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Sheff Wed - financial issues


Seeing that the club and ground are two different things is it possible for a developer to buy the ground, raze Hillsboro, and build commercially?
Also is it possibly the could be the way of Bury FC?
 
In order to determine whether or not a Person is eligible to act as a Director, the League needs to identify if the Person is subject to a Disqualifying Event. If the League considers that a Person is subject to a Disqualifying Event, then it confirms as such to the Club and the Person, and the Person will not be permitted to take up the role. Disqualifying Events include (but are not limited to) the following:

  • They have an “interest” in more than one Club.
  • They are banned by a sport’s governing body (worldwide).
  • They are found to have committed a breach of the prohibition on betting on football in England and Wales.
  • They have unspent convictions for offences of dishonesty, corruption, perverting the course of justice, serious breaches of the Companies Act or conspiracy to commit any of those offences.
  • They have unspent conviction for any offence that resulted in a sentence of imprisonment of 12 months or more.
  • They are struck off by a professional governing body e.g. the Law Society.
  • They are being a registered sex offender.
  • They have been convicted of a Hate Crime, which is defined as an offence that is considered to be aggravated in accordance with the Crime and Disorder Act 1998 and the Sentencing Act 2020.
  • They are being subject to an Individual Voluntary Arrangement or Bankrupt.
  • They have been convicted for fraud of any kind.
  • They have been a director of a football club which has suffered two insolvency events past June 2004 or separate football clubs which have each suffered an insolvency event past June 2004.
  • They are disqualified under the Company Directors Disqualification Action 1986 (or having given an equivalent undertaking).
In addition to the above Disqualifying Events, EFL Clubs also agreed on 8 June 2023 to include some further Disqualifying Events in order to strengthen the OADT. These new Disqualifying Events include (but are not limited to) the following:

  • They have been removed as a trustee of a pension scheme by the Pensions’ Regulator or the Courts.
  • They have been expelled from sporting clubs in other sports (eg Rugby) as the League does for other Clubs.
  • They represent a state entity from countries which are sanctioned or are subject to sanctions themselves.
  • They have been convicted of a violent offence, irrespective of whether it resulted in an unsuspended sentence of at least 12 months’ imprisonment.
  • They are having second (or further) bankruptcies/convictions/bans, even if expired or spent.
  • They have been a director of a company (excluding football clubs) which has suffered two insolvency events, or separate companies which have each suffered an insolvency event.
The disqualifying events also extend to equivalent situations in foreign countries.
 
Zweiguys said:
Seeing that the club and ground are two different things is it possible for a developer to buy the ground, raze Hillsboro, and build commercially?
Also is it possibly the could be the way of Bury FC?
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If they have another chancer/wanker trying to buy the club as Bury did then yes but I can’t see that happening again. The adminsinstrators and HMRC will want assurances
 
Swindon On Tour said:
You are.
Sheffield Wednesday have had a short sharp shock and will never die. Just a case of bottoming out in a relatively short time and they will go again.
Ours is like a slow death with plenty of chances to get better, but it won’t until they have all gone. These are like blood sucking parasites that are holding us back.

Sheffield Wednesday is a fantastic club with an excellent fanbase. That alone will keep them alive.
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As a fan, it's pretty much a lottery who owns your beloved club and therefore who pulls the strings.

Sheff Wed is a proper football club that shouldn't be in this position. Every one of us on here could easily be feeling the same heartache through no fault of our own.

It looked like they were going to struggle to stay up this season anyway, so maybe taking the points hit now means they can start the arduous process of restructuring and rebuilding earlier sooner. Not much of a silver lining at all, but they will be back amongst it eventually.
 
Horley Chorley said:
Isn't there supposed to be rigourous checks in place, to ensure anyone with ambitions of running a football club, can prove to be a fit & proper owner ?
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The O&D test takes place when an owner arrives. The check is primarily on a limited range of financial offences and/or involvements in insolvencies. Chansiri passed that test when he bought Wednesday. To date, there's been little or nothing the PL or EFL can do if an owner "goes rogue" years down the line. We'll need to see exactly what powers the Football Regulator will have, but it's meant to impose penalties up to forced divestment at any time in an owner's tenure.
 
Father Jack Hackett said:
I remember Portsmouth going into administration for the second time and a local joiner not being paid and others saying they were having to lay people off. Properly shit carry-on from wankers whose ego leads them to own institutions such as Sheff Wed and Pompey and bollocks to everyone else.
The fit and proper persons test was shown for what it was when Donald said that he found the funds “down the back of the sofa”.
If not for Sartori, we could have been another statistic.
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Well said.
The 'fit and proper' test is a joke; just look at some of the stupid, conniving bassas that have bought football clubs and ruined them. Or even knocked them out of existence, like Darlo and Bury, although the phoenix may arise eventually.
You mention Sartori, who was the saviour of the Barrow Boys bid and he bankrolled the club for years while they were selling our best Academy Lads, scrapping the Lasses and not having dosh to repair the lifts. He also brought Kyril to the club; gave him effective control by abstaining while he was campaigning to be President back home ( even though KLD didn't have a majority share); and presumably put his hand in his pocket again to finance the Prem bid and subsequent summer buying spree. People who say he is 'One Pound Juan' who only turns up for big games do him a disservice.
I hope the Owls can find someone half as good to dig them out of this hole.
 
Zweiguys said:
Seeing that the club and ground are two different things is it possible for a developer to buy the ground, raze Hillsboro, and build commercially?
Also is it possibly the could be the way of Bury FC?
Click to expand...

The club and ground companies are both in administration - the closest US equivalent is Chapter 11 (though there are substantial differences). It's the same firm doing both. The aim of administration is to preserve the business as a going concern if at all possible. The administrators will undoubtedly try to sell the assets of both companies to the same buyer, as this gives the besr chance of the club surviving.
 
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