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Sheffield Wednesday - Into Administration (p44)

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  • golfaddick
    golfaddick Posts: 35,295
    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
    And they have been funding the club during the last 2 months.....at a loss of c£1m pm. None if which is refundable.

    I wonder if our friendly Accountant & his Solicitor pal are interested 😀
  • swordfish
    swordfish Posts: 4,274
    P'raps we should have a whip round. Don't want to lose the three points we took off them earlier in the season if it's the end, not that I think it will be. 
  • killerandflash
    killerandflash Posts: 71,337
    golfaddick said:
    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
    And they have been funding the club during the last 2 months.....at a loss of c£1m pm. None if which is refundable.

    I wonder if our friendly Accountant & his Solicitor pal are interested 😀

    Bannan, Cadamarteri and an academy player were sold in January, which covered much of the losses you imagine
  • fenaddick
    fenaddick Posts: 16,982
    Isn't Bord being sued by someone at another club he's involved with? That's surely the real reason he's pulled out
  • MarcusH26
    MarcusH26 Posts: 9,385
    fenaddick said:
    Isn't Bord being sued by someone at another club he's involved with? That's surely the real reason he's pulled out
    Yeah his ex business partner is suing him for not declaring how much debt there was at Cordoba. Bord said it was debt free , was actually £20m in the red 
  • cfgs
    cfgs Posts: 11,673
    swordfish said:
    P'raps we should have a whip round. Don't want to lose the three points we took off them earlier in the season if it's the end, not that I think it will be. 
    Some of our rivals may have already taken more off them.  
  • CaptainRobbo
    CaptainRobbo Posts: 1,751
    cfgs said:
    swordfish said:
    P'raps we should have a whip round. Don't want to lose the three points we took off them earlier in the season if it's the end, not that I think it will be. 
    Some of our rivals may have already taken more off them.  
    Only Portsmouth and Blackburn have played them twice so far.
    Wednesday actually managed their only win this season over Pompey, with Pompey winning the return game.
    Blackburn won one and drew one.
    Norwich play them tonight and drew the other game.
    Wouldn't really benefit us much if they couldn't finish the season as it stands ATM.
  • cfgs
    cfgs Posts: 11,673
    CaptainRobbo said:
    cfgs said:
    swordfish said:
    P'raps we should have a whip round. Don't want to lose the three points we took off them earlier in the season if it's the end, not that I think it will be. 
    Some of our rivals may have already taken more off them.  
    Only Portsmouth and Blackburn have played them twice so far.
    Wednesday actually managed their only win this season over Pompey, with Pompey winning the return game.
    Blackburn won one and drew one.
    Norwich play them tonight and drew the other game.
    Wouldn't really benefit us much if they couldn't finish the season as it stands ATM.
    Well that theory lasted no time at all. 🤣
  • Athletico Charlton
    Athletico Charlton Posts: 14,721
    So if they are out of cash and need to move on other players, can they do that outside the window?  Would be helpful if they are even more depleted by the time we play them in April
  • Chris_from_Sidcup
    Chris_from_Sidcup Posts: 36,851
    Athletico Charlton said:
    So if they are out of cash and need to move on other players, can they do that outside the window?  Would be helpful if they are even more depleted by the time we play them in April
    Administrators have already said they have enough money to complete the season.

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  • CaptainRobbo
    CaptainRobbo Posts: 1,751
    Athletico Charlton said:
    So if they are out of cash and need to move on other players, can they do that outside the window?  Would be helpful if they are even more depleted by the time we play them in April
    They may be down to the bare bones by the time we play them.





  • lolwray
    lolwray Posts: 4,993
    I know this might be a stupid question. 
    Why did the Administrator annouce Bord as the preferred bidder as opposed to some who were in a better position? Eg Ashley? 

    If I have missed something so glaringly obvious apologies in advance..currently jet lagged in Singapore 
  • Chris_from_Sidcup
    Chris_from_Sidcup Posts: 36,851
    lolwray said:
    I know this might be a stupid question. 
    Why did the Administrator annouce Bord as the preferred bidder as opposed to some who were in a better position? Eg Ashley? 

    If I have missed something so glaringly obvious apologies in advance..currently jet lagged in Singapore 
    Their job is to try and secure the best deal. Bord's bid was the highest by far, apparently £47.8m which is a crazy sum for a club in that state.

    I don't think they take into consideration who might be best long term. If Bord bid 47m and Ashley bid (for example) 30m, i think they are obliged to accept the highest offer.
  • BalladMan
    BalladMan Posts: 1,305
    edited February 26
    Chris_from_Sidcup said:
    lolwray said:
    I know this might be a stupid question. 
    Why did the Administrator annouce Bord as the preferred bidder as opposed to some who were in a better position? Eg Ashley? 

    If I have missed something so glaringly obvious apologies in advance..currently jet lagged in Singapore 
    Their job is to try and secure the best deal. Bord's bid was the highest by far, apparently £47.8m which is a crazy sum for a club in that state.

    I don't think they take into consideration who might be best long term. If Bord bid 47m and Ashley bid (for example) 30m, i think they are obliged to accept the highest offer.
    Chris_from_Sidcup said:
    lolwray said:
    I know this might be a stupid question. 
    Why did the Administrator annouce Bord as the preferred bidder as opposed to some who were in a better position? Eg Ashley? 

    If I have missed something so glaringly obvious apologies in advance..currently jet lagged in Singapore 
    Their job is to try and secure the best deal. Bord's bid was the highest by far, apparently £47.8m which is a crazy sum for a club in that state.

    I don't think they take into consideration who might be best long term. If Bord bid 47m and Ashley bid (for example) 30m, i think they are obliged to accept the highest offer.
    The irony is the administrators are Sheff Wed fans, so probably knew this guy was a chancer, but could do nothing about it as they had to take the ‘best’ bid for the club. They probably even knew we would not pass the fit and proper test. Football is a mess. 
  • lolwray
    lolwray Posts: 4,993
    Chris_from_Sidcup said:
    lolwray said:
    I know this might be a stupid question. 
    Why did the Administrator annouce Bord as the preferred bidder as opposed to some who were in a better position? Eg Ashley? 

    If I have missed something so glaringly obvious apologies in advance..currently jet lagged in Singapore 
    Their job is to try and secure the best deal. Bord's bid was the highest by far, apparently £47.8m which is a crazy sum for a club in that state.

    I don't think they take into consideration who might be best long term. If Bord bid 47m and Ashley bid (for example) 30m, i think they are obliged to accept the highest offer.
    Thanks for that it just confirms what I thought... plain ludicrous 
  • T_C_E
    T_C_E Posts: 16,542
    moutuakilla said:
    ForeverAddickted said:
    I'm still trying to work out what a "crypto bro" is...

    Tut, Tut. 😉
  • Athletico Charlton
    Athletico Charlton Posts: 14,721
    It is fundamentally an administrator’s job to get the best return for the company's creditors as a whole. The legal objective is to achieve a better result for the creditors than would be likely if the company were immediately wound up (liquidated). 
  • letthegoodtimesroll
    letthegoodtimesroll Posts: 11,153
    Will this have an impact at the EFL on the Leicester case. Kicking cans down the road just makes the mess tougher to clean up later.
  • thenewbie
    thenewbie Posts: 11,321
    letthegoodtimesroll said:
    Will this have an impact at the EFL on the Leicester case. Kicking cans down the road just makes the mess tougher to clean up later.
    Shouldn't do, they are two separate things and will be looked at by different people.
  • JohnnyH2
    JohnnyH2 Posts: 5,465
    https://x.com/i/status/2028887941100257301

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  • ElfsborgAddick
    ElfsborgAddick Posts: 29,916
    JohnnyH2 said:
    https://x.com/i/status/2028887941100257301

    He's been seen in the directors box there earlier this season.
    He joined up with Walton and Hersham recently as well, he gets about a bit.
  • golfaddick
    golfaddick Posts: 35,295
    ElfsborgAddick said:
    JohnnyH2 said:
    https://x.com/i/status/2028887941100257301

    He's been seen in the directors box there earlier this season.
    He joined up with Walton and Hersham recently as well, he gets about a bit.
    He was seen on the golf course at Sundridge Park last week. Is he buying the Golf club as well  ?
  • TelMc32
    TelMc32 Posts: 9,280
    golfaddick said:
    ElfsborgAddick said:
    JohnnyH2 said:
    https://x.com/i/status/2028887941100257301

    He's been seen in the directors box there earlier this season.
    He joined up with Walton and Hersham recently as well, he gets about a bit.
    He was seen on the golf course at Sundridge Park last week. Is he buying the Golf club as well  ?
    He should have a word with Tony Jimenez if he is 😉
  • ElfsborgAddick
    ElfsborgAddick Posts: 29,916
    golfaddick said:
    ElfsborgAddick said:
    JohnnyH2 said:
    https://x.com/i/status/2028887941100257301

    He's been seen in the directors box there earlier this season.
    He joined up with Walton and Hersham recently as well, he gets about a bit.
    He was seen on the golf course at Sundridge Park last week. Is he buying the Golf club as well  ?

    For the members sake I hope not, to cut costs he'd make all tees to be off a mat and make the greens temporary.
  • bobmunro
    bobmunro Posts: 21,460
    golfaddick said:
    ElfsborgAddick said:
    JohnnyH2 said:
    https://x.com/i/status/2028887941100257301

    He's been seen in the directors box there earlier this season.
    He joined up with Walton and Hersham recently as well, he gets about a bit.
    He was seen on the golf course at Sundridge Park last week. Is he buying the Golf club as well  ?
    7-iron?

  • ElfsborgAddick
    ElfsborgAddick Posts: 29,916
    edited March 3
    bobmunro said:
    golfaddick said:
    ElfsborgAddick said:
    JohnnyH2 said:
    https://x.com/i/status/2028887941100257301

    He's been seen in the directors box there earlier this season.
    He joined up with Walton and Hersham recently as well, he gets about a bit.
    He was seen on the golf course at Sundridge Park last week. Is he buying the Golf club as well  ?
    7-iron?


    Probably paying a wedge for it as well.
  • Blackheathen
    Blackheathen Posts: 6,738
    Sounds rough
  • fenaddick
    fenaddick Posts: 16,982
    None of the bidders plan to give Chansiri the £15m needed to stop them starting on -15 points next season

    https://www.skysports.com/football/news/11095/13517704/sheffield-wednesday-owls-could-start-2026-27-league-one-season-with-15-point-deduction-unless-dejphon-chansiri-paid-lb15m
  • golfaddick
    golfaddick Posts: 35,295
    fenaddick said:
    None of the bidders plan to give Chansiri the £15m needed to stop them starting on -15 points next season

    https://www.skysports.com/football/news/11095/13517704/sheffield-wednesday-owls-could-start-2026-27-league-one-season-with-15-point-deduction-unless-dejphon-chansiri-paid-lb15m
    Bad strategy imo. Almost certainly get relegated into League 2 if you start off the new season with minus 15 points. How much will the club lose then ??

    Also not very attractive to any new players that you want to sign & therefore it becomes a downward spiral. 

    False economy. Pay him the 25p in the £ and start afresh. And I'm.sure that's what they'll have to do if they dont want to see Sheff Wed in League 2 the season after next. 
  • se9addick
    se9addick Posts: 32,565
    golfaddick said:
    fenaddick said:
    None of the bidders plan to give Chansiri the £15m needed to stop them starting on -15 points next season

    https://www.skysports.com/football/news/11095/13517704/sheffield-wednesday-owls-could-start-2026-27-league-one-season-with-15-point-deduction-unless-dejphon-chansiri-paid-lb15m
    Bad strategy imo. Almost certainly get relegated into League 2 if you start off the new season with minus 15 points. How much will the club lose then ??

    Also not very attractive to any new players that you want to sign & therefore it becomes a downward spiral. 

    False economy. Pay him the 25p in the £ and start afresh. And I'm.sure that's what they'll have to do if they dont want to see Sheff Wed in League 2 the season after next. 
    Does not paying the £15M also mean a transfer embargo for this summers window? If “yes” (or if they are under embargo either way), then it’s definitely worth paying the £15M as without reinforcements a 15 point penalty would very likely mean relegation. 

    If “no” and they can spend money in the summer then I would spend some/all of the £15M on the transfer budget instead as that is a huge amount in L1 and is a better investment even if it means staring on -15.

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