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Sheffield Wednesday

Discussion in 'Championship' started by Old codger, Nov 14, 2019.

  1. Old codger

    Old codger Super Whites

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  2. Old codger

    Old codger Super Whites

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    Derby next ?
     
  3. HPC2

    HPC2 29 years and counting

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    its a praise for the EFL
     
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  4. Milk

    Milk Registered User

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    Derby didn't purposely submit their accounts late and try to use the proceeds of the sale as part of last year's accounts.

    :fail:
     
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  5. Stan_Drews

    Stan_Drews *********

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    I blame the EFL not the clubs. No cant understands their rules. Look at us, docked 9 points for signing Pedersen yet the league registered him and let him play for us.

    The EFL are a joke
     
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  6. jonnyblade

    jonnyblade Registered User

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    Well, the EFL aren't really privy to your accounts at the time you sign a player, they don't really know if a club intends to sign one player and sell three.

    But Sheffield Wednesday should absolutely get the book thrown at them big time, they're being sponsored by non existent companies created by the Chairman as a way of trying to shove more money into buying players.
    They've delayed in submitting their accounts until the sale of the stadium went through, and then when the proceeds of the sale went through they've falsified last years accounts to include the sale of the stadium even though the stadium sale was completed in this years accounting period.

    And the proceeds of the sale was far in excess of what the stadium is worth, just enough to conveniently beat the FFP rules.

    If I was a fan of a club in the Championship I'd be raising hell to see that these cheats get docked points, especially if their shennanigans costs an honest club a play off place. Birmingham were docked 9 points for offences nowhere near as bad. So I think about 15 points, maybe 20 plus a transfer embargo for the next three years should suffice.
     
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  7. Stan_Drews

    Stan_Drews *********

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    The EFL had us on a transfer embargo at the time we signed Pedersen
     
  8. McKenna's Wand

    McKenna's Wand Registered User

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    Dock them, thanks.
     
  9. jonnyblade

    jonnyblade Registered User

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    Ahh, didn't realise that
    How did you manage to sign him ? It just shows what idiots are running football
     
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  10. Stan_Drews

    Stan_Drews *********

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    John I ain’t exactly sure how it happened but we got him whilst we were on an embargo but the bizarre thing is that the EFL then registered him to play for us. Then further down the road docked us points for signing him.

    Still don’t get that one
     
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  11. JoeProblemo

    JoeProblemo Registered User

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    Shocking. Sheff Wednesday should be fined and docked points. It's not fair that they can spend willy nilly on any player they want and then use dodgy accounting practices to cover their losses.

    Especially when clubs like mine are having to make do with Free Transfers form the MLS to be compliant.
     
  12. SpongeParr

    SpongeParr Registered User

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    Any club that breaches FFP are cheating bastards.
     
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  13. Milk

    Milk Registered User

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    Odds dropped from 66/1 to 16/1 for Wednesday to be relegated overnight.

    :laugh:
     
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  14. SWFC 66

    SWFC 66 Registered User

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    Lots of blades having fun with this thread.

    Fine us £99 million and relegate us to the conference, that should do it!
     
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  15. Sheffsteel

    Sheffsteel Registered User

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    The time line doesn’t look good for SWFC.

    Dec18- At the fans forum Chansiri is video recorded and quoted as saying there was a 8 figure shortfall in FFP and admitted that if they aren’t promoted in May19 then there will be serious implications to SWFC. The fans assumed they would need to sell all their best players in Jan19 to stay within the limit. There were no significant player sales so the fans assumed they’d be a facing a 9 point deduction. The deadline for the 17-18 was April19 and SW delayed giving their accounts to companies house until July19.

    July19- SWFC announce they’ve sold Hillsboro to a company owned by Chansiri for 60 million. The 17-18 accounts are also produced and surprisingly include the 60 million cash injection from the stadium sale meaning they have escaped the FFP points deduction.

    Although the sale of the stadium was registered/ finalised in June19 it seems that SW accountants are suggesting that the verbal agreement to sell Hillsboro was made between Chansiri and himself back in 2017-18, it’s been suggested that legally the sale can be shown in the 17-18 accounts. However the company buying Hillsboro is called “Sheffield 3 Limited” and if you look on the Companies House web site that company wasn’t set up until 26th June 2019.

    So an obvious question from the EFL is how did Chansiri verbally agree to sell the stadium to Sheffield 3 Ltd during the 2017-18 financial year if the buying company didn’t even exist. Also if Chansiri did sell the stadium to himself in 17-18 raising 60 million then why all the theatrics/ concerns in the fans meeting in Dec18 admitting that SW were set to fail FFP by 8 figures. Another concern is the stadium valuation of 60 million. Hillsboro is hemmed in with no additional land sat on a flood plain. It is also an old stadium with limited conference and banqueting facilities compared to modern stadia at Derby and Reading. So logic suggests an arms length valuation would be on the low side.

    To be fair the above seems like school boy errors and one would assume that the SW Chairman and his accountants know what they are doing. There is a silver lining for Owls fans, at least the EFL are trying to protect SW was running up massive debts to an irresponsible over spending owner.

    If there was no FFP control (which is like setting a spending limit on a credit card) then Sheff Wed could become another Portsmouth and although I don’t like SW I wouldn’t want them to risk going out of business. Clubs just need to learn to live within their means.
     
    #15 Sheffsteel, Nov 15, 2019
    Last edited: Nov 15, 2019
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  16. Owl1969

    Owl1969 Registered User

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    Tbf it would be exactly the same the other way round, it's what rivalry is all about.

    I find it the most "Wednesday" thing ever to see that other clubs have found a "loophole" in the system and copied it.
    Only to completely **** it up and put the accounts in the wrong years books.
    Ineptitude of the highest order typical Wednesday.
     
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  17. Stan_Drews

    Stan_Drews *********

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    I’ll be up there in a couple of weeks Owlie I’ll see what I can find out muck
     
  18. Old codger

    Old codger Super Whites

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    Hillsborough it’s so good they bought it twice.
     
  19. maybee

    maybee Registered User

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    This is what you get when Diane Abbott is your Financial Adviser
     
  20. Johnson Says

    Johnson Says Registered User

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    FFP is a load of bollocks that benefits the relegated clubs with their over generous and frankly unfair parachute payments
     
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