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Chansiri charged - could be banned from football

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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. 

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22 minutes ago, wellbeaten-the-owl said:

Absolute rubbish from accounting perspective under frs102

And from an EFL perspective?

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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. 

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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.

 

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9 minutes ago, 2roland2 said:


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

Guess again 

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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 by Sonny

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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.

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4 minutes ago, hugeowl said:

Guess again 


Ok....

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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.

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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.

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

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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.

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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.

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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

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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. 

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Imagine how bad it would have been if we hadn't brought in those monks to bring us luck!!!

 

So we have to be grateful to them 

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3 minutes 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.

 

You seem very well informed do you have any actual expertise in this area? 

 

 

 

    

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2 minutes ago, The Horse said:

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.

 

 

 

Rotherham Owls will take a coach 

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Just now, Mycroft said:

 

You seem very well informed do you have any actual expertise in this area? 

 

 

 

    

I’m a chartered accountant and trained in audit.

 

As far as I’m concerned until someone makes Sheffield Wednesday restate their accounts, which the EFL cannot do, there is no case to answer.

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3 minutes 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.

You're quite right to mention defamation. Chansiri has been libelled on here by some vituperative critics who'd delight in his conviction, despite knowing nothing of the charges brought by a secretive organisation. Surely supporters of all people should give the club and chairman the benefit of the assumption of innocence. Am grateful for your analysis, 'Bigger Guns'.

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