BREAKING - Players not getting paid in full / properly AGAIN

[Manwë]

5 hours ago, Brian said:

Sorry if I missed an answer to this:

 

Does this mean we're under a transfer embargo until it's sorted, or are our circumstances different to Derby's?

 

Of course, I know it's most likely a moot point since it must be impossible to convince anyone else to join us now anyway. Still, I'm curious all the same.

I'm 99% certain we are under a soft embargo right now.  The evidence of our transfer activity  speaks for itself.

 

Not due to the wages fiasco mind, but due to not releasing the accounts yet, therefore the EFL can't see how we are doing re: P&S/FFP.  

 

Our accounts are well overdue now, and that's a major worry.

[Guest mkowl]

8 hours ago, @owlstalk said:

 

Yeah - people should just forget about having their wages paid on time and just sit waiting for them and putting 100% effort in whilst their direct debits, rent, loan agreements, car payments all fail

Sick of people not towing the line and just putting up with what the employers want them to do 

It's getting out of control

Employers should be able to form a union and then approve execution of anyone found not to be doing as they're told

 

As an employer where do I sign up. Slight flaw in that if I execute my payroll lass I would have to do that and I hate that. Will stick to Plan A of them paying me so they don't have to stay at home with the kids

[Guest mkowl]

25 minutes ago, Manwë said:

I'm 99% certain we are under a soft embargo right now.  The evidence of our transfer activity  speaks for itself.

 

Not due to the wages fiasco mind, but due to not releasing the accounts yet, therefore the EFL can't see how we are doing re: P&S/FFP.  

 

Our accounts are well overdue now, and that's a major worry.

 

Not really the case re the EFL - there are regular requirements to supply interim information as part of FFP. The receipt of the audited accounts is effectively the final stage so there should be no surprises like err selling the stadium.

 

The delay on the accounts I have several theories. One is that there is regulatory review or other checks going on because of the apparent technical flaws in the 2018 accounts. My more likely one is that the auditors are refusing to sign off on going concern. You have to assess this in real time and look ahead a min of 12 months. 

 

The very topic of this thread is evidence of the issue

[matthefish2002]

I don't feel sorry for the players, like others have said they will get paid in full at a later date.

But I also don't blame players for being annoyed by the not getting paid in full at the correct time, especially if they were not told in advance this was going to happen. Not going to help if they preparations for games is took up with trying sort this out.

No chance of a decent manager or player joining us when this is happening both we need to give ourselves a fighting chance of stopping up.

Very little chance full crowds are going to let in before August so this situation is likely to be on going.

 

[Manwë]

13 minutes ago, mkowl said:

 

Not really the case re the EFL - there are regular requirements to supply interim information as part of FFP. The receipt of the audited accounts is effectively the final stage so there should be no surprises like err selling the stadium.

 

The delay on the accounts I have several theories. One is that there is regulatory review or other checks going on because of the apparent technical flaws in the 2018 accounts. My more likely one is that the auditors are refusing to sign off on going concern. You have to assess this in real time and look ahead a min of 12 months. 

 

The very topic of this thread is evidence of the issue

Will bow to your superior knowledge on such accounting things , but I still believe we are under an embargo for whatever reason. 

 

 

[Guest mkowl]

Just now, Manwë said:

Will bow to your superior knowledge on such accounting things , but I still believe we are under an embargo for whatever reason. 

 

 

 

Possibly because the preliminary figures for the 2020 year i believe had to be with the EFL in December. The absence of signed off accounts for 2019 won't help this either.

 

In terms of transfer activity there isn't a great deal going on anywhere in truth. 

 

We can't afford to pay who we have nevermind adding more to the costs. 

[Guest Mcguigan]

8 hours ago, WhiteOwl91 said:

Starting to think my dad getting me to support Wednesday was actually child abuse tbh.

Yeah same here, only good thing my mum wanted me be a Bradford City fan.

 

I realise now, they BOTH hated me.

[0114]

First reported in December 2019. So we can’t even blame Covid.The amount of money they earn is irrelevant. They should be being paid on time. It’s also a huge red flag as to what else we can’t afford to pay. 

[Guest Mcguigan]

29 minutes ago, mkowl said:

 

Not really the case re the EFL - there are regular requirements to supply interim information as part of FFP. The receipt of the audited accounts is effectively the final stage so there should be no surprises like err selling the stadium.

 

The delay on the accounts I have several theories. One is that there is regulatory review or other checks going on because of the apparent technical flaws in the 2018 accounts. My more likely one is that the auditors are refusing to sign off on going concern. You have to assess this in real time and look ahead a min of 12 months. 

 

The very topic of this thread is evidence of the issue

It appears to be very much the case for the EFL.

 

As you’ve said, receipt of the audited accounts is effectively the final stage of the P&S reviews but by us not having a set of audited accounts for 18/19 our P&S submissions for the following periods can’t be verified and accepted. Remember it’s a three year rolling review.

 

16/17 - 17/18 - 18/19

17/18 - 18/19 - 19/20

18/19 - 19/20 and a forecast for 20/21 by 1st March

 

Thats three sets of accounting periods we can’t be assessed over because our audited accounts are so late.

[mcmigo]

Just waking up to this awful news.  Not making payroll is a killer for any business.  This is now a year we have been missing payroll, after the first rumours in December 2019.  As  I said before, this cannot be admin or process issues, this is extremely serious and suggests we are out of cash.

 

we need to sell whoever we can this weekend, for whatever we can get. Forget the appointment of a new managerial team, give the job to the coaches in charge now, and DC needs to seek sale of club immediately with proper investment  bankers not two Bob chancers with shiny websites and no track record.

 

 

[Guest mkowl]

10 minutes ago, Mcguigan said:

It appears to be very much the case for the EFL.

 

As you’ve said, receipt of the audited accounts is effectively the final stage of the P&S reviews but by us not having a set of audited accounts for 18/19 our P&S submissions for the following periods can’t be verified and accepted. Remember it’s a three year rolling review.

 

16/17 - 17/18 - 18/19

17/18 - 18/19 - 19/20

18/19 - 19/20 and a forecast for 20/21 by 1st March

 

Thats three sets of accounting periods we can’t be assessed over because our audited accounts are so late.

 

And not to be overlooked is that once you are on the naughty step there are further requirements in any event.

 

I can't believe Companies House are not throwing in a curveball as yet on the accounts point. They have never been this obliging with my requests for delaying submission

[Guest Grandad]

7 hours ago, Doghouse Daz said:

 

Therein lies the problem. Overinflated lifestyles on overinflated wages. They need to get a grip, as Ronio has alluded to, things are going to take a massive tumble throughout the leagues. 

 

Sympathy ain't due, when thousands of fans are owed money for 20/21 season tickets that they can I'll afford. 

 

£910 in my case, paid in debit card and cash. Cash element I'll probably never recover.

 

 

Football is a fickle and often short career

 

Many players have to invest as much as they can in property, commercial interests etc to ensure they can maintain their lifestyle when their career is over in their early to mid 30s.

 

Much of that means that a large proportion of their disposable income (after they've paid half of their wages to the tax man) is allocated to their investment fund. Paying a footballer short means that he has to either rely on savings (if he has any) or not pay into the investment fund.

 

This could mean he's behind on property payments, car loans etc etc

 

Please don't defend this. While the players are very fortunate to be paid what they are paid the vast majority will be investing responsibly for their future

[Doghouse Daz]

2 minutes ago, Grandad said:

 

 

Football is a fickle and often short career

 

Many players have to invest as much as they can in property, commercial interests etc to ensure they can maintain their lifestyle when their career is over in their early to mid 30s.

 

Much of that means that a large proportion of their disposable income (after they've paid half of their wages to the tax man) is allocated to their investment fund. Paying a footballer short means that he has to either rely on savings (if he has any) or not pay into the investment fund.

 

This could mean he's behind on property payments, car loans etc etc

 

Please don't defend this. While the players are very fortunate to be paid what they are paid the vast majority will be investing responsibly for their future

 

And consequently should have something set aside for the rainy day.

 

As per my original post, they can lump it like the rest of us for a few months. 

[Guest mkowl]

11 minutes ago, mcmigo said:

Just waking up to this awful news.  Not making payroll is a killer for any business.  This is now a year we have been missing payroll, after the first rumours in December 2019.  As  I said before, this cannot be admin or process issues, this is extremely serious and suggests we are out of cash.

 

we need to sell whoever we can this weekend, for whatever we can get. Forget the appointment of a new managerial team, give the job to the coaches in charge now, and DC needs to seek sale of club immediately with proper investment  bankers not two Bob chancers with shiny websites and no track record.

 

 

 

Spot on with your first point. Running your own business and knowing a month may be tight to meet the payroll is one of cold sweats in the night moments.

 

The fact is no employee will work at 100% in that scenario. Difference is fans somehow expect the players not to be affected, whilst they themselves would probably sit at work doing nowt in the same scenario

 

None of us know the financial realities behind the scenes other than it don't appear good 

[mcmigo]

4 minutes ago, Doghouse Daz said:

 

And consequently should have something set aside for the rainy day.

 

As per my original post, they can lump it like the rest of us for a few months. 

They have been ‘lumping’ it for a year.

 

why are reading paying their players and we aren’t ? 

[Guest Grandad]

5 minutes ago, Doghouse Daz said:

 

And consequently should have something set aside for the rainy day.

 

As per my original post, they can lump it like the rest of us for a few months. 

The rainy day for investments is following retirement. Not when your employer hasn't honoured your contractual agreement

[vulva]

21 minutes ago, mcmigo said:

Just waking up to this awful news.  Not making payroll is a killer for any business.  This is now a year we have been missing payroll, after the first rumours in December 2019.  As  I said before, this cannot be admin or process issues, this is extremely serious and suggests we are out of cash.

 

we need to sell whoever we can this weekend, for whatever we can get. Forget the appointment of a new managerial team, give the job to the coaches in charge now, and DC needs to seek sale of club immediately with proper investment  bankers not two Bob chancers with shiny websites and no track record.

 

 

Agree with that. I’d like us to bottom out ASAP and crack on with the inevitable. We are like an old band playing covers at a wedding, living on past glories. Sell as many assets for as much as possible (that won’t be much), and play the kids. Clear the decks in the summer and re set the whole football club. And someone get a change in ownership. It might take us 10 years to come back, but we will come back. 

[Mr Farrell]

1 minute ago, 2roland2 said:

Long time no speak. Hope everyone is well as can be considering what’s happening with Covid.

 

So are the alarm bells being heard now? I think the tidal wave was smashing into our fans faces long before most heard the bells....as football fans that isn’t surprising because we are blind loyal. 
Not once did I like typing my negative predictions from dot 1 when Chansiri arrived right upto when I stopped posting but I was trying to get across my fear of what I thought might happen to the club I have loved. 
 

Sad times indeed 

 

Lots of people wish they were wrong about him.

 

Dark days.

 

[Guest Grandad]

4 minutes ago, mkowl said:

 

Spot on with your first point. Running your own business and knowing a month may be tight to meet the payroll is one of cold sweats in the night moments.

 

The fact is no employee will work at 100% in that scenario. Difference is fans somehow expect the players not to be affected, whilst they themselves would probably sit at work doing nowt in the same scenario

 

None of us know the financial realities behind the scenes other than it don't appear good 

And any responsible employer will cover all the wages out of his own money if he has to, rather than pay people short

[Guest mkowl]

5 minutes ago, Doghouse Daz said:

 

And consequently should have something set aside for the rainy day.

 

As per my original post, they can lump it like the rest of us for a few months. 

 

The rainy day fund that is probably tied up liquidity wise therein being the problem.

 

So it is an issue because undoubtedly the players can survive i am sure but they are not immune from the mundane of having to sort things out, notwithstanding their Mrs no doubt giving em a bit of grief.

 

Their on pitch performance will be down, exactly like yours would at work if your employer came up short this week or month