BREAKING - Sheffield Wednesday under ANOTHER transfer embargo

[Guest]

3 hours ago, CircleSeven said:

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?

Because the Government allowed an extension,  unfortunately the EFL did not see fit to allow it 

[bradowl]

6 hours ago, Therealrealist said:

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

I haven't bought a newspaper in years, might have been Green Un last one. 

All news is on social media nowadays, though it's mostly click bait sensationalised headlines of made up crap. 

[Marro]

And the silence from the club on the point, withholding the fact that we are under an embargo until a third party puts it in the public domain is dishonest in my view.  

[sonofbert2]

BUMP

 

RIP fella

[Guest]

1 hour ago, Marro said:

And the silence from the club on the point, withholding the fact that we are under an embargo until a third party puts it in the public domain is dishonest in my view.  

Not really sure there ‘withholding’ it,  be interesting to know who leaked to the press!  Can’t be anyone within the EFL surely ... not with there blanket ‘no comment’ attitude to these issues 

[A47Owl]

On 06/04/2021 at 08:43, gurujuan said:

It is what it is, paying for mistakes of the past. Do I wish things were different? Sure I do, but as I said, we were never going to be spending any money this summer Frees and loans, that’s why we’ve brought in Darren Moore

Show respect to @gurujuan 

Give him a sensational send off in our own way. 

Find his post at 08. 43am on Tuesday and give a

[A47Owl]

2 minutes ago, A47Owl said:

Show respect to @gurujuan 

Give him a sensational send off in our own way. 

Find his post at 08. 43am on Tuesday and give a

It's on page 2.

[Ante's Bubbly]

On 06/04/2021 at 07:43, Siggi's Jonnson said:

But we sold the ground to stop this???

 

Where's the lump sum that we should have insisted on? If we get paid in little instalments that is all we can use in the accounts, minus whatever we have to pay Chansiri for using his ground. Also I guess that the price of the ground as an asset would have to come out of the accounts too? Can any of our business accountants please explain the details?

[marconi]

15 minutes ago, A47Owl said:

Show respect to @gurujuan 

Give him a sensational send off in our own way. 

Find his post at 08. 43am on Tuesday and give a

Done, RIP gurujuan.

[kirksandallowl]

2 minutes ago, Ante's Bubbly said:

 

Where's the lump sum that we should have insisted on? If we get paid in little instalments that is all we can use in the accounts, minus whatever we have to pay Chansiri for using his ground. Also I guess that the price of the ground as an asset would have to come out of the accounts too? Can any of our business accountants please explain the details?

Long story short, it’s a paper exercise no additional money will be changing hands

[Musn't Grumble]

On 06/04/2021 at 09:17, dowls said:

Coventry statement

 

Coventry City can confirm that it has been placed under a transfer embargo by the EFL. 

The Government, due to the Coronavirus crisis, allowed companies to extend the deadline to file company accounts by three months and Coventry City chose to take up this option. 

Unfortunately the EFL has decided not to replicate this extension within their own rules, which surprises us as they have amended a number of other rules due to the Coronavirus pandemic. 

Coventry City will be filing their accounts as required by Companies House within three months of the end of February, at which point the transfer embargo from the EFL will be removed. 

This is purely an administrative embargo imposed by the EFL. This has no effect on the day-to-day running of the Club or its finances, and will have no effect on planned transfer activity in the upcoming transfer window. 

Coventry City Chief Executive Dave Boddy said: “It’s disappointing that the EFL have chosen to do this. 

“The Government has allowed companies to extend the deadline to file accounts and we chose to do this, extending from the end of February to the end of May. 

“It’s ridiculous that the EFL's regulations on this do not replicate this approach that the Government has taken, especially when they have amended other rules of their during the pandemic. 

”The EFL’s imposition of this does not have any effect on us, but it is disappointing nonetheless that they have taken this approach to take action against Clubs who are simply doing what the Government is allowing us to do.”" 
 

 

 

 

 

So, basically, the EFL is overruling the law of the land?

 

Another very good reason to suggest that the EFL is either not fit for purpose or wildly out of control.

[darra]

Coventry chairman on SSN complaining about the EFL and embargo he mentioned the 3 month extension by HMRC. He also said that as soon as the accounts are published the embargo will be removed

[Pablo Bonvin]

1 minute ago, darra said:

Coventry chairman on SSN complaining about the EFL and embargo he mentioned the 3 month extension by HMRC. He also said that as soon as the accounts are published the embargo will be removed

That’s 2024 for us then.

[myHero]

The EFL

 

 

 

[areNOTwhatTHEYseem]

I really hope this gets sorted out before the transfer window opens, otherwise next season could top even this one for sheer crapness.

[billyblack]

On 06/04/2021 at 07:31, Rogers said:

We've spent zero money and replaced previous high earners with league one players.  

 

How does this happen? 

Still losing money

[billyblack]

Why is there never anything communicated by the club for this stuff? Why do we always find out by 3rs parties?

[StudentOwl]

4 minutes ago, billyblack said:

Why is there never anything communicated by the club for this stuff? Why do we always find out by 3rs parties?

Because DC is on the other side of the world and is clearly not capable or caring enough to at the speed required to OK communications. Dear Leader must sign off on everything.

 

Our reputation amongst fans, and the football business, is in tatters. The only thing that will repair it is the bringing in of a CEO/DoF-style role to run the club on the day-to-day basis to improve club/fan communications and restructure the backroom team to a professional, business-like outfit to negotiate and arrange transfers.

 

This is an appointment that needs to be made this side of early June. Anything else and any cautions optimism I have for this "clean slate" of a season will melt away. 

[areNOTwhatTHEYseem]

14 minutes ago, StudentOwl said:

Because DC is on the other side of the world and is clearly not capable or caring enough to at the speed required to OK communications. Dear Leader must sign off on everything.

 

Our reputation amongst fans, and the football business, is in tatters. The only thing that will repair it is the bringing in of a CEO/DoF-style role to run the club on the day-to-day basis to improve club/fan communications and restructure the backroom team to a professional, business-like outfit to negotiate and arrange transfers.

 

This is an appointment that needs to be made this side of early June. Anything else and any cautions optimism I have for this "clean slate" of a season will melt away. 

 

I totally agree, apart from the final point: I have no optimism whatsoever right now.

 

Unless there are clear signs of a complete sea change at the club, then I can't see that changing.

[Morepork]

27 minutes ago, StudentOwl said:

Because DC is on the other side of the world and is clearly not capable or caring enough to at the speed required to OK communications. Dear Leader must sign off on everything.

 

Our reputation amongst fans, and the football business, is in tatters. The only thing that will repair it is the bringing in of a CEO/DoF-style role to run the club on the day-to-day basis to improve club/fan communications and restructure the backroom team to a professional, business-like outfit to negotiate and arrange transfers.

 

This is an appointment that needs to be made this side of early June. Anything else and any cautions optimism I have for this "clean slate" of a season will melt away. 

 

11 minutes ago, areNOTwhatTHEYseem said:

 

I totally agree, apart from the final point: I have no optimism whatsoever right now.

 

Unless there are clear signs of a complete sea change at the club, then I can't see that changing.

 

It's only been a few days and already you can feel we're on the back foot, unprepared and accelerating towards another shambles. The owner is not just incapable of reacting to a damaging situation, he's incapable of seeing it in the first instance.