Transfer Embargo

[angieram]

5 minutes ago, Ellafella said:

Precisely. It seems to be that the EFL haven’t extended a deadline that the Government has given for companies to file their accounts. For reasons best known to themselves so probably just an administrative technicality but further evidence that although the “lights are on at the EFL, nobody is actually at home”. ?‍♂️ 

 

[Curtains]

The EFL are absolutely out of order. 
 

How can they do this to clubs during a pandemic 

[ThePrisoner]

6 minutes ago, Curtains said:

The EFL are absolutely out of order. 
 

How can they do this to clubs during a pandemic 

But you can’t sign anyone until summer anyway. So the embargo is a bit ridiculous. 

[Curtains]

13 minutes ago, ThePrisoner said:

But you can’t sign anyone until summer anyway. So the embargo is a bit ridiculous. 

So if it’s true what’s the point of it !

Is it the EFL flexing its muscles for the sake of it again 

I mean what is this 

'Coventry City can confirm that it has been placed under a transfer embargo by the EFL.

'The Government, due to the Coronavirus crisis, allowed companies to extend the deadline to file company accounts by three months and Coventry City chose to take up this option.

'Unfortunately the EFL has decided not to replicate this extension within their own rules, which surprises us as they have amended a number of other rules due to the Coronavirus pandemic.

[Tamworthram]

3 minutes ago, Curtains said:

So if it’s true what’s the point of it !

Is it the EFL flexing its muscles for the sake of it again 

It seems to all relate to delayed filing of accounts so, whilst the embargo is ineffective now due to the window being closed, it will remain in force until the accounts are filed. 
 

If that happens to be the case then, it should be pretty much a non issue provided accounts are filed well before the transfer window reopens.

[Curtains]

4 minutes ago, Tamworthram said:

It seems to all relate to delayed filing of accounts so, whilst the embargo is ineffective now due to the window being closed, it will remain in force until the accounts are filed. 
 

If that happens to be the case then, it should be pretty much a non issue provided accounts are filed well before the transfer window reopens.

So the EFL didn’t extend the offer from the Government of a 3 Month delay which is plain stupid.

'Coventry City can confirm that it has been placed under a transfer embargo by the EFL.

'The Government, due to the Coronavirus crisis, allowed companies to extend the deadline to file company accounts by three months and Coventry City chose to take up this option.

'Unfortunately the EFL has decided not to replicate this extension within their own rules, which surprises us as they have amended a number of other rules due to the Coronavirus pandemic.

[Day]

It’s like being suspended from school during the summer holidays, barred from Wetherspoons between 1am and 9am, banned from the hairdressers when you have a bald head.

Matt Hughes at the Daily Mail must be salivating at the clicks he can gather from this extreme punishment dished out.

Stephen Pearce mentioned the accounts/EFL situation in that interview he gave if anyone is deeply concerned by our inability to sign players in April.

[Curtains]

1 minute ago, David said:

It’s like being suspended from school during the summer holidays, barred from Wetherspoons between 1am and 9am, banned from the hairdressers when you have a bald head.

Matt Hughes at the Daily Mail must be salivating at the clicks he can gather from this extreme punishment dished out.

Stephen Pearce mentioned the accounts/EFL situation in that interview he gave if anyone is deeply concerned by our inability to sign players in April.

It’s not just that. 
 

The transfer window does not reopen until the summer. Some believe clubs are taking the penalty now hoping that they will be in a position to trade their way out of embargo when it reopens.

 

[RoyMac5]

29 minutes ago, ThePrisoner said:

But you can’t sign anyone until summer anyway. So the embargo is a bit ridiculous. 

Oooh does this stop us signing Wis and Wag?

[Spanish]

2 minutes ago, Curtains said:

It’s not just that. 
 

The transfer window does not reopen until the summer. Some believe clubs are taking the penalty now hoping that they will be in a position to trade their way out of embargo when it reopens.

 

what penalty?

[Philmycock]

Has Gibson been tittle-tattling again  pfffft

[BucksRam]

Assuming this is true then the whole crux for me is yet again it's a demonstration of the EFL's complete inability to get its head out of its ar5e.  Unless you're one of those sitting pretty on £40m parachute payments, most clubs, ours included, are on their knees financially and given the chance will have taken the government's offer.  For the EFL to then not realign themselves with this is inept at best. To then punish teams is not only morally wrong, but downright vindictive, and self-destructive for the league they supposedly represent.  I really would have thought the Minister for Sport should step in with a WTF are you doing??!

[GboroRam]

I'll play devil's advocate. 

Perhaps the EFL deadlines are set based on other factors and delaying the filing of accounts will delay other parts of the P&S calculations. I have no idea if that's why the timescales are unchanged or not, but I wouldn't be surprised if they are trying to minimise the impact on other factors of their financial work.

[RadioactiveWaste]

29 minutes ago, Curtains said:

It’s not just that. 
 

The transfer window does not reopen until the summer. Some believe clubs are taking the penalty now hoping that they will be in a position to trade their way out of embargo when it reopens.

 

This is a brilliant bit of truth twisting from the DM. Clubs taking the penalty now (it's a consiquence of filing accounts by the government extension date) - there is no option or decision to take a penalty later, only weather accounts are filed before the window or not - it changes the emphasis of what's going on to try to imply guilt and trouble at clubs when in effect, the EFL are being administativly incontinent.

Part of the Daily Mail "how to get you story clicks" playbook (to be fair, it's the kind of thing all the papers play at these days)

[Bob The Badger]

3 hours ago, angieram said:

There's no surprise accounts are being filed late. It must be an absolute nightmare for clubs to even begin to unravel the dire financial situations they find themselves in.

 

Why should the accounts take any longer just because of Covid?

I mean, I'm not an actual accountant and I'm a bit thick, but it seems to me if anything they should be easier to do because they haven't got to bother including pesky items like income.

 

[Curtains]

15 minutes ago, GboroRam said:

I'll play devil's advocate. 

Perhaps the EFL deadlines are set based on other factors and delaying the filing of accounts will delay other parts of the P&S calculations. I have no idea if that's why the timescales are unchanged or not, but I wouldn't be surprised if they are trying to minimise the impact on other factors of their financial work.

They really aren’t that clever. 
 

I wouldn’t credit that lot with anything 

[GboroRam]

2 minutes ago, Curtains said:

They really aren’t that clever. 
 

I wouldn’t credit that lot with anything 

I'd say quite the opposite. They are inflexible and likely won't be able to react to changes smoothly. I wouldn't be surprised if they administratively just aren't able to operate if they changed the dates.

[Steve Buckley’s Dog]

Aren’t our accounts about two years overdue, let alone 3 months.

The whole thing seems a waste of time to me. If I remember rightly then weren’t we waiting until the fake sheikh bought us before publishing our accounts? If so, will we be able to publish our long overdue accounts before May? If not I presume that the pointless  embargo in place at the moment would continue and then it would become an actual issue seeming as we aren’t going to have any players left for next season.

I think the issue for us is getting the club sold ASAP because if we don’t next season could be a write off before it has even begun. 

[Tamworthram]

1 hour ago, Curtains said:

So the EFL didn’t extend the offer from the Government of a 3 Month delay which is plain stupid.

'Coventry City can confirm that it has been placed under a transfer embargo by the EFL.

'The Government, due to the Coronavirus crisis, allowed companies to extend the deadline to file company accounts by three months and Coventry City chose to take up this option.

'Unfortunately the EFL has decided not to replicate this extension within their own rules, which surprises us as they have amended a number of other rules due to the Coronavirus pandemic.

I agree it’s stupid of the EFL but, as I say, provided clubs submit their accounts well in advance of the window opening surely it’s done no harm.

[Day]