Accounts Submission Date Extension

[kevinhectoring]

17 hours ago, WoollyJumper said:

My thoughts exactly.

Because Mel thinks the team who played Hull tonight, plus Watson, Ebosele, Knight, and Bielik when he’s back are half decent.
Well they were much more than half decent tonight 

[Gritstone Ram]

11 hours ago, GboroRam said:

Could the extension be because the EFL haven't had time to review the submission we gave them? It's described as positive communication from the club as we're talking to them, but if the delay is entirely down to the EFL, an extension would naturally be granted I'd expect. 

Everyone is speculating about our reasons for asking for an extension, but it could be entirely innocent and nothing to do with the contents of the accounts. 

But the extension isn’t for their review it’s for our submission. We may have asked questions and had to negotiate certain elements of the accounts and after them discussions we are clear how we need to proceed with them. We now have 6 days to find another loop hole.

Edited August 18, 2021 by Gritstone Ram

[Woodley Ram]

I think this is all about negotiations, my thoughts are that they are negotiating a penalty that we will agree to not appeal as both parties want to put an end to this. I am expecting a 3-6 point deduction maybe some of it suspended based on failing to file accounts, little bit of FFP, failing to pay bills. Things put together that we will accept. 

[Spanish]

24 minutes ago, Woodley Ram said:

I think this is all about negotiations, my thoughts are that they are negotiating a penalty that we will agree to not appeal as both parties want to put an end to this. I am expecting a 3-6 point deduction maybe some of it suspended based on failing to file accounts, little bit of FFP, failing to pay bills. Things put together that we will accept. 

too many maybes for any of us to know, maybe the accounts aree in and approved without penalty but the EFL ant to know a bit more based on the recent TV allegations?

[Woodley Ram]

53 minutes ago, Spanish said:

too many maybes for any of us to know, maybe the accounts aree in and approved without penalty but the EFL ant to know a bit more based on the recent TV allegations?

what TV allegations

[RoyMac5]

24 minutes ago, Woodley Ram said:

what TV allegations

I presume the Al Jazz stuff.

[Woodley Ram]

51 minutes ago, RoyMac5 said:

I presume the Al Jazz stuff.

apart from walking around a stadium and being taken in by a fake investor, nothing breached the law or regulations 

[Dean (hick) Saunders]

2 hours ago, Woodley Ram said:

I think this is all about negotiations, my thoughts are that they are negotiating a penalty that we will agree to not appeal as both parties want to put an end to this. I am expecting a 3-6 point deduction maybe some of it suspended based on failing to file accounts, little bit of FFP, failing to pay bills. Things put together that we will accept. 

If that’s the way they are going they may have to also agree it with the other 21 Champ clubs too. Suspect quite a few would be concerned about precedents set.

I would have thought points for failing to file   would be as contentious a vote as a salary cap.

[RoyMac5]

24 minutes ago, Woodley Ram said:

apart from walking around a stadium and being taken in by a fake investor, nothing breached the law or regulations 

I didn't suggest otherwise.

[Spanish]

1 hour ago, Woodley Ram said:

apart from walking around a stadium and being taken in by a fake investor, nothing breached the law or regulations 

there was an indication that he was funding us by way of repayable loans rather than capital.  It appears that he is funding the company which owns DCFC in that manner.  They may want to understand this, who knows?

[RoyMac5]

29 minutes ago, Spanish said:

there was an indication that he was funding us by way of repayable loans rather than capital.  It appears that he is funding the company which owns DCFC in that manner.  They may want to understand this, who knows?

I think the fans might want to know too, does that mean his generosity does know bounds?

[Spanish]

3 hours ago, RoyMac5 said:

I think the fans might want to know too, does that mean his generosity does know bounds?

I think he is expecting some return of his investment.  At one time he did own our ground and still owed money the DCFC but the accounts are so historic hardly worth guessing

[Yani P]

I'm hoping as mentioned above we were just seeking clarification and negotiating some finer detail before resubmission. Hopefully this will speed up the final sign off and agreement and we can get on with the football side.

[Crewton]

4 hours ago, RoyMac5 said:

I think the fans might want to know too, does that mean his generosity does know bounds?

In the scam documentary, he told the fake reporters that he had £140M of outstanding loans, but they wouldn't have to pay those back, they could write them off gradually over a number of seasons which would "be beneficial in terms of FFP". What he'd get back would therefore depend on what they paid for the purchase of the club etc.

[kevinhectoring]

8 hours ago, Woodley Ram said:

I think this is all about negotiations, my thoughts are that they are negotiating a penalty that we will agree to not appeal as both parties want to put an end to this. I am expecting a 3-6 point deduction maybe some of it suspended based on failing to file accounts, little bit of FFP, failing to pay bills. Things put together that we will accept. 

If we continue to play as we did last night we will easily be able to cope with 6points 

[OohMartWright]

1 minute ago, Crewton said:

In the scam documentary, he told the fake reporters that he had £140M of outstanding loans, but they wouldn't have to pay those back, they could write them off gradually over a number of seasons which would "be beneficial in terms of FFP". What he'd get back would therefore depend on what they paid for the purchase of the club etc.

If Mel allowed the club to write off loans due to him (the correct term is "debt forgiveness"), this would constitute income in the hands of the club at the point at which each amount was waived. If these amounts were done piecemeal over several seasons then the appropriate proportion would be reflected in each season's accounts. I'm not sure whether the FFP rules have any special provisions about this, but given that it is most definitely "income" it should indeed be beneficial.

[ColonelBlimp]

On 18/08/2021 at 11:20, Truckle said:

I had a bash at writing up something aimed at fans of other clubs to set the record a bit straighter - if anyone can be arsed we could paste it on fellow fan sites:  https://ramsreviewpodcast.wixsite.com/home/post/the-wrong-coloured-shorts

TL:DR

[rammieib]

38 minutes ago, OohMartWright said:

If Mel allowed the club to write off loans due to him (the correct term is "debt forgiveness"), this would constitute income in the hands of the club at the point at which each amount was waived. If these amounts were done piecemeal over several seasons then the appropriate proportion would be reflected in each season's accounts. I'm not sure whether the FFP rules have any special provisions about this, but given that it is most definitely "income" it should indeed be beneficial.

I wonder if he is theoretically including the stadium in there?

[Van der MoodHoover]

5 hours ago, Spanish said:

there was an indication that he was funding us by way of repayable loans rather than capital.  It appears that he is funding the company which owns DCFC in that manner.  They may want to understand this, who knows?

That's fairly standard business practice. Gives him (Mel) flexibility to decide whether and if so what proportion he is prepared to write off on a sale. 

[Dimmu]

On 18/08/2021 at 12:49, Tamworthram said:

Has the dog eaten the version due in today? ?

Well, Mel is a friend of 'Arry...