Timeline of facts
*courtesy of Ghost of Clough on dcfcfans
2012 - FFP Rules (monitored over 1 season) implemented
24/05/14 - Derby lose to FFP cheats QPR in the Playoff Final
November 2014 – P&S rules (monitored over 3 seasons) voted in to replace FFP rules for the 16/17 season onwards.
Summer 2015 – Derby change amortisation policy for the 15/16 season (after discussing the change with the auditors)
07/04/17 – 15/16 accounts are submitted to Companies House
06/04/18 – 16/17 accounts are submitted to Companies House
Spring 2018 –2016-18 P&S information submitted to EFL (within limits)
12/04/18 – Revised 2016-18 P&S information submitted to EFL due to differences between FFP and P&S calculations (£5m over the limit)
04/05/18 – DCFC placed under embargo
May 2018 – Stadium valued at £81.1m (profits basis) and £74.4m (DRC basis) by JLL
June 2018 – Discussions with EFL to agree on stadium sale and how much to be included in the accounts
28/06/18 – Stadium sold for £81m. Revised 2016-18 P&S information submitted to EFL (within limits)
03/07/18 – Embargo lifted
04/07/18 – EFL confirmation that DCFC met their P&S requirements for the 3 year period to 2018
15/02/19 – EFL Executive confirmation that £81.1m was fair value for the stadium
06/03/19 – placed under embargo for late submission of P&S statements
29/03/19 – 2019 P&S statements submitted to EFL (within limits) and embargo lifted. New embargo placed on club due to being close to the limit
05/04/19 – 17/18 accounts are submitted to Companies House
April 2019 - MFC queried, “in forceful terms”, the legitimacy of such a sale and leaseback arrangement
15/04/19 – EFL query why amortization fluctuates so much between seasons.
13/05/19 – Meeting between DCFC and EFL to discuss amortization, EFL stated “it is an acceptable accounting policy” with the EFL stating large future impairments are a risk for the club to take on
24/05/19 – MFC submitted a claim against Derby, stating we cheated P&S by selling the stadium for too much and it wasn’t arms length.
09/07/19 – MFC claim PPS should have been sold at a fair value of £22.8m
11/07/19 – Embargo lifted
30/07/19 – MFC officially threatened the EFL and DCFC with proceedings unless the EFL initiated disciplinary action against DCFC
06/09/19 – MFC servered notice of arbitration to get profits from stadium sales excluded from P&S calculations (including those in the past)
02/12/19 – EFL hired expert valued stadium at £42-50m. Expert had not visited the stadium but deemed the facilities to be “bog standard” and drew comparisons to Morecombe’s 6476 stadium with 3 terraced stands.
16/01/20 – Derby charged with selling the stadium above it’s true value and for using improper amortization policy, resulting in exceeding P&S limits in the 3 years to 2018
Early 2020 – Derby placed under embargo
25/08/20 – DCFC cleared of overvaluing the stadium, found guilty for 1 of 5 particulars relating to the amortisation policy (not worded it adequately in the accounts), but insisted the policy was compliant with FRS102. Disciplinary panel consisted of accountants
07/09/20 – EFL appealed against the Discipolinary panel decision
07/09/20 – Boro started an arbitration against Derby and the EFL, in particular regarding the stadium valuation which allowed us to sign Waghorn
22/10/20 – Boro’s application rejected
30/11/20 – De novo hearing held and dismissed (EFL wanting draft 18/19 accounts submitted after Disciplinary panel decision to be considered)
15/12/20 – EFL application for new evidence to be considered (18/19 draft accounts), dismissed 22/01/21
July 2021 – LAP decision resulting in a restatement of 15/16 accounts onwards with a compliant amortization policy and a £100k fine. LAP did not consist of any accountants
22/09/21 – Derby enter administration and -12 point deduction
16/11/21 – Administrators agree 9-point deduction due to EFL’s claim of a P&S overspend, a result of the EFL rejecting our new amortisation policy
2014 - Leicester = £20.8m loss
2015 - QPR = £45.7m loss
2016 - Bournemouth = £38.3m loss
2017 - Newcastle = £90.9m loss
2018 - Wolves = £57m loss
2019 - Norwich = £38m loss
- Villa = £68.9m loss
2020 - Leeds = £62.2m loss
