Just been reading an article someone sent me that 10 Championship clubs were hit with the embargo last month(Birmingham City, Blackburn Rovers, Cardiff City, Coventry City, Derby County, Huddersfield Town, Luton Town, Reading, Sheffield Wednesday and Stoke City). There is going to be a real shitstorm hitting the league sooner or later...
It does say that Huddersfield have sorted theirs, and Stoke are expected to follow soon as their bans were "administrative" rather than financial issues, whatever that means.
edit: It seems it's because there is a government option to file books three months late due to the pandemic, and the EFL's systems were not in sync with it...
This But I still think there will be some clubs in big trouble. Derby still not sold, Wednesday with their (Massive) debts, Stoke now parachute payments have ended. The list is endless, you could add Brentford and Bournemouth as well
The likes of Derby and Wednesday are in big trouble, as it stands. The article in question has an "anonymous official" from an unaffected Championship club say that it seems like some of the clubs have attempted to get the penalty early, so it's up before the transfer window starts, and that a "financial armageddon" is coming. Can't see Wednesday being able to add to the squad next season anyway, embargo or not. Derby the same. Bournemouth probably have another season or so before the loss of Premier League money hits them, unless they go up).
Yes just read the articles on it. 10 clubs named. I find it rather strange that nearly half the division could fall foul at the same time. We''ll see.
Don't Wednesday have something like 12 players out of contract this summer? Wage bill will be reduced and can see a load of freebies being signed. I think this season was **** or bust for a number of teams, luckily the way we are run would never put us in that position
Would an embargo have something built in to allow them to sign free transfers if they are still under one? Seem to remember Bolton being able to bring players in under specific circumstances. Let's be honest, though. Never been a better time to be a club run more or less within its means. Clubs are not expecting many players to be snapped up by the Premier League(they have a £2bn loss of income this season by all accounts), so overspenders will struggle to recoup their losses, which should lead to embargoes and points penalties(and inability to rape smaller clubs of their best players for lower than market value).
I think you'll find they're in massive trouble, you can't use the word big when you're referring to Wednesday. Let this be a lesson, learn form it & move on.
Coventry seem to thin it's just an administrative issue so they'll be able to carry on spending hand over fist without any problem!
At least it means that there's less chance of certain clubs nicking all our best players for peanuts in the summer (assuming we don't get promoted).