Jump to content

Kieran Maguire on how we're run


Recommended Posts

3 hours ago, SolihullOwl79 said:

https://thisisfutbol.com/2021/07/blogs/championship/sheffield-wednesday/sheffield-wednesday-kieran-maguire-reveals-the-perfectly-legal-way-sheffield-wednesday-is-run/

 

 

In the latest episode of The Price of Football podcast, Kieran Maguire has explained how Sheffield Wednesday is run financially and how the owner is constantly getting money from the club.

 

Fears of a points deduction for the second season running have been slightly alleviated for now at Sheffield Wednesday with the EFL hitting the Owls with a suspended points deduction instead of an actual deduction, like last season.

 

This will come as huge news for Darren Moore who will want to start on a level playing field against the 23 other teams in League One if his side are to push for promotion next season.

 

Moore is already on the back foot at Hillsborough with the club releasing 11 players following their relegation to England’s third tier and having only made two additions so far this summer, business has been slow, to say the least.

 

When talking about how Dejphon Chansiri is constantly getting money from the club, Maguire had the following to say:

 

(54:46) “They sold the ground to a company called Sheffield 3 or Sheffield 4 Limited that didn’t actually pay any cash for the ground, it’s paying in installments and at the same time the club is repaying a loan to the owner.

 

 

“So, it appears that the money from Sheffield 3 is then used to pay the owner back an installment of his money and the owner just so happens to own Sheffield 3.

 

“So we’ve got this sort of washing machine cycle of money flowing around, perfectly legal.”

 

It might be concerning for Sheffield Wednesday fans to know that the owner is just repaying himself back whenever the club receives installment money from when their stadium was sold.

 

With Chansiri doing this every time an instalment comes into the club, there is no real surprise to hear how the Owls have struggled to pay their players on time this year.

This was all clear from the accounts published last week not really news.

 

Known 1st year accountancy students who could make a better job of analysing accounts than that guy.  

  • Like 1
Link to comment
Share on other sites

17 minutes ago, Emerson Thome said:

 

I'm neither attacking nor defending Kevin Maguire.

 

Just pointing out that a podcast is journalism. Not every podcast, not saying My Dad Wrote a muckfilm or Quickly Kevin is journalism. But a podcast hosted by two broadcasters where they talk about topical issues in football finance, clearly is journalism.

What’s Kevin Maguire got to do with it? In’t he the left wing journalist from the breakfast telly programme? 

  • Haha 1
Link to comment
Share on other sites

51 minutes ago, Spookone said:

I did think that myself and then presumed I was missing something?

Look all he has done is looked at the 2020 accounts and seen in that year chansiri reduced his loan account by s similar amount as the years installment on the ground purchase.

 

To be honest I think the order that happened was:

 

Reading paid money to swfc for João, chansiri took money out to reduce loan account and then paid in through Sheffield 3 for year's installment on purchase.

 

Why anyone gives him credence bon the poor level of accounts analysis he does only knows.

Edited by wellbeaten-the-owl
Link to comment
Share on other sites

13 minutes ago, wellbeaten-the-owl said:

This was all clear from the accounts published last week not really news.

 

Known 1st year accountancy students who could make a better job of analysing accounts than that guy.  


 

Ah bashing the pundit time

 

How exciting 


Pile on everyone 


 


Owlstalk Shop

 

 

 

Link to comment
Share on other sites

12 minutes ago, @owlstalk said:


 

Ah bashing the pundit time

 

How exciting 


Pile on everyone 


So just to be clear:

 

People are allowed to ‘bash’ current local radio journalists, but not journalists who publish in the print media or broadcast via podcast.

 

Bizarre stance Neil.

  • Like 5
Link to comment
Share on other sites

6 minutes ago, Groundhopping Owl said:

Neil's got a point. Those bashing Maguire are only doing it because he's coming out with inconvenient truths.

 

He's not biased against us at all, get a grip for Christ's sake. 

Totally wrong I bash him because I find his insights to be poor

  • Like 1
Link to comment
Share on other sites

4 hours ago, elyowl1 said:

He pays 3 million to club for the ground, club pays him 3 million back on a loan. 

No money has gone anywhere in effect, like putting it into your savings account one day and sending it back to your current account the next. 

Simple analogy. 

 

Only issue is that the ground is owned by S3 and not SWFC 

Link to comment
Share on other sites

Guest Therealrealist
1 hour ago, wellbeaten-the-owl said:

Not at all its nothing to do with us per se, just find his accounts analysis very basic and not very insightful.

Agree wi this...plenty on here seem to know more than maguire re: our finances...he dosnt help himself when he says Sheffield 3 or 4...I’ve never heard of sheffield 4 tbh...even tho it wudnt surprise me if it does exist

Link to comment
Share on other sites

10 minutes ago, @owlstalk said:



Thread detailed 


Again


Pathetic

It's not what the article says is wrong, he is starting that every year whatever Sheffield 3 pays for the ground (by him) is always going to be paid back out to himself.

 

There is nothing in the accounts that states this at all.

 

What's he going to say next year when this doesn't happen?

 

It's all about cashflow, the payment schedule is set up so chansiri adds c£7m towards the club cashflow deficit (less annual rent) via the payment from Sheffield 3 rather than through en ever increasing director s loan account.

 

But in the 2020 year we had the João money from reading so instead took the Money back out through the loan account.

 

We know we don't get £7m transfer fees every year because DC doesn't like selling players so it's not right that he will just take the money back out every year as the cashflow deficit will need funding with it.

Link to comment
Share on other sites

Just now, wellbeaten-the-owl said:

It's not what the article says is wrong, he is starting that every year whatever Sheffield 3 pays for the ground (by him) is always going to be paid back out to himself.

 

There is nothing in the accounts that states this at all.

 

What's he going to say next year when this doesn't happen?

 

It's all about cashflow, the payment schedule is set up so chansiri adds c£7m towards the club cashflow deficit (less annual rent) via the payment from Sheffield 3 rather than through en ever increasing director s loan account.

 

But in the 2020 year we had the João money from reading so instead took the Money back out through the loan account.

 

We know we don't get £7m transfer fees every year because DC doesn't like selling players so it's not right that he will just take the money back out every year as the cashflow deficit will need funding with it.


 

Thanks mate 
 

I (as always) have no issue with anyone taking issue with a point he has made and welcome your post for getting us back on track


Thank you 👍


 


Owlstalk Shop

 

 

 

Link to comment
Share on other sites

Guest Therealrealist
4 minutes ago, wellbeaten-the-owl said:

It's not what the article says is wrong, he is starting that every year whatever Sheffield 3 pays for the ground (by him) is always going to be paid back out to himself.

 

There is nothing in the accounts that states this at all.

 

What's he going to say next year when this doesn't happen?

 

It's all about cashflow, the payment schedule is set up so chansiri adds c£7m towards the club cashflow deficit (less annual rent) via the payment from Sheffield 3 rather than through en ever increasing director s loan account.

 

But in the 2020 year we had the João money from reading so instead took the Money back out through the loan account.

 

We know we don't get £7m transfer fees every year because DC doesn't like selling players so it's not right that he will just take the money back out every year as the cashflow deficit will need funding with it.

Nice one pal...you and a few more on here know more about this poo than maguire does...and that’s the point I’m making

Link to comment
Share on other sites

2 minutes ago, @owlstalk said:


 

Thanks mate 
 

I (as always) have no issue with anyone taking issue with a point he has made and welcome your post for getting us back on track


Thank you 👍

Get your point that stating why I don't agree with what the pundit and why is better than just saying I think he's just a poor pundit

  • Love 1
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...