wellbeaten-the-owl Posted June 30, 2021 Share Posted June 30, 2021 1 minute ago, kobayashi said: How? It isn’t so complicated, the charge was filed by Sheffield 3 at Co House and is free to view. It's getting silly now chansiri was clear and explained the security, this was an inherited loan/liability from BEFORE chansiri took over the club. But has not been repaid as the interest is low Because of covid uncertainty the other party wanted some guarantee/security hence the charge over the stadium lodged with companies House. 2 Link to comment Share on other sites More sharing options...
kobayashi Posted June 30, 2021 Share Posted June 30, 2021 3 minutes ago, wellbeaten-the-owl said: It's getting silly now chansiri was clear and explained the security, this was an inherited loan/liability from BEFORE chansiri took over the club. But has not been repaid as the interest is low Because of covid uncertainty the other party wanted some guarantee/security hence the charge over the stadium lodged with companies House. Really? Sheffield 3 is described as the borrower...And why would Sheffield 3 grant a charge over its sole asset to cover the undisclosed liability of another company? Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted June 30, 2021 Share Posted June 30, 2021 Just now, kobayashi said: Really? Sheffield 3 is described as the borrower...And why would Sheffield 3 grant a charge over its sole asset to cover the undisclosed liability of another company? Because chansiri owns both and the asset is now held under Sheffield 3 limited. It's was explained at the time. 1 Link to comment Share on other sites More sharing options...
kobayashi Posted June 30, 2021 Share Posted June 30, 2021 6 minutes ago, wellbeaten-the-owl said: Because chansiri owns both and the asset is now held under Sheffield 3 limited. It's was explained at the time. SWFC accounts have never disclosed any loan nor was there any charge on the ground whilst SWFC were the title owner. Link to comment Share on other sites More sharing options...
kirksandallowl Posted June 30, 2021 Share Posted June 30, 2021 5 minutes ago, kobayashi said: SWFC accounts have never disclosed any loan nor was there any charge on the ground whilst SWFC were the title owner. Well apart from when Milan was here and borrowed from some bloke called Terry. Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted June 30, 2021 Share Posted June 30, 2021 3 minutes ago, kobayashi said: SWFC accounts have never disclosed any loan nor was there any charge on the ground whilst SWFC were the title owner. Wasn't secured against the ground previously. If you want to know about it then look back at the chansiri press conference in November 2020 when he explained this. This was an historic debt that the lender got scared (as chansiri put it) when we got the points deduction so wanted security against the debt, sounds like it was a rolling loan that is renewed each year. 1 Link to comment Share on other sites More sharing options...
Guest wilyfox Posted June 30, 2021 Share Posted June 30, 2021 So many accountants on here yet we still can’t seem to get them sorted. Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted June 30, 2021 Share Posted June 30, 2021 4 minutes ago, wilyfox said: So many accountants on here yet we still can’t seem to get them sorted. If I was a betting man I'd say we'll see accounts agreed in next 7 days 1 Link to comment Share on other sites More sharing options...
Guest wilyfox Posted June 30, 2021 Share Posted June 30, 2021 25 minutes ago, wellbeaten-the-owl said: If I was a betting man I'd say we'll see accounts agreed in next 7 days this next 7 days? Link to comment Share on other sites More sharing options...
kobayashi Posted June 30, 2021 Share Posted June 30, 2021 47 minutes ago, wellbeaten-the-owl said: Wasn't secured against the ground previously. If you want to know about it then look back at the chansiri press conference in November 2020 when he explained this. This was an historic debt that the lender got scared (as chansiri put it) when we got the points deduction so wanted security against the debt, sounds like it was a rolling loan that is renewed each year. You don’t volunteer a charge over your only asset because another company’s “lender got scared”. But there was no loan because no loans were ever disclosed in the account of SWFC, including accounts signed in March 2021. Are you accusing Mr Chansiri of falsifying his accounts? That’s quite an accusation… Link to comment Share on other sites More sharing options...
Utah Owl Posted June 30, 2021 Share Posted June 30, 2021 9 minutes ago, kobayashi said: You don’t volunteer a charge over your only asset because another company’s “lender got scared”. But there was no loan because no loans were ever disclosed in the account of SWFC, including accounts signed in March 2021. Are you accusing Mr Chansiri of falsifying his accounts? That’s quite an accusation… Indeed it is, but given the man's incompetence and everything else surrounding the club, would it really be such a surprise? Link to comment Share on other sites More sharing options...
DSandersonOWL Posted June 30, 2021 Share Posted June 30, 2021 1 hour ago, wellbeaten-the-owl said: If I was a betting man I'd say we'll see accounts agreed in next 7 days If I was an accountant then I would bet that you are right ! Link to comment Share on other sites More sharing options...
Guest Hornsby Posted July 1, 2021 Share Posted July 1, 2021 14 hours ago, kobayashi said: How? It isn’t so complicated, the charge was filed by Sheffield 3 at Co House and is free to view. But not loan agreement, which will show where money went. Of course, S3 have to agree to this and agree to charge against their asset. Sadly, their accounts also late for confirmation. And Co House say they are non trading so why would they need £7 million? Unless really are gonna pay club for stadium. But then, why not off set against £3 million annual rent. Murky. Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted July 1, 2021 Share Posted July 1, 2021 2 hours ago, Hornsby said: But not loan agreement, which will show where money went. Of course, S3 have to agree to this and agree to charge against their asset. Sadly, their accounts also late for confirmation. And Co House say they are non trading so why would they need £7 million? Unless really are gonna pay club for stadium. But then, why not off set against £3 million annual rent. Murky. Except that this has already been explained by chansiri that this is a rolling liability that is a legacy from before his time. Link to comment Share on other sites More sharing options...
Plonk Posted July 1, 2021 Share Posted July 1, 2021 2 hours ago, Baldockowl said: The FD should have resigned a very long time ago. Embarrassing for him and his Finance Dept When did we get an FD? Link to comment Share on other sites More sharing options...
royalowlisback Posted July 1, 2021 Share Posted July 1, 2021 1 minute ago, Plonk said: When did we get an FD? I remember when we had FUD. Link to comment Share on other sites More sharing options...
Guest Hornsby Posted July 1, 2021 Share Posted July 1, 2021 1 hour ago, wellbeaten-the-owl said: Except that this has already been explained by chansiri that this is a rolling liability that is a legacy from before his time. £150 million sponsorship deal was more credible. Link to comment Share on other sites More sharing options...
Sham67 Posted July 1, 2021 Share Posted July 1, 2021 10 hours ago, royalowlisback said: I remember when we had FUD. We’ve got plenty of that nowadays. 1 Link to comment Share on other sites More sharing options...
Guest Grandad Posted July 1, 2021 Share Posted July 1, 2021 On 30/06/2021 at 18:25, wellbeaten-the-owl said: It's getting silly now chansiri was clear and explained the security, this was an inherited loan/liability from BEFORE chansiri took over the club. But has not been repaid as the interest is low Because of covid uncertainty the other party wanted some guarantee/security hence the charge over the stadium lodged with companies House. This would be listed as long term liabilities/creditor in the accounts. It's not Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted July 1, 2021 Share Posted July 1, 2021 1 minute ago, Grandad said: This would be listed as long term liabilities/creditor in the accounts. It's not It's should be yes so that bit doesn't make a lot of sense, the 2020 accounts of Sheffield 3 limited and swfc limited should hopefully clear some of this up. Chansiri clearly said in that press conference he had inherited a number of debts when taking over the club. Seen similar before when business taken over and debts come out of woodwork that weren't obvious in the accounts. Link to comment Share on other sites More sharing options...
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