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It doesn't seem to me like we have that much case for defence. Unless we can prove that stamp duty was paid in that accounting period, that we claim the sale relates to, we're screwed. So did we really sell the stadium in 17/18? It seems unlikely that we did, hence the charge. As expected the club will not be commenting!!!

 

With the EFL under enormous pressure (Sued by Boro) to abide by their rules, I think we're in for a torrid time and unless that proof really exists we haven't got a hope of avoiding (the harshest?) sanctions. 

 

UTO

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1 minute ago, briggowl said:

It doesn't seem to me like we have that much case for defence. Unless we can prove that stamp duty was paid in that accounting period, that we claim the sale relates to, we're screwed. So did we really sell the stadium in 17/18? It seems unlikely that we did, hence the charge. As expected the club will not be commenting!!!

 

With the EFL under enormous pressure (Sued by Boro) to abide by their rules, I think we're in for a torrid time and unless that proof really exists we haven't got a hope of avoiding (the harshest?) sanctions. 

 

UTO

 

As stated earlier when the stamp duty was paid is totally irrelevant to the date of recognition in the accounting records. 

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5 minutes ago, 1993swfc said:

We aren’t being punished for the sale of the ground. We are being punished for lying when we sold it. The rest of the teams aren’t lying about when it was sold. 

I think the big issues is the club say they sold the ground in 2018 but the company DC set up to sell it too did not even exist until 2019. 

 

Unfortunately DC, his advisors, his legal team and his accountants have royally balls up on this one. 

 

But the ones who will lose out with this once again will be the fans.

 

 

For me The EFL need to make a decision one way or the other now not June lets get what ever fine or point deduction now so we have a chance of dealing with it this season. 

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1 hour ago, victorturner said:

Unfortunately many auditors have missed failings in accounts of other companies

Agree but this is the major transaction in those accounts and would assume would have had much of the audit focus.

 

Not a question of "missed" this is a question of judgement.

 

It's not black and white and am sure can be argued either way, but it's very very murky ground to say those accounts are wrong, it's not a lower burden of proof as in forresieri EFL have to prove SWFC are wrong on how the sale was accounted for.

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1 hour ago, debram said:

Why, have you got inside information. 

Why?

 

Because he sold the ground to himself and for 60 million.

 

It's blatantly underhand, shady, bending the rules or whatever you want to call it.

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5 minutes ago, wellbeaten-the-owl said:

Agree but this is the major transaction in those accounts and would assume would have had much of the audit focus.

 

Not a question of "missed" this is a question of judgement.

 

It's not black and white and am sure can be argued either way, but it's very very murky ground to say those accounts are wrong, it's not a lower burden of proof as in forresieri EFL have to prove SWFC are wrong on how the sale was accounted for.

Need to remember EFL cannot dictate how SWFC put their accounts together.

 

If swfc can demonstrate they are prepared in accordance with accounting standards and show true and fair view then whilst EFL may not be happy about it I can't see how they have a case to sanction them

Edited by wellbeaten-the-owl
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5 minutes ago, casbahowl said:

Mate it’s why this site is now held in such utter contempt by people who actually support the club.

Utterly ridiculous to still be under the guise as a Wednesday fans forum!

 

But you're posting on here. Guilty pleasure? 

 

lol

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7 minutes ago, wellbeaten-the-owl said:

Need to remember EFL cannot dictate how SWFC put their accounts together.

 

If swfc can demonstrate they are prepared in accordance with accounting standards and show true and fair view then whilst EFL may not be happy about it I can't see how they have a case to sanction them


because they can? There’s no legal ground to follow. We’ve been charged - they’re not going back on it, case closed 

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14 hours ago, OwlLuke said:

My only hope is that Wednesday have a good team of lawyers who wouldn't have allowed this unless it was done by the book.

 

Based on what I've read however, this looks dodgy as hell and if we do get a points deduction, embargo or worse, Chansiri has to go.

 You'd like to think that the clubs lawyers would have looked at everything closely before signing it all off. Can't see anything happening quickly. Took them a year to sort out Forestieri then no doubt we'll appeal. Took year's for them to sort out QPR and they ended up paying a fraction of the fine.

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11 minutes ago, casbahowl said:

Mate it’s why this site is now held in such utter contempt by people who actually support the club.

Utterly ridiculous to still be under the guise as a Wednesday fans forum!

 

So are you saying that you think most of the posters on here aren’t Wednesday fans?

 

Obviously everyone’s entitled to their own opinion but that seems like a bit of an extreme reaction just because you disagree with some people.

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18 minutes ago, casbahowl said:

Mate it’s why this site is now held in such utter contempt by people who actually support the club.

Utterly ridiculous to still be under the guise as a Wednesday fans forum!

Well I actually support the club ( for over 50 years ) and I do not hold this site in utter contempt. 

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12 minutes ago, darra said:

 You'd like to think that the clubs lawyers would have looked at everything closely before signing it all off. Can't see anything happening quickly. Took them a year to sort out Forestieri then no doubt we'll appeal. Took year's for them to sort out QPR and they ended up paying a fraction of the fine.

Thats it then. drag it out all season, get promoted to PL and they can't touch us

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