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Sheffield Wednesday Fan
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About mkowl

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    Milton Keynes or thereabouts
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  1. I can empathise having been a medium distance fan (260 mile 4 hour round trip) for the last 21 years now. That started as a single bloke, progressed to marriage, then 2 kids and running a business. It has been a juggling act at times but I have always had the benefit of the long suffering Mrs MK who not only tolerated me sodding off for hours but me then moaning about how rubbish we were on my return. If you are doing this solo with a young kid using public transport then yep even I would think twice
  2. Wednesday in debt

    I wouldn't say knickers twisting more intrigue. If this counts as expenditure outside of FFP why would you take a finance option if we are generally told it's the FFP limitations that stop funds going in. No one pays interest voluntarily, no one takes charges against assets unless there is no option. It may mean nothing - hopefully - it could be a first step towards a more general leveraging against assets - and that would be concerning. I Don't apologise given our history of getting a tad nervous at the first sign of security being lodged against assets however minor this currently is
  3. Wednesday in debt

    Good stuff thanks for your insight. Not seen that type of arrangement in real life amongst my client base - well not recently anyhow. As I say the reference to the invoices just threw me but I can see how that is the proof needed in this case to identify the very specific assets that are being financed I do see it as evidence that there isn't a bottomless pot of money though and that perhaps since has come on board more normal business arrangements are being instigated
  4. Wednesday in debt

    Not correct in that it is specifically charged against the assets detailed in the schedule that are located at the training ground NOT a full charge over the training ground the letter would be going back to the Coop days
  5. Wednesday in debt

    the fact is Wednesday are in debt to a 3rd party
  6. Wednesday in debt

    Or just debating a point in the public domain because its a forum about Sheffield Wednesday
  7. Wednesday in debt

    Good analysis - the reference to invoices threw me a little because I have not seen that in practice but what you are saying there makes a lot of sense I also thought the work had been done a while back but perhaps this document can only be signed off on completion ? Agree it makes sense to spread the cost but in terms of FFP I thought costs like these were excluded
  8. Wednesday in debt

    Why 1) the club has accumulated losses of some ridiculous amount 2) It makes a ridiculous loss each year 3) why pay a £1 of interest to get tax relief on it. Terrible business sense to spend £1 to get 40p back - you are still 60p down 4) It is a company and would only get 19% tax relief in the very very unlikely situation that SWFC Limited would ever pay corporation tax
  9. Wednesday in debt

    Wouldn't say zero because we are using assets to raise finance If that finance is being used to fund more development around the stadium or training ground - no issue If it is to raise finance to cover day to day costs then its not the best news ever -
  10. Wednesday in debt

    Our own not her own
  11. Wednesday in debt

    More likely looking at ways to raise cash flow - So yes within her remit - might as well use someone else's money not her own and pay back gradually Nothing to do with FFP as this expenditure doesn't count for that purpose. Even if it did raising a mortgage against it doesn't change the nature of the expenditure The money received from the mortgage is not turnover either
  12. Wednesday in debt

    The company has millions of tax losses and makes a whopping loss each year - not sure it needs any more tax deductible items
  13. Wednesday in debt

    Final pages of the PDF referred to on the link show it is to do with training ground My interpretation is that we have not paid several invoices due to the building and construction suppliers It then looks like Close Financing have acquired the debt and then secured it - I would say that is my interpretation not fact. Close are one of the key financing people out there
  14. Wednesday in debt

    Link to actual doc
  15. Wednesday in debt

    Sorry if posted elsewhere - can't see it And in the absence of a Boardroom section these days Seems to be related to the training ground and monies owed