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Possibility of more sanctions looming ?


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1 hour ago, @owlstalk said:


 

Anyone excusing our accounts being late are basically fans of Chansiri and not of Sheffield Wednesday FC

That's cobblers, Neil. I'm an accountant, albeit one who doesn't deal with private sector firms. I wouldn't ******** on DC if he were on fire and want him and Paxo the hell out of our club yesterday...

 

BUT

 

...I recognise that there may (no more than may) be  legitimate reasons for the accounts to be late. Statements like yours above just ain't helpful and is likely to stunt proper discussion of what the fizz is going on behind the scenes at S6.

 

Tl:dr - DC is an incompent bellend AND the accounts could be delayed for good reason. 

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Guest Mcguigan
38 minutes ago, Costello 77 said:

You haven't given any factual information to answer my query.

Posting opinion as fact is why the thread becomes a screaming mess.

I honestly don't mind speculation.. it's thought provoking as long as it's presented as opinion.

How can I give factual information about a situation the club is under no obligation to disclose.

 

If you don’t think we’re currently operating under any EFL soft sanctions then fair enough. I can’t join the dots for you.

 

Have a read through ourselves and Birmingham’s arbitration panel findings and then the EFL’s P&S regulations and you’ll see why I form the opinions I do.

 

Then have a look at our recent transfer activity and our transfer activity since the first sanctions 2 season ago and tell me there’s no similarities.

 

Tell me why we pulled out of the transfer of Leko when the fee went above £1m. Why we signed Hutch back or without a club Andre Greene.

 

Im not posting my opinion as fact but at least it’s researched enough to provide food for thought.

 

Posting “good grief” doesn’t.

 

 

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1 minute ago, Mcguigan said:

How can I give factual information about a situation the club is under no obligation to disclose.

 

If you don’t think we’re currently operating under any EFL soft sanctions then fair enough. I can’t join the dots for you.

 

Have a read through ourselves and Birmingham’s arbitration panel findings and then the EFL’s P&S regulations and you’ll see why I form the opinions I do.

 

Then have a look at our recent transfer activity and our transfer activity since the first sanctions 2 season ago and tell me there’s no similarities.

 

Tell me why we pulled out of the transfer of Leko when the fee went above £1m. Why we signed Hutch back or without a club Andre Greene.

 

Im not posting my opinion as fact but at least it’s researched enough to provide food for thought.

 

Posting “good grief” doesn’t.

 

 

Posting "good grief" certainly electrified you.

So. What we've got is your best guess on sanction.

And absolutely no information about the clubs not named in the article.

 

You may well be right about our financial position btw but still no evidence of sanction.

 

Has it occurred to you that we aren't spending money because we haven't any?

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1 minute ago, wellbeaten-the-owl said:

Very few clubs (outside premier League) would not have issues with this at the moment.

Club is  reliant on chansiri pumping millions in to keep it going

 

Which is a pretty big issue given we know nothing about his source of finances. 

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4 minutes ago, Nostalgic Owl said:

 

Grow up.

 

They are fans with different opinions expressing them on a forum.

 

You call out Truefans for calling people blades for raising concerns about the club, questioning peoples attendance etc

 

This is the exact same behaviour.

 

 

It really isn’t. 

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Just now, rickygoo said:

Going concern issues aren’t minor. 

Here's a question for the other bean-counters on here - how much of a practical problem does a negative GC opinion present for a privately-owned company bankrolled by a supposed tycoon?

 

It's a massive problem if you're at all reliant on banks or other creditors, and would cause a stampede if publicly traded, but does any of that apply to SWFC in 2021?

 

The main two issues I see are: 

 

1 Trade creditors will want cash up front and

 

2 Related to that, players will be very reluctant to come / stay if they're not confident of getting paid in full...

 

...but being candid, I'm not sure that GC-qualified / late accounts will make any more difference than failing to make payroll each month. I'm not sure it could do that much more marginal reputational damage than has already been done.

 

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Guest Mcguigan
6 minutes ago, Costello 77 said:

Posting "good grief" certainly electrified you.

So. What we've got is your best guess on sanction.

And absolutely no information about the clubs not named in the article.

 

You may well be right about our financial position btw but still no evidence of sanction.

 

Has it occurred to you that we aren't spending money because we haven't any?

Good grief.

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2 hours ago, Mcguigan said:

Sorry, full year late.

 

They were due by 31st July. 

It clearly is not good news that they are so late and even less encouraging that the owner keeps saying they will be submitted 'soon' but there's no need to turn 6 months late into nearly a year for dramatic effect. 

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3 minutes ago, Dooogs said:

Here's a question for the other bean-counters on here - how much of a practical problem does a negative GC opinion present for a privately-owned company bankrolled by a supposed tycoon?

 

It's a massive problem if you're at all reliant on banks or other creditors, and would cause a stampede if publicly traded, but does any of that apply to SWFC in 2021?

 

The main two issues I see are: 

 

1 Trade creditors will want cash up front and

 

2 Related to that, players will be very reluctant to come / stay if they're not confident of getting paid in full...

 

...but being candid, I'm not sure that GC-qualified / late accounts will make any more difference than failing to make payroll each month. I'm not sure it could do that much more marginal reputational damage than has already been done.

 

Please don't take this personally it's more of a factual matter that concerns your post.

Have you any business experience that motivated you to reference "negative GC" ?

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3 minutes ago, Costello 77 said:

Please don't take this personally it's more of a factual matter that concerns your post.

Have you any business experience that motivated you to reference "negative GC" ?

Haha, nope, not at all. I'm an accountant but I've spent nearly my whole career in the public sector and I've never started or run a private sector company. My musings were thinking back to accountancy school case studies (and also some dsy-job work trying to prevent private-sector firms from going insolvent!). No offence taken. 🙂

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In another creative way to get around FFP, he's thinking about starting his own peanut company, so that when "customers" get back in the stadium they can enjoy D's nuts in their mouths.

 

Rumours that certain members of Owlstalk would enjoy this more than others are so far - unsubstantiated

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2 minutes ago, Gob_Bluth said:

In another creative way to get around FFP, he's thinking about starting his own peanut company, so that when "customers" get back in the stadium they can enjoy D's nuts in their mouths.

 

Rumours that certain members of Owlstalk would enjoy this more than others are so far - unsubstantiated

SWFC  are pleased to announce that Finbar Saunders has been appointed as new Marketing and Branding Director,  leading  up to the launch of our new DC's Sausage and DC's Plums ranges...

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5 hours ago, Costello 77 said:

 

And the clubs allegedly stirring the pot ...who are they?

 

At a guess:-

 

Toytown

Nottingham forest

Birmingham

QPR

 

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1 hour ago, Dooogs said:

That's cobblers, Neil. I'm an accountant, albeit one who doesn't deal with private sector firms. I wouldn't ******** on DC if he were on fire and want him and Paxo the hell out of our club yesterday...

 

BUT

 

...I recognise that there may (no more than may) be  legitimate reasons for the accounts to be late. Statements like yours above just ain't helpful and is likely to stunt proper discussion of what the fizz is going on behind the scenes at S6.

 

Tl:dr - DC is an incompent bellend AND the accounts could be delayed for good reason. 


 


What good reason?

 


Owlstalk Shop

 

 

 

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The accounts situation is probably multi facetted in history, but specific in the timings.

 

My best hope in all this, is that it's a simple cash flow and funding issue, which DC controls entirely and wants to find the best efficient mechanism to keep money circulating. 

 

Current signings or the lack of in this environment is meaningless as anyone watching SSN will observe. 

 

It doesn't excuse his other buffoonery, but we don't know anything yet, and the accounts will come out at some point - I think we know the headlines which will, in some respects look better than the previous year with and other movements out of the club like Abdi, Hooper, Matias et al. The Joao sale was probably too late but perhaps DC is looking to draft some HoTs for his sale to register for the accounts...

 

If the ground sale is included we will be in the black for 18/19 and ok on the rolling 3-yr FFP rules. If not, we're likely to have failed the test and could end up with another 6 point deduction. The timings may be related to this point, and it's the timings, like last season's delay, which ultimately kept us in the Championship. 

 

It all seems like a gamble and game of porker, but I assume the EFL already know the position, as they should under FFP rules in terms of 6 monthly returns. In the end, if we crash and burn over the next 10 games, we may as well take a 6-point deduction this season?

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