BARMYARMY2010 Posted May 17, 2019 Share Posted May 17, 2019 Just now, axolotl said: He is trying by consulting expert and knowledgable advice, ie, you - apparently. I'm basing this on the fact that you have categorically and confidently stated DC can't just dissolve Sheffield Wednesday PLC. I hope to God that you're right, and he cant simply settle all existing external debts and dissolve Sheffield Wednesday PLC. Reassure us of this? My understanding is he simply has to convene a board meeting and get the majority of directors to sign a Declaration of Solvency, then appoint an Independent Liquidator with support of 75% of shareholders to liquidate assets of the company and settle any creditors in full. Why can't he do this? We don't have a board of directors fella. Link to comment Share on other sites More sharing options...
Guest Bulgaria Posted May 17, 2019 Share Posted May 17, 2019 8 minutes ago, Mycroft said: If I had enough money to buy SWFC then there would be at least one person who would be buying the club for the love of it. I can't answer for other peoples motives. Can you with 100% certainty? Obviously not, but I would hazard a guess that every single owner of a premiership club is in it for the dosh Link to comment Share on other sites More sharing options...
Roscoe P. Coltrane Posted May 17, 2019 Share Posted May 17, 2019 1 hour ago, Royal_D said: The chairman HAS to find a way of pumping money into the football club Sell some players like other clubs do Yes I know it's a novel idea EVERY club is a selling club Why should we be any different FFS. Link to comment Share on other sites More sharing options...
ChinaOwl Posted May 17, 2019 Share Posted May 17, 2019 1 minute ago, axolotl said: He is trying by consulting expert and knowledgable advice, ie, you - apparently. I'm basing this on the fact that you have categorically and confidently stated DC can't just dissolve Sheffield Wednesday PLC. I hope to God that you're right, and he cant simply settle all existing external debts and dissolve Sheffield Wednesday PLC. Reassure us of this? My understanding is he simply has to convene a board meeting and get the majority of directors to sign a Declaration of Solvency, then appoint an Independent Liquidator with support of 75% of shareholders to liquidate assets of the company and settle any creditors in full. Why can't he do this? Sheffield Wednesday have not been a PLC for years. It most definitely is a Limited Company. Link to comment Share on other sites More sharing options...
kirksandallowl Posted May 17, 2019 Share Posted May 17, 2019 2 minutes ago, axolotl said: He is trying by consulting expert and knowledgable advice, ie, you - apparently. I'm basing this on the fact that you have categorically and confidently stated DC can't just dissolve Sheffield Wednesday PLC. I hope to God that you're right, and he cant simply settle all existing external debts and dissolve Sheffield Wednesday PLC. Reassure us of this? My understanding is he simply has to convene a board meeting and get the majority of directors to sign a Declaration of Solvency, then appoint an Independent Liquidator with support of 75% of shareholders to liquidate assets of the company and settle any creditors in full. Why can't he do this? Because Roland says so and if he tries he’ll sqthweem & sqthweem & sqthweem & sqthweem until he’s sick 5 Link to comment Share on other sites More sharing options...
axolotl Posted May 17, 2019 Share Posted May 17, 2019 Just now, 2roland2 said: I will say the same thing to you as him, go and dig deeper than a government website for day to day business I checked two different legal advice websites (ThomsonReuters and Traynor Group) and they appear to say the same as the government website? Which source did you use to ascertain that he can't do it? I'll glad read up and be happy to be corrected on this; I am very much a layman in legal matters! 1 Link to comment Share on other sites More sharing options...
ChinaOwl Posted May 17, 2019 Share Posted May 17, 2019 1 minute ago, Bulgaria said: Obviously not, but I would hazard a guess that every single owner of a premiership club is in it for the dosh I would hazard a guess that you would struggle to find one that has actually profited financially from owning a PL club. Link to comment Share on other sites More sharing options...
Leaping Lannys Perm Posted May 17, 2019 Share Posted May 17, 2019 11 hours ago, The Captain said: Very concerning if true. Doesn’t sit right with me at all. My sentiments exactly. The usual finger in ears group will say it is fine but it seems like every team who sells their ground ends up having a nightmare because of it. I get that this situation may well be different, given that it is probably to our owner to skirt FFP but with a lack of 'successful' examples of clubs selling their ground means it is only right to be concerned. 1 Link to comment Share on other sites More sharing options...
kirksandallowl Posted May 17, 2019 Share Posted May 17, 2019 3 minutes ago, DELUDED OWL said: We don't have a board of directors fella. Yes we do, its current members are 1. D Chansiri Link to comment Share on other sites More sharing options...
Inspector Lestrade Posted May 17, 2019 Share Posted May 17, 2019 1 minute ago, Bulgaria said: Obviously not, but I would hazard a guess that every single owner of a premiership club is in it for the dosh So now your guessing, we can all hazard a guess but it gets us no nearer to the truth of the matter. Sometimes the honest answer is "I don't know". Link to comment Share on other sites More sharing options...
room0035 Posted May 17, 2019 Share Posted May 17, 2019 3 minutes ago, axolotl said: He is trying by consulting expert and knowledgable advice, ie, you - apparently. I'm basing this on the fact that you have categorically and confidently stated DC can't just dissolve Sheffield Wednesday PLC. I hope to God that you're right, and he cant simply settle all existing external debts and dissolve Sheffield Wednesday PLC. Reassure us of this? My understanding is he simply has to convene a board meeting and get the majority of directors to sign a Declaration of Solvency, then appoint an Independent Liquidator with support of 75% of shareholders to liquidate assets of the company and settle any creditors in full. Why can't he do this? I maybe be wrong but I think a club has a duty of care to fulfil league fixtures. So any dissolving of a team would not be allowed in the season. but if DC went tomorrow we would go into administration, and start next season -12 points then start again under SWFC2019 he would still own the stadium and the in is the issue like Coventry currently have, DC could charge whatever he wanted and we either pay it or find another home.in let's hope that doesn't happen .... Link to comment Share on other sites More sharing options...
Minton Posted May 17, 2019 Share Posted May 17, 2019 3 minutes ago, kirksandallowl said: Yes we do, its current members are 1. D Chansiri 2. Chansiri, D? Link to comment Share on other sites More sharing options...
BARMYARMY2010 Posted May 17, 2019 Share Posted May 17, 2019 Just now, kirksandallowl said: Yes we do, its current members are 1. D Chansiri How very droll sir................well done. Link to comment Share on other sites More sharing options...
Guest Bulgaria Posted May 17, 2019 Share Posted May 17, 2019 4 minutes ago, Mrs Blenkinsops shed said: Sell some players like other clubs do Yes I know it's a novel idea EVERY club is a selling club Why should we be any different FFS. Sod that. Let's sign up duds on 25 grand a week, then when that goes boobies up, flog the stadium. Link to comment Share on other sites More sharing options...
Guest Posted May 17, 2019 Share Posted May 17, 2019 1 minute ago, 2roland2 said: You can have ambition without putting the club at risk you know, you just have to be a bit more patient. like I said if you are looking for success there are much easier clubs to follow than us. Putting the club at risk.... because he’s bought the ground that the club he OWNS lock stock and barrel plays at If anyone is putting clubs at risk it’s the EFL with there tinpot schemes to stop people competing with the premier league Link to comment Share on other sites More sharing options...
kirksandallowl Posted May 17, 2019 Share Posted May 17, 2019 1 minute ago, room0035 said: I maybe be wrong but I think a club has a duty of care to fulfil league fixtures. So any dissolving of a team would not be allowed in the season. but if DC went tomorrow we would go into administration, and start next season -12 points then start again under SWFC2019 he would still own the stadium and the in is the issue like Coventry currently have, DC could charge whatever he wanted and we either pay it or find another home.in let's hope that doesn't happen .... If he cleared the debts first who would put us into admin Link to comment Share on other sites More sharing options...
axolotl Posted May 17, 2019 Share Posted May 17, 2019 5 minutes ago, ChinaOwl said: Sheffield Wednesday have not been a PLC for years. It most definitely is a Limited Company. Someone had better tell companies house this? Link to comment Share on other sites More sharing options...
kirksandallowl Posted May 17, 2019 Share Posted May 17, 2019 1 minute ago, DELUDED OWL said: How very droll sir................well done. come me on it was an open net... Link to comment Share on other sites More sharing options...
Guest Bulgaria Posted May 17, 2019 Share Posted May 17, 2019 1 minute ago, Mycroft said: So now your guessing, we can all hazard a guess but it gets us no nearer to the truth of the matter. Sometimes the honest answer is "I don't know". Ok, I personally know all the owners of all the premiership teams and they have categorically stated to me that they are in it for the dosh. Ok? Link to comment Share on other sites More sharing options...
fpowl Posted May 17, 2019 Share Posted May 17, 2019 I understand all arguments of this firstly as a fan you want to keep your club with its heritage and keep it prestigious selling your ground can be seen as compromise the other side to that is modern day football as in general lost is heritage and soul as the fan on the stand it’s a commercial business players are on huge wages and that old loyal English homegrown thing we all love is a thing of the past. We are more multicultural as a nation. In football even Britain’s got talent is global and the foreign influence dilutes our heritage but makes it more appealing to watch to wider audience and globally. we lose our assets by selling the stadium yes but it stays in the same circles the risk is there if our owner business collapses but the world is run on credit and this is the norm these days I doubt many on here bought there house mortgage free for cash we need to raise capital and keep competitive we are governed by profitability and sustainability rules and this seems the latest by clubs being able to manipulate this to keep competitive younger clubs and clubs with council stadiums won’t have this option I take Rotherham Doncaster and chesterfield as an example to this so you can argue this is our get out of jail free card what I do think is the championship is highly competitive and will continue to be as parachute payments continue you need massive luck and great management to get out of this league recent teams like Huddersfield and dare I say the pigs are examples of this this automatically if we like this or not leap frogs them above us in what they can do by their recent promotions. If we don’t keep competitive and get out of this league we will either start sliding backwards or go into oblivion completely this is a way to reset the clock learn from our mistakes and stay competitive but we’ve thrown our last hand in. We have to start managing this club ( sustainable) that means selling players buying better contracting better because if we get in this position again we will have to go 10 steps backwards to move forward do I agree with a stadium sale as a fan- hell no do I agree with it as our only option to stay competitive due to our current situation and need to compete - yes please though Chansiri let’s manage this next 3 years more diligently 1 Link to comment Share on other sites More sharing options...
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