Sky saying

[Bladesthorpe]

That we're in big trouble with our new owners, only caught a bit of it but seems the Prince was threatening them with a winding up order for the 10 million they owed him.
I think it said they also owe 40 million payment for the club . I could have got the wrong end of the stick so don't take this as gospel.

 

[Silent Blade]

That we're in big trouble with our new owners, only caught a bit of it but seems the Prince was threatening them with a winding up order for the 10 million they owed him.
I think it said they also owe 40 million payment for the club . I could have got the wrong end of the stick so don't take this as gospel.

Already discussed in here for the past few hours.

COH, not SUFC, owe money to the Prince.

 

[Zero dark thirty]

Already discussed in here for the past few hours.

COH, not SUFC, owe money to the Prince.

Nice spin on that but COH own you...interesting times

 

[PrestwichBlade]

Nice spin on that but COH own you...interesting times

Pissed again?

 

[Zero dark thirty]

Pissed again?

No absolutely not..but don't coh own you

 

[FredZeppelin]

I've heard the Walton's are considering an imminent bid for us!

utb

 

[bladesmanluke]

Nice spin on that but COH own you...interesting times

You must be jealous then. Or is administration only a good thing when it's Wednesday?

 

[FredZeppelin]

Wow! Now it's all starting to make sense at last.

All the 80 super rich bidders abandoning their Wednesday bids because they're hearing that the Blades are coming up for sale!

We're rich!!!

utb

 

[nopigfansintown]

Nice spin on that but COH own you...interesting times

Facts aren't spin.

 

[Blade In Flame]

I've heard the Walton's are considering an imminent bid for us!

utb

I've not heard anything about that, so it must be true. NDA's and all that. Champions League in 3 years and a 60,000 ground to boot.

 

[Champagneblade]

So COH paid money that they owed?

 

[SwissBlade]

That we're in big trouble with our new owners, only caught a bit of it but seems the Prince was threatening them with a winding up order for the 10 million they owed him.
I think it said they also owe 40 million payment for the club . I could have got the wrong end of the stick so don't take this as gospel.

If this were the pigs they'd be spinning this as great news, saying that it shows what an amazing job Meester COH is doing. The next takeover will be a big one for us. Then we're back.

 

[SwissBlade]

So COH paid money that they owed?

Sounds like it, but its not a great look for them when they're paying late once the creditor has complained of not being paid.

 

[Edgar Allan Poo]

Read the thread title and thought it was a communication from the gods.

Pissed again?

We need to select a Trump style special envoy to go on Pork Talk or send in the S2 4SU marines for a special operation.

 

[Tezza1889]

Paying late is a culture thing for american bussinesses, I worked for them for years, still do..

Same story every month..

Nothing to see here...

 

[Tony Currie]

• Current Status: Sky understands that following the legal threat, the payment has now been made and the club is currently up to date with the previous owner.
• Future Concerns: The report highlights that almost half of the total takeover price is still yet to be paid in future installments. Prince Abdullah has reportedly raised concerns with the EFL about how the current owners will finance the club long-term.

 

[SwissBlade]

Paying late is a culture thing for american bussinesses, I worked for them for years, still do..

Same story every month..

Nothing to see here...

When they're doing business in England with English Football League rules and requirements it might raise some questions...

 

[Eddiecolquhounsleg]

So when Chansiri did not pay the players, the staff, HMRC, VAT etc, that was his fault entirely and neither Sheffield Wednesday nor the fans should be penalised for the misdemeanours of the owner and the EFL should help them in this dire situation.

When Sheffield United current owners fail to pay the previous owner this is the clubs fault and the EFL should throw the book at us..

Got it.

 

[brownblade]

Princey is trying to buy us back for a quid, in his latest game of Sheffield United Finance Fun©.

Loves some finance banter that lad.

 

[dexter101]

Paying late is a culture thing for american bussinesses, I worked for them for years, still do..

Same story every month..

Nothing to see here...

from experience, middle east businesses can also be hard to get money out of. they pay, just not always in line with when you are meant to have it.

couple more weeks interest on £10m is probably worth a grumpy email...

 

[jimmymuir]

The sooner these chancers sell up the better.

 

[brownblade]

The sooner these chancers sell up the better.

On the contrary. I'm rewatching Arrested Development (yet again, because it's brilliant) and Joe Russo is one of the first names on the screen. No higher praise.

 

[SwitchBLADE Smiles]

Princey is trying to buy us back for a quid, in his latest game of Sheffield United Finance Fun©.

Loves some finance banter that lad.

I know this was a very much tongue in cheek post, but honestly if this were to happen - I wouldn’t be upset. PA got lots of undue stick from some sections IMO.

 

[Guesty]

On the contrary. I'm rewatching Arrested Development (yet again, because it's brilliant) and Joe Russo is one of the first names on the screen. No higher praise.

Aye, the Russos cut their teeth on that and Community before jumping to Marvel.

 

[Champagneblade]

Sounds like it, but its not a great look for them when they're paying late once the creditor has complained of not being paid.

It’s headline grabbing but it’s not a story anymore.

It looks bad on them.

But owing monies and not paying vs owing monies and having paid are a very different tone.

 

[JohnDenver]

I thought PA talked about selling to the right people for the future of SUFC. And the Dozy sale falling through was proof of his care for the club.

Now he’s late getting his coin, it’s almost is if it was complete flannel all along…

 

[Nedski]

Paying late is a culture thing for american bussinesses, I worked for them for years, still do..

Same story every month..

Nothing to see here...

I had to initiate cancellation proceedings on a £100k insurance policy, and they finally paid on the day of cancellation. Their finance manager essentially said "why would we pay before we absolutely have to?"

 

[Bell4]

I had to initiate cancellation proceedings on a £100k insurance policy, and they finally paid on the day of cancellation. Their finance manager essentially said "why would we pay before we absolutely have to?"

I’m the same with the milk man

 

[blAdes96]

Sounds a bit of a non-story, monies outstanding paid by deadline to old owner. Almost like a let’s paint Blades out to be in a bad place like scummy neighbours…

 

[CPB]

I wonder if there's more to this than meets the eye.

And actually no I'm not referring to COH Sports in this instance. Well not entirely.
The actual news is that COH were late in paying Prince Abdullah but it is now settled. Which to be honest hardly seems that big of a deal. Doesn't sound like it was many months late.

There are more installments to come and Prince is "worried" about receiving those and the clubs financial future. Given the club spent a bit in the summer (Not altogether wisely). And have made some additions to the ground improvements in new screens, rail seating and a few other odd bits. This doesn't currently scream of an ownership who seem to have a cashflow problem. But then again they could just be really bad...

However the Prince quite fancied being a minority shareholder when the negotiations took place. COH sports did not want this at the time.
1 year on there could be a few scenarios at play here.

1. Prince just wants his money on time and so is publicly (speaking to the press) casting doubt on COH's financial ability to pay him and run the club. And so COH might think twice about paying late.
2. Prince is right to be worried about his money and the club. COH sports are not running us well.
3. There is a bit of a cashflow problem but maybe not quite so big as some think. And the Prince might be wanting to offer for them not to pay him the full amount back for a stake in the club again. He is sensing an opportunity.