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Author Topic: New beginnings - 25% Truth, 80% Bollocks  (Read 1122631 times)
STFC_Manc

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« Reply #1785 on: Tuesday, May 17, 2022, 22:13:51 »

It makes zero sense to pay off the debt now, when we are less than a month away from it lifting anyway. 

It must be an error from the EFL.
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Shrivvy Road

« Reply #1786 on: Wednesday, May 18, 2022, 07:00:25 »

It's not an error, we paid the first part off that needed paying and the rest is interest free so we are out of the embargo
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« Reply #1787 on: Wednesday, May 18, 2022, 07:18:56 »

It makes zero sense to pay off the debt now, when we are less than a month away from it lifting anyway.  

It must be an error from the EFL.

It would allow us to offer longer contracts sooner wouldn't it?

July 1st is a bit late if that's when it would naturally expire, isn't the league starting early next season?
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reeves4england

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« Reply #1788 on: Wednesday, May 18, 2022, 08:47:36 »

It would allow us to offer longer contracts sooner wouldn't it?

July 1st is a bit late if that's when it would naturally expire, isn't the league starting early next season?
Starts a week earlier than usual I think... July 30th
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Legends-Lounge

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« Reply #1789 on: Wednesday, May 18, 2022, 10:25:13 »

If there was anything to pay off whether we needed to or not and the club have paid it the. There must be a reason to have done so.
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ChalkyWhiteIsGod
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« Reply #1790 on: Wednesday, May 18, 2022, 10:27:33 »

If there was anything to pay off whether we needed to or not and the club have paid it the. There must be a reason to have done so.

It was done to ensure we could tie Charlie Austin down to a decent contract :-)
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TheDukeOfBanbury

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« Reply #1791 on: Wednesday, May 18, 2022, 10:33:53 »

Clubs have to communicate by the end of May their retained list.
Makes perfect sense to be ahead of the game.
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dalumpimunki

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« Reply #1792 on: Wednesday, May 18, 2022, 10:41:09 »

If there was anything to pay off whether we needed to or not and the club have paid it the. There must be a reason to have done so.

I don't think we've paid it off. We've made the initial year's repayment of the covid hardship loan, have agreed a plan to pay back the rest over the next few years, and have accepted the embargo for the 2021/22 season as the price of paying it back over time.

That season proper is now over, so I guess that's the end of the embargo, hence we're off the list. Other clubs embargoes must be related to other issues I guess.
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Shrivvy Road

« Reply #1793 on: Wednesday, May 18, 2022, 11:52:57 »

I don't think we've paid it off. We've made the initial year's repayment of the covid hardship loan, have agreed a plan to pay back the rest over the next few years, and have accepted the embargo for the 2021/22 season as the price of paying it back over time.

That season proper is now over, so I guess that's the end of the embargo, hence we're off the list. Other clubs embargoes must be related to other issues I guess.
Spot on
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Legends-Lounge

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« Reply #1794 on: Wednesday, May 18, 2022, 12:07:20 »

I don't think we've paid it off. We've made the initial year's repayment of the covid hardship loan, have agreed a plan to pay back the rest over the next few years, and have accepted the embargo for the 2021/22 season as the price of paying it back over time.

That season proper is now over, so I guess that's the end of the embargo, hence we're off the list. Other clubs embargoes must be related to other issues I guess.

Well that explains it. Other than the play offs, the season is over so to say you’re ‘free’ to conduct transfer business unhindered seems a sensible decision, even if it is a few weeks before the ‘official’ deadline clause.
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Power to people

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« Reply #1795 on: Thursday, May 19, 2022, 08:18:22 »

I thought new contracts get agreed etc and they officially start on July 1 as that always gives those out of contract / released that extra months pay from the end of the season ?
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tans
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« Reply #1796 on: Thursday, May 26, 2022, 17:35:10 »

Accounts have been released https://find-and-update.company-information.service.gov.uk/company/00053100/filing-history?fbclid=IwAR128aFX-fU3gwUQ_eBaAEUuoKqyI93dRFljMTTnLKx8vLq-UiaAD2WS0TQ
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Bob's Orange
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« Reply #1797 on: Thursday, May 26, 2022, 17:57:05 »

Quite a few 'adjustments' there. Lethal Lee getting creative with the accounts no doubt!
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« Reply #1798 on: Thursday, May 26, 2022, 20:17:33 »

Anybody going to give a layman's rundown
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Samdy Gray
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« Reply #1799 on: Thursday, May 26, 2022, 20:38:21 »

Stuff wasn't accounted for properly.

£270k of loans were recorded as income and shareholder capital. No doubt these are the other debts that were identified soon after Clem took over.

It means the liabilities on the balance sheet have grown, but the bigger question would be who made the loans and what are the terms.

£365k of costs that have now been restated as not being company deductible is interesting. Suggests that someone might have been using club funds for personal benefit. I wonder who...
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