Embargos, HMRC Payment defaults, non payment of wages, the usual under Dai Wrongge

[Orion1871]

Same a previous, just quickly messaged my acquaintance at the club, asked if I needed to be worried, and he said no.
Again take from that what you want.

good. he's been spot on in the past if i remember correctly

Not that you needed him for any info being the number 1 ITK on HNA?.

[Brogue]

Same a previous, just quickly messaged my acquaintance at the club, asked if I needed to be worried, and he said no.
Again take from that what you want.

good. he's been spot on in the past if i remember correctly

Not that you needed him for any info being the number 1 ITK on HNA?.

i like to empower others

[blythspartan]

Is it correct that due to new EFL regulations clubs are not allowed to announce any potential investors until they have been approved by the EFL?

[Lower West]

Same a previous, just quickly messaged my acquaintance at the club, asked if I needed to be worried, and he said no.
Again take from that what you want.

The concern is that Dai is running out of road, Having spent my entire working lifetime in Corporate finance. This has all the hallmarks and indications of a meltdown. That's a commercial dispassionate viewpoint. No point in glossing over how dire matters are. On a personal level I'm praying for a white knight to arrive. Who'll run the club again in a financially sustainable manner and has the decency to respect the club's fans. Not treat us idiots.

[Orion1871]

good. he's been spot on in the past if i remember correctly

Not that you needed him for any info being the number 1 ITK on HNA?.

i like to empower others

You're very giving.

[wally bassoon]

Same a previous, just quickly messaged my acquaintance at the club, asked if I needed to be worried, and he said no.
Again take from that what you want.

The concern is that Dai is running out of road, Having spent my entire working lifetime in Corporate finance. This has all the hallmarks and indications of a meltdown. That's a commercial dispassionate viewpoint. No point in glossing over how dire matters are. On a personal level I'm praying for a white knight to arrive. Who'll run the club again in a financially sustainable manner and has the decency to respect the club's fans. Not treat us idiots.

I think they are just going to pay the bill

[Linden Jones' Tash]

Same a previous, just quickly messaged my acquaintance at the club, asked if I needed to be worried, and he said no.
Again take from that what you want.

The concern is that Dai is running out of road, Having spent my entire working lifetime in Corporate finance. This has all the hallmarks and indications of a meltdown. That's a commercial dispassionate viewpoint. No point in glossing over how dire matters are. On a personal level I'm praying for a white knight to arrive. Who'll run the club again in a financially sustainable manner and has the decency to respect the club's fans. Not treat us idiots.

Could you define what you mean by 'financially sustainable manner'?

The reason I ask, is that EFL football at a Championship level is, by definition unsustainable - and having dropped 66% income because of relegation, I don't see how anyone can square the circle...

It's either a billionaire who gambles or you don't get it to play at all.

[Linden Jones' Tash]

Same a previous, just quickly messaged my acquaintance at the club, asked if I needed to be worried, and he said no.
Again take from that what you want.

The concern is that Dai is running out of road, Having spent my entire working lifetime in Corporate finance. This has all the hallmarks and indications of a meltdown. That's a commercial dispassionate viewpoint. No point in glossing over how dire matters are. On a personal level I'm praying for a white knight to arrive. Who'll run the club again in a financially sustainable manner and has the decency to respect the club's fans. Not treat us idiots.

Could you define what you mean by 'financially sustainable manner'?

The reason I ask, is that EFL football at a Championship level is, by definition unsustainable - and having dropped 66% income because of relegation, I don't see how anyone can square the circle...

It's either a billionaire who gambles or you don't get to play at all.

[Hound]

Same a previous, just quickly messaged my acquaintance at the club, asked if I needed to be worried, and he said no.
Again take from that what you want.

The concern is that Dai is running out of road, Having spent my entire working lifetime in Corporate finance. This has all the hallmarks and indications of a meltdown. That's a commercial dispassionate viewpoint. No point in glossing over how dire matters are. On a personal level I'm praying for a white knight to arrive. Who'll run the club again in a financially sustainable manner and has the decency to respect the club's fans. Not treat us idiots.

I think they are just going to pay the bill

Hopefully soon so they can bring in a few more players before next sat

[Sutekh]

The concern is that Dai is running out of road, Having spent my entire working lifetime in Corporate finance. This has all the hallmarks and indications of a meltdown. That's a commercial dispassionate viewpoint. No point in glossing over how dire matters are. On a personal level I'm praying for a white knight to arrive. Who'll run the club again in a financially sustainable manner and has the decency to respect the club's fans. Not treat us idiots.

I think they are just going to pay the bill

Hopefully soon so they can bring in a few more players before next sat

Whip round on Saturday chaps?

[Snowflake Royal]

Same a previous, just quickly messaged my acquaintance at the club, asked if I needed to be worried, and he said no.
Again take from that what you want.

The concern is that Dai is running out of road, Having spent my entire working lifetime in Corporate finance. This has all the hallmarks and indications of a meltdown. That's a commercial dispassionate viewpoint. No point in glossing over how dire matters are. On a personal level I'm praying for a white knight to arrive. Who'll run the club again in a financially sustainable manner and has the decency to respect the club's fans. Not treat us idiots.

Could you define what you mean by 'financially sustainable manner'?

The reason I ask, is that EFL football at a Championship level is, by definition unsustainable - and having dropped 66% income because of relegation, I don't see how anyone can square the circle...

It's either a billionaire who gambles or you don't get it to play at all.

Well not paying more than 200% of your income in wages, let alone all outgoings, would be a step forward.

With the near total reset we've now had (just Ejaria to go) we should be in a place where we're mostly paying good L1 wages. Matchday revenue should be largely unchanged. We should get pretty decent L1 TV money as a club with one of the better facilities and bigger names plus recent Championship status.

Transfer policy is looking much better. So we should have more players with decent resale value.

So sustainable is running at a small operating loss that can be offset most years with decent transfer incomings, to take us somewhere in the region of +/- £2m - £3m a season.

[Hound]

Which is where you’d hope the academy (continues) to pay its way

Need to be a bit more proactive and sell when there’s the chance and do a lot better at selling at the top of their value

[andrew1957]

This all reminds me of the old saying - how do you become a millionaire? Answer - Be a billionaire and buy a football club.

[Linden Jones' Tash]

The concern is that Dai is running out of road, Having spent my entire working lifetime in Corporate finance. This has all the hallmarks and indications of a meltdown. That's a commercial dispassionate viewpoint. No point in glossing over how dire matters are. On a personal level I'm praying for a white knight to arrive. Who'll run the club again in a financially sustainable manner and has the decency to respect the club's fans. Not treat us idiots.

Could you define what you mean by 'financially sustainable manner'?

The reason I ask, is that EFL football at a Championship level is, by definition unsustainable - and having dropped 66% income because of relegation, I don't see how anyone can square the circle...

It's either a billionaire who gambles or you don't get it to play at all.

Well not paying more than 200% of your income in wages, let alone all outgoings, would be a step forward.

With the near total reset we've now had (just Ejaria to go) we should be in a place where we're mostly paying good L1 wages. Matchday revenue should be largely unchanged. We should get pretty decent L1 TV money as a club with one of the better facilities and bigger names plus recent Championship status.

Transfer policy is looking much better. So we should have more players with decent resale value.

So sustainable is running at a small operating loss that can be offset most years with decent transfer incomings, to take us somewhere in the region of +/- £2m - £3m a season.

Ok, my understanding is that our most recent income in the championship was in the region of £16M.

In L1, I understood relegation to cost in the region of £10M per season ( think it was the Charlton owner who said this).

A £3M loss on revenue of £6-8M is not sustainable...

£5k a week once you add in NI and other costs is nearly £300k a year - if the aim is to have outgoings at 50% of revenue - how can you afford decent players....

I don't think sustainable is an achievable goal tbh.

We need another dreamer with more money than sense...

[Snowflake Royal]

12k x £350 alone is £4.2m
Plus catering, shirts, etc
Plus sponsorship
Plus TV money
Plus corporate hospitality
Plus solidarity payment

And you've picked the maximum loss on my scale as the the regular loss, despite me saying plus or minus, so you'd aim to offset at the max end with a profit in future.

[Linden Jones' Tash]

Oh, I'd love it to be attainable, I just can't see how being competitive and sustainable are compatible given where we are, in real life.

I've renewed my ST and will (try to) enjoy the football, but the rest of it is impossible to process.

Like Mbappe being offered €700M to play in KSA.... Makes no sense

[Stranded]

Is it correct that due to new EFL regulations clubs are not allowed to announce any potential investors until they have been approved by the EFL?

Yes

https://theathletic.com/4685753/2023/07 ... ed-article

[Royal_jimmy]

One for those more in the know that I - if this issue relate to late PAYE for the last month, then how much are we realistically talking here?

Squad wages were down to 16m, so lets say the rest of the wage bill for non-playing staff is another 2m (probably less) - so total wage bill is 18m. If we pay wages equally each month, than the wage bill for June was 1.5m - how much would PAYE be on that amount? 30%, 40%.

So we could be talking an outstanding amount of around 500k?

Our wage bill is expected to fall to £7m this season. So It'll only cost £600k/month to pay the players

[blythspartan]

Is it correct that due to new EFL regulations clubs are not allowed to announce any potential investors until they have been approved by the EFL?

Yes

https://theathletic.com/4685753/2023/07 ... ed-article

Thank you for this. I can’t help thinking that we must have something lined up, but maybe wishful thinking.

[SouthDownsRoyal]

Sadly It’s a bit like someone who needs a payday loan to get by.

It’s not like you do it once and life is fine thereafter, if you needed a payday loan once you’re in dire straights unless something changes dramatically.

And nothing realistically will change dramatically without a new owner so I can see us limping from embargo to embargo and missing payments to HMRC/staff (delete as applicable) again.

But I’m not Jimmy so I have to hope we will find that new owner, injection of cash or a miracle and we storm L1 and move onto better days ahead.