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Post by paz on Oct 31, 2023 10:04:46 GMT
Fourth, does the decision to dispense with physical programmes so early in the season indicate there are problems? Little bird tells me there were plans for the programs to return over the new few games...
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Post by paz on Oct 31, 2023 10:09:19 GMT
I am no accountant (far from it)
But given there are complications with regards to paying out for a new stand (will we do it if we are 15 points adrift come Feb?, will we have to?)
Also, there is the issue with Kouassi how much we are due there... Perhaps these issues have caused complications?
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Embargo
Oct 31, 2023 10:24:20 GMT
via mobile
paz likes this
Post by Amber Aleman on Oct 31, 2023 10:24:20 GMT
We've known since 2021 that finances are tight in League Two, with income struggling to match expenditure. A statement from the club should clarify the present situation, but would need to be carefully composed, and that may explain why we haven't seen one yet. There may also be behind-the-scene developments that are resolving the problem.
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markf
Top Performer
Posts: 3,310
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Post by markf on Oct 31, 2023 13:16:13 GMT
Bit of a leap to suggest our form was down to not paying the players on time or even at all.
Pretty sure that would have leaked out if it was true.
SUFC has, as far as I have often been told, always prioritised the paying of their football staff and I doubt that has changed.
Not sure this sort of speculation is necessary or warranted based on an unpaid or late payment of a tax bill.
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Post by paz on Oct 31, 2023 14:08:10 GMT
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Post by dundas on Oct 31, 2023 14:39:40 GMT
Third, we brought Dominic Gape in just a week or two ago which it appears would not be permitted now and suggesting that money wasn't all that tight then. In most cases true, but we are such are a small club that we may not have 23 staff EFL regard as professional. We may not field a full bench this Saturday as if (for example) we put an Academy player on the bench, the EFL would then regard them as professional. This does not apply to the Pizza Cup or Surrey Senior Cup.
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Post by davethegrave on Oct 31, 2023 15:30:23 GMT
Not sure how genuine this is. The club always seem to have managed things well financially. And what exactly is the embargo? Signing new players?
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Post by paz on Oct 31, 2023 15:50:00 GMT
Not sure how genuine this is. The club always seem to have managed things well financially. And what exactly is the embargo? Signing new players? To a degree. From what I have gathered, I think we can sign loans (without contributing to wages), and we can sign free transfers, as long as the deal is up till the end of the current season. Given we usually get free transfers and loans anyway, It probably won't affect us a great deal, other than perhaps players not wanting to come.
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Embargo
Oct 31, 2023 18:21:12 GMT
via mobile
Post by sufc18 on Oct 31, 2023 18:21:12 GMT
So I've had a look at the EFL Regulations, specifically 17.3 (as mentioned in the embargo) - the full wording is as follows: In other words, we've defaulted on an owing to HMRC. Fortunately, 17.1 specifically clarifies what causes a Default Event: Not overly clear, but in essence, we've failed to pay one of PAYE and National Insurance Contributions, VAT, Corporation Tax, or some other owing to HMRC. Now, I know some people are suggesting that this is perhaps a HMRC mistake - a reasonable suggestion (after all, who hasn't had a tax rebate or tax bill at the end of the year?). However, 17.8 refers to... Basically, if HMRC screwed up, I imagine the club would be contesting the claim - if this were the case, the embargo wouldn't show, as the EFL wouldn't consider it due to HMRC until the matter was resolved. Which basically means the club seem to have accepted we do owe the money. Needless to say, I'm very concerned. We've always prided ourselves on financial stability and sustainability, so to be hit with a Registration Embargo is worrying. For the club to have not said anything is even more worrying, as again, we've always been great at transparency. I hope we hear from the club, very soon. I’ve read that as being the embargo is put in place regardless of being contested until it is proved HMRC are wrong - basically guilty until we prove ourselves innocent.
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Post by os on Oct 31, 2023 19:37:56 GMT
Speculation is never good, if our club still holds true to its age old priniciples I would expect a statement from them to clarify the situation sooner rather than later.
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Post by davethegrave on Oct 31, 2023 19:47:47 GMT
Sheffield Wednesday's owner has asked their supporters to help bale them out for a similar charge.
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Post by paz on Oct 31, 2023 20:08:23 GMT
Speculation is never good, if our club still holds true to its age old priniciples I would expect a statement from them to clarify the situation sooner rather than later. The longer the silence the louder the silence... not got a good feeling about this.
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Post by wisemensay on Oct 31, 2023 22:11:56 GMT
Speculation is never good, if our club still holds true to its age old priniciples I would expect a statement from them to clarify the situation sooner rather than later. The longer the silence the louder the silence... not got a good feeling about this. Unfortunately, I'd have to agree with you - if this only a small thing, say, a clerical error or a paperwork filing where someone ticked the wrong box, small stuff like that, it would be very easy for the club to come out and say "minor clerical error, it's already been resolved and the EFL website will update next week."
Either way, the deafening silence worries me - it doesn't matter how bad it is, just tell us.
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kpinwp
1st team Player
Posts: 1,245
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Post by kpinwp on Oct 31, 2023 22:22:19 GMT
Er, fans to Club; make a statement?
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Post by brian54 on Nov 1, 2023 10:01:14 GMT
Any good news today?
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