Just had this on my computer

http://www.swfc.co.uk/page/News/0,,10304~2147579,00.html

were all Wednesday arnt we

UTO

FTB

Just had this on my computer

http://www.swfc.co.uk/page/News/0,,10304~2147579,00.html

Can you imagine what LS would have said? Good work Howard and Nick, keep it up. :thumbsup:

Well done Howard Wilkinson, all wednesday arnt we !!!

but what about greasy bob...where is he......and who is this secret investment group...surely not mates of greasy bob and his gang....get ready for saturday....bring your tin helmets...

but what about greasy bob...where is he......and who is this secret investment group...surely not mates of greasy bob and his gang....get ready for saturday....bring your tin helmets...


I am guessing that the "..Nick and I found out who our friends were in the last few days.." statement is aimed at the other board members.

Well done Howard,we're all behind you

I am guessing that the "..Nick and I found out who our friends were in the last few days.." statement is aimed at the other board members.

Which brings me to the following conclusion. The 'Charterhouse' shareholders need to be bought out, if the bank wasn't a mutual I wager that they would have bought them out just to get them out of the way. The club is not going to attract any interest with these muppets ruling the roost.

As Howard has now spoken out, and is still the none equity chairman, I have high hopes that he and Nick know something that we don't.

Top man, We're All Wednesday Aren't We

I am guessing that the "..Nick and I found out who our friends were in the last few days.." statement is aimed at the other board members.

Like Bob Grierson - Finance Director - who went on holiday at the begining of the week.....

It doesn't really explain a lot, does it? I think it's great that he has come out and spoken to your fans, but I'd be asking where all the money is going! How can you sell your best player a couple of months ago and then need another £1m bailout from the bank? Didn't the bank also give £3m in the summer? It seems like the debt is getting out of control again after a few years of stability.

Unlike most Blades, I really do wish both clubs success (of course, always with United doing slightly better!) but I do think that the best way for Wednesday to get back on their feet is Admin. It seems like an awful lot is being banked on promotion this season, but it's a struggle to last the season financially to get there. I think the onfield side has been excellent, but the debt needs sorting once and for all. Lots of clubs have gone into admin and come out stronger on the other side.

were all Wednesday arnt we

UTO

FTB

Here we go again :shakes:

It doesn't really explain a lot, does it? I think it's great that he has come out and spoken to your fans, but I'd be asking where all the money is going! How can you sell your best player a couple of months ago and then need another £1m bailout from the bank? Didn't the bank also give £3m in the summer? It seems like the debt is getting out of control again after a few years of stability.

Unlike most Blades, I really do wish both clubs success (of course, always with United doing slightly better!) but I do think that the best way for Wednesday to get back on their feet is Admin. It seems like an awful lot is being banked on promotion this season, but it's a struggle to last the season financially to get there. I think the onfield side has been excellent, but the debt needs sorting once and for all. Lots of clubs have gone into admin and come out stronger on the other side.

I don't see that happening Snook really, do you? I don't believe that Howard Wilkinson is that callous as to go to the bank, cap in hand (and it does sound like it was only him and Nick Parker doing this, while others did nothing) to get the money to keep the club from Administration, only to go into Administration afterwards.

Yes, I agree with you that something is very wrong when Lee Grant was sold to settle a tax bill, only for another tax bill to come in so soon after and cause a crisis. The bank must have done serious due diligence prior to loaning more, at least you would hope so (or quickly withdraw your savings from the Co-Op bank if not!)

Which brings me to the following conclusion. The 'Charterhouse' shareholders need to be bought out, if the bank wasn't a mutual I wager that they would have bought them out just to get them out of the way. The club is not going to attract any interest with these muppets ruling the roost.

As Howard has now spoken out, and is still the none equity chairman, I have high hopes that he and Nick know something that we don't.

I did say this on another thread, when Spencer Fearn and co said they wanted to make sure Wednesdayite had a seat on the board, because they are fans. That's like Abbeydale Brewary offering me a seat on the board because I love drinking their real ale.

It doesn't really explain a lot, does it? I think it's great that he has come out and spoken to your fans, but I'd be asking where all the money is going! How can you sell your best player a couple of months ago and then need another £1m bailout from the bank? Didn't the bank also give £3m in the summer? It seems like the debt is getting out of control again after a few years of stability.

Unlike most Blades, I really do wish both clubs success (of course, always with United doing slightly better!) but I do think that the best way for Wednesday to get back on their feet is Admin. It seems like an awful lot is being banked on promotion this season, but it's a struggle to last the season financially to get there. I think the onfield side has been excellent, but the debt needs sorting once and for all. Lots of clubs have gone into admin and come out stronger on the other side.

I'm with you on your first point, Snook, while disagreeing with you on your second one.

We owed the tax people half a million a month or so ago. We sold one of our best players for an undisclosed fee, but estimates are between 750K and 1m. That should have put us all square with the tax man with money to spare. So why now do we owe 1.5m? We must be bleeding money right, left and centre. The club has some explaining to do.

But, I can't agree that administration is the answer. After putting together a decent side that has an excellent chance of promotion, the fans deserve better than a 10 point deduction and a sell off of assets by an administrator. What's needed now is a total review of the books by an independent auditing firm with a mandate to design a good fiscal management plan. Plus, someone, and I'm not sure who, should take a serious look at why takeover plans are not bearing fruit and what can be done to move forward there. Joe Ashton has some thoughts on this in today's Star, though like yourself, he thinks admin is the way to go.

It doesn't really explain a lot, does it? I think it's great that he has come out and spoken to your fans, but I'd be asking where all the money is going! How can you sell your best player a couple of months ago and then need another £1m bailout from the bank? Didn't the bank also give £3m in the summer? It seems like the debt is getting out of control again after a few years of stability.
Unlike most Blades, I really do wish both clubs success (of course, always with United doing slightly better!) but I do think that the best way for Wednesday to get back on their feet is Admin. It seems like an awful lot is being banked on promotion this season, but it's a struggle to last the season financially to get there. I think the onfield side has been excellent, but the debt needs sorting once and for all. Lots of clubs have gone into admin and come out stronger on the other side.

i agree with the bold. i wish we could get a clear picture from someone at the club how bad the finances are and why the grant money didn't clear the tax bill after we were told it would. at least we have kept out of admin, i don't think that would be the best option after building a decent team up

Our beloved club has been blighted by politics for years but with Howard Wilkinson i honestly believe we have a good chance of dragging ourselves out of the mire.

...........more pressing matters this Saturday and if we can bounce back with a win or get sucked into that old 'Wednesday losing mindset'.

I'll be there.

Love Wednesday hate united!!

is that better malky boy??

I don't see that happening Snook really, do you? I don't believe that Howard Wilkinson is that callous as to go to the bank, cap in hand (and it does sound like it was only him and Nick Parker doing this, while others did nothing) to get the money to keep the club from Administration, only to go into Administration afterwards.

Yes, I agree with you that something is very wrong when Lee Grant was sold to settle a tax bill, only for another tax bill to come in so soon after and cause a crisis. The bank must have done serious due diligence prior to loaning more, at least you would hope so (or quickly withdraw your savings from the Co-Op bank if not!)

But to get the tax bill we must have made the money in the first place, so my issue is where has it gone?

But to get the tax bill we must have made the money in the first place, so my issue is where has it gone?

Good point, and also of course, it means that the apart from spending the profits (or whatever has been done with them) the tax portion of it is spent or missing, rather than being put to one side to pay the taxman?

Wow! encouraging news coming out of Hillsborough..

Well Done Howard Wilkinson, TOP MAN!

UTO! WTID!

Good point, and also of course, it means that the apart from spending the profits (or whatever has been done with them) the tax portion of it is spent or missing, rather than being put to one side to pay the taxman?

Doesn't everybody do this ??

Wednesdayite: Any members on this forum??????????

He used his nectar card points to co op i heard.

<REMOVED>

<REMOVED>

But to get the tax bill we must have made the money in the first place, so my issue is where has it gone?

The tax bill isn't due to profits made - it's due to the deductions made from players' salaries for tax and national insurance contributions

I have no idea how much the monthly wages bill is, but the tax liability on wages is roughly about 30-40% - so if they pay wages of £300,000 a month, the tax due on that is about £110,000.

They will also have a massive VAT bill to pay each quarter - for each £100 they receive in ticket sales, programmes, beer & pies etc they will have to pay about £15 in VAT (although there are deductions they can make against this it won't amount to much)

So it doesn't take long at that level for a large tax debt to build up

They obviously have to pay the wages irrespective of how much income they get, so they have a large tax bill each month even if they make a loss