Transfer embago and almost going into administration?

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BigBed

BigBed

Aboard the sinking ship......
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Heard on radio, that last season we were under a transfer embago due to almost going into administration, only to be saved by the Prince finding some cash to put in, as McCabe wasn't going to put anymore in???

Ok, I've heard we were struggling a bit at one point, but did anyone know about the embago???
 

High Court Judgement (paragraph 76)

"with the result that no resolution was achieved in time to avoid a temporary embargo on the Club’s transfer activity. Had the issue not been resolved (as it later was, on 25 July 2017) it could have had a damaging impact on the Club’s ability to position itself for the new season in the Championship"

Edit to add, for balance, that this happened in 2016 (para 62)

"SUFC was in real danger of being unable to pay its employees’ wages on a monthly basis.Mr Bettis called for another £1m from each owner in November 2016 but SUL paid only £450,000 on 29 November, £50,000 on 1 December and a further £500,000 on 12 December. When Prince Abdullah was called upon to equalise contributions by paying £1m in January 2017 he did not do so, and SUL had to pay a further £600,000 urgently on 27 January 2017 in order to save SUFC from insolvency. "
 
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BigBed said:
Heard on radio, that last season we were under a transfer embago due to almost going into administration, only to be saved by the Prince finding some cash to put in, as McCabe wasn't going to put anymore in???

Ok, I've heard we were struggling a bit at one point, but did anyone know about the embago???
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WYHTP
 
I think woodys thunderbolt is nearer the mark, we weren't under an EFL embargo but may have tied purse strings, we've never had a winding up order or conned the Co-Op out of at least 20m
 
McCabe drove us a day away from insolvency. Some Blade.

Cheers Kev. Spiteful and self-centred.
 
I know the EFL let clubs get away with murder but signing 6 players whilst under a transfer embargo seems extremely lax even by their standards.

I know Wednesday fans are jumping on this but the fact we have signed players and paid transfer fees in every window should tell you something about this embargo and why it was never reported.
 
brownie said:
It was in the judges report that we was under a temporary transfer embargo in July 2017
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It was suggested that we were by, possibly Tutton. The Judge didn't state it other than referencing that it was said.
 

Who couldn't we pay that would have put us straight into administration? Never reported anyway. Just Court case he muck raking.
 
It seems that the vultures are gathering..... Nobody makes the money that KM has amassed without being savvy, and ruthless when it is required. Rather than jump on selective snippets from an acrimonious court case I’d rather remember that the man remained committed for a very long time, yes, I know he appointed Robson. Look where we are now - the league is littered with the corpses of clubs raped by unscrupulous owners but we are in the PL and, seemingly, in good order.
So please, focus on the positive, we climbed to where we are under his ownership - be careful what you wish for.
 
Sean Thornton said:
If only it was true eh?
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SUL had to input 600k to stop the club reaching insolvency. A club of our size that close to insolvency? Having read it back, it was the Prince who didn't front the money meaning McCabe had to put in that 600k. A club of our size being that close to insolvency is pathetic. And yes, I am speaking Layman's and don't need a lecture on accounting. But again, McCabe brought in the Prince.
 
Roygbiv said:
I know the EFL let clubs get away with murder but signing 6 players whilst under a transfer embargo seems extremely lax even by their standards.

I know Wednesday fans are jumping on this but the fact we have signed players and paid transfer fees in every window should tell you something about this embargo and why it was never reported.
Click to expand...
Just the football league favouring United over every other club like they always do 😂😂
 

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