New embargo incoming

[Elm Park Kid]

You'll know far more than me on this so I'll ask you.

The owner is an extremely rich man, he can easily pay off any loan fees, wages, tax bill etc. Is he prohibited from doing so by the EFL rules or can he just not be arsed? I know that may be a silly question but I try to avoid all financial matters in football if I can.

There are a number of potential reasons:
1. This could just be pure incompetence and the tax bill hasn't been paid due to administrative oversights.
2. The owner might be facing difficulties in accessing/transferring capital from China. Either due to government/legal interference or decisions that he has taken which has 'tied up' his wealth.
3. The owner might simply have decided for whatever reason to stop funding the club. Maybe he's had enough - maybe he has other priorities.

This has nothing to do with EFL restrictions.

If it's 3 what happens next?

The owner can choose to put the club into administration, at which point independent administrators takeover and will look to sell the club to new owners in order to pay off taxes and other outstanding debts. This is what happened with Derby, and it requires new owners paying enough to satisfy whatever HMRC demand to clear the tax bill AND our obligations to pay a certain percentage of our footballing debts (I forget the figure). All non-footballing debts (including what the owner has lent us) would be wiped away. We'd have to accept a 12 point deduction for next season (along with whatever else the EFL are going to give us).

If the owners don't don't that then i'm not 100% sure. I think that HMRC can just wind up the club and assets sold to pay out the tax bill/debts.

[Stranded]

"Non-Payment of PAYE Owed to HMRC" has now been added to our list of Transfer Embargo reasons.

You said yourself in your latest post that this issue is nothing to do with the EFL so why would it impact the embargo process?

I meant that the EFL restrictions wouldn't stop us from paying our tax bill. But non-payment of taxes is obviously an offense under EFL regulations:

16.14 Each Club must by 7 April in each Season provide evidence to The League to confirm that, subject to Regulation 16.15.2:

16.14.1 it has satisfied all Transfer Fee, Compensation Fee, Loan Fee or subsequent payments which had by the 31 December (Relevant Date) become due under the terms of any transfer; and

16.14.2 it had as at the Relevant Date paid all sums due and payable to or in respect of an employee employed during the relevant calendar year (including national insurance contributions and income tax deducted under the ‘pay as you earn’ system).

https://www.efl.com/-more/governance/ef ... n-4-clubs/

So by that it could be that the EFL aren't satisfied with documentation rather than HMRC not getting paid.

It won't be though and this summer gets worse.

[Elm Park Kid]

You said yourself in your latest post that this issue is nothing to do with the EFL so why would it impact the embargo process?

I meant that the EFL restrictions wouldn't stop us from paying our tax bill. But non-payment of taxes is obviously an offense under EFL regulations:

16.14 Each Club must by 7 April in each Season provide evidence to The League to confirm that, subject to Regulation 16.15.2:

16.14.1 it has satisfied all Transfer Fee, Compensation Fee, Loan Fee or subsequent payments which had by the 31 December (Relevant Date) become due under the terms of any transfer; and

16.14.2 it had as at the Relevant Date paid all sums due and payable to or in respect of an employee employed during the relevant calendar year (including national insurance contributions and income tax deducted under the ‘pay as you earn’ system).

https://www.efl.com/-more/governance/ef ... n-4-clubs/

So by that it could be that the EFL aren't satisfied with documentation rather than HMRC not getting paid.

It won't be though and this summer gets worse.

I . . . . would suggest that it isn't a documentation problem . . . without going any further (sorry).

[Ascotexgunner]

My understanding is he just walked out of the other 2 clubs and left them to fester into non existence.
Doesn't look good does it.

[Notts Royal]

Who still has faith in Dai Yongge then?

[leon]

So which smart cnut wants to make “bedwetting” comments now???

Anyone?

[tidus_mi2]

So which smart cnut wants to make “bedwetting” comments now???

Anyone?

STFU, gloating because you were supposedly right about our club being in the shit.

oxf*rd Christ.

[Brogue]

So which smart cnut wants to make “bedwetting” comments now???

Anyone?

STFU, gloating because you were supposedly right about our club being in the shit.

oxf*rd Christ.

Oof. Leon are you going to take that.

[Orion1871]

So which smart cnut wants to make “bedwetting” comments now???

Anyone?

STFU, gloating because you were supposedly right about our club being in the shit.

oxf*rd Christ.

Oof. Leon are you going to take that.

Yasss, Slay Kween.

[katweslowski]

Wasn't there £6m put into the club this week or last week? I recall seeing something, possible from companies house. What was that about?

I think Dai Yongge has just walked away or at least lost interest.

The club are silent, still nothing from Bowen or any meaningful statement as far as I know

Will the club even be allowed to start the season if we're in this much trouble or can the EFL say we're not eligible or somethin?

[Lower West]

The owner is an extremely rich man, he can easily pay off any loan fees, wages, tax bill etc.

Have you asked him? Been plenty of information in the public domain for months that suggests there's serious financial challenges for our owner.

[Orion1871]

The owner is an extremely rich man, he can easily pay off any loan fees, wages, tax bill etc.

Have you asked him? Been plenty of information in the public domain for months that suggests there's serious financial challenges for our owner.

Is there? I can well believe it, but you keep alluding to things about him, but you never actually outright say anything or produce any concrete evidence to back up any claims.

[Royal_jimmy]

There are a number of potential reasons:
1. This could just be pure incompetence and the tax bill hasn't been paid due to administrative oversights.
2. The owner might be facing difficulties in accessing/transferring capital from China. Either due to government/legal interference or decisions that he has taken which has 'tied up' his wealth.
3. The owner might simply have decided for whatever reason to stop funding the club. Maybe he's had enough - maybe he has other priorities.

This has nothing to do with EFL restrictions.

If it's 3 what happens next?

We send Royal Jimmy over to China to take a shit through Dai's letterbox.

With pleasure

[Royal_jimmy]

It's been pretty obvious for the least 18 months to 2 years that all of this would happen. I don't think any of the radical ideas on Twitter are irrational given the situation, other clubs fans would be protesting big time.

[leon]

So which smart cnut wants to make “bedwetting” comments now???

Anyone?

STFU, gloating because you were supposedly right about our club being in the shit.

oxf*rd Christ.

I’m pointing out that there’s been plenty of twats on here taking the piss out of people with genuine concerns.

Well here we fcuking are.

Edit: and I wasn’t one of those people

[leon]

So which smart cnut wants to make “bedwetting” comments now???

Anyone?

STFU, gloating because you were supposedly right about our club being in the shit.

oxf*rd Christ.

Oof. Leon are you going to take that.

He’s just pissing his pants. He’ll be finished soon.

[tmesis]

I think Dai Yongge has just walked away or at least lost interest.

The club are silent, still nothing from Bowen or any meaningful statement as far as I know

Wasn't there a statement (however truthful it may or may not be) that Dai remains committed not so long ago?

If he is committed still, then obviously he'd say nothing, as he probably has no idea these conversations even exist. It's not being discussed in the media anywhere.

If he's not committed, then the same complete absence of media interest will see him feel under no pressure to make any kind of statement.

[blueroyals]

If he was committed to the club he'd make sure the bills are paid on time. Simple as

[paultheroyal]

In lighter news - Paul Ince is now bookies favourite for the Sheffield Wednesday job. Thought you all needed cheering up!

[CountryRoyal]

In lighter news - Paul Ince is now bookies favourite for the Sheffield Wednesday job. Thought you all needed cheering up!

Baffling.