Owls in administration

[MillerBill]

Yes - feel for the genuine fans / symptomatic of the underlying problems in football

The poor sods who are owed money always come out worst.It will be interesting to see what penalties the club receive next season,in points deductions, as we were harshly hammered for a lesser crime.

[Lolmorgan]

What a tw@t chansiri his, he onlyAt last check, Chansiri had injected over ?128m in funding; now, the money, or his appetite to provide it, has dried up.

[avondalemiller]

After Chansiri 1st encounter at Wembley against Hull, which they lost, they didn't get near that prize again. They continued to pay silly wages trying to replicate it and Chansiri picked up the bill for the losses for the next 10 seasons, something some Wendies soon forgot.

Now he's wanting out, and maybe run out of money, nobody loves him. I don't know what will happen to the ground now, will it end up with club as a package? Hope whoever fancying buy them has extra deep pocket which goes with a massive club.

Good luck.

[Ericsladkilnhurst]

Listened tonight to one of the administrators on praise or grumble.
Had to laugh, a owls supporter sent a question in to the administrator.
Could Chansiri put a bid in to buy the club ?
Answer - Yes, but he's no money.
Plus - Didn't think he would pass the EFL Ownership of a club diligence test.

[Townerslovechild]

This was always going to happen, nobody would pay what he wanted, so the inevitable relegation this season, and still more difficult times ahead, but at least the fans still have a club.

[Ericsladkilnhurst]

I posted over a week ago, regarding a employee who phoned into praise or grumble.
Wanted to remain anonymous, she said a fund had been set up to help employees at S.W. but had been told by staff management if they took any money from the fund they would be sacked.
Hopefully that staff management person is named & sacked.

[crookadile]

I posted over a week ago, regarding a employee who phoned into praise or grumble.
Wanted to remain anonymous, she said a fund had been set up to help employees at S.W. but had been told by staff management if they took any money from the fund they would be sacked.
Hopefully that staff management person is named & sacked.

On the other hand it could all be Bullsh!t.

[Ericsladkilnhurst]

Listening to one of the administrators this morning on radio Sheffield.
He said the club had taken over half a million pounds since the club went into administration.
Over 200 thousand pounds of this being merchandise bought at the club shop, in shirts etc.
The rest in ticket sales, programmes, pies etc.
He said they have to allow 28 days after administration, for people to put bids in to buy the club.
These people have then after show they can fund the club, & pass EFL rules to being fit to run the club.
Therefore the clubs wages etc will be paid by the administrators from money coming into the club.

[CAMiller]

Listening to one of the administrators this morning on radio Sheffield.
He said the club had taken over half a million pounds since the club went into administration.
Over 200 thousand pounds of this being merchandise bought at the club shop, in shirts etc.
The rest in ticket sales, programmes, pies etc.
He said they have to allow 28 days after administration, for people to put bids in to buy the club.
These people have then after show they can fund the club, & pass EFL rules to being fit to run the club.
Therefore the clubs wages etc will be paid by the administrators from money coming into the club.

Details here.

https://www.bbc.co.uk/sport/football/articles/cvgm6843m60o

500K since Friday won't all be 'profit' so won't all be able to go towards wages due on 31/10 but it's a start. I guess their monthly wage bill will be in the 1M-2M region.

With regards prospective buyers, 2 hurdles to get over. Convincing the EFL that they are fit for purpose and maybe equally as daunting, presenting a plan to fund the club over the coming years so they don't end up back at square one. Maybe Champions League football in 3 years

[UlleyMiller]

Details here.

https://www.bbc.co.uk/sport/football/articles/cvgm6843m60o

500K since Friday won't all be 'profit' so won't all be able to go towards wages due on 31/10 but it's a start. I guess their monthly wage bill will be in the 1M-2M region.

With regards prospective buyers, 2 hurdles to get over. Convincing the EFL that they are fit for purpose and maybe equally as daunting, presenting a plan to fund the club over the coming years so they don't end up back at square one. Maybe Champions League football in 3 years

£500k is pretty ordinary, bordering on low in the scale of things. According to Deloitte, the average "consistent Championship club" has annual revenues of £31m, so you're looking at around £600k for an average week (obviously this will fluctuate depending on how season tickets are paid for, big drops in summer, etc).

The problems they have aren't purely Chansiri issues. He funded the club and seemingly had a fractious relationship with spreadsheets, but he didn't assess and manage every transaction.

Personally, I couldn't care less if they survive or the whole thing disappeared and had to be a 'phoenix', seventh tier job, but what is important to me is fairness. We were battered by deductions and there was very little talk outside the local area of the history of our club - the difference with this lot is stark. Whatever happens around the amounts Chansiri is owed (allegedly over £115m) and how the FA/EFL handle punishments need to be transparent and above board. Chansiri shouldn't be scapegoated in isolation for the whole mess, nor cut out of payments, and it needs to be clear to all which infractions lead to points deductions (Reading seemed to get hit pretty regularly compared to the Wendies).

[Jocksgloves1]

Worth a tenner on Wendy for the third division title next season?

[Lolmorgan]

Worth a tenner on Wendy for the third division title next season?

It?s a long way to go first, if no buyer comes in then the administration team will sell their better players to balance the books.

[uttis]

All seems very positive at the minute admin guy on calendar reckons they have had several people express an interest, let’s see how many stay the course when they see the scale of the debt involved, knowing how fortunate the Piggies are they’ll end up with some Sheikh with more money than sense and all the Piggy fans will get their usual dilusions of grandeur and they will be in Prem in 5 years blah blah

[BramleyMiller58]

Presumably the 5x transfer window ban still applies ?

[Pocket rocket]

£500k is pretty ordinary, bordering on low in the scale of things. According to Deloitte, the average "consistent Championship club" has annual revenues of £31m, so you're looking at around £600k for an average week (obviously this will fluctuate depending on how season tickets are paid for, big drops in summer, etc).

The problems they have aren't purely Chansiri issues. He funded the club and seemingly had a fractious relationship with spreadsheets, but he didn't assess and manage every transaction.

Personally, I couldn't care less if they survive or the whole thing disappeared and had to be a 'phoenix', seventh tier job, but what is important to me is fairness. We were battered by deductions and there was very little talk outside the local area of the history of our club - the difference with this lot is stark. Whatever happens around the amounts Chansiri is owed (allegedly over £115m) and how the FA/EFL handle punishments need to be transparent and above board. Chansiri shouldn't be scapegoated in isolation for the whole mess, nor cut out of payments, and it needs to be clear to all which infractions lead to points deductions (Reading seemed to get hit pretty regularly compared to the Wendies).

Well said. 👏🏻👏🏻