Sheff Weds Latest Accounts. Wow!!!!

He’s on £40k a week I think. Unbelievable Geoff!

 

It's one of those weird transactions where instead of paying installments over time you gradually get refunded.

 

Always a disaster waiting to happen if they didn’t get promoted. Signed way too many players around the 26/27 age bracket on huge contracts taking them into their 30’s with little / no resale value.

The money they must have lost on Forestieri, Hooper, Fletcher & Winnall as well is scary.

It was always a premier league or bust strategy.

 

When it all goes wrong. When your bad decisions trap you. You can't see a way out. You'll have to cop it and have a bad decade.
You can always go back to your home and batten down... pull up the drawbridge... at least you've got a home. An identity...

jaysus... please don''t sell Oakwell.

 

It'll be down to 10 bob when they get relegated

 

He’s on 50k.

 

Tins of tuna? Pork scratchings?

 

I can't condone the threats in any way, its wrong on every level. But the reason he's having to put that kind of money in is all due to his own mismanagement of the club in the first place. I can understand the bad feelings that the fans have towards him, even if he's their only means of support at the moment. I don't know of any other club where the owner spells out his own name across the seating. That tells me everything I need to know about him.

Edit.
But I get your point. You wouldn't start kicking your life support machine if you were on your deathbed.

 

Wednesday have taken the art of money mismanagement to a whole new level, who is advising them Bernie Madoff? - they have no money, no decent players and no hope left after we give them a good hiding in 10 days time

 

This is the interesting statement taken directly from the accounts

Material uncertainty related to going concern
We draw attention to note 1.3 in the financial statements, which indicates that additional funding will be required to enable the company to continue in operational existence. The owner has confirmed that sufficient financial support will be made available to enable the company to meet its obligations as they fall due for a period of not less than 12 months from the date of approval of the financial statements. As stated in note 1.3, the director acknowledges that this support is not legally binding, and these conditions, along with other matters as set forth in note 1.3, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. In addition we draw attention to the matters set out in note 26 in relation to the Covid-19 pandemic including the fact that football matches, after resumption, continue to be played behind closed doors and the uncertainties in timescale arising from the pandemic. Our opinion is not modified in respect of these matters.

 

What that shows is they have been in a mess for a long time and there are constant issues over their viability as a going concern. There seem numerous references to assurances from the director and I suspect its that which has allowed BHP to get away from qualifying the accounts (where the auditor essentially doesn't believe the accounts give a true and fair view).