Dronfield_SWFC Posted June 26, 2020 Share Posted June 26, 2020 If you sell at £1m house for £50k its fraud as avoids stamp duty etc If you buy a £50k house for £1m that's your choice. Any building is worth what someone is prepared to pay for it 1 Link to comment Share on other sites More sharing options...
stuffed owl Posted June 26, 2020 Share Posted June 26, 2020 3 minutes ago, Royal_D said: So what your suggesting is serious misconduct yeh ..? Remind me, how did the EFL get on with that misconduct charge against DC ? Are you telling me it's not been known for both those professions to be economical with the actuality when it benefits their clients? The audit watchdog handed out fines of £32.2m across the industry as a whole in 2019. And don't think the 'Big 4' get away with it either as they were fined £16.4m of that. Link to comment Share on other sites More sharing options...
bigthinrob Posted June 26, 2020 Share Posted June 26, 2020 Just now, royalowlisback said: Not sure you can compare the 2, pretty sure Spurs ground is not built on a swamp! No, I fully appreciate we are not comparing 'like for like' (obviously), but even allowing for that, there is a hell of a lot of wriggle room between 850mill & 60mill. Link to comment Share on other sites More sharing options...
Guest Posted June 26, 2020 Share Posted June 26, 2020 2 minutes ago, stuffed owl said: Are you telling me it's not been known for both those professions to be economical with the actuality when it benefits their clients? The audit watchdog handed out fines of £32.2m across the industry as a whole in 2019. And don't think the 'Big 4' get away with it either as they were fined £16.4m of that. Over to the EFL to try and prove what your suggesting then innit Link to comment Share on other sites More sharing options...
bigthinrob Posted June 26, 2020 Share Posted June 26, 2020 44 minutes ago, @owlstalk said: In a nutshell Chansiri sold the ground to himself, put the sale in the previous years accounts so we didn't breach FFP rules, so the EFL have charged us with misconduct The outcome could be a points deduction that relegates us But But But, We claim the EFL sanctioned it. "I put it to you M'lud" etc etc. 1 Link to comment Share on other sites More sharing options...
Guest Posted June 26, 2020 Share Posted June 26, 2020 What part of backdating accounts isn’t misconduct by the way ..?? Link to comment Share on other sites More sharing options...
Spookone Posted June 26, 2020 Share Posted June 26, 2020 6 minutes ago, bigthinrob said: Also (and I realise part of the issue is the 'backdating') but when you think the costs of building the new Spurs ground, (£850 million) does 60 mill for Hillsborough sound outrageous? I could very well be wrong with my figures here but didn't West Hams ground in the capital city get valued/sold for £40 million - if that is correct then it does make £60 million for Hillsborough sound a little outrageous. 1 Link to comment Share on other sites More sharing options...
stuffed owl Posted June 26, 2020 Share Posted June 26, 2020 2 minutes ago, The_Limit_Owl said: Not if you need a mortgage to buy the £50k house for £1m, only takes the mortgage valuation to come in at £50k and you’re snookered! It depends on how much you pay the valuer. Link to comment Share on other sites More sharing options...
bigthinrob Posted June 26, 2020 Share Posted June 26, 2020 34 minutes ago, Sheff74 said: Yay, more time spent in court. Just what everyone needs. Chansiri is rapidly becoming to lawyers, what he was to agents not so long ago. Marvin Gaye. "Stubborn kind of fellow". About time. We have had 50 years of chairmen firmly in the grip of the football authorities. Link to comment Share on other sites More sharing options...
Sheff74 Posted June 26, 2020 Share Posted June 26, 2020 (edited) 10 minutes ago, Hitcat said: All depends on whether we've got evidence to suggest that filing the ground sale in the previous years accounts was given the green light by the EFL. As for the value of the ground, if it was valued by an independent auditor, I can't really see that we have a case to answer. In all seriousness though, how dodgy do both things look to the (admittedly) untrained eye? Ground sold July 18, accounted for March of the same year. Ground worth, oh I don't know 20-30m at best, valued conveniently at 60m, which is the amount needed to cover FFP losses. Whatever the outcome, I am sorry to say that (and to quote George from Blackadder goes Forth).. someone looks as guilty as a puppy sat next to a pile of poo. Edited June 26, 2020 by Sheff74 Link to comment Share on other sites More sharing options...
theowlsman Posted June 26, 2020 Share Posted June 26, 2020 Vibes still feeling good. Good, good, good, vibrations Link to comment Share on other sites More sharing options...
casbahowl Posted June 26, 2020 Share Posted June 26, 2020 11 minutes ago, royalowlisback said: Not sure you can compare the 2, pretty sure Spurs ground is not built on a swamp! You ever been down Seven Sisters Rd? 2 2 Link to comment Share on other sites More sharing options...
Sheff74 Posted June 26, 2020 Share Posted June 26, 2020 2 minutes ago, bigthinrob said: Marvin Gaye. "Stubborn kind of fellow". About time. We have had 50 years of chairmen firmly in the grip of the football authorities. And now we have one who was firmly in the grip of agents, and now is a money tree for lawyers. Not sure which is worse to be honest. 1 Link to comment Share on other sites More sharing options...
andytrig Posted June 26, 2020 Share Posted June 26, 2020 1 minute ago, Royal_D said: What part of backdating accounts isn’t misconduct by the way ..?? I can only guess that some form of contract was in place to sell the ground which allowed us to put the sale in the accounts that year. According to the principle of revenue recognition, revenues are recognised in the period when it is earned (buyer and seller have entetered into an agreement to transfer assets) and realized or realizable (cash paymnet has been received or collection of payment is reasonably assured). 1 Link to comment Share on other sites More sharing options...
Miffed Posted June 26, 2020 Share Posted June 26, 2020 2 minutes ago, Sheff74 said: In all seriousness though, how dodgy do both things look to the (admittedly) untrained eye? Ground sold July 18, accounted for March of the same year. Ground worth, oh I don't know 20-30m at best, valued conveniently at 60m, which is the amount needed to cover FFP losses. Whatever the outcome, I am sorry to say that (and to quote George from Blackadder goes Forth).. someone looks as guilty as a puppy sat next to a pile of poo. Doesnt look good but if it was that clear cut why would the club spent more money to contest it so vigorously? The club feel that they have documents which prove that the accounts were signed off by the EFL. If you take that in isolation... how dodgy do the EFL look to the untrained eye? 2 Link to comment Share on other sites More sharing options...
soldierboyblue Posted June 26, 2020 Share Posted June 26, 2020 12 minutes ago, stuffed owl said: Are you telling me it's not been known for both those professions to be economical with the actuality when it benefits their clients? The audit watchdog handed out fines of £32.2m across the industry as a whole in 2019. And don't think the 'Big 4' get away with it either as they were fined £16.4m of that. There is more regulation coming into audit than has ever been present before. If auditors as you say are economical with the actuality they get struck off plain and simple. Look up Steve Denison and how much he got fined personally for his part as the lead partner in the BHS audit. Auditors are also governed by a very strict code of conduct and have to sign up to this annually. Link to comment Share on other sites More sharing options...
Sheff74 Posted June 26, 2020 Share Posted June 26, 2020 Just now, Miffed said: Doesnt look good but if it was that clear cut why would the club spent more money to contest it so vigorously? The club feel that they have documents which prove that the accounts were signed off by the EFL. If you take that in isolation... how dodgy do the EFL look to the untrained eye? They look like the incompetent ball bags that they have always been to be honest. However, I can't say Chansiri has ever filled me with any confidence. I think he is too used to getting his own way, whether he is in the wrong or not. 2 Link to comment Share on other sites More sharing options...
theowlsman Posted June 26, 2020 Share Posted June 26, 2020 3 minutes ago, andytrig said: I can only guess that some form of contract was in place to sell the ground which allowed us to put the sale in the accounts that year. According to the principle of revenue recognition, revenues are recognised in the period when it is earned (buyer and seller have entetered into an agreement to transfer assets) and realized or realizable (cash paymnet has been received or collection of payment is reasonably assured). Once there has been an offer, and that offer has been accepted, there is a legally binding deal in place I believe according to British (Business) Law. Offer and acceptance can even be verbal. Link to comment Share on other sites More sharing options...
steelowl Posted June 26, 2020 Share Posted June 26, 2020 I'm sure I read a quote from DC that he 'was working and having discussions with the EFL to get advice on the situation' a couple of years ago My take on what's happened here is that allegedly - we had those discussions because a loop hole was discovered by Derby and we wanted guidance as to whether we could do it too. I think it was waved through as we seem to assert we have proof of - however the new EFL chairman parry after rebuke from government about clubs overspending has decided to review the issue and having various clubs in his ear (boro et al) has decided to make a case of us I hope we are right we got the evidence we are vindicated and it's shot down in flames 2 Link to comment Share on other sites More sharing options...
airborne_rat_of_s6 Posted June 26, 2020 Share Posted June 26, 2020 Thunder clouds over Sheffield; fear a poo storm is a brewing Link to comment Share on other sites More sharing options...
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