FFP rule changes due to covid

[Chewy24]

3 hours ago, Salmonbones said:

sadly not.

 

Our cashflow problems still exist.

 

Either Mr Chansiri cannot or will not get funds into SWFC from abroad.

 

Do issues exist transferring money from a Thai bank account to a British one?   

It can be depending on the source. Banks now need to evidence that they can demonstrate "source of funds" i.e. where the money comes from. And Thailand will be classed as a high risk jurisdiction. 

[sherlyegg]

1 hour ago, Chewy24 said:

And Thailand will be classed as a high risk ..

Are Thai banks safe? Yes they are, they are in generally very sound financial condition. The Thai government offers a conditional guarantee of depositors' funds, details of which are available here.

 

According to the EU  they are not on the list of countries where money laundering / fraud is a problem.

 

[Jack of Clubs]

I’m already worried how we are going to express this on our accounts.

[clud17]

5 hours ago, Owlinmad said:

This has got creative accounting and points deduction written all over it.

Yep, just waiting for the disinfection costs for the fleet of D-Taxis, It must be at least 2 million.

[CircleSeven]

It’s a testament to how crazy football has become that there are threads like this on a football forum. 
It’s madness how deeply money and the staggeringly complex rules around how it can and can’t be spent are as, if not more important than player selection, tactics etc.

In reality the rules seem to be having a diametrically opposed result to what they are intended to have.

They are supposed to level the playing field and instead the gulf  between the Premier and Championship is bigger than ever and the gulf between the top 6 and rest of the teams within the Prem is also crazy!

To try and go up clubs are spending more, gambling crazily with the future of the club and when they reach the ‘promised land’ can’t help to compete with the established clubs once they get there!

Its completely nuts!

We all have to hope that the Pandemic at least kicks of an overhaul of the nonsense that precedes over the sport at the moment. 

[Guest Mcguigan]

15 hours ago, kevtheowl said:

That decision as been on the cards for a month or so, that also means TP will get the green light !!   UTO 

This is for season starting 19/20.

 

We’re still 5 months late posting 18/19 accounts. As a result, we’re still stuck on red.

[Guest FoxOwl12]

Since when has FFP been fair to clubs in the Championship. See below and work it out for yourselves. 

[Guest whowantstoberich]

20 hours ago, Salmonbones said:

sadly not.

 

Our cashflow problems still exist.

 

Either Mr Chansiri cannot or will not get funds into SWFC from abroad.

 

Do issues exist transferring money from a Thai bank account to a British one?   

We wouldn’t last more than a week if he wasn’t transferring money in

[Chewy24]

20 hours ago, OutwellOwl said:

Why would Thailand be considered "high Risk" .. I would have thought places like Russia, China. Azerbaijan etc would be high risk .. there are quite a few Billionaires/Multimillionaires in Thailand !!

 

Risk profile depends on a lot of things. If the money is coming from a group of companies where it is a complex structure and it is hard for the UK bank to evidence that the source is legitimate then it could be classed as high risk. Bank regulators in the UK are very hot on this topic.

[Manwë]

7 hours ago, FoxOwl12 said:

Since when has FFP been fair to clubs in the Championship. See below and work it out for yourselves. 

Why did Wednesday vote in favour of the creation of the EPL?  

 

For selfish reasons.  Now those same reasons bite us on the arse.  

 

A lesson if there was ever one.