Tyler Durden Posted December 31, 2020 Share Posted December 31, 2020 I made comments about the post apropros the Sheffield Wednesday owners' press conference today and said that we should be getting our own house in order first and not worrying about what's happening in other clubs. Then this drops a few hours later. Whatever way you slice it is is extremely unprofessional and shoddy not to pay your employees on time whether they be millionaire footballers or on the minimum wage. Reflects very poorly on the club. Link to comment Share on other sites More sharing options...
Rev Posted December 31, 2020 Share Posted December 31, 2020 32 minutes ago, David said: Worth mentioning the embargo is only until the payment has been made. True. The window opens in less than 48 hrs though. Link to comment Share on other sites More sharing options...
Day Posted December 31, 2020 Share Posted December 31, 2020 Just now, Rev said: True. The window opens in less than 48 hrs though. Yeah, wouldn't be ideal, embargo is another word that freaks people out a little so just wanted to add that on Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted December 31, 2020 Share Posted December 31, 2020 It's be a bit extreme, but, not being paid is usually a good reason to not show up to work ? As advanced notice was given and it's likely to be resolved promptly it's probably not a big issue for the players. For the club and the takeover, it looks bad. Link to comment Share on other sites More sharing options...
JuanFloEvraTheCocu'sNesta Posted December 31, 2020 Share Posted December 31, 2020 28 minutes ago, Mucker1884 said: You don't know that. If I said to you "No, No, It's my round", would you assume I'd pay for the drinks? If I then ordered all the drinks, before realising I had forgotten to nip to the cashpoint/lost my wallet etc, I'm sure you'd chip in, because you're a good egg... but you wouldn't be obliged to, seeing as it was my responsibility! PS: You now owe me a pint... I think? ?? If Mel is still legally in charge of the clubs he is still legally obliged to pay the staff. If he has decided not to based on a promise from the prospective owners that has failed to materialise, then he is a fool. I like Mel for the most part but this simply not good enough. As for the pint, when we are allowed bsck in to pubs I'd gladly get you one in! Link to comment Share on other sites More sharing options...
JuanFloEvraTheCocu'sNesta Posted December 31, 2020 Share Posted December 31, 2020 27 minutes ago, Rev said: True. The window opens in less than 48 hrs though. If we can't pay the players due to the takeover then the window being open is presumably irrelevant. If the takeover doesn't go through we won't be signing anyone. Link to comment Share on other sites More sharing options...
G-Ram Posted December 31, 2020 Share Posted December 31, 2020 Just wondering how many people have bought a multi million pound business before ?♂️ be good to hear from someone on how it actually all works You can send large sums but it still takes a day or so to clear. Its not always instant like transferring personal money from a current account. They could have easily hit send but its not arrived. The valuation of a business can vary depending on net cash in bank being part of the deal (not sure if it is in this case) usually you draw up some books near the time of the deal & agree value of assets, net cash in bank etc. You wouldn't pay the staff out of your money if you thought the new owners coming in are paying it. I imagine the wage bill is a substantial cost its potentially coming off your profit from the sale if you pay it all for a few hours bank transfer delay. Link to comment Share on other sites More sharing options...
RoyMac5 Posted December 31, 2020 Share Posted December 31, 2020 2 minutes ago, G-Ram said: You can send large sums but it still takes a day or so to clear. Its not always instant like transferring personal money from a current account. They could have easily hit send but its not arrived. Thanks, perhaps you'd tell the new owners they appear not to realise. Link to comment Share on other sites More sharing options...
Rev Posted December 31, 2020 Share Posted December 31, 2020 3 minutes ago, G-Ram said: You wouldn't pay the staff out of your money if you thought the new owners coming in are paying it. I imagine the wage bill is a substantial cost its potentially coming off your profit from the sale if you pay it all for a few hours bank transfer delay. Surely a deal as complex as you say would include provision for refunding an extra months pay bill to Mel, precisely in case of such a snag. It really wouldn't take much extra work. After all, if Mel trusts the new owners enough to sell to them, he trusts them enough to refund any extra capital he's needlessly invested. Link to comment Share on other sites More sharing options...
DCFC27 Posted December 31, 2020 Share Posted December 31, 2020 11 minutes ago, G-Ram said: Just wondering how many people have bought a multi million pound business before ?♂️ be good to hear from someone on how it actually all works You can send large sums but it still takes a day or so to clear. Its not always instant like transferring personal money from a current account. They could have easily hit send but its not arrived. The valuation of a business can vary depending on net cash in bank being part of the deal (not sure if it is in this case) usually you draw up some books near the time of the deal & agree value of assets, net cash in bank etc. You wouldn't pay the staff out of your money if you thought the new owners coming in are paying it. I imagine the wage bill is a substantial cost its potentially coming off your profit from the sale if you pay it all for a few hours bank transfer delay. I haven’t but I’ve facilitated them and it very much depends on whether the money is coming from abroad or whether it’s already in a uk bank account. If it’s in the uk regardless of the amount it can go through within 24 hours. If it’s an international transfer then it can take upto 10 days. The receiving bank may even suspend the funds too until their legal team have reviewed the funds to ensure they aren’t facilitating money laundering etc. Primarily though the people doing it must be real amateurs or Mel has just taken them at their word and not put the money in the account for the players wages. Seems very toys and pram by Mel. It might not be his fault but it certainly isn’t the players and executives. Link to comment Share on other sites More sharing options...
G-Ram Posted December 31, 2020 Share Posted December 31, 2020 7 minutes ago, Rev said: Surely a deal as complex as you say would include provision for refunding an extra months pay bill to Mel, precisely in case of such a snag. It really wouldn't take much extra work. After all, if Mel trusts the new owners enough to sell to them, he trusts them enough to refund any extra capital he's needlessly invested. But there would have to be a contractual mechanism that would allow refunding & if you have already had the majority of the contact drawn up you're not going to go back to get one put in to delay further. Also if you were the buyer why would you sign up to it ?♂️ any other extra capital mel invest you'd refund. You could see how a dispute would arise if you didn't agree with what he invests if it was for something other than players wages Its why i put it'd be interesting to hear if anyone has been involved in takeovers and how they work. Imagine its quite complicated. I agree though not paying players on time looks pretty shoddy Link to comment Share on other sites More sharing options...
Mucker1884 Posted December 31, 2020 Share Posted December 31, 2020 22 minutes ago, JuanFloEvraTheCocu'sNesta said: If Mel is still legally in charge of the clubs he is still legally obliged to pay the staff. If he has decided not to based on a promise from the prospective owners that has failed to materialise, then he is a fool. I like Mel for the most part but this simply not good enough. As for the pint, when we are allowed bsck in to pubs I'd gladly get you one in! If, If, If... Schmiff! If my granny had been a fish, I'd have never learned to ride a bike! ... or summink? I'm sure Mel didn't get to where he is today by starting every sentence with "If..."! Anyway... Just a half for me... I've just discovered I can't handle a full pint anymore! ? Link to comment Share on other sites More sharing options...
Rampage Posted December 31, 2020 Share Posted December 31, 2020 1 hour ago, David said: Well thats a lie, I've taken more time away than ever these past few months. If you want to compliment anyone for the forum, direct it towards the moderators. I thought that your Rooney/Guardiola post was the post of the year and said so, David. I thought that the threads that you started recently were excellent. Just my genuine opinion. COYR. This forum has been such a lifeline to me over the last few months that it is difficult for me to put into words. I suspect a lot of people feel the same way. I sort of see you as the forum, David. The mods have indeed been brilliant. Happy New Year to everyone. Link to comment Share on other sites More sharing options...
uttoxram75 Posted December 31, 2020 Share Posted December 31, 2020 20 minutes ago, Rampage said: I thought that your Rooney/Guardiola post was the post of the year and said so, David. I thought that the threads that you started recently were excellent. Just my genuine opinion. COYR. This forum has been such a lifeline to me over the last few months that it is difficult for me to put into words. I suspect a lot of people feel the same way. I sort of see you as the forum, David. The mods have indeed been brilliant. Happy New Year to everyone. David runs this forum like Mel runs DCFC we haven't been paid either Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted December 31, 2020 Share Posted December 31, 2020 15 minutes ago, uttoxram75 said: David runs this forum like Mel runs DCFC we haven't been paid either Get clicking the ads or you'll be sent to the oatcake ! Link to comment Share on other sites More sharing options...
ram1964 Posted December 31, 2020 Share Posted December 31, 2020 5 hours ago, Sith Happens said: did you send The Bill to the wrong place ? The bill are normally in the wrong place? Link to comment Share on other sites More sharing options...
Derby blood Posted December 31, 2020 Share Posted December 31, 2020 No more excuses for Mel, he has done this before, I think our financially position is not good at all, Mel came with big ideas, wanted promotion so he could earn millions, now this has not happened he wants out, he is no mote a fan than thousands on here, yes he supports us, but how many years has he had a season ticket, has he been to 50 odd away grounds Before he became owner, Mel you took us over as a top 6 side, you are trying to leave us as a bottom 6 side, your ownership has been average at best. My opinion, and many more will have different ones to myself which is fine, I love Derby, and always will. So hope the new owners take us to the prem. Link to comment Share on other sites More sharing options...
jono Posted December 31, 2020 Share Posted December 31, 2020 Doubtless there are reasons. I am sure it will be sorted. It’s a good sign there was prior notice. It probably is a none story but it is pretty unprofessional and for me just looks a bit tacky and short sighted. Hope it’s a blip in the tangled commercial world rather than a portent of something else. Meh .. que sera sera Link to comment Share on other sites More sharing options...
SillyBilly Posted December 31, 2020 Share Posted December 31, 2020 I own 4 companies, not a deal on this scale but I've led multi-7 figure acquisitions before. I had my solicitors e-mailing me today to confirm (on new year's eve) management board minutes in order to process dividend in specie transactions on intercompany debt . I told them we had had the meetings (keeps them happy so that transactions don't get incurred in a new financial year). In reality they know and I know the meetings haven't taken place and we will backdate all of the paperwork when I get back on the 4th Jan. This is the reality of business over the Christmas and new year period, very few people are working and those that are will struggle to get much done. Closing a deal at this time is about as silly as it gets but it is what it is. This is unprofessional and wrong but I can understand it. Link to comment Share on other sites More sharing options...
Pearl Ram Posted December 31, 2020 Share Posted December 31, 2020 I’m not overly bothered about all this, if it happens, it happens, if it doesn’t, it doesn’t. Not much I can do about it personally but that written, they seemed to get their takeover sorted at Burnley during the Christmas/New Year period easily enough, just sayin’. Link to comment Share on other sites More sharing options...
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