Sheffield Wednesday facing administration
- Thread starter sten_super
- Start date
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beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,015
ok, but on the other hand Knight could have borrowed and spent, not paid the tax man to keep us up in the Championship a few years ago, then taken the administration hit and started all over again.
he didnt, while we see other clubs that have done, so the symapthy drains away. Wednesday must have known over the summer they would be facing a shortfall due to relegation, but still brought in expensive players before paying the tax bill.
Hotchilidog
Well-known member
- Jan 24, 2009
- 9,120
The difference being that our losses were being born by the directors of the club, not unpaid creditors including the taxman. At least that is my understanding of the matter, I stand to be corrected if that is not the case.
Dave the OAP
Well-known member
well obviously they were/are. They were probably relying on the directors to fund these things.
In our dark days when we had to sell Beeney or we were history, the club were still buying and selling players and were relying on the loans of the likes of Archer/ Stanley etc. That is how a football club works. We are even now relying on the goodwill of a director to build and finance the club, as Tooting says, if he hadn't come along I very much doubt if we would be here now.
Brighton_Barca
Bus stop wanker
No one is saying they hope they go bust. But if you don't run your football club properly then you can't expect people to feel sorry when it goes tits up.
Not at all, totally different scenario. We were being raped by our board but Wednesday's board seem to be throwing money around to secure some quality players while neglecting bills other clubs treat as a priority. Surely by not signing these players they would have avoided signing on fees, wages for 2 months of the season and wages for the remainder of the season. A substantial chunk of the 1 million could have been saved right there.
It sounds to me like they are pretty screwed and without shareholder investment or substantial player sales they will go into admin at some point this season.
I guess the real question is will signing the likes of Morrison, Mellor, Weaver etc offer enough of an advantage to take the potential hit of a 10 point deduction?
If a club goes into administration they should forfiet any rights to promotion IMO.
Brighton_Barca
Bus stop wanker
Cardiff are another example, owed £175k for over a year yet went out and got Bellamy on £45k a week wages. Something should be done to stop clubs spending more on players if they owe money elsewhere.
Dave the OAP
Well-known member
the problem is how do you know they were not running it properly? Most football clubs ( if not all) run on debt and the promise of cash injection by the directors - as do we. Now there could be a reason why wednesday can't pay the tax man....maybe one of teh directors who promised the funds suddenly found his business went bust for example....there are a miriad of reasons why this could have happened.
Scenario:
Tonight Bloom turns over the wrong card that costs him £100million and bankrupts him. The club do not have the money to pay for the stadium and bills are due. the contractor goes to court and we are wound up. Will you expect other clubs fans to feel sorry for us when it all goes tits up? Was it our fault that we spent money on transfers/ wages etc. Of course not, we did it becuae the directors of teh club told us that they will support the club financially.
Reading Seagull
New member
No one wants to see another club go into administration (hopefully) but it has to be said they continued to bring high profile players that are no doubt demanding high wages.
They knew they had the bill to pay....maybe they thought the signings would get them promoted despite the 10 points deduction - that way they get out of the league, take all the cash to go with promotion and have a decent squad going into the championship
Very risky business and I feel for the fans if it doesnt work.
They knew they had the bill to pay....maybe they thought the signings would get them promoted despite the 10 points deduction - that way they get out of the league, take all the cash to go with promotion and have a decent squad going into the championship
Very risky business and I feel for the fans if it doesnt work.
Well, it's like this...
What if you, chappers, were in the middle of a debate with a tyrannosaurus and the only way you could avoid being eaten was by winning the argument. Wouldn't you try some ridiculous scenario to confuse his small brain and thus provide yourself an escape route?
Dave the OAP
Well-known member
boredom
bhaexpress
New member
At the end of the day there's a big difference between being ripped off by your board and spending money you don't have in the hope that you'll prosper.
Having said that how do you think we got into the mess that brought us Archer and Belloti ?
Having said that how do you think we got into the mess that brought us Archer and Belloti ?
Brighton_Barca
Bus stop wanker
If you're spending money you don't have then that isn't being run properly. When you know you owe £1+mill and then go out and increase your clubs spending then you're an idiot. Doesn't matter if someone promises you the money or not.
Dave the OAP
Well-known member
on the other hand, do you think our whole existance as a football club is dependant on one man or one family?
