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SHEFFIELD WEDNESDAY - ACCOUNTS AND FFP THREAD

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6 minutes ago, Hookowl said:

 

No club is in year 1 it's a rolling 3 years.

Pretty sure Wolves have made a profit for the last couple of years, so they've got even more of a free reign than most

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Don't panic. Don't panic.

We didn't get where we are today by having people taking massive gambles.  It's all part of a well thought out long term strategy and planning. 

 

 

 

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da2a8081d4514e2ed14c358bc1aed452--retail

 

 

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Without a massive fire sale and payment  from clubs upfront we're screwed on FFP. But anyone with a maths GCSE of D or above should have known that. Transfer embargo it is then. We should have a squad capable of a decent showing in this league.

 

The debt from the losses is being turned into loans to the club given by DC. So we now owe DC a fuckton of money. Better that then owing the bank though as we did before. See sheff utd for further info on how this works.

 

Fans really need to be nice to DC now because he could call it in and we would be gone. Hopefully he truly never wants the money back. As the main problems that have got us to this point are either his or his advisors decisions then hopefully he can fall on his sword and admit so. That's not something generally done in his culture though. 

 

Seriously though if DC decides he's had enough of wasting his money on this mess then we are screwed. Let's not help him make coming to that decision easier.

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Stop worrying folks, DC Taxis are on way. :Chansiri:

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6 minutes ago, Whitechapel Owl said:

 

Heard that fella is the owner of that company, and also was the compare for Burnley home games. 

 

Probably untrue on both accounts. 

 

I'm hoping it is true 

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25 minutes ago, hirstyboywonder said:

 

In summary, yes, only next years accounts are for the period ending in 2 months time........so basically we will have already breached and it will be confirmed when the accounts are finalised, unless we have somehow not managed to lose £9M in the current  financial year, can't see how that's possible though.

 

Further to this, @Birley Owl 1867 raised a good point in another thread that some of our losses will be from money spent on infrastructure and non-FFP applicable spend. Not sure how much of a significant difference this will make but it will bring our FFP-applicable amount lost over the past 2 seasons and this current season down somewhat.

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Just now, Lord Snooty said:

 

I'm hoping it is true 

 

The second part is true it turns out, although he was an employee of Safestyle rather than the owner. He was convicted of tax evasion fraud in 2016.

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Posted (edited)
1 hour ago, Animis said:

It will be interesting how the club explain/spin this particularly for next season's campaign - the options seem to be clear (fire sale or shat or bust) as FFP is a measurable reality.

 

We've had some pretty rubbish seasons over my time watching the club, but this one, due to the on and off field debacles tops it. The only thing that could get worse is we get relegated on the last day of the season.

 

 

 

The future forum meetings with  DC will be a thing of the past, next meeting will be Kat, and she's got form.

Edited by daleblue

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4 minutes ago, StudentOwl said:

Pretty sure Wolves have made a profit for the last couple of years, so they've got even more of a free reign than most

 

Yep, somehow Wolves were the only Championship club to make a profit in their 2016-16 accounts. 

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31 minutes ago, fred mciver said:

Given this, amazing he turned down £5 million in Summer for Westy as that's direct profit, straight to accounts.

Not as amazing as the reported £2m he turned down for George Hirst and then paying his wages for 6 months whilst refusing to let him train with his peers. I've been constantly abused over this issue by people telling me that DC had played a "blinder". Where are those people?

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3 minutes ago, Whitechapel Owl said:

 

The second part is true it turns out, although he was an employee of Safestyle rather than the owner. He was convicted of tax evasion fraud in 2016.

Always coming down on the little guy. 

 

He'd have been better being a shady football agent , opening the company using 3 people's names, and then them 'stepping down' the day after.

 

Or something. .

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Chansiri has said on numerous occasions he'd like to pump more money in but can't because of FFP. What's all this nonsense about going to the wall? He'll just pay off the fine and it'll be business as usual.

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4 minutes ago, hirstyboywonder said:

 

Further to this, @Birley Owl 1867 raised a good point in another thread that some of our losses will be from money spent on infrastructure and non-FFP applicable spend. Not sure how much of a significant difference this will make but it will bring our FFP-applicable amount lost over the past 2 seasons and this current season down somewhat.

The podcast on here a while back warned about the looming crisis and wondered why Chansiri wasn't spending on non-FFP things like the training ground and the academy. I didn't wonder,

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3 hours ago, @owlstalk said:


Can someone who knows their stuff and isn't some kind of mad nutter with an agenda give us a basic breakdown of what is in these?

Think you're going out to the wrong audience here!

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1 minute ago, Hitcat said:

Chansiri has said on numerous occasions he'd like to pump more money in but can't because of FFP. What's all this nonsense about going to the wall? He'll just pay off the fine and it'll be business as usual.

What a lovely new training ground he has invested in.

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42 minutes ago, KivoOwl said:

Who on earth is going to get us out of the mess Chansiri has got us in?

 

We're fizzed. 

You tried to warn them brother. They were too stupid to listen.

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35 minutes ago, fred mciver said:

Yes, and don't have to be a loss - just a projected one (forecast goes to authorities today).

 

30 minutes ago, steelowl said:

 

well the projection will be a work of art to avoid sanction 

 

i can only see a couple of years of austerity and 2 survival battles to come 

 

It's certainly an interesting development this.

Our official accounts show we have lost around £30M over 2 years. Even being optimistic in accounting for how much of our spend over this period wasn't applicable to FFP you would still think our applicable losses would be £20-25M.

Given what our previous accounts have shown, I would think we would be borderline in terms of being able to project enough to be in bounds on this. 

 

That's what the club have been saying though, next year will be the tipping point.

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1 minute ago, Hitcat said:

Chansiri has said on numerous occasions he'd like to pump more money in but can't because of FFP. What's all this nonsense about going to the wall? He'll just pay off the fine and it'll be business as usual.

 

An embargo and only owing DC money wouldn't be end of world, get all injured players fully fit, get rid of those that's past sell by date and out of contract and then add some of our talented U23s like Clare and Hirst to squad and we can still go places.

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Posted (edited)
58 minutes ago, alanharper said:

 

 

"Our gate receipts only increased £500k despite huge increases in matchday pricing and attendances - does the club think this is because the differential in season ticket/matchday income is too wide?"

 

The previous season included the additional receipts from a Wembley play off final - half the receipts are paid into the pool to be shared between all the teams, which we'll have benefited from again last year, and the other half shared directly between the two finalists. In previous years there's been an agreement that the losing team got all of this but I didn't hear about this happening in 2016, probably not with Hull's bent moneygrabbing owner.

 

So the increase of "only" £500k was actually better than it appears because we didn't have the Wembley receipts last year which were included in the previous year's figures.

Your gate receipts probably haven't increased at all, so he's wrong there.

 

Don't forget your accounts publish it as Match receipts and associated turnover. So that £16.8m is not gate receipts alone, it will include Sky games broadcasting income, central distributions and PL solidarity payments. The last two increased last season to £6.6m from £4.3m the season before. So that £500k increase he mentions, includes a £2.3m increase in non match day income. Match day income is probably down £1.5m, which as you say would be a Wembley appearance.

Edited by just visiting

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