duncanjwitham Posted August 24, 2021 Share Posted August 24, 2021 10 minutes ago, Ambitious said: We wouldn't find out a point deduction now anyway, if we even get one, as the weight of the point deduction is based on how badly we breached P&S and seemingly is open to interpretation. I would imagine a -18 point deduction would need to be somewhere in the region of a £160-180m loss over the three years, so you can dismiss that as nonsense. Sheffield Wednesday got a -6 point deduction for a £66m loss over three years. We wouldn't even get anywhere near that. I believe Reading haven't received a point deduction for their breach as of yet. I'm still confident we won't be in any breach of P&S but ultimately we don't know exactly how our amortisation policy will shake out. A minor breach, at the very, very worst, so wouldn't be surprised to see us only pick up a -3 or a fine. The points deductions don't work like that. It's something like a 1 point deduction per £1m of overspend up to a maximum of 12 points (although I think they might have slightly tweaked those figures recently). Plus there's an additional (up to) 9 points that can be added on for other bad behaviour. Sheffield Wednesday were given the full 12 points, and had it reduced to 6 on appeal (I assume for mitigating circumstances around the stadium sale). We'd only need to overspend by ~£10m, plus the EFL try to force an additional 9 points to get an 18 point penalty. Link to comment Share on other sites More sharing options...
B4ev6is Posted August 24, 2021 Share Posted August 24, 2021 I think personal mel been paying some of clubs debts off so new owner not got pay as much off. 1967RAMS 1 Link to comment Share on other sites More sharing options...
Ambitious Posted August 24, 2021 Share Posted August 24, 2021 7 minutes ago, Rammy03 said: I doubt we'll hear anything today Rooney will be asked about it, assuming he knows the situation then we could expect some information at the latest then. Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted August 24, 2021 Share Posted August 24, 2021 So no one knows any more than anyone else right now? Lets just cool our jets, the absolute most we're likely to here today is "we confirm submission/reciept of outstanding documents" or "documents are still outstanding", probably after everyone's bedtime when they hope to get the news missed. hydraulic ram and Alty_Ram 2 Link to comment Share on other sites More sharing options...
Alty_Ram Posted August 24, 2021 Share Posted August 24, 2021 Knowing the expectation about this submission you'd hope that there would be some kind of statement, however brief. Then again, this is DCFC and the EFL so who knows right ? somewhere between a year and 48 hours would be my guess. Gut feeling is that after all this time and wrangling that I just can't see 'Oh OK, that's fine, off you go Derby, good luck with the season'. The rules and measures seem poorly defined at best so.. *shrug* ..flip knows... RadioactiveWaste 1 Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted August 24, 2021 Share Posted August 24, 2021 Also, just on the Rooney apparently mentioning to a reporter he thinks the embargo might be lifted after today, that just means *at most* that's what someone at the club has told him. Now, would the club be telling him things that are not *certain* because they need him to stay positive and keep believeing ? Link to comment Share on other sites More sharing options...
ThePrisoner Posted August 24, 2021 Share Posted August 24, 2021 One thing to remember is the accounts could be submitted today but won't appear immediately on Companies House which will send those who scour it into more fury and panic tomorrow. Link to comment Share on other sites More sharing options...
Betty Swollocks Posted August 24, 2021 Share Posted August 24, 2021 They wont be going to Companies House. They were legally submitted over 3 years ago. This is simply a resubmission to the EFL or the Disciplinary Committee for P&S purposes. r_wilcockson, McMuffin, Carl Sagan and 3 others 6 Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted August 24, 2021 Share Posted August 24, 2021 4 minutes ago, Betty Swollocks said: They wont be going to Companies House. They were legally submitted over 3 years ago. This is simply a resubmission to the EFL or the Disciplinary Committee for P&S purposes. Presumably though the outstanding accounts from 19 and 20 will be submitted now the EFL issues are resolved? Link to comment Share on other sites More sharing options...
Carnero Posted August 24, 2021 Share Posted August 24, 2021 4 minutes ago, Betty Swollocks said: They wont be going to Companies House. They were legally submitted over 3 years ago. This is simply a resubmission to the EFL or the Disciplinary Committee for P&S purposes. Except that... The 2019 accounts need submitting to companies house (Apr 2020 deadline) The 2020 accounts need submitting to companies house (Apr 2021 deadline) r_wilcockson 1 Link to comment Share on other sites More sharing options...
Carl Sagan Posted August 24, 2021 Share Posted August 24, 2021 25 minutes ago, Carnero said: Except that... The 2019 accounts need submitting to companies house (Apr 2020 deadline) The 2020 accounts need submitting to companies house (Apr 2021 deadline) Were these deadlines not extended by some margin (9 or 12 months?) due to Covid? I'd be surprised if the 2020 accounts need to be submitted yet in terms of the HMRC requirements. However, my understanding was that despite the HMRC saying you don't need to submit accounts because of Covid, my recollection was also that the EFL said "we'll put you under embargo if you don't because we have no interest in the welfare of our member clubs and any financial difficulties you may be experiencing due to a global pandemic". jono, Betty Swollocks and RadioactiveWaste 3 Link to comment Share on other sites More sharing options...
Betty Swollocks Posted August 24, 2021 Share Posted August 24, 2021 29 minutes ago, Carnero said: Except that... The 2019 accounts need submitting to companies house (Apr 2020 deadline) The 2020 accounts need submitting to companies house (Apr 2021 deadline) That`s true, but that wasn`t what i was talking about! Also, because of Covid I believe that the Goverment have given all businesses an extension on submission of accounts!? Link to comment Share on other sites More sharing options...
cool_as_custard Posted August 24, 2021 Share Posted August 24, 2021 12 minutes ago, Betty Swollocks said: That`s true, but that wasn`t what i was talking about! Also, because of Covid I believe that the Goverment have given all businesses an extension on submission of accounts!? Up to 3 months only for Covid reasons, so you get 12 months from the year end in total Link to comment Share on other sites More sharing options...
DCFC27 Posted August 24, 2021 Share Posted August 24, 2021 My theory is, if there is any truth in this we’ll likely hear it after the game in the post match interview. Unless a reporter manages to steel a word before kick off. Link to comment Share on other sites More sharing options...
Woodypecker Posted August 24, 2021 Share Posted August 24, 2021 Maybe Eric Steele could report something soon ? Link to comment Share on other sites More sharing options...
DCFC27 Posted August 24, 2021 Share Posted August 24, 2021 So we’ve got the £80m ground sale and £39m allowance plus some mediocre player sale - Hendrick Vydra hughes Ince. We’re up to £150m potential allowance over a 3 year period. If we have spend more than that we deserve what we get ? r_wilcockson 1 Link to comment Share on other sites More sharing options...
Ghost of Clough Posted August 24, 2021 Share Posted August 24, 2021 3 hours ago, duncanjwitham said: That's 2 different things, I think. I doubt very much the restated accounts will appear on Companies House - I'd be surprised if they even allow companies to restate accounts years after the fact. They'll be submitted to the EFL, probably just as revised P&S statements, and we'll probably never see them. The other overdue accounts (18/19 and 19/20 IIRC) don't have to be approved by the EFL or anything, they'll go straight to Companies House when we're ready to submit them. The EFL will only get involved if they look like they'll be close to the FFP thresholds. There's certainly a question mark over the previously submitted accounts, but the 18/19 and 19/20 should be submitted for us to get out of embargo (unless we agree a deal with the EFL). Regulation 16.3 - Annual Accounts not filed with Companies House Link to comment Share on other sites More sharing options...
The Scarlet Pimpernel Posted August 24, 2021 Share Posted August 24, 2021 (edited) 1 hour ago, Carl Sagan said: Were these deadlines not extended by some margin (9 or 12 months?) due to Covid? I'd be surprised if the 2020 accounts need to be submitted yet in terms of the HMRC requirements. However, my understanding was that despite the HMRC saying you don't need to submit accounts because of Covid, my recollection was also that the EFL said "we'll put you under embargo if you don't because we have no interest in the welfare of our member clubs and any financial difficulties you may be experiencing due to a global pandemic". Also add " although we ourselves the EFL as an organisation have taken advantage of late submission allowance" Edited August 24, 2021 by The Scarlet Pimpernel Carl Sagan and jono 2 Link to comment Share on other sites More sharing options...
Carnero Posted August 24, 2021 Share Posted August 24, 2021 1 hour ago, Betty Swollocks said: That`s true, but that wasn`t what i was talking about! Also, because of Covid I believe that the Goverment have given all businesses an extension on submission of accounts!? Yeah that temporary extension only applied to the 2019 accounts, not the 2020 accounts. @Carl Sagan Link to comment Share on other sites More sharing options...
Carnero Posted August 24, 2021 Share Posted August 24, 2021 Just now, Carnero said: Yeah that temporary extension only applied to the 2019 accounts, not the 2020 accounts. @Carl Sagan And the 2019 accounts are still well overdue even with an extension to the deadline! Link to comment Share on other sites More sharing options...
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