BREAKING - Sheffield Wednesday under ANOTHER transfer embargo

[room0035]

3 hours ago, wellbeaten-the-owl said:

Quite a bit incorrect there, for start the 9 month's doesn't end until 30 April.

 

Also likely were in the embargo before the Cardiff game like the other 9 clubs.

We have to file our information with the EFL by 31st January every season.

 

DC was one of the chairman who created the rule he just doesn't think the rules apply tohim. But no worries his is coming.

[FreshOwl]

21 minutes ago, whowantstoberich said:

It is over policing to the max. The punishment is in any other business, if your investment didnt work out, you lost your money.

 

Simple as that, or at least it should be.

Would be interested to know the views on the chairman if FFP didn’t exist 

[Hookowl]

25 minutes ago, room0035 said:

We have to file our information with the EFL by 31st January every season.

 

DC was one of the chairman who created the rule he just doesn't think the rules apply tohim. But no worries his is coming.

2.2  Subject to Rule 2.2A, each Club shall by 1 March in each Season submit to the Executive:

2.2.1  copies of its Annual Accounts for T-1 (and T-2 if these have not previously been submitted to the Executive) together with copies of the directors’ report(s) and auditor’s report(s) on those accounts;

2.2.2  its estimated profit and loss account and balance sheet for T which shall:

(a)  be prepared in all material respects in a format similar to the Club’s Annual Accounts; and

(b)  be based on the latest information available to the Club and be, to the best of the Club’s knowledge and belief, an accurate estimate as at the time of preparation of future financial performance; and

2.2.3  if Rule 2.5 applies to the Club its P&S Calculation in a form approved by the Executive from time to time and which as at the date of these Rules is set out in Appendix 1.

[bradowl]

This story is from Daily Mail. 

 

Daily Mail!!! 

[kobayashi]

2 hours ago, whowantstoberich said:

So if they submitted everything they could invest £250million this summer without any consequences from the EFL eg a future embargo?

Yes they can invest as much as they like without any consequences. You seem to be confusing investment with losses...Chansiri  hasn’t invested +£100m at SWFC he has lost  +£100m at SWFC.

[Guest whowantstoberich]

7 minutes ago, kobayashi said:

Yes they can invest as much as they like without any consequences. You seem to be confusing investment with losses...Chansiri  hasn’t invested +£100m at SWFC he has lost  +£100m at SWFC.

How do you make a loss without first making an investment?

[kobayashi]

2 hours ago, FreshOwl said:

Fair. I just meant in the grand scheme of things. It’s his business, let him spend how much he sees fit. Why should there be a cap? Admittedly I don’t know enough about FFP, but it just all seems bizarre, like it’s easier to get punished then to just swim along 

It is his business, he can spend what he wants but if he wants that business to participate in a particular competition he has to follow the rules of the competition. It’s not complicated, it’s what 5 year old get taught when they start school.

[ANDY]

Seems the EFL are punishing teams for doing something they have done themselves. 
 

 

 

 

[kobayashi]

38 minutes ago, whowantstoberich said:

How do you make a loss without first making an investment?

Right, so your contention is that people make an investment so they can make a loss. An investment is for gain not loss.

[Guest whowantstoberich]

5 minutes ago, kobayashi said:

Right, so your contention is that people make an investment so they can make a loss. An investment is for gain not loss.

An investment is an investment regardless of whether it results in a gain or a loss.
I think you need to google ‘investment’ by the sounds of things!

[Lawrie’s Left Peg]

2 hours ago, kobayashi said:

It is his business, he can spend what he wants but if he wants that business to participate in a particular competition he has to follow the rules of the competition. It’s not complicated, it’s what 5 year old get taught when they start school.

Really? Which school did your kids go to? 

[Lawrie’s Left Peg]

2 hours ago, kobayashi said:

Yes they can invest as much as they like without any consequences. You seem to be confusing investment with losses...Chansiri  hasn’t invested +£100m at SWFC he has lost  +£100m at SWFC.

An owner can only invest in 

(c)  Women’s Football Expenditure;

(d)  Youth Development Expenditure;

(e)  Community Development Expenditure without consequence in terms of P&S. Investment in what the EFL calls player registration is classified as a cost and must be covered by operating income and owner guarantees. 

[kobayashi]

On 06/04/2021 at 23:10, Lawrie’s Left Peg said:

An owner can only invest in 

(c)  Women’s Football Expenditure;

(d)  Youth Development Expenditure;

(e)  Community Development Expenditure without consequence in terms of P&S. Investment in what the EFL calls player registration is classified as a cost and must be covered by operating income and owner guarantees. 

You don’t understand the difference between capital and revenue expenditure. The items you list are the revenue expenditure categories which can be excluded from the FFP calculation when calculating whether the maximum loss of £39m over 3 years has been exceeded. Capital expenditure in new facilities and new equipment are not part of the FFP calculation so can be undertaken as desired/required. A business invests in capital to grow revenues and profits and yet Chansiri has done precious little of this.

Players transfers fees are also treated as capital expenditure and so outside of the FFP calculation although the amortisation of those fees over the life of the contracts is included in FFP. 

[Guest Mcguigan]

On 06/04/2021 at 18:34, room0035 said:

We have to file our information with the EFL by 31st January every season.

 

DC was one of the chairman who created the rule he just doesn't think the rules apply tohim. But no worries his is coming.

No offence but most of your posts, in matters regarding finance and FFP, are incorrect and pretty misleading to posters with little knowledge of how these things work.

 

A bit of research possibly before posting.

[room0035]

2 hours ago, Mcguigan said:

No offence but most of your posts, in matters regarding finance and FFP, are incorrect and pretty misleading to posters with little knowledge of how these things work.

 

A bit of research possibly before posting.

I am pass caring and posting about how great DC runs the club.

 

Get the financial information filed by 30 April or for the third year in the trot the figures will be filed late. 

[darra]

You simply couldn’t make it up 

EFL have put clubs on transfer embargo for filing accounts late but legal

TheEFL are late filing their own accounts whichwere due in by end of March and still aren’t filed.

 

[Guest Therealrealist]

On 06/04/2021 at 19:17, bradowl said:

This story is from Daily Mail. 

 

Daily Mail!!! 

What paper do you read..daily mirror by any chance?

[Guest Grandad]

9 minutes ago, darra said:

You simply couldn’t make it up 

EFL have put clubs on transfer embargo for filing accounts late but legal

TheEFL are late filing their own accounts whichwere due in by end of March and still aren’t filed.

 

 

There is so much misunderstanding about what this is for.

 

The problem isnt the submission to Companies House.

 

Its the FFP regulation that means the clubs have to submit their financial forecasts to the EFL in March. And the rules state quite clearly that you will be placed in an embargo if you don't. 

[CircleSeven]

1 minute ago, Grandad said:

 

There is so much misunderstanding about what this is for.

 

The problem isnt the submission to Companies House.

 

Its the FFP regulation that means the clubs have to submit their financial forecasts to the EFL in March. And the rules state quite clearly that you will be placed in an embargo if you don't. 

I wonder why so many clubs haven’t done it then?

Do clubs use the same data from the accounts for the EFL submission and them being out of synch gives them problems calculating the numbers? Or are 9 other clubs management just as incompetent as ours?

[Hookowl]

1 hour ago, Grandad said:

 

There is so much misunderstanding about what this is for.

 

The problem isnt the submission to Companies House.

 

Its the FFP regulation that means the clubs have to submit their financial forecasts to the EFL in March. And the rules state quite clearly that you will be placed in an embargo if you don't. 

 

You are correct in what you are saying but, as the government have given 3 months leeway due to the pandemic one would expect the EFL to respond in a similar way.