Chansiri charged - could be banned from football

[sonofbert2]

1 minute ago, ChapSmurf said:

 

I am sure I read it somewhere, but I can't think where. All I can remember is that his son has/had something in his name and I thought it was the club.

 

I could be way off the mark though and have this horribly wrong.

 

He sponsors the North Stand .

[Bigger Guns]

9 minutes ago, Kameron said:

 

Not as simple as that, no money has changed hands

 

For it to be a sale actual money needs to have been exchanged and relevant taxes paid. Obviously Chansiri will be able to provide proof and the EFL will drop everything once this misunderstanding has been cleared up. 

That’s not correct. Accounts are prepared on an accruals basis not a cash basis, that’s why there are debtors and creditors on a balance sheet.

 

For a sale to be recognised all Chansiri has to do is prove that the risks and rewards of ownership have transferred from Sheffield Wednesday to Chansiri i.e. by having a legally binding contract of sale in place at the year end. 
 

It is irrelevant when the cash is transferred, when land registry was updated and whether Sheffield 3 was even incorporated.

 

On the latter point Sheffield 3 could be unincorporated at the date of sale but still be in existence and nobody can prove otherwise. Regardless, Chansiri as owner of Sheffield 3 just needs a contract in place that he is going to purchase the stadium.
 

That information won’t be in the public domain but if it exists (and I presume it does otherwise the auditors wouldn’t have signed off the accounts) then the EFL haven’t got a leg to stand on.

 

The EFL does not have the power to make Sheffield Wednesday restate their accounts. They aren’t accounting experts and their powers start and end with the audited pre tax profits.

[ChapSmurf]

2 minutes ago, ChapSmurf said:

 

I am sure I read it somewhere, but I can't think where. All I can remember is that his son has/had something in his name and I thought it was the club.

 

I could be way off the mark though and have this horribly wrong.

 

It looks like I have it wrong - https://www.swfc.co.uk/club/company-details/

 

[sherlyegg]

I always wondered why Kat left, looking like we know now. Though not sure whose side she was on...

[ChapSmurf]

1 minute ago, sonofbert2 said:

 

He sponsors the North Stand .

 

That's it. I knew I'd seen his name somewhere

[steelcityowlsfan]

6 minutes ago, torres said:

 

Fiiiiiiiiiive year season tix

4 spent players

3 dodgy kits

2 bronze elephants

And an enormous giant swing

Or side B

[Sonny]

34 minutes ago, Mycroft said:

 

Can we bribe this independant body or entrap them in compromising positions, get a few of the good looking posters to entrap them, Rickygoo for starters.  I'm sure that he would take one for the good of the club.

 

I think we should double down and bribe them. Why the hell not. Nobody was complaining when we weren't bribing folk so they can’t start now.

[Weshallovercome]

The MM throw' up didn't go well...... heads an Azerbaijan despot who gets imprisoned and his bank accounts frozen, tails a tuna magnate's son who thought he had a good idea.

 

It really could only happen to us.

 

 

Edited December 3, 2019 by Weshallovercome

[Drones club]

42 minutes ago, OxonOwl said:

My take on this.

 

The accountants who have put together our accounts have their reputations and their livelihoods at stake so I don't believe there will be anything vastly untoward in the accounts that were submitted to HMRC and Companies House. That is nothing illegal has occurred.

 

The club must think they have found a plausible interpretation of the EFL's P&S rules such they can present the accounts showing that we have not breached the P&S limits. They clearly believe they can defend this interpretation.

 

The EFL obviously believe we have not adhered to their interpretation or the intentions of the rules and that we are in breach of the limits..

 

An independent body will adjudicate

Meanwhile, a rush to condemn Chansiri that would make a lynch mob blush should stop. There are posts on here that treat him with such venom that some appear to relish the EFL's action. 

[sonofbert2]

1 minute ago, Weshallovercome said:

The MM throw up didn't go well...... heads an Azerbaijan despot who gets imprisoned and his bank accounts frozen, tails a tuna magnate's son who thought he had a good idea.

 

It really could only happen to us.

 

 

 

Recommends Doyen/Paixao to advise on the the playing side as part of a 3 year package for promotion and wait for it..................

 

The man who will get you round the rules based on what Leicester did...............

 

The one and only...............

 

SIR DAVE RICHARDS

 

If I could make a Scooby Doo/Pesky Kids gif I would.

 

Seriously though, we went close and are only in the same sick game as everyone else that is modern football.

[ChapSmurf]

3 minutes ago, sonofbert2 said:

 

Recommends Doyen/Paixao to advise on the the playing side as part of a 3 year package for promotion and wait for it..................

 

The man who will get you round the rules based on what Leicester did...............

 

The one and only...............

 

SIR DAVE RICHARDS

 

If I could make a Scooby Doo/Pesky Kids gif I would.

 

Seriously though, we went close and are only in the same sick game as everyone else that is modern football.

 

[Shezza]

Clubs with supporters who continuously chant racist abuse at players have to play a match or two without supporters in their stadium. 
 

Owner gets thrown out of football for spending his own money and club is deducted fifteen points for it.
 

Fair. 

[Weshallovercome]

1 minute ago, sonofbert2 said:

 

Recommends Doyen/Paixao to advise on the the playing side as part of a 3 year package for promotion and wait for it..................

 

The man who will get you round the rules based on what Leicester did...............

 

The one and only...............

 

SIR DAVE RICHARDS

 

If I could make a Scooby Doo/Pesky Kids gif I would.

 

Seriously though, we went close and are only in the same sick game as everyone else that is modern football.

 

 

Dave Richards adviced DC?.........really?........corblimey

 

You're right about modern football, guess we all miss the 'good old days'......luckily we might just be going back to them sooner than we probably wanted to, but hey ho......I like L1.

[Nut]

12 minutes ago, Bigger Guns said:

That’s not correct. Accounts are prepared on an accruals basis not a cash basis, that’s why there are debtors and creditors on a balance sheet.

 

For a sale to be recognised all Chansiri has to do is prove that the risks and rewards of ownership have transferred from Sheffield Wednesday to Chansiri i.e. by having a legally binding contract of sale in place at the year end. 
 

It is irrelevant when the cash is transferred, when land registry was updated and whether Sheffield 3 was even incorporated.

 

On the latter point Sheffield 3 could be unincorporated at the date of sale but still be in existence and nobody can prove otherwise. Regardless, Chansiri as owner of Sheffield 3 just needs a contract in place that he is going to purchase the stadium.
 

That information won’t be in the public domain but if it exists (and I presume it does otherwise the auditors wouldn’t have signed off the accounts) then the EFL haven’t got a leg to stand on.

 

The EFL does not have the power to make Sheffield Wednesday restate their accounts. They aren’t accounting experts and their powers start and end with the audited pre tax profits.

Thanks for that Biggerguns, it's well explained. That's kind of what I am hoping has happened. My worry is that we've done things correctly but still get punished by the EFL under some ambiguous technicality. 

[Guest Kameron]

13 minutes ago, Bigger Guns said:

That’s not correct. Accounts are prepared on an accruals basis not a cash basis, that’s why there are debtors and creditors on a balance sheet.

 

For a sale to be recognised all Chansiri has to do is prove that the risks and rewards of ownership have transferred from Sheffield Wednesday to Chansiri i.e. by having a legally binding contract of sale in place at the year end. 
 

It is irrelevant when the cash is transferred, when land registry was updated and whether Sheffield 3 was even incorporated.

 

On the latter point Sheffield 3 could be unincorporated at the date of sale but still be in existence and nobody can prove otherwise. Regardless, Chansiri as owner of Sheffield 3 just needs a contract in place that he is going to purchase the stadium.
 

That information won’t be in the public domain but if it exists (and I presume it does otherwise the auditors wouldn’t have signed off the accounts) then the EFL haven’t got a leg to stand on.

 

The EFL does not have the power to make Sheffield Wednesday restate their accounts. They aren’t accounting experts and their powers start and end with the audited pre tax profits.

 

It's correct in terms of what the EFL are looking for, the revenues generated from the stadium sale cannot be backdated to be included into a year of your choice.  They'll be looking for solid proof, hopefully Chansiri can supply it.

[sonofbert2]

4 minutes ago, Nut said:

Thanks for that Biggerguns, it's well explained. That's kind of what I am hoping has happened. My worry is that we've done things correctly but still get punished by the EFL under some ambiguous technicality. 

 

They sent the contract by fax on the same dodgy machine again.

 

Be reyt.

[billyblack]

I cant wait to hear Katriens view at the hearing

[sonofbert2]

1 minute ago, billyblack said:

I cant wait to view Katrien  at the hearing

 

Edited December 3, 2019 by sonofbert2

[Guest Kameron]

30 minutes ago, sweetsheri said:

Factually incorrect

Money doesn't need to have changed hands for a sale to be declared. You can agree a sale and payment details at a future date

or structured.

For tax purposes yes but to get round EFL rules no, I can't be arsed to post it all again but the information is there on companies house, the land registry and published accounts, there is a massive difference in how Derby and us/Villa have gone about this.  Villa will be in the poo too should they be relegated. You can agree a sale and payment details at a future date but if the EFL deem is was done to get round FFP they can issue sanctions. 

[Inspector Lestrade]

1 minute ago, billyblack said:

I cant wait to hear Katriens view at the hearing

 

Does she have to attend?