G STAR RAM Posted November 15, 2019 Share Posted November 15, 2019 7 minutes ago, rynny said: From everything I have read, the transfer date falls within the ffp/p&s end date for the same period. I would imagine it will be the same date, or very close to it. This is where Sheff Wed have messed up, they have "sold" their ground in the 18/19 season but put it in their accounts for the 17/18 season. On closer inspection what seems to have happened is as follows:- 1 - Company year end was 31st May 2018 2 - On 26 June 2018 ground was sold (this is my guess not fact) 3 - On 27 February 2019 the company year end was retrospectively changed to 31 July 2018 so as to include the profit from the sale of the ground Based on this it would look like the EFL are querying the year end being changed to get the profit into the 2018 accounts. Link to comment Share on other sites More sharing options...
Sparkle Posted November 15, 2019 Share Posted November 15, 2019 12 minutes ago, rynny said: From everything I have read, the transfer date falls within the ffp/p&s end date for the same period. I would imagine it will be the same date, or very close to it. This is where Sheff Wed have messed up, they have "sold" their ground in the 18/19 season but put it in their accounts for the 17/18 season. And interesting is the reported fact that he is buying it over an 8 year period - the be fair to the Sheffield Wednesday fans they seem to have an owner who either has or has not got any actual money ? as they are on the hook for everything he has apparently put in which I believe to be around £75 million - who knows how his control of them will pan out but I would be very worried if I was one of them but I am not and I have reassurance that we are currently owned by a local man who genuinely cares about the club and it’s future. Link to comment Share on other sites More sharing options...
G STAR RAM Posted November 15, 2019 Share Posted November 15, 2019 10 minutes ago, Sparkle said: And interesting is the reported fact that he is buying it over an 8 year period - the be fair to the Sheffield Wednesday fans they seem to have an owner who either has or has not got any actual money ? as they are on the hook for everything he has apparently put in which I believe to be around £75 million - who knows how his control of them will pan out but I would be very worried if I was one of them but I am not and I have reassurance that we are currently owned by a local man who genuinely cares about the club and it’s future. It looks to me like the club owe him £77m but he owes them £52m for the ground. Link to comment Share on other sites More sharing options...
Sparkle Posted November 15, 2019 Share Posted November 15, 2019 26 minutes ago, G STAR RAM said: It looks to me like the club owe him £77m but he owes them £52m for the ground. Pretty much, but where is the actual cash? Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted November 15, 2019 Share Posted November 15, 2019 29 minutes ago, Sparkle said: Pretty much, but where is the actual cash? Its tied up in lawsuits pertaining to copyright with respect to Wednesday fans song production which has been unrepentantly ripped off by some of the greats of music as well as other fans. Think of a song. Any song. Wednesday fans wrote it. From "yesterday" to closer" by nine inch nails, a tango tinged tubby songsmith from South yorkshire penned it. Link to comment Share on other sites More sharing options...
G STAR RAM Posted November 15, 2019 Share Posted November 15, 2019 58 minutes ago, Sparkle said: Pretty much, but where is the actual cash? No cash required really as one offsets against the other, leaving the club still owing him some £20m. Link to comment Share on other sites More sharing options...
cosmic Posted November 15, 2019 Share Posted November 15, 2019 2 hours ago, G STAR RAM said: Decided to stop being lazy and do some research myself. Accounts were signed off very late this year (July instead of April). Legal charge over the ground was released on 25 June 2018, cant be bothered to pay £3 to see if this is the date the transfer took place on Land Registry records. Accounts do not say who the ground was sold to. Does not mention the sale in related party transactions or transactions with directors. The accounts have been audited and, for a transaction of this size, there must have been evidence that it was being recorded in the correct year or the audit report would have been qualified. So you stopped being lazy, but decided to remain a tight git! Link to comment Share on other sites More sharing options...
uttoxram75 Posted November 15, 2019 Share Posted November 15, 2019 3 hours ago, Van Cone De Head said: Hi ho points deduction! You're everywhere and nowhere Wendy, did you not pay tax?, Going down a bumpy hillside, ffp is max, Flying across the country, your accountant’s lax, Saying everything is groovy, when your tires are flat And it's high ho points deduction, League one you’ll go now Wendy, I see your owl is crying And we don’t give a toss, though it's obvious… Link to comment Share on other sites More sharing options...
Inverurie Ram Posted November 15, 2019 Share Posted November 15, 2019 Your ground.......his ground, who's ground?, perfect owl sound, songs and chants get a copyright, FFP just a bit tight, sold for a few pound is that right?, 70 to 75 mill?, who you gonna kill, blade busters..........is too big for you! Link to comment Share on other sites More sharing options...
Coneheadjohn Posted November 15, 2019 Share Posted November 15, 2019 I’m thinking I can make them throw one without saying anything. Just a dance? If I do this into the break room? Link to comment Share on other sites More sharing options...
RamNut Posted November 15, 2019 Share Posted November 15, 2019 10 hours ago, G STAR RAM said: Going from memory here but I think this was announced in March of this year but when I checked Land Registry records it had happened 9 months before, which would have been June 2018. Not certain on my dates but will check later. And why wasn’t it announced? Link to comment Share on other sites More sharing options...
bigbadbob Posted November 15, 2019 Share Posted November 15, 2019 14 hours ago, oomarkwright said: Will we be next? No Link to comment Share on other sites More sharing options...
G STAR RAM Posted November 16, 2019 Share Posted November 16, 2019 13 hours ago, RamNut said: And why wasn’t it announced? No idea, may have been waiting for clearance from EFL maybe? Link to comment Share on other sites More sharing options...
Coneheadjohn Posted November 16, 2019 Share Posted November 16, 2019 21 hours ago, uttoxram75 said: You're everywhere and nowhere Wendy, did you not pay tax?, Going down a bumpy hillside, ffp is max, Flying across the country, your accountant’s lax, Saying everything is groovy, when your tires are flat And it's high ho points deduction, League one you’ll go now Wendy, I see your owl is crying And we don’t give a toss, though it's obvious… I’ve just done a rendition of it and it didn’t go well...the Blades enjoyed it. Link to comment Share on other sites More sharing options...
Spanish Posted November 17, 2019 Share Posted November 17, 2019 On 15/11/2019 at 15:54, G STAR RAM said: On closer inspection what seems to have happened is as follows:- 1 - Company year end was 31st May 2018 2 - On 26 June 2018 ground was sold (this is my guess not fact) 3 - On 27 February 2019 the company year end was retrospectively changed to 31 July 2018 so as to include the profit from the sale of the ground Based on this it would look like the EFL are querying the year end being changed to get the profit into the 2018 accounts. Isn’t this bit odd? Most clubs appear to have ye May or June. I wonder how anybody could justify July? If they had gone to end of June well ok but July? Starting to be a little concerned. Link to comment Share on other sites More sharing options...
G STAR RAM Posted November 17, 2019 Share Posted November 17, 2019 1 hour ago, Spanish said: Isn’t this bit odd? Most clubs appear to have ye May or June. I wonder how anybody could justify July? If they had gone to end of June well ok but July? Starting to be a little concerned. That is Sheff Wed I am talking about not DCFC. We have a June year end. Link to comment Share on other sites More sharing options...
Spanish Posted November 17, 2019 Share Posted November 17, 2019 1 hour ago, G STAR RAM said: That is Sheff Wed I am talking about not DCFC. We have a June year end. sorry Link to comment Share on other sites More sharing options...
G STAR RAM Posted November 17, 2019 Share Posted November 17, 2019 4 minutes ago, Spanish said: sorry No need for apologies. Like you say (Richard Keogh style) it seems weird that Sheff Wed moved their year end to July when everyone else is May/June year end, and coincidentally I'm sure, the year end move helped them get the profit on the sale of the ground into their accounts! If I remember correctly, the sale of our ground was around the same time, wonder if they got wind of it and decided to copy us? Link to comment Share on other sites More sharing options...
Spanish Posted November 17, 2019 Share Posted November 17, 2019 3 minutes ago, G STAR RAM said: No need for apologies. Like you say (Richard Keogh style) it seems weird that Sheff Wed moved their year end to July when everyone else is May/June year end, and coincidentally I'm sure, the year end move helped them get the profit on the sale of the ground into their accounts! If I remember correctly, the sale of our ground was around the same time, wonder if they got wind of it and decided to copy us? exactly my view when I misread. Looks and probably is very dodgy. Hard to see any other reason than the one that is obvious Link to comment Share on other sites More sharing options...
richinspain Posted November 17, 2019 Share Posted November 17, 2019 1 hour ago, G STAR RAM said: No need for apologies. Like you say (Richard Keogh style) it seems weird that Sheff Wed moved their year end to July when everyone else is May/June year end, and coincidentally I'm sure, the year end move helped them get the profit on the sale of the ground into their accounts! If I remember correctly, the sale of our ground was around the same time, wonder if they got wind of it and decided to copy us? I wondered when nothing was said at the fan's forum and a few days later the news was broke, if it was to not give the option for others to do the same (this with hindsight obviously, not at the time ?) Link to comment Share on other sites More sharing options...
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