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Official: Accounts published


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1 hour ago, mkowl said:

 

No 

 

Sheffield Wednesday Football Club Limited owe DC 77m 

Sheffield Wednesday Football Club Limited are owed 60m by the entity that acquired the stadium

 

Net is £17m

MKowl, did I read something earlier about us paying back 7.5 million a year or was that wrong?

 

If that's the case does that get tagged as another expenditure for the year like a loan etc?

 

So another 7.5 million on top of our other outgoings?

 

Ta

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Guest mkowl
2 minutes ago, Sham67 said:

 

Sorry for bothering you mate.  I'm sure you've got something more productive to do. Could the club have taken advantage of this 'windfall' to shorten the amortisation period on players contracts? 

 

Its alright I am sending an invoice to Owlstalk

 

I would not think so - in terms of shortening the amortisation period - it is the length of the contract which is fixed

 

You should however write down the value of a player sooner if there is good reason to think their value has diminished below their theoretical value

 

So lets say Rhodes was bought at 10m on a 4 year contract - after 2 years his value in the books would be 5m. If his leg then fell off then he is worth nothing so you would write off the other 5m

 

So maybe there has been a little of that  

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Guest mkowl
5 minutes ago, asteener1867 said:

Ahhh

You mean 

DC chartered surveyors Ltd

And

The Elevate auditing company Ltd? 

lol

 

Naughty 

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1 minute ago, mkowl said:

 

Its alright I am sending an invoice to Owlstalk

 

I would not think so - in terms of shortening the amortisation period - it is the length of the contract which is fixed

 

You should however write down the value of a player sooner if there is good reason to think their value has diminished below their theoretical value

 

So lets say Rhodes was bought at 10m on a 4 year contract - after 2 years his value in the books would be 5m. If his leg then fell off then he is worth nothing so you would write off the other 5m

 

So maybe there has been a little of that  

 

Thanks.

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5 minutes ago, billyblack said:

MKowl, did I read something earlier about us paying back 7.5 million a year or was that wrong?

 

If that's the case does that get tagged as another expenditure for the year like a loan etc?

 

So another 7.5 million on top of our other outgoings?

 

Ta

 

The stadium buyer is paying annual instalment of £7.5M to the club for the stadium. I'm guessing this will equate to the rental costs, so there'll be no cash changing hands.

 

Or maybe that's high for the rental costs - I don't know.

Edited by WC1Owl
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Guest mkowl
2 minutes ago, billyblack said:

MKowl, did I read something earlier about us paying back 7.5 million a year or was that wrong?

 

If that's the case does that get tagged as another expenditure for the year like a loan etc?

 

So another 7.5 million on top of our other outgoings?

 

Ta

 

Well that is my call based on the limited information within the accounts. It says 7.5m is due less than one year 52.5m more than one year so I am giving an educated opinion (I hope)

 

But it is not an outgoing - it is money OWED to us by the 3rd party we have sold the stadium to - so it is money coming in not out

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Guest mkowl
1 minute ago, WC1Owl said:

 

The stadium buyer is paying annual instalment of £7.5M to the club for the stadium. I'm guessing this will equate to the rental costs.

 

Not necessarily 2 separate things

 

Stadium rent may be only a £1m - who knows 

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1 minute ago, mkowl said:

 

Not necessarily 2 separate things

 

Stadium rent may be only a £1m - who knows 

 

Yeah, I understand that they're separate things. I was just wondering if they'd be used to cancel each other out for cash purposes. But loading £7.5M stadium rental a year onto our current P&L doesn't seem to make much sense so I assume it will be lower.

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31 minutes ago, oh_weds_we_love_you said:

 

Amen. Sadly, when an owner has invested probably the best part of £200m to get to the Premier League, there is no way he's going to let that investment dwindle down and end up with a team/set up in place destined for League One (and more P&S misery).

 

Honestly believe football is too expensive for even clubs like ours to come close to competing, even at the top end of the Championship. Us, without a loaded Chairman, has very little chance - you have to get lucky like United/Huddersfield/Cardiff (who all still registered significant losses to get there - just not as crazy as ours!).

 

28 minutes ago, 2roland2 said:

 

Yep I guess that’s why I probably sound more critical of Chansiri than most, the fact is I didn’t want someone to come in and throw money at it and gamble, again I will state I was adamant on this even pre Chansiri whenMamadov was sniffing around 

 

I just don’t see this as good for us or the game, I have nothing against him personally but I just don’t want him gambling the future of our club, and for me that’s what it seems like we have done. 

get room you two....

Looks like a bromance is starting....

Love you guys!!!!!

  • Haha 1
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5 minutes ago, mkowl said:

 

Well that is my call based on the limited information within the accounts. It says 7.5m is due less than one year 52.5m more than one year so I am giving an educated opinion (I hope)

 

But it is not an outgoing - it is money OWED to us by the 3rd party we have sold the stadium to - so it is money coming in not out

Ok, so we could class that as revenue?

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Guest mkowl
30 minutes ago, billyblack said:

Ok, so we could class that as revenue?

 

NO - it is cash coming in but its not sales, which is key for FFP

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Guest mkowl
1 minute ago, billyblack said:

ok, so it would count to offset against outgoings then?

 

No 

 

Unfortunately in accounts there is a world of difference between money going in and out of a bank account and whether that counts as revenue and expenditure

 

Sorry I appreciate for folk this is all appears bjollocks but flip them it pays my mortgage :Sid:

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Guest wilyfox

Can someone give a brief summary for dumb dumb shithouses like myself, please?

 

Are we loaded again or not? 

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2 minutes ago, mkowl said:

 

No 

 

Unfortunately in accounts there is a world of difference between money going in and out of a bank account and whether that counts as revenue and expenditure

 

Sorry I appreciate for folk this is all appears bjollocks but flip them it pays my mortgage :Sid:

 

I'd have thought you'd paid that off long ago. :Sid:

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