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Chansiri charged - could be banned from football


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Guest HillsboroughOwlNI
18 minutes ago, Bigger Guns said:

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.

Also an accountant, and agree with all your comments on the financials. 

 

From a football point of view though, the EFL are so far up their own backsides that the real world doesn’t matter to them. Remember Forestieri’s ban, despite having been cleared in a criminal court? 

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Guest Willow Owl
2 hours 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.

Great informative post. However the resident Owlstalk mafia will Know better. Cannot be bothered to read all previous pages, but can imagine the doom and gloom Chansiri haters will have been out in force and we will be better off without Him. 
Be warned, be careful what you wish for. 
Dave Allen ( awaits visit from his minders), Azerbaijan goon (lucky escape),Dave Richards( spend banks money then jump ship), Geoff Sheard ( no comment) all charlatans without a pot to P—s in. At least Chansiri is investing his own money and currently servicing our debt. 

 

 

 

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6 minutes ago, Willow Owl said:

Great informative post. However the resident Owlstalk mafia will Know better. Cannot be bothered to read all previous pages, but can imagine the doom and gloom Chansiri haters will have been out in force and we will be better off without Him. 
Be warned, be careful what you wish for. 
Dave Allen ( awaits visit from his minders), Azerbaijan goon (lucky escape),Dave Richards( spend banks money then jump ship), Geoff Sheard ( no comment) all charlatans without a pot to P—s in. At least Chansiri is investing his own money and currently servicing our debt. 

 

 

 

Well i feel much better now.

 

I look forward to the club receiving no sanctions whatsoever as it appears we are squeeky clean. We dont have a case to answer apparently. Job done.

 

Who knows, we may get 5 million compensation for our trouble.

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25 minutes ago, Bigger Guns said:

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.

The EFL have looked at whatever documents they’ve looked at and decided there is a case to answer. If it was as clear cut as some one here say why on earth would there be a hearing? Wednesday may be able to refute it - let’s hope so - but we don’t know that.

 

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9 minutes ago, HillsboroughOwlNI said:

Also an accountant, and agree with all your comments on the financials. 

 

From a football point of view though, the EFL are so far up their own backsides that the real world doesn’t matter to them. Remember Forestieri’s ban, despite having been cleared in a criminal court? 

Yes I remember that, but I think it’s a completely different situation.

 

Suspending someone for a few games is not going to dramatically change the outcome of a season. 
 

Docking points where there are no grounds for doing so brings the integrity of the competition in to question.
 

Like I said previously this could all get very ugly for the EFL if we are not made to change our accounts.

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16 minutes ago, HillsboroughOwlNI said:

Also an accountant, and agree with all your comments on the financials. 

 

From a football point of view though, the EFL are so far up their own backsides that the real world doesn’t matter to them. Remember Forestieri’s ban, despite having been cleared in a criminal court? 

 

Did you see my accountant joke?  Really funny, I don't mind repeating it.

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I’m no lover of Chansiri, but the article smacks of sensationalism.

 

Some creative accounting, gone wrong.

 

A ban? Restrict the bloke from plying his trade? Effectively, deny him from keeping his investment and goods.

 

And, if banned, who will compensate him and take over the running of the Club? The EFL? Will they deal with the Administration - and leave them selves open to litigation, from the Chairman, for his losses? 
 

Personally, I can’t see any way he will be banned, it has too many legal implications.

 

Notwithstanding that the original transaction must have been vetted and signed by people with professional “chartered” qualifications.

 

I think it’s bull, personally.

Edited by ReadingOwl
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1 minute ago, ReadingOwl said:

I’m no lover of Chansiri, but the article smacks of sensationalism.

 

Some creative accounting, gone wrong.

 

A ban? Restrict the bloke from plying his trade? Effectively, deny him from keeping his investment and goods.

 

And, if banned, who will compensate him and take over the running of the Club? The EFL? Will they deal with the Administration - and leave the self open to litigation from the Chairman for his losses? 
 

Personally, I can’t see any way he will be banned, it has too many legal implications.

 

Notwithstanding that the original transaction must have been vetted and signed by people with professional “chartered” qualifications.

 

I think it’s bull, personally.

His trade is fish

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31 minutes ago, billyblack said:

So the EFL are charging people for no reason whatsever then. Sounds like a good use of time. 

 

Or is there perhaps a case to answer after all.

 

Or maybe the EFL are using this to show they are using due diligence in checking the stadium sale, to use as a defence if Middlesbrough try suing them over the Derby stadium sale ?

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53 minutes ago, Drones club said:

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'.

Maybe the EFL will be forced to award us extra points for hurt feelings! Just imagine it, getting promoted on the basis of being wrongly accused. Bladesmad meltdown! I call upon the Gods of football to make this happen! WTF:

 

And whilst you are at it; suck a fart out of my arse Gibson 

Edited by airborne_rat_of_s6
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Guest Willow Owl
28 minutes ago, billyblack said:

Well i feel much better now.

 

I look forward to the club receiving no sanctions whatsoever as it appears we are squeeky clean. We dont have a case to answer apparently. Job done.

 

Who knows, we may get 5 million compensation for our trouble.

Schoolboy answer. I never said we wouldn’t receive sanctions, just cannot be bothered with all the club bashing.

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22 minutes ago, Bigger Guns said:

Like I said previously this could all get very ugly for the EFL if we are not made to change our accounts.


I agree. Regardless of the Chairman’s naivety, the EFL aren’t covering themselves in glory.

 

A Club like Wednesday, with its history, local culture and national status, effectively closed down because its current Chairman is banned?

 

That would be a big call by the EFL.

 

Not a chance.
 

 

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While I am concerned about the potential of a points deduction, talk of banning Chansiri from football seems far fetched to me. The articles above are mainly just rehashed stories from third-hand journalists rather than investigative journalists. Plus English football has basically opened its doors to all any any overseas investment, no questions asked. There are very few restrictions or rules and the amounts of money spent are eye-watering.

 

Predatory US Venture Capitalism with huge debts? Dodgy Middle Eastern dictator? Shady Russian oligarch? Roll up, roll up, and come right in...

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