Ron Springett In The Net - Sheffield Wednesday

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Andyben

First used 07/08/09
11236 posts

Sheffield Wednesday
#31 14/11/2019 at 19:47

Maguire knows the square route of fuck all.

Did he expect a cheque paid for the whole amount?


Greno is spot on about novation.

Also no requirement to complete and register at Land Registry within a certain date. Allows for deferral of any stamp duty.

EFL will lose.


But they'll make sure we do too 

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P_O_T_R

First used 06/08/15
3567 posts

#32 14/11/2019 at 19:47

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Greno

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First used 29/04/10
13301 posts

Sheffield Wednesday
#33 14/11/2019 at 19:50



I assume when Maguire bought his house he paid for it on the spot.....?
Reesh1867, 14/11/2019 at 19:46


Of course he did Bigsmile

This is the last time I'm painting on a grin. 

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mkowl

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First used 10/08/09
22676 posts

Sheffield Wednesday
#34 14/11/2019 at 19:51



The date of the contact is the date of the sale.

People are jumping on the fact that the DC company that ultimately completed the sale was formed after the end of that particular accounting period. If DC personally agreed the purchase before the accounting year end it doesn't matter which entity he's created completed it. It's called novation.
Greno, 14/11/2019 at 19:22


I have to say Greno whilst reporting the substance of a transaction over legal form is the basis of accounting, the sale of a property is one you would want legal title proof of for occurrence.

The extension of the year end AND then late filing AND then this sale and lease back transaction makes this a tad eyebrow raising as much as I want to back Wednesday on this

Bottom line is only a few folk are party to the evidence on this and without that evidence it is pure speculation by all of us 

Happy clapping for 4 years more than Emre 

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mkowl

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First used 10/08/09
22676 posts

Sheffield Wednesday
#35 14/11/2019 at 19:53



I assume when Maguire bought his house he paid for it on the spot.....?
Reesh1867, 14/11/2019 at 19:46


If he did that in a Uni lecturer salary he must have inherited well 

Happy clapping for 4 years more than Emre 

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Reesh1867

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First used 05/08/09

Sheffield Wednesday
#36 14/11/2019 at 19:54

Can I just add


FUCK THE EFL 

Consilio et Animis 

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mkowl

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First used 10/08/09
22676 posts

Sheffield Wednesday
#37 14/11/2019 at 20:00

Maguire knows the square route of fuck all.

Did he expect a cheque paid for the whole amount?


Greno is spot on about novation.

Also no requirement to complete and register at Land Registry within a certain date. Allows for deferral of any stamp duty.

EFL will lose.


But they'll make sure we do too
Andyben, 14/11/2019 at 19:47


Groups do it all the time, they will transfer assets between companies and leave it standing on inter co loan account.

If he'd wanted DC could have loaned money to Sheffield 3, it could have paid for the stadium to SWFC, then Swfc could repay DC.  

Happy clapping for 4 years more than Emre 

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mkowl

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First used 10/08/09
22676 posts

Sheffield Wednesday
#38 14/11/2019 at 20:00

Steve Gibson on hearing the newsWanker

Happy clapping for 4 years more than Emre 

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Reesh1867

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First used 05/08/09

Sheffield Wednesday
#39 14/11/2019 at 20:06

Gibson is a hypocritical pube headed tramp  

Consilio et Animis 

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Andyben

First used 07/08/09
11236 posts

Sheffield Wednesday
#40 14/11/2019 at 20:15

Some proper shithousing going on by our 'fans' on Twitter  

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Greno

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First used 29/04/10
13301 posts

Sheffield Wednesday
#41 14/11/2019 at 20:22



I have to say Greno whilst reporting the substance of a transaction over legal form is the basis of accounting, the sale of a property is one you would want legal title proof of for occurrence.

The extension of the year end AND then late filing AND then this sale and lease back transaction makes this a tad eyebrow raising as much as I want to back Wednesday on this

Bottom line is only a few folk are party to the evidence on this and without that evidence it is pure speculation by all of us
mkowl, 14/11/2019 at 19:51


I agree totally.

The accountants and the auditors would have been privy to the evidence you would hope. If not the EFL charge would be the thin end of a very shitty stick. 

This is the last time I'm painting on a grin. 

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DPCSF

First used 31/05/11
13106 posts

Sheffield Wednesday
#42 14/11/2019 at 20:28

Any ideas on timescale as to how this will play out?
pollhammer3, 14/11/2019 at 19:16


April/ May 2020, will depend on how many points we need for promotion. 

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Andyben

First used 07/08/09
11236 posts

Sheffield Wednesday
#43 14/11/2019 at 20:28

There was speculation that the accounts were held back pending approval of the ground sale. Whether by the Auditors or the EFL.

I've seen nothing since then to dissuade me otherwise 

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Greno

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First used 29/04/10
13301 posts

Sheffield Wednesday
#44 14/11/2019 at 20:34

There was speculation that the accounts were held back pending approval of the ground sale. Whether by the Auditors or the EFL.

I've seen nothing since then to dissuade me otherwise
Andyben, 14/11/2019 at 20:28


If (big if) that speculation is true then EFL haven't got a leg to stand on.

They either have to admit they made a huge mistake or question the integrity of the auditors (dangerous ground). 

This is the last time I'm painting on a grin. 

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Beaconowl

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First used 07/08/09
8343 posts

#45 14/11/2019 at 20:37

Which Auditors do we use? I presume it is not a tin pot outfit? 

Its now or never 

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