McCabe interview in The Times (says he'll sue Sheffield United)

[Worksop II]

I believe the hotel is valued in the last accounts at £16m

That may be so, but it appears it is losing £750K a year, 15K a week

It seems a bit far fetched to me that someone is expected to pay £16m for something that costs another £0.75m a year to run

I think Kev is gonna get fuckall for his Hotel

 

[Bladesman]

That may be so, but it appears it is losing £750K a year, 15K a week

It seems a bit far fetched to me that someone is expected to pay £16m for something that costs another £0.75m a year to run

I think Kev is gonna get fuckall for his Hotel

If only it was located in Mayfair or Park Lane!

 

[Keen Blade]

That may be so, but it appears it is losing £750K a year, 15K a week

It seems a bit far fetched to me that someone is expected to pay £16m for something that costs another £0.75m a year to run

I think Kev is gonna get fuckall for his Hotel

I didn't say that , it was Sean - but my phone-techno-crash may have made it appear that I said it !
I've no idea what the McCabe properties are worth , but in my experience the price one might expect for selling an asset is not necessarily the price at which it was last valued in one's accounts.
All sorts of factors come into the "fair market value" of a property asset.

 

[Sean Thornton]

I didn't say that , it was Sean - but my phone-techno-crash may have made it appear that I said it !
I've no idea what the McCabe properties are worth , but in my experience the price one might expect for selling an asset is not necessarily the price at which it was last valued in one's accounts.
All sorts of factors come into the "fair market value" of a property asset.

The hotel is subject annually to an independent valuation by Lambert Smith Hampton. The 2018 accounts released this month now value at it at £14m.

 

[Sean Thornton]

That may be so, but it appears it is losing £750K a year, 15K a week

It seems a bit far fetched to me that someone is expected to pay £16m for something that costs another £0.75m a year to run

I think Kev is gonna get fuckall for his Hotel

HRH paid £10m for something costing a fair bit more than another £750k pa.

 

[BushBlade]

Unless you’re going to the match it’s the hotel of last resort. Why would anyone stay there when there are loads much closer to the centre and the train station?

 

[Keen Blade]

The hotel is subject annually to an independent valuation by Lambert Smith Hampton. The 2018 accounts released this month now value at it at £14m.

That's interesting - so it's falling in value , 16m down to 14m.
I think it must be a jolly hard job to value a hotel and an even harder one to value a football ground etc.
I mean , who's in the market for a football ground ?
What I'm trying to say is that the 2 men should come to some agreement on the price for the properties , failing which a third party will impose one.
But that price can't be based solely on book-value and there is little to be gained by us speculating.
I simply hope that Kevin will abandon his appeal re the ownership and be comforted by the many millions he is likely to receive for the properties.
Whilst ever Kevin is disputing the ownership , it is likely to be "harmful" to the Club because it is more likely that the funds for the purchase of the properties will come out of the Club itself or a bank loan taken by the Club.
On the other hand , if Kevin stopped disputing ownership , it might open the way for sources of finance other than the Club itself , because potential investors/sponsors or even the Prince himself , would be clear in the knowledge that the owner is the Prince and not subject to the threat of an appeal.

 

[BushBlade]

That's interesting - so it's falling in value , 16m down to 14m.
I think it must be a jolly hard job to value a hotel and an even harder one to value a football ground etc.
I mean , who's in the market for a football ground ?
What I'm trying to say is that the 2 men should come to some agreement on the price for the properties , failing which a third party will impose one.
But that price can't be based solely on book-value and there is little to be gained by us speculating.
I simply hope that Kevin will abandon his appeal re the ownership and be comforted by the many millions he is likely to receive for the properties.
Whilst ever Kevin is disputing the ownership , it is likely to be "harmful" to the Club because it is more likely that the funds for the purchase of the properties will come out of the Club itself or a bank loan taken by the Club.
On the other hand , if Kevin stopped disputing ownership , it might open the way for sources of finance other than the Club itself , because potential investors/sponsors or even the Prince himself , would be clear in the knowledge that the owner is the Prince and not subject to the threat of an appeal.

I think valuing a hotel is a relatively straightforward exercise for a suitably qualified surveyor. Football grounds are much more complex.
But you say it can’t be valued solely on book value. In the circumstances, I’m not sure how it could be valued in any other way. It’s not a situation whereby you’re calculating damages caused by a past event and you can apply Wrotham Park type multipliers. The court is simply upholding the deal the two parties agreed to.

 

[Keen Blade]

I think valuing a hotel is a relatively straightforward exercise for a suitably qualified surveyor. Football grounds are much more complex.
But you say it can’t be valued solely on book value. In the circumstances, I’m not sure how it could be valued in any other way. It’s not a situation whereby you’re calculating damages caused by a past event and you can apply Wrotham Park type multipliers. The court is simply upholding the deal the two parties agreed to.

Who plays at Wrotham Park ?

 

[BushBlade]

Who plays at Wrotham Park ?

Wrotham Park Estate Co Ltd v Parkside Homes Ltd - Wikipedia

en.m.wikipedia.org

 

[Keen Blade]

Oh , right , I thought it might be the home of Barnet Women's FC ...
(I was joking btw)

 

[CaptainMorgans]

He's at it again in The Athletic

 

[Bladesman]

He's at it again in The Athletic

Kevin McCabe exclusive: ‘This club is an institution. I just hope foreign owners can grasp that.’

McCabe always thought the United side of the early 1970s was the best he had ever seen - unitl he watched Chris Wilder's team...

theathletic.com