CHANSIRI

[myHero]

19 hours ago, Shez said:

 

Yep...it can, and most likely will get worse (whether he throws the towel in or not). Admin is a posibility...a real posibility, it's said by many he owns all the debt but he doesn't (and the debt he does own the only way to get it back would be a % on the pound through admin....no bugger will buy the club with ongoing losses), he's mortgaged against the ground and owes real money to real people (not just the made up ones)Admin, new owner, come out of embargo and start again like leeds did without the ground, build from the ground up...acadamy, coaching staff....fundementals, and get bums back on seats/in the club shop and fresh investment/sponsorship etc on board.

 

It's been done before...but has the owner, board, staff, fans....the club on the whole... got the apetite for the project, cos if they haven't (and this includes the fans...really really includes the fans) then there's still someway to fall before rock bottom hits.

For me all possibilities are still on the table for the club and fans, including  starting again with a new club. It's going to be a long way back either way.

 

Any idea who the other external creditors are which DC has borrowed from? (Assuming it's possible to name names)

 

I'm working on the presumption the recent furlongh story is the club negotiating with HMRC over payment of PAYE, so we can safely be assume the tax man will be knocking on the door eventually, but who else holds the keys?

 

 

 

 

 

[myHero]

19 hours ago, Costello 77 said:

You're not seeing things straight.

Try looking at the situation objectively rather than subjectively.

He's not turning this around.

Is he?

Now that the ridiculous contracts are out of the way he's got the same to fund as most lower league clubs.

There's nothing left to fear.. the nightmare is played out and now it's time to contemplate a better future.

 

A future without him.

I think you might be right. Time will tell.

 

[Musn't Grumble]

On 01/06/2021 at 08:14, bronxowl said:

It’s quite obvious now reading reports he wants out, but he wants a fortune for it.

I think he’s going to liquidate the club to right off the debts, cut his losses and run....

He’ll be ok, the club will be gone.......

 

Spot on!

 

Even if the club was for sale for £1, the actual assets (which no longer include the ground... and probably only include a paid-on-time Barry Bannan and that's about it) won't come anywhere near covering the liabilities. The SWFC brand has also taken a battering so the value of the brand is not worth as much as it could be.

 

The club was only worth £40m when Mandaric sold it on and that was on the basis that there were no debts to carry forward. DC claims that he invested at least a further £100m which means that DC is probably stood to £140/160m.

 

Unless some filthy rich lunatic has the proverbial pound and enough additional cash to restructure debt and invest in practically a brand new squad next season, DC's only escape route is liquidation or, if he sees that the end is nigh, then it's administration and "Cheerio, everybody". In the absence of information to the contrary, I suspect that we have crossed the Rubicon in terms of sustainability and the club is making losses over losses. Of course, the club has not suggested this so far but the testimonies of players who haven't been paid for a month or two and huge numbers of fans who have had their season ticket money taken away, let alone more breaches of EFL rules regarding accounts all point to a sticky end soon.

 

Whatever happens, DC cannot possibly be here for the long run unless he had the desire and ability to magically create tens of millions worth of investment without upsetting the P&S rules. I would seriously doubt that there is sufficient wherewithal in the fanbase that can raise that kind of money, even if buying from the administrator.

 

The options for the fans are either go support Sheffield FC, take up gardening on Saturday afternoons or  prepare for "Sheffield Wednesday II... this time it's personal"

[owlinexile]

29 minutes ago, Musn't Grumble said:

 

Spot on!

 

Even if the club was for sale for £1, the actual assets (which no longer include the ground... and probably only include a paid-on-time Barry Bannan and that's about it) won't come anywhere near covering the liabilities. The SWFC brand has also taken a battering so the value of the brand is not worth as much as it could be.

 

The club was only worth £40m when Mandaric sold it on and that was on the basis that there were no debts to carry forward. DC claims that he invested at least a further £100m which means that DC is probably stood to £140/160m.

 

Unless some filthy rich lunatic has the proverbial pound and enough additional cash to restructure debt and invest in practically a brand new squad next season, DC's only escape route is liquidation or, if he sees that the end is nigh, then it's administration and "Cheerio, everybody". In the absence of information to the contrary, I suspect that we have crossed the Rubicon in terms of sustainability and the club is making losses over losses. Of course, the club has not suggested this so far but the testimonies of players who haven't been paid for a month or two and huge numbers of fans who have had their season ticket money taken away, let alone more breaches of EFL rules regarding accounts all point to a sticky end soon.

 

Whatever happens, DC cannot possibly be here for the long run unless he had the desire and ability to magically create tens of millions worth of investment without upsetting the P&S rules. I would seriously doubt that there is sufficient wherewithal in the fanbase that can raise that kind of money, even if buying from the administrator.

 

The options for the fans are either go support Sheffield FC, take up gardening on Saturday afternoons or  prepare for "Sheffield Wednesday II... this time it's personal"

 

The problem is that he has invested nothing.  The club's infrastructure, training facilities, academy, corporate facilities etc are just as rusty and crumbling as they were when he arrived, with a new electronic scoreboard tacked on.

 

He might have SPENT £100m + on players and salaries.  But that's why P&S rules apply to those things specifically.  They are 'assets' that have the potential to instantly become worthless and leave you financially ruined.  

Edited June 2, 2021 by owlinexile

[Daizan10]

On 01/06/2021 at 03:08, Frank_Lucas said:

Is he really that bad? 

 

Compared to the likes of Ken Bates, Assem Allam, Vincent Tan etc....

 

In the beginning Chansiri gave us the best football we'd seen in years and the high hopes of promotion from the Championship to the Prem and at the time he spent a fair bit of money in order to try achieve this we got a decent pitch upgrade and general ground improvements were being made at this point all was looking great for our club.

 

We could argue all day long that we shouldn't have made certain signings at the time but had we not we probably wouldn't have reached the playoffs twice? And made it to Wembley.

 

As we all know it's been a downward spiral ever since and Chansiri has also seen the darkside of football when things don't go as planned he will never expected for us to be heading to league one.

 

Now how much of what we see and hear in the media is actual FACT? 

 

Are we jumping the gun a little in calling for Chansiri OUT? Who is likely to want to step in and purchase the club with it's current state? And as fans what do we expect? 

 

Would you be happy with stability over big expenditure? 

 

Milan didn't have funds in order to present a big marquee signing in the summer transfer window so we had to rely on a little wheeler dealing and scouting in the lower leagues but yet he was a great businessman and the club was in great shape players paid on time for one.

 

Is it just the case Chansiri lacks experience in the footballing world? And has been badly advised? For me there isn't much loyalty in football it's take the money and run agents are killing the game but that's another matter.

 

I'm currently on the fence regarding Chansiri and think we should be careful of what we wish for.

 

WAWAW.

 

 

He's not malicious, he's just useless. 

[Guest Hornsby]

5 hours ago, Rev Owl said:

I'm with you Hornsby.

Don't we need a buyer first.

From what I can gather we're worth next to nothing and DC values us at an  unrealistic high price?

Isn't that the problem we have to overcome somehow?

My mates just out house on market way over valued. First try.

 

But least shows games up. Sell soon, it Administration September when £7 million loan repayment due.

[Shez]

On 02/06/2021 at 16:06, owlinexile said:

 

The problem is that he has invested nothing.  The club's infrastructure, training facilities, academy, corporate facilities etc are just as rusty and crumbling as they were when he arrived, with a new electronic scoreboard tacked on.

 

He might have SPENT £100m + on players and salaries.  But that's why P&S rules apply to those things specifically.  They are 'assets' that have the potential to instantly become worthless and leave you financially ruined.  

 

It's like if i bought a house for £40k....did fizz all with it but flushed £100k in notes down the toilet. It'd still be worth less than £40k...plus the drains now need unblocking (and the lights have all been left on so theres a massive leccy bill)