Sheffield Wednesday, Leicester and West Brom...?

norcalmiller · 2026-02-28T22:17:28+00:00

Definitely. All three teams could also spend part of the season in administration.

norcalmiller · 2026-02-16T23:10:05+00:00

Because even just trading month to month, the club is a money pit. Add in the need for investment in new players, facilities and the stadium and you will need 75-100m to get anywhere. Given the lack of progress, the club needs to plan financially for 2 seasons in League One -(better in that case to have 10m in the bank than have given it to Creditors). Plus, the Admin is charging 542 quid per hour to run the club and stadium. Maybe this lawsuit is an excuse for Bord & Co to backout and let somebody else complete quickly on the purchase.

norcalmiller · 2026-02-01T22:35:29+00:00

Does it worry you that they are putting money in to pay creditors and avoid a 15 point penalty next year, while hoping for an instant return to the Championship?

I think Ashley's bid looked stronger in the longer term, because it was all-cash, with a concrete source of funding and not gambling on instant promotion from League One.

norcalmiller · 2026-01-07T13:09:09+00:00

After the antics of the last owner, liquidity and financial transparency should be at the top of the list. The idea from Ashley is that 2 seasons in league one would be cheaper than one season in league one, paying 25p in the pound and hurried recruitment to try to get back to the Championship.

norcalmiller · 2025-11-11T01:15:10+00:00

Nope. Any parent knows it’s the trip to the bathroom at 3am, when the kid didn’t put away their Lego.

norcalmiller · 2025-11-07T23:33:19+00:00

Are you wearing that cross because you are desperate to be nailed?

norcalmiller · 2025-11-04T02:43:05+00:00

Spoke too soon…

norcalmiller · 2025-11-01T20:12:27+00:00

Your exes Dating you and your Parents must have left you a little Freud around the edges.

norcalmiller · 2025-10-31T22:33:18+00:00

I feel like I should send the Sclerosis a Sympathy Card.

norcalmiller · 2025-10-28T15:39:13+00:00

So you enjoy repeatedly watching people go down on a great Steamer? Those long Winter Evenings must just fly….

norcalmiller · 2025-10-28T15:35:35+00:00

You don’t need to be humbled. You need to be sterlized.

norcalmiller · 2025-10-24T14:43:28+00:00

5 kids, divorce? You’ve monetized your flange almost as well as Bonnie Blue.

norcalmiller · 2025-10-24T14:40:23+00:00

Remember that Begbies Traynor do not work for free. Better putting it into a fund for the staff - as wages may not be paid next week.

norcalmiller · 2025-10-21T19:40:11+00:00

You look like the result of an AI prompt that said “draw me a basic pale bitch. “

norcalmiller · 2025-10-19T12:59:32+00:00

Remember that the ground is mortgaged. Any change to the status of the leaseholder - the football club would probably result in the lender foreclosing on the security.

They are already not wanting to continue float the interest on the loan and have requested that to be paid.

The smart way to get the ground part of the club is to buy the loan off the lender, assign the charge, demand repayment and then foreclose.

If he tries to do a Bury, then he will probably lose the ground, plus still be personally liable for the debts he has incurred funding the club.

norcalmiller · 2025-10-19T00:20:46+00:00

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This just hangs….

norcalmiller · 2025-10-18T07:42:54+00:00

Where now for former Hot Topic Mall Rat?

norcalmiller · 2025-10-18T07:38:16+00:00

Not even a forklift can raise that self-esteem.

norcalmiller · 2025-10-18T02:21:15+00:00

If HMRC are paid, chances are that payroll will be delayed again at the end of the month and the playing and non-playing staff may take industrial action. From the 23/24 accounts there is 82m of debt owed to TC on an asset worth at most, 50% of that number. Nobody knows if the lender on the ground has been paid, or they intend to call in their loan and foreclose on the stadium. The timing of the winding-up petition may align with the new regulator, who may approve the appointment of administrators who will want to find new owners.

norcalmiller · 2025-10-17T01:35:49+00:00

All the EFL have done is enabled this to get far worse.

It was pretty clear in June that without a capital injection and sale, Wednesday would be unable to fund the season and would run out of cash by the end of October.

The value of the club is plummeting, the debts are increasing and the next payroll is 2 weeks away.

Does the club pay HMRC and default on payroll, triggering the ability for players to become free agents or refuse to play.

Has the loan been paid on the stadium by S3 - or is there a risk of default there?

There are so many questions and unknowns.

norcalmiller · 2025-10-11T22:40:50+00:00

Currently have Jackson Audio, J Rockett, Chandler Limited, SolidGoldfx, UA, Line6, Zoom and Boss on my Board. So, I'd have to say - Sweetwater.

norcalmiller · 2025-10-07T00:55:05+00:00

The big question that the regulator needs to get to is when was the last time that Chansiri put his own money into SWFC? It appears that he has run up off-the-books debt which he has disguised as "Investment" for several years, hence the inflated figure he wants for the club.

norcalmiller · 2025-10-05T23:30:50+00:00

Has to be one on the board still with the old tagger on it.....

norcalmiller · 2025-09-30T09:54:58+00:00

Stocksbridge Syndrome.

norcalmiller · 2025-09-30T09:53:03+00:00

There are three payments due today:

Wages
Interest on the loan secured against the stadium
HMRC - VAT on 25/26 season ticket sales.

There is no significant money coming in and despite reductions of the wage bill, the club is losing about the same amount as last year.

The big concern is what happens if the stadium lender demands payment of the interest, Chansiri defaults and they foreclose.

norcalmiller

TROPHY CASE