Davefevs

Whatever happens, it must be sorted by 31st Dec. Teams in the Championship must know the fate of SW before the Window opens, it could influence a team’s recruitment / trading plans.

If they are guilty of not just ffp but also fudging it, I think we can expect to see something in the region of 15-21 points ?

As an outsider looking in....no way the EFL go down this route if SW aren’t up shit-creek. Points deduction, embargo, might need fire-sale in window??? Apologies to Owls fans looking at this, it’s you guys that suffer....and although a very different era and circumstances we had our own problems in 1980s.

Chansiri also charged with misconduct.....apologies if this is old news! https://www.telegraph.co.uk/football/2019/12/02/exclusive-sheffield-wednesday-chairman-could-banned-football/ Dejphon Chansiri, the Sheffield Wednesday owner, is facing further scrutiny after being charged with misconduct by the English Football League. The Daily Telegraph can reveal that Chansiri, finance director John Redgate and Wednesday’s former chief executive, Katrien Meire, have all been charged and could be banned from football if found guilty by an independent panel. The charges by the EFL are understood to relate to the controversial £60 million sale of Hillsborough to Chansiri. Wednesday insist they will “vigorously defend” the sanctions, which could include a heavy points deduction, but Chansiri, the Thai businessman, plus Redgate and Meire are also under the microscope. The charges the trio face are believed to have been relayed to the club on Nov 14, the same day the EFL announced its decision to charge Wednesday with misconduct. Redgate stepped down from the club’s board of directors last year but remains the finance director, while Meire, who held a similar role at Charlton Athletic, left Wednesday in February. Chansiri has been Wednesday’s owner since 2015 and infuriated many rival Championship clubs when he agreed the sale of Hillsborough to help record a pre-tax profit of £2.5 million in the 2017-18 accounts. Land Registry documents revealed the stadium’s sale appeared to be completed the following year and the EFL subsequently charged the club with misconduct following a lengthy investigation. It is alleged that Chansiri sold the stadium to avoid breaking the EFL’s new profitability and sustainability rules. Wednesday are thought to be ready to contest the charges. Birmingham City became the first club to be punished for breaching spending rules when they were docked nine points towards the end of last season. The new rules dictate that Championship clubs are permitted to lose a maximum of £39 million over three years. Wednesday declined to comment on the charges. The club are ninth in the table, two points adrift of the play-off positions.

Exactly my thoughts too.

I guess there’s two sides to this: the companies house official accounts FFP submission for 1. All the accounting principles can be followed legally. for 2. It seems like there is quite a big grey area.

I’ll let you read fully and summarise! ?

@Mr Popodopolous so Villa reduce value whilst still with Prem money, knowing that should their gamble of getting back not work, they’ll revalue to cover the deficit.

You beat me to the link. the net is tightening, suggesting Gibson’s attempt to sue the EFL is Having knock on impacts.

Mmmmmmm!!!! Mmmmmmm!!!!

Makes you wonder whether they passed on details to the Premier League to deal with, perhaps knowing they couldn’t do anything about it during last season..

At least we’ll get closure on this one at some point.

Possibly passed on to PL to investigate....out of EFL jurisdiction at the mo? Just imagine if it’s valued less that £40m ???

@DerbyFan this looks interesting!

30 minute listen. MacAnthony not everyone’s cup of tea, but some interesting ideas, but also insight into some if the rules and regs that cause problems in solving the likes of Bury and Bolton’s financial issues. I don’t agree with all of them, but worth half an hour imho.

So, it sounds like he then asked for more money. Disgrace.

Here we go then. This from a sensible Villa fan who understood their own financial position under Tony Xia. All becoming clearer what a tosser Steve Dale is and Stewart Day too.

Two seasons ago I tweeted “Bury are going for it big time!”, some of the players they signed looked out of kilter with their standing! So wouldn’t surprise me. Re contracts. Jack Rodwell’s contract allegedly had a 12 month wage reduction deferral in case they went straight back up. Hence he was still on £70k per week when they got relegated to Lg1 ?

For those of you interested and who like David Conn the journo, read his book - The Beautiful Game. It was what sparked my interest in football finances / football business. Simon Jordan's autobiography is very good too, and for those if you who think he’s a suntanned knobhead, you may change your mind. I did. Back to Conn, his explanation of David Dein (Arsenal) removing the 2.5% director dividend maximum partly led to Irving Scholar (Spurs) using the holding company method as a way of getting money out of football clubs and therefore it’s attractiveness to outside investors. The day of the local wealthy businessman owning his local club for a long term gain of small amounts was over. Enter Abramovic etc. Not all have been bad, appears the late Leicester owner was a good guy, but it has led to money finding itself a way out of football quicker than before and leaving debt and devastation in some cases behind. Don’t blame Sky for it all. That is too easy and unfair. They are part of the problem, but they aren’t the ones overspending. That’s the clubs / owners and decision makers like Dein before!!!

I thought I read that 75% of creditors had to agree, and the 75% was of creditors not related / connected ?

In my very naive world, that’s one team in Lg2 that won’t get relegated this season, no relegation at all if Bolton cold too. If this means some owners don’t have to gamble their league status and bigger debt this season, it might be a small crumb of comfort. There are of course other knock-ons to other Lg1 clubs: each team will now only play 22 (21 if Bolton too)home games, that’s 5% (10% if Bolton) lost income (gate receipts, sponsorship etc) would season ticket holders be liable for a reduction as they’ve pre-paid 23 games? Trivial matter I know, but still something to consider.

Looks like he’ll be asking his son-in-law for a cut of the money he’s made!

Jeez ????? words fail me.

What does Steve Dale now stand to gain? That’s the bit I’m keen to understand. Was it predominantly Stewart Day that caused the problems. How much money has he put in? Other than his £1? Has he lost anything? He told Jim White that he’d put up security with the PFA, so that they would pay some of players wages. Is this true? The CVA was allegedly agreed because the creditors agreed to 25p in the £. Yet stories that the creditors was connected to him and paid £70k for £7m debt, which would be worth £1.75m at 25p/£.. If this is true, I suspect he’s a worried man. I hope the truth comes out. Newport losing in play-offs too. Notts County and Yeovil going out of the league.

Will be very interesting. Mark Warburton, ex-City Trader, should have some opinion.