The owls

Discussion in 'Bulletin Board' started by RichieD, Jul 11, 2019.

  1. Ric

    RichieD Active Member

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    Sheffield Wednesday accounts out up to 2018 lost 35 million in the final year. Offset by selling the stadium to Hong Kong based Holding company for 38 million.
     
  2. Ged

    Geddiswasguud Well-Known Member

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    Oh that will be why the return was late going in!
    That's ok then!!
    I actually believe they should be heavily fined for late admission ( otherwise, we can all do it) or even a points deduction.
    Ie stop taking the p#ss.
     
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  3. Runner

    Runner Well-Known Member

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    Wouldn't surprise me if they backdated the sale then to save that financial year.
     
  4. DusThaNoIII

    DusThaNoIII Well-Known Member

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    Nothing will happen, sadly.
     
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  5. Red

    Redhelen Well-Known Member

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    They've been heavily in debt for years but still survive somehow. Must have cracking accountants!
     
  6. Dan

    DannyWilsonLovechild Well-Known Member

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    Its whoever the debt is to which poses the greatest issue and risk. I knew the account manager at the co-op in Sheffield way back and they were never too concerned with the debt (though they were relatively recently departed from the top flight). Accountants simply record and report historic transactions and offer a view in the financial statements.
     
  7. Red

    Redhelen Well-Known Member

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    So if the banks called the loan in they could pay it? I dont understand how you can be massively in debt all these years but still have money? After all you can only sell your ground once.
     
  8. BFC Dave

    BFC Dave Well-Known Member

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    If someone is prepared to lend you the money then you can still have cash in the bank. It's only when the lending stops or the lender wants repayment that the excrement hits the air con.

    Edit. Sorry I misread your post. As far as I am aware the banks took a reduced amount and Milan Manderic then found an alternative owner.
     
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  9. JLWBigLil

    JLWBigLil Well-Known Member

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    Ah, my favourite BBS wise, old sage.
     
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  10. Gordon Owen

    Gordon Owen Well-Known Member

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    Can they send that estate agent round to value my house, its must be worth £30 million based on that.
     
  11. BobT

    BobT Well-Known Member

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    Get some flats on it.
     
  12. Vesp77

    Vesp77 Well-Known Member

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    Didn't think you could build on landfill?
     
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  13. Dragon Tyke

    Dragon Tyke Well-Known Member

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  14. onlyonesteviecooper

    onlyonesteviecooper Well-Known Member

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    Can just see it. Chansiri sat in his office, "i want 70million", runs round other side of his desk " no way, its a right rustbucket" , runs back round his desk "get thisen felt, 60million and its yours", runs back around "ok 60 million it is". He then shakes his own hand. Deal done, teks himself for a pint.
    Its just absolutley bonkers, sellin stadium to yourself... on top of making up fake companies to inject money too. Nuts.
     
  15. dreamboy3000

    dreamboy3000 Well-Known Member

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    You don't get much for 38 million these days if that unsafe **** heap is worth that.
     
  16. Marlon

    Marlon Well-Known Member

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    West stand worth 5mill on that basis ?
     
  17. Old Goat

    Old Goat Well-Known Member

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    Seems to be part and parcel of the modern game. And why here at Oakwell we'll always be playing uphill and into the wind. Not that I'd change our fiscal policy, but I'm getting a bit fed up now, waiting for some of these crazy clubs to fold. Bolton have had more stays of execution than the combined inhabitants of death row.
     
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  18. jedi one

    jedi one Well-Known Member

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    its doesnt help punishing a little club the likes of boston, maidstone, rushden and diamonds but if you wind up a so called "big" club like leeds, sheff weds, bolton, sunderland and close them down you watch just how quickly all the others sort their finances and start sticking to FFP regs
     

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