Hxj

The problem is that the Championship doesn't work like Premiership Rugby.  Top flight rugby in England consists of somewhere between 8 and 14 clubs (depending on your definition), with no exchange upwards and little exchange downwards, effectively you have a closed shop.  The salary cap works best in such circumstances, see the NFL and NHL in the USA.

The whole point of the Championship is to be promoted into the Premier League, the land of riches, and so at any cost that you can afford.  Of the 24 Championship teams 6 will be different next year.  There is not the same commonality of interest.  Look at the deafening silence in support when owners try to stand up fir what us undoubtedly right.

4 hours ago, Davefevs said:

 

 

It won't work as it is full of holes.

Nothing to stop Saracen style arrangements with loans or housing.

You could pay the squad £1 million each if they win a single FA Cup or League Cup match a year and that is outside the cap, ok the players are taking a gamble but probably worth it.

Or you could set up a nice little partnership or company to extract some of the income as non-salary income, or maybe you could even get them a marketing role in a local company for 50k a month.

And that is without any real thought.

There is one point that I think has been missed regarding the charge.  In order to be valid the charge has to be registered at Companies House within 21 days of being created otherwise it is of no effect.  So I would bet a lot that the transaction with Rams Investment Limited took place in October or November 2019.  

The accounts for GN202 PP show an amount owed to a group company.  That can only be GN204 PPHC.  The Group in this instance includes only these two companies.  I suspect that Pride Park was transferred to GN204 PPHC and then dropped into the subsidiary GN202 PP.   That would create the accounting transactions resulting in the balance sheet values.  There is nothing unusual or dodgy in the second transaction.

I am sure that Conway has added 2 and 2 and got something odd.

The facts from Companies House show that a company, that Gabay has ‘significant influence’ over has a charge over the assets of the company that owns Pride Park and that company’s holding company.

The charge was registered in November 2019, so any funds lent would have been around that date.

There is no mention of the amount involved.  That may come out when the 2020 accounts are published.

I have a conspiracy theory, particularly given the dates.

Derby knew they had a valuation issue.  So they found a willing lender to lend say £40 million at an absolute maximum loan to value of 50%.  Immediately Derby have an independent valuation.  So neat.  A ‘Willing Lender’ in this sense means ‘How big is my fee?’

7 hours ago, Mr Popodopolous said:

Talking of Derby, still no sign of their accounts.

Not for the club, not for Club DCFC Limited, not for Stadia DCFC Limited, not for Derby County Academy, not for the holding company of the last 3- Sevco 5112- and the ultimate one, Gellaw Newco 203 Limited.

The charge over Pride Park might be of interest though- not least as Henry Gabay, the ultimate owner of Rams Investment Limited aka the lender, has been arrested and could face 15 years in the nick in Germany if guilty!?

Also worth noting that though similarly named, Gellaw Newco 202 Limitred and Gellaw Newco 204 Limited are not directly part of the group- though all ultimately owned by Mel Morris.

 

Talking of Derby, it is amazing how skilled they are at arranging funding from honest sources.

The company has been funded after the end of the accounting period by Rams Investment Limited, a company where a certain Swiss gentleman Mr Henry Gabay is the beneficial owner.

This also popped up this week: https://www.bloomberg.com/news/articles/2020-07-02/duet-ceo-gabay-appears-in-french-court-in-cum-ex-related-case.  Looks like the Germans want to lock him up!

 ... is it normal for lawyers  from same ultimate organisation or two different ones to be involved with both sides

For barristers, yes, common.  They have a different operational set up to other lawyers.