Sheffield Wednesday's accounts for 2018/19

I know people say that they feel sorry for the fans of these clubs who continue to break the rules but do those same fans feel sorry for us who play fair and suffer the consequences. Were those Derby fans singing "We'll never play you again" feeling sorry for us?
I hate cheating and I really do hope that some/all of clubs such as Derby, Reading, Birmingham and especially the "Massives " go out of business.
In the words of the Immortal Bard








"**** Em"

 

It's not all the fans though and to quote Mr Bennett from Pride and Prejudice
For what do we live, but to make sport for our neighbours, and laugh at them in our turn?"

 

The Financial Statements are a picture in time. They are a statement of the affairs of a business at a point in time. Nothing can be altered by events that took place subsequently. If Chansiri had not paid off his debt to the club as at 31 July 2019, the Balance Sheet will show that fact. We do not know what has actually happened, because the Financial Statements have not been published yet. It is all speculation. We can only debate what may have happened, and be extremely skeptical of the motives.of Chansiri in not publishing.

The previous accounting year end was extended. The Financial Statements covered the period from 31 May 2017 to 31 July 2018. I suspect that they were trying to work out how they could avoid a points deduction, because they had exceeded the the losses allowed in the previous 3 years. I suspect that someone came up with a scheme to sell the ground to the owner for a vastly inflated sum, thereby generating a huge profit, and putting the club back in the black for the previous 3 years. At that point, Chansiri would have said, but I have not got that sort of money, and ideas man would have said, never mind, just leave it as a debtor until we think of something else. The EFL saw through the ruse, but the FFP rules did not foresee what might happen, so when the EFL challenged the arrangements, Wednesday would have said, well there is nothing in the rules, but the amount will be paid by the next year end in any event. The EFL backed off, and agreed to reduce the points penalty. However, the matter was not closed. It was simply parked until further evidence emerged. We are now at the point when that evidence is 6 months overdue, and we can only speculate what that evidence will reveal.

 

In this quote I believe sport to mean provide them with things to indulge in banter with them and not an actual physical activity. Wow this is a bit "In depth" for a Saturday morning nursing a thick head

 

That's right.. Taking the p*** out of the opposition fans and enjoying their embarrassing moments is all part and parcel of it.

 

just on the final part, the EFL didn’t back off. They applied a 12 point deduction, but that was reduced by an independent panel. If the independent panel hadn’t been requested, the full 12 point deduction would have applied.

I think the rest of your post is most likely accurate and when they do finally publish accounts, they will likely be in the same position again, facing EFL charges and points deduction.

 

The EFL could have appealed the decision of the independent panel. They did not do so, and their reasoning can only be assumed. It is my opinion that they did not do so because they were keeping their power dry. They knew that the matter was not closed and that there would be other opportunities.

Unlike many, I do not have a problem with our local rivals. I do not tend to bother about wind ups. However, I do have a problem with bad owners, and Chansiri is a bad owner. I actually feel sad for loyal fans when their club has been mis-managed, no matter who that might be. The fans cannot be expected to know anything about financial management. Others do that. They just want to watch a winning team.

 

Appealing an independent panel is laden with issues, but I feel generally the EFL aren’t acting how they should, largely because of the threat of the ‘bigger’ clubs forming a PL2.

There are so many insolvent clubs and neither auditors, nor authorities are fairly applying rules.

I hope to be wrong, but I fear their powder isn’t there, let alone dry.

 

I don't feel sorry for them!

PAY YOUR PLAYERS. LET THEM KNOW THEY'LL GET THEIR WAGE.

FEED THE PLAYERS. LET THEM KNOW IT'S FOOD BANK TIME.

 

That's quite good. I am laughing a little too much.

 

Thank God it's them instead of us.

 

It’s transfer time, there’s no need to be afraid
This transfer time, their funds are light and their hopes do fade
And in our world of plenty, we can spread a smile of joy
Laugh aloud at Piggies’ world, at transfer time

But say a prayer, pray for the Dee Dah ones
At transfer time, it’s hard but when we’re having fun
There’s no signings in their window
And it’s a time of dread and fear
When their players tell their agents, “FFS get me outa here”
And the only calls incoming
Are the clanging chimes of doom
Well tonight thank God it’s them - about time too!

And they won’t be signing anyone this transfer time
The only thing they’ll get this time is strife
The stands are rusted through, down at Hillsboroo
Do they know it’s transfer time at all?

Piggy world,
Are they fiddling their accounts again?
Piggy world
Are they fiddling their accounts again?
[and repeat]

 

yes but it wasn’t funny when we went down last time while the likes of Bolton stayed up by screwing the system

 

There’s no way this will happen, but Companies House have the power to strike off (ie dissolve) a company for non filing of statutory documents. When that happens any assets of the company then revert to the crown.

Wonder if Barry Bannan et al fancy playing for a new London based team managed by the Queen...