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Chansiri charged - could be banned from football

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Love the word 'vituperative'. 

 

As you were. 

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46 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.

 

I've said it before and I'll say it again, SUFC were a shambles who got out a hole because they happened to find a United fan who's emerging to be the best British manager for years, they got lucky.

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1 minute ago, DVDA said:

Love the word 'vituperative'. 

 

As you were. 

 

I just stared at myself cracking one off in the bathroom mirror saying it over and over again.

 

Every cloud....

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2 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'.

I wouldn't go as far as fans libelled him.

There has generally open and fair discussion of his and others actions.

 

Nobody is saying he's not had the club at heart but he's made some mistakes of varying levels during his time.

 

If he is accountable for this mess then he has to stand up and bite the bullet over it. Ok, nothing gone through courts, tribunals etc yet but it doesn't look too rosy at the present time.

 

And at the end of the day its fair open discussion by fans of the club at a time when we could cop for a massive hit in terms of our EFL standing. Maybe points deduction, maybe relegated as punishment who knows.

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ive been worried about chansiri`s dealings and running of the club for a long time , its the long term future of the club what worries me . if he is banned then we go to the wall as he is coving at least 15-20 million a season in losses without that money we are gone , also a lot of the incoming money has been spent for upto 5 years ie season tickets , also the club promotion in shop a few weeks ago gave away £120-£240 in vouchers to spent in 11 months time again money today problems tomorrow . all wrong and its a joke the way we have been run. what idiot or idiots have been advising chansiri? and surely if those 3 are found guilty and banned from football then surely lawyers etc who dealt with all the sale for 60 million and advisers should face been banned from doing there job . very very worrying but a few  idiots on here had a go at me 3-4 years ago for saying that we face serious problems down the line.  best we can hope for is 15 points and chansiri using another family member to continue until club is sold. if money is pulled then its a Bolton at best. 

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4 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.

 

 

OOO I can do my fave joke... How does an accountant get rid of constipation?   He works it out with a pencil. 

 

Thanks for the info hope you stick around nice to have someone well informed on the subject.  

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2 minutes ago, toppOwl said:

 

I've said it before and I'll say it again, SUFC were a shambles who got out a hole because they happened to find a United fan who's emerging to be the best British manager for years, they got lucky.

 

They propped up the club by selling off the silver, had a truly secret embargo and borrowed money off the Bin Ladens to avoid a winding up order.

 

They got very, very lucky with Wilder whether he’s a Blade or not and as much as I hate ‘em, good luck to ‘em.  Fine margins.

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4 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'.

Some of the comments on here such as fraud and fudging the accounts are an overreaction and quite frankly ridiculous and could land one or two in bother.

 

I’d urge anyone to be careful in making such comments.

 

No denying that we have been reckless in our spending and we shouldn’t have to sell the ground to maintain compliance with FFP.

 

However, it is a loophole and there’s nothing to say we can’t do it and according to the auditors it’s in the correct financial period at an appropriate value.

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3 hours ago, N0rtherner said:

 

Well, I'd rather they ban him from football than penalise the club over his alleged financial trickery. Or they need to re-open the cases of Derby, Reading, etc. and the others who used this loop hole.

Or they now state explicitly that what's done is done, anyone else using this loop hole in the future will be penalised. Going back on a "shady" practice and deciding some should be penalised but not all, that sounds just too shady too. Why is it ok Derby's stadium was worth 80 million?

 

It's not the value of the stadium that's in question, it's the fact that the sale was shoehorned into last season's accounts rather than this.

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1 minute ago, handworth52 said:

ive been worried about chansiri`s dealings and running of the club for a long time , its the long term future of the club what worries me . if he is banned then we go to the wall as he is coving at least 15-20 million a season in losses without that money we are gone , also a lot of the incoming money has been spent for upto 5 years ie season tickets , also the club promotion in shop a few weeks ago gave away £120-£240 in vouchers to spent in 11 months time again money today problems tomorrow . all wrong and its a joke the way we have been run. what idiot or idiots have been advising chansiri? and surely if those 3 are found guilty and banned from football then surely lawyers etc who dealt with all the sale for 60 million and advisers should face been banned from doing there job . very very worrying but a few  idiots on here had a go at me 3-4 years ago for saying that we face serious problems down the line.  best we can hope for is 15 points and chansiri using another family member to continue until club is sold. if money is pulled then its a Bolton at best. 

 

I tried my best but come back with some punctuation and paragraphs.

 

Very lazy.

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19 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.

Im just assuming an independent board may employ someone who is a specialist in finance to assist them. 

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4 minutes ago, Hitcat said:

 

It's not the value of the stadium that's in question, it's the fact that the sale was shoehorned into last season's accounts rather than this.

The value is also called into question, hence asking to see a proper valuation report.

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6 minutes ago, Bigger Guns said:

Some of the comments on here such as fraud and fudging the accounts are an overreaction and quite frankly ridiculous and could land one or two in bother.

 

I’d urge anyone to be careful in making such comments.

 

No denying that we have been reckless in our spending and we shouldn’t have to sell the ground to maintain compliance with FFP.

 

However, it is a loophole and there’s nothing to say we can’t do it and according to the auditors it’s in the correct financial period at an appropriate value.

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.

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13 minutes ago, toppOwl said:

 

I've said it before and I'll say it again, SUFC were a shambles who got out a hole because they happened to find a United fan who's emerging to be the best British manager for years, they got lucky.

So what, good for them.

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Being in my early twenties I can only ever remember us being shafted / in the shíte. 2/3 years of spending and actually enjoying watching Wednesday was amazing. Knew it would come to an end eventually just gutted it’s come this soon. Still be there week in week out tho.

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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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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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11 minutes ago, sonofbert2 said:

 

I tried my best but come back with some punctuation and paragraphs.

 

Very lazy

Mitre been on a crap moby. UTO.

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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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