EFL appeal

[strawhillram]

3 hours ago, maxjam said:

It really is death from a thousand cuts...

https://www.skysports.com/football/news/11095/12317470/Derby-and-efl-wrangle-over-alleged-accounting-irregularities-could-last-months

 

I think you missed out an important “n”  in there

[G STAR RAM]

Right, let's all hold fire, it appears there has been a big mistake!

After months of calling us 'Big spending Derby' and pointing out how poorly run we are, it appears that the Daily Fail now believe that we are on a tight budget. 

Amazing how quickly the narrative can be changed when one of the media darling is involved!

[Tamworthram]

2 hours ago, RadioactiveWaste said:

We are currently under one for not submitting our due accounts for last year. In January we were under one because of unpaid wages.

We're not under an embargo as part of this ruling is my understanding, but I could be wrong on that if I've missed something.

It might also be the case we need the EFL issue resolving before we can submit our accounts, giving the de facto embargo.

I don’t know any differently but, are we sure a) we’re under a transfer embargo and if so b) it’s because the club hasn’t submitted accounts? 
 

Our accounts are now 11 months overdue so, why haven’t we been under embargo all that time?

 

[Comrade 86]

3 hours ago, G STAR RAM said:

After months of calling us 'Big spending Derby' and pointing out how poorly run we are, it appears that the Daily Fail now believe that we are on a tight budget. 

Amazing how quickly the narrative can be changed when one of the media darling is involved!

Uncanny huh! Almost as if they just make it up as they go along ?‍♂️

[RadioactiveWaste]

1 hour ago, Tamworthram said:

I don’t know any differently but, are we sure a) we’re under a transfer embargo and if so b) it’s because the club hasn’t submitted accounts? 
 

Our accounts are now 11 months overdue so, why haven’t we been under embargo all that time?

 

I'm not sure about that but I remembered this story about filing accounts:

https://www.dailymail.co.uk/sport/football/article-9439809/Coventry-City-placed-transfer-embargo-EFL-failing-file-annual-accounts.html

[Carnero]

Cough cough

@Steve_Gibson

Edited May 27, 2021 by Carnero

[RadioactiveWaste]

13 minutes ago, Carnero said:

Cough cough

@Steve_Gibson

Mr Parry, it's Steve Gibson....on the Gibphone!

"I'll take it in Gibcave, bobbins"

[Mostyn6]

1 hour ago, RadioactiveWaste said:

Mr Parry, it's Steve Gibson....on the Gimp-phone!

"I'll take it in Gimp-cave, bobbins"

FTFY

[RoyMac5]

1 hour ago, Carnero said:

Cough cough

@Steve_Gibson

So how much will we be able to 'write down' then - we could easily say Waghorn was impaired, Lawrence too! 

[Carnero]

2 minutes ago, RoyMac5 said:

So how much will we be able to 'write down' then - we could easily say Waghorn was impaired, Lawrence too! 

How long is a piece of string!

Every club will take advantage of this covid exception rule if they've got any sense.

We'll be the only one charged though ?

[Van der MoodHoover]

Ludicrous claim. If it has any basis whatsoever (the only one I can think of is immediately writing players down to 0 on the basis that Covid-19 has wiped out the transfer market cos no team has any cash) then it has to apply to every team identically. 

[DCFC1388]

With regards the Sky Sports article yesterday, that is purely worst case scenario, that is basically IF we get a punishment that we want to appeal, and then IF we re-submit our accounts, fail P&S, get a punishment then appeal that again.

However, it could also be that the DC including an accountant stick to their original ruling and maybe give us a slap on the wrist = no appeal. Then if we do have to resubmit our books, i'm sure the club have said previously we would still fall within the £39m loss limit, if they're right, again that will mean no punishment = no appeal.

So it could be resolved quickly, or worst case it gets dragged out. But none of this currently puts us in an embargo. The embargo is due to the accounts being submitted late as per the governments guidance not the EFL's, for all we know we may have now submitted these and have no embargo.

[duncanjwitham]

15 minutes ago, Van der MoodHoover said:

Ludicrous claim. If it has any basis whatsoever (the only one I can think of is immediately writing players down to 0 on the basis that Covid-19 has wiped out the transfer market cos no team has any cash) then it has to apply to every team identically. 

And of course, using the transfer market (i.e. potential resale values) to calculate player book values is very, very explicitly what we lost the appeal on.

[StarterForTen]

4 minutes ago, DCFC1388 said:

for all we know we may have now submitted these and have no embargo.

Absolutely - the summer transfer window does not officially open until June 9th so it matters not at the moment.

And most players we might be interested in (ie those not commanding a fee!) will be under contract with current clubs until June 30th.

[Van der MoodHoover]

7 minutes ago, duncanjwitham said:

And of course, using the transfer market (i.e. potential resale values) to calculate player book values is very, very explicitly what we lost the appeal on.

Exactly so. If Stoke have deviated at all from the EFLs apparently preferred "straight line method" then presumably they'll be up before the accountancy beak. 

But if not, then the EFL or whoever have to rule on the allocation of amortisation losses-even if said losses were calculated "correctly" - to a cause that allows them to bob and weave around the ffp rules.... 

[Ghost of Clough]

8 minutes ago, Van der MoodHoover said:

Exactly so. If Stoke have deviated at all from the EFLs apparently preferred "straight line method" then presumably they'll be up before the accountancy beak. 

But if not, then the EFL or whoever have to rule on the allocation of amortisation losses-even if said losses were calculated "correctly" - to a cause that allows them to bob and weave around the ffp rules.... 

Impairment is a common part of amortisation policies - although it's usually as a result of relegation from the PL and included in the P&S figures.

[Ghost of Clough]

Despite making a £55m P&S loss in 19/20 (if the Covid impairment stands), I believe they'll still be £35-40m within the limits based on the 4 year cycle due to Covid. Non-Covid 3 year cycle would have been £25m over the limit.

If i was Gibson, I'd be suspicious they put the impairment in this year to avoid having it count against them in future seasons...

[Spanish]

40 minutes ago, DCFC1388 said:

 

However, it could also be that the DC including an accountant stick to their original ruling and maybe give us a slap on the wrist = no appeal. Then if we do have to resubmit our books, i'm sure the club have said previously we would still fall within the £39m loss limit, if they're right, again that will mean no punishment = no appeal.

So it could be resolved quickly, or worst case it gets dragged out. But none of this currently puts us in an embargo. The embargo is due to the accounts being submitted late as per the governments guidance not the EFL's, for all we know we may have now submitted these and have no embargo.

The EFL will appeal that I suspect

[DCFC1388]

5 minutes ago, Spanish said:

The EFL will appeal that I suspect

They cannot appeal the punishment as far as I am aware, only we can

[Spanish]

18 minutes ago, DCFC1388 said:

They cannot appeal the punishment as far as I am aware, only we can

sorry this has never been confirmed, happy if you can prove it.

The LAP had the power to enforce a penalty but as that did not allow an appeal they thought it unfair.  They referred this to the EFL who allowed the LAP to transfer the decision to the IDC.  Not sure why the EFL have made such a decision as it is an advantage to us for that to happen.  This is all fact.

Given this I doubt until proven otherwise that they have no right of appeal.  Maybe I'm wrong but it is very odd