Official: Accounts published

[Guest mkowl]

3 minutes ago, billyblack said:

Wasnt that the increase in share holdings of about 20 million mentioned a few weeks ago?

 

Sort of the confirmation statement said we were now owned by Sheffield Wednesday Holdings - who have 46.5m shares

 

The accounts show 25.5m plus the 21m referred to in Sept 18 which gives the 46.5m - then exchanged by DC to Sheffield Wednesday Holdings - he will have got shares on Sheffield Wednesday Holdings as part of this restructure

 

Companies House is missing the 21m increase in share capital in Sept 18 - which looks like it has not been filed but it makes a bit more sense now 

[markowl]

5 minutes ago, billyblack said:

You asked

I asked Sally Cinammon

[billyblack]

1 minute ago, mkowl said:

 

Sort of the confirmation statement said we were now owned by Sheffield Wednesday Holdings - who have 46.5m shares

 

The accounts show 25.5m plus the 21m referred to in Sept 18 which gives the 46.5m - then exchanged by DC to Sheffield Wednesday Holdings - he will have got shares on Sheffield Wednesday Holdings as part of this restructure

 

Companies House is missing the 21m increase in share capital in Sept 18 - which looks like it has not been filed but it makes a bit more sense now 

That was it. Cheers

[Guest mkowl]

7 minutes ago, Millhouses said:

That means that we owe £137 million to DC and un-named stadium purchaser?

 

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

[bigdan2003]

Well. Let’s hope he/they has learnt from past mistakes and we can kick on from here, with or without Bruce. 

 

Fair play to DC, he’s dragged us out of a pickle. He’s clearly committed. 

[billyblack]

3 minutes ago, Millhouses said:

If we don’t get to the Premiership and DC walks away and calls in the loans we are in it as deep as you can be.

Marvellous. Nothing to see here. All good. Move along please......

[billyblack]

1 minute ago, bigdan2003 said:

Well. Let’s hope he/they has learnt from past mistakes and we can kick on from here, with or without Bruce. 

 

Fair play to DC, he’s dragged us out of a pickle. He’s clearly committed. 

Fair play my rusty eye

[Guest gizowl]

So mk,what does this mean going forward, how will we have to cut our cloth, please keep it simple, can we still hope to compete and how we keep within the guidelines in future, thanks. 

[oh_weds_we_love_you]

Just now, 2roland2 said:

 

What  are you going on about sleeper cell , I think you read too many creative novels.....  look back at my history, I have been consistent even before Chansiri came in, whilst we were talking to Mamadov and co.

 

where is the proof he has learned? We have just sold our only real tangible asset as a last chance rescue to avoid all sorts of issues. We aren’t looking at building commercial revenue for future years because we are fudging sponsors to get around ffp. And we aren’t selling players like other clubs.  

 

Like me I said you clearly aren’t worried, I am!!!  I wanted our club to be run sustainably rather than chasing the dream, I have always been consistent with that, I would rather have Wednesday here in 20/50/100 years time than gamble on getting to the prem. 

 

i am am happy to support us no matter what league we are in because if I wanted glory I wouldn’t be a wednesday fan. 

I just want our club to be safe,  it doesnt feel like  the future is safe atm. 

 

You come out and post sh*te after sh*te after sh*te. You go quiet when there is good news. That's a forum sleeper cell. They tend to be Unitedites or someone with an agenda.

 

Proof we've learned? Reduced player spending, no more "Urby" signing with no reason, proper manager recruited, come up with several initiatives to try and raise income (albeit some were w*nk), and dropped previous player advisers - all suggest he's learning.

 

Yes, we aren't selling players at the right time and that's got to change, but I can bet my last dollar that the moment we sell someone, you'll come on here posting negative crap about the sale!

 

I am worried, I'm worried about the way football in general is going - and even more so the Championship - as money is going mental. In the main, clubs are having to spend well above their means just to keep their heads above the water. That's the challenge our owner faces. I'm not worried about the future of the stadium as it looks as though the same guy who owned it before still owns it now.

 

There is nothing you or I can do about it, so enjoy the ride.

[teddybeararmy]

9 minutes ago, billyblack said:

Nope. Because the 3 years includes that period. Next year it wont.

Is it the 15-16 that drop off first, replaced by 18-19?

[oh_weds_we_love_you]

Only sleeper cells Wednesday fans could complain that Mr Chansiri has sold the stadium he owned, to himself, for £60m when it is worth 10% of that!

[Guest mkowl]

3 minutes ago, 2roland2 said:

 

Mkowl. Dont know if this is a silly question but I will ask it anyhow. 

Is the entity that purchased the stadium allowed to sell on quickly to another company,  and would we still receive anything if the original company who purchased our ground  was then wound up?  Is that possible or isn’t it allowed? 

 

Owned by a 3rd party - do what they like 

 

It does show £7.5m owed of the 60m is due within 1 year 

 

So at that rate of repayment we would get the full amount over 8 years

 

Presume the idea is to fund the club via repayment of this debt not for DC to add more shareholder funds 

[RichieB]

SUCK IT GIBSON 

 

 

[billyblack]

2 minutes ago, teddybeararmy said:

Is it the 15-16 that drop off first, replaced by 

Yes maybe actually, i could be a year out. Would need to check accounts again

[dorian gray]

1 hour ago, alanharper said:

So without the dodgy stadium sale we'd have lost over £35m in one year?

 

Although £30m of that was probably David Jones' wages...

 

 

how do you know it's 'dodgy'?

[pazowl55]

22 minutes ago, dewsburyowl58 said:

Let’s wait and see , it’s just speculation. We have secured at least 5 players 3 new 2 retained we have beaten FFP , beaten Shrewsbury , got Espanyol at Hillsborough  what’s not to like !! 

The fact we might not have a manager tomorrow.

[mike84]

1 hour ago, matthefish2002 said:

Sold stadium to get us out of a hole of FFP.

What happens if we dont go up in next couple of 

Gift it back to the club,  and resell it

[upperwinngardensowl]

I literally have no idea what any of this actually means for the club, but my gut feeling is Short term = Good, Long Term = Who Knows?

[Bukta]

18 minutes ago, Millhouses said:

If we don’t get to the Premiership and DC walks away and calls in the loans we are in it as deep as you can be.

Pointless calling back the loans unless there are sufficient funds to fulfil them.

 

Bit of a pointless point.

Edited July 11, 2019 by Bukta

[Guest mkowl]

6 minutes ago, gizowl said:

So mk,what does this mean going forward, how will we have to cut our cloth, please keep it simple, can we still hope to compete and how we keep within the guidelines in future, thanks. 

 

Going by a quick check our accounting losses are now

 

May 2016  £9.6m

May 2017 £20m

July 2018 Profit £2m

 

So say £28m - caveat is this is not necessarily the FFP position but nearest we will know 

 

So £9.6m will drop out but July 2019 figures will add in 

 

Given the changes are only in the summer 2019 then I can see a loss of £20m easily for the season just finished - with no Plan B (well we could sell the training ground !)

 

I think just plodding along we will be upto the FFP limits on a rolling basis