Thomas Horton from Football Law has been discussing Sheffield Wednesday’s sale of Hillsborough Stadium.
In late July, it was announced that the Owls had been handed a 12-point deduction for the 2020/21 Championship season after breaking spending rules (per BBC).
As stated in the BBC’s report, the Yorkshire club breached the rules by including the sale of Hillsborough in their 2017/18 accounts despite the fact the ground was sold a year later.
So, in the latest episode of The Price of Football podcast, Horton made an appearance and discussed the sale of Hillsborough.
He said: “So, in respect of the valuation of the stadium, there was no criticism of, firstly, using this method of selling a stadium to generate revenue or profit for a club.
“This is an accepted practice and that’s something that was noted a couple of times through both written reasons.
“In respect of the valuation of Hillsborough, there was no criticism of that at all as well.
“So, I’d be surprised if there’s going to be anything further in respect of that actual specific transaction – it, firstly, taking place and also the value of it as well.”
TIF Thoughts…
As can be seen in what Horton had to say, he would be “surprised” if there were any repercussions over how much the Owls sold Hillsborough for in an attempt to avoid breaking spending rules.
Was it a mistake for Sheffield Wednesday to sell Hillsborough in an attempt to avoid breaking spending rules?
No, it was a good idea
Yes, we shouldn't have
Sheffield Wednesday sold Hillsborough to their owner, Dejphon Chansiri, for around £60m in an attempt to avoid breaking spending rules – something which has also been done by Derby County and Aston Villa (per BBC).