BREAKING - Sheffield Wednesday under ANOTHER transfer embargo

[Inspector Lestrade]

Just now, Grandad said:

 

it looks according to this like we didnt submit the required accounts forecast by the required date.

 

Really think FFP needs an overhaul I can see the benefits if it, but once a club gets snared it seems forever to get untangled.  It's going to end up with a major club going under, the very thing FFP is designed to stop from happening.

[WhiteOwl91]

Just now, Inspector Lestrade said:

 

Really think FFP needs an overhaul I can see the benefits if it, but once a club gets snared it seems forever to get untangled.  It's going to end up with a major club going under, the very thing FFP is designed to stop from happening.

Yeh it tries to stop clubs overspending and going bust

 

But what it does, for those clubs who break it, results in death by 1000 cuts. Over years, with restrictions, embargoes etc.

 

Ultimately it doesn’t stop an owner running you into the ground. 

[WalthamOwl]

With Chansiri this won’t be a straight forward thing like it seems to be with the other clubs, would not surprise me if this drags on until the summer and stops us signing new players and results in a point deduction 

[WalthamOwl]

So typical of this club to have a brilliant win yesterday and then within 24 hours it’s announced we are under an embargo. 

[owlinexile]

1 hour ago, @owlstalk said:

 

Reminder that there are TEN clubs under embargo - not just us

 

How many of those other ones just sold their stadium to fiddle their way out of P&S issues, and are now stuck paying rent to a mercurial idiot for the privilege of being allowed to play there?

[wellbeaten-the-owl]

3 minutes ago, dowls said:

 As per the Coventry announcement earlier it’s administrative in nature ..

 

almost like “computer says” at the EFL.

Doesn't make sense can't be same issue as Coventry.

 

Their accounts year is 31 may and would technically have had to file by 28 February.  So we're late but have applied the 3 month government extension so not late with companies House until 31 may.

 

Our year end is 31 July and accounts not due for nearly another month.

[Guest]

1 minute ago, WalthamOwl said:

With Chansiri this won’t be a straight forward thing like it seems to be with the other clubs, would not surprise me if this drags on until the summer and stops us signing new players and results in a point deduction 

There gonna embargo a club who posted a profit in there last accounts and have about 8 contracted players for next season ?? 

[darra]

1 hour ago, @owlstalk said:

 

Reminder that there are TEN clubs under embargo - not just us

Half the league then?

[wellbeaten-the-owl]

By the way, Derby county have still not filed their 30 June 2019 accounts! 

[Bluesteel]

3 minutes ago, wellbeaten-the-owl said:

Doesn't make sense can't be same issue as Coventry.

 

Their accounts year is 31 may and would technically have had to file by 28 February.  So we're late but have applied the 3 month government extension so not late with companies House until 31 may.

 

Our year end is 31 July and accounts not due for nearly another month.

My guess would be swfc, Cardiff and Derby was due to the disruption with payment of wages.

[SallyCinnamon]

On a wave of positivity and then BANG It almost always is followed by something negative which is usually caused by the chairman. 

[wellbeaten-the-owl]

1 minute ago, Bluesteel said:

My guess would be swfc, Cardiff and Derby was due to the disruption with payment of wages.

Derby can understand as they have still not filed their 2019 accounts (which were due over a year ago)

[SallyCinnamon]

11 minutes ago, Inspector Lestrade said:

 

Really think FFP needs an overhaul I can see the benefits if it, but once a club gets snared it seems forever to get untangled.  It's going to end up with a major club going under, the very thing FFP is designed to stop from happening.

People have said this for years, yet the only club who has gone under is Bury.

 

It actually works. The only issue I have with it is the unfair advantage it gives clubs with parachute payments.

[Guest]

I suppose this is another matter for no comment by the EFL is it ??

[dowls]

1 minute ago, SallyCinnamon said:

On a wave of positivity and then BANG It almost always is followed by something negative which is usually caused by the chairman. 

More like pandemic .. but yes DC purposefully arranged Daily Mail to break the story after our 5-0 victory .. your blinded by hatred - very sad to see

[Inspector Lestrade]

1 minute ago, SallyCinnamon said:

People have said this for years, yet the only club who has gone under is Bury.

 

It actually works. The only issue I have with it is the unfair advantage it gives clubs with parachute payments.

 

Derby really seem to be in the mire, would hate for them or anyone else to fold.   

[SallyCinnamon]

1 minute ago, dowls said:

More like pandemic .. but yes DC purposefully arranged Daily Mail to break the story after our 5-0 victory .. your blinded by hatred - very sad to see

Oh give over. I’m just sick of the off the field shenanigans which haunt the playing side of things like a bad fart. 

[SallyCinnamon]

Just now, Inspector Lestrade said:

 

Derby really seem to be in the mire, would hate for them or anyone else to fold.   

I don’t think they will. Someone will buy them out. I’m very surprised someone hasn’t swooped in already, really good infrastructure at that club from the ground, sponsorship etc. 

[Silkstone Owl]

So we have a load of players out of contract in the summer and now we’re under an embargo?!? 
 

But too early in the week for this kind of shitstorm isn’t it!?

[wellbeaten-the-owl]

8 minutes ago, Bluesteel said:

My guess would be swfc, Cardiff and Derby was due to the disruption with payment of wages.

Sounds like it's an internal deadline with EFL to receive accounts rather than official companies House one.  Looks like all clubs irrespective of year end date have to submit their final accounts with EFL by 28 February each year.

 

For those like us with June or July year ends that means it's before the company regulations deadline, for most clubs with 31 may year ends it's the same 9 month's.