EFL Statement

[vulva]

What we don’t want is a points deduction early next season after a bad start. This league is absolute badger spunk so I’d be tempted to take the hit asap as we will have enough to stay up. 

[sherlyegg]

8 hours ago, Nut said:

I'm hoping you're right but I cant see the EFL doing this just to appease the other chairmen. 

Just can't see our lawyers making a major mistake like that.....

Unless our chairman overruled em .

Brummies are making a big noise over this..we should get 9 / 12 pt deduction etc..

But this is an entirely different case.

If they / he has fooooked up, then it must be the biggest form of incompetence the world has ever seen.

Though i do remember dc saying we have to go up ( last season)..or in very big doo dah.

 

[jomaco]

2 hours ago, Yellowbelly said:

What they do is drive up prices in the market, meaning average players are valued more than they should be forcing clubs to spend more than they should do. It’s essentially financial doping and with the arbitrary figure the efl put on “losses” it has caused an uneven playing field.

Perhaps that allowed loss figure should be higher for clubs that do not have parachute payments, i.e. by an amount equivalent to the parachute payment

[sweetsheri]

52 minutes ago, prowl said:

The problem with the accounts was that we lost too much money for EFL rules. EFL can't jail people, they can take action against the club and fine them, dock points, relegate the club or throw them out of the league. I've not seen anything so far that suggests they can incarcerate the owner of a club. That is down to the financial conduct authorites, HMRC all of whom use the courts. I don't think HMRC are bothered unless the club are trying to defraud the tax man. That's not the case here, the sale of the ground was used to reduce a loss, if it was in the following year maybe it would have resulted in a profit but that would be offset by the prior year loss.

 

The other possible charge would be false accounting but I doubt that would fly in the circumstances. I don't see DC getting locked up.which was the point of the previous poster who I replied to. I think the suggestion was that DC would keep a plane fueled and ready at an airport in case he had to flee the country. My point was that was extremely unlikely and scaremongering.

 

I am not a lawyer or an accountant so I'm ready to accept I might be wrong. It doesn't appear you are either. I'll leave it there.

Doesn’t take an accountant or a lawyer to know that placing transactions into the incorrect financial year to either bolster or hide revenue, whichever is applicable, amounts to financial malpractice. 
You are correct, I’m neither. However, as a commercial director of a mid size healthcare manufacturer I know a fair bit about what is recognised as revenue and how financial reporting works.

Not scaremongering, the club are doing a good enough job of that don’t you think?

[sherlyegg]

3 hours ago, Essix Blue said:

Also - has been proven many times - parachute payments give no guarantee that a relegated team would go straight back up.

Still an unfair advantage..we or other champ clubs overspend, points off / embargo.

Relegated club, spend what you want, push prices up, pay big wages for average players...etc etc.

Not reyt.

Same league, same rules for all.

 

[daleblue]

I want to know where our friends have gone, they are still around aren't they?

 

 

[WalthamOwl]

36 minutes ago, vulva said:

What we don’t want is a points deduction early next season after a bad start. This league is absolute badger spunk so I’d be tempted to take the hit asap as we will have enough to stay up. 

yes I would much rather a points deduction 9-12 points this season that start next season with the deduction. 

[WalthamOwl]

If we are found guilty and deducted points or even relegation personally I think DC would need to get out of this club ASAP. 

[bigthinrob]

Have come back to this thread after a few days and what is glaringly abundantly clear. Is that no one has a fuc**g clue about any of it. 111 pages going round & round in circles.

 

We’ve got the lot, bar room barristers, tap room tax experts, financial experts, clairvoyants, wise in hindsight experts, the lot!!

 

Hundred odd pages of assumptions, misinformation, in some cases complete boll**ks, rumour, scandal, libel & slander & ‘I know best’ opinion. 

 

Owlstalk at its bullsh**ng, panic ridden, bed wetting, hilarious best! 

 

 

[sweetsheri]

3 minutes ago, bigthinrob said:

Have come back to this thread after a few days and what is glaringly abundantly clear. Is that no one has a fuc**g clue about any of it. 111 pages going round & round in circles.

 

We’ve got the lot, bar room barristers, tap room tax experts, financial experts, clairvoyants, wise in hindsight experts, the lot!!

 

Hundred odd pages of assumptions, misinformation, in some cases complete boll**ks, rumour, scandal, libel & slander & ‘I know best’ opinion. 

 

Owlstalk at its bullsh**ng, panic ridden, bed wetting, hilarious best! 

 

 

Eh up Mr C. You back in Blighty?

[trev]

10 minutes ago, WalthamOwl said:

If we are found guilty and deducted points or even relegation personally I think DC would need to get out of this club ASAP. 

I'm sure he would like to get out too...as long as someone is willing to buy the club for enough money to get most of his money back.

 

Which would be how much do we think??

[Mr Farrell]

Just now, trev said:

I'm sure he would like to get out too...as long as someone is willing to buy the club for enough money to get most of his money back.

 

Which would be how much do we think??

 

We were quite an attractive buying prospect when DC got us.

 

We are less attractive now than we've ever been, by a lot of millions.

 

Nobody is buying us until we are Premier League or in administration.

 

 

 

 

[prowl]

1 hour ago, mkowl said:

 

In terms of the disposal of the stadium then possibly HMRC could get interested just in how loss rules work. However that is a bit technical shizzle 

Thanks mkowl.

[HIGHERSTATE]

33 minutes ago, bigthinrob said:

Have come back to this thread after a few days and what is glaringly abundantly clear. Is that no one has a fuc**g clue about any of it. 111 pages going round & round in circles.

 

We’ve got the lot, bar room barristers, tap room tax experts, financial experts, clairvoyants, wise in hindsight experts, the lot!!

 

Hundred odd pages of assumptions, misinformation, in some cases complete boll**ks, rumour, scandal, libel & slander & ‘I know best’ opinion. 

 

Owlstalk at its bullsh**ng, panic ridden, bed wetting, hilarious best! 

 

 

Only thing missing from this post is a cunning plan mr b

[Steve Down South]

53 minutes ago, sherlyegg said:

Still an unfair advantage..we or other champ clubs overspend, points off / embargo.

Relegated club, spend what you want, push prices up, pay big wages for average players...etc etc.

Not reyt.

Same league, same rules for all.

 

I know things look a bit bleak right now (even without EFL charge I reckon we will struggle to stay out of embargo / avoid points deduction in future) but we really do need to stop this self pity over existing P&S rules.

 

Preston, Leeds, Forest and Bristol City all in top 6 right now and not a parachute payment between them.

[trev]

38 minutes ago, Mr Farrell said:

 

We were quite an attractive buying prospect when DC got us.

 

We are less attractive now than we've ever been, by a lot of millions.

 

Nobody is buying us until we are Premier League or in administration.

 

 

 

 

Agreed.

 

He would want easy double what he paid for us.

 

No chance of us getting sold unless he's willing to write off his losses.

[Inspector Lestrade]

2 hours ago, billyblack said:

Well one things for sure. With Rhodes he didnt invest in quality anyway

 

 

Hindsight eh?  The football fans greatest friend. 

[Guest]

4 minutes ago, trev said:

Agreed.

 

He would want easy double what he paid for us.

 

No chance of us getting sold unless he's willing to write off his losses.

Might write off his losses rather than fund another go though,  who knows how he will be thinking after the EFL have worked there magic that they call ‘protecting’ clubs 

[pat blondeau]

1 hour ago, prowl said:

The problem with the accounts was that we lost too much money for EFL rules. EFL can't jail people, they can take action against the club and fine them, dock points, relegate the club or throw them out of the league. I've not seen anything so far that suggests they can incarcerate the owner of a club. That is down to the financial conduct authorites, HMRC all of whom use the courts. I don't think HMRC are bothered unless the club are trying to defraud the tax man. That's not the case here, the sale of the ground was used to reduce a loss, if it was in the following year maybe it would have resulted in a profit but that would be offset by the prior year loss.

 

The other possible charge would be false accounting but I doubt that would fly in the circumstances. I don't see DC getting locked up.which was the point of the previous poster who I replied to. I think the suggestion was that DC would keep a plane fueled and ready at an airport in case he had to flee the country. My point was that was extremely unlikely and scaremongering.

 

I am not a lawyer or an accountant so I'm ready to accept I might be wrong. It doesn't appear you are either. I'll leave it there.

HMRC were one of the main reasons for the introduction of FFP.

 

Before FFP clubs were going into administration and millions in unpaid tax was having to be written off by HMRC.

 

HMRC isn’t deemed a preferential creditor and has to line up with other non-football creditors to share what’s left in the pot. So the taxman was only being paid 5-10% of what was actually owed when football clubs went into administration.

 

Leeds and Leicester were two of the worst culprits, they both had around £7 million in tax debts but only repaid about 700k.

[bradowl]

2 hours ago, vulva said:

What we don’t want is a points deduction early next season after a bad start. This league is absolute badger spunk so I’d be tempted to take the hit asap as we will have enough to stay up. 

 

EFL took 7 months to decide on Birmingham's punishment, they only had a meeting last Friday about Bolton postponing there game without asking EFL with Doncaster right at start of season, and guess what? No decision has been made yet. 

 

At these meetings they must sit drinking Coffee and eating Bourbon biscuits all time without deciding owt.