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Liar Meire charged

It looks as if the lying, the incompetence, and sheer spitefulness has finally caught up with Katrien Meire.

Our ex-CEO left a similar role at Sheffield Wednesday in February, and is now back in Belgium as COO at Club Brugge, but her past is catching up with her and yesterday she was charged with misconduct by the EFL alongside Wednesday owner Dejphon Chansiri and CFO John Redgate.

The charges relate to the strange timing around the sale of Hillsborough to Chansiri for a very inflated price of £60m in 2017, yet the funds were included in the following year of account allowing the club to make a profit and noticeably avoid any EFL over-spending rules.

Ironically it was Financial Fair Play that first lured Meire’s old boss Roland Duchatelet to English football, but this rule, now entitled club profitability and sustainability means that Wednesday under the corporate watch of Meire managed to show a very small loss over three years thanks to the owner selling himself the stadium and then picking the year of account the proceeds went into.

Under the EFL rule clubs are only allowed to show a maximum loss of £39m over three years. Without the £60m pocketed from the stadium Wednesday’s losses would have exceeded £65m over a three year period.

The EFL are also interested in how the $60m was derived when compared to values of other stadiums such as Upton Park, which bang in the middle of London was sold for £40m.

Meire has always been out of Her depth, and has large tendencies of sycophancy. Her punishment would mean a ban from football, but of greater importance to Addicks is a potential points deduction for Wednesday. Birmingham were docked 9 points last season for failing EFL’s profitability and sustainability rules.

Owners of Aston Villa, Reading and Derby have all our sold their stadiums to themselves, and leased them back miraculously allowing them to meet EFL debt requirements.

7 Comments Post a comment
  1. LP #

    Just when you thought things couldn’t get any better…….

    December 3, 2019
  2. Shadow Play #

    The EFL are also interested in how the $60m was derived when compared to values of other stadiums such as Upton Park, which bang in the middle of London was sold for £40m.
    ………….

    Amazing that a modern stadium was that cheap…I’m sure that the then Mayor of London got the best possible price for it. Cough, cough. Anyone want to buy a garden bridge? Or a cable car? Or an airport in the Thames estuary?

    December 3, 2019
    • The Padster #

      You might also be interested to see- saw this online when looking for news on FFP, but might also be interested to know that a Faiur Value Report of the London Stadium showed it at £40m…

      Elland Road sold in 2017 for £20m- when owner brought it back, but in his company, not the club.

      Brammall Lane, Training Ground and poissibly Hotel- after Sheff Utd takeover sold for £50m combined- yet Hillsborough worth £60m?? Pride Park £81.1m- pfft!!

      Villa Park at £56.7m, I’m unsure either way on. Probably less eyebrow raising, but questions still to be answered!

      December 4, 2019
      • Shadow Play #

        As per your link the £40m for the London stadium is the leasehold valuation, not the freehold value. Want to take a guess at the freehold valuation? As far as I can tell Sheffield Wednesday’s ground was bought on a freehold basis by Chansiri, so we are discussing two different things. West Ham are paying £2.5m a year in rent and have to ground share with UK athletics and other events.

        December 5, 2019
        • But how much did Gold and Sullivan sell Upton Park for?

          December 5, 2019
  3. The Padster #

    The aforementioned Report/valuation.

    http://www.queenelizabetholympicpark.co.uk/-/media/15034-stadium-island-site-annex-a.ashx?la=en

    December 4, 2019

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