bigrbuk Posted June 22, 2019 Share Posted June 22, 2019 £40m+ in debt, tried to convince football league ground was worth it, they said no, deal restructured to include shares to provide value. DC's new company owns half of swfc and a ground. Sheffield 3 leases ground, charges swfc £1 rent a year. Or...... No idea what's going on. Don't even know if that makes sense. 2 Link to comment Share on other sites More sharing options...
waddleisgod Posted June 22, 2019 Share Posted June 22, 2019 If this sort of thing can be done to avoid embargo’s or even points deductions like Birmingham faced, why didn’t Birmingham do the same? 2 Link to comment Share on other sites More sharing options...
Suzuki_San Posted June 22, 2019 Share Posted June 22, 2019 27 minutes ago, Pablo Bonvin said: So we must have sold our ground and only playing the away games then? Is that how it works? 8 Link to comment Share on other sites More sharing options...
Suzuki_San Posted June 22, 2019 Share Posted June 22, 2019 Just now, waddleisgod said: If this sort of thing can be done to avoid embargo’s or even points deductions like Birmingham faced, why didn’t Birmingham do the same? I think this is is all 'sell the ground and rent it back' related. 1 Link to comment Share on other sites More sharing options...
SallyCinnamon Posted June 22, 2019 Share Posted June 22, 2019 No one knows what’s going on. So let’s not pretend everything is rosy. Link to comment Share on other sites More sharing options...
Inspector Lestrade Posted June 22, 2019 Share Posted June 22, 2019 11 minutes ago, bigrbuk said: £40m+ in debt, tried to convince football league ground was worth it, they said no, deal restructured to include shares to provide value. DC's new company owns half of swfc and a ground. Sheffield 3 leases ground, charges swfc £1 rent a year. Or...... No idea what's going on. Don't even know if that makes sense. Who says were in £40m of debt? Link to comment Share on other sites More sharing options...
Guest Posted June 22, 2019 Share Posted June 22, 2019 £40m in debt !!? To whom exactly Link to comment Share on other sites More sharing options...
daleblue Posted June 22, 2019 Share Posted June 22, 2019 12 minutes ago, Mycroft said: Who says were in £40m of debt? They did 2 minutes ago, Royal_D said: £40m in debt !!? To whom exactly Them 7 Link to comment Share on other sites More sharing options...
darra Posted June 22, 2019 Share Posted June 22, 2019 26 minutes ago, waddleisgod said: If this sort of thing can be done to avoid embargo’s or even points deductions like Birmingham faced, why didn’t Birmingham do the same? only thing i can think of is nobody was willing to buy new shares or the cash wasn't available Link to comment Share on other sites More sharing options...
kevtheowl Posted June 22, 2019 Share Posted June 22, 2019 56 minutes ago, Mycroft said: How do you mean "we start again" he can spend what he wants? Absolutely, proper viv Nicholson style. UTO 2 Link to comment Share on other sites More sharing options...
Popular Post asteener1867 Posted June 22, 2019 Popular Post Share Posted June 22, 2019 29 minutes ago, waddleisgod said: If this sort of thing can be done to avoid embargo’s or even points deductions like Birmingham faced, why didn’t Birmingham do the same? They didn't have a forum full of financial experts like what we ..err...am 12 Link to comment Share on other sites More sharing options...
Bluesteel Posted June 22, 2019 Share Posted June 22, 2019 2 hours ago, yeadonowl said: As far as I’m aware the P&S figures are taken from bottom line figures from your annual P&L, something apart from interest payments, loans do form part of So conversion of loan debt to equity is a book entry on the balance sheet, so therefore not really helping out as far as our problem is concerned, unless the league just wanted to see a reduction in debt to sign off the accounts Company accounts is not my thing, more of a legal cashier I think the EFL could well be simply asking for debt reduction as you suggest. However, the p&s is the bottom line minus “add backs” which do not count in terms of EFL losses. Not clear what all add backs are so that’s where some of this could come into play. Link to comment Share on other sites More sharing options...
OWLERTON GHOST Posted June 22, 2019 Share Posted June 22, 2019 2 hours ago, Mrs Blenkinsops shed said: There's no limit Steve to the Wine Bar .... Where's the Fùcking Wine bar ?!!!!! 2 Link to comment Share on other sites More sharing options...
Guest mkowl Posted June 22, 2019 Share Posted June 22, 2019 2 hours ago, Sham67 said: Have you tried Delaware? I found it very good for keeping left overs fresh Link to comment Share on other sites More sharing options...
Guest mkowl Posted June 22, 2019 Share Posted June 22, 2019 59 minutes ago, Kameron said: If the debt is cleared and a small profit is shown, he can spend inline with P&S rules, hopefully this time with a manager who knows what he's doing we won't end up in this situation again. Had DC not been able to do this we would have been looking at a full transfer embargo and points deduction. If it comes off we go from having to endure another season of mediocrity to hopefully being able to challenge the top 6, there's no guarantees but at least this will bring the optimism back and lift the atmosphere around the place, we can start the new season in high spirits instead of doom and gloom, can't wait now. The issue of shares will have zero impact on the profit and loss account and thus the assessment on FFP. This may all be connected with the sale of the stadium to this new Holding company and if that shows an accounting profit it may clear most of the historic issue with FFP. To me this is all a fix to solve the past not a green light to go mad in the future. Crux is even in a normal season the club will probably lose 10m per season just standing still Don't think folk grasp the basic differential between our income and the much higher expenditure we have Link to comment Share on other sites More sharing options...
ChinaOwl Posted June 22, 2019 Share Posted June 22, 2019 5 minutes ago, mkowl said: I found it very good for keeping left overs fresh ye, I used to like the Delaware parties. Always had to carry a wad of cash though because they wouldn't accept plastic. Link to comment Share on other sites More sharing options...
Guest gizowl Posted June 22, 2019 Share Posted June 22, 2019 5 minutes ago, mkowl said: I found it very good for keeping left overs fresh Mk what are you making of the latest developments re accounts, is it good, bad or irrelevant. Link to comment Share on other sites More sharing options...
Guest mkowl Posted June 22, 2019 Share Posted June 22, 2019 1 minute ago, gizowl said: Mk what are you making of the latest developments re accounts, is it good, bad or irrelevant. Intrigued Like I say in my next post think it is clearing up the problems of the past Can see the logic of this being related to the ground sale to said holding company Can see why there has been a delay with the accounts I think the new co is probably based in an offshore jurisdiction, lose a lot of transparency down the line on how that is funded or indeed owned by Don't see it as financial splurge version 2, hopefully DC has grasped that moneyball is only as good as the manager you employ. Quite a few missing pieces of the jigsaw though - which I think most will fall into place soon. The sale of the stadium even to another 100% controlled company will never sit easily with me, not for today but tomorrow Link to comment Share on other sites More sharing options...
Guest gizowl Posted June 22, 2019 Share Posted June 22, 2019 2 minutes ago, mkowl said: Intrigued Like I say in my next post think it is clearing up the problems of the past Can see the logic of this being related to the ground sale to said holding company Can see why there has been a delay with the accounts I think the new co is probably based in an offshore jurisdiction, lose a lot of transparency down the line on how that is funded or indeed owned by Don't see it as financial splurge version 2, hopefully DC has grasped that moneyball is only as good as the manager you employ. Quite a few missing pieces of the jigsaw though - which I think most will fall into place soon. The sale of the stadium even to another 100% controlled company will never sit easily with me, not for today but tomorrow Cheers mate. Link to comment Share on other sites More sharing options...
prowl Posted June 22, 2019 Share Posted June 22, 2019 4 minutes ago, mkowl said: The issue of shares will have zero impact on the profit and loss account and thus the assessment on FFP. This may all be connected with the sale of the stadium to this new Holding company and if that shows an accounting profit it may clear most of the historic issue with FFP. To me this is all a fix to solve the past not a green light to go mad in the future. Crux is even in a normal season the club will probably lose 10m per season just standing still Don't think folk grasp the basic differential between our income and the much higher expenditure we have Sensible post. That's my interpretation on the very little we know. If it is the sale of the ground it will be a sale which provides income and presumably a lease back which will be an ongoing cost.Wwe don't know the cost of the leaseback but I don't think the EFL will accept less than a market 'rent' figure. It's effectively money now pay later if that's the case. We had better get our house in order in the breathing space this provides (If it is a sale and leasback of the ground) because we can only sell the ground once. Personally I'd rather we sold some players to sort out P & S but if we can't get enough for them this might be the only option. Link to comment Share on other sites More sharing options...
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