Yet another winding up order against Forest

They will be playing in blue next...

 

Fortunately ours was unreadable.

 

Are there any oil rich gulf states which don't yet own a football club, who we could persuade to take us over? Do the Saudis have a club yet?

 

They are currently dreaming in "la la land" following a media report that this sponsorship deal with be worth £500m over 10 years.

http://www.forest.vitalfootball.co.uk/forum/forums/thread-view.asp?tid=28527&start=201

In other news, their Winding Up Order submitted by the HMRC has been adjourned until Thursday.

 

500 million?

Surely there is no way that would get past FFP... isn't there some "market rate" clause for sponsorship deals?

 

I don't read The Sun. Let me know what it says.

 

I think that would only be an issue if there was some sort of association link between the club and the Kuwaiti sponsors.

 

I'm guessing there won't be officially and that there's no way of checking.

 

I see Chris Burke has been brainwashed already by saying it was a no-brainer to join because Forest are "clearly a Premier League club playing in the Championship". Just like Wolves. And Leeds. And Derby.

 

Did he say they were 'going places'? Or are they already there?

 

They've sold Jacob Lascelles and Kevin Darlow to Newcastle today but loaned them both back for the coming season. Pearce has publicly confirmed he thinks it was a bad deal for Forest and he told the owner as much. Fans on their forum going mad about it - particularly when they're pointing out how other divisional rivals are able to rebuff bids for their best players :]]

 

Golden.

 

Hilarious.

 

I thought their owner was loaded and backed by a bunch of loaded arabs from loadanarnia? Got cash flow problems?

 

But they got the players back so they'll have them for their promotion push and they go up the fans won't care as they'll have cash to find replacements

 

Guess the stadium naming deal wasn't as big as 500m after all :]]

From their forum "When Pearce said he was looking at loaning some youngsters from the Premier League, this isn't what I thought he meant!"

Classic.

 

I suspect it's all to do with FFP and keeping the wages off Forests books. Anyway Pearson will be gone before they do so why all the fuss?

 

Nearly a £23m loss in 13/14, up £6m from previous season. The owner promises to keep funding the loss for another year. Then what?

http://www.nottinghampost.com/Notti...22-9m-latest/story-26125123-detail/story.html

 

Just mind blowing stupidity.

 

Don't worry, they'll probably buy a player for £10m in the Summer.

 

I might be wrong but isn't that just an accountancy thing? ie the numbers look dire and would not normally be signed off by the auditor as a going concern for the next year. Chairman confirms he'll keep funding, and not call in his loans, and bingo they're solvent.

 

Yes, I was chatting to a guy who works for Hacker Young which dealt with Portsmouth FC. You are exactly right, it isn't any sort of deadline like I thought it might be.

 

Exactly. The reason it says he will support the company's finances for the next 12 months is that all companies need to show they can continue to trade for another full year to be counted as a going concern. Otherwise the accounts have to be prepared on a 'break-up basis' (the accounts would look worse if they did this).

He's essentially said 'I will keep them trading for the next 12 months at a minimum' rather than 'I'm only prepared to keep them funded for 12 months'.

 

What happens about their transfer embargo and FFP

 

I think the embargo continues indefinitely until the club demonstrates that they are back within the limits or demonstrably heading that way. This season will see the FPP limited loss, reduce further down from £8m to £5m (I think, from memory, it may be £3m).

Whatever, they need promotion desperately!

 

Are there fines as well although this would seem pointless if you are trying to get clubs to reduce their debt! I can't see them going up soon, if I'm honest I think the other way might be more likely over the coming years.

 

I don't think there are fines unless a club is promoted whilst over the FPP limits, like QPR were last season. I think they are fighting a legal battle against the fine, which was something like £20m I think.

But I agree. Them spending £5m on Britt when they knew they were already well over the FPP limits was just a direct snub to the regs, and I things had turned out a little different it could have got them promotion.

 

Its changing and the ability to make larger losses makes you wonder if anything will actually happen as long as the club can demonstrate they are heading in the right direction-or fudge as its commonly known


http://www.bbc.co.uk/sport/0/football/29940463