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EFL have fresh concerns over Hillsborough sale


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As a fanbase, we can come up with all the anti-EFL conspiracies we can think of.

 

But the time it took the club to release our accounts in the summer speaks for itself.  I knew something was off from a very early stage this summer.

 

The boom-and-bust, short-term thinking of the early Chansiri years is coming to bite us.  He gambled with our club’s future and now we, the fans are feeling the pinch of his overspending on tripe Doyen Group signings.

 

The saddest thing is that when some of us queried the signings of Rhodes, Abdi and the second-XI of players that Carvalhal froze out of the first team picture, we were shouted down by the Chansiri admirers, who praised Delphon’s every move.  Some of those aggressors will still refuse to accept that he’s made mistakes.

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12 hours ago, S36 OWL said:

 

The underlying problem at the heart of this is the total unlevel playing field created by the premier leagye and their failure payments. Sadly the EFL havnt got the balls to do whats right and tell the prem these payments are destroying the championship.

 

Knowing our luck, we missed out on parachute payments when we got relegated from the premier league (because they hadn’t yet been introduced - and they really would’ve helped us). And by the time we go up and should we ever go back down again they will have been stopped (because they’re unfair).

 

And in the meantime many clubs, including our neighbour, shall have benefited from them.

 

It’s the parachute payments that makes getting promoted so lucrative. But it’s also the parachute payments that distorts the championship so much.

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7 hours ago, Westfield Owl said:

As a fanbase, we can come up with all the anti-EFL conspiracies we can think of.

 

But the time it took the club to release our accounts in the summer speaks for itself.  I knew something was off from a very early stage this summer.

 

The boom-and-bust, short-term thinking of the early Chansiri years is coming to bite us.  He gambled with our club’s future and now we, the fans are feeling the pinch of his overspending on tripe Doyen Group signings.

 

The saddest thing is that when some of us queried the signings of Rhodes, Abdi and the second-XI of players that Carvalhal froze out of the first team picture, we were shouted down by the Chansiri admirers, who praised Delphon’s every move.  Some of those aggressors will still refuse to accept that he’s made mistakes.

 

No one was shouted down and there are no Chansiri admirers.

 

There are just people willing to give balanced opinions and not always stick boot into Chansiri with glee.

 

A gleeful I told you so attitude before we know the outcome says it all.

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Back in time, most football clubs were owned by local people, often with shares spread across their supporters. It was a game supported mainly by working and middle class people and the UK game reflected a country where the laws and rules of the game had mainly been created and documented. The players in Divisions 1 and 2 were paid just slightly above the average wage and lived in the local community and aspired to a semi-detached house and a family car.

 

If someone had written a fictional novel, let's say around 1975, about a football world where an Australian media mogul had offered the 1st Division a fortune for TV rights (which supporters would pay handsomely to watch), where most clubs became owned by rich non-UK people with questionable fortunes, where all the regular players in Division 1 were multi-millionaires with most not born in the UK and where clubs which failed and were relegated were paid handsomely for their failure - then the novel would have been laughed at as being so far fetched as to be unbelievable.

 

And yet this is where we are now and beyond. There is so much money swilling around the Premier League that it is almost impossible to trace where it all comes from and who is getting what. Arrangements where owners of football clubs sponsor their own teams at rates which are very difficult to substantiate on the open market and even sell the stadia which they already own back to their own family are no longer unusual. 

 

The FFP system in the EFL and the equivalent in the Premier League are poor and ineffective attempts belatedly to regulate what has happened. Gate open and horse left so long ago that it has probably died of old age.

 

Our club is forever in catch-up mode and I doubt that it will ever be the force it once was and we are all dreaming it will become again. I believe the sport has been totally corrupted, never again to return in its original form.

Edited by Andrew Robinson
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Getting rather weary of this ground sale, transfer embargo, possibility of points deduction scenario. Surely it would have been better to take a points hit last season, like Birmingham did, than this as we would not have been relegated. After all it was clear we were going to be mid table and we had already applied to hand in the accounts late.

Any punishment this season would in effect end it as far as play-off hopes are concerned.  Can only assume (hope) DC has been well advised re the moves he has made re ground sale. It may well be we are cleared but the continued uncertainty is unwelcome and damaging to the club.

 

 

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I don't get what the value has actually got to do with anything.

 

Something is worth what someone is willing to pay.

My house may be worth £150,000 (ball park figure), but if I don't want to sell it, I'm not going to accept £150,000.

 

However, if someone REALLY wanted it, and offered me lets say £250,000 then I'd be willing to sell it. 

 

Harry Maguire will not have been valued at £80m - However, Man Utd offered that and Leicester couldn't turn it down. So do Leicesters accounts go on the actual value of Maguire?

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1 hour ago, matthefish2002 said:

Why wasn't all this looked into before we came out of an embargo? 

 

This. I'd assumed that the delay in the accounts being filed & the embargo being lifted was at least partly due to the EFL sanctioning the stadium sale.

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39 minutes ago, Skyline said:

I don't get what the value has actually got to do with anything.

 

Something is worth what someone is willing to pay.

My house may be worth £150,000 (ball park figure), but if I don't want to sell it, I'm not going to accept £150,000.

 

However, if someone REALLY wanted it, and offered me lets say £250,000 then I'd be willing to sell it. 

 

Harry Maguire will not have been valued at £80m - However, Man Utd offered that and Leicester couldn't turn it down. So do Leicesters accounts go on the actual value of Maguire?

Fair points if it had been sold to an unrelated party as in your house to someone else or Maguire from Leicester to ManU but this was a related party non-commercial transaction to manage the books.

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On 24/09/2019 at 17:36, mkowl said:

However given one of the auditors test would ordinarily be to check land Registry as independent evidence of a purchase or sale ......

 

However a sale does not need to be legally completed for it to be included in the accounts - if a valid contract was in place at 31st July 2018

Listen to this feller, he knows his Onionslol

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If the contract was in place before the 2018 accounts were signed off by the director, are we not actually required under accounting rules to adjust this in the 2018 accounts on the basis that it is a material post balance sheet event?

 

I'm sure the real issue here is about the valuation being being at arms length.

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taking personalities out of this

 

I'm sure I'm not alone worrying just what sort of mess we'll be in IF the investment dries up or have serious sanctions imposed or  the investor gets fed up with inability to put in what they want and packs it in 

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2 minutes ago, steelowl said:

taking personalities out of this

 

I'm sure I'm not alone worrying just what sort of mess we'll be in IF the investment dries up or have serious sanctions imposed or  the investor gets fed up with inability to put in what they want and packs it in 

 

No im sure your not alone, it has to be a concern to any rational fan of not just Wednesday but any other mid to lower prem/ championship club. But unfortunately football in this country is broken to a point where the rich get richer and the rest recklessly remortgage themselves to the brink in the hope

of sharing some of the crumbs from the top table. I don’t blame Chansiri for selling the stadium to get round ffp, he’s here for one reason to get us to the premier league as quick as possible and make some mega money in the process (Along with most other championship owners). 

 

But what can we as average fans do? Boycott? Protest? Support to the death?Or do we just get taken along for the ride and hope that one year we will finally strike lucky before it all goes bust?

 

I think one things for sure ours and the current championship financial model, although one of the worlds most competitive and unpredictable leagues, is not sustainable.

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