Chansiri - The Beginning of the End

[TrickyTrev]

6 hours ago, HarrowbyOwl said:

One of the other clauses of the bill involves owners depositing enough money into a reserve buffer to cover running costs of the club for a period.

That is to stop owners simply turning off the tap (as Mr C threatened) and leaving the club in the lurch.

Presumably the trustees will be able to use that reserve. There's a lot of detail in the bill that I haven't fully understood yet.

I'm hoping Nic De Marco will do an an analysis of the actual bill as he did with an excellent analysis of the White Paper

What are the odds on a statement asking the fans for £2m to put in this reserve buffer?

 

‘If you say you are the owner and I am the custodian, then show me how to be the good owner and put £2m into this bank account’ 

[Inspector Lestrade]

1 hour ago, Roscoe P. Coltrane said:

Take no notice mate

He's not worth engaging with...

 

Watch this space. 

[HarrowbyOwl]

44 minutes ago, Utah Owl said:

Think the family will intervene if there is any danger of that happening. It would be too damaging to their other businesses given their overall reputation is already tarnished.

What you think the family could intervene to overturn a decision of a UK regulator? I don't think so.

The many TUG global brands are not really associated with the Chansiri name. Not sure anyone associates brands like John West with TUG even. Had you heard of TUG before Chansiri pitched up, let alone of the Chansiri family who own 19% of TUG?

[Utah Owl]

4 minutes ago, HarrowbyOwl said:

What you think the family could intervene to overturn a decision of a UK regulator? I don't think so.

The many TUG global brands are not really associated with the Chansiri name. Not sure anyone associates brands like John West with TUG even. Had you heard of TUG before Chansiri pitched up, let alone of the Chansiri family who own 19% of TUG?

You misunderstood. 

 

The family will have absolutely zero power or influence with the UK regulator, however they will have personal influence with DC, especially if as we suspect all his money comes from them.

 

The last thing they will want is bad publicity caused by him.

[HarrowbyOwl]

1 minute ago, Utah Owl said:

You misunderstood. 

 

The family will have absolutely zero power or influence with the UK regulator, however they will have personal influence with DC, especially if as we suspect all his money comes from them.

 

The last thing they will want is bad publicity caused by him.

Sorry mate, I'd misunderstood what you said. 

Sources of owner funding will be part of the new owners and directors tests, so maybe the 9 years of guessing about the source of Mr C's wealth will soon be over.

Let's hope the family do call time on him.

[Harrysgame]

1 hour ago, Lawrie’s Left Peg said:

To be fair, if you read it, it doesn’t say anything. 
The water industry, energy industry and rail industry have independent regulators. 
Yet we still have sewage in our water, record profits and dividends and overcrowded trains running late if at all. 
Toothless tigers, advisory bodies at best and open to corruption. They all have bills and page after page after page of legalise too…..

You have a point, ofgen, ofwat and others and still have poor quality and high prices. I guess a new football regulator will hand out a few fines etc etc tell everyone all what a great job they are doing, get a big salary and fumble any big decisions when it's a big club.

[Sir Says]

18 hours ago, Wynyard Owl said:

Why did our beloved Chairman buy the club?  Has any one ever asked?

It couldn’t have been for love

What did the Tuna man know about us. Next to nothing I would wager before he  took the plunge

It could have been an ego trip 

if thats the case,then, until Daddies dosh runs out we will continue to see the name Chansiri plastered here there and everywhere in the ground regardless of our situation

UTO

My working assumption is that he bought as a gamble, had he got us promoted then it would have been quids in.

 

It wasn't so he is now so deep in his only way out is to cut costs and pray for a miracle. 

 

I wouldn't be surprised if he thinks Danny is his miracle and we'll get promoted next season. 

[Lawrie’s Left Peg]

2 hours ago, HarrowbyOwl said:

Its impossible to read the bill and come to that conclusion.

Please name / highlight one actual legally binding power that the regulator will have to implement change. to educate me. 

[nile]

20 hours ago, Orlando_Trustful said:

The biggest question is what will they actually do to get rid of owners of like him or the Reading guy.

 

It is all well and good talking about it and issuing threats, but I am still skeptical they will actually be able to get rid of incompetent owners. 

They won’t have the power remove incompetent owners but they will have the power to make life very uncomfortable for them.

 

My biggest concern is what the sanctions will consist of.

Any sanctions needs to be against individuals/group owners and not the club, it will be a fine balance.

[nile]

29 minutes ago, Lawrie’s Left Peg said:

Please name / highlight one actual legally binding power that the regulator will have to implement change. to educate me. 

It is all in the legislation, proof of funds, proof of out goings/incomings, organisation structure, they will have to be 100% transparent.

 

I regulate the biggest businesses in the world for work and the businesses take it very seriously, it is not something any owner can take lightly.

[SiJ]

20 hours ago, Furious George said:

Lowest point for me as a fan. 

 

Multi-millionaire saying he has cash flow problems asking the fans of the club to chip in for him to pay his tax bill, during a cost of living crisis. 

 

Even writing that I'm so angry I could crush a grape. 

Allegedly, all of those things had been paid for too - staff, tax bill etc.,before that statement was made. 

 

That was from someone who does work for the club. 

 

It was an appalling thing to do.

 

 

[SwellOwl]

We can only dream.

[sexpistol]

21 hours ago, Furious George said:

Lowest point for me as a fan. 

 

Multi-millionaire saying he has cash flow problems asking the fans of the club to chip in for him to pay his tax bill, during a cost of living crisis. 

 

Even writing that I'm so angry I could crush a grape. 

What about ‘ripping a tissue’ ?

[Costello 77]

56 minutes ago, nile said:

It is all in the legislation, proof of funds, proof of out goings/incomings, organisation structure, they will have to be 100% transparent.

 

I regulate the biggest businesses in the world for work and the businesses take it very seriously, it is not something any owner can take lightly.

What legistration is involved here?

 

[Costello 77]

Just now, Costello 77 said:

What legistration is involved here?

 

Legislation.

[Lawrie’s Left Peg]

9 hours ago, nile said:

It is all in the legislation, proof of funds, proof of out goings/incomings, organisation structure, they will have to be 100% transparent.

 

I regulate the biggest businesses in the world for work and the businesses take it very seriously, it is not something any owner can take lightly.

Are any of the businesses you regulate owned by an individual? Can you legally force that individual to sell their business? Can you legally force that individual to comply with your regulations? How was the regulated CEO of Thames Water paid £850,000 with a bonus of 1.3m, paying dividends of £37.5m, accruing £14bn of debt whilst simultaneously breaching regulations and increasing the prices its customers pay by in excess of 5%?? 

[Macallister]

Whilst it remains to be seen if the Regulator will actually be effective, there is no doubt that Wednesday, having been singled out for comment so far will be high on their target list. If they can and do implement the rules Chansiri fails on every point:

1. Strategic plan - we don’t have one - failed

2. Corporate Governance - none in place - failed

3. Management structure ( ref Danny’s recent comments in German press) - we don’t have one - failed

4. Fan representation - only officially recognised fan body, SWFC Trust - banned from meetings - failed. 
5. Consulting fans on major changes, e.g. ground sale, change of badge - no consultation - failed

 

He will presumably have to apply for a licence when all the above will be checked. Do we think he will put in place all that is needed to correct these deficiencies - look at our experience over the last 9 years - answer NO. They will probably give him a number of months to correct shortcomings which will receive much publicity, alerting those willing to buy for a realistic price the chance to prepare.

 

If the licence is refused the club will yield no value for him, so he will be forced to sell before this happens. He’ s between a rock and a hard place. 
 

He will not like this one bit and I think we might soon get some bizarre uttering from him. We will see. If he remains silent then there must be something happening regarding a sale in the background already.

 

 

 

 

 

 

 

 

[Nero]

28 minutes ago, Lawrie’s Left Peg said:

Are any of the businesses you regulate owned by an individual? Can you legally force that individual to sell their business? Can you legally force that individual to comply with your regulations? How was the regulated CEO of Thames Water paid £850,000 with a bonus of 1.3m, paying dividends of £37.5m, accruing £14bn of debt whilst simultaneously breaching regulations and increasing the prices its customers pay by in excess of 5%?? 

You are missing the point (because you are blinded by Offwat Offcom etc.).

 

The IRF won't legally force the owner to sell their business, they will legally remove their licence to be part of the competition (eventually - after trying to persuade the owner to comply). Thus making the business effectively worthless.

 

I work with businesses under several regulatory regimes and the businesses themselves make sure they comply or they die. Its not that complicated.

 

The alternative is self regulation which the EPL and EFL are operating at the moment and is failing. 

 

[longreach]

14 minutes ago, Macallister said:

Whilst it remains to be seen if the Regulator will actually be effective, there is no doubt that Wednesday, having been singled out for comment so far will be high on their target list. If they can and do implement the rules Chansiri fails on every point:

1. Strategic plan - we don’t have one - failed

2. Corporate Governance - none in place - failed

3. Management structure ( ref Danny’s recent comments in German press) - we don’t have one - failed

4. Fan representation - only officially recognised fan body, SWFC Trust - banned from meetings - failed. 
5. Consulting fans on major changes, e.g. ground sale, change of badge - no consultation - failed

 

He will presumably have to apply for a licence when all the above will be checked. Do we think he will put in place all that is needed to correct these deficiencies - look at our experience over the last 9 years - answer NO. They will probably give him a number of months to correct shortcomings which will receive much publicity, alerting those willing to buy for a realistic price the chance to prepare.

 

If the licence is refused the club will yield no value for him, so he will be forced to sell before this happens. He’ s between a rock and a hard place. 
 

He will not like this one bit and I think we might soon get some bizarre uttering from him. We will see. If he remains silent then there must be something happening regarding a sale in the background already.

 

 

 

 

 

 

 

 

This is my understnding as well.

[Geedee]

I wish the regulator good luck.

They are going to need it they are up against some powerful people with very good legal teams.

 

Wednesday are sadly small potatoes in this. The bigger fights are further up the football pyramid.