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12 minutes ago, Brad_owl said:

From my very limited grasp on it. 

 

2017 -£21m

2018 -£35m

Total -£56m

 

With the 2018 stadium sale of £60m this gives us a £4m surplus for those 2 years. 

 

If 2019 is under -£43m then we comply with FFP. 

 

If say we get just a fine then is that not a good result?

 

Feel free to correct if have the above wrong. 

You‘re confusing the price £60m with the profit £38m. The 2 year accounting loss including the ground sale is £19m (-21m + £2m). So for 18/19 the Max loss allowed is circa £20m + whatever the amounts that can be discarded for the FFP calculation. Given the time taken to sign and file 17/18 then presumably the £60m was calibrated to ensure it would be sufficient to clear FFP in the following year also.

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21 minutes ago, Brad_owl said:

From my very limited grasp on it. 

 

2017 -£21m

2018 -£35m

Total -£56m

 

With the 2018 stadium sale of £60m this gives us a £4m surplus for those 2 years. 

 

If 2019 is under -£43m then we comply with FFP. 

 

If say we get just a fine then is that not a good result?

 

Feel free to correct if have the above wrong. 

Profit on the sale of the stadium was only £38m (proceeds £60m cost £22m) 

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1 minute ago, RichSheffWeds said:


So Bruce’s philosophy was continued until Xmas then? 

Not at all but Monk's philosophy with Brice's players isn't a fair complarison. You're saying that he has been her longer and should be judge on that but I think that's a little unfair.

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Just now, Big Jack said:

You can see why you need a top lawyer to sort this mess.

 

All of my post is guess work - and would no doubt fall apart under an accountants assessment.

 

But people are so worried about the future of our club and I know my own thoughts are running wild right now.

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Just now, Sultan_Pepper said:

Not at all but Monk's philosophy with Brice's players isn't a fair complarison. You're saying that he has been her longer and should be judge on that but I think that's a little unfair.


I’m saying he’s been here for a limited time with no preseason. 
 

We may be at cross purposes but if we don’t credit Monk with the run from August to Xmas it’s like saying Bruce can’t take credit for the improved form when he was here for the few months he was with us. 
 

It cuts both ways. 

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26 minutes ago, Royal_D said:


He did, nowt else around how or why or when , Just told may be gone sooner rather than later 


Hopefully that Ineos rumour from back in March was true then.. or maybe Mammadov has finally got his money out of that Azerbaijan bank account. 

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1 hour ago, vulva said:

Thing is, unless DC changes his ways and gets some help, even if we ‘escape’ this year, we will be in the same place again soon enough. 

 

Probably sooner than we think, when last year's accounts come out at the end of this month. :duntmatter:

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1 minute ago, Owls-Fan said:


Hopefully that Ineos rumour from back in March was true then.. or maybe Mammadov has finally got his money out of that Azerbaijan bank account. 

I have heard Mammadov got his issues sorted out.

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One scenario nobody’s mentioned....We are going to automatically relegated this season ...making it 4 down and 4 up from league .... avoid all arguments then from other championship clubs !!!!

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1 minute ago, Hughdowd said:

One scenario nobody’s mentioned....We are going to automatically relegated this season ...making it 4 down and 4 up from league .... avoid all arguments then from other championship clubs !!!!

 

Relegation is a sanction they are allowed to use

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17 minutes ago, kobayashi said:

You‘re confusing the price £60m with the profit £38m. The 2 year accounting loss including the ground sale is £19m (-21m + £2m). So for 18/19 the Max loss allowed is circa £20m + whatever the amounts that can be discarded for the FFP calculation. Given the time taken to sign and file 17/18 then presumably the £60m was calibrated to ensure it would be sufficient to clear FFP in the following year also.

Although, weren’t the latest accounts extended by 3 months so the loss was over a 15 month period rather than 12. Obviously the loss on the latest accounts will be huge regardless

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11 minutes ago, Grandad said:

 

All of my post is guess work - and would no doubt fall apart under an accountants assessment.

 

But people are so worried about the future of our club and I know my own thoughts are running wild right now.

That's natural Nigel mate , we all share those thoughts, it's the unknown that causes sleep less nights. We will get through it, don't lose hope we can't do afford to . 

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27 minutes ago, Grandad said:

 

I was told by a fairly reliable person that he has threatened admin if the EFL pursue a points deduction.

 

Regardless of that as I don't pay too much notice to rumours - administration would write off his right to repayment of the many many millions hes invested. That would be a very bitter pill to swallow for him and what makes admin unlikely.

HOWEVER

 

Right now hes throwing £3-£4million a month down the plughole of our wages bill. Yes - he saddled us with a bill of that size. But by the time fans are allowed back in the ground he could well have chucked 8 months of that at us - and thats not sustainable for anybody. he does have an ace up his sleeve - in that hes separated the stadium from the club - and could presumably sell the stadium to any new buyer using the company thats bought it - thereby seeing a return

 

But this is where it gets murky. The stadium sale saw a staged payment over (I think it was 8 - maybe 10) years - and you'd imagine that would mean an administrator would insist that the stadium ownership may have to be returned to them - as he would be a debtor.  UNLESS the money hes been throwing at the club since lockdown has been classified as payments against the stadium.



Its all very murky - and its a bloody mess. And to be fair to him - not ALL of his own making. Covid-19 hasnt helped in the slightest.

But administration would potentially be awful for all fans who have supported the level of spending over the last few years. Club 1867. 10 years season tickets, 5 year season tickets, 3 years season tickets - and everybody who has already renewed. It is feasible that the monies they have paid could be lost in admin and the tickets not honoured. Thats my biggest worry.

Multi millionaires flooding into British football looking to make a quick buck by getting their teams in the Premier League get no sympathy from me.

Thousands of loyal Wednesday fans who have bought into the dream - they do. Many of them spend a huge proportion of their income on following Wednesday.


I heard the admin one last week, tried not to listen to be honest

 

Suspect there’s legs in it though 

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3 minutes ago, jamese said:

Although, weren’t the latest accounts extended by 3 months so the loss was over a 15 month period rather than 12. Obviously the loss on the latest accounts will be huge regardless

It was 2 months I think but your point stands that there will be an adjustment for the different period length.

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23 minutes ago, Grandad said:

 

I was told by a fairly reliable person that he has threatened admin if the EFL pursue a points deduction.

 

Regardless of that as I don't pay too much notice to rumours - administration would write off his right to repayment of the many many millions hes invested. That would be a very bitter pill to swallow for him and what makes admin unlikely.

HOWEVER

 

Right now hes throwing £3-£4million a month down the plughole of our wages bill. Yes - he saddled us with a bill of that size. But by the time fans are allowed back in the ground he could well have chucked 8 months of that at us - and thats not sustainable for anybody. he does have an ace up his sleeve - in that hes separated the stadium from the club - and could presumably sell the stadium to any new buyer using the company thats bought it - thereby seeing a return

 

But this is where it gets murky. The stadium sale saw a staged payment over (I think it was 8 - maybe 10) years - and you'd imagine that would mean an administrator would insist that the stadium ownership may have to be returned to them - as he would be a debtor.  UNLESS the money hes been throwing at the club since lockdown has been classified as payments against the stadium.



Its all very murky - and its a bloody mess. And to be fair to him - not ALL of his own making. Covid-19 hasnt helped in the slightest.

But administration would potentially be awful for all fans who have supported the level of spending over the last few years. Club 1867. 10 years season tickets, 5 year season tickets, 3 years season tickets - and everybody who has already renewed. It is feasible that the monies they have paid could be lost in admin and the tickets not honoured. Thats my biggest worry.

Multi millionaires flooding into British football looking to make a quick buck by getting their teams in the Premier League get no sympathy from me.

Thousands of loyal Wednesday fans who have bought into the dream - they do. Many of them spend a huge proportion of their income on following Wednesday.

 Alarm bells began to ring when the 10 year ticket offer came out. Agree with the above. Just call it a gut feeling. Don't forget there's that double yer money deal on the club shop in october. At the minute I'm due a refund on this year, due £200 on the shop deal in october and £700 on next year's season ticket. Interesting few weeks coming up.

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