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BREAKING NEWS - EFL VERDICT - 12 POINTS

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1 hour ago, mkowl said:

Would love to see the evidence that was presented to the panel and the rationale for the divergence in opinion between the auditor and the panel (or the expert appointed by it).

 

I am still struggling to see how if the auditor signed it off the EFL can argue against it IF the evidence was sufficient to make that call in the first place 

& me

if the auditors deem it consistent with accounting standards to account for in the y/e 31/7/18 accounts and Chansiri has been transparent with the EFL - it seems harsh to punish.

 

i can't see how it can be consistent with accounting standards to account for in y/e 31/7/18 accounts?

It must be that some sort of binding irrevocable agreement to do the deal existed at the 31/7/18 year end?

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1 hour ago, mkowl said:

The EFL rules state the audited accounts are the starting point. You will adjust for allowable expenditure eg the academy, you will then adjust for any fair value on sponsorship or other transactions. But to adjust for a  transaction that was fundamental in the original accounts is not within their remit I would have thought. To make their own judgement and for it to take precedent over the auditors opinion.

 

Unless it is obvious the auditors opinion and that of the club is deeply flawed

Really respect your expert analysis on accounting matters, none of us know what information all the people involved are privy to,but whatever it is 

1 The efl deemed it sufficient to charge us in the first place 

 

2. The  arbitration panel again aggreed it was sufficient to send us to the independent hearing. 

 

3. The independent hearing found it sufficient to find us guilty of one of the charges 

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We now know what we are up against next season.  Its time for everybody at the club to pull together and beat the 12 point deduction.  Sniping and crying over spilt milk has to stop.  Let's pull together and show the rest of the country what a great club we can be.

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1 hour ago, FinnishOwl said:

 

I'd rather think Katrien left because DC started making these unprofessional/unappropriate proposals to fix the accounts. She would have done a good job at the club if she had had the chance to actually do things.

Your evidence is where to support that assertion? Did she do a good job at Charlton?

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2 hours ago, ChapSmurf said:

 

Less of the insults pal. Your comment is unacceptable. I've no issues with anyone attacking my posts, but don't attack me. I hope that is understood. Now, back to your post.

 

Starting off in -12 points does not mean we will go down. That is your opinion only, and one you are trying to force on to other people. You are just upset because the club you no doubt love, is in a mess, due to a Chairman who is out of his depth. I get that. But get real. A ball hasn't even been kicked yet and already you are writing the team and the season off.

Your right mate i appologise .just pissed off with the situation

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Posted (edited)

Is the twelve point penalty given to us the highest ever for a breach of FFP or P&S rules?

 

Have we, true to form, been punished more than others once again?

Edited by mark1948
Typo

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21 minutes ago, Lunny1968 said:

We now know what we are up against next season.  Its time for everybody at the club to pull together and beat the 12 point deduction.  Sniping and crying over spilt milk has to stop.  Let's pull together and show the rest of the country what a great club we can be.

Stop being an uberfan negativity is needed the days of supporting your club are long gone

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People celebrating the fact we’re still in this league lol Christ 

 

It’s like getting out of jail but then being on house arrest with a tag, with the strong possibility of going back to jail (or in our case being relegated) 

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1 minute ago, mark1948 said:

Is the twelve point penalty given to us the highest ever for a breach of FFP or P&S rules?

 

Have we true to form been punished more than others once again?


The offence (ie subsequent non allowed losses following removal of stadium sale) is the highest to be brought to task, hence the higher punishment. It’s a rolling scale and fixed

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1 hour ago, FinnishOwl said:

 

I'd rather think Katrien left because DC started making these unprofessional/unappropriate proposals to fix the accounts. She would have done a good job at the club if she had had the chance to actually do things.

Some might say..

Dc was sat in his office with head in hands...then kat came..don't worry..i know a fix.

It went apeshyte, big bust up she foooked off. All around the time of ground sale, coincidence?

Think she was charged along with dc originally...the efl dropped charges against all for some reason...coincidence?

 

I doubt DC did all this off his own back, he wouldn't know where to start, he's shyte with money matters, someone advised him.

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1 minute ago, Shez said:


The offence (ie subsequent non allowed losses following removal of stadium sale) is the highest to be brought to task, hence the higher punishment. It’s a rolling scale and fixed

When was the rule written into EFL rules?

 

Is it a new thing to go with the new P&S regs or has it been around for a while.

 

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31 minutes ago, Sumi Shimamoto said:

& me

if the auditors deem it consistent with accounting standards to account for in the y/e 31/7/18 accounts and Chansiri has been transparent with the EFL - it seems harsh to punish.

 

i can't see how it can be consistent with accounting standards to account for in y/e 31/7/18 accounts?

It must be that some sort of binding irrevocable agreement to do the deal existed at the 31/7/18 year end?

 

That is basically it - if there was an unconditional contract as at 31st July 2018 then I should put it in the accounts.

 

So accounting standards not only require me to include sales invoices raised up to my year end but also for me to estimate the work in progress on that date. I have not raised an invoice, may not do for months but the contract says I could in theory.  So there is one of the basic tenents here of reporting the substance of a transaction not the legal form. 

 

But whether there is robust evidence of said contract who knows. You would normally find the error is pushing back the date to the legal completion date.

 

 

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6 minutes ago, mark1948 said:

Is the twelve point penalty given to us the highest ever for a breach of FFP or P&S rules?

 

Have we, true to form, been punished more than others once again?

 

Have there been any others apart from ours and Birmingham's?

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There is talk of suspending P&L for next season. If this happens we get doubly stuffed because we start 12 points adrift and everyone can spend what they want with impunity. 

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Anyone remember a team staying up after getting a large points deduction at the start of a season?

 

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2 hours ago, TaxiMark said:

If we had got promoted this season would they still be able to serves us with a -12 points in the PL?


I think had that been the situation they’d have applied it now and prevented promotion. But as - 12 would have resulted in auto relegation we didn’t meet the criteria for relegation so suspended.

 

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16 minutes ago, FreshOwl said:

People celebrating the fact we’re still in this league lol Christ 

 

It’s like getting out of jail but then being on house arrest with a tag, with the strong possibility of going back to jail (or in our case being relegated) 


It’s more like escaping jail in Colombia being put on a tag and then if we do go to jail it will be in the UK. Because league one next season is a place no one wants to be during Covid 19

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I can't remember any team starting on -12. Not there haven't been only that I can't remember such an event.

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10 minutes ago, dan1980 said:

Your right mate i appologise .just pissed off with the situation

 

Apology accepted. Respect for doing that.

 

I do understand where you are coming from. I think we are all pissed off, for the very same reason. The club is a joke at the moment and that hurts. We all want success and we've paid through the nose to get what exactly? Nothing. We seem to be going backwards right now.

 

So yeah, I get you.

 

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getting concerned fans are going to push him over the edge tbh, if he did indeed threaten administration if we were to be docked points for this season last then its not beyond the realms of possibilities he will stop funding the club people need to see he didn't get in this position on purpose

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