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Sheffield Wednesday - Into Administration (p44)

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  • ElfsborgAddick
    ElfsborgAddick Posts: 29,910
    edited February 22
    One of my Wednesday mates has said that they are looking at a 15 points deduction next season if this sale does not go through.
    This is apparantly due to the fact that outstanding creditors would not be getting paid.
  • cblock
    cblock Posts: 2,005
    Oh dear, never mind.
  • Athletico Charlton
    Athletico Charlton Posts: 14,701
    Won't their points deduction from this season get carried over as they would have gone down anyway?
  • fenaddick
    fenaddick Posts: 16,605
    Athletico Charlton said:
    Won't their points deduction from this season get carried over as they would have gone down anyway?
    No, I think that rule only applies towards the end of the season 
  • Redvalleyeast
    Redvalleyeast Posts: 4,927
    ElfsborgAddick said:
    One of my Wednesday mates has said that they are looking at a 15 points deduction next season if this sale does not go through.
    This is apparantly due to the fact that outstanding creditors would not be getting paid.
    Wow. Makes the mere 6 point deduction that Leicester got seem extremely light. Careful what you wish for Leicester I say.
  • Briston_Addick
    Briston_Addick Posts: 12,954
    Athletico Charlton said:
    Won't their points deduction from this season get carried over as they would have gone down anyway?

    The penalty has already been awarded so it'll stand.

    If a team went into administration (or some other kind of points penalty) after, I think, the old transfer deadline date of last Thursday in March then it would be a suspended sentence to be assessed at season's end.

    If the team has been relegated then the points deduction is carried over to the following season.

    If the team is safe the points penalty is applied in the current season ... and if they drop into the relegation zone as a result they'll go down.
  • golfaddick
    golfaddick Posts: 35,250
    ElfsborgAddick said:
    One of my Wednesday mates has said that they are looking at a 15 points deduction next season if this sale does not go through.
    This is apparantly due to the fact that outstanding creditors would not be getting paid.
    I believe the Administrators only accepted the proposed new owners offer because they said that they would be paying all the creditors in full, whereas many of the other proposals didnt. 
  • JustFloydRoad
    JustFloydRoad Posts: 2,449
    James Bord is hoping to complete his Sheffield Wednesday takeover before April.
  • Chris_from_Sidcup
    Chris_from_Sidcup Posts: 36,812
    Quite a few Wednesday fans aren't happy at this new guy and don't see things improving a great deal under him.

    I believe there's doubts over his proof of funds to take them forward long term which is why it's taken so long to approve things since he was announced as the preferred bidder.
  • MarcusH26
    MarcusH26 Posts: 9,353
    Chris_from_Sidcup said:
    Quite a few Wednesday fans aren't happy at this new guy and don't see things improving a great deal under him.

    I believe there's doubts over his proof of funds to take them forward long term which is why it's taken so long to approve things since he was announced as the preferred bidder.
    Something just doesn't feel right about this bid, even got a supposed Jordanian prince involved too. Not convinced they've actually got the money. 

    We've been through enough takeover sagas to know what a dodgy one looks like!

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  • CaptainRobbo
    CaptainRobbo Posts: 1,688
    JustFloydRoad said:
    James Bord is hoping to complete his Sheffield Wednesday takeover before April.

  • stoneroses19
    stoneroses19 Posts: 7,517
    MarcusH26 said:
    Chris_from_Sidcup said:
    Quite a few Wednesday fans aren't happy at this new guy and don't see things improving a great deal under him.

    I believe there's doubts over his proof of funds to take them forward long term which is why it's taken so long to approve things since he was announced as the preferred bidder.
    Something just doesn't feel right about this bid, even got a supposed Jordanian prince involved too. Not convinced they've actually got the money. 

    We've been through enough takeover sagas to know what a dodgy one looks like!
    Surely at this point, any new owner has to show the EFL/administrators 100% proof they have the funds. Whether that's putting it in to an account where the money can only be used by the football club or something similar. 
  • Chris_from_Sidcup
    Chris_from_Sidcup Posts: 36,812
    There's no way he's got the reported 100m they need to fund the club for the next 2-3 years.

    Alarm bells should be ringing for the EFL in approving this guy when he's currently being sued by one of his business partners over how much debt another of his clubs (Cordoba) had. The business partner was told no debt, the actual debt is about 20m.
  • stoneroses19
    stoneroses19 Posts: 7,517
    Chris_from_Sidcup said:
    There's no way he's got the reported 100m they need to fund the club for the next 2-3 years.

    Alarm bells should be ringing for the EFL in approving this guy when he's currently being sued by one of his business partners over how much debt another of his clubs (Cordoba) had. The business partner was told no debt, the actual debt is about 20m.
    That's very concerning. I don't understand how an individual like that can be passing the fit and proper test. 
  • BalladMan
    BalladMan Posts: 1,298
    edited February 23
    stoneroses19 said:
    Chris_from_Sidcup said:
    There's no way he's got the reported 100m they need to fund the club for the next 2-3 years.

    Alarm bells should be ringing for the EFL in approving this guy when he's currently being sued by one of his business partners over how much debt another of his clubs (Cordoba) had. The business partner was told no debt, the actual debt is about 20m.
    That's very concerning. I don't understand how an individual like that can be passing the fit and proper test. 
    He hasn’t.  Although it still beggar belief what these individuals get out of the deal?  Fame?  Notoriety?  

    I can see what Mouthalls deal was (bleed us dry) but this guy apparently has some money already, so why get involved in a massive loss making enterprise that will cost 30-40m before you even take over. 

    Something seems suss. 
  • MarcusH26
    MarcusH26 Posts: 9,353
    https://www.thestar.co.uk/sport/football/sheffield-wednesday/sheffield-wednesday-takeover-5611470

    Takeover collapsed. James Bord has withdrawn 
  • ForeverAddickted
    ForeverAddickted Posts: 98,442
    I am... SHOCKED!! - Such a shame for Wednesday though 
  • MarcusH26
    MarcusH26 Posts: 9,353
    ForeverAddickted said:
    I am... SHOCKED!! - Such a shame for Wednesday though 
    Would be surprised if it's not Mike Ashley and a points deduction for next season ultimately. 
  • sam3110
    sam3110 Posts: 22,491
    Hopefully on of the other vultures get it and they languish in League 1 for a while
  • CaptainRobbo
    CaptainRobbo Posts: 1,688


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  • fenaddick
    fenaddick Posts: 16,605
    Surely the few decent players left will now be available at a cut price and with a load of senior experience. It’s never pleasant but we should be monitoring that 
  • MarcusH26
    MarcusH26 Posts: 9,353
    fenaddick said:
    Surely the few decent players left will now be available at a cut price and with a load of senior experience. It’s never pleasant but we should be monitoring that 
    Would be looking at Ingelsson the CM definitely. Not sure there's much else there I'd be interested in , McNeill would be a punt and we've already got young strikers , Pierce Charles will go to the Prem. 
  • cashncarry
    cashncarry Posts: 984
    MarcusH26 said:
    https://www.thestar.co.uk/sport/football/sheffield-wednesday/sheffield-wednesday-takeover-5611470

    Takeover collapsed. James Bord has withdrawn 
    Bet the fans are shaken but not stirred.
  • Henry Irving
    Henry Irving Posts: 85,859
    Pulled out, they say, because they discovered the club isn't worth the money they offered.

    This could get even messier for them next season
  • CaptainRobbo
    CaptainRobbo Posts: 1,688
    edited February 25
    Henry Irving said:
    Pulled out, they say, because they discovered the club isn't worth the money they offered.

    This could get even messier for them next season
    Reading that article, they had been funding the club at a cost of £1million per month.
    What happens now?
  • Swindon_Addick
    Swindon_Addick Posts: 1,878
    MarcusH26 said:
    ForeverAddickted said:
    I am... SHOCKED!! - Such a shame for Wednesday though 
    Would be surprised if it's not Mike Ashley and a points deduction for next season ultimately. 
    Ashley has a bad reputation and he's an easy person to dislike, but he's not actually a bad owner compared to a lot of the people out there. He seems to be honest, he doesn't provide lavish funds but he does stump up whatever amount he's promised. That puts him well into the top half of football club owners.
  • MarcusH26
    MarcusH26 Posts: 9,353
    Swindon_Addick said:
    MarcusH26 said:
    ForeverAddickted said:
    I am... SHOCKED!! - Such a shame for Wednesday though 
    Would be surprised if it's not Mike Ashley and a points deduction for next season ultimately. 
    Ashley has a bad reputation and he's an easy person to dislike, but he's not actually a bad owner compared to a lot of the people out there. He seems to be honest, he doesn't provide lavish funds but he does stump up whatever amount he's promised. That puts him well into the top half of football club owners.
    I think the thing with Ashley is that you know there's not going to be financial problems 18 months down the line because he's got bored or something. The EFL know him so F&P , proof of funds etc is straightforward. 
  • J BLOCK
    J BLOCK Posts: 8,423
    ForeverAddickted said:
    I am... SHOCKED!! - Such a shame for Wednesday though 
    I was hoping it went through. 
  • Chris_from_Sidcup
    Chris_from_Sidcup Posts: 36,812
    edited February 25
    ForeverAddickted said:
    I am... SHOCKED!! - Such a shame for Wednesday though 
    It might not seem like it now but i actually think this a good thing for them. That guy (Bord) seemed very dodgy and there's no way he had the money to fund them long term. Weeks have passed and no one knew where their money was coming from.

    I suspect the withdrawal and their official line of "the club isn't worth what we bid" is just them getting ahead of probably not passing the fit and proper person test. Everyone already knew the club wasn't worth that. 30m+ was a crazy price for a league one club that is trading at a loss, probably has tons of hidden costs from Chansiri's ownership, a pretty awful squad and a stadium that needs millions spent to repair it. Not to mention that since the bid went in the club has lost its captain and a promising young striker.
  • Henry Irving
    Henry Irving Posts: 85,859
    Chris_from_Sidcup said:
    ForeverAddickted said:
    I am... SHOCKED!! - Such a shame for Wednesday though 
    It might not seem like it now but i actually think this a good thing for them. That guy (Bord) seemed very dodgy and there's no way he had the money to fund them long term. Weeks have passed and no one knew where their money was coming from.

    I suspect the withdrawal and their official line of "the club isn't worth what we bid" is just them getting ahead of probably not passing the fit and proper person test. Everyone already knew the club wasn't worth that. 30m+ was a crazy price for a league one club that is trading at a loss, probably has tons of hidden costs from Chansiri's ownership, a pretty awful squad and a stadium that needs millions spent to repair it. Not to mention that since the bid went in the club has lost its captain and a promising young striker.

    Many Wednesday seem to agree although that maybe partialy sour grapes

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