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Thread: Minus 12 for Wendy

  1. #41
    Join Date
    Jan 2008
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    Quote Originally Posted by Grist_To_The_Mill View Post
    Yes so far, but no club has yet had an accounting period that includes the covid period
    Grist, TS recently quoted it will probably cost him between £5000,000 to £750,000 for the covid shutdown. A lot of money on RUFC’s scale of football stature. Peanuts to cheats though.

  2. #42
    Join Date
    Apr 2006
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    Quote Originally Posted by caytonmiller View Post
    I'm not even sure what Wednesday did was illegal. More a loop hole.
    They had a asset. They sold it. They got 60 million.
    TS regularly puts his own cash into rufc via investment/sponsorship It's just on a smaller scale.
    What they did was include the sale of Hillsborough in their 2017/18 accounts to generate a small trading profit of £2.5 million for that season otherwise they would have made a huge loss and clearly breached FFP rules. But, and it's a big but, the actual sale of Hillsborough didn't take place until the following season so the transaction should not have been included in the earlier accounts.
    I don't know whether what they did is illegal in accounting terms but, at best, it's certainly sharp practice and the punishment seems like a mere slap on the wrist.

  3. #43
    Join Date
    Apr 2017
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    2,431
    Quote Originally Posted by caytonmiller View Post
    I'm not even sure what Wednesday did was illegal. More a loop hole.
    They had a asset. They sold it. They got 60 million.
    TS regularly puts his own cash into rufc via investment/sponsorship It's just on a smaller scale.
    I think part of the issue is the gross overvaluation of the ground to avoid falling foul of fairplay rules.

  4. #44
    Join Date
    Jan 2013
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    8,199
    Quote Originally Posted by mellowmiller View Post
    What they did was include the sale of Hillsborough in their 2017/18 accounts to generate a small trading profit of £2.5 million for that season otherwise they would have made a huge loss and clearly breached FFP rules. But, and it's a big but, the actual sale of Hillsborough didn't take place until the following season so the transaction should not have been included in the earlier accounts.
    I don't know whether what they did is illegal in accounting terms but, at best, it's certainly sharp practice and the punishment seems like a mere slap on the wrist.
    Aye. I can see why the EFL have given them - 12 points it's deff being dishones and trying to cook the books but the actual sale was not illegal. That's why derby and reading will prob get away with it.

  5. #45
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    Apr 2006
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    Quote Originally Posted by caytonmiller View Post
    Aye. I can see why the EFL have given them - 12 points it's deff being
    dishones and trying to cook the books but the actual sale was not illegal. That's why derby and reading will prob get away with it.
    I'm not sure how the sale was made. Presumably Chansiri already owned the ground so he subsequently decided what it was worth and then created a new company to sell it to. It may not be illegal but it certainly sounds as though it ought to be!

  6. #46
    Join Date
    Jul 2018
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    226
    Quote Originally Posted by Brin View Post
    We’ve managed it. Then again, we stay within the fair play rules and have a great Chairman whose prudent eye to detail and thrifty spending has kept us in good stock on the balance sheet.

    Shame that some Chairmen eye the green eyed monster of promotion at all costs, serves them right.
    Brin, the great football writer Brian Glanville didn't name the Premier league "the greed is good league" for nothing. The sheer stupendous amount of gold at the end of the PL rainbow drives them to do whatever it takes to get there.

  7. #47
    Join Date
    Jan 2008
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    Quote Originally Posted by Galley On View Post
    Brin, the great football writer Brian Glanville didn't name the Premier league "the greed is good league" for nothing. The sheer stupendous amount of gold at the end of the PL rainbow drives them to do whatever it takes to get there.
    Galley, in all seriousness can you ever see TS doing just that in order to get to the Prem?

  8. #48
    Join Date
    Jul 2018
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    226
    Quote Originally Posted by Brin View Post
    Galley, in all seriousness can you ever see TS doing just that in order to get to the Prem?
    No Brin I can't, thank goodness. It would only happen through by a freak run of results that would put the Millers into a play-off place. TS would not put the club in jeopardy. For him its about value for money and good stewardship. Long may it last.

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