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SHEFFIELD WEDNESDAY - ACCOUNTS AND FFP THREAD


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1 minute ago, Wakefield owl said:

 

In danger of getting too technical here. The point I was trying to make is that just because the auditor has signed the accounts off doesn't indicate we will not fail FFP next year.

 

No I was meaning he had to feel justified in what he was signing off for the club to continue trading.

These accounts are not submitted for FFP they will be different ones with losses adjusted in line with what the club can exempt. The only thing is we do not know what exactly can be exempted and by how much the loss will be lessened.

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Just now, Hookowl said:

 

No I was meaning he had to feel justified in what he was signing off for the club to continue trading.

These accounts are not submitted for FFP they will be different ones with losses adjusted in line with what the club can exempt. The only thing is we do not know what exactly can be exempted and by how much the loss will be lessened.

as far as i understand training ground improvements aren't counted have - we done- any?  hopefully they cost a fortune 

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12 minutes ago, Bluesteel said:

What irks me is that we were told we were making financial decisions mindful of FFP. Now that can be interpreted various ways including that we were going to risk breaching it if we didn’t succeed, but to me it meant that we wouldn’t do anything to jeapordise the future ability of the club to challenge. 

 

Yes this is nagging away at me and the only conclusions I can come to are:

1 We are all being deliberately misled (including the football league) or

2 The club haven't a clue what's going on and/or have been very badly advised by its finance team or

3 There is some grand plan we do not yet know about

 

Anyone any other ideas?

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7 minutes ago, Mr Farrell said:

 

As things stand it and from the information available, it appears highly likely.

 

That's the problem we don't have the relevant information for FFP analysis, just the released accounts.

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Just now, Wakefield owl said:

 

Yes this is nagging away at me and the only conclusions I can come to are:

1 We are all being deliberately misled (including the football league) or

2 The club haven't a clue what's going on and/or have been very badly advised by its finance team or

3 There is some grand plan we do not yet know about

 

Anyone any other ideas?

'we have friends' was an answer from the past 

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4 minutes ago, Hookowl said:

 

No I was meaning he had to feel justified in what he was signing off for the club to continue trading.

These accounts are not submitted for FFP they will be different ones with losses adjusted in line with what the club can exempt. The only thing is we do not know what exactly can be exempted and by how much the loss will be lessened.

 

But a club can fail FFP and continue trading as long as it has the appropriate financial backing.

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1 minute ago, theowlsman said:

Thank you for giving it a go Mr C.

 

Now can you get us a decent manager, and get some help from people who know how to run a football club.

 

Ta.

 

This is all we've been asking for 2 years.

 

With the greatest respect Mr Chairman, if you were a referee  we'd have been singing 'you don't know what you are doing ' at you for ages now.

 

We want you to succeed. If you succeed, we succeed.

 

It's not rocket science. If anyone from Doyen is even telling you what colour socks to wear, then get rid. I implore you. If any club employees with any sort of power were put in place by Doyen, then get rid.

 

Clean slate. Start again. The fans will back you. They won't back you spunking more money whilst asking for more from them to spunk though.

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3 minutes ago, Wakefield owl said:

 

Yes this is nagging away at me and the only conclusions I can come to are:

1 We are all being deliberately misled (including the football league) or

2 The club haven't a clue what's going on and/or have been very badly advised by its finance team or

3 There is some grand plan we do not yet know about

 

Anyone any other ideas?

 

Think 2. is the most likely, hence the new ceo

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I kind of thought the accounts would read this they are a million worse than I thought they would be, we lost £10m the season we got to the play off final charging £60 a ticket selling 40,000 of them.

 

So expect a bigger loss with all the big salaries brought in last year. The club have to give expected result of accounts for this year to the fa and we will be breaking FFP.

 

It puts a new slant on the 5 year season ticket and the prices freeze for continuing investment, when we are under the embargo next season we won't be buying any players but us the mugs, sorry I mean fans will be paying for DC continuing mismanagement of our club.

 

We need a clear out close season and if we are able to get a competent businessman in charge of the club as well it would be useful.

 

Milan sold a club that has £10m of debt in 3 and a half years DC will have placed us nearly £50m in debt because he does not have a club about everything from ticket prices, to sponsorship, to merchandise to basic contracts the list goes on.

 

The club will continue to slide further and further into the brown stuff the longer this man stay in charge. Either sell up or get competent football people in to run the club and the playing staff.

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1 hour ago, StudentOwl said:

Based on what? 

Want to believe this, but I still don't, having never really seen any evidence of it. 

Well have you got several million to pump into a football club. Because I haven't. But DC did. And apparently on here, a lot of people thinks he buys 10mill birthday presents? My Dad didn't buy me 10mill birthday presents. Did yours?

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10 minutes ago, Wakefield owl said:

 

Yes this is nagging away at me and the only conclusions I can come to are:

1 We are all being deliberately misled (including the football league) or

2 The club haven't a clue what's going on and/or have been very badly advised by its finance team or

3 There is some grand plan we do not yet know about

 

Anyone any other ideas?

I'm going with the grand plan. 

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3 minutes ago, steelowl said:

as far as i understand training ground improvements aren't counted have - we done- any?  hopefully they cost a fortune 

 

There are various things that don't count training/development, charities etc.

I'm presuming the clubs financial dept have others to add. 

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Look we need to sell, sell, sell. We could auction the worlds largest cakeball. That's got to fetch a few quid, ok it might be a bit stale by now but people won't know until it's too late.

 

There's still a load of the play off finalists T shirts.

 

Think positive. 

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3 minutes ago, Wakefield owl said:

 

But a club can fail FFP and continue trading as long as it has the appropriate financial backing.

 

Dependent on the value of the forecast for the amount of overspend and predicted cost of fines. 

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1 minute ago, Hookowl said:

 

There are various things that don't count training/development, charities etc.

I'm presuming the clubs financial dept have others to add. 

If DC took his loans and converted them in equity shares then it would make the club solvent due to taking the balance sheet positive but this would stop the £20-25m of losses for this season.

 

Other than selling up to someone with a lot of money out club is only going one way.

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