The FINALE of the Mysterious £27 million dividend.

[sweeper5]

Sorry folks, but this has to said.

At the end of March, BaggieBlood first accused Jeremy Peace of taking a £27 million dividend from the Club; he has repeated this claim on numerous occasions since then and has also been backed up by baggieal.

I queried this on several occasions, as did others, but they were adamant that what they were saying was correct. This concerned me, and possibly other posters, as it inferred that the accounts for the year ending 30th June 2016 ( accessible on line if you want to look for yourselves) were not a true picture of what had happened, thus accusing not only Jeremy Peace, but all other officials of the club including the Accountants of Fraud!

On my way home by train after the QPR match, I met up with a friend and we talked about the match. I told him of the accusations that these two were making about that dividend and he registered the same concern; he said that he would write to the Club for an answer.

The other day I received an email from my friend informing me that he had written and had had a reply; he had attached copies of both his letter and the reply, which was from the top! This letter categorically stated that nothing of the kind had happened, what they said was 100% INCORRECT!!!!

That's about the best summary I can give you.

I now call upon these two to apologise for their obvious errors; they have in my opinion besmirched the good name of West Bromwich Albion, the good name of not only Jeremy Peace, but all other officials including the Accountants and must retract what they have said.

I'm pretty sure this will result in their usual diatribe of insults but I'm prepared for that; we wait and see, but as I said at the beginning, it had to be said.

[Albionic68]

I’m not taking sides here Sweep’ as I really can’t be bothered with all the hassle. Well, that and I’m still quite content regarding my previously admitted ignorance of company accounting. However in my eyes your opening post carries even less weight than their accusations; well, without a Pdf attachment of a signed and headed letter along with a photo shot of said email to back it up that is.

I have no wish to question your integrity Sweep’ (or that of your friend), but you must know you’ll be asked to provide proof of their alleged correspondence with the club. If not then you lay yourself open to the same accusations you’ve placed at Blood and Al’s feet. That of no proof, the difference being everyone has access to the previously published accounts. How those accounts are then interpreted is an entirely different matter as seen ad nauseam.

Even if you do provide such ‘proof’ then a back and forth of ‘well they would say that wouldn’t they?’ will undoubtedly ensue, as you all chase each other’s tails in a never ending round of absolute nothingness. For anyone with genuine concerns regards the club’s accounts, I suggest they follow the link below and take whatever action they deem appropriate.

https://www.actionfraud.police.uk/fr...counting-fraud

All of the very best to one and all .

[wbatillidie]

So this isn’t about the lottery draw then

[Albionic68]

So this isn’t about the lottery draw then

May as well be, that or hot air and wind speed .

[talkSAFT]

I’m not taking sides here Sweep’ as I really can’t be bothered with all the hassle. Well, that and I’m still quite content regarding my previously admitted ignorance of company accounting. However in my eyes your opening post carries even less weight than their accusations; well, without a Pdf attachment of a signed and headed letter along with a photo shot of said email to back it up that is.

I have no wish to question your integrity Sweep’ (or that of your friend), but you must know you’ll be asked to provide proof of their alleged correspondence with the club. If not then you lay yourself open to the same accusations you’ve placed at Blood and Al’s feet. That of no proof, the difference being everyone has access to the previously published accounts. How those accounts are then interpreted is an entirely different matter as seen ad nauseam.

Even if you do provide such ‘proof’ then a back and forth of ‘well they would say that wouldn’t they?’ will undoubtedly ensue, as you all chase each other’s tails in a never ending round of absolute nothingness. For anyone with genuine concerns regards the club’s accounts, I suggest they follow the link below and take whatever action they deem appropriate.

https://www.actionfraud.police.uk/fr...counting-fraud

All of the very best to one and all .

Hang on though, Albionic.
I was one (probably of many) who got very angry when I read the posts a few weeks ago because I assumed that
a) Blood had got his facts right, and
b) Peace was a thoroughly nasty capitalist who had lined his pockets. (Selling the Club to another Owner for £175m is only passing on ownership, and it wouldn't bother any fan if he'd sold up for a Billion and swanned off to the Bahamas!)

In fact I ALSO wrote to the Club (as this friend of Sweeper's has) to settle my fury, but I've yet to receive a reply!! I'm obviously relieved to read Sweeper's confirmation that it wasn't a "Dividend" (as I understood the term) after all, but a transfer from WBA FC to WBA Group plc (of which Peace wasn't even a Director). I'd now like to know if this "Transfer" was for Tax Purposes, or for WBA Group to invest the profits earned in 2016 however they wish. The money is STILL within the Group (presumably invested for a rainy day) but whatever Group do with the money is in the interest of the Football Team ultimately.

Does anyone know any more? Presumably The Club didn't think it was any of Sweeper's mate's business how Group invest the money earned in Profit, but I'm just glad they didn't trust Pulis to fritter it away on A.N.Other Defensive midfielder at the time. For all we know they prudently (to use a Peace word!) just kept it as a Liquid Asset until we'd cemented the Club into Premiership for another couple of years.....and THEN redeveloped the Halfords.
If Peace had taken the money out of the Club - and I'd still got a Season Ticket - I'd have sent my Ticket back to the Club, as would many others. BaggieBlood and his Echo - BaggieAl - should never have posted what they did WITHOUT any proof - and although the term "Dividends" SOUNDS like a big payoff for the Directors, they should have been 100% certain before misleading fans on "The Terraces" and Pubs.

[sweeper5]

I don't know when you sent in your query to the club, however you might like to see this, taken from the official wba site.

"A response should then be received by the customer or supporter within four**** days. If a complaint has not been dealt with speedily and efficiently by the office or department concerned, the customer or supporter should then write to The Chief Executive."

[Albionic68]

Hang on though, Albionic............

I am hanging on TS, for proof of Sweep’s friend’s correspondence with the club. You contacted the club and as yet have received no reply. Why assume Sweep’s pal did without corroborating evidence? What makes him more likely to receive a reply than your good self? So for me until such evidence is provided it is merely hearsay, similar to the hearsay accredited to Blood and Al’.

The link provided is for those with a genuine concern over where said reported funds may or may not be. Are they a legal and legitimate dividend? If so tax will need to be paid on them. However, if they have disappeared into the ether it suggests potential fraud and those responsible for such creative accountancy should be held ‘accountable’.

I’d follow the link and make enquiries of my own but as stated I have no idea re accounts. As such I have no concrete cause for concern and I’ll keep my own counsel until I hear otherwise. Why? Because until such time as it’s proven to be more than unsubstantiated b0ll0cks or rumour I’ve no intention of getting in a twist over it on a terrace or in a pub.

Sweep’ quite reasonably asked for proof of Blood and Al’s assertions, they pointed to their interpretation of the accounts. All I’m suggesting is Sweep’ provides proof of his friend’s correspondence with the club as I’m positive he’ll be asked for it by others. It may well be dismissed as suggested in my reply to Sweep’. He is under no obligation to provide said evidence and I certainly won't be asking him for it again, but at least he’ll have something to back himself up with in the eyes of other readers of this forum.

Again, all of the very best to one and all .

[holmleighchris]

I am probably dim but if I owned a business I would expect to take money out of the business. Why shouldn't Peace? So long as he paid tax on it what has he done wrong?

[mickd1961]

I don't know when you sent in your query to the club, however you might like to see this, taken from the official wba site.

"A response should then be received by the customer or supporter within four**** days. If a complaint has not been dealt with speedily and efficiently by the office or department concerned, the customer or supporter should then write to The Chief Executive."

I note you’ve found the time to reply but not to attatch a copy of this letter from the club.

If you’re going to “call out” BB and Al then do so based on proof.

I have no agenda either way btw.....I do agree with 68 that your initial post is as convincing as Albion’s defence at this moment.

[Albionic68]

I am probably dim but if I owned a business I would expect to take money out of the business. Why shouldn't Peace? So long as he paid tax on it what has he done wrong?

Same here Chris and there's nothing wrong with it as such. From memory (which may be fading as this seems to have been dragging on forever) Blood's primary concern was the size of the dividend allied to the price he reportedly received for the club. Ie, greedy so and so in cahoots with his sister to line their pockets to the detriment of West Bromwich Albion. On top of this there have been suggestions from numerous posters that monies have 'disappeared'.