The English Football League has
appointed leading QC’s at
Blackstone Chambers as they step
up their investigation into the stadium
sales of three Championship clubs.Derby, Sheffield Wednesday and
Reading are under scrutiny from the
EFL over the valuations of
their stadiums, with an unscheduled
board meeting held in London on
Wednesday to discuss the situation.It has been alleged by a number of Championship clubs, including
Middlesbrough, that the three clubs
breached profitability and sustainability
rules by selling their stadiums and then
leasing them back.An EFL Spokesman said:
“Further investigation is still required on a
number of issues in respect of the
Profitability and Sustainability (P&S)
submissions of some Championship
Clubs.
The EFL, however, does not
discuss or disclose any of the details
regarding individual P&S cases of its
members.”Derby have defended the £80 million
valuation of their Pride Park home and
insist they were fully compliant with
the rules when they filed their accounts
for the 2017/18 season.
In a statement released last month,Derby said:
“Derby County Football
Club has adhered to the EFL’s Profit and Sustainability Rules with respect to
the sale of its stadium.
The stadium was subject to an
independent professional valuation
before sale, nearly 18 months ago, and
the EFL indicated in writing that the
arrangement was in accordance with its
rules and regulations.
“The EFL cannot now, long after
approving the arrangements, suggest
Derby County breached the rules.”
Sgwffield Wednesday and Reading have always
defended their positions.
Yet the EFL are understood to be
closely examining the valuations and
have enlisted QC’s from Blackstone
Chambers – the central London firm
who advised government on Brexit in
the Supreme Court – to assist their
independent investigation.Last season Middlesbrough owner
Steve Gibson announced his intention
to sue Derby, days before the
Championship play-off final for what
he believes were clear breaches of
rules.Boro have since threatened the EFL
with legal action and a messy legal
battle appears increasingly likely later
this year.
Young-po Reporters 