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27 minutes ago, Dexter Morgan said:


Oh yeah never thought of it like that, he could cook the books couldn’t he and never actually transfer any money, I get it now, it was slightly confusing but I expect that’s why he’s got us in the poo over it 

 

No, we are in the EFL bad books because of how we have structured the sale to navigate our way around the P&S rules. 

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13 hours ago, Minton said:

 

Our 2 highest finishes since premier league relegation, a play off final and a play off semi final would argue that the standards were higher.

 

And in 2 months time, if we get a points deduction, we could be relegated to League One.

 

What's that about higher standards?

 

That questionnaire from Spring 2018 was a big faux-pas.  I think even t'old DC himself would admit that was a mistake.

 

13 hours ago, Inspector Lestrade said:

 

Depends how you define it I suppose, was it defined?  And alluded seems a little spurious you can make it say whatever you wish. 

 

 I wish we could charge £15 - £20 a game and maybe we can, but it would lessen our chances of promotion.  

 

That will be DC's line next season when we're hosting league games against the likes of Shrewsbury, Fleetwood, Crewe & Accrington.

 

You've inadvertently come up with some future Chansiri PR gold there.  Congratulations.

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3 hours ago, Dexter Morgan said:


Oh yeah never thought of it like that, he could cook the books couldn’t he and never actually transfer any money, I get it now, it was slightly confusing but I expect that’s why he’s got us in the poo over it 

 

I dont think there is any book cooking, but it's a bit difficult to pin the 60 million down, as no idea how it works when you essentially sell something to yourself.

 

Does the 60 million actually move anywhere ?

 

God knows. 

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46 minutes ago, Westfield Owl said:

 

That will be DC's line next season when we're hosting league games against the likes of Shrewsbury, Fleetwood, Crewe & Accrington.

 

None of the current lot has the ability or bottle to take the above on.
 

I certainly wouldn't bet on us winning.

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6 hours ago, Ozymandias Owl said:

The Paxo Group have to get Wickham fit for another transfer, that's my guess. 

 

That's why Windass doesn't start, he's already match fit. 

 

The whole thing is rotten to the core. 

 

Is Wickham linked to Doyen, then?

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5 hours ago, Mr Farrell said:

 

Depends if he's paid us the 60 million he owes us for it.

 

It hard to find the 60 million as not sure which years accounts it's in.

It is in the July 18 accounts - within the debtors note. 

 

This will in fact be shown as due from Sheffield 5 Limited - the company that I believe bought the stadium.

 

But let's not forget DC is owed about the same from the funding of the Clubs losses. So he could play musical chairs with the loans to clear them or indeed simply write them off. Perfectly legit - an option for one of my clients fairly soon post a forthcoming re-structure 

 

He might just pay down that debt as the route to fund the Club 

 

 

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2 hours ago, Mr Farrell said:

 

I dont think there is any book cooking, but it's a bit difficult to pin the 60 million down, as no idea how it works when you essentially sell something to yourself.

 

Does the 60 million actually move anywhere ?

 

God knows. 

 

People say with some justification that, in order for Chansiri to sell the club, he would have to write off substantial losses i.e. take a "haircut". He could reduce the losses by using loans owned to him by the club to complete the purchase of the ground then simply gift the ownership of the ground to the new owner. The net result would be the same.

 

Or alternatively if he cannot sell the club or doesn't want to, he could use the staged payments on the ground sales contract to inject that money into the club as cashflow. Something he would probably have had to do anyway.

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1 hour ago, mkowl said:

It is in the July 18 accounts - within the debtors note. 

 

This will in fact be shown as due from Sheffield 5 Limited - the company that I believe bought the stadium.

 

But let's not forget DC is owed about the same from the funding of the Clubs losses. So he could play musical chairs with the loans to clear them or indeed simply write them off. Perfectly legit - an option for one of my clients fairly soon post a forthcoming re-structure 

 

He might just pay down that debt as the route to fund the Club 

 

 


How did Sheffield 5 Limited buy the stadium when that company wasn’t incorporated until 24 June 2019?

 

https://beta.companieshouse.gov.uk/company/12066053

 

Can you backdate a sale to 12 months before the buying company was incorporated?

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Posted (edited)
44 minutes ago, pat blondeau said:


How did Sheffield 5 Limited buy the stadium when that company wasn’t incorporated until 24 June 2019?

 

https://beta.companieshouse.gov.uk/company/12066053

 

Can you backdate a sale to 12 months before the buying company was incorporated?

 Think this has been covered many times by our OT accountants, sure MKOWL will explain again or you could read back through all the Ground sale topics

Edited by Striggy
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1 hour ago, pat blondeau said:


How did Sheffield 5 Limited buy the stadium when that company wasn’t incorporated until 24 June 2019?

 

https://beta.companieshouse.gov.uk/company/12066053

 

Can you backdate a sale to 12 months before the buying company was incorporated?

 

1 hour ago, Striggy said:

 Think this has been covered many times by our OT accountants, sure MKOWL will explain again or you could read back through all the Ground sale topics

To be fair, can't blame the bloke for having missed it in those many-page threads from a while back.

 

Think the long and short of it (this will be an incredibly layman's summary :biggrin:) is that it's technically OK in accounting terms. Despite what you'd intuitively think!

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Just now, StudentOwl said:

 

To be fair, can't blame the bloke for having missed it in those many-page threads from a while back.

 

Think the long and short of it (this will be an incredibly layman's summary :biggrin:) is that it's technically OK in accounting terms. Despite what you'd intuitively think!

 

:biggrin: yeah bit tongue in cheek suggesting Pat read all the numerous threads on the issue.  Accountancy is akin to sorcery so sure they cast a spell and backdated the sale, although technically they did not back date it, they accounted for it in advance.

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5 hours ago, Westfield Owl said:

 

And in 2 months time, if we get a points deduction, we could be relegated to League One.

 

What's that about higher standards?

 

That questionnaire from Spring 2018 was a big faux-pas.  I think even t'old DC himself would admit that was a mistake.

 

 

That will be DC's line next season when we're hosting league games against the likes of Shrewsbury, Fleetwood, Crewe & Accrington.

 

You've inadvertently come up with some future Chansiri PR gold there.  Congratulations.

 

How do we attract better players with a smaller  player budget? 

 

I don't get this argument that the smaller our player budget it will be better for us. 

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8 hours ago, jamiejohn said:

Still think the stoke result led to our bad run, our weak minded players let it affect them too much and it became an ongoing problem. If they have been forewarned of a deduction they should have dug in and made it less of a problem but again weak minded 

It was like when we a lost 3-1 lead in injury time at derby .. finished 3-3 .... we never recovered... and went down that season too !!!!! 😳

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I like the way Orlando handles himself as ITK.

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3 hours ago, mkowl said:

It is in the July 18 accounts - within the debtors note. 

 

This will in fact be shown as due from Sheffield 5 Limited - the company that I believe bought the stadium.

 

But let's not forget DC is owed about the same from the funding of the Clubs losses. So he could play musical chairs with the loans to clear them or indeed simply write them off. Perfectly legit - an option for one of my clients fairly soon post a forthcoming re-structure 

 

He might just pay down that debt as the route to fund the Club 

 

 

Someone on here who understands how money is moved in big businesses wonders will never cease

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10 hours ago, kingsidney said:

No ones talking about walking away. Selling up is completely different. 

 

 

Ah OK sorry i must have missed the queue of buyers lined up round the block, I just think if the vitriol & abuse both on here & other social media continues he might just think fizz it I'm off.

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Just now, kirksandallowl said:

 

 

Ah OK sorry i must have missed the queue of buyers lined up round the block, I just think if the vitriol & abuse both on here & other social media continues he might just think fizz it I'm off.


you could literally copy and paste all the above and apply it to every time a chairman has been challenged over the years

 

from Dave Allen to Chansiri it’s literally word for word the the same cliche that always gets trotted out

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4 minutes ago, kirksandallowl said:

 

 

Ah OK sorry i must have missed the queue of buyers lined up round the block, I just think if the vitriol & abuse both on here & other social media continues he might just think fizz it I'm off.

🤦🏽‍♂️ Yeah because losing 100million quid in a little tantrum is better than selling up and recouping some money. 
 

grow up ffs. 

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18 hours ago, matthefish2002 said:

I agree in someways Sheffield United got lucky with appointing Wilder.

But during his time they make sure they do they homework on potential signings.
You are never going to get everyone signing right but by doing this you make sure you keep mistakes to a minimum.

We on the other hand in the 2016/17 season signed players as they sounded good and a 'gift to the fans'

 

 

Yes,he said he looks at snips of players on you tube,then asks agents what their personalities are like.He has also signed approx. 50 players most of which have been garbage or only good for 1 season or so.

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2 hours ago, pat blondeau said:


How did Sheffield 5 Limited buy the stadium when that company wasn’t incorporated until 24 June 2019?

 

https://beta.companieshouse.gov.uk/company/12066053

 

Can you backdate a sale to 12 months before the buying company was incorporated?

In brief under company law it's possible for the person setting up a new company to agree a contract on behalf of a company they are setting up in the future.

 

Part of the condition of contact can be that company being set up will be the party completing the purchase.

 

May explain why the accounts were signed off late, the auditors may have been happy that the contract signed before 31.7.18 transferred the risks and rewards of ownership at the date of contract (hence including sale in 31.7.18 accounts) but may have wanted that term of contract (incorporation on Sheffield 5) to be completed before signing off the audit report

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