There may be a non takeover reason we got the embargo lifted

J

Jimmy Gordon

Vital Football Legend
I've been looking into transfer embargoes

The one we were in was not for breaking FFP it was for failing to demonstrate we were a going concern by filing accounts

Under an embargo for FFP you can still sell players as it helps you balance the books

Under an embargo for other financial concerns or irregularities it appears you can't sell players

I'm assuming this is to stop owners cashing in on assets at a time when the club may be in danger of not lasting a season

It keeps the assets in the club to be able to meet the clubs commitments

So this particular embargo being lifted is a potential cause for concern as much as a sign that the takeover is almost there

As it stood Fawaz would not have been able to sell players until he filed the accounts to show we were a going concern

I didn't pick up on this before as I was thinking we were in embargo for FFP

Just saying....

Coming out of this type of embargo backs up either a takeover OR Fawaz wanting the option to sell players before takeover

Hopefully it's the first reason
 
Of course you can sell players under any embargo.

That's ridiculous. Why wouldn't you be able to?

How could you possibly get out of any financial difficulty if you couldn't sell players?
 
It's difficult to see a scenario where selling all the best players gets him anywhere so i doubt that's on the agenda. Allowing Lansbury to go is in the clubs best interests though so maybe that's all it is. Feels like something is about to happen.
 
Pope When a club is potentially insolvent the owner could sell players and take the money out of the club and the people the club owe money to dont get to call on the player assets to get the the debts satisfied

I just read an article by Greg Clarke about it

He was talking in particular about clubs being prevented from selling players when they owe HMRC money to protect HMRC from owners asset stripping the club

The assumption being that the money from the sales doesn't get used to pay the debts but gets taken out of the club

I Guess?

 
Pope John XXIII - 13/1/2017 20:38

Of course you can sell players under any embargo.

That's ridiculous. Why wouldn't you be able to?

How could you possibly get out of any financial difficulty if you couldn't sell players?
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Our embargo wasn't for financial difficulty in this case

It was for not confirming we were a going concern

An exact reason they wouldn't want a club to asset strip

Now we have confirmed we are a going concern they won't mind us selling players

They protect the interests of third parties and other clubs that we owe money to by keeping assets in the club
 
Jimmy Gordon - 13/1/2017 20:44

Pope When a club is potentially insolvent the owner could sell players and take the money out of the club and the people the club owe money to dont get to call on the player assets to get the the debts satisfied

I just read an article by Greg Clarke about it

He was talking in particular about clubs being prevented from selling players when they owe HMRC money to protect HMRC from owners asset stripping the club

The assumption being that the money from the sales doesn't get used to pay the debts but gets taken out of the club

I Guess?
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That sounds like some kind of order or injunction though, on top of an embargo.

If non FFP embargoes stopped all transfers then clubs could easily go out of business in these circumstances.

What do we have to submit accounts for anyway? Isn't it because of FFP in the first place?
 
Pope John XXIII - 13/1/2017 20:48

Jimmy Gordon - 13/1/2017 20:44

Pope When a club is potentially insolvent the owner could sell players and take the money out of the club and the people the club owe money to dont get to call on the player assets to get the the debts satisfied

I just read an article by Greg Clarke about it

He was talking in particular about clubs being prevented from selling players when they owe HMRC money to protect HMRC from owners asset stripping the club

The assumption being that the money from the sales doesn't get used to pay the debts but gets taken out of the club

I Guess?
Click to expand...

That sounds like some kind of order or injunction though, on top of an embargo.

If non FFP embargoes stopped all transfers then clubs could easily go out of business in these circumstances.

What do we have to submit accounts for anyway? Isn't it because of FFP in the first place?
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Yes, that is what the report said at the time.

The FL said that under the terms of FFP audited accounts must be submitted by 31st December; they went on to state something like they had seen the accounts and everything looked in order.

If that was correct we went into embargo for breaching the FFP rules.
 
Sanchez flores - 13/1/2017 20:51

We were put under an embargo for ffp reasons. So we wouldn't be out unless our accounts had been The Football League has lifted the transfer embargo on Nottingham Forest, after the club submitted the required documentation relating to their accounts.

The Post understands the issue was related to guarantees of future finance, which have now been put in place.
It remains unclear whether those guarantees have been provided by the club's current owner Fawaz Al Hasawi or by the American consortium, led by John Jay Moores, that is looking to secure an 80 percent stake in Forest.

But it is clear the two parties have found a solution to the problem – which will allow the Reds to operate freely in the transfer market once more.

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Jimmy Gordon - 13/1/2017 20:51

We hadn't confirmed we were a going concern

It wasn't an FFP embargo
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It was!

The accounts cannot be audited until liabilities have been guaranteed; that has been the case throughout Fawaz's reign.

You are right about the club not being a going concern but that is the case with 90% of the clubs outside of the PL.

We breached FFP rules by not submitting the accounts on time.
 
Read Taylor's words on the embargo being lifted and why it was there

He also said this will now allow us to trade freely in the transfer market

There's clues in there this is about selling players

Im not sure it was even related to the year end accounts now

There is a separate thing you have to lodge about guaranteeing a commitment to the season

We've gone into embargo for not lodging that in the past as well

Nothing to do with FFP that embargo

FFP wasn't even around when that first happened under Fawaz
 
Jimmy Gordon - 13/1/2017 21:37

Read Taylor's words on the embargo being lifted and why it was there

He also said this will now allow us to trade freely in the transfer market

There's clues in there this is about selling players

Im not sure it was even related to the year end accounts now

There is a separate thing you have to lodge about guaranteeing a commitment to the season

We've gone into embargo for not lodging that in the past as well

Nothing to do with FFP that embargo

FFP wasn't even around when that first happened under Fawaz
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You were right Jimmy, fair play.

 
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