Chansiri charged - could be banned from football

[bigdan2003]

I do find it laughable that the EFL like to keep things quiet when it suits. 
 

The embargo’s for example - they don’t like to publicise those for some reason. But in this case, they can’t wait to sing like birds to the media. 
 

 

 

[sweetsheri]

Who will support " The Wednesday" est 2020

[wellbeaten-the-owl]

11 minutes ago, BingleyOwl said:

 

Who cares about the money? Look at Sheff U. They’ve done loads with very little. We’ve done very little with loads. The business plan stinks. I’d take a less wealthy owner who promotes the Club properly.

DC will care about the money just saying not that simple to just get another owner and n.

 

Like it or not the guy has blown over £60m of his own cash in trying to compete in the league.

[Bigger Guns]

1 hour ago, Kameron said:

 

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.

The EFL start with audited pre tax profit. The cash doesn’t have to be transferred for the sale to be included in the pre tax profit. Like I said so long as there is a legally binding contract as at the end of the 2018 accounts then it is correct to be included in the 2018 accounts.

 

I would be staggered (being an ex auditor) if the auditors signed off the accounts without sufficient proof of sale being provided. If it turns out to be wrong then the auditors are finished because this will be massively in the spotlight.

 

But, as I mentioned before the EFL do not have the powers to make us restate accounts. That is way above their powers and there is nothing to suggest that the regulatory bodies that could make us restate are involved at this stage.

[Dick_Turpin]

49 minutes ago, hugeowl said:

Selling Hillsborough?

Has Chansiri sold it again ?

 

colossal losses , wonder who will fund the losses

 

the rest is just pure conjecture 

 

 

He sold Hillsborough. He caused the colossal losses and the embargoes. None of us wished for that but we got it. The rest as you say we’ll see. 

[Dick_Turpin]

24 minutes ago, Animis said:

 

Again - there's absolutely nothing news in these articles, which wasn't reported three weeks ago.

 

Like this thread, just going over old news.

Was it reported before that the three directors were personally charged with misconduct? 

[Bigger Guns]

1 hour 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. 

If you see my response to Kameron, there is no evidence that any regulatory body is involved at this stage that has the powers to make us restate the accounts.

 

If that remains the case, our defence should be water tight. 

[Guest Kameron]

22 minutes ago, wellbeaten-the-owl said:

Absolute rubbish from accounting perspective under frs102

And from an EFL perspective?

[Dick_Turpin]

24 minutes ago, oz_owl said:

 

He sold the ground back to himself.  And not really for his own benefit.

It’s a handy offset against what the club owes him though - whether that was his intent or not. 

[Guest Bulgaria]

5 minutes ago, wellbeaten-the-owl said:

DC will care about the money just saying not that simple to just get another owner and n.

 

Like it or not the guy has blown over £60m of his own cash in trying to compete in the league.

Let's get this reyt.

 

He has blown 60 mill in trying to get into a league which would make him lots of money, not me, not you, him.

 

His gamble has failed.  Clubs compete in this league without blowing 60 mill.

 

[Mike Hunt]

9 minutes ago, 2roland2 said:

no he doesn’t it’s a write off against his loans ( at a guess )

Guess again 

[Sonny]

17 minutes ago, oz_owl said:

 

The club owned the ground, and he owns the club.  He's created a new company that he owns and sold the ground from one company he owns to another company he owns.  So he still owns the ground.  True that he can now more easily sell either in separation from the other, but he always could have done that if he chose to, and not in a manner that is clearly designed to exploit a financial loophole (which he wouldn't need to do at all if he was doing it for his own personal benefit).

 

Yes he still owns the ground but the club no longer does. If he goes the ground goes with him, as things stand. 

 

This is not necessarily a bad situation but it absolutely definitely could be.

Edited December 3, 2019 by Sonny

[Bigger Guns]

4 minutes ago, Kameron said:

And from an EFL perspective?

Same perspective. The EFL start with audited pre tax profits prepared on an FRS 102 basis.

[sonofbert2]

6 minutes ago, Bulgaria said:

Let's get this reyt.

 

He has blown 60 mill in trying to get into a league which would make him lots of money, not me, not you, him.

 

His gamble has failed.  Clubs compete in this league without blowing 60 mill.

 

 

Not many though.

[Guest Kameron]

7 minutes ago, Bigger Guns said:

Same perspective. The EFL start with audited pre tax profits prepared on an FRS 102 basis.

and should new information become available to them they can and will take action.

[Frazzlebeak]

All this reminds me of Spike Milligan and his spoof game show "Lose Your Furniture" Anyone under 45 might not remember this 

[Bigger Guns]

Just now, Kameron said:

and should new information become available to them they can and will take action.

Not if we aren’t made to restate our accounts.

 

Could you imagine in court the EFL trying to argue they know more than a professional firm of auditors. 
 

They would get laughed out of court and it could turn ugly for the EFL because what they are accusing us of is defamatory.

 

Would not be surprised if nothing comes of this and we sue the EFL.

[Guest The Horse]

We'll get booted out of the football league, what's left of us having to play in Concord Park, Hillsborough will be found to be the main source of blame in the ongoing disaster hearings, Chansiri forced to sell the ground with all proceeds going to the Scousers and all our honours erased from the history books.

FF lifetime global ban.

[Glenn59]

1 minute ago, Bigger Guns said:

Not if we aren’t made to restate our accounts.

 

Could you imagine in court the EFL trying to argue they know more than a professional firm of auditors. 
 

They would get laughed out of court and it could turn ugly for the EFL because what they are accusing us of is defamatory.

 

Would not be surprised if nothing comes of this and we sue the EFL.

isn't there the issue that we are under EFL rules and not normal UK law. This seemed the case with Fessi's racism case.

 

Thought the issue might be we are a member of EFL and bound by THEIR rules?

 

Not having a pop at you, just pondering what rule book this matter comes under

[poite]

I'm sure old DC will have a bullet proof method of getting out of this mess.

 

It's worked brilliantly with everything else he's done so far.