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another in a long line of dodgy shirt sponsors


lobster

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Our new  shirt sponsor Wandisco seems to be in deep doggy doo . Currently under investigation by the US Regulators  for massively overstating revenues , CEO Dave Richards has resigned ( for the record he is no relation to Sir Dave Richards the serial failure) and are now looking at staff cuts of about one third . They were our shirt sponsor in 2013 and our former CEO Nick Parker worked for them after leaving Wednesday . He jumped ship as soon as they were floated ,I hope we were paid in advance

We seem to have a history of dodgy shirt sponsors , Remember the MHS Group whose founder Malcolm H Stockdale wanted to buy Wednesday before going bust , then there  was Milan's mate from Azerbaijan

 

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Let's hope this is separately survivable for our distinctive sponsor and their logo.  It'd be just typical if we lost them at this stage of the relationship.   Especially as my personal musical genius thought of an alleged song for us & the flat cap at York.   😉

(Nicking Portsmouth chant.)      🎵  'Ayup Wednesday, Wednesday ayup!'  🎶

Aithenkyew.   🤪

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2 minutes ago, Andyben said:

Unless he's bankrupted, barred as a director or imprisoned I suppose 

The 3 companies he's been registered as a director within the last fortnight won't be happy, particularly the 2 formed in the last 5 days.

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12 hours ago, Ozzie said:

Be more than 3 isn't it?

Crosby Kitchens, Finlux, Sanderson, VT Plastics, Elev8...

Company's fold all the time without being dodgy.

I accept Land of Fire was a bit nutty, but even then I think MM and even Mamadov were under the impression it was happening until it wasn't. Bigger clubs than us were reeled in by that one.

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  • 2 weeks later...
On 12/07/2023 at 10:19, Otto_Man said:

Company's fold all the time without being dodgy.

I accept Land of Fire was a bit nutty, but even then I think MM and even Mamadov were under the impression it was happening until it wasn't. Bigger clubs than us were reeled in by that one.

Never said they were dodgy

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The Stalk financial experts are on the case I see.

To cut out the crap, basically Wandisco - the group funded / agreed to pay the sponsorship deal of $362k that Eyup have with SWFC for this upcoming 2023/24 season.

Whether the contract says this is paid up front in full or not - no one other than the parties will know.

The financial sleuths commenting that Eyup latest accounts show not a lot, its a fucking start up - what do they expect.

There is the potential for upto an additional $362k based on how the 2023/24 season goes. So my astute financial analysis suggests that cannot be determined until May 2024. 

I would envisage if we are mid table that will entitle us to 0% of 362k in any event.

If this deal was agreed in 2022, then the accounting issues of Wandisco Group only really came to light in March this year. Following the practices of Autonomy the old Spurs sponsor that was acquired by Hewlett Packard now subject to legal proceedings.

It smacks of Dave Richards forward planning 

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6 hours ago, Neville Facking Bartos said:

Yes

including a $362,691 payment to Sheffield Wednesday.

Only concern for me is we’ve already spent that money in the same way we’ll borrow money against future seasons income from multi year tickets 

The payment in 2022 

 

 

I hate to break it to you, but I suspect all the season ticket monies for 2023/24 season are long spent as well.

 

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12 minutes ago, Neville Facking Bartos said:

We don't know what it is contingent on. Considering it was a deal done when we were a League 1 club it could be due if we're a championship club at the end of this season

Yes could be the case, I have no idea as had none of the experts on Stalk 

But they were busy shooting down the deal anyway to query the business logic of DC - when most of them wouldn't be able to run a business as a Deliveroo driver 

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