Knighton Matt Posted 21 August 2006 Posted 21 August 2006 Ermmm, is that not a bit late now? I thought there were financial penalties for such delays. I think the financial y/e is March or June. Either way you have something like 10 months after the y/e to submit the accounts to Companies House so September would be well within the threshold. Out of interest does the Trust know why PricewaterhouseCoopers are our auditors? They are notoriously expensive surely we could get a cheaper deal and save the club some pennies with no loss of service? Or is it one of those chummy relationships between the current board and the partners at PWC?
BartonFox Posted 21 August 2006 Posted 21 August 2006 I think the financial y/e is March or June. Either way you have something like 10 months after the y/e to submit the accounts to Companies House so September would be well within the threshold. Fair enough, I knew there was some leeway but wasn't sure of the time. That said FT stated they were due last September, so unless I am missing something they are nearly a year late Out of interest does the Trust know why PricewaterhouseCoopers are our auditors? They are notoriously expensive surely we could get a cheaper deal and save the club some pennies with no loss of service? Or is it one of those chummy relationships between the current board and the partners at PWC? Kudos
Knighton Matt Posted 21 August 2006 Posted 21 August 2006 Fair enough, I knew there was some leeway but wasn't sure of the time. That said FT stated they were due last September, so unless I am missing something they are nearly a year late I think they were making the point that last year's were released at the end of September '05 so we should expect the end of September '06 for this year's unless there is a delay in signing the accounts off for whatever reason. Kudos
Knighton Matt Posted 22 August 2006 Posted 22 August 2006 There's been some pure comedy in this thread but I think BF's use of the word f**kwittery was massively overlooked :laugh:
Chrysalis Posted 22 August 2006 Posted 22 August 2006 I think he would run a mile when he saw the weight of the stadium debt hanging around our neck!!!! Has he learnt not to tinker with things when they are going well? What he did at Portsmouth by upsetting Harry and bringing in foreign directors of football was unforgivable. Also... how much of their success was down to him and how much down to Redknapp? He gave him a few quid to spend, but as we know well enough money doesn't guarantee anything. Portsmouth success was 90% redknapp and 10% Mandaric IMO. Who employed redknapp originally in their promotion campaign? Who funded the players redknapp originally brought in the promotion campaign? Would rednapp have joined pompy if he had no cash to spend? I would rethink how much he has done for portsmouth, before he came they were relegation fodder in the championship.
Chrysalis Posted 22 August 2006 Posted 22 August 2006 Wake up and smell the coffee! This man has NO affinity with us or our club. If this story has even a grain of truth in it (and given its origin I don't believe it for a second) than we have to ask ourselves what he has to gain from investing in our club. We are not a basket case like Portsmouth, who languished in obscurity for decades (and will do so again in due course) before Mandaric came on the scene. The ownership rules are there for a reason - to prevent us from falling prey to spivs, sharks and asset-strippers. Unless and until Mandaric can convince us he does not belong in any of these categories, we should not touch him with a bargepole! His record proves it I would have thought, or did he asset stripped pompy?
Chrysalis Posted 22 August 2006 Posted 22 August 2006 That's a fair enough comment. In all fairness, though, the trouble started when Redknapp left. Perrin was inept - money or no money. I reckon if Redknapp didn't walk, Pompey would have been fine all along (unfortunately). If I am not mistaked it was manderic who attracted Gaydamak, what have our current board done to get investment? How many people realise how bad the situation is currently? The current board have failed to (a) attract outside investment (b) have a stupid rule blocking large investment from one person. © have no ambition and are running the club as a business happily paying themselves to profit from their own investment, (d) are happy with avoiding relegation thats their target. (e) would like to share the ground with tigers.
Chrysalis Posted 22 August 2006 Posted 22 August 2006 Developing our own players and selling some always makes sense to me. And in our present situation why should we not rely on that way forward: Current young saleable assets: Stearman, Kisnorbo, McCarthy, Fryatt. Future young saleable assets: Logan, Dodds, Porter, O'Grady, Gradel, Chambers, Sheehan Beyond that: Tejan-Sie Odihiambo King, Magunda etc etc. to be honest we would still be in a mess, your idea would probably allow us to keep struggling just to pay off the interest (you realise we not paying of the debt just interest payments) and reduce attendances further since we selling our best players and probably be in another relegation dogfight.
Chrysalis Posted 22 August 2006 Posted 22 August 2006 Well considering the success of portsmouth was naf all to do with him, and mostly to do with harry then i think that this guy will make naf all difference. Doubt he wil put much money into the club hense why he wants to go to a club that is already equipt to go up. sounds like a waste of time to me, and an overestimated deal. (if its true) as we found out when we couldnt attract newell, that the success was to do with manderic, it works from the top, manderic attracted redknapp.
Chrysalis Posted 22 August 2006 Posted 22 August 2006 If we went into admin again we'd be finished. The league would see to that. But some posters are so blinkered they'd rather see that happen than have our current owners stay in control... with out current owners we heading for another admin, thjey are struggling just to pay off interest and we would be finished with another relegation. why arent the current owners investing more from personal wealth?
Chrysalis Posted 22 August 2006 Posted 22 August 2006 "The shower that run the club" are at least City fans. They have put money into the club. Unlike Mandaric, who would be looking for the money he could take out. Haven't you learned from the days we were a plc, when we were bled dry by a bunch of parasites? We won't allow those days to EVER return. We been bled dry now, tim davies put in tiny sum and already has it back via salary and took a large bonues in our premiership season. The new chairman put in 250k and will get that back over 2 years from his salary and be in profit after that.
Chrysalis Posted 22 August 2006 Posted 22 August 2006 The Tigers groundshare would be a more steady source of income for us, and it'd benefit us more in the long run than having somebody like Mandaric coming in for a couple of seasons then leaving us I suppose no it wouldnt thats a short term boost with little long term benefits. It would anger a lot more fans then manderic coming in. manderic may well leave us after 2-3 years but if we in the premiership which is better? in premiership with 20mill debts. in championship with 30 mill debts?
hairy Posted 22 August 2006 Posted 22 August 2006 Never seen him at a game, got the impression he was persuaded to put some money, where as others were far more avid fans who out in what they could afford How very observant of you not to have seen his box all these years. Its the one with a picture of a dog with a slipper in its mouth and the name 'Wilson' next to it.
Babylon Posted 22 August 2006 Posted 22 August 2006 Who employed redknapp originally in their promotion campaign? Who funded the players redknapp originally brought in the promotion campaign? Would rednapp have joined pompy if he had no cash to spend? I would rethink how much he has done for portsmouth, before he came they were relegation fodder in the championship. Who annoyed redknapp? Who brought in Perrin? Who has brought in several foreign directors of football? My point is, yes he gave them money!!! BUT in the wrong hands (peter taylor plus many at other clubs) money can mean trouble!! What's to say we wouldn't get a Perrin put in place here? I can see the pros and cons for him coming... which is why until the facts (if any) come out I will reserve judgement.
Fez of Mahrez Posted 22 August 2006 Posted 22 August 2006 Who annoyed redknapp? Who brought in Perrin? Who has brought in several foreign directors of football? My point is, yes he gave them money!!! BUT in the wrong hands (peter taylor plus many at other clubs) money can mean trouble!! What's to say we wouldn't get a Perrin put in place here? I can see the pros and cons for him coming... which is why until the facts (if any) come out I will reserve judgement. To be fair to him he didn't persist with Perrin too long and is big enough to admit the error he made. No-one is perfect. At the time, our fans were extremely happy with Peter Taylor and Craig Levein coming in.
Jon the Hat Posted 22 August 2006 Posted 22 August 2006 We been bled dry now, tim davies put in tiny sum and already has it back via salary and took a large bonues in our premiership season. The new chairman put in 250k and will get that back over 2 years from his salary and be in profit after that. My god some people have absolutley no concept of investment and return. Please explain to me how putting in £250k and getting paid £100k per year puts you in "profit" after 2 years? Lets look at the alternative... Put £250k in stable investment at 6% per annum, earns about £30k, so you have £280k. Get a job elsewhere, at the same salary (not that hard with his experience) and you have earned £200k. So now you have £480k! Brilliant. In comparison to putting £250k into city not getting it back and earning £200k. So, you might say he's actually £280k worse off after 2 years!
shen Posted 22 August 2006 Posted 22 August 2006 Who annoyed redknapp? Who brought in Perrin? Who has brought in several foreign directors of football? My point is, yes he gave them money!!! BUT in the wrong hands (peter taylor plus many at other clubs) money can mean trouble!! What's to say we wouldn't get a Perrin put in place here? I can see the pros and cons for him coming... which is why until the facts (if any) come out I will reserve judgement. Bottom line is, where were they when he took over and where are they now, despite all the controversial happenings? How is their financial state now compared to just before he came? Personally I want us to succeed without a sugardaddy, but we need the money, so I'll welcome him with open arms if he comes!
Janx Posted 22 August 2006 Posted 22 August 2006 There is a reason this thread is 21 pages long..so far... SECRETLY WE ALL WANT IT TO HAPPEN, RISKS OR NO RISKS....
Surreal Madrid Posted 22 August 2006 Posted 22 August 2006 Fair enough, I knew there was some leeway but wasn't sure of the time. That said FT stated they were due last September, so unless I am missing something they are nearly a year late Kudos The accounts to 31st May 2005 were signed off on 3rd August 2005, which is pretty quick for a non-quoted PLC. Septemberish 2006 for the May 2006 accounts seems a pretty normal timeframe. As a PLC, the accounts have to be filed at Companies House within nine months of the year end, which in our case is February 2007. With regard to the auditors, I would guess this is a condition imposed by the Teachers' Pension Fund when they agreed to the rescheduling of the loan on the stadium when we came out of administration. As Americans, they would have heard of PWC, but not some smaller mid-tier firm.
Sods Posted 22 August 2006 Posted 22 August 2006 There is a reason this thread is 21 pages long..so far... SECRETLY WE ALL WANT IT TO HAPPEN, RISKS OR NO RISKS.... I agree but why is every one certain Milan Mandaric is looking at Leicester. He is looking at a club in the championship who is ready for the premiership, i agree everything is ready but what about other teams,
Stevosevic Posted 22 August 2006 Posted 22 August 2006 Sorry if it has already posted, but i checked the last 4 pages and i am pretty sure it hasnt. Did anyone hear the interview with Mandaric on radio Leicester this morning?
Manwell Pablo Posted 22 August 2006 Posted 22 August 2006 No, what was said? I think that is what he was asking.
Fox 4 Life Posted 22 August 2006 Posted 22 August 2006 Former Portsmouth owner Milan Mandaric has revealed he is ready to invest in another English club after selling his shares in the Fratton Park club - with Wednesday one of the club's linked with the Serbian. Mandaric sold his shares in Pompey to Alexandre Gaydamak last week for £17 million but insisted it won't be his final job in English football - with reports pointing towards the possible takeover of Wednesday. Wolves, Coventry, and Leicester City were also mentioned. Mandaric told the Daily Mirror: 'I love football and I would be a liar if I said Portsmouth would be my last club.' It's been a hectic weekend in the Owls camp as far as takeover bids are concerned, with Wednesday fan and boxing promoter Dennis Hobson leading a consortium to discuss a possible investment in the club with current Owls chairman Dave Allen. Mandaric is a Serbian business tycoon who has owned a string of successful businesses and football clubs, including Belgian club Standard Liege and French club OGC Nice. He took the reins at Portsmouth in 1998 and his investment helped guide Pompey to the Premiership. He transformed the club's fortunes off the pitch while agreeing a deal for the construction of a brand new stadium. Current Wednesday Chairman Dave Allen has come under some strong criticism from Wednesday fans in the local press and media ever since his appointment. But the Sheffield businessman has come under fire recently for refusing to give successful boss Paul Sturrock a new contract until Christmas - a move that was criticised by Sturrock himself live on radio. Mandaric is said to be interested in investing in clubs that already have the structure to move forward into the Premiership - and with the history, stadium and fanbase already in place at S6, there's no reason why the Owls faithful wouldn't want you Mr Mandaric! http://www.sheffwed.vitalfootball.co.uk/article.asp?a=27935
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