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SWFC Colesy

Sheffield Wednesday Fan
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Everything posted by SWFC Colesy

  1. 100% this It isn't that he doesn't have the cash, or want to spend it for that matter. It is purely down to P&S, which is not the same as going bust. It does however lead to sanctions, fines and big point deductions. But, as we have already seen, throwing cash at it doesn't guarantee anything either! It's like any investment, it's amount spending cash on assets (players) that improve the operations of the club, and in the case of football clubs, within the restrictions that are set. Investment in youth is the long game. Buying proven aging players is the short game. A combination of both is the obvious/sensible suggestion. Personally I think he should be allowed to spend his own money as he see's fit. The EFL need to bridge the gap between the championship and premier league to encourage better spending all round, otherwise nothing will change. Either up the allowable losses for the championship or reduce the allowable losses for the premier league. Until that happens I guess we have to trust in Chansiri, unless you have a few million spare to buy the club and have a go yourself
  2. Section 22 - Events after the reporting date confirms confirms the share issue of 21m shares to Chansiri on 1st September 2018. It also confirms that the club is now a wholely owned subsidiary of Sheffield Wednesday Holdings Ltd that is registered in Hong Kong as of 14th June 2019. Probably who the ground has been sold to??? Section 23 - Related Party Transactions confirms that £62m was received from related parties, which is probably from elev8 for sponsorship and the SWFC Holding Ltd for sale of the ground. Section 24 - Ultimate Controlling Party confirms that there is no change to the ultimate controlling party despite the fact that it is now wholely owned by SWFC Holdings Ltd. Therefore Chansiri must own 100% of there shares in SWFC Holding Ltd. So assuming he has sold the ground to SWFC Holding Ltd, he has essentially sold the ground to himself. If he was to sell up at any point, he can decide to either sell SWFC Holding Ltd which includes the ground and presumably the club, or he could just sell the club, for a lower amount (as the ground would no longer be included) and continue to get income from leasing the ground to the club. All of the above is just a sticking plaster as a few have already suggested. We need to either become compliant with P&S, or go for it and hope we get promoted. There's no longer a sizeable asset big enough on our books to do something like this again. Personally I'm surprise P&S have not already made changes to say that the sale of the ground is not allowable in their calculation of allowable losses!
  3. Just for clarity for those who are thinking "if the ground was worth £60m and it was on our books at £22m, why didn't we just have the ground revalued to create the same profit???" Unfortunately this would have been present on the balance sheet as a revaluation reserve rather than a gain in our P&L, hence the sale to a related party.
  4. Any chance you can add me for predictions dude? kevincoles87@hotmail.co.uk. Give me something to do while im at work............errmmm i mean bored :)

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