Pigs Record Transfer Fee Received... | Vital Football

Pigs Record Transfer Fee Received...

Mansfield Blade said:
the funniest thing in their accounts is their ultimate owner is now Sheffield 2!
Click to expand...

Just had a quick look at their numbers. Oh Lordy, they are on a knife edge. Still paying 160% of revenue on wages alone, sold the ground to these mysterious Sheffield 2 and Sheffield 3 companies (reputed to be the asset stripping Italians who nearly killed Watford...), paying £200k a month rent for the next 30 years, actually insolvent on the balance sheet. If Tunaboys Visa gets declined, they're fecked, and they have the relegation to come. Only made profit by shuffling the ground sale, which they shuffled from 2019 into 2018, back into 2019 again. What a mess.
 
Last edited:
Grayblade said:
They made a £19m profit in tax year 2018-19 dontcha know
Click to expand...


Only by a bit of accounting gymnastics, but most of them don't get it. They think they can buy in a right bunch of top players and buy the ground back. These results are from two years ago, so dont show the effect of the Covid season either. I'm betting last years figures look worse than 18/19 and this years are worse than both.

Shit Creek...
 
FatherKnowsBest said:
Only by a bit of accounting gymnastics, but most of them don't get it. They think they can buy in a right bunch of top players and buy the ground back. These results are from two years ago, so dont show the effect of the Covid season either. I'm betting last years figures look worse than 18/19 and this years are worse than both.

Shit Creek...
Click to expand...
Can’t they just move the sale of the ground into the next yrs figures 🤷‍♂️
 
Bulmer1889 said:
Can’t they just move the sale of the ground into the next yrs figures 🤷‍♂️
Click to expand...


I think they'll have to. It seems to be fitted with wheels anyway. Question is, does moving it now trip over ffp for previous years again, and can anyone from the FA be bothered pursuing it. (I think we know the answer to that...).

These accounts were for 18/19. 19/20 are due as well.
 
Think I heard in the next couple of seasons the EFL will do a revaluation of the ground. Could go from £60 million to 2/3d.
 
I am not saying that they are money laundering, but if I started up a money laundering operation many of the things they are doing I would also do. Like having loads of dummy companies (D Taxi, Elev8 Clothing, Elev8 soft drinks, Sheffield 2,3,4,5 Chansiri ltd etc.) who don't seem to do anything except pass money around or making it hard to regulate. SWFC used to be owned by Chansiri, but now it is owned by SWFC Holdings, a company owned and regulated in Hong Kong, but in turn this company is owned by Sheffield 2 in the UK. The football ground is owned now by Sheffield 3 but Sheffield 3 was originally owned by Sheffield 4 but that went bust (how does a non trading company go bust?) and ownership passed to Sheffield 5. which is wholly owned by Chansiri.

The problem with this theory is that money is going into the club but it isn't coming out. You would expect them to be very active in the transfer market, selling players, except he seems quite happy to allow the contracts to run down and let them leave for free.
 
Bulmer1889 said:
Is that 2 shillings and thrupence if so I think it’s still too high
Click to expand...


Its last proper valuation was £22m replacement value. As its built on a flood plain, the land isn't that valuable if you knocked it down for housing. (Someone would still build on it, but you'd really need to culvert the river way back to their training ground, and thats not cheap. )
 
I read thast they put the sale to themselves of the grounf in the 2019 accounts but they did this much earlier. Who is checking the legality of this (not the sale but the correct transaction date)?
 
Chips1889 said:
I read thast they put the sale to themselves of the grounf in the 2019 accounts but they did this much earlier. Who is checking the legality of this (not the sale but the correct transaction date)?
Click to expand...


It appears to have been in two sets of accounts so far. One might imagine that the auditors might pose the question, but there we are.

Update: The explanation is that as the FA wouldn't let them have the sale in the 17/18 accounts, it was dragged into 18/19. 17/18, has now been updated to show a whacking loss, and not the profit that would have saved them the points deduction.
 
Last edited:
FatherKnowsBest said:
It appears to have been in two sets of accounts so far. One might imagine that the auditors might pose the question, but there we are.

Update: The explanation is that as the FA wouldn't let them have the sale in the 17/18 accounts, it was dragged into 18/19. 17/18, has now been updated to show a whacking loss, and not the profit that would have saved them the points deduction.
Click to expand...
That explains it, thanks. One rule for them and no body seems to care?
 
Chips1889 said:
I read thast they put the sale to themselves of the grounf in the 2019 accounts but they did this much earlier. Who is checking the legality of this (not the sale but the correct transaction date)?
Click to expand...
As long as the auditors are getting paid they'll not be too concerned about the odd date discrepancy:cool:
It's hard enough juggling soot without pertinent questions being asked.
 
Equates to 325,000 tins at Tesco prices. However, a little less if you buy a pack of 4. This brand is verboten in my household.
 
You must log in or register to reply here.