Embargo

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11-05-21, 07:43
EastbourneBlue

Embargo

The club said the accounts would be submitted to the EFL before the end of April, at which point the transfer embargo would be lifted.

Any indication this has happened? Have I missed it?
11-05-21, 07:48
BLUETIT

Re: Embargo

I thought this was a new Spanish signing :hehe:
11-05-21, 07:55
MacAdder

Re: Embargo

Quote:

Originally Posted by BLUETIT

I thought this was a new Spanish signing :hehe:

Nah, he's Brazilian :hehe:

Havent heard anything but not sure it will make much difference to us anyway.
Hope I'm wrong.
11-05-21, 08:12
EastbourneBlue

Re: Embargo

I have a sneaking suspicion that us and the other 9 Championship clubs will remain under embargo.

Can’t see what will have changed between when we were meant to file the accounts and the end of April. Not as though there’s been money coming in.
11-05-21, 09:52
Mario Miethig

Re: Embargo

I think HMRC extended the deadline to put the accounts in due to Covid. Not sure when that date is though? The EFL didn’t extend their deadline though, hence the embargo.
11-05-21, 10:04
The Hooded Claw

Re: Embargo

I’ve just checked Companies Houe and the accounts for Cardiff City Football Club Limited are due by 31st May, but a Confirmation Statement (a document to confirm the company’s details on shareholder information etc) is due on 12th May.
11-05-21, 10:46
dml1954

Re: Embargo

Quote:

Originally Posted by EastbourneBlue

I have a sneaking suspicion that us and the other 9 Championship clubs will remain under embargo.

Can’t see what will have changed between when we were meant to file the accounts and the end of April. Not as though there’s been money coming in.

The delay in filing was nothing to do with financial problems or irregular accounting practices, it was agreed with HMRC to give businesses more time due to Covid. Typical EFL, showing no flexibility by not amending their own deadlines to match. They are happy to let teams like Derby get away with financial irregularities but stick to the rules religiously when clubs need genuine assistance.
11-05-21, 11:44
The Bloop

Re: Embargo

The accounts haven't been submitted to Companies House yet (they are due by the end of May)
11-05-21, 13:34
EastbourneBlue

Re: Embargo

Quote:

Originally Posted by dml1954

The delay in filing was nothing to do with financial problems or irregular accounting practices, it was agreed with HMRC to give businesses more time due to Covid. Typical EFL, showing no flexibility by not amending their own deadlines to match. They are happy to let teams like Derby get away with financial irregularities but stick to the rules religiously when clubs need genuine assistance.

The club said it would submit its accounts to the EFL before the end of April and the embargo would then be lifted. Could’ve happened, but equally might not have.

I know businesses have been given extra time due to rona, but I can’t see how we are not going to be falling foul of FFP given there has been little income.