EFL Statement

[SallyCinnamon]

46 minutes ago, casbahowl said:

Ok then ........ the vast majority of people to whom I speak both at home and most definitely away absolutely think this site has been allowed to turn into an agenda driven parody of itself and in no way reflects their thoughts or ideas of what it is to be a Wednesdayite .... ok?

Have you ever looked at the Facebook Wednesday fan pages or searched SWFC into twitter?

 

This site is a much more balanced and reasonable forum then what you see on those sites. 

[asteener1867]

2 minutes ago, Emerson Thome said:

Oh, and if people are planning for worst case scenarios... here's some context on how many points we would have needed to have been deducted to get relegated these past few seasons:

 

2018/19 season = 25 points

2017/18 season = 17 points

2016/17 season = 31 points

2015/16 season = 35 points

2014/15 season = 20 points

Stop giving the EFL hints FFS!

[Owl Be Back]

Just now, Nut said:

We havent been found guilty of anything. The club say they will defend this vigorously. They must think they have acted correctly. Why not wait and see how this unfolds?

 

I'm expressing my own opinion; when I read we'd done this I thought it sounded dodgy. When others have done it I've thought the same thing. Of course will wait to see how it unfolds but my opinion won't change on what I think is right or wrong about this.

[Nut]

2 minutes ago, andytrig said:

Do you honestly think we won't be?

I don't know all the facts yet so cant answer that. Us being charged means the EFL must think we havent acted properly but I just cant see how we would do this without taking lots of advice and being assured it was ok. We're not talking about a small business sneaking a dodgy receipt through their accounts and being caught out after an investigation  it's a massive transaction that was approved in our accounts by the EFL in order to lift the embargo. I just dont see it as being cut and dried that we are guilty. 

[Emerson Thome]

2 minutes ago, asteener1867 said:

Stop giving the EFL hints FFS!

Yes, I suspect the answer to this question might be... however many points it needs to get us relegated + 1 just because they can.

[Sonny]

5 minutes ago, SallyCinnamon said:

Have you ever looked at the Facebook Wednesday fan pages or searched SWFC into twitter?

 

This site is a much more balanced and reasonable forum then what you see on those sites. 

 

No but he’s shown them to some fans of other clubs.

[HIGHERSTATE]

2 minutes ago, SallyCinnamon said:

Have you ever looked at the Facebook Wednesday fan pages or searched SWFC into twitter?

 

This site is a much more balanced and reasonable forum then what you see on those sites. 

I've banned myself from looking at SWFC facebook pages. Having a discussion there is like playing monopoly with a pidgeon.

[FreshOwl]

20 minutes ago, 2roland2 said:

 

yeyyyy not heard the bedwetters comments for agessssssss

 

maybe your right ignoring all this poo from the past few years worked out pretty well so far, just ignore it and sit back and dont bed wet.  sounds like a plan.

Sorry, all I read was “wahhh wahhh wahhh” 

[casbahowl]

18 minutes ago, WalthamOwl said:

yet you can’t keep yourself away from the site. Odd. 

Check my post count against the years I’ve been here ....... can’t keep away???

[wellbeaten-the-owl]

25 minutes ago, Emerson Thome said:

Thanks for posting this link.

 

It raised a few questions for me:

 

 

It seems to be basically accepted that this practice is a way of fiddling the books. But, as the EFL's own rules have left this loophole open, and Villa and Derby have been allowed to do this ruse without any punishment, then I can't see how much of this is relevant or punishable by the EFL's own precedents....

 

e.g. When selling a property, it seems to me you are well within your rights to negotiate whatever type of repayment schedule that you want. Similarly, when selling a property, the valuation is usually the largest amount of money that you can get for it (whether overpriced or not, often people will pay over the odds if they think it will be worth more in the future).

 

Of course, this is slightly complicated when you are selling something to yourself (!), but again - I would argue that if Derby and Villa have been allowed to do this (and the £80m valuation of Pride Park is clearly taking the mick as well) then there seems to be a good case for the defence here.

 

So really, it all comes down to the question of when the sale was made and which year it should fall under in the accounts. Did Chansiri have this bright idea in time (and has he got the paperwork to prove it), or was this all cooked up many months afterwards.... I think I can hazard a guess at the answer to this, but will leave that to the lawyers and EFL to sort out.

 

Would quote that article because KM is incorrect on a few points.  Accounting for a transaction in company accounts is clearly not the same to you or I purchasing a new house.

 

Property purchases are usually accounted for on exchange of contracts not on completion, this all depends on the term of the purchase / sale agreement and if there is any chance that either the buyer or seller can get pull out on the transaction before completion.

 

The above has absolutely nothing to do with the land registry change dates.

 

It's technical accounting stuff that either he doesn't understand or chooses to ingore to continue to spout his nonsense through the media.

 

Without sight of the original purchase / sale agreement it's impossible to comment whether it's right or wrong to include in the 2018 accounts.

 

Also I'm sorry but the club is free to agree whatever payment terms it wishes for sale of an asset, nearly all player sales are settled in installments by the buyer over a few years due to size of purchase price.

 

Man Utd won't have transferred £80m to Leicester for Harry Maguire the same day he signed (or whatever the transfer fee was)

 

I'm sure if DC wanted to buy my house off me for 60 million I would be happy for it to be paid over 8 years

 

 

 

Edited November 15, 2019 by wellbeaten-the-owl

[HIGHERSTATE]

If we come out of this unscathed.  I will declare myself the emperor of bedwetters.  In fact I will p@ss the bed out of celebration.

 

I will change my name to the king of bedwetting. And will overlook the kingdom of p@ssed beds.

 

I will even run for the mayorship of wetwang(k).

 

Like this is even an issue.

[andytrig]

11 minutes ago, Nut said:

I don't know all the facts yet so cant answer that. Us being charged means the EFL must think we havent acted properly but I just cant see how we would do this without taking lots of advice and being assured it was ok. We're not talking about a small business sneaking a dodgy receipt through their accounts and being caught out after an investigation  it's a massive transaction that was approved in our accounts by the EFL in order to lift the embargo. I just dont see it as being cut and dried that we are guilty. 

I hope that you're right but how often do things like this go the way of the club?

[torres]

14 minutes ago, billyblack said:

Bet they are dashing to Staples now to stock up on Tipex

 

I hope not!

 

It's them sniffing tipex that got us into this mess in the first place!!!

[Frazzlebeak]

Don't understand why he thought he could pull this one off. No idea who's advising him but they must be thick. No way could he get away with putting the ground in last years accounts. Thought it was odd at the time but thought perhaps he was getting good financial advice and knew something i didnt.........apparently not.

[BowOwl]

13 minutes ago, billyblack said:

Thats because we spent what we couldnt afford.

But we can afford it?
That's the only thing that gets me about it all.

I've worked at several businesses now that have been loss making for years. They have to be to build up the business, and grow. Otherwise they would end up nowhere, and slowly they have all become profitable.
FFP completely stops any club being aspirational in that way. Players are assets. No different to a company wanting to update a load of machinery because it's tired . and slow. (Yes I know, ironic for us).

Clubs have proven you can do it smarter, but so far they have all come tumbling back down to square one.

Yes we have been making HUGE losses, but it's clear DC can afford it. If he couldn't then thats where FFP should be involved. If he can show his finances and say yep I can write that off, should be end of the matter. 

[WalthamOwl]

6 minutes ago, casbahowl said:

Check my post count against the years I’ve been here ....... can’t keep away???

you always seem to be lurking about. Having a go at anyone that has an opinion about the club. How dare people have a different opinion to yourself. 

[wellbeaten-the-owl]

18 minutes ago, Nut said:

I don't know all the facts yet so cant answer that. Us being charged means the EFL must think we havent acted properly but I just cant see how we would do this without taking lots of advice and being assured it was ok. We're not talking about a small business sneaking a dodgy receipt through their accounts and being caught out after an investigation  it's a massive transaction that was approved in our accounts by the EFL in order to lift the embargo. I just dont see it as being cut and dried that we are guilty. 

 

In basic terms our auditors / advisors believe the terms of the sales agreement mean that the transfer or the risk and rewards of ownership of Hillsborough took place pre 31.7.18, EFLs advisors believe the terms don't satisfy that.  

 

Difference of opinion to be argued.

Edited November 15, 2019 by wellbeaten-the-owl

[casbahowl]

1 minute ago, WalthamOwl said:

you always seem to be lurking about. Having a go at anyone that has an opinion about the club. How dare people have a different opinion to yourself. 

Only have a go at those who deserve it.......

and in your case the cap clearly fits!

[Dick_Turpin]

3 hours ago, debram said:

A descent manager and in sight of the play offs

I hope you mean decent - I'd rather not have a descent manager it implies we're on our way down.

[theowlsman]

All those years potless seeing teams promoted off the back of having wealthy owners spending loads of dosh unhindered.

 

Then we find a wealthy owner and he’s told he can’t spend his money on us.

 

Bloody typical.

 

Clubs went unpunished, but after the horse has bolted, we should pick on Sheffield Wednesday, and make an example of them instead. 

 

Please **** off EFL.