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SHEFFIELD WEDNESDAY - ACCOUNTS AND FFP THREAD


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1 hour ago, fred mciver said:

Made up by Andy Giddings then , who first asked Jos the question 2 weeks ago.

 

 

 

 

Or rather, this site that prompted Giddings to ask Jos two weeks ago.

Edited by Sonny
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5 minutes ago, handworth52 said:

got it in 1 , ive been banging on about this for ages even when we were 4th in league , what chansiri has done is criminal ,the only way out of this mess is selling 10-15 million worth of players before july 1st 2018 with at least 10 million up front to get us to be 39 million losses for 3 year period , please do that chansiri and then get the hell out of my club and take the leaches what are been paid 40k with you , if anyone understands anything about maths and 39 million losses over 3 years then they will see what a very very serious mess we are in .if we keep same players until july 1st which is impossible not to ,then if losses this season match match the 20 plus million for upto july 1st 2017 we will have lost 50 million from 2015 july 1st until july 1st 2018 which is a clear 11 million over ffp . so any player who we can get a fee for in june up front has to go to get below 39 million , maybe that's why all our players are injured because they have to be sold this summer . we have effectively been a play toy for chansiri`s child with the gift of premier league if we won , now this toy(our club) will be thrown into the box maybe never to be seen again. 

 

Spot on pal. Just be careful you don't upset the mob on here and receive the insults I had hurled on the thread I made the other day. Expect a mass exodus of our better players in the summer.

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2 hours ago, @owlstalk said:



That to me shows two main things

1) How important the club advisors are when recruiting players (hopefully sorted with Katrien being appointed)

2) How crucial a successful attacking positive manager is

 

She sold us Fox, whats not to like, and I mean that in a positive sense,  that's some selling.

Edited by daleblue
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6 minutes ago, steelowl said:

 

I'n no accountant and still awaiting MK's judgement

but are we saying that we can only lose circa 9m next year before a breach ?

 

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.

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I say wait for someone who knows more about accounting etc. to comment... @mkowl always does a decent job with this sort of thing so I'm sure he can offer a wise word or two. 

My gut tells me that selling Reach and Forestieri could fetch us £10m+. After paying off their contracts etc... wouldn't that add about (about in the very loosest of terms) £8m to this year's financial accounts? That would enable us to make nearly the same loss as in the accounts just published and I think we'd only just be in breach of FFP. So realistically it's not quite doomsday. We just need to sell the right players and then be far far wiser with our budget for future transfers and contracts

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48 minutes ago, just visiting said:

and, more importantly, have the full backing of PL and all its financial muscle.

 

What does that even mean in this context? We’ve got some rules and the PL support them... and the PL is rich... so.........?

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As others have said, the positive side here is - on paper - the treatment of the debt; and - away from the paper - the apparent commitment of the owner to continuing with that policy.  In effect the club is being gifted money.  Which to a large extent what football fans have already had a tendency to ask for - the owner prepared to dip deeply into his own pocket.  

 

This creates for the club an obvious risk  - that the munificence dries up.  Or - and it's simply the opposite side of the coin - we are tied to an owner who we would rather not have.

 

Overall I tend to an optimistic view long term.  The owner has gambled and it hasn't worked - but it wasn't far from working.  For all the talk of a couple of clubs who achieved more with less, there will always be a tendency for the big spenders to do best.  I have more respect for this failed gamble than for the old fools who sat around Hillsborough board tables in the 1960s and 1980s and 1990s squandering positions of advantage over extended time.  Given the way FFP works I wonder if we might see more of this cycle of championship/league one clubs going through competitive phases and then rebuilding.

 

Although not reflected on the pitch I see signs of improved management of the club (from a low base) and it's possible that basics are being gripped in ways that weren't happening before.  If he has the patience to work this through the future needn't be too gloomy; but it is an if.  

 

The issue that we have an old fashioned stadium with high upkeep costs and little capacity to generate non-football revenue remains ungripped.  

 

 

 

 

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1 minute ago, Sonny said:

 

Or rather, this site that promoted Giddings to ask Jos two weeks ago.

Local BBC mate. Frightened of their own shadow / mortgage.

 

Took em 2 years to discuss Doyen after they'd been on here - and Footyleaks - every week.

 

And no wonder Doyen have done one now we are skint.

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Just now, fred mciver said:

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

 

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 

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19 minutes ago, hirstyboywonder said:

 

Nigel states: 

The vast majority of fans will look at that list and think "Thank God we don't have self important idiots attending AGMs and asing questions of our Board any more!!"... I would argue that its incredibly important to hold the people who are running the club to account and ensure that they are protecting an asset held dear to the hearts of so many in our community. As Milan often was heard to say "I am merely the caretaker". 

 

No, instead we have self-important fans who have their own website to air their ramblings. Is he too good to spend too much time on here now, his views would certainly get more debate on here but maybe he just wants pats on the back and agreeing nods from his peers?
 

 

I heard he had to have his front door widened so he could fit his head through.

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2 hours ago, modboy said:

 

hence why we might not be playing certain players?... according to some on here?

Makes no sense out of those injured who would it apply to. i think 4/5 have had operations out of missing 9.

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4 minutes ago, StudentOwl said:

I say wait for someone who knows more about accounting etc. to comment... @mkowl always does a decent job with this sort of thing so I'm sure he can offer a wise word or two. 

My gut tells me that selling Reach and Forestieri could fetch us £10m+. After paying off their contracts etc... wouldn't that add about (about in the very loosest of terms) £8m to this year's financial accounts? That would enable us to make nearly the same loss as in the accounts just published and I think we'd only just be in breach of FFP. So realistically it's not quite doomsday. We just need to sell the right players and then be far far wiser with our budget for future transfers and contracts

 

This years accounts end on 31/05/18 - the transfer window doesn't open until after that so we can't account for those prospective sales this year can we?

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13 minutes ago, handworth52 said:

the only way out of this mess is selling 10-15 million worth of players before july 1st 2018 with at least 10 million up front to get us to be 39 million losses for 3 year period , please do that chansiri and then get the hell out of my club

5 minutes ago, Johnny Concrete said:

 

Spot on pal. Just be careful you don't upset the mob on here and receive the insults I had hurled on the thread I made the other day. Expect a mass exodus of our better players in the summer.

 

So then the debts would be owed to an external party. Can definitely see why that would be better. 

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