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Chansiri charged - could be banned from football

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Standard sensationalism. Media become aware of personal charges and then state the highest available punishment and you f*ckers go in to meltdown. Nothing has changed from 3/4 weeks ago

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The time to act was after the Huddersfield play off defeat.

 

Regardless of who was manager he should have released a statement saying we had gambled big time for two seasons but it hadn`t worked.

 

We have accepted bids for Reach and Forestieri that total £22 M and whilst it is disappointing to lose players of this calibre it is a fact of life for clubs in the championship and the money we receive will ensure that we can still compete in this division without embargoes or point deductions.

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3 minutes ago, Ash76 said:

Standard sensationalism. Media become aware of personal charges and then state the highest available punishment and you f*ckers go in to meltdown. Nothing has changed from 3/4 weeks ago

 

All is fine and dandy in the Wednesday garden. 

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50 minutes ago, rickygoo said:

If it was then that's a problem

 


From Times  15 Nov 2019

"In the accounts filed by the club to Companies House for the period ending July 31, 2018, the “profit on disposal of stadium” is stated to be £38,061,000. However, documents filed with the Land Registry say that the transaction for the purchase of Hillsborough, by a company owned solely by the Wednesday chairman and owner, Dejphon Chansiri, took place only five months ago. The document says: “The price stated to have been paid on 28 June 2019 for the land in this title was £60million exclusive of VAT. Indeed the company that made the purchase, Sheffield 3 Limited, was not incorporated until June 21 this year. The one listed officer of Sheffield 3 Ltd is Thai millionaire Chansiri."

 

If these dates are accurate, we are going to get the book thrown at us.

 

How can you even begin to defend something like the above.

 

We all pretty much know he’s tried to back date the transaction but to backdate it to a company that didn’t even exist in the previous financial year...ridiculous 

 

I think it’s nailed on he will get banned from football activities. And we’ll get a hefty points deduction, hopefully not enough to relegate us.

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4 minutes ago, Animis said:

 

And all that is seemingly fine in accountancy rules. Whether the EFL say it's pushing the spirit of the EFL 'rules' too far is the question. 

If it's the case that the sale was all sorted - and with it FFP then my issue is why he didn't tell us this when he was trying to push Club 1867 memberships which he said would help avert the imminent FFP problems.

 

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3 minutes ago, Box_Man said:

 

If these dates are accurate, we are going to get the book thrown at us.

 

How can you even begin to defend something like the above.

 

We all pretty much know he’s tried to back date the transaction but to backdate it to a company that didn’t even exist in the previous financial year...ridiculous 

 

I think it’s nailed on he will get banned from football activities. And we’ll get a hefty points deduction, hopefully not enough to relegate us.

 

It may be the audit trail of the contracts, decisions to sell etc mean in accounting terms it's actually all fine.  

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You just know DC is going to rub up the EFL/independent panel the wrong way too.

 

Get ready - we're going to get the book thrown at us.

 

And it's all our own doing too.

 

100%, nailed on, typical Wednesday.

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13 minutes ago, sheriwozgod said:

The time to act was after the Huddersfield play off defeat.

 

Regardless of who was manager he should have released a statement saying we had gambled big time for two seasons but it hadn`t worked.

 

We have accepted bids for Reach and Forestieri that total £22 M and whilst it is disappointing to lose players of this calibre it is a fact of life for clubs in the championship and the money we receive will ensure that we can still compete in this division without embargoes or point deductions.

 

A lot of fans would have been complaining that club is showing no ambition. 

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4 minutes ago, rickygoo said:

 

It may be the audit trail of the contracts, decisions to sell etc mean in accounting terms it's actually all fine.  

 

How can you have an audit trail that leads back to a company that never existed?

 

Its clear what he’s tried to do, unfortunately for us, he did it too late and this big cover up to try and back date it screams of dodgy practices. 

 

He’s been charged so the EFL know they have a case. If we are still in the championship next season it will be a miracle. 

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1 minute ago, bradowl said:

 

A lot of fans would have been complaining that club is showing no ambition. 

 

I 100% agree.
But running a club or any organisation your priority is viability and financial well being rather than your own ego.

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9 minutes ago, rickygoo said:

If it's the case that the sale was all sorted - and with it FFP then my issue is why he didn't tell us this when he was trying to push Club 1867 memberships which he said would help avert the imminent FFP problems.

 

 

You're assuming he has a plan. My view is he's struggled to understand the English culture and 'red tape' restrictions. His advisors seem to be limited to agents who push players' contracts. He doesn't appear to have anyone who liaises with the authorities, but I may be wrong. I think he probably separates the club sailing close to the wind on financial matters, with trying to get the fans to contribute. After all it's his club and he's invested probably not far off £100m over his tenure. He probably thinks this is enough evidence of his commitment.

 

I think the two are separate but are more linked, morally and emotionally than he thinks. Fans aren't blind or stupid and they will clearly scrutinize every move and action he makes as sole owner, and sole Director of the club. Being out of the country for large periods of the year doesn't help in all this. He needs a competent and experienced UK-based management team dealing with day-to-day matters and strategy.

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The main thing to question is Dcs business acumen. 

It's not just his lack of football knowledge and the inner workings. 

 

If a business is struggling to meet its costs you find way to cut them, you trim the wage bill and amount of staff on the payroll. You maybe sell some assets to cover costs in the short run. 

I'm not qualified in business, but it's just common sense. 

As normal working class guys if you have a week off unpaid and your not flush, you cut down on outgoings till your back in a better financial situation. 

This whole mess could have been solved by selling a few players when their stock was high, but we didn't. 

He then backed himself into a corner and sold the ground to get out of it, but couldn't even do that right by the sounds of it. 

There's an old saying "you reap what you sow" and at the moment it's looking like he's sowed himself into an even bigger potential mess. 

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17 minutes ago, bradowl said:

 

A lot of fans would have been complaining that club is showing no ambition. 

So

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26 minutes ago, Box_Man said:

 

If these dates are accurate, we are going to get the book thrown at us.

 

How can you even begin to defend something like the above.

 

We all pretty much know he’s tried to back date the transaction but to backdate it to a company that didn’t even exist in the previous financial year...ridiculous 

 

I think it’s nailed on he will get banned from football activities. And we’ll get a hefty points deduction, hopefully not enough to relegate us.

 

Its blatantly obvious what has happened.  I'd love to be a fly on the wall when DC is asked to explain how he sold the ground to a company that didn't yet exist. 

 

Its staggering ., it really is .this goes way and beyond just breaching FFP limits .

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7 minutes ago, shezzas left peg said:

The main thing to question is Dcs business acumen. 

It's not just his lack of football knowledge and the inner workings. 

 

If a business is struggling to meet its costs you find way to cut them, you trim the wage bill and amount of staff on the payroll. You maybe sell some assets to cover costs in the short run. 

I'm not qualified in business, but it's just common sense. 

As normal working class guys if you have a week off unpaid and your not flush, you cut down on outgoings till your back in a better financial situation. 

This whole mess could have been solved by selling a few players when their stock was high, but we didn't. 

He then backed himself into a corner and sold the ground to get out of it, but couldn't even do that right by the sounds of it. 

There's an old saying "you reap what you sow" and at the moment it's looking like he's sowed himself into an even bigger potential mess. 

Another saying for DC, pride before a fall.

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9 minutes ago, Animis said:

 

You're assuming he has a plan. My view is he's struggled to understand the English culture and 'red tape' restrictions. His advisors seem to be limited to agents who push players' contracts. He doesn't appear to have anyone who liaises with the authorities, but I may be wrong. I think he probably separates the club sailing close to the wind on financial matters, with trying to get the fans to contribute. After all it's his club and he's invested probably not far off £100m over his tenure. He probably thinks this is enough evidence of his commitment.

 

I think the two are separate but are more linked, morally and emotionally than he thinks. Fans aren't blind or stupid and they will clearly scrutinize every move and action he makes as sole owner, and sole Director of the club. Being out of the country for large periods of the year doesn't help in all this. He needs a competent and experienced UK-based management team dealing with day-to-day matters and strategy.

Or a board of directors for instance maybe.

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16 minutes ago, Box_Man said:

 

How can you have an audit trail that leads back to a company that never existed?

 

Its clear what he’s tried to do, unfortunately for us, he did it too late and this big cover up to try and back date it screams of dodgy practices. 

 

He’s been charged so the EFL know they have a case. If we are still in the championship next season it will be a miracle. 

The deal may have been in place and an agreement sorted it's just that the actual vehicle through which the ultimate deal would be done hadn't been set up. Presumably whatever explanation was given Wednesday's auditors were happy.

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I've a question for the legal boffins on here. 

If there's as people are claiming discrepansies in the accounts due to the ground sale and tax period mentioned. 

Does that mean if that due to the EFL case if the inland revenue look into the accounts there's a possibility of being hammer by the tax office too?? 

And would that just be Dc? 

Or the club as well?? 

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19 minutes ago, Box_Man said:

 

How can you have an audit trail that leads back to a company that never existed?

 

Its clear what he’s tried to do, unfortunately for us, he did it too late and this big cover up to try and back date it screams of dodgy practices. 

 

He’s been charged so the EFL know they have a case. If we are still in the championship next season it will be a miracle. 

Why would he need an extension to file accounts if all this stuff was done 12 months earlier? He wouldnt. It was all done last minute, on top of that he actually missed the extension deadline as well.

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10 minutes ago, Box_Man said:

 

How can you have an audit trail that leads back to a company that never existed?

 

Its clear what he’s tried to do, unfortunately for us, he did it too late and this big cover up to try and back date it screams of dodgy practices. 

 

He’s been charged so the EFL know they have a case. If we are still in the championship next season it will be a miracle. 

 

We don't know that yet - he hasn't tried to hide anything, as it was all in the accounts; accounts which were signed off and in line with accountancy practice and rules.

 

If the EFL think it's all pushing the boundaries too much - but how much is too much? They may just be going through the motions to warn any club of this type of behavior in future.

 

At present I'm struggling to see what rules we've actually broken.

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