Shiregreenowl 80 Posted January 16, 2021 Share Posted January 16, 2021 11 minutes ago, S36 OWL said: The lastest accounts will give us insight into where the money to pay the wages actually came from. Thought that's fairly obvious without and funds coming in Link to comment Share on other sites More sharing options...
Guest Mcguigan Posted January 16, 2021 Share Posted January 16, 2021 1 minute ago, hirstyboywonder said: Are you sure? The last accounts actually showed a profit due to the stadium sale. If the stadium sale is now diced into the forthcoming accounts having not been allowed in the previous one for EFL purposes, I would expect us to show similar. But the sale will be removed from the 17/18 accounts meaning that we’ll have posted £36m losses for that year. Accounting for P&S 16/17 - 17/18 - 18/10 16/17 £20m loss 17/18 £36m loss We’ve already failed tests 1 and 2 hence the soft sanctions that people keep telling me we aren’t under. To get below the £39m upper limits and avoid another points deduction for a second consecutive result of overspending, we’ll have to post a profit of over £10m in 18/19. Not going to happen. We’re screwed until next season at the earliest. Link to comment Share on other sites More sharing options...
billyblack Posted January 16, 2021 Share Posted January 16, 2021 We will be fine, we have a steady hand at the helm ......... 1 1 Link to comment Share on other sites More sharing options...
Jack of Clubs Posted January 16, 2021 Share Posted January 16, 2021 33 minutes ago, @owlstalk said: You see that writing on the main section of the site? Them sentences? They're called thread titles They're a great way of figuring out which one of the threads you're interested in Not always... Some of them are like adverts on TV that you watch for 30 seconds but still have no idea what they are supposed to be advertising! Link to comment Share on other sites More sharing options...
Guest Posted January 16, 2021 Share Posted January 16, 2021 11 minutes ago, Therealrealist said: So if the accounts are all fine and dandy....why wont he release them? My guess he will yry and drag it out till end of season so any further punishment will be next season If accounts or not submitted to the EFL on time, they are able to impose sanctions which include: 16.7.2 subject the Club to a registration embargo such that it shall not be permitted to register any Player with that Club without the prior written consent of The League until such time as the breach identified by Regulation 16.6 has been rectified in its entirety to The League’s satisfaction. Given our recent signing of Green, we must have some ongoing agreement/negotiation with them as they simply would not allow us to just 'drag it out until the end of the season'. Link to comment Share on other sites More sharing options...
S36 OWL Posted January 16, 2021 Share Posted January 16, 2021 8 minutes ago, Shiregreenowl 80 said: Thought that's fairly obvious without and funds coming in It's not the fact the money has been Borrowed, its who it's been borrowed from that is the concern. 1 Link to comment Share on other sites More sharing options...
sonofbert2 Posted January 16, 2021 Share Posted January 16, 2021 Be reyt. 2 Link to comment Share on other sites More sharing options...
Nick the Owl Posted January 16, 2021 Share Posted January 16, 2021 19 minutes ago, Mcguigan said: But the sale will be removed from the 17/18 accounts meaning that we’ll have posted £36m losses for that year. Accounting for P&S 16/17 - 17/18 - 18/10 16/17 £20m loss 17/18 £36m loss We’ve already failed tests 1 and 2 hence the soft sanctions that people keep telling me we aren’t under. To get below the £39m upper limits and avoid another points deduction for a second consecutive result of overspending, we’ll have to post a profit of over £10m in 18/19. Not going to happen. We’re screwed until next season at the earliest. How and where does the stadium sale factor into this? Isn't that to be included in 18/19 after being incorrectly placed in year before? 1 Link to comment Share on other sites More sharing options...
Guest Grandad Posted January 16, 2021 Share Posted January 16, 2021 25 minutes ago, hirstyboywonder said: It's not good enough is it. These accounts are now 6 months late. On 5th November he said they would be published 'soon'. On 31st December he said the accounts had been finished and would be published 'soon'. I guess 'soon' is a relative concept dependent on what time scale you are comparing it to! Actually 9 months, given we used the extended deadline allowed because of Covid Link to comment Share on other sites More sharing options...
Guest Posted January 16, 2021 Share Posted January 16, 2021 7 minutes ago, Mcguigan said: But the sale will be removed from the 17/18 accounts meaning that we’ll have posted £36m losses for that year. Accounting for P&S 16/17 - 17/18 - 18/10 16/17 £20m loss 17/18 £36m loss We’ve already failed tests 1 and 2 hence the soft sanctions that people keep telling me we aren’t under. To get below the £39m upper limits and avoid another points deduction for a second consecutive result of overspending, we’ll have to post a profit of over £10m in 18/19. Not going to happen. We’re screwed until next season at the earliest. But we had this conversation a year ago when this came to light. Birmingham were deducted 9 points for their breach covering 2015-16 to 2017-18. In 2018-19 they lost another £8M, taking their 3-year rolling losses to around £60M so why didn't they incur another points deduction? Link to comment Share on other sites More sharing options...
Guest Mcguigan Posted January 16, 2021 Share Posted January 16, 2021 1 minute ago, hirstyboywonder said: But we had this conversation a year ago when this came to light. Birmingham were deducted 9 points for their breach covering 2015-16 to 2017-18. In 2018-19 they lost another £8M, taking their 3-year rolling losses to around £60M so why didn't they incur another points deduction? I’m posting on my phone at minute, so I’ll reply soon. Link to comment Share on other sites More sharing options...
Big Jack Posted January 16, 2021 Share Posted January 16, 2021 Job vacancy advertised for an accountant at S6 https://www.swfc.co.uk/news/2021/january/job-vacancy/ 2 Link to comment Share on other sites More sharing options...
FreshOwl Posted January 16, 2021 Share Posted January 16, 2021 Big Chans will sort the accounts. Viva Chansiri 2 Link to comment Share on other sites More sharing options...
airborne_rat_of_s6 Posted January 16, 2021 Share Posted January 16, 2021 13 minutes ago, S36 OWL said: It's not the fact the money has been Borrowed, its who it's been borrowed from that is the concern. Hopefully Brighthouse or Wongo 1 Link to comment Share on other sites More sharing options...
Guest Posted January 16, 2021 Share Posted January 16, 2021 5 minutes ago, Asio otus said: Job vacancy advertised for an accountant at S6 https://www.swfc.co.uk/news/2021/january/job-vacancy/ That job has been vacant and advertised for 2 or 3 months now. Even Lee Majors would be reluctant to take it on! Link to comment Share on other sites More sharing options...
McRightSide Posted January 16, 2021 Share Posted January 16, 2021 7 minutes ago, Asio otus said: Job vacancy advertised for an accountant at S6 https://www.swfc.co.uk/news/2021/january/job-vacancy/ So that’s why the players didn’t get paid... Link to comment Share on other sites More sharing options...
Drewswfc Posted January 16, 2021 Share Posted January 16, 2021 36 minutes ago, Therealrealist said: So if the accounts are all fine and dandy....why wont he release them? My guess he will yry and drag it out till end of season so any further punishment will be next season I'd rather get deducted this season than have another nowt season where the best we can hope for is staying up. Link to comment Share on other sites More sharing options...
Guest Therealrealist Posted January 16, 2021 Share Posted January 16, 2021 27 minutes ago, hirstyboywonder said: If accounts or not submitted to the EFL on time, they are able to impose sanctions which include: 16.7.2 subject the Club to a registration embargo such that it shall not be permitted to register any Player with that Club without the prior written consent of The League until such time as the breach identified by Regulation 16.6 has been rectified in its entirety to The League’s satisfaction. Given our recent signing of Green, we must have some ongoing agreement/negotiation with them as they simply would not allow us to just 'drag it out until the end of the season'. Even under an umbongo we could have signed freebie green..as long as we arnt paying him more than 12k a week...which im sure we wont be Link to comment Share on other sites More sharing options...
Guest Therealrealist Posted January 16, 2021 Share Posted January 16, 2021 6 minutes ago, Drewswfc said: I'd rather get deducted this season than have another nowt season where the best we can hope for is staying up. Same Link to comment Share on other sites More sharing options...
Guest Posted January 16, 2021 Share Posted January 16, 2021 1 minute ago, Therealrealist said: Even under an umbongo we could have signed freebie green..as long as we arnt paying him more than 12k a week...which im sure we wont be My previous post quoted the rule directly from the EFL website, stating that agreement would have to be sought for any player registration regardless of if they were free or what their wages were. If the EFL wanted to, they could have denied registration if they were kicking up a fuss about our accounts. Doesn't deter from the fact that they should have been filed by now though. Link to comment Share on other sites More sharing options...
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