Mundell - the December 1st deadline is for financials to be delivered to the League. I am not sure though whether this means full audited accounts or selected (by the League) management accounts, which confirm turnover/expenditure/profit(loss).
I don't know what resource they have put in place to review these accounts but as they will need to assess 72 clubs in 21 working days, I wouldn't be surprised if it is initially an overview, with detailed analysis of those breaching or borderline.
Thanks TelMc32. That's helpful and makes sense. I guess we may well have to wait a little longer for the full audited account to be filed.
Audited accounts generally are due within 9 months. I've no background on whether all clubs are the same, but CA Holdings Ltd is a 30 June year end, with financials due at Companies House by 31 March the following year.
I think the League have given themselves a very tight timeline to review these in December and be ready to impose sanctions in January, ahead of the transfer window opening.
Mundell - the December 1st deadline is for financials to be delivered to the League. I am not sure though whether this means full audited accounts or selected (by the League) management accounts, which confirm turnover/expenditure/profit(loss).
I don't know what resource they have put in place to review these accounts but as they will need to assess 72 clubs in 21 working days, I wouldn't be surprised if it is initially an overview, with detailed analysis of those breaching or borderline.
Thanks TelMc32. That's helpful and makes sense. I guess we may well have to wait a little longer for the full audited account to be filed.
I think the League have given themselves a very tight timeline to review these in December and be ready to impose sanctions in January, ahead of the transfer window opening.
You're making a very important point which I hadn't really thought about. The timetable really is very tight, especially if we consider that Clubs may argue about eligible add backs and their plans to achieve compliance etc. I wonder just how many Clubs will end up with an embargo this time next year? I suppose a mitigant might be that some (many?) Clubs, like Charlton for example, might be very clean and simple, leaving much more time to work on the miscreants.
The clubs will start filing accounts between now and end March for last season and from this everyone will have a good indication of the 50%+ like Charlton who will definitely be compliant. Some will be borderline and some will be way over. Someone did post a while back that they had little faith in the ability of the authorities to challenge numbers like add backs and sponsorship deals at our level and within the UEFA fairplay rules.
You may recall that the chair of Brighton made it clear that he believed certain clubs were making no attempt to cutback as they chased promotion whereas he suggested that Brighton were making £3M of cuts to comply (and save him injecting more cash!) When we last looked there were c. four clubs seriously over the limit. But Boro have made serious savings and have also had another big drop in gates and then we have QPR.
This may be a stupid question AB but if RD hasn't bought Baton then does Baton still own The Valley and would that mean Tony Jimenez Kevin Cash owns The Valley and not Charlton and not RD?
If nothing else has happened, it would mean Baton (and therefore its other subsidiary which owns The Valley) is still owned by the BVI company and Murray 90/10, presumably. But this is all very hypothetical.
sounds like a great bit of business for TJ and Co but not to good for RD
I really would wish though that people try to take a bit of time to focus solely on the football not the off field issues life on here was so much more enjoyable without the dectective work
Didn't the statement say that RD has bought a 100% stake of the club? I would imagine that would be everything to do with the club, and why Murray is now Non executive chairman, no money involved just on the board for some continuity
The statement actually said that RD has bought 100% of owner Tony Jiminez shares. This was a question I asked on the takeover thread, is it the club that has been bought or just TJs shares ?
Didn't the statement say that RD has bought a 100% stake of the club? I would imagine that would be everything to do with the club, and why Murray is now Non executive chairman, no money involved just on the board for some continuity
The statement actually said that RD has bought 100% of owner Tony Jiminez shares. This was a question I asked on the takeover thread, is it the club that has been bought or just TJs shares ?
MS has gone as well, which suggests that RD has brought more than TJ shares'.
Didn't the statement say that RD has bought a 100% stake of the club? I would imagine that would be everything to do with the club, and why Murray is now Non executive chairman, no money involved just on the board for some continuity
The statement actually said that RD has bought 100% of owner Tony Jiminez shares. This was a question I asked on the takeover thread, is it the club that has been bought or just TJs shares ?
MS has gone as well, which suggests that RD has brought more than TJ shares'.
I would say it's everything, as he's also got Murray's shares too. The statement wording was probably meant to be clear. They hadn't figured on our conspiracy theory minds!! ;-)
Anyone had a look on the directors page on the OS today? I tried earlier but it wouldn't load up.
Indeed, just reverts to the home page when you click on the directors page. I suspect it is either "under construction" awaiting appointments to be made by the head honcho or it will disappear altogether.
Comments
I think the League have given themselves a very tight timeline to review these in December and be ready to impose sanctions in January, ahead of the transfer window opening.
You may recall that the chair of Brighton made it clear that he believed certain clubs were making no attempt to cutback as they chased promotion whereas he suggested that Brighton were making £3M of cuts to comply (and save him injecting more cash!)
When we last looked there were c. four clubs seriously over the limit. But Boro have made serious savings and have also had another big drop in gates and then we have QPR.
I tried earlier but it wouldn't load up.
sounds like a great bit of business for TJ and Co but not to good for RD
I really would wish though that people try to take a bit of time to focus solely on the football not the off field issues life on here was so much more enjoyable without the dectective work
Maybe RM will shed some light to some of these questions. Well done to the Trust on getting a quick meeting.