He hasn't been putting sufficient funds in to cover known commitments though has he? Hence the embargo. If he can do it 'no problem' then why did it get to this point? And he can only fund the club to an average loss of 13m a year, so if we're projected to lose that anyway he can't put in anymore without raising more revenue. Hence player sales. We've also lost one of last year's major principal sponsors.
Chelsea's academy is literally a money making factory, that's it. I mean there are some home grown players like Chalobah and Colwil in their first team, but the turnover in that academy is enormous. Burnley have spent a combined £60m on Armando Broja, Bashir Humphreys and Lesley Ugochukwu in this window, they had 38 PL appearances between them, Humphrey's never actually making one himself. Granted, Chelsea did pay something like £19m for Ugochukwu but it's insane how much Chelsea make. It's very rare (often in stark contrast to us) how often they manage to make a profit on every player they sell. That being said, if Tyrieq George is available on a free loan, we'd like him please .
Isn't that the point / problem?! Well, that plus him (or more likely someone under him) making school boy errors with the timing of repaying Villa or at least thinking their side agreement was fine? Unless of course you don't believe anything that's been said. p.s. not looking for arguments and insults. Hoping for adult discussion.
It wasn't just Barry, we were late on other payments too both before and after Barry. Coupled with a number of suppliers not being paid and late payment of wages. If it was just Barry then we'd have only been under one embargo. Also Acun himself has accepted culpability for delays in transferring funds from Acun Medya to the club to cover shortfalls. Then there's the fact we took a hit on the Philogene and Greaves fee to get the cash up front - with over 20m in outstanding fee commitments... It all adds up to a lot more than an admin error by a minion. There are folk within the club and within businesses waiting for payment sounding the alarm on this well before it hit the press. I heard rumblings before the last international break and others on here knew well before I did. You just chose and continue to choose not to believe it.
But yet we still choose to offer players with huge wages. Is it an error by Acun not having enough cash to pay the bills or simply he does t have enough cash to pay the bills.
They really aren't unconfirmed. Mike White broke the news on the 20m outstanding commitments and taking the upfront transfer cash at a cost. Several outlets have reported multiple late football related payments and non football suppliers not being paid, which was subsequently acknowledged by Acun in his statement. The late payment of player wages was acknowledged by the club and Acun has admitted delays in transferring funds from the parent company, as well as holding discussions with investors and turning down 2 bids. This is all in the public domain, and there has been no dispute between the club and established media organisations in relation to the reports. Neither is it in dispute that the club are having to work to an agreed business plan with the EFL, which is basically special measures and not imposed lightly.
As the wages weren't actually late just not on the usual date I don't think the EFL will care or be able to use that as a reason for sanctions
If Acun gave money to a director or friend and they paid it in, the EFL would be all over it and probably do him for trying to breach the regulations. Buying the ground would be one way to do it.
No you've said it now - that makes it true. Also its been repeated by someone else so it's now a FACT. Now everyone will be busy speculating about all the players they'd sign while complaining bitterly it's not been announced. 20 pages incoming.
They were 2 days late. Just because it wasn't late enough to be in breech of contract and the EFL to get involved at that time, they were still late due to funds not being available in time. As a one off it's not a huge concern. In the context of everything else it paints a picture of struggling financially
You’re right but why did it happen in the first place? If the club had decent liquidity, it would have funds available in the club’s UK-based account to pay the player salaries on the usual date. The official line by Acun and the club is that there was a delay in transferring money from an overseas account into the club’s account to pay players’ salaries. That explicitly means the club has poor liquidity and cannot cover short-term, monthly obligations without regular transfers from overseas accounts. All healthy businesses should have cash reserves as a contingency to cover shortfalls.
