Guest Grandad Posted July 10, 2020 Share Posted July 10, 2020 This MUST be announced today? Surely? Link to comment Share on other sites More sharing options...
Ian_D Posted July 10, 2020 Share Posted July 10, 2020 stop calling me Shirley. Link to comment Share on other sites More sharing options...
bradowl Posted July 10, 2020 Share Posted July 10, 2020 1 minute ago, Grandad said: This MUST be announced today? Surely? Announcement 5pm my sauce says. My sauce is only Daddies as my preferred HP sauce is a bit expensive. Link to comment Share on other sites More sharing options...
ATBS Posted July 10, 2020 Share Posted July 10, 2020 (edited) 36 minutes ago, striker said: Probably, but only EFL think that; Auditors, HMRC don't. It was a perfectly lawful transaction. We can only be deducted points if EFL successfully argue part or all of the ground sale transaction be excluded from P&S calculations. Our defence of reasonable reliance is a strong one. Having been told we could do this, denied opportunity to take other measures which otherwise may have meant we wouldn't breach P&S limits. HMRC would not be involved unless they believed this is an avoidance of paying tax as and when it fell due The auditors will say that the accounts were prepared and produced on the information provided by the club. The issue is the ground was sold to a limited company that didnt exist at the time the club say the transaction took place. The EFL will say the club did this to avoid a points deduction. I assume( just my opinion) that the EFL will insist that the transaction is shown in the correct set of accounts ( the following year) . If the panel agrees, there will be a points deduction as the losses will be over £39mill over the rolling 3 years Edited July 10, 2020 by ATBS Link to comment Share on other sites More sharing options...
daleblue Posted July 10, 2020 Share Posted July 10, 2020 2 hours ago, latemodelchild said: Worryingly, I've woken up a bit more optimistic this morning. No idea why, but it usually means Wednesday are about to slam me in the plums. Maybe we've done some accountancy practices that aren't actually legislated for or against in the EFL rules. A loophole if you like. The EFL are wanting to punish us but our accountants who signed it off are saying we have done nothing wrong. Right at the start of all this, posters on here who I trust were saying that if the accounts had been signed off then the firm that did it must have been sure they were OK. This isn't play time, it's serious business with real world ramifications and hard won reputations on the line. Ever since I read those posts I've had a bit of hope. Independent panel or not, no firm is going to risk it because the consequences are grave. If we have had the go ahead from someone at the EFL, whether they're still there or not, then we will have a paper trail. Obviously the other side of that coin is that if it was as open and shut as how I've outlined above then would we all still be waking up to Sonny and Cher 3 weeks after it all started? Why do I get this strange feeling of deja-vu, and ground hog day. Link to comment Share on other sites More sharing options...
Orlando_Trustful Posted July 10, 2020 Share Posted July 10, 2020 3 minutes ago, ATBS said: HMRC would not be involved unless they believed this is an avoidance of paying tax as and when it fell due The auditors will say that the accounts were prepared and produced on the information provided by the club. The issue is the ground was sold to a limited company that didnt exist at the time the club say the transaction took place. The EFL will say the club did this to avoid a points deduction. I assume( just my opinion) that the EFL will insist that the transaction is shown in the correct set of accounts ( the following year) . If the panel agrees, there will be a points deduction as the losses will be over £39mill over the rolling 3 years I thought the club said in one of their press releases before that they had email correspondence from the EFL authorising the backdating of the stadium sale. Link to comment Share on other sites More sharing options...
ATBS Posted July 10, 2020 Share Posted July 10, 2020 7 minutes ago, Orlando_Trustful said: I thought the club said in one of their press releases before that they had email correspondence from the EFL authorising the backdating of the stadium sale. Not seen that press release. Even if that was the case, it would surely have to be sold to a company that existed at the time the transaction is said to have taken place. If the EFL have indeed sent an email to the club saying the sale could be backdated AND sold to a company that didnt exist at the time of the transaction, the hearing would only have lasted a few minutes 1 Link to comment Share on other sites More sharing options...
Guest Posted July 10, 2020 Share Posted July 10, 2020 Think this rolls on for a while yet Link to comment Share on other sites More sharing options...
S36 OWL Posted July 10, 2020 Share Posted July 10, 2020 I'm still trying to figure out how we explain to the hearing how we managed to sell the stadium to a company that didn't exist at the time. 2 Link to comment Share on other sites More sharing options...
S26 Owl Posted July 10, 2020 Share Posted July 10, 2020 Decision today. 21 points, 9 suspended incase we mess up again. My prediction Link to comment Share on other sites More sharing options...
Guest Ferkorf Posted July 10, 2020 Share Posted July 10, 2020 2 minutes ago, S36 OWL said: I'm still trying to figure out how we explain to the hearing how we managed to sell the stadium to a company that didn't exist at the time. That's not what they are after us for, if they push that on us the case needs to start again which in fairness would easily see us avoid a deduction this season. Also if they open up that can of worms then its going to be a long process as many other clubs owners have their own imaginary companies funneling money into the clubs. Link to comment Share on other sites More sharing options...
Guest Ferkorf Posted July 10, 2020 Share Posted July 10, 2020 1 minute ago, S26 Owl said: Decision today. 21 points, 9 suspended incase we mess up again. My prediction Wowzers... where did you hear that one? Link to comment Share on other sites More sharing options...
owls-swfc Posted July 10, 2020 Share Posted July 10, 2020 I think I'll type up a recipe for baking a cake and time it whilst I watch.... Link to comment Share on other sites More sharing options...
S36 OWL Posted July 10, 2020 Share Posted July 10, 2020 1 minute ago, Ferkorf said: That's not what they are after us for, if they push that on us the case needs to start again which in fairness would easily see us avoid a deduction this season. Also if they open up that can of worms then its going to be a long process as many other clubs owners have their own imaginary companies funneling money into the clubs. I agree most club owners will have shell companies, but the key here is ours did not exist at the time Chansiri claimed he sold the stadium to them Link to comment Share on other sites More sharing options...
S36 OWL Posted July 10, 2020 Share Posted July 10, 2020 1 minute ago, Ferkorf said: That's not what they are after us for, if they push that on us the case needs to start again which in fairness would easily see us avoid a deduction this season. Also if they open up that can of worms then its going to be a long process as many other clubs owners have their own imaginary companies funneling money into the clubs. I agree most club owners will have shell companies, but the key here is ours did not exist at the time Chansiri claimed he sold the stadium to them 1 Link to comment Share on other sites More sharing options...
S36 OWL Posted July 10, 2020 Share Posted July 10, 2020 3 minutes ago, Ferkorf said: Wowzers... where did you hear that one? Brenda on facebook. 2 Link to comment Share on other sites More sharing options...
Guest Ferkorf Posted July 10, 2020 Share Posted July 10, 2020 Just now, S36 OWL said: I agree most club owners will have shell companies, but the key here is ours did not exist at the time Chansiri claimed he sold the stadium to them Thats not the charge though. If they want to bring that into it then Nicky del cheery pies will squash the case get another date, prepare his defence etc and we will be safe this season well apart from playing 3 at the back Link to comment Share on other sites More sharing options...
Guest Ferkorf Posted July 10, 2020 Share Posted July 10, 2020 Just now, S36 OWL said: Brenda on facebook. Shes usually spot on is Brenda, wasn't she the one that predicted a pandemic in 2020 way back in 2018 ? Link to comment Share on other sites More sharing options...
ATBS Posted July 10, 2020 Share Posted July 10, 2020 1 minute ago, Ferkorf said: Thats not the charge though. If they want to bring that into it then Nicky del cheery pies will squash the case get another date, prepare his defence etc and we will be safe this season well apart from playing 3 at the back Surely it is the charge. Financial misconduct ? 1 Link to comment Share on other sites More sharing options...
S36 OWL Posted July 10, 2020 Share Posted July 10, 2020 1 minute ago, ATBS said: Surely it is the charge. Financial misconduct ? That's my view as well. Link to comment Share on other sites More sharing options...
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