Attention: Please take a moment to consider our terms and conditions before posting.
Sheffield Wednesday - Into Administration (p44)
Comments
-
It sucks for their fans but I can't pretend I'm not happy to see a team below us lose 12 points, all I care about is staying in this division and I'm not kidding myself that we're anything like safe after 11 games. I have to hope 3 different teams go down and they can be one of them. Hopefully they get bought by a sensible owner who treats the club and fans with respect after they're relegated.10
-
Already several potential parties have come forward today.
They want to do it before January so they can then start bringing in free transfers and loans.0 -
No sympathy at all,they are paying Bannan c£30.ooo a week,this sort of wage outside the premier league,is ridiculous,they where probably paying over the odds to many others,in their pursuit of premier league football.I am pretty sure that when the Film stars get bored with Wrexham,the same thing will happen.If they dont get to the top league,they will have a massive unafordable wage bill.4
-
tbh..........Feck em2
-
Does he still own their stadium? Thought he sold it to another company that he owned0
-
The grounds company "Sheffield 3 ltd" has also gone into administration so the administrators have got that to sell on with the club.Jac_52 said:Does he still own their stadium? Thought he sold it to another company that he owned2 -
.1
-
Good pointHenry Irving said:.5 -
I'm not bothered about the league position aspect, as I expected them to finish bottom anyway.Garrymanilow said:It sucks for their fans but I can't pretend I'm not happy to see a team below us lose 12 points, all I care about is staying in this division and I'm not kidding myself that we're anything like safe after 11 games. I have to hope 3 different teams go down and they can be one of them. Hopefully they get bought by a sensible owner who treats the club and fans with respect after they're relegated.
If we couldn't finish above a complete basket case of a club, then we would have deserved to go down.5 -
I think we should look to buy their training ground to use as our northern base for whenever the EFL mess up the fixtures and give us two aways in a week ooop norf. We could lease it back to the Wendies whenever we didn't need it.Henry Irving said:I think our owners should buy the club to run as feeder/reserve team and buy Hillsborough to swap with Roland for the Valley.
Do they have a scoreboard?
Though, of course, not owning our own training down south we'd hold the unwanted record of being the club furthest from it's training ground.3 -
Sponsored links:
-
I see the administrators have been indoctrinated already:
One of them is quoted as saying "Sheffield Wednesday is a massive, historic club...."4 -
So - am I right - Wendies get an automatic 12 point deduction for administration - but no deduction for paying their players late for 3 months running? EFL wrapping them in cotton wool again?2
-
So, going into administration means that lots of creditors will not be paid, including HMRC? Workforce will be cut to the bone, so people will lose their jobs. There is a massive fallout when a club goes into administration, people with children and mortgates to pay, taxes that would have gone into the public purse to support the NHS, police, whatever.
A 12 point deduction seems leniant to me. I'm old enough to remember Luton Town getting a 30 point deduction for something less.
Reading comments from the EFL and the Government advisory board, they appear to be fawning over the vision of saving an historic club, but there is no mention of the hardship that this will cause local creditors.
The SW fans seem really happy with this outcome, tearing up the Chansiri seats, I guess they are hoping for some rich Americans coming over the hill.
To me, it just sucks, too many people, and taxpayers have been shafted by administration, and I have no doubt that someone will bail them out.
I still go back to so many people supporting this historic club must survive, but to me, there should be stricter rules re administration, it is too easy for struggling teams.
My solution is an immediate 2 league relegation. The only problem with this solution is that I'm not sure it would put dodgy owners off, but it might make clubs do more research and due diligence on prospective owners.8 -
Listened to radio Sheffield and it had one of the administrators ( actually a Wednesday fan ) on the show.moutuakilla said:
If they've taken them out without breaking them the could just jumble the blue and white seats up.addickson said:
Surely they can't be allowed to spend money on something so petty if they are in admin?fenaddick said:The Chansiri seats are being removed already. A cosmetic change but a good one
12 points is very lenient. In Scotland it's a 15 point deduction (with 10 less games in a league season) with a further 5 points deducted the following season.
He said they had spare blue seats available that could be used.
All the fans that phoned in were obviously over the moon that he has gone and don't seem that bothered about being in administration or the 12 point deduction right now.
Many of them that hadn't been to Hillsborough for multiple years can now go and watch their team play again.
£75,000 been spent in the club shop today.2 -
Heard Sandgaard was looking to get back into English football…8
-
Karma1
-
Usually doessoapy_jones said:
Good pointHenry Irving said:.0 -
In two minds here. Although I despise most of their fans I have come across, through their bad behaviour I don't like seeing any club go into administration.
We are all one bad owner from doing the same and boy have we had them in the last few years.
Sometimes in takes a few years for some of those fans to experience a bit of lower league humility, I doubt some of these will.
3 -
Tommy Boy and his band will add to the rich history of Sheffield groups.Callumcafc said:Heard Sandgaard was looking to get back into English football…
Def Leopard
Pulp
Human League
Heaven 17
To name a few.
Am sure there are many more.
3 -
Judging by Zynexs stock price I doubt he's got the cash anymore....Callumcafc said:Heard Sandgaard was looking to get back into English football…0 -
Sponsored links:
-
Possibly BB will go in January against his own wishes, if the administrator wants to maximise revenue.Swindon_Addick said:
An administrator has to get the best deal for the people owed money by the failed businesses, so can't prioritise keeping club and stadium together. However it has to be quite likely that the two together will be of more value to a purchaser than either on its own, which with any luck will mean that the best offer for both comes from the same person.fenaddick said:Glad he’s also put the stadium company into admin, just hope the administrators are sensible and sell the assets and club together
interstingly enough, in administration or not, money needs to be found to pay wages and day today management \ admin costs, as well as the administrators costs which will not be free. there probably will be a pretty prompt set of redundancies of staff, many of who have kept the club going and will be fans. Didn't the FA give special dispensation to a club in administration a few years ago to sell players? Can the administrator tear up loan contracts and send them back to parent clubs, if they have any?0 -
We got threesoapy_jones said:
Good pointHenry Irving said:.2 -
The family of my son's girlfriend are all life long Sheffield Wednesday fans. They are very happy with this. Even bought tickets for tomorrow's match v Oxford to celebrate, travelling from Peckham Rye.0
-
No sympathy. Me and another poster on here got started on outside after our fa cup win so fuck em. They’re too big to go out of business but let them suffer for a while.5
-
Good for the employees they’re getting it resolved but hope the fanbase rot in L1 for a few years, give them some renewed perspective.2
-
It seemed obvious they were being run badly enough not to make it through the full season. I don't understand how Chansiri managed to prove to EFL that he would put the required money in for a full season. I guess the unexpected HMRC bill completely turned it upside down (although he wasn't paying wages on time anyway).0
-
I’m still puzzled by Chansiri’s approach to this whole saga, particularly the refusal to sell at a decent price a few months ago.On the face of it, it looks like he’s thrown a ton of money away, but I’m dubious. It does make me wonder if he’s playing 4D chess here? How does he stand to gain from this? Some of you lot are far more knowledgeable about money matters than me, so is there some loophole he’s exploited?The only thing I can think of is that maybe his plan is to effectively end up back in control after the sale of the club through being linked to whoever ends up buying them? Presumably administration will remove a lot of the club debt so he’d end up benefitting this way? I don’t know, I assume there are restrictions in place to prevent this, (for one, would he have any say in who the successful buyer is?) but if you’re dodgy enough and willing enough to use underhand tactics to make money, could he find a way around these restrictions?
I don’t know, I’m just kicking ideas around with no real knowledge of how these things work. I just don’t believe he’s taken this path without ensuring he makes money out of it.1 -
stevexreeve said:
Administration is surely a good way to address some of these issues. It effectively lets a club (or any other business) wipe its most of its debt and become a "viable" business again.Karim_myBagheri said:Something I guess we already all know but found it sad to hear that the administrators have said
"Like many football clubs, it has been trading at a significant loss for many years, with those losses historically funded by the owner. Mr Chansiri is no longer willing to provide that financial support"
and this the football authorities, the TV companies, the richest clubs in the premier League and the government still do nothing about to relieve this pressure on so many historic clubs. Of course this is a global game and we need other leagues and countries involved but surely the richest football nation should be setting an example and being first to address these issues. How they do that I don't exactly but the way it's going it's not sustainable.
Shef Wed without debt are always going to be a viable business even if they are dumped into the 9th tier of the pyramid!
As we learnt from Southall, it is owners who simply take company money and spend it on themselves that need to be legally stopped. But this applies to all businesses (including schools) not just football!
It's not a good way for the people that are owed money.3 -
Palace screwed a large numbet of local suppliers when they went into administration. It was against this background that the foundations of their rise and Premiership success was built.iaitch said:stevexreeve said:
Administration is surely a good way to address some of these issues. It effectively lets a club (or any other business) wipe its most of its debt and become a "viable" business again.Karim_myBagheri said:Something I guess we already all know but found it sad to hear that the administrators have said
"Like many football clubs, it has been trading at a significant loss for many years, with those losses historically funded by the owner. Mr Chansiri is no longer willing to provide that financial support"
and this the football authorities, the TV companies, the richest clubs in the premier League and the government still do nothing about to relieve this pressure on so many historic clubs. Of course this is a global game and we need other leagues and countries involved but surely the richest football nation should be setting an example and being first to address these issues. How they do that I don't exactly but the way it's going it's not sustainable.
Shef Wed without debt are always going to be a viable business even if they are dumped into the 9th tier of the pyramid!
As we learnt from Southall, it is owners who simply take company money and spend it on themselves that need to be legally stopped. But this applies to all businesses (including schools) not just football!
It's not a good way for the people that are owed money.6 -
It could well be he has just run of available cash or loans and there is no other way out.lordromford said:I’m still puzzled by Chansiri’s approach to this whole saga, particularly the refusal to sell at a decent price a few months ago.On the face of it, it looks like he’s thrown a ton of money away, but I’m dubious. It does make me wonder if he’s playing 4D chess here? How does he stand to gain from this? Some of you lot are far more knowledgeable about money matters than me, so is there some loophole he’s exploited?The only thing I can think of is that maybe his plan is to effectively end up back in control after the sale of the club through being linked to whoever ends up buying them? Presumably administration will remove a lot of the club debt so he’d end up benefitting this way? I don’t know, I assume there are restrictions in place to prevent this, (for one, would he have any say in who the successful buyer is?) but if you’re dodgy enough and willing enough to use underhand tactics to make money, could he find a way around these restrictions?
I don’t know, I’m just kicking ideas around with no real knowledge of how these things work. I just don’t believe he’s taken this path without ensuring he makes money out of it.1
