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Post by rickyqpr on Apr 6, 2021 13:45:42 GMT
www.dailymail.co.uk/sport/football/article-9438517/Championship-facing-financial-armageddon-TEN-clubs-placed-transfer-embargo-month.htmlThis is potentially a huge story - or a storm in a tea cup. It raises several questions: Why was this not properly announced by the EFL? Did the EFL communicate that an extension was not allowable before hand to the clubs involved? What is the point of an embargo if you cannot sign players outside of the window anyway? What is the EFL proposing to do anyway about FFP and why not announce it now? How many of the ten clubs are in serious financial trouble? Is this another balls up by the EFL? The clubs in question were Birmingham City, Blackburn Rovers, Cardiff City, Coventry City, Derby County, Huddersfield Town, Luton Town, Reading, Sheffield Wednesday and Stoke City. However, Huddersfield have already had their embargo released having now filed financial accounts - so 9 now. Thankfully, it seems QPR have filed their accounts on time.
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Post by hitmanrangers on Apr 6, 2021 18:20:44 GMT
It’s all a load of rubbish and lazy journo! Government gave all companies including football clubs, more time to file accounts at Companies House due to COVID but seems EFL rules still insist on receiving them on time which for most clubs is by end of February. Technical embargo that gets removed when accounts are filed so as long as clubs do that before transfer window starts it’s non issue.
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Deleted
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Post by Deleted on Apr 7, 2021 6:38:54 GMT
While the headline says this was a transfer embargo, which is senseless in a non window period, the text says it was a registration embargo which could have an impact as it would stop clubs signing free agent players - of which there are many these days.
However this another example of how the EFL put their FFP rules above the law of the land. When it comes to measuring the old financial loss clause that we fell foul of. the EFL came up with their own definition of what could or could not be included in calculating the P/L which was different to company law and accountancy standards. Effectively meaning the clubs had two sets of financial statements - one for the Companies Act and one for EFL FFP.
In this case the government extended the deadline for filing of accounts but the EFL ignored that and stuck to their own deadline. Seems they want to kill the game completely - bunch of muppets to put it politely.
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