Ron Springett In The Net - Sheffield Wednesday

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Tank_Owl

First used 09/08/15
1988 posts

Sheffield Wednesday
#106 06/05/2021 at 21:43

Repeated late payments in a time of no income.

Who would have thought that cash flow would be affected by such issues.....
Reesh1867, 06/05/2021 at 07:27


^^^^^

I just cant believe that some people still don't get what a fvcking shit situation this is for a business like SWFC with no real income other than season ticket from previous seasons and a bit of TV = to two fifths of nothing (because its already spent on player wages or being given back to those season ticket holders that wanted it back). So basically DC is bank rolling the club and players that are turning in limp performances.

What we dont know is what kind of communication is going on inside the club about paying wages, i.e. how much are staff and players being told - I hope they are being told.

As others have said he has described what a shitfest it is at present but how much are the players listening (like some of our so called fans!) 

Post edited on 06/05/2021 at 21:49 by Tank_Owl

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EBRA

First used 07/08/09
1983 posts

#107 06/05/2021 at 23:56

When?
Baresi, 06/05/2021 at 16:31


In an interview he said I can’t guarantee I won’t happen again!

“ He said, "In the COVID situation we don’t have any revenue, and at the beginning we thought it’d be just a few months - now it’s nearly a year.

“Business all over the world has collapsed, and we got hit also because of the cashflow. We don’t keep cash on hand too much.

The players have now all been paid… I can’t guarantee the future in this situation, because we don’t have revenue.

“In a normal situation we wouldn’t have any issues. In six years it’s never happened. But whoever needs to get money, they’ll get at the end anyway. But we’re not getting any help, not from the EFL or government.”  

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mkowl

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First used 10/08/09
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Sheffield Wednesday
#108 07/05/2021 at 06:33

Whilst I acknowledge that cashflow is undoubtedly difficult, wasn't that a rod for his own back that the financial mismanagement of the Club created in the first place.

I have little empathy with any business person that simply threw money at it, wasted shedloads on players, wages, agents fees, destroyed the commercial relationships with local business, had hare brained pricing strategies that all but killed the POTG crowd.

Ok Covid could not be envisaged, but the business was totally out of kilter revenue to cost wise.

I doubt the cash was always there, nonsense like 5 year season tickets, lifelong season tickets, Club 1867 etc etc all smacked of raiding future revenues to get cash today. That stadium and training ground investment which falls outside of FFP not really done

Happy clapping for 4 years more than Emre 

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AndyBen

First used 07/08/09
13852 posts

Sheffield Wednesday
#109 07/05/2021 at 06:35

But he did spend on the stadium, including a £1m pitch.  

I'm getting the word.... 

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MPB

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First used 21/07/15
8199 posts

#110 07/05/2021 at 07:58

The vendetta is well and truly ingrained in some fans AB....

Some folk won't get on a boat in case it drops off the edge of the earth... 

PARRY CAN GO F@#* HIMSELF!! 

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mkowl

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First used 10/08/09
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Sheffield Wednesday
#111 07/05/2021 at 08:37

But he did spend on the stadium, including a £1m pitch.
Andyben, 07/05/2021 at 06:35


Which needed ongoing investment to maintain  

Happy clapping for 4 years more than Emre 

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mkowl

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First used 10/08/09
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Sheffield Wednesday
#112 07/05/2021 at 08:43

The vendetta is well and truly ingrained in some fans AB....

Some folk won't get on a boat in case it drops off the edge of the earth...
MPB, 07/05/2021 at 07:58


Not a vendetta - I consider my criticisms of his actions are well reasoned and significant in our demise

But I support Sheffield Wednesday - not the ultimate owner of the shares in the company that currently owns the golden share with the EFL

So if that person has royally fucked up I am not going to defend him  

Happy clapping for 4 years more than Emre 

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KingMong

First used 03/03/14
2651 posts

#113 07/05/2021 at 12:04

The simple fact is that the only way this gets any better is that the owner either learns, or steps aside and let’s someone else have a go.

I accept that COVID has had a role to play in this, but I only read about us and Derby having cash flow issues publically. If other teams are struggling to pay wages, we are not hearing about it, if other teams are asking for players to defer wages, again, we aren’t hearing about it.

I don’t have time for the owner because this horrific decline has happened on his watch. We can’t blame CEO’s, CFO’s etc for our financial issues. It’s all him. We are on the brink of the 3rd division, with a failing academy, a squad of 12 senior pros, a training ground that is in a mess, the commercial side failing and a stadium that needs an overhaul. All him.

The on field mess, we’ve had a series poor managers. Who he hired. Yep, can’t blame him for the players failing, but then, we haven’t been recycling the squad, and when your main advisor is an agent, then we have problems.

I have a massive amount of admiration for him personally plugging the holes with money. But that’s not sustainable, hence the learn or go statement. He’s got to make the club stand on its own feet, generate its own revenue, create a commercial footprint.

What we are ultimately paying for is financial mismanagement in those first two years and him not really understanding FFP, and then realising too late and trying to bandaid it, and screwing it up. Exactly the same thing that Derby have done... ironically, both can be condemned by Rotherham who are run financially prudently. 

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mkowl

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First used 10/08/09
24281 posts

Sheffield Wednesday
#114 07/05/2021 at 12:26

The simple fact is that the only way this gets any better is that the owner either learns, or steps aside and let’s someone else have a go.

I accept that COVID has had a role to play in this, but I only read about us and Derby having cash flow issues publically. If other teams are struggling to pay wages, we are not hearing about it, if other teams are asking for players to defer wages, again, we aren’t hearing about it.

I don’t have time for the owner because this horrific decline has happened on his watch. We can’t blame CEO’s, CFO’s etc for our financial issues. It’s all him. We are on the brink of the 3rd division, with a failing academy, a squad of 12 senior pros, a training ground that is in a mess, the commercial side failing and a stadium that needs an overhaul. All him.

The on field mess, we’ve had a series poor managers. Who he hired. Yep, can’t blame him for the players failing, but then, we haven’t been recycling the squad, and when your main advisor is an agent, then we have problems.

I have a massive amount of admiration for him personally plugging the holes with money. But that’s not sustainable, hence the learn or go statement. He’s got to make the club stand on its own feet, generate its own revenue, create a commercial footprint.

What we are ultimately paying for is financial mismanagement in those first two years and him not really understanding FFP, and then realising too late and trying to bandaid it, and screwing it up. Exactly the same thing that Derby have done... ironically, both can be condemned by Rotherham who are run financially prudently.
KingMong, 07/05/2021 at 12:04


Great post

The only question is did he understand FFP and simply ignore it

The fact the EFL gave us a get out of jail card, almost spoon fed the solution and then they came up with a contract basically written in crayon was beyond anything. For the weekly wage of Westwood lawyers / accountants could have been hired to get this sorted. I find it incredulous this was not done  

Happy clapping for 4 years more than Emre 

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AndyBen

First used 07/08/09
13852 posts

Sheffield Wednesday
#115 07/05/2021 at 12:28



Which needed ongoing investment to maintain
mkowl, 07/05/2021 at 08:37


yes, and do you think that when faced with such a huge, massive drop in income this may have been one of the factors deemed not quites as important as, say, paying >salaries 

I'm getting the word.... 

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MPB

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First used 21/07/15
8199 posts

#116 07/05/2021 at 14:01

All this step aside business.....really?

If I'd pumped millions into a club and kept it afloat through a pandemic....but still got abuse from precious little snivelling twats.......I'd do a Mike fuckin Ashley......you ungrateful c**ts... 

Post edited on 07/05/2021 at 14:03 by MPB

PARRY CAN GO F@#* HIMSELF!! 

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mkowl

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First used 10/08/09
24281 posts

Sheffield Wednesday
#117 07/05/2021 at 14:02

Depends whether the required investment was in the last 12 months or before

But if there was a much more sensible Wages to Turnover %

Or if there was external sponsorship as opposed to shell companies - then there would be less of a squeeze in the first place and not solely reliant on DC  

Happy clapping for 4 years more than Emre 

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KingMong

First used 03/03/14
2651 posts

#118 07/05/2021 at 14:29

All this step aside business.....really?

If I'd pumped millions into a club and kept it afloat through a pandemic....but still got abuse from precious little snivelling twats.......I'd do a Mike fuckin Ashley......you ungrateful c**ts...
MPB, 07/05/2021 at 14:01


The issue is, the pandemic situation has been amplified by what he did and didn’t do before the pandemic. I have a massive amount of admiration for him for running it out of his own pocket, in actual fact, since he came in. Because our costs were almost double our turnover (hence us failing FFP horrifically) even from the 17/18 season.

But the fact is he can’t do that even short term. As AndyBen has said, it’s not easy to get money out of Thailand, and he could be easily pumping 2 million a month if the players haven’t deferred. Even if the fixed salary per week is 8k per player, it’s still 750k a month he’s got to find.

Now, he might put some cost control in place, which will mean he has learned. He might set a salary cap for next season and say our revenue is X and our costs can be a maximum of Y. He might look to try and improve us commercially. But, he only does this if he thinks he has failed, and he has some mistakes to learn from. We carry like we are, things will get much much worse. 

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bartos1976

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First used 19/02/12
10468 posts

#119 07/05/2021 at 14:55

All this step aside business.....really?

If I'd pumped millions into a club and kept it afloat through a pandemic....but still got abuse from precious little snivelling twats.......I'd do a Mike fuckin Ashley......you ungrateful c**ts...
MPB, 07/05/2021 at 14:01


Where is the abuse? MK & KM have submitted very reasoned arguments criticising, neither have been abusive and for me they both make fair points

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AndyBen

First used 07/08/09
13852 posts

Sheffield Wednesday
#120 07/05/2021 at 15:04

If the shell companies pay more than we were offered how is that a problem 

I'm getting the word.... 

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