3543304310

8

ZARZĄDZANIE I EDUKACJA nr 87/2013 - marzec - kwiecień

In the phase of realization of the investment in a sports facility negotiations with institutions which finance the construction, contractors for construction works and suppliers of fitting for the facility are entered into. Valuation of a sports facility is used first of all in the process of securing investment loans. A bank which finances construction of a facility prefers valuation of the market value of the object securing the loan. In the situation of a high risk valuation of the market value based on the assumption of forced sale is preferred.

In the exploitation phase of facility management valuation of a sports fixed property is used for two main aims: the tax-related one and the financial one. The tax-related aim of valuation of sports fixed properties consists in their valuation for needs of calculation of the fixed property tax. The financial aim of valuation of sports fixed properties is connected with a mortgage securing investment bank loans for reproduction, development, modernization or chang-ing functions of a sports facility, or for securing of working Capital loans for day-to-day activity of the owner of a sports facility.

The phase of sale of a sports facility (including contribution in-kind of a sports facility into a company) reąuires determining of its selling value. The discussed value is established as the market value of a sports facility or on the basis of known transaction prices of a purchase and sale of similar facilities, or on the basis of a projec-tion of incomes which are possible to be obtained from the facility. In the situation when there are no transaction prices of similar facilities on the market or the facility cannot generate income, it is possible to evaluate the replacement value using the cost approach.

In the phase of liąuidation of a sports facility what is determined is its market value conceived as a difference between the market val-ue of the land and cost of demolition of the buildings. The market value of a sports facility which is calculated in such a way should be increased with possible income from sale of post-demolition ma-terials.

The specificity of valuation of sports fixed properties consists in the fact that - because of rarity of transactions of a purchase and sale of such fixed properties, and of the fact that a considerable part