Sports Shield - New Owners (Probably)

[BWFC_Insane]

Not struggle to prove they have funds necessarily but require them to modify their forecasts and business plans.
.

They have to prove it. They have to submit a forecast till the end of next season. And the league can ask new owners to prove that 'external funding' within the forecast is actually there.

^ one says one thing, the other says another, from the same person.

I say: Submitting a forecast is one thing, proving you have funds to till the end of next season is another. One has a lesser burden of PROOF. God this is hard work...

The End.

What they have to do and what changing the deal at the last minute causes them to struggle to do aren't the same thing.

The context of my response to Bish was entirely different. There isn't any need to look at anything other than the regulation that states the league can ask for proof of funds.

[Lost Leopard Spot]

Not struggle to prove they have funds necessarily but require them to modify their forecasts and business plans.
.

They have to prove it. They have to submit a forecast till the end of next season. And the league can ask new owners to prove that 'external funding' within the forecast is actually there.

^ one says one thing, the other says another, from the same person.

I say: Submitting a forecast is one thing, proving you have funds to till the end of next season is another. One has a lesser burden of PROOF. God this is hard work...

The End.

What they have to do and what changing the deal at the last minute causes them to struggle to do aren't the same thing.

The context of my response to Bish was entirely different. There isn't any need to look at anything other than the regulation that states the league can ask for proof of funds.

(‘Future Financial Information’) comprising projected profit and loss accounts, cash flow, balance sheets and relevant explanatory notes commencing from its accounting reference date... The projected profit and loss accounts, cash flow and balance sheets shall be prepared at a maximum of six-monthly intervals.
The Future Financial Information shall be prepared in accordance with the accounting principles adopted in the preparation of the Championship Club’s annual accounts.

^ It is a projected fxcking forecast. There is no BURDEN OF PROOF THAT THERE ARE FUNDS TO HAND TO RUN THE CLUB NEXT YEAR. It's like on Dragon's Den when the dragons say what's your projections for year one and year two. Its stuff people make up. They don't say "oh yeah, I'm struggling to tell you that, I don't actually have any money in the bank, therefore my projected income won't actually happen, I reckon we'll go bust by year 2"

[BWFC_Insane]

(‘Future Financial Information’) comprising projected profit and loss accounts, cash flow, balance sheets and relevant explanatory notes commencing from its accounting reference date... The projected profit and loss accounts, cash flow and balance sheets shall be prepared at a maximum of six-monthly intervals.
The Future Financial Information shall be prepared in accordance with the accounting principles adopted in the preparation of the Championship Club’s annual accounts.

^ It is a projected fxcking forecast. There is no BURDEN OF PROOF THAT THERE ARE FUNDS TO HAND TO RUN THE CLUB NEXT YEAR. It's like on Dragon's Den when the dragons say what's your projections for year one and year two. Its stuff people make up. They don't say "oh yeah, I'm struggling to tell you that, I don't actually have any money in the bank, therefore my projected income won't actually happen, I reckon we'll go bust by year 2"

Yes it is a projection. However you keep ignoring...

16.21.2 The League shall have the power to require the Person who proposes to acquire or has acquired Control to appear before it and to provide evidence of the source and sufficiency of any funds which that Person proposes to invest in or otherwise make available to the Club.

You need to make a projection till the end of next season. And then you can as a new owner be asked to provide evidence of the source and sufficiency of any funds that you propose to invest....

In other words if your plan is to keep the club going by sticking in money the league can ask you to prove that. In this case that IS what they have done. Not really sure how what has actually happened can be a debate. Especially as the requirements are very clearly in the league rules.

[thebish]

you COULD conclude that the fact it is taking time for the FL to be satisfied suggests that ED was right to take his time weighing up the situation and not rush into it 2 months ago...

or - you could just physically assault ED in the street next time you see him...

(other options are available, the value of your opinion may go up or down as further breaking news emerges, thebish is regulated by a much higher power, please drink responsibly.)

[BWFC_Insane]

you COULD conclude that the fact it is taking time for the FL to be satisfied suggests that ED was right to take his time weighing up the situation and not rush into it 2 months ago...

or - you could just physically assault ED in the street next time you see him...

(other options are available, the value of your opinion may go up or down as further breaking news emerges, thebish is regulated by a much higher power, please drink responsibly.)

I think you could only conclude that really if he'd sold to someone else other than the party he could have sold to months back.

Anyhow, hoping SS get clearance next day or two and we can move on. New dawn and all...

[thebish]

you COULD conclude that the fact it is taking time for the FL to be satisfied suggests that ED was right to take his time weighing up the situation and not rush into it 2 months ago...

or - you could just physically assault ED in the street next time you see him...

(other options are available, the value of your opinion may go up or down as further breaking news emerges, thebish is regulated by a much higher power, please drink responsibly.)

I think you could only conclude that really if he'd sold to someone else other than the party he could have sold to months back.

Anyhow, hoping SS get clearance next day or two and we can move on. New dawn and all...

nope - I am perfectly capable of concluding that as it is. It took a long time for them to convince ED of their bona-fide and for him to understand their strategy/backing - similarly it's taking the FL a while.

or - summat else might be going on.

(I won't be physically assaulting ED next time I see him, though, regardless...)

[Lost Leopard Spot]

(‘Future Financial Information’) comprising projected profit and loss accounts, cash flow, balance sheets and relevant explanatory notes commencing from its accounting reference date... The projected profit and loss accounts, cash flow and balance sheets shall be prepared at a maximum of six-monthly intervals.
The Future Financial Information shall be prepared in accordance with the accounting principles adopted in the preparation of the Championship Club’s annual accounts.

^ It is a projected fxcking forecast. There is no BURDEN OF PROOF THAT THERE ARE FUNDS TO HAND TO RUN THE CLUB NEXT YEAR. It's like on Dragon's Den when the dragons say what's your projections for year one and year two. Its stuff people make up. They don't say "oh yeah, I'm struggling to tell you that, I don't actually have any money in the bank, therefore my projected income won't actually happen, I reckon we'll go bust by year 2"

Yes it is a projection. However you keep ignoring...

16.21.2 The League shall have the power to require the Person who proposes to acquire or has acquired Control to appear before it and to provide evidence of the source and sufficiency of any funds which that Person proposes to invest in or otherwise make available to the Club.

You need to make a projection till the end of next season. And then you can as a new owner be asked to provide evidence of the source and sufficiency of any funds that you propose to invest....

In other words if your plan is to keep the club going by sticking in money the league can ask you to prove that. In this case that IS what they have done. Not really sure how what has actually happened can be a debate. Especially as the requirements are very clearly in the league rules.

And you keep on mixing up present funding arrangements and future financial information.
16.21.2 is about now and proving to the FL that SS are capable of running the club. Which any new owner has to do, as the heading quite claerly states: If Any Person Propose to Acquire Control of a Club.
16.16-18 is the part about Future Financial Information, and nowhere within that section are any requirements for proof of funding into the future.
- So I'm not ignoring it (16.21.2), it is irrelevant to your stated view that they were struggling to prove future funding - THEY DON'T HAVE TO!!!!!!!!!

[BWFC_Insane]

(‘Future Financial Information’) comprising projected profit and loss accounts, cash flow, balance sheets and relevant explanatory notes commencing from its accounting reference date... The projected profit and loss accounts, cash flow and balance sheets shall be prepared at a maximum of six-monthly intervals.
The Future Financial Information shall be prepared in accordance with the accounting principles adopted in the preparation of the Championship Club’s annual accounts.

^ It is a projected fxcking forecast. There is no BURDEN OF PROOF THAT THERE ARE FUNDS TO HAND TO RUN THE CLUB NEXT YEAR. It's like on Dragon's Den when the dragons say what's your projections for year one and year two. Its stuff people make up. They don't say "oh yeah, I'm struggling to tell you that, I don't actually have any money in the bank, therefore my projected income won't actually happen, I reckon we'll go bust by year 2"

Yes it is a projection. However you keep ignoring...

16.21.2 The League shall have the power to require the Person who proposes to acquire or has acquired Control to appear before it and to provide evidence of the source and sufficiency of any funds which that Person proposes to invest in or otherwise make available to the Club.

You need to make a projection till the end of next season. And then you can as a new owner be asked to provide evidence of the source and sufficiency of any funds that you propose to invest....

In other words if your plan is to keep the club going by sticking in money the league can ask you to prove that. In this case that IS what they have done. Not really sure how what has actually happened can be a debate. Especially as the requirements are very clearly in the league rules.

And you keep on mixing up present funding arrangements and future financial information.
16.21.2 is about now and proving to the FL that SS are capable of running the club. Which any new owner has to do, as the heading quite claerly states: If Any Person Propose to Acquire Control of a Club.
16.16-18 is the part about Future Financial Information, and nowhere within that section are any requirements for proof of funding into the future.
- So I'm not ignoring it (16.21.2), it is irrelevant to your stated view that they were struggling to prove future funding - THEY DON'T HAVE TO!!!!!!!!!

Section 16.21 in its entirety covers what happens under new ownership. You have to provide future financial information and can be asked to provide proof.

16.21.1 is the requirement for the future financial information

16.21.2 is the right for the league to ask for proof.

[Lost Leopard Spot]

16.21.1 is the requirement for the future financial information

16.21.2 is the right for the league to ask for proof.

I know. How hard is this.
16.21.2 is the right to for the FL to ask for proof of funds to run the club when a new owner takes over.
16.21.2 is NOT the right for the FL to ask for proof of future funds to run the club next year.

[Lost Leopard Spot]

thebish is regulated by a much higher power, please drink responsibly.

Subliminal advertising. What next!?

[BWFC_Insane]

16.21.1 is the requirement for the future financial information

16.21.2 is the right for the league to ask for proof.

I know. How hard is this.
16.21.2 is the right to for the FL to ask for proof of funds to run the club when a new owner takes over.
16.21.2 is NOT the right for the FL to ask for proof of future funds to run the club next year.

16.22 If The League determines, in its reasonable opinion, and having considered any information provided to it pursuant to Regulation 16.21, that the Club will not be able to fulfil its obligations as set out in Regulations 16.19.8(a) to 16.19.8(c), then The League shall have the powers set out in Regulation 16.20.

16.19.8 as a result of its review of all the documents and information submitted by the Championship Club pursuant to Regulations 16.2 to 16.18, and having taken into account any failure of the Championship Club to supply any such documents or information, in its reasonable opinion it determines that the Championship Club will not over the course of the following Season be able to:

(a) pay its liabilities to the creditors listed in Article 80.1 of the League’s articles of association and to any foreign Transferor Club (in so far as they are or will become creditors of the Championship Club) and to its employees as they fall due; or

(b) fulfil its obligations to play fixtures under the jurisdiction of the League; or

(c) be able to provide such rights, facilities and services as are required to enable the League to fulfil its commercial and broadcasting contracts.

[Lost Leopard Spot]

You can quote as many rules as you want. That lot ^ there don't say what you said either...

[BWFC_Insane]

You can quote as many rules as you want. That lot ^ there don't say what you said either...

It defines the period that the information request under 16.21 is measured by. So yes it does.

But anyway, it is what sports shield have been asked to do. They've even shared Iles story stating so, via their Twitter.

[thebish]

[Lost Leopard Spot]

You can quote as many rules as you want. That lot ^ there don't say what you said either...

It defines the period that the information request under 16.21 is measured by. So yes it does.

It does no such thing... you are deranged.

[Worthy4England]

Does anyone happen to know if SS need to prove to the FL that have funds in place?

[Lost Leopard Spot]

[Lost Leopard Spot]

Does anyone happen to know if SS need to prove to the FL that have funds in place?

Yes. They have to do that.
No they don't have to fxcking prove they've got funds for 20fxcking17 too. They just need to make some projections - like, guesswork sorta thing...

[Enoch]

It does no such thing... you are deranged.

BWFC_Deranged

[BWFC_Insane]

It does no such thing... you are deranged.

BWFC_Deranged

I like that!