Embargo...again | Page 2 | Vital Football

Embargo...again

On twitter at 17.54pm by bbc nottingham sport.
a statement by nffc that they cannot submit paperwork until new ownership has gone through.
Hoping to submit it in within a few days.
Looks like new owners will be in place in next few days.
 
Southern red - 31/12/2016 17:49

Maybe I'm being thick but isn't it easy to send a copy of our accounts?

Or is it massively complicated?
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that depends whether those accounts have actually been done man :(

its been logical all along that the deal would be first week o jan,,, if this news is true i think we will be screwed on both sides of the coin.. it isnt confirmed tho, so lets hope is is yet another account of tardiness and ineptitude rather than negligence. it has to be this first week. nothing else makes sense.. im actually delaying an order here myself to a new distributor cos i want it on 2017 books not 2016 despite the order going in a day or two ago... might well be similar situation here
 
Fawaz will be thinking it's somebody else's problem

Only thing bothering him right now is maximising any income he can get

I hope new owners screw him down on the deal as the scale of his incompetence and total disregard for anything other than the short term means he deserves to get next to nothing for the shambolic state he will be passing the club over in

This could be a big hindrance to new owners though who have enough on their hands already to deal with

Even though I've been assured Fawaz has a good heart I hope once we get new owners we never see him again

He's been an embarrassment from start to finish
 
I did tell you all years ago Fawaz was a shit owner but it was obviously far more practical to accuse me of not being a fan or attacking me for a job I did years ago rather than coming to your senses & realising I was right.
 
Been offline for a little while, so is this takeover happening or not? I kind of half believed that this kind of amateurish shit was all behind us now. Surely a new owner wouldn't be party to this kind of shit?

Shit, that's what this is, shit. How many much more of Fawaz's fooking shit does our club have to be subjected to?
 
"The club can confirm there has been a delay in submitting the 2015-16 audited accounts to the English Football League.

"Until the potential investment resulting in a change of ownership is completed, Nottingham Forest are unable to provide all the information necessary to perform the audit.

"The club expects to submit the outstanding information within a matter of days and will update supporters when it can."

 
München - 31/12/2016 23:35


"The club can confirm there has been a delay in submitting the 2015-16 audited accounts to the English Football League.

"Until the potential investment resulting in a change of ownership is completed, Nottingham Forest are unable to provide all the information necessary to perform the audit.

"The club expects to submit the outstanding information within a matter of days and will update supporters when it can."
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I don't understand what potential investment in a change of ownership has to do with the 2015/16 accounts, which I believe to be the accounts in question.

This smacks of a limp excuse.
 
They shouldn't be linked in any way, although as a poster has said it may be the going concern and ongoing support statement...or it could be that Fawaz can't fund it until we get the sale proceeds for Britt in January....
 
It also shows there is no Plan B

It's shit or bust - takeover or things get even worse

We all knew that though by now

Wonder if the new owners knew they would be facing an embargo they had to fix as soon as they took over


 
München - 31/12/2016 23:35


"The club can confirm there has been a delay in submitting the 2015-16 audited accounts to the English Football League.

"Until the potential investment resulting in a change of ownership is completed, Nottingham Forest are unable to provide all the information necessary to perform the audit.

"The club expects to submit the outstanding information within a matter of days and will update supporters when it can."
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That quote is basically saying it's going to be upto new owners to submit accounts for a period they weren't even at the club to report on

And to make matters worse our auditors resigned two weeks ago - its on companies house filing

So there will need to be new auditors involved in sorting this problem

I'm sure filing of last year's accounts is existing owner's responsibility

Another typical Fawaz official statement that causes more confusion and tries to deflect blame

 
Every time Fawaz tweets it sounds less and less like a done deal

@FAWAZ_ALHASAWI
@fawaz_alhasawi1

"Despite a slight delay due to the festive period, progress is being made and I hope to give you more news next week #NFFC"

The news we want to hear next week should be an announcement direct from new owners not another BS update from him

Thought deal was done before Xmas and new owners just wanted to wait a few days to announce?

 
@FAWAZ_ALHASAWI
@fawaz_alhasawi1
10h

@KRichmond2 13 million 13 million 13 million Do you know how much money ?? I invest in nffc
 
Jimmy Gordon - 1/1/2017 04:19

München - 31/12/2016 23:35


"The club can confirm there has been a delay in submitting the 2015-16 audited accounts to the English Football League.

"Until the potential investment resulting in a change of ownership is completed, Nottingham Forest are unable to provide all the information necessary to perform the audit.

"The club expects to submit the outstanding information within a matter of days and will update supporters when it can."
Click to expand...

That quote is basically saying it's going to be upto new owners to submit accounts for a period they weren't even at the club to report on

And to make matters worse our auditors resigned two weeks ago - its on companies house filing

So there will need to be new auditors involved in sorting this problem

I'm sure filing of last year's accounts is existing owner's responsibility

Another typical Fawaz official statement that causes more confusion and tries to deflect blame
Click to expand...

One of the basic principles of accountancy is the "Going concern" concept - ie the company proving it can carry on trading. As two people have already said this probably means a guarantee from our new owners, therefore the accounts can't be filed until after the new owners take over. Also auditors "resigning" is just standard procedure when new owners want to use different auditors. Doesn't make a very exciting story, but I don't see we have anything to worry about unless this hasn't happened in a couple of weeks, when of course we risk missing the transfer window,
 
So Fawaz not able/prepared to state we can operate as a going concern in order to submit accounts

Like I said there is no Plan B here
 
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