will Leeds and Forest fans now go and shove their self righteousness where the sun don't shine.
How it's going...
EFL wins part of appeal against Derby County accounting policies...
It had to be Derby. The Derby Way. We got this.
https://www.bbc.co.uk/sport/football/57068040
posted on 23/11/21
comment by Spart-Derby really are the best says red dog. (U4603)
posted on 21/1/20
Keep trying Strett. Now you know there isn't going to be a points deduction you need another straw to grasp at.
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LOL