Sheffield Wednesday on the brink

Gutted :( It is such a shame to see this. In the glory days of Waddle, Sheridan and Walker I'd have never seen this coming
 
Football clubs need to stop using money owed to the tax man for short term cash flow. Far too many clubs use HMRC like a charge card.

If you take £100k in gate receipts, you need to put money aside for your VAT bill.

If you're paying salaries, you need to put money aside for PAYE and Employer's NI.

Simple business sense, but clubs do it because they know that HMRC isn't a preferred creditor and as such have no interest in sending a club out of business because then they definitely wouldn't get the money. With all other businesses in other industries, HMRC will take you to the cleaners if you continue to pay late or not pay at all.
 
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Shame realy, wednesday get decent crowds, not like they overspend on players and wages.

Guess whats gone on behind the scenes over the last few years has done them no good.

While not knowing much about it, lots of reports over the last few years over ownership, investment.. non of it ever happening due to internal conflict.

Used to enjoy my trips to shefield, decent side in the 90's... one of my favourite away days ever when we won 7-1 up there. Hope something works out.
 
According to friends that know people.

Wednesday are a lot deeper in the mire then we were all lead to believe.

Hmm, over the past few years we've been promised investment / take overs and told at every opportunity that were on a sound footing in regards to the clubs finance.

Came as quite a shock last night / this morning when I was told.

Just feel a bit "meh" and down about it all.

Roll on Saturday when I get to go see us play.
 
I reckon Wednesday will still be amongst the promotion places even if they had 10 points deducted. I'm no expert on League 1 football but they've had a decent start thus far, it would be a shame to see them drop down to mid table League 1 obscurity but I think they can bounce back to the Championship, Npower league or whatever ridiculous name it's going as these days.
 
It's annoying Coca Cola got the 'old' Division 1 renamed to the Championship. I still when hearing 'League 2' have to "translate" it to 'Division 3'.
 
Something fishy here. The sale of Grant was supposed to have paid the bills for now. We've just turned down bids for Tudgay. I'm hoping it's just cash flow issues but it smells of mismanagement or worse.
 
My season ticket was expensive :(

If your ever down to a game drop me a trust and I'll buy you a pint :)
 
My dad bought his ST before the price rise, and also before they got relegated, I laughed at him since half of the people he went with waited and didn't renew after relegation (plastics!!).
 
More rubbish from HMRC. The club's ability to pay the £1.1m will not improve when it goes into administration, and as a non-football creditor, they don't rank anywhere for payment in any event.
 
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