Embargo for Sheffield Wednesday

[Brussels Bureaucrat]

I wonder if Rohl the new manager knew this was coming when he joined. What a mess for your first gig as head coach.

 

[Quinny]

I think this is a bluff and a go at the fans. £2million small change to a man who's family is hugely wealthy. Nevertheless not a healthy club.

I don't think it's as isn't as easy as tapping into his family's wealth. Yes, Chansiri is one of the sons of one of the two founding brothers of Thai Union Frozen, but one of the sons (Narin Niruttinanon) of one of the other founding brothers (yeah, I know, Chansiri's cousin) has a 50% stake in Reading FC. TUF have given "assurances" to the EFL that both clubs are totally independent of each other, and that TUF have no influence on either club, corporate or financial. And Reading, as we all know, is as much of a basket-case of a club as Wednesday is (I guess their respective father's business acumen didn't filter down to either of them).

Chansiri is probably rich on paper, but not necessarily cash rich: at least not have enough access to ready cash in his savings account to run a football club on a monthly basis. From the day he bought the club he would have been borrowing against his shares and running all kind of schemes to try and fund the club (there were eyebrows raised when, a little after he bought Wednesday, he got sponsorship from businesses he owned which were no longer active, for instance), and I think this is probably the root of the problem: his creditors have lost their patience and his line of credit is drying up (Chansiri said that there were 'cash-flow' issues). Scrolling through articles on the interwebthingy, it looked like there were 'hopes' that Chansiri would take Wednesday back to the Premier League, but 8 years on, they're bouncing between the Championship and League One, been on the receiving end of a penalty for breaching the financial rules, and losing money hand-over-fist. His creditors have had enough.

 

[Voice of Reason]

Dreadfully sad for employees and fans alike.
However, having passed the "fit and proper" test or whatever the FA call it top allow owners to take a club on (when you think they approved Oyston anything is possible) - the football authorities cant really go after the individual, they have to go after the club. Ultimately SWFC owe the tax man, not the individual - therefore there is a chain of events to go through. HMRC and the FA have to take the club to task.
I dont think anyone wants to see this historic and decent club disappear, but they should be punished for financial mismanagement, if that benefits Argyle all the better. They had a financial advantage over us last year, that they didn't exploit, and it seems couldn't actually afford. Clubs paying wages beyond their means is what we are fighting against (almost weekly in the Championship) - we are suffering because others are more desperate for the promised land than us, so when these clubs go too far and defraud HMRC, its difficult not to think good riddance.
Football ownership in this country has become a complete mess and shambles, far too broken to be fixed by the spineless goons we have in authority now thats for certain.

 

[pafcprogs]

The real worry for Wednesday is if it came to it who would put them in administration? HMRC as the floating charge holder won't and Chansiri appears too much of a narcissist to give up control voluntarily.

It has been a while since I looked in detail at Wednesday finances but I think I am broadly right in thinking the ground is security for a third party loan which has an interest rate that has to be serviced....

It is hard to tell if this is just an owner who has had enough of the fans lack of gratitude ( for what exactly other than the financial mess that effectively got them relegated.

I am reminded of the former Luton chairman David Kohler who said to me once, there are two good days owning a club...the day you buy and the day you sell.

Interesting another of the family is heavily involved at Reading.

I have done my bit, we are no longer allowed to buy his tuna!

 

[mutley marvel]

Now ironic would it be for Reading & Sheffield Weds to both go into administration this season
If that does happen how thorough & how diligent are the EFL

 

[babbelquack]

I think this is a bluff and a go at the fans. £2million small change to a man who's family is hugely wealthy. Nevertheless not a healthy club.

Think you might be right, HMRC now paid

Dejphon Chansiri club statement

Further to my interview in the media earlier this week, I would like to take this opportunity to expand on some of the detail and also provide an update to the situation. I can confirm that all our players and staff have been paid their salaries in full.

www.swfc.co.uk

The man is barking, he's entering Ron Martin (Southend United) territory now of enjoying brinkmanship

 

[IJN]

That absolute loon needs getting out.

I'd like to think us Argyle fans wouldn't stand for that crap and it's probably fair to say that the Wendies are fervent enough to do something about it.

He needs serious pressure put on him to leave a very decent club.

Let's put it this way, if that was happening at HP I would very much be involved shenanigans. In fact, I'd want to be knee deep in them.

No one is bigger than the club.