EFL lifts coverty city and cardiff city embargos

[B4ev6is]

Well supsprise supsprise they lift coverty city and cardiff city transfear embargo but not ours were we have made payments to people we owe money too but as of yet ours has not been lifted how is this fair it is not. So if theres can be lifted so can ours grrrr ???????????

[Rich84]

They haven't just exited administration..... and we don't have an embargo, just restrictions to meet a business plan which means we can't spend money and have to stick to a budget 

Calm yourself down

[rad1919]

We screwed over the tax payer and local businesses and nearly became extinct. We have no room to complain.

Edited January 12, 2023 by David
Removed libellous comment.

[G STAR RAM]

As a taxpayer I'd be fuming seeing a football club spending money on players only months after having a large chunk of its VAT liability written off.

I hate the EFL with a passion but fully support them on making us stick to our business plan.

Otherwise its just an incentive for more clubs to go down the administration route to clear excessive debts, whilst screwing over small businesses and the taxpayer.

The Cardiff and Coventry cases bore no resemblance to ours whatsoever.

[Ghost of Clough]

1 hour ago, G STAR RAM said:

As a taxpayer I'd be fuming seeing a football club spending money on players only months after having a large chunk of its VAT liability written off.

I hate the EFL with a passion but fully support them on making us stick to our business plan.

Otherwise its just an incentive for more clubs to go down the administration route to clear excessive debts, whilst screwing over small businesses and the taxpayer.

The Cardiff and Coventry cases bore no resemblance to ours whatsoever.

Genuine question: did Wigan owe money to HMRC and did they pay it all when exiting administration?

Edited January 12, 2023 by David
Removed libellous quoted comment.

[Crewton]

4 hours ago, Ghost of Clough said:

Genuine question: did Wigan owe money to HMRC and did they pay it all when exiting administration?

Luckily for Wigan, the planned date for the change in legislation making HMRC a secondary preferred creditor was put back from April 1st 2020 to December 1st 2020, meaning that it was never an issue for them. HMRC fell into the unsecured creditor group, meaning they only had to pay a minimum of 25p in the £ to avoid EFL penalties. It's hard to find the exact figure they owed HMRC, but I read an article that suggested it was in the range of £0.75M-£1M. Their overall u/s debt was around £3M. There's no indication that they paid more than 25p/£.

It's worth remembering that Wigan's Administration was controversial, as they were not heavily in debt to anyone but their new owner and his funders at the time and there were allegations of chicanery.

[Ghost of Clough]

20 minutes ago, Crewton said:

Luckily for Wigan, the planned date for the change in legislation making HMRC a secondary preferred creditor was put back from April 1st 2020 to December 1st 2020, meaning that it was never an issue for them. HMRC fell into the unsecured creditor group, meaning they only had to pay a minimum of 25p in the £ to avoid EFL penalties. It's hard to find the exact figure they owed HMRC, but I read an article that suggested it was in the range of £0.75M-£1M. Their overall u/s debt was around £3M. There's no indication that they paid more than 25p/£.

It's worth remembering that Wigan's Administration was controversial, as they were not heavily in debt to anyone but their new owner and his funders at the time and there were allegations of chicanery.

Therefore, I go back to @G STAR RAM and ask if he was "fuming" when Wigan spent a high 6 figure sum for a player in the transfer window immediately after exiting administration.

[Boycie]

[B4ev6is]

Thing is they had transfear embargo in place but because coverty city got taken over it got lifted and cardiff made payment to that player that never ever ever made it over. We have made payments and number of clubs and businesses so I see no reason why our cant be lifted as well.

[Crewton]

27 minutes ago, B4ev6is said:

Thing is they had transfear embargo in place but because coverty city got taken over it got lifted and cardiff made payment to that player that never ever ever made it over. We have made payments and number of clubs and businesses so I see no reason why our cant be lifted as well.

They didn't go into Administration, we did. They haven't left creditors out of pocket, we did. Yes, that's the responsibility of Mel Morris, not David Clowes (he's done what was required under the EFL rules), but it would set a bad example if we simply started with a clean slate and no limits on what we could now spend on rebuilding.

There are set EFL rules that govern what restrictions are imposed on teams after exiting Administration which are designed to prevent us from splashing out transfer fees etc so soon after paying only 25% of our debts to non-football creditors. That's only right in my view, even if some of the treatment we received during Administration still rankles.

[B4ev6is]

Just now, Crewton said:

They didn't go into Administration, we did. They haven't left creditors out of pocket, we did. Yes, that's the responsibility of Mel Morris, not David Clowes (he's done what was required under the EFL rules), but it would set a bad example if we simply started with a clean slate and no limits on what we could now spend on rebuilding.

There are set EFL rules that govern what restrictions are imposed on teams after exiting Administration which are designed to prevent us from splashing out transfer fees etc so soon after paying only 25% of our debts to non-football creditors. That's only right in my view, even if some of the treatment we received during Administration still rankles.

Tectail that's not true coverty city ground went into administration so they should be sticking businesses plan then oh know fine you go and spend what ever you like.

[Crewton]

1 minute ago, B4ev6is said:

Tectail that's not true coverty city ground went into administration so they should be sticking businesses plan then oh know fine you go and spend what ever you like.

The stadium was not in their ownership mate - it was owned by Wasps, the Rugby Union club, who did go into Administration. It's now owned by Mike Ashley. Coventry City FC didn't go into Administration.

[B4ev6is]

But they play in it

And still part of the club so for me they should go into business plan then but because not us year fine go do what ever you like. Were is fairness in that clowes did what new owner and paid clubs debts so club now debt free.

Were have efl treated us fairly they have not.

 

[Mucker1884]

34 minutes ago, B4ev6is said:

But they play in it

And still part of the club so for me they should go into business plan then but because not us year fine go do what ever you like. Were is fairness in that clowes did what new owner and paid clubs debts so club now debt free.

Were have efl treated us fairly they have not.

 

Where is the fairness in Coventry City getting an embargo (or other restrictions) simply because their landlord... the owners of the stadium that Coventry City rented... went into administration?  

Coventry City have taken the due punishment for their "crime", as set out in the EFL membership handbook.
Our "crime" was worse... much worse... and therefore our punishment is more severe, and is still ongoing.

Seems very fair, to me? ?‍♂️

[Henrycav81]

37 minutes ago, B4ev6is said:

But they play in it

And still part of the club so for me they should go into business plan then but because not us year fine go do what ever you like. Were is fairness in that clowes did what new owner and paid clubs debts so club now debt free.

Were have efl treated us fairly they have not.

 

We’ve only paid 25% of our non football debts we got away with around £20m that we didn’t pay HMRC plus all other companies that only received 25% of what we owed them. Coventry City are not in administration, after all the crap with Morris I want us to be ran sensibly and for us to be sustainable. I remember when we nearly went bust in 1984 Stuart Webb said the club would never be in this position again, since then we’ve had the 3 amigos and Mel Morris nearly destroy the club

[B4ev6is]

I think clowes is running club probley but I do think we should be allowed sign players on small fees but I think as long with budget but clowes been clearing the rest I still thing freaking so called embargo should be lifted.

With so called fresh start and fresh chance efl were banging 0n about.

[Crewton]

There's an agreed timescale for it to be lifted in the Business Plan and that's what Clowes agreed when the EFL approved his takeover.

No-one is being unreasonable and neither Coventry or Cardiff are being treated leniently as far as I can see.

[B4ev6is]

So why dont efl come and say they will be lifted jan or summer 2023 then.

[Day]

16 minutes ago, B4ev6is said:

So why dont efl come and say they will be lifted jan or summer 2023 then.

They have. It's a 2 year business plan so we're looking at the summer of 2024 all being well.

That's our punishment regardless of who is in charge now, we accepted that and getting on with it.

You can't compare our situations to Coventry and Cardiff, they are not remotely the same.

[B4ev6is]

Well there new owner said debts are clear and clows did same for us and keeps paying them so surely they can be loosened then.