What is a fair price for Port Vale FC?

[Vale]

I'd be interested to hear what you believe a fair price would be to buy Port Vale FC along with Vale Park if it were to go in to administration and then be boughtout of admin, approx 13 acres with planning permission for recreational use at the moment I believe.

 

Last time didn't it go for £1.15 Million

 

I'll go for the same again £1,150,000 and I clearly have no idea this time as its not even in admin (as I didn't for the HRMC sweep :rolleyes: )

 

What's your guess?

[Robbie Earle's Perm]

Last time it was £1.225 million.

 

I certainly doubt it will be more than £1.5 million so will go for the same again.

[Jinkin John Jeffers]

1 pence piece

[Jimmy]

I'd be interested to hear what you believe a fair price would be to buy Port Vale FC along with Vale Park if it were to go in to administration and then be boughtout of admin, approx 13 acres with planning permission for recreational use at the moment I believe.

 

Last time didn't it go for £1.15 Million

 

I'll go for the same again £1,150,000 and I clearly have no idea this time as its not even in admin (as I didn't for the HRMC sweep :rolleyes: )

 

What's your guess?

 

 

Not playing as you know already cos you won the the sweep with inside info GB.......

[George]

£0.01 and take on all the debt.

[tisdeano]

the mortgage on the ground this time make it some what different

[cheeky]

I'd offer £0.01. The business is insolvent. The less spent on "buying" the club, the more that can be spent getting it back on an even keel.

[Ian der Laan]

£1..........

[Andyregs]

But don't all the debt and mortgages disappear after admin. The whole point of paying the administrators is that it is shared between the creditors. Wouldn't they struggle to share 1p.

[vale in the blood]

id like to thing vale should be sold for very minimal amount...say £1.and they can use extra cash to sort debts out with abit more flexibility. but trying to answer yr question...id say £1m tops.we got council loan attached.and prices have fallen.

[tisdeano]

But don't all the debt and mortgages disappear after admin. The whole point of paying the administrators is that it is shared between the creditors. Wouldn't they struggle to share 1p.

 

no, the council have first grab on the land, admin or not, just like your home, if you go bankrupt and have a mortgage they take your house back

[tisdeano]

Id say the actual value of the land is around 2.6 million in todays market.

 

Council would get first 1.8m, Gibralatar the next 277k, so right away there may be an asset left of some 400k [ may be more ]

[matt f]

the mortgage on the ground this time make it some what different

 

there was a mortgage last time

 

"Mortgages secured on the ground totalling £690,000"

 

source: http://www.thisisstaffordshire.co.uk/Port-Vale-Vale-owed-200-creditors-pound-2-4m-time/story-15375725-detail/story.html

[Warren]

The question is complicated and I can't answer it and certainly not without complete information about liabilities / creditors. An administrator needs to find a buyer who will take over responsibility for paying the creditors. So lets assume Port Vale owes £4 million. Then we have the issue of what the fixed assets are worth. Under FRS 15, the business is not a going concern presently and therefore it may be that the open market value is the correct one. If not the value will be as currently valued under FRS 15 which is a mix of general assets, specialsed assets and surplus assets all valued on different bases. Then we have to look at the potential future income stream of the club and how that can be valued.

 

Of course an administrator is also hoping their is multiple interest so a competition takes place.

 

All to play for in other words.

[tisdeano]

there was a mortgage last time

 

"Mortgages secured on the ground totalling £690,000"

 

source: http://www.thisisstaffordshire.co.uk/Port-Vale-Vale-owed-200-creditors-pound-2-4m-time/story-15375725-detail/story.html

 

ok, so the difference is an extra 1.3 million, a massive amount